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' => '1819',
			'article_category_id' => '146',
			'title' => 'Visual Edit Vol 3 Issue 31',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Visual Edit',
			'sortorder' => '1680',
			'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' => '1818',
			'article_category_id' => '147',
			'title' => 'Nepal Leadership Summit 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepal Leadership Summit (Roadmap of Economic Revolution: Vision 2080 BS) is an appreciable step taken. It is indeed good initiation that politicians signed a 12-point declaration. But this only is not enough. Politicians should stick to their commitment and the agreement should be turned into action. I would like to congratulate and thank Birgunj Chamber of Commerce and Industries (BiCCI) and New Business Age Group for the historical endeavour. Country now has to head towards economic revolution leaving political confrontations aside. Hope the event will have a positive impact on country&rsquo;s economy. And hope it will help in the discourse of making Birgunj a major industrial hub of the country.</div>
<div>
	<strong>- Sharmila Dulal</strong></div>
<div>
	<em>Madan Bhandari Memorial College</em></div>',
			'published' => true,
			'created' => '2013-09-16',
			'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 Leadership Summit (Roadmap of Economic Revolution: Vision 2080 BS) is an appreciable step taken.',
			'sortorder' => '1679',
			'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' => '1817',
			'article_category_id' => '105',
			'title' => 'Cancel The Order',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	A restaurant from Thamel sent an order to a distributor of liquor for a large amount of goods totaling a great deal of money.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The distributor noticed that the previous bill hadn&rsquo;t been paid. The collections manager sent an email saying, &ldquo;We can&rsquo;t deliver your new order until you pay for the last one.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The next day the collections manager received a reply, &ldquo;Please cancel the order. We can&rsquo;t wait that long. &rdquo; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>-ML</strong></div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'A restaurant from Thamel sent an order to a distributor of liquor for a large amount of goods totaling a great deal of money.',
			'sortorder' => '1678',
			'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' => '1816',
			'article_category_id' => '144',
			'title' => 'End Strike To Stimulate Economy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	No-brainer that the Nepali industries, and the entire economy, bear a daily monetary loss in billions due to bandh. Nepal&rsquo;s economy, which has been suffering due to lack of security, higher interest rates, and irregular power supply and liquidity crunch, will ultimately collapse if such general strikes are frequent.</div>
<div>
	&nbsp;</div>
<div>
	The general public and the entrepreneurs feel disappointed over the major political parties who have failed to resolve the conflict through mutual talks. Unfortunately, there is no respite at sight. With the approaching Constituent Assembly election in Nepal, it is for sure that disgruntled parties will call frequent strikes to exert pressure on the government to fulfill their demands.</div>
<div>
	&nbsp;</div>
<div>
	For instance, the country witnessed two general strikes last week clearly hinting that the business fraternity will suffer more if there is not political consensus against bandh. Though there are laws that empower the local authorities to punish those who go for organised bandhs, the authorities concerned are not invoking these laws, as most of the bandhs are called for political reasons.</div>
<div>
	&nbsp;</div>
<div>
	Almost all walks of life are victimized by general strikes. Besides, business community, the daily wage earners and small scale entrepreneurs are the major victims of such strikes. The market witnesses price hike to more than triple due to short supply of vegetables, and food grains.</div>
<div>
	&nbsp;</div>
<div>
	It undermines confidence in the country&rsquo;s economy, and if we undermine confidence, we are destabilising investment. It is hitting our economy and yet this has not deterred the organizations or groups of people seeking &lsquo;justice&rsquo; from going ahead with bandh or blockade.</div>
<div>
	&nbsp;</div>
<div>
	In a democratic country, every citizen may have the rights to protest against injustices meted out to them. But at the same time it should be recognized that &lsquo;forced bandh&rsquo; violates human rights as well.</div>
<div>
	&nbsp;</div>
<div>
	In the economic realm, no more incitement to violence should be tolerated if we want prosperity in the country. The entrepreneurs have long been appealing the political parties to resolve the issue through dialogue as soon as possible. Nepal should be a bandh free zone, if we want double digit growth. Investors will shy away if there is frequent bandh in the country. There is an urgency to rethink the existing culture of bandh by the political parties.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'No-brainer that the Nepali industries, and the entire economy, bear a daily monetary loss in billions due to bandh. Nepal’s economy, which has been suffering due to lack of security, higher interest rates, and irregular power supply and liquidity crunch, will ultimately collapse if such general strikes are frequent.',
			'sortorder' => '1677',
			'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' => '1815',
			'article_category_id' => '145',
			'title' => 'Problems In Mutual Funds',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;">The third edition of Money Expo for the year 2013 will take place in the Capital from October 31 to November 2. Being the largest finance and investment show in Nepal, the expo will focus on the promotion of investment opportunities and wealth protection strategies. In the expo, a separate interaction entitled &lsquo;Mutual Fund: Another Attraction of Investment&rsquo; will be organized. New Business Age recently conducted a discussion on the same issue and experts presented their opinions.<strong> Excerpts:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Niraj Giri Spokesperson, Sebon" src="/userfiles/images/ng.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 187px;" />Niraj Giri </strong></span></div>
<div>
	<span style="font-size:14px;">Spokesperson, Sebon</span></div>
<div>
	&bull;Financial literacy is crucial for the expansion of mutual funds. Literacy is necessary for policy makers as well as investors.&nbsp;</div>
<div>
	&bull;The Mutual Funds have been established to develop and expand share markets in the country. The fund is aimed at reducing the problem of institutional investment in the share market. This may also help expand the stock market.</div>
<div>
	&bull;Even investors should put forth their initiatives for financial literacy. In &nbsp;developed countries, investors are more proactive than the regulator in initiating financial literacy programmes.&nbsp;</div>
<div>
	&bull;Our market is completely focused in Kathmandu which is another stumbling block for mutual funds.</div>
<div>
	&bull;Absence of an independent mechanism to fix the price of securities is another problem.</div>
<div>
	&bull;Citizen Investment Trust (CIT) has been failing to work in line with its objective. We have to develop it as a market maker.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Pravin Raman Parajuli  CEO, Nabil Investment Banking Ltd " src="/userfiles/images/prp.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 187px;" />Pravin Raman Parajuli </strong></span></div>
<div>
	<span style="font-size:14px;">CEO, Nabil Investment Banking Ltd&nbsp;</span></div>
<div>
	&bull;We have equal opportunities in mutual funds. However, managing the fund is indeed a challenging job.&nbsp;</div>
<div>
	&bull;A mutual fund plays a key role in providing security to its unit holders. That is why it should not be restricted to buy and sell shares.</div>
<div>
	&bull;We have 21,000 investors associated with our group. Most of them are grass root investors. We have also found that some of them are investing assuming mutual funds as IPOs.</div>
<div>
	&bull;Worldwide practice in mutual funds involves professional investment management and risk diversification. But the big question now is: have we been able to diversify risks? There have been some problems due to market limitations. Our market is full of banks and financial sectors. If we have to diversify our investment in the future, there seems to be no place for it.</div>
<div>
	&bull;Investors should also think about where they should invest next and what would be its risks and consequences.</div>
<div>
	&bull;We have to think about long term consequences rather than temporary ones.</div>
<div>
	&bull;We have to think about bringing real sector companies into the public for market diversification.</div>
<div>
	&bull;The nation should also take steps on awareness on mutual funds.</div>
<div>
	&bull;Stock availability is another problem. Out of total listed shares, only 8-10 per cent are available for trade.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Narayan Prasad Ghimire Chief, Share Division, Citizen Investment Trust " src="/userfiles/images/npg.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 188px;" />Narayan Prasad Ghimire</span></strong></div>
<div>
	<span style="font-size:14px;">Chief, Share Division, Citizen Investment Trust&nbsp;</span></div>
<div>
	&bull;The Mutual Fund is a good option from a profit-making perspective because it has fewer risks.</div>
<div>
	&bull;Interest on mutual funds is declining because of the government&rsquo;s policies regarding mutual funds. We had requested the government for exemption of income tax on at least Rs 50,000 of the total income of investors. But that could not be addressed in the budget, which has discouraged investors.</div>
<div>
	&bull;Because of less profit on mutual funds, people prefer direct personal investments instead.</div>
<div>
	&bull;The main problem of mutual fund is that most people lack knowledge about it. People who are aware are not interested in investing. That is why, despite the ability to invest, participation has not increased.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Shreejesh Ghimire CEO, NMB Capital" src="/userfiles/images/sg(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 188px;" />Shreejesh Ghimire</span></strong></div>
<div>
	<span style="font-size:14px;">CEO, NMB Capital&nbsp;</span></div>
<div>
	&bull;The demand of the mutual fund is very high in other countries but in the context of Nepal, demand is declining in spite of the progress the fund has made. This is the result of lack of awareness. The government made the policy but did not help further. The regulatory body SEBON, too, did not address the problem in time.</div>
<div>
	&bull;People are not aware of the benefits of investing on mutual funds. The main problem is market awareness which is very low. All stakeholders should work on raising awareness among people.</div>
<div>
	&bull;Lack of far sightedness in investors is another problem. Investors expect to double their amount invested in IPO. And if the company does not give result in four months, they believe it to be a bad company. As mutual funds&rsquo; plan is of five years, at least a year should be given before making any comments.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Dhruba Timalsina CEO, Siddhartha Mutual Fund" src="/userfiles/images/dt.jpg" style="
float: left; margin: 0px 10px 0px 0px;height: 186px; width: 150px;" />Dhruba Timalsina</span></strong></div>
<div>
	<span style="font-size:14px;">CEO, Siddhartha Mutual Fund</span></div>
<div>
	Rumours often create problems for mutual funds. &nbsp;For example, some vested interest people sometimes try to reduce share price of a certain company by creating a rumour.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The mutual fund is given priority while issuing new shares. The general public thinks that the fund manager will get undue profit from such arrangement. It is a big misconception. The profit and advantage of the fund is not for the fund manager but for investors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I have seen financial illiteracy among investors as another big problem. They look forward to share prices rather than the overall returns.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Central Depository System (CDS) has not been working fully. Tasks have not been performed yet in shares dematerialisation. &nbsp;Given that investors outside the valley do not have access to opportunities, it is necessary to make CDS work fully.</div>
<div>
	&nbsp;</div>
<div>
	It is also necessary to make it clear that mutual funds are different from market makers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Uddhab Shivakoti Share Investor" src="/userfiles/images/us.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 190px;" />Uddhab Shivakoti</span></strong></div>
<div>
	<span style="font-size:14px;">Share Investor</span></div>
<div>
	Mutual funds have failed to work as market makers. &nbsp;As they have failed to work as market makers, it shows that there is no difference between collective fund investors and mutual funds. &nbsp;When the market declined, mutual funds could have played a role to increase demand. Similarly, it can help in meeting demand if the market is booming. But such things have not happened.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	If we observe the portfolio of the mutual funds, we can find that the investment has not been&nbsp;</div>
<div>
	done sincerely.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-10-01',
			'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 third edition of Money Expo for the year 2013 will take place in the Capital from October 31 to November 2. Being the largest finance and investment show in Nepal, the expo will focus on the promotion of investment opportunities and wealth protection strategies.',
			'sortorder' => '1676',
			'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' => '1814',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (16-22 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Indian Foreign Secy calls on Prez Yadav, Chairman Regmi</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/ind(1).jpg" style="width: 500px; height: 213px;" /></div>
<div>
	&nbsp;</div>
<div>
	In her two-day visit to Nepal, India&rsquo;s Foreign Secretary Sujatha Singh called on President Dr Ram Baran Yadav and Interim Election Council Chairman Khil Raj Regmi separately last Sunday at the official presidential residence to discuss bilateral relations, expansion of mutual cooperation and the contemporary situation of Nepal.At the meeting with Chairman Regmi at Singhadurbar, Singh expressed her hope that the Constituent Assembly polls will be held on the scheduled date of November 19. &ldquo;The Government of India is ready to provide all kinds of assistance to that end,&rdquo; she reportedly said. Singh, who had arrived in Nepal last Saturday after being appointed as Foreign Secretary of the Government of India, also met with Nepali Congress president Sushil Koirala and CPN (UML) chairperson Jhalanath Khanal the same day. Senior officers at the Foreign Ministry, Indian Ambassador to Nepal Ranjit Rae and senior officers of the Indian Embassy were present in both meetings.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Europe Condemns Thursday Bandh&nbsp;</strong></span></div>
<div>
	The European Union (EU) and other countries have condemned the bandh enforced by the CPN-Maoist-led 33-party alliance last Thursday. Releasing a communiqu&eacute;, ambassadors of the European Union (Denmark, Finland, France, Germany, the UK and the EU Delegation), Norway and Switzerland deplored the bandha. Stating that a bandh undermine their joint development efforts and Nepal&rsquo;s investment, the ambassadors have asked all those who aspire to lead this nation to renounce the use of bandhs in the interest of the people. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Ready for Polls if Regmi Quits CJ Post: Gurung</strong></span></div>
<div>
	CPN-Maoist secretary Dev Gurung said they were ready to participate in the upcoming Constituent Assembly election process if the Chairman of the Interim Election Council, Khil Raj Regmi, quits the post of Chief Justice. Speaking at a programme in the capital last Thursday, Secretary Gurung claimed the current political crisis will end if Regmi tenders his resignation from the Chief Justice.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gorkha&rsquo;s Right Holders to Go to Fujel</strong></span></div>
<div>
	Human rights activists in Gorkha planned to assess the situation of Fujel VDC in a bid to rehabilitate Nanda Prashad Adhikari and Gangamaya Adhikari, who broke their hunger strike recently. The meeting of nine human rights organisations active in Gorkha held last Monday (September 9) decided to visit the Adhikari couple in Fujel VDC, ward no. 7, Chamati to assess the situation of the couple&rsquo;s rehabilitation. The couple last week had broken their indefinite hunger strike at Bir Hospital in Kathmandu following a three-point agreement with the government.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Singer Phatteman Passes Away</strong></span></div>
<div>
	<img alt="" src="/userfiles/images/sf.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 115px; height: 127px;" />Senior singer and musician Phatteman Rajbhandari passed away at the age of 77 last Tuesday while receiving treatment for lung cancer at Om Hospital, Chabahil in Kathmandu. An accomplished singer and musician, Phatteman has lent his voice to and composed music in more than 400 songs and devotional hymns. &nbsp;His last rites were performed at the Pashupati Aryaghat the same day as per Hindu rituals. Chairman of the Council of Ministers Khil Raj Regmi, political leaders, as well as a large number of people from different walks of life went to Pashupati to pay their last respects to the late singer. &nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 her two-day visit to Nepal, India’s Foreign Secretary Sujatha Singh called on President Dr Ram Baran Yadav and Interim Election Council Chairman Khil Raj Regmi separately last Sunday at the official presidential residence to discuss bilateral relations, expansion of mutual cooperation and the contemporary situation of Nepal.',
			'sortorder' => '1675',
			'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' => '1813',
			'article_category_id' => '142',
			'title' => 'Poll Update (16 - 22 September 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="Chief Election Officer Neel Kantha Uprety" src="/userfiles/images/1(3).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 106px;" />&ldquo;Finalise the number of CA seats&rdquo;</span></strong></div>
<div>
	Chief Election Officer Neel Kantha Uprety urged leaders of major parties to finalize the number of seats for the Constituent Assembly at the earliest. Speaking at a programme in the capital last Wednesday, he said that finalizing the number of seats would ease the election process for the Election Commission.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Surya Bahadur Thapa" src="/userfiles/images/2(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 111px;" />RPP Pushes for CPN-Maoist in Polls</strong></span></div>
<div>
	Election of the Constituent Assembly without the participation of the CPN-Maoist would render the process incomplete, said Rastriya Prajatantra Party (RPP) chairperson Surya Bahadur Thapa. Speaking at a press conference in Biratnagar last Thursday, Chairman Thapa advised the government and the major political parties to hold a decisive talk to bring the 33 party-alliance led by CPN-Maoist into the election process.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Kedarnath Upadhyay " src="/userfiles/images/3(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 114px;" />NHRC Ruling Against Children Use in CA Polls</strong></span></div>
<div>
	National Human Rights Commission Chairperson Kedarnath Upadhyay has urged political parties to not use children in the upcoming Constituent Assembly elections. Speaking at a function to sign an agreement with UNICEF on child rights promotion and advocacy project last Wednesday, Upadhyay said the NHRC will be more vigilant against using children.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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' => '',
			'sortorder' => '1674',
			'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' => '1812',
			'article_category_id' => '196',
			'title' => 'Weekly Roundup (9 - 15 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<ul>
	<li>
		The 12-point Birgunj Declaration that emerged from the Nepal Leadership Summit 2070 organised by New Business Age Pvt Ltd and Birgunj Chamber of Commerce and Industries on September 4 in Birgunj continues to draw the attention of the government, political parties and the business fraternity. Terming the declaration as a benchmark for setting government policies, Finance Minister Shankar Koirala said the consensus reached during the programme among former prime ministers to make the economy a common agenda would help the government create an investment- friendly environment in the country if implemented.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Despite CPN-Maoist&rsquo;s positive signal to join the poll process bringing a sigh of relief to the business community that has been reeling under political uncertainty, the bandh enforced by the party last Thursday caused significant loss in the economic sector. Factories were once again shut down, vehicles remained off the roads, businesses closed down and shops were shuttered.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		The debt-ridden Nepal Oil Corporation&rsquo;s decision to hike the price of petroleum products riled the student unions, airlines operators and the general public. The NOC decided to increase the price of petrol by Rs 5, kerosene by Rs 3 and aviation fuel by Rs 7 per litre. The NOC said it was compelled to hike the price following the price rise in the international market. The state-owned entity hiked the price for the second time after the formation of the Khil Raj Regmi-led government. The rise in price of petroleum products has once again initiated debates on automatic price fixation and the state&rsquo;s monopoly in the trading of petroleum products.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		The over-subscription for the reverse repo held by the Nepal Rastra Bank (NRB) indicates that the banking system is sitting on a huge cash deposits. Estimates put this at Rs 60 billion, and it is feared that it pose a high risk of liquidity-induced inflation during the forthcoming festive seasons. According to the NRB, it has received the bid from BFIs worth Rs 42 billion last week for the reverse repo issued by NRB worth Rs 10 billion. The NRB had issued the reverse repo in the previous week worth Rs 5 billion for the first time in three years and received a bid worth Rs 30 billion at that time. Lax credit demand, a rising flow of remittance and low investment from investors stalled in a wait-and-watch mood are the reasons behind the excess liquidity in the banking system.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Data shows that the domestic currency that has witnessed rapid devaluation in comparison to the US dollar in the last few weeks became slightly stronger last week. The Nepali Rupee was traded at Rs 101.71 per US dollar last Saturday, while it was traded at Rs 104.20 per US dollar on the same day of the previous week. As the Nepali currency against the US dollar rose slightly, the price of gold became relatively cheaper last week. &nbsp;The price of the precious yellow metal went down by Rs 3000 in a week trading at Rs 47,840 per 10 grams last Friday. The price on the same day of the previous week was Rs 50840 per 10 grams. Meanwhile, the government hiked the import duty of gold last Friday by 44 per cent. Duty price of the bullion has now reached Rs 5000 per 10 gram.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Data from the Department of Food Technology and Quality Control (DFTQC) revealed that adulteration in edible products has reached an average of 20 per cent, thanks to the government&rsquo;s apathy towards monitoring the market. Releasing the data, the Director General of the DFTQC rued the lack of strong laws to take stern action against adulterers. According to the department, adulteration ranging from 3 to 31 per cent of total content was found mostly in the bottled water, milk, oil and other consumable goods.</li>
</ul>',
			'published' => true,
			'created' => '2013-09-16',
			'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 12-point Birgunj Declaration that emerged from the Nepal Leadership Summit 2070 organised by New Business Age Pvt Ltd and Birgunj Chamber of Commerce and Industries on September 4 in Birgunj continues to draw the attention of the government, political parties and the business fraternity.',
			'sortorder' => '1673',
			'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' => '1811',
			'article_category_id' => '140',
			'title' => 'CPN-Maoist ‘Positive’ On Contesting CA Polls',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	In what appears to be a major shift from its previous intransigent stance to totally boycott the Constituent Assembly elections, the agitating CPN-Maoist party last week demonstrated flexibility to participate in the election process.</div>
<div>
	&nbsp;</div>
<div>
	CPN-Maoist, which had endorsed a strategy to disrupt the CA polls through its central committee meeting held in June 30 in Pokhara, expressed its commitment to join the election process if its demands, including the polls deferral for April, are met.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	During an all-party-meeting organized by President Dr Ram Baran Yadav at the Presidential Palace Shital Niwas last Friday, the poll-opposing party CPN-Maoist floated its four-point proposal as a way-out to the current political impasse.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The four-point proposal comprises convening a Round-Table-Conference (RTC) to make decisions on the basis of consensus, dissolution of the Khil Raj Regmi-led government to form all-party-government, or Regmi&rsquo;s resignation from the post of Chief Justice, and deferring CA polls for four months.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the parties representing the High Level Political Committee rejected outright the CPN-Maoist call for deferring polls, they have termed the proposal as positive and as an indication of the latter&rsquo;s willingness to come on board the election process.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	UCPN (Maoist) leader Narayan Kaji Shrestha informed the media that the CPN-Maoist chairperson Mohan Baidya requested President Yadav and leaders of other parties to not cast any doubt over his party&rsquo;s intentions to contest in the CA polls. &ldquo;We are ready to join the poll process,&rdquo; Shrestha quoted Baidya as saying.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Emerging from the meeting, coordinator of the HLPC and president of the Nepali Congress Sushil Koirala told the media: &ldquo;Discussions are heading towards a positive direction, but the election cannot be postponed to April as demanded by the CPN-Maoist.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Echoing the views of HLPC coordinator Koirala, CPN (UML) Chairman Jhalnath Khanal said, &ldquo;Among four, only two proposals of the CPN-Maoist are positive.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	CPN-Maoist Secretary Dev Gurung said that other parties have taken positively to the proposal floated by his party.</div>
<div>
	&nbsp;</div>
<div>
	The all-party-meeting has resumed again at the Presidential Palace Shital Niwas when this paper went to print on Sunday (September 15) regarding the four-point proposal of the CPN-Maoist.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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 major shift from its previous intransigent stance to totally boycott the Constituent Assembly elections, the agitating CPN-Maoist party last week demonstrated flexibility to participate in the election process.',
			'sortorder' => '1672',
			'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' => '1810',
			'article_category_id' => '139',
			'title' => 'Nepal And The World Brief (16 - 22 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Obama to Nominate Summers as Fed Chief&nbsp;</strong></span></div>
<div>
	US &nbsp;President Barack Obama will name former Treasury Secretary Lawrence &ldquo;Larry&rdquo; Summers as chairman of the Federal Reserve Board,Japan&rsquo;s Nikkei newspaper said on Friday. The newspaper, quoting unnamed sources, said that Obama was &ldquo;in the final stages&rdquo; and moving toward naming Summers. Debate in Washington has focused on whether Obama will pick Summers or Fed Vice Chair Janet Yellen to succeed Ben Bernanke, whose term as head of the U.S. central bank expires in January.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Growth in G-20 Countries Accelerates</strong></span></div>
<div>
	Growth in the Group of 20 emerging and advanced economies accelerated in the second quarter of this year to 0.9 percent from 0.6 percent in the previous three month period, the OECD said last Thursday. Most G20 members saw growth pick up momentum in April through May, with Turkey posting the highest quarter-on-quarter expansion of 2.1 percent, said the Organisation for Economic Cooperation and Development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>China&rsquo;s New Richest Man Worth $22 bn</strong></span></div>
<div>
	China&rsquo;s new richest man -- real estate and hotel king Wang Jianlin -- is now worth $22 billion, up from $10.3 billion in 2012, according to the latest Wealth Report from the Hurun Research Institute and marketing firm GroupM Knowledge. Wang easily ousted China&rsquo;s former No. 1, Zong Qinghou, who is now No. 2 with a net worth of $18.7 billion.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Plan for EU Financial Tax Found to be Illegal</strong></span></div>
<div>
	Legal advisers have cautioned 11 EU Governments that a proposal they are considering for a tax on financial transactions is illegal. The legal service that advises EU member states found that the suggested approach on which companies should be taxed is &ldquo;discriminatory,&rdquo; will probably distort competition, violates EU law and &ldquo;exceeds member states&rsquo; jurisdiction for taxation,&rdquo; according to a copy of the opinion published last week.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australian Unemployment Highest in 4 Years</strong></span></div>
<div>
	&nbsp;Australia&rsquo;s jobless rate edged up to 5.8 percent in August, a level not seen since the global financial crisis, with the sluggish economy shedding 10,800 jobs as the mining investment boom unwinds. &nbsp;The Australian Bureau of Statistics said the seasonally adjusted rate -- up from 5.7 percent in July -- the highest since August 2009.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => '',
			'sortorder' => '1671',
			'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' => '1809',
			'article_category_id' => '161',
			'title' => '‘Radio Easily Delivers Information About Development, Diversity And Democracy’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><img alt="Upendra Aryal " src="/userfiles/images/idp.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 221px;" />Equal Access Nepal, the Nepal wing of the Equal Access International, has been working on a wide range of developmental issues and themed radio programmes &mdash; aiming for a social change since 2004. Equal Access Nepal&rsquo;s Acting Executive Director Upendra Aryal spoke to Sanjeev Sharma of The Corporate about the organisation&rsquo;s initiatives. <strong>Excerpts :</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of Equal Access in Nepal?</strong></span></div>
<div>
	We are currently working in media development and behaviour change communication. &nbsp;We have been trying to reach out to the audience of different classes, ages, and communities through radio. I feel that radio is the most effective medium because of its easy accessibility and the broadcast could reach the remotest parts of the country. We have been working in various sectors such as family health care, maternal health, child care, family planning, Early Grade Reading (EGR), Early Childhood Development (ECD), primary education, community empowerment, youth and teenage problems etc. We are also focused on the political issues through our radio programmes.</div>
<div>
	&nbsp;</div>
<div>
	Nepal is witnessing a remarkable growth in the radio broadcast sector. The liberal media policies endorsed by the government (after the democratic change) have helped the broadcast sector to flourish in this country. However, there are some issues concerning the quality of the radio programmes. A successful radio presentation is combined with the good quality of mixing, scripting, innovative formatting and various other aspects of post-production.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the core working areas of Equal Access in Nepal?</strong></span></div>
<div>
	We are working in health, education, political, constitutional segment and youth-oriented programmes. The programmes are focused on media education, gender issues, constitution drafting process, good governance etc. One can listen to such content in the widely listened radio programme known as &ldquo;Naya Nepal&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, Mamata (maternal health), Deshpardesh (cross border content, which include health issues), &lsquo;Saathi Sanga Maan Ka Kura&rsquo; (sharing thoughts with friends) are our popular radio programmes focused on various health and peer pressure issues. Likewise, &lsquo;Samajdari&rsquo;, a series on spouse communication and &lsquo;Kaam ka Kura&rsquo; (based youth employment issues) are also widely listened. Equal access&rsquo;s contents are taken as meaningful and useful. Through these programmes, we are reaching nearly to 12.5 million listeners across the country.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How can we utilize radio as means of development?</strong></span></div>
<div>
	Radio has evolved as one of the most effective means of development. We are using radio as a tool to facilitate the dialogue and conversation about sustainable development. On an average, the Nepali radio stations are broadcasting for 18 hours a day reaching across all the corners of country. This shows that the radio penetration can be of great help to deliver the messages quickly. Radio broadcast is also interlinked with issues in various cultural or linguistic diversities and democracy. We can take radio as a &lsquo;3D&rsquo; medium because it helps to deliver messages and information about issues related to development, diversity and democracy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of radio in promoting micro-entrepreneurship?</strong></span></div>
<div>
	Micro-entrepreneurship is so far concerned with the income generation, village banking, micro-credit and ultimately the economic empowerment of underprivileged people. Radio stations across the country are broadcasting various programmes on micro-financing and livelihood solutions. However, radio can&rsquo;t be taken as an effective medium for income generation training purposes. For example, a website can better explain farmers about the farming techniques with illustrations and pictures which radio is unable to explain. But we can integrate the radio programmes and suggest the farmers about the links to such websites.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Equal Access Nepal has been emphasizing the use of technology to deliver information to the general public?&nbsp;</strong></span></div>
<div>
	Information technology has helped us a lot. For instance, different communities can share their messages through our websites. It can encourage citizen journalism as well. We operate some blog sites such as www.meroreport.net and www.mediamanch.net to facilitate citizen journalism across the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, we also offer free SMS service which is integrated to the above mentioned websites. The websites include interactive voice recording system that enables to convert recorded voice into text format. This is providing interactive platform to share messages where others can also give opinions on various issues.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of Nepali media in terms of economic and social development of the country?</strong></span></div>
<div>
	Nepali media sector is vibrant. Though they mostly cover political issues but economic, social and environmental affairs are also given ample space in the newspapers, television, radios and websites. Nepal media are disseminating information of nearly all the sectors. We can take examples of some successful publications. In my opinion the &lsquo;Shikshyak&rsquo; magazine is a very good example which is providing valuable information on education and development. Though we still lack thoughtful journalism, Nepali media sector has been its role positively in socio-economic development of the country.&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Equal Access Nepal, the Nepal wing of the Equal Access International, has been working on a wide range of developmental issues and themed radio programmes — aiming for a social change since 2004.',
			'sortorder' => '1670',
			'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' => '1808',
			'article_category_id' => '137',
			'title' => 'China Becomes World’s Third Largest Investor After US, Japan',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China has emerged as the world&rsquo;s third largest investor as Foreign Direct Investment (FDI) from the giant jumped by 17.6 percent last year defying a global pattern. China&rsquo;s outbound FDI rose 17.6 percent year-on-year in 2012 to a record high of USD 87.8 billion, according to the 2012 Statistical Bulletin of China&rsquo;s Outward Foreign Direct Investment (ODI) by the Ministry of Commerce. Even as global ODI slid 17 percent last year amid uncertainties facing the world economy, China is now world&rsquo;s third-largest investor, following the United States and Japan, for the first time since the country began to release the data a decade ago.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China currently holds about USD 3.30 trillion foreign exchange reserves. About USD 1.20 trillion is invested in US bonds. China was world&rsquo;s sixth-largest investor in 2011, with an ODI flow of USD 74.65 billion. Last year&rsquo;s increase represented an acceleration from 8.5 per cent in 2011, when the global economic recovery was weak in the face of continuing financial turmoil in Europe and the United States. &ldquo;The Chinese government introduced measures to encourage outbound direct investment in pursuit of the &lsquo;going abroad&rsquo; strategy, and the country&rsquo;s outward FDI maintained robust growth in recent years,&rdquo; &nbsp;said Zhou Zhencheng, commercial counselor of the department of outward investment and economic cooperation of the Ministry of Commerce. Huo Jianguo, president of the Chinese Academy of International Trade and Economic Cooperation, was quoted by the state-run China Daily as saying that the surge in ODI was mainly driven by domestic enterprises eager to tap overseas markets and profit from using global resources. &ldquo;Debt crises and slowing growth in developed economies opened up great opportunities for Chinese enterprises to invest abroad, and the renminbi&rsquo;s appreciation helped the process,&rdquo; Huo said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China&rsquo;s non-financial ODI went up 13.3 per cent last year to USD 77.73 billion, accounting for 88.5 per cent of the total. Financial ODI surged 65.9 per cent to USD 10.07 billion, the bulletin said. Investment in US jumped 123.5 per cent to USD 4.05 billion, making it the second-largest destination for China&rsquo;s ODI, the report said. Total ODI to developed economies was around USD 13.51 billion. Chinese investors have established about 22,000 overseas enterprises in 179 countries and regions, &ldquo;and about 79.2 per cent of them made profits or maintained a balance&rdquo;, Zhou said. He warned that Chinese enterprises are facing rising risks and challenges, including political unrest in Africa and Southeast Asia. Other challenges include increasing competition from developed economies and restrictions in those markets.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<span style="font-size:14px;"><strong>Chinese Investment in Nepal Rising</strong></span></p>
</div>
<div>
	The northern neighbour has been gradually increasing its investments in Nepal. According to Nepal government&rsquo;s latest data, in the fiscal year 2012/13, China committed highest foreign direct investment (FDI) in Nepal surpassing India. In the last FY China alone accounted for 30.89 percent of the total amount of the FDI commitment in Nepal. The data showed that Nepal has received Rs 19.39 billion worth of Chinese FDI against Rs 11.49 billion in the previous FY. In FY 2011/12, China stood second in terms of investments in the country after India.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the last FY, investors from mainland China and Hong Kong registered 96 and four investment projects respectively. The investment projects mainly include medium and small businesses such as hotels, restaurants, travel agencies, handicrafts, fisheries and agricultural industries. However, Chinese investors are also pouring their investments in big infrastructure projects of Nepal. Sinohydro Resources Ltd, a Chinese multinational giant has invested in the 50 megawatts Upper Marsyangdi &lsquo;A&rsquo; hydropower project, which is under construction. Similarly, Sinohydro and other Chinese contractors are also developing major Nepali hydel projects such as the 456 MW Upper Tamakoshi, 30 MW Chamelia, 14 MW Kulekhani-3.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-23',
			'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' => 'China has emerged as the world’s third largest investor as Foreign Direct Investment (FDI) from the giant jumped by 17.6 percent last year defying a global pattern.',
			'sortorder' => '1669',
			'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' => '1807',
			'article_category_id' => '135',
			'title' => '‘Nepal Should Wait And Watch’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">The pinch of continued depreciation of the nepali rupee is hurting nepali economy. This has renewed the debate &nbsp;on nepal&rsquo;s currency policy: &nbsp;whether to leave the Nepali currency pegged on the Indian Rupee, or to just devalue it to reflect the current realities asNepal imports most of the daily necessites and industria raw material and the exportable surplus is very low.The Corporate Weekly this week spoke to economists to gather their views on the debate. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Prof Dr Navaraj Kandel" src="/userfiles/images/nd.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 146px;" />Prof Dr Navaraj Kandel</span></strong></div>
<div>
	<span style="font-size:14px;">Central Department of Economics, Tribhuvan University</span></div>
<div>
	The most prominent impact of the increasing value of the US dollar against the Rupee would be a sharp rise in the price of imported goods. The tendency of businessmen in countries like Nepal is to increase the prices when the value of dollar rises but to make very small reduction in prices when the dollar devaluates. This leaves the consumer victimized. Therefore, it is better to leave our currency pegged as we import most products from India and this pegged policy gives us a very stable market.</div>
<div>
	&nbsp; &nbsp;&nbsp;</div>
<div>
	<span style="font-size:14px;"><img alt="Prithvi Raj Ligal" src="/userfiles/images/prl.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 141px;" /><strong>Prithvi Raj Ligal</strong></span></div>
<div>
	<span style="font-size:14px;">Former Vice-Chairman, National planning commission</span></div>
<div>
	Nepal has deeply rooted economic relations with India and has pegged its currency with India&rsquo;s so that there is stability in the currency. The peg to maintain smooth trade and commercial relations with the world at large. Despite many informal trade relations with India, our market remains stable thanks to the peg. However, according to the IMF, in comparison to the Indian currency in the past 3-4 years, the Nepali Rupee has devaluated by 15 per cent. Therefore, these policies have to be evaluated by comparing both countries&rsquo; currency values. However, the consistent devaluation of the Indian Rupee is definitely making market prices unstable, as businessmen have &nbsp;started setting prices of the imported goods according to their own forecasts of currency values in the immediate future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Deependra Bahadur Kshetry" src="/userfiles/images/dbk.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 151px;" />Deependra Bahadur Kshetry</span></strong></div>
<div>
	<span style="font-size:14px;">Former governor, Nepal Rastra Ban</span>k</div>
<div>
	It should not be debated whether the currency has to be pegged or not. The debate, rather, should be about how to avoid such devaluation. Since Nepal Rastra Bank has already made it clear that it will not remove the peg, and since our economy is very fragile at this point, the country might face a great inflation if we remove the peg abruptly. The Indian economy has been working a lot to unwind this devaluation, therefore we will have to wait and watch till there is certain level of stability in the Indian Rupee. We should also try and increase our foreign currency reserve. If that is not possible we should try to maintain it at the current level.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 pinch of continued depreciation of the nepali rupee is hurting nepali economy. This has renewed the debate  on nepal’s currency policy:  whether to leave the Nepali currency pegged on the Indian Rupee,',
			'sortorder' => '1668',
			'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' => '1806',
			'article_category_id' => '134',
			'title' => '‘Nepal Needs Urgent Reforms, Not Tourism Year Gimmick’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="Raja Ram Giri," src="/userfiles/images/iv.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 221px;" />Raja Ram Giri</strong>, an NRN based in London, is Director of Samsara Nepal Financial Services Ltd, the first money transfer company in the UK to be owned by a Nepali. He is also the Managing Editor and Publisher of Himalayas magazine, an annual publication that promotes Nepali tourism in the UK and Europe. Giri spoke to Britant Khanal of The Corporate Weekly about the performance of his businesses in the UK.<strong> Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the concept behind launching a magazine like Himalayas in the UK? Who are its readers and what has been the response thus far? &nbsp;&nbsp;</strong></div>
<div>
	This magazine was not the reason why I went to UK. Initially, I wanted to study Information Technology. I was studying at a university where there were no students from our side of the world which made me feel very alien. One day a professor told me that he had been to my country. But when he described what he saw, I realized he was talking about Darjeeling, not Nepal. That was when I quit IT and shifted to Tourism Studies and planned to do something that would make the world recognize my country. So, this magazine was an outcome of my ego and pride. It has been doing a decent job in making our country known in London and many parts of Europe. &nbsp; &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What has your role been so far in promoting Nepali Tourism to the rest of the world?</strong></div>
<div>
	When I started studying tourism, Nepal was celebrating the Visit Nepal Year 1998. &nbsp;Since the country was celebrating a national festival, I thought of doing something along the same lines, and then contacted the Nepali embassy in the UK. With their help, I held a small cultural programme at my college in front of almost 1,300 students explaining what Nepal is and what it looks like. The programme was very much appreciated. Since then, I have been doing the same job trying to tell people how beautiful my country is and taking pride in it. &nbsp; &nbsp; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are some tangible hindrances seen in promoting Nepali tourism to the rest of the world?</strong></div>
<div>
	What our politicians have to understand is that declaring a tourism year will not bring tourists. They will have to work on tourism policies to attract tourists instead of showering flowers from helicopters on the day of declaration and spending millions on inaugurals. They will have to explain to tourists what Nepal looks like and what our culture is. They could have come with cultural programmes in famous places of different cities like the Trafalgar Square, London or may be some place in New York, too. Another basic obstruction is transportation - the Government of Nepal has not been able to provide sufficient number of flights of the Nepali airlines to and from tourist originating areas.</div>
<div>
	&nbsp;</div>
<div>
	<strong>You are also associated with the Kathmandu-Kulekhani-Hetauda Tunnel Road. Could you tell us a little about that?</strong></div>
<div>
	We have been working on the Kathmandu-Kulekhani-Hetauda tunnel road and it is one of the first private sector initiatives in structural design and work. This project seems very promising for transportation. It will assist in the smooth functioning of business and economy. This project also hopes to bring a lot of investments from Samsara UK and a lot from non-resident Nepalis living in UK. There are reasons why these kinds of project are not pacing up in our country. For one, we are still using the traditional way of construction. We still see workers using hammers on the road whereas technology around the globe has taken a leap ahead. Therefore, we are working hand-in-hand with other domestic companies to bring required changes in infrastructure to speed up the pace of work.</div>
<div>
	&nbsp;</div>
<div>
	<strong>You own a company called &lsquo;Samsara Nepal&rsquo; in the UK. What is the function of this company and what are your future plans for Nepal?</strong></div>
<div>
	Samsara Nepal is basically a company for remittance. This company too was an outcome of an incident. I was working in some other company back then in the UK and had sent some money back home which unfortunately went to Mumbai because the company I sent the money through thought Kathmandu was in India, and had written KTM India in the address. The money went to an Indian branch which was in Mumbai. Later, I filed a complaint and resent the money.</div>
<div>
	&nbsp;</div>
<div>
	Sixteen years back, when I first went to the UK, there were no proper and reliable remittance companies to send money through. There was an informal money sending mechanism popularly known as the Hundi system of which the government has no record of. Therefore, we came up with an idea of setting up a company which would provide a safe way to send money back home. We have now been working with Sunrise Bank, Himalayan Bank and Standard Chartered Bank in sending hard earned remittances back home. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Besides sending money from London to Nepal, this company also wants to promote our national economy. Samasara Nepal wants to suggest the government to impose a certain level of taxes on the remittance which immigrants could use after returning back to the country. This would benefit the individual and the nation overall, because while an amount approximately equal to 27 per cent of Nepal&rsquo;s GDP comes in as remittance, it has not been invested in a productive sector as far as I know. The government should focus on capitalizing on remittance by investing it in productive sectors.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Raja Ram Giri, an NRN based in London, is Director of Samsara Nepal Financial Services Ltd, the first money transfer company in the UK to be owned by a Nepali. He is also the Managing Editor and Publisher of Himalayas magazine, an annual publication that promotes Nepali tourism in the UK and Europe. Giri spoke to Britant Khanal of The Corporate Weekly about the performance of his businesses in the UK.',
			'sortorder' => '1667',
			'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' => '1805',
			'article_category_id' => '122',
			'title' => 'Golyan Group: Looking Beyond Textiles',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	New Model of CSR: Social Enterprise</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Pawan Golyan, Chairman of Golyan Group is dedicated to Corporate Social Responsibility (CSR) and treats his CSR projects as invaluable business ventures. He has adopted two villages in Kailali district and is working for enhancing the livelihood of local people by providing opportunities for sustainable source of income. These two villages have around 340 households with a total population of nearly 1500 people.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Nauniya, a village Golyan adopted has a majority of settlements of mukta kamaiya (freed bonded labours). &nbsp;Each household owns a small piece of land provided by the government and a house to live in, built by a donor agency. Golyan says that the male members of the community have been making their living by migrating to India after completing rice cultivation while women are mostly unemployed.&nbsp;</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Golyan helped install boring pumps for irrigation in the village. Similarly, he also established a training school targeting young women to train them in sewing and knitting. He says the first batch has completed the course and soon will find jobs within the locality. Golyan has also set up a tapari (plate made of leaves) factory. He has not only made investments but has also been managing the manufacturing unit. So far, the company has installed five machines for producing taparis and plans to increase to 30 machines. &ldquo;Then the factory can employ around 1000 people,&rdquo; says Golyan.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	He explains that out of the total profit made through this venture, 20 per cent goes for development work while the rest is used in replicating similar projects in other villages. &ldquo;I am doing all this to make the project sustainable so that it can continue even if am not there to look after them,&rdquo;&nbsp;</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Golyan says.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Around five kilometres north from Nauniya, Golyan has adopted another village with same socio economic situation like Nauniya. &nbsp;People have not been involved in income generating activities despite having land to make decent earnings. Golyan went there and requested locals to come up with a list of activities they could be involved in and assured them financial assistance. The group installed boring pumps in the village for irrigation after which the locals started vegetable farming after harvesting paddy.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	The group has also started a buffalo farming project. For this project, Rs 1.2 million was collected from 12 farmers while the company invested Rs 2 million, which was borrowed as soft loan. Then 26 buffaloes were brought from Haryana, India. &nbsp;To assist the farmers, the group has trained and employed a vet while one person is hired to monitor farmers&rsquo; activities to ensure they utilise the earnings in paying back the loan and for purchasing feed for the buffaloes. Golyan wants to develop this project as an example so that it can be replicated in other villages and be a model for fellow businessmen.&nbsp;</div>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<strong>--By Gaurav Aryal</strong></p>
<table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;">
	<tbody>
		<tr>
			<td>
				<img alt="Pawan Golyan, Chairman, Golyan Group" src="/userfiles/images/pg%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 220px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div>
						<strong>Pawan Golyan</strong></div>
					<div>
						Chairman, Golyan Group</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group, known to have a strong foothold in the textile industry, is planning to venture into the tourism industry of late. As a first venture into the new sector, a three star hotel is under construction at Baneshwor Height of Kathmandu. Pawan Golyan, Chairman of the group, says that the hotel will start its services within the next two years.&nbsp;</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	According to Golyan, the hotel&rsquo;s prime clients will be transit tourists as it will be located close to the Tribhuvan International Airport and Pashupatinath Temple, a popular Hindu shrine. The hotel will have 115 rooms. Golyan reveals that the company will tie up with an international hotel chain once the construction is completed.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The group plans to develop tourism as one of its core sectors. Golyan says that the hotel is being developed as a trial project before leaping into the industry. If things go as planned, the group plans to establish two and three star hotels in industrial hubs such as Biratnagar, Birgunj and Pokhara. &ldquo;We do not just dive into any business sector. We first try it to understand the scene before we move forward,&rdquo; he explains.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<strong><span style="font-size:14px;">Weaving the Industrial Base</span></strong></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group was founded by Sohan L Golyan, father of Pawan Golyan around five and a half decades ago with trading. The first manufacturing venture he established was a button factory, after which textile factories followed. In the course of the group&rsquo;s evolution, it involved itself in manufacturing a wide range of products such as slippers, zippers, audio cassettes among others, but they closed it down later. The textile and fabric based companies, however, lived on.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	When business was passed on to the second generation, Pawan Golyan started Reliance Spinning Mills Limited, one of the signature companies of the group. He says that this company registers an annual turnover of roughly Rs 5 billion and employs 3500 labours and 300 executives. Golyan claims that this is one of the largest industries in Nepal in terms of labour size and capital base. The group has invested around Rs 4 billion in this spinning mill alone.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<span style="font-size:14px;"><strong>Textile&rsquo;s Strength</strong></span></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Though the group went on exploring, it also started experimenting with various other sectors, textile manufacturing continued by extending product line from acrylic yarn to pashmina and packing sacks. Golyan says that the group at one point tried steel manufacturing but did not succeed as much as textiles. &nbsp;The group now considers textiles as its specialised sector, whether it is pashmina, cashmere sweaters, yarns or woven sacks.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The group now has five companies specialised in the textiles industry. Reliance Spinning, a state of the art spinning mill, manufactures spun yarns mainly in acrylic, polyester, viscose and blends. The products of this company are mostly exported to India. According to Golyan, 70 per cent of the products are exported to India, 20 to 25 per cent is sold in the domestic market, and the rest are exported to other countries. The company is now working towards producing cotton yarns to meet all domestic requirements.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Similarly, 95 per cent of cashmere and pashmina products produced by two companies - Tricot Industries and Himali Pashmina - are exported to the European, Australian and the US markets. The export surplus is sold in the domestic market through a showroom at Durbarmarg, Kathmandu. Tricot Industries was upgraded to a fully automated system around one and a half year ago.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Products such as circular knitted fabrics and woven sacks produced by Shivam, a third company, have their majority markets beyond Nepal - mostly in India, Bangladesh and Turkey. According to Golyan, around 80 per cent of Shivam Plastic&rsquo;s products are exported to India while remaining 20 per cent is sold in other countries including Nepal.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<span style="font-size:14px;"><strong>Expanding Business</strong></span></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group refrains from expanding the production capacity of its manufacturing units because of power shortage. &ldquo;If we had 24 hour power supply, we could double the production capacity of Reliance Spinning Mills and create jobs for 4000 people. But most of our factories are operating at 30 to 60 per cent of the installed capacity,&rdquo; he explains.&nbsp;</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Besides this, the group is determined to revive its interest in hydropower business. It had dropped five projects with a total capacity of 20 MW after procedural delays and obstruction from local bodies. Golyan says that the group will start researching other possible projects in the next three months.</p>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; text-align: center;">
						<strong><span style="font-size:16px;">New Model of CSR: Social Enterprise</span></strong></p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Pawan Golyan, Chairman of Golyan Group is dedicated to Corporate Social Responsibility (CSR) and treats his CSR projects as invaluable business ventures. He has adopted two villages in Kailali district and is working for enhancing the livelihood of local people by providing opportunities for sustainable source of income. These two villages have around 340 households with a total population of nearly 1500 people.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Nauniya, a village Golyan adopted has a majority of settlements of mukta kamaiya (freed bonded labours). &nbsp;Each household owns a small piece of land provided by the government and a house to live in, built by a donor agency. Golyan says that the male members of the community have been making their living by migrating to India after completing rice cultivation while women are mostly unemployed.&nbsp;</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Golyan helped install boring pumps for irrigation in the village. Similarly, he also established a training school targeting young women to train them in sewing and knitting. He says the first batch has completed the course and soon will find jobs within the locality. Golyan has also set up a tapari (plate made of leaves) factory. He has not only made investments but has also been managing the manufacturing unit. So far, the company has installed five machines for producing taparis and plans to increase to 30 machines. &ldquo;Then the factory can employ around 1000 people,&rdquo; says Golyan.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						He explains that out of the total profit made through this venture, 20 per cent goes for development work while the rest is used in replicating similar projects in other villages. &ldquo;I am doing all this to make the project sustainable so that it can continue even if am not there to look after them,&rdquo; Golyan says.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Around five kilometres north from Nauniya, Golyan has adopted another village with same socio economic situation like Nauniya. &nbsp;People have not been involved in income generating activities despite having land to make decent earnings. Golyan went there and requested locals to come up with a list of activities they could be involved in and assured them financial assistance. The group installed boring pumps in the village for irrigation after which the locals started vegetable farming after harvesting paddy.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						The group has also started a buffalo farming project. For this project, Rs 1.2 million was collected from 12 farmers while the company invested Rs 2 million, which was borrowed as soft loan. Then 26 buffaloes were brought from Haryana, India. &nbsp;To assist the farmers, the group has trained and employed a vet while one person is hired to monitor farmers&rsquo; activities to ensure they utilise the earnings in paying back the loan and for purchasing feed for the buffaloes. Golyan wants to develop this project as an example so that it can be replicated in other villages and be a model for fellow businessmen.</p>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Some Companies under Golyan Group</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Textile Manufacturing</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Reliance Spinning Mill</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Shivam Plastic Industries</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Tricot Industries&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					(Formally Makalu Cashmere)</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Himali Pashmina</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Financial Services</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>NIC Asia Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>NMB Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Nepal Life Insurance Company Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Lumbini Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Prudential Insurance Company Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					International Trade</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Atlanta Trading Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Westar Galaxy Trading Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Real Estate</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Westar Properties Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>City Properties</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Management&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					The group employs around 7000 staff. Pawan Golyan says that none of the companies have faced labour strikes and operation has not halted even for a minute. Cordial relationship maintained with workers has prevented disputes and also helped make employees a part of the Golyan family. Fair dealing and fair treatment to employees is the principle of the group when it comes to human resource management, according to Golyan. He says that the major problem is labour shortage rather than other functional wrangling. &nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Hi-life on Westar Properties</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Westar Properties Pvt Ltd, a subsidiary of the group, founded in 2008 has been developing apartment properties with technical collaboration with Westar Properties, Dubai. According to Golyan, 212 apartments are almost ready to be handed over to their buyers. &ldquo;We have delivered better quality than what we promised. There are no other projects in my knowledge that match the quality, facilities and price of this project, even in India,&rdquo;&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					he claims.</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					The group is planning to develop another high-end residential high-rise apartment at Soaltee Mode with premium facilities. According to Golyan, this new property will have state-of-the-art facilities including a gym, cinema hall, squash court, badminton and tennis courts, a jogging track and oxygen room among others. &nbsp;Golyan promises to complete this project by the first quarter of 2015.</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; text-align: center;">
					<strong><span style="font-size:16px;">Some Companies under Golyan Group</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Textile Manufacturing</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Reliance Spinning Mill</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Shivam Plastic Industries</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Tricot Industries&nbsp;</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					(Formally Makalu Cashmere)</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Himali Pashmina</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Financial Services</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;NIC Asia Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;NMB Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Nepal Life Insurance Company Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Lumbini Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Prudential Insurance Company Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">International Trade</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Atlanta Trading Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Westar Galaxy Trading Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Real Estate</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;<span class="Apple-tab-span" mce_style="white-space:pre" style="white-space: pre;"> </span>Westar Properties Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;<span class="Apple-tab-span" mce_style="white-space:pre" style="white-space: pre;"> </span>City Properties</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Management&nbsp;</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					The group employs around 7000 staff. Pawan Golyan says that none of the companies have faced labour strikes and operation has not halted even for a minute. Cordial relationship maintained with workers has prevented disputes and also helped make employees a part of the Golyan family. Fair dealing and fair treatment to employees is the principle of the group when it comes to human resource management, according to Golyan. He says that the major problem is labour shortage rather than other functional wrangling. &nbsp;</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<span style="font-size: 14px;"><strong>Hi-life on Westar Properties</strong></span></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					Westar Properties Pvt Ltd, a subsidiary of the group, founded in 2008 has been developing apartment properties with technical collaboration with Westar Properties, Dubai. According to Golyan, 212 apartments are almost ready to be handed over to their buyers. &ldquo;We have delivered better quality than what we promised. There are no other projects in my knowledge that match the quality, facilities and price of this project, even in India,&rdquo; he claims.</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					The group is planning to develop another high-end residential high-rise apartment at Soaltee Mode with premium facilities. According to Golyan, this new property will have state-of-the-art facilities including a gym, cinema hall, squash court, badminton and tennis courts, a jogging track and oxygen room among others. &nbsp;Golyan promises to complete this project by the first quarter of 2015.</p>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 Golyan Group, known to have a strong foothold in the textile industry, is planning to venture into the tourism industry of late. As a first venture into the new sector, a three star hotel is under construction at Baneshwor Height of Kathmandu. Pawan Golyan, Chairman of the group, says that the hotel will start its services within the next two years.',
			'sortorder' => '1666',
			'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
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

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 &quot;&quot; [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' => '1819',
			'article_category_id' => '146',
			'title' => 'Visual Edit Vol 3 Issue 31',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Visual Edit',
			'sortorder' => '1680',
			'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' => '1818',
			'article_category_id' => '147',
			'title' => 'Nepal Leadership Summit 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepal Leadership Summit (Roadmap of Economic Revolution: Vision 2080 BS) is an appreciable step taken. It is indeed good initiation that politicians signed a 12-point declaration. But this only is not enough. Politicians should stick to their commitment and the agreement should be turned into action. I would like to congratulate and thank Birgunj Chamber of Commerce and Industries (BiCCI) and New Business Age Group for the historical endeavour. Country now has to head towards economic revolution leaving political confrontations aside. Hope the event will have a positive impact on country&rsquo;s economy. And hope it will help in the discourse of making Birgunj a major industrial hub of the country.</div>
<div>
	<strong>- Sharmila Dulal</strong></div>
<div>
	<em>Madan Bhandari Memorial College</em></div>',
			'published' => true,
			'created' => '2013-09-16',
			'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 Leadership Summit (Roadmap of Economic Revolution: Vision 2080 BS) is an appreciable step taken.',
			'sortorder' => '1679',
			'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' => '1817',
			'article_category_id' => '105',
			'title' => 'Cancel The Order',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	A restaurant from Thamel sent an order to a distributor of liquor for a large amount of goods totaling a great deal of money.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The distributor noticed that the previous bill hadn&rsquo;t been paid. The collections manager sent an email saying, &ldquo;We can&rsquo;t deliver your new order until you pay for the last one.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The next day the collections manager received a reply, &ldquo;Please cancel the order. We can&rsquo;t wait that long. &rdquo; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>-ML</strong></div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'A restaurant from Thamel sent an order to a distributor of liquor for a large amount of goods totaling a great deal of money.',
			'sortorder' => '1678',
			'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' => '1816',
			'article_category_id' => '144',
			'title' => 'End Strike To Stimulate Economy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	No-brainer that the Nepali industries, and the entire economy, bear a daily monetary loss in billions due to bandh. Nepal&rsquo;s economy, which has been suffering due to lack of security, higher interest rates, and irregular power supply and liquidity crunch, will ultimately collapse if such general strikes are frequent.</div>
<div>
	&nbsp;</div>
<div>
	The general public and the entrepreneurs feel disappointed over the major political parties who have failed to resolve the conflict through mutual talks. Unfortunately, there is no respite at sight. With the approaching Constituent Assembly election in Nepal, it is for sure that disgruntled parties will call frequent strikes to exert pressure on the government to fulfill their demands.</div>
<div>
	&nbsp;</div>
<div>
	For instance, the country witnessed two general strikes last week clearly hinting that the business fraternity will suffer more if there is not political consensus against bandh. Though there are laws that empower the local authorities to punish those who go for organised bandhs, the authorities concerned are not invoking these laws, as most of the bandhs are called for political reasons.</div>
<div>
	&nbsp;</div>
<div>
	Almost all walks of life are victimized by general strikes. Besides, business community, the daily wage earners and small scale entrepreneurs are the major victims of such strikes. The market witnesses price hike to more than triple due to short supply of vegetables, and food grains.</div>
<div>
	&nbsp;</div>
<div>
	It undermines confidence in the country&rsquo;s economy, and if we undermine confidence, we are destabilising investment. It is hitting our economy and yet this has not deterred the organizations or groups of people seeking &lsquo;justice&rsquo; from going ahead with bandh or blockade.</div>
<div>
	&nbsp;</div>
<div>
	In a democratic country, every citizen may have the rights to protest against injustices meted out to them. But at the same time it should be recognized that &lsquo;forced bandh&rsquo; violates human rights as well.</div>
<div>
	&nbsp;</div>
<div>
	In the economic realm, no more incitement to violence should be tolerated if we want prosperity in the country. The entrepreneurs have long been appealing the political parties to resolve the issue through dialogue as soon as possible. Nepal should be a bandh free zone, if we want double digit growth. Investors will shy away if there is frequent bandh in the country. There is an urgency to rethink the existing culture of bandh by the political parties.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'No-brainer that the Nepali industries, and the entire economy, bear a daily monetary loss in billions due to bandh. Nepal’s economy, which has been suffering due to lack of security, higher interest rates, and irregular power supply and liquidity crunch, will ultimately collapse if such general strikes are frequent.',
			'sortorder' => '1677',
			'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' => '1815',
			'article_category_id' => '145',
			'title' => 'Problems In Mutual Funds',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;">The third edition of Money Expo for the year 2013 will take place in the Capital from October 31 to November 2. Being the largest finance and investment show in Nepal, the expo will focus on the promotion of investment opportunities and wealth protection strategies. In the expo, a separate interaction entitled &lsquo;Mutual Fund: Another Attraction of Investment&rsquo; will be organized. New Business Age recently conducted a discussion on the same issue and experts presented their opinions.<strong> Excerpts:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Niraj Giri Spokesperson, Sebon" src="/userfiles/images/ng.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 187px;" />Niraj Giri </strong></span></div>
<div>
	<span style="font-size:14px;">Spokesperson, Sebon</span></div>
<div>
	&bull;Financial literacy is crucial for the expansion of mutual funds. Literacy is necessary for policy makers as well as investors.&nbsp;</div>
<div>
	&bull;The Mutual Funds have been established to develop and expand share markets in the country. The fund is aimed at reducing the problem of institutional investment in the share market. This may also help expand the stock market.</div>
<div>
	&bull;Even investors should put forth their initiatives for financial literacy. In &nbsp;developed countries, investors are more proactive than the regulator in initiating financial literacy programmes.&nbsp;</div>
<div>
	&bull;Our market is completely focused in Kathmandu which is another stumbling block for mutual funds.</div>
<div>
	&bull;Absence of an independent mechanism to fix the price of securities is another problem.</div>
<div>
	&bull;Citizen Investment Trust (CIT) has been failing to work in line with its objective. We have to develop it as a market maker.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Pravin Raman Parajuli  CEO, Nabil Investment Banking Ltd " src="/userfiles/images/prp.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 187px;" />Pravin Raman Parajuli </strong></span></div>
<div>
	<span style="font-size:14px;">CEO, Nabil Investment Banking Ltd&nbsp;</span></div>
<div>
	&bull;We have equal opportunities in mutual funds. However, managing the fund is indeed a challenging job.&nbsp;</div>
<div>
	&bull;A mutual fund plays a key role in providing security to its unit holders. That is why it should not be restricted to buy and sell shares.</div>
<div>
	&bull;We have 21,000 investors associated with our group. Most of them are grass root investors. We have also found that some of them are investing assuming mutual funds as IPOs.</div>
<div>
	&bull;Worldwide practice in mutual funds involves professional investment management and risk diversification. But the big question now is: have we been able to diversify risks? There have been some problems due to market limitations. Our market is full of banks and financial sectors. If we have to diversify our investment in the future, there seems to be no place for it.</div>
<div>
	&bull;Investors should also think about where they should invest next and what would be its risks and consequences.</div>
<div>
	&bull;We have to think about long term consequences rather than temporary ones.</div>
<div>
	&bull;We have to think about bringing real sector companies into the public for market diversification.</div>
<div>
	&bull;The nation should also take steps on awareness on mutual funds.</div>
<div>
	&bull;Stock availability is another problem. Out of total listed shares, only 8-10 per cent are available for trade.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Narayan Prasad Ghimire Chief, Share Division, Citizen Investment Trust " src="/userfiles/images/npg.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 188px;" />Narayan Prasad Ghimire</span></strong></div>
<div>
	<span style="font-size:14px;">Chief, Share Division, Citizen Investment Trust&nbsp;</span></div>
<div>
	&bull;The Mutual Fund is a good option from a profit-making perspective because it has fewer risks.</div>
<div>
	&bull;Interest on mutual funds is declining because of the government&rsquo;s policies regarding mutual funds. We had requested the government for exemption of income tax on at least Rs 50,000 of the total income of investors. But that could not be addressed in the budget, which has discouraged investors.</div>
<div>
	&bull;Because of less profit on mutual funds, people prefer direct personal investments instead.</div>
<div>
	&bull;The main problem of mutual fund is that most people lack knowledge about it. People who are aware are not interested in investing. That is why, despite the ability to invest, participation has not increased.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Shreejesh Ghimire CEO, NMB Capital" src="/userfiles/images/sg(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 188px;" />Shreejesh Ghimire</span></strong></div>
<div>
	<span style="font-size:14px;">CEO, NMB Capital&nbsp;</span></div>
<div>
	&bull;The demand of the mutual fund is very high in other countries but in the context of Nepal, demand is declining in spite of the progress the fund has made. This is the result of lack of awareness. The government made the policy but did not help further. The regulatory body SEBON, too, did not address the problem in time.</div>
<div>
	&bull;People are not aware of the benefits of investing on mutual funds. The main problem is market awareness which is very low. All stakeholders should work on raising awareness among people.</div>
<div>
	&bull;Lack of far sightedness in investors is another problem. Investors expect to double their amount invested in IPO. And if the company does not give result in four months, they believe it to be a bad company. As mutual funds&rsquo; plan is of five years, at least a year should be given before making any comments.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Dhruba Timalsina CEO, Siddhartha Mutual Fund" src="/userfiles/images/dt.jpg" style="
float: left; margin: 0px 10px 0px 0px;height: 186px; width: 150px;" />Dhruba Timalsina</span></strong></div>
<div>
	<span style="font-size:14px;">CEO, Siddhartha Mutual Fund</span></div>
<div>
	Rumours often create problems for mutual funds. &nbsp;For example, some vested interest people sometimes try to reduce share price of a certain company by creating a rumour.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The mutual fund is given priority while issuing new shares. The general public thinks that the fund manager will get undue profit from such arrangement. It is a big misconception. The profit and advantage of the fund is not for the fund manager but for investors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I have seen financial illiteracy among investors as another big problem. They look forward to share prices rather than the overall returns.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Central Depository System (CDS) has not been working fully. Tasks have not been performed yet in shares dematerialisation. &nbsp;Given that investors outside the valley do not have access to opportunities, it is necessary to make CDS work fully.</div>
<div>
	&nbsp;</div>
<div>
	It is also necessary to make it clear that mutual funds are different from market makers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Uddhab Shivakoti Share Investor" src="/userfiles/images/us.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 190px;" />Uddhab Shivakoti</span></strong></div>
<div>
	<span style="font-size:14px;">Share Investor</span></div>
<div>
	Mutual funds have failed to work as market makers. &nbsp;As they have failed to work as market makers, it shows that there is no difference between collective fund investors and mutual funds. &nbsp;When the market declined, mutual funds could have played a role to increase demand. Similarly, it can help in meeting demand if the market is booming. But such things have not happened.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	If we observe the portfolio of the mutual funds, we can find that the investment has not been&nbsp;</div>
<div>
	done sincerely.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-10-01',
			'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 third edition of Money Expo for the year 2013 will take place in the Capital from October 31 to November 2. Being the largest finance and investment show in Nepal, the expo will focus on the promotion of investment opportunities and wealth protection strategies.',
			'sortorder' => '1676',
			'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' => '1814',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (16-22 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Indian Foreign Secy calls on Prez Yadav, Chairman Regmi</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/ind(1).jpg" style="width: 500px; height: 213px;" /></div>
<div>
	&nbsp;</div>
<div>
	In her two-day visit to Nepal, India&rsquo;s Foreign Secretary Sujatha Singh called on President Dr Ram Baran Yadav and Interim Election Council Chairman Khil Raj Regmi separately last Sunday at the official presidential residence to discuss bilateral relations, expansion of mutual cooperation and the contemporary situation of Nepal.At the meeting with Chairman Regmi at Singhadurbar, Singh expressed her hope that the Constituent Assembly polls will be held on the scheduled date of November 19. &ldquo;The Government of India is ready to provide all kinds of assistance to that end,&rdquo; she reportedly said. Singh, who had arrived in Nepal last Saturday after being appointed as Foreign Secretary of the Government of India, also met with Nepali Congress president Sushil Koirala and CPN (UML) chairperson Jhalanath Khanal the same day. Senior officers at the Foreign Ministry, Indian Ambassador to Nepal Ranjit Rae and senior officers of the Indian Embassy were present in both meetings.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Europe Condemns Thursday Bandh&nbsp;</strong></span></div>
<div>
	The European Union (EU) and other countries have condemned the bandh enforced by the CPN-Maoist-led 33-party alliance last Thursday. Releasing a communiqu&eacute;, ambassadors of the European Union (Denmark, Finland, France, Germany, the UK and the EU Delegation), Norway and Switzerland deplored the bandha. Stating that a bandh undermine their joint development efforts and Nepal&rsquo;s investment, the ambassadors have asked all those who aspire to lead this nation to renounce the use of bandhs in the interest of the people. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Ready for Polls if Regmi Quits CJ Post: Gurung</strong></span></div>
<div>
	CPN-Maoist secretary Dev Gurung said they were ready to participate in the upcoming Constituent Assembly election process if the Chairman of the Interim Election Council, Khil Raj Regmi, quits the post of Chief Justice. Speaking at a programme in the capital last Thursday, Secretary Gurung claimed the current political crisis will end if Regmi tenders his resignation from the Chief Justice.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gorkha&rsquo;s Right Holders to Go to Fujel</strong></span></div>
<div>
	Human rights activists in Gorkha planned to assess the situation of Fujel VDC in a bid to rehabilitate Nanda Prashad Adhikari and Gangamaya Adhikari, who broke their hunger strike recently. The meeting of nine human rights organisations active in Gorkha held last Monday (September 9) decided to visit the Adhikari couple in Fujel VDC, ward no. 7, Chamati to assess the situation of the couple&rsquo;s rehabilitation. The couple last week had broken their indefinite hunger strike at Bir Hospital in Kathmandu following a three-point agreement with the government.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Singer Phatteman Passes Away</strong></span></div>
<div>
	<img alt="" src="/userfiles/images/sf.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 115px; height: 127px;" />Senior singer and musician Phatteman Rajbhandari passed away at the age of 77 last Tuesday while receiving treatment for lung cancer at Om Hospital, Chabahil in Kathmandu. An accomplished singer and musician, Phatteman has lent his voice to and composed music in more than 400 songs and devotional hymns. &nbsp;His last rites were performed at the Pashupati Aryaghat the same day as per Hindu rituals. Chairman of the Council of Ministers Khil Raj Regmi, political leaders, as well as a large number of people from different walks of life went to Pashupati to pay their last respects to the late singer. &nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 her two-day visit to Nepal, India’s Foreign Secretary Sujatha Singh called on President Dr Ram Baran Yadav and Interim Election Council Chairman Khil Raj Regmi separately last Sunday at the official presidential residence to discuss bilateral relations, expansion of mutual cooperation and the contemporary situation of Nepal.',
			'sortorder' => '1675',
			'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' => '1813',
			'article_category_id' => '142',
			'title' => 'Poll Update (16 - 22 September 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="Chief Election Officer Neel Kantha Uprety" src="/userfiles/images/1(3).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 106px;" />&ldquo;Finalise the number of CA seats&rdquo;</span></strong></div>
<div>
	Chief Election Officer Neel Kantha Uprety urged leaders of major parties to finalize the number of seats for the Constituent Assembly at the earliest. Speaking at a programme in the capital last Wednesday, he said that finalizing the number of seats would ease the election process for the Election Commission.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Surya Bahadur Thapa" src="/userfiles/images/2(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 111px;" />RPP Pushes for CPN-Maoist in Polls</strong></span></div>
<div>
	Election of the Constituent Assembly without the participation of the CPN-Maoist would render the process incomplete, said Rastriya Prajatantra Party (RPP) chairperson Surya Bahadur Thapa. Speaking at a press conference in Biratnagar last Thursday, Chairman Thapa advised the government and the major political parties to hold a decisive talk to bring the 33 party-alliance led by CPN-Maoist into the election process.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Kedarnath Upadhyay " src="/userfiles/images/3(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 114px;" />NHRC Ruling Against Children Use in CA Polls</strong></span></div>
<div>
	National Human Rights Commission Chairperson Kedarnath Upadhyay has urged political parties to not use children in the upcoming Constituent Assembly elections. Speaking at a function to sign an agreement with UNICEF on child rights promotion and advocacy project last Wednesday, Upadhyay said the NHRC will be more vigilant against using children.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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' => '',
			'sortorder' => '1674',
			'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' => '1812',
			'article_category_id' => '196',
			'title' => 'Weekly Roundup (9 - 15 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<ul>
	<li>
		The 12-point Birgunj Declaration that emerged from the Nepal Leadership Summit 2070 organised by New Business Age Pvt Ltd and Birgunj Chamber of Commerce and Industries on September 4 in Birgunj continues to draw the attention of the government, political parties and the business fraternity. Terming the declaration as a benchmark for setting government policies, Finance Minister Shankar Koirala said the consensus reached during the programme among former prime ministers to make the economy a common agenda would help the government create an investment- friendly environment in the country if implemented.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Despite CPN-Maoist&rsquo;s positive signal to join the poll process bringing a sigh of relief to the business community that has been reeling under political uncertainty, the bandh enforced by the party last Thursday caused significant loss in the economic sector. Factories were once again shut down, vehicles remained off the roads, businesses closed down and shops were shuttered.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		The debt-ridden Nepal Oil Corporation&rsquo;s decision to hike the price of petroleum products riled the student unions, airlines operators and the general public. The NOC decided to increase the price of petrol by Rs 5, kerosene by Rs 3 and aviation fuel by Rs 7 per litre. The NOC said it was compelled to hike the price following the price rise in the international market. The state-owned entity hiked the price for the second time after the formation of the Khil Raj Regmi-led government. The rise in price of petroleum products has once again initiated debates on automatic price fixation and the state&rsquo;s monopoly in the trading of petroleum products.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		The over-subscription for the reverse repo held by the Nepal Rastra Bank (NRB) indicates that the banking system is sitting on a huge cash deposits. Estimates put this at Rs 60 billion, and it is feared that it pose a high risk of liquidity-induced inflation during the forthcoming festive seasons. According to the NRB, it has received the bid from BFIs worth Rs 42 billion last week for the reverse repo issued by NRB worth Rs 10 billion. The NRB had issued the reverse repo in the previous week worth Rs 5 billion for the first time in three years and received a bid worth Rs 30 billion at that time. Lax credit demand, a rising flow of remittance and low investment from investors stalled in a wait-and-watch mood are the reasons behind the excess liquidity in the banking system.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Data shows that the domestic currency that has witnessed rapid devaluation in comparison to the US dollar in the last few weeks became slightly stronger last week. The Nepali Rupee was traded at Rs 101.71 per US dollar last Saturday, while it was traded at Rs 104.20 per US dollar on the same day of the previous week. As the Nepali currency against the US dollar rose slightly, the price of gold became relatively cheaper last week. &nbsp;The price of the precious yellow metal went down by Rs 3000 in a week trading at Rs 47,840 per 10 grams last Friday. The price on the same day of the previous week was Rs 50840 per 10 grams. Meanwhile, the government hiked the import duty of gold last Friday by 44 per cent. Duty price of the bullion has now reached Rs 5000 per 10 gram.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Data from the Department of Food Technology and Quality Control (DFTQC) revealed that adulteration in edible products has reached an average of 20 per cent, thanks to the government&rsquo;s apathy towards monitoring the market. Releasing the data, the Director General of the DFTQC rued the lack of strong laws to take stern action against adulterers. According to the department, adulteration ranging from 3 to 31 per cent of total content was found mostly in the bottled water, milk, oil and other consumable goods.</li>
</ul>',
			'published' => true,
			'created' => '2013-09-16',
			'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 12-point Birgunj Declaration that emerged from the Nepal Leadership Summit 2070 organised by New Business Age Pvt Ltd and Birgunj Chamber of Commerce and Industries on September 4 in Birgunj continues to draw the attention of the government, political parties and the business fraternity.',
			'sortorder' => '1673',
			'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' => '1811',
			'article_category_id' => '140',
			'title' => 'CPN-Maoist ‘Positive’ On Contesting CA Polls',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	In what appears to be a major shift from its previous intransigent stance to totally boycott the Constituent Assembly elections, the agitating CPN-Maoist party last week demonstrated flexibility to participate in the election process.</div>
<div>
	&nbsp;</div>
<div>
	CPN-Maoist, which had endorsed a strategy to disrupt the CA polls through its central committee meeting held in June 30 in Pokhara, expressed its commitment to join the election process if its demands, including the polls deferral for April, are met.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	During an all-party-meeting organized by President Dr Ram Baran Yadav at the Presidential Palace Shital Niwas last Friday, the poll-opposing party CPN-Maoist floated its four-point proposal as a way-out to the current political impasse.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The four-point proposal comprises convening a Round-Table-Conference (RTC) to make decisions on the basis of consensus, dissolution of the Khil Raj Regmi-led government to form all-party-government, or Regmi&rsquo;s resignation from the post of Chief Justice, and deferring CA polls for four months.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the parties representing the High Level Political Committee rejected outright the CPN-Maoist call for deferring polls, they have termed the proposal as positive and as an indication of the latter&rsquo;s willingness to come on board the election process.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	UCPN (Maoist) leader Narayan Kaji Shrestha informed the media that the CPN-Maoist chairperson Mohan Baidya requested President Yadav and leaders of other parties to not cast any doubt over his party&rsquo;s intentions to contest in the CA polls. &ldquo;We are ready to join the poll process,&rdquo; Shrestha quoted Baidya as saying.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Emerging from the meeting, coordinator of the HLPC and president of the Nepali Congress Sushil Koirala told the media: &ldquo;Discussions are heading towards a positive direction, but the election cannot be postponed to April as demanded by the CPN-Maoist.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Echoing the views of HLPC coordinator Koirala, CPN (UML) Chairman Jhalnath Khanal said, &ldquo;Among four, only two proposals of the CPN-Maoist are positive.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	CPN-Maoist Secretary Dev Gurung said that other parties have taken positively to the proposal floated by his party.</div>
<div>
	&nbsp;</div>
<div>
	The all-party-meeting has resumed again at the Presidential Palace Shital Niwas when this paper went to print on Sunday (September 15) regarding the four-point proposal of the CPN-Maoist.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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 major shift from its previous intransigent stance to totally boycott the Constituent Assembly elections, the agitating CPN-Maoist party last week demonstrated flexibility to participate in the election process.',
			'sortorder' => '1672',
			'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' => '1810',
			'article_category_id' => '139',
			'title' => 'Nepal And The World Brief (16 - 22 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Obama to Nominate Summers as Fed Chief&nbsp;</strong></span></div>
<div>
	US &nbsp;President Barack Obama will name former Treasury Secretary Lawrence &ldquo;Larry&rdquo; Summers as chairman of the Federal Reserve Board,Japan&rsquo;s Nikkei newspaper said on Friday. The newspaper, quoting unnamed sources, said that Obama was &ldquo;in the final stages&rdquo; and moving toward naming Summers. Debate in Washington has focused on whether Obama will pick Summers or Fed Vice Chair Janet Yellen to succeed Ben Bernanke, whose term as head of the U.S. central bank expires in January.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Growth in G-20 Countries Accelerates</strong></span></div>
<div>
	Growth in the Group of 20 emerging and advanced economies accelerated in the second quarter of this year to 0.9 percent from 0.6 percent in the previous three month period, the OECD said last Thursday. Most G20 members saw growth pick up momentum in April through May, with Turkey posting the highest quarter-on-quarter expansion of 2.1 percent, said the Organisation for Economic Cooperation and Development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>China&rsquo;s New Richest Man Worth $22 bn</strong></span></div>
<div>
	China&rsquo;s new richest man -- real estate and hotel king Wang Jianlin -- is now worth $22 billion, up from $10.3 billion in 2012, according to the latest Wealth Report from the Hurun Research Institute and marketing firm GroupM Knowledge. Wang easily ousted China&rsquo;s former No. 1, Zong Qinghou, who is now No. 2 with a net worth of $18.7 billion.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Plan for EU Financial Tax Found to be Illegal</strong></span></div>
<div>
	Legal advisers have cautioned 11 EU Governments that a proposal they are considering for a tax on financial transactions is illegal. The legal service that advises EU member states found that the suggested approach on which companies should be taxed is &ldquo;discriminatory,&rdquo; will probably distort competition, violates EU law and &ldquo;exceeds member states&rsquo; jurisdiction for taxation,&rdquo; according to a copy of the opinion published last week.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australian Unemployment Highest in 4 Years</strong></span></div>
<div>
	&nbsp;Australia&rsquo;s jobless rate edged up to 5.8 percent in August, a level not seen since the global financial crisis, with the sluggish economy shedding 10,800 jobs as the mining investment boom unwinds. &nbsp;The Australian Bureau of Statistics said the seasonally adjusted rate -- up from 5.7 percent in July -- the highest since August 2009.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => '',
			'sortorder' => '1671',
			'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' => '1809',
			'article_category_id' => '161',
			'title' => '‘Radio Easily Delivers Information About Development, Diversity And Democracy’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><img alt="Upendra Aryal " src="/userfiles/images/idp.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 221px;" />Equal Access Nepal, the Nepal wing of the Equal Access International, has been working on a wide range of developmental issues and themed radio programmes &mdash; aiming for a social change since 2004. Equal Access Nepal&rsquo;s Acting Executive Director Upendra Aryal spoke to Sanjeev Sharma of The Corporate about the organisation&rsquo;s initiatives. <strong>Excerpts :</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of Equal Access in Nepal?</strong></span></div>
<div>
	We are currently working in media development and behaviour change communication. &nbsp;We have been trying to reach out to the audience of different classes, ages, and communities through radio. I feel that radio is the most effective medium because of its easy accessibility and the broadcast could reach the remotest parts of the country. We have been working in various sectors such as family health care, maternal health, child care, family planning, Early Grade Reading (EGR), Early Childhood Development (ECD), primary education, community empowerment, youth and teenage problems etc. We are also focused on the political issues through our radio programmes.</div>
<div>
	&nbsp;</div>
<div>
	Nepal is witnessing a remarkable growth in the radio broadcast sector. The liberal media policies endorsed by the government (after the democratic change) have helped the broadcast sector to flourish in this country. However, there are some issues concerning the quality of the radio programmes. A successful radio presentation is combined with the good quality of mixing, scripting, innovative formatting and various other aspects of post-production.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the core working areas of Equal Access in Nepal?</strong></span></div>
<div>
	We are working in health, education, political, constitutional segment and youth-oriented programmes. The programmes are focused on media education, gender issues, constitution drafting process, good governance etc. One can listen to such content in the widely listened radio programme known as &ldquo;Naya Nepal&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, Mamata (maternal health), Deshpardesh (cross border content, which include health issues), &lsquo;Saathi Sanga Maan Ka Kura&rsquo; (sharing thoughts with friends) are our popular radio programmes focused on various health and peer pressure issues. Likewise, &lsquo;Samajdari&rsquo;, a series on spouse communication and &lsquo;Kaam ka Kura&rsquo; (based youth employment issues) are also widely listened. Equal access&rsquo;s contents are taken as meaningful and useful. Through these programmes, we are reaching nearly to 12.5 million listeners across the country.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How can we utilize radio as means of development?</strong></span></div>
<div>
	Radio has evolved as one of the most effective means of development. We are using radio as a tool to facilitate the dialogue and conversation about sustainable development. On an average, the Nepali radio stations are broadcasting for 18 hours a day reaching across all the corners of country. This shows that the radio penetration can be of great help to deliver the messages quickly. Radio broadcast is also interlinked with issues in various cultural or linguistic diversities and democracy. We can take radio as a &lsquo;3D&rsquo; medium because it helps to deliver messages and information about issues related to development, diversity and democracy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of radio in promoting micro-entrepreneurship?</strong></span></div>
<div>
	Micro-entrepreneurship is so far concerned with the income generation, village banking, micro-credit and ultimately the economic empowerment of underprivileged people. Radio stations across the country are broadcasting various programmes on micro-financing and livelihood solutions. However, radio can&rsquo;t be taken as an effective medium for income generation training purposes. For example, a website can better explain farmers about the farming techniques with illustrations and pictures which radio is unable to explain. But we can integrate the radio programmes and suggest the farmers about the links to such websites.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Equal Access Nepal has been emphasizing the use of technology to deliver information to the general public?&nbsp;</strong></span></div>
<div>
	Information technology has helped us a lot. For instance, different communities can share their messages through our websites. It can encourage citizen journalism as well. We operate some blog sites such as www.meroreport.net and www.mediamanch.net to facilitate citizen journalism across the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, we also offer free SMS service which is integrated to the above mentioned websites. The websites include interactive voice recording system that enables to convert recorded voice into text format. This is providing interactive platform to share messages where others can also give opinions on various issues.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of Nepali media in terms of economic and social development of the country?</strong></span></div>
<div>
	Nepali media sector is vibrant. Though they mostly cover political issues but economic, social and environmental affairs are also given ample space in the newspapers, television, radios and websites. Nepal media are disseminating information of nearly all the sectors. We can take examples of some successful publications. In my opinion the &lsquo;Shikshyak&rsquo; magazine is a very good example which is providing valuable information on education and development. Though we still lack thoughtful journalism, Nepali media sector has been its role positively in socio-economic development of the country.&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Equal Access Nepal, the Nepal wing of the Equal Access International, has been working on a wide range of developmental issues and themed radio programmes — aiming for a social change since 2004.',
			'sortorder' => '1670',
			'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' => '1808',
			'article_category_id' => '137',
			'title' => 'China Becomes World’s Third Largest Investor After US, Japan',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China has emerged as the world&rsquo;s third largest investor as Foreign Direct Investment (FDI) from the giant jumped by 17.6 percent last year defying a global pattern. China&rsquo;s outbound FDI rose 17.6 percent year-on-year in 2012 to a record high of USD 87.8 billion, according to the 2012 Statistical Bulletin of China&rsquo;s Outward Foreign Direct Investment (ODI) by the Ministry of Commerce. Even as global ODI slid 17 percent last year amid uncertainties facing the world economy, China is now world&rsquo;s third-largest investor, following the United States and Japan, for the first time since the country began to release the data a decade ago.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China currently holds about USD 3.30 trillion foreign exchange reserves. About USD 1.20 trillion is invested in US bonds. China was world&rsquo;s sixth-largest investor in 2011, with an ODI flow of USD 74.65 billion. Last year&rsquo;s increase represented an acceleration from 8.5 per cent in 2011, when the global economic recovery was weak in the face of continuing financial turmoil in Europe and the United States. &ldquo;The Chinese government introduced measures to encourage outbound direct investment in pursuit of the &lsquo;going abroad&rsquo; strategy, and the country&rsquo;s outward FDI maintained robust growth in recent years,&rdquo; &nbsp;said Zhou Zhencheng, commercial counselor of the department of outward investment and economic cooperation of the Ministry of Commerce. Huo Jianguo, president of the Chinese Academy of International Trade and Economic Cooperation, was quoted by the state-run China Daily as saying that the surge in ODI was mainly driven by domestic enterprises eager to tap overseas markets and profit from using global resources. &ldquo;Debt crises and slowing growth in developed economies opened up great opportunities for Chinese enterprises to invest abroad, and the renminbi&rsquo;s appreciation helped the process,&rdquo; Huo said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China&rsquo;s non-financial ODI went up 13.3 per cent last year to USD 77.73 billion, accounting for 88.5 per cent of the total. Financial ODI surged 65.9 per cent to USD 10.07 billion, the bulletin said. Investment in US jumped 123.5 per cent to USD 4.05 billion, making it the second-largest destination for China&rsquo;s ODI, the report said. Total ODI to developed economies was around USD 13.51 billion. Chinese investors have established about 22,000 overseas enterprises in 179 countries and regions, &ldquo;and about 79.2 per cent of them made profits or maintained a balance&rdquo;, Zhou said. He warned that Chinese enterprises are facing rising risks and challenges, including political unrest in Africa and Southeast Asia. Other challenges include increasing competition from developed economies and restrictions in those markets.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<span style="font-size:14px;"><strong>Chinese Investment in Nepal Rising</strong></span></p>
</div>
<div>
	The northern neighbour has been gradually increasing its investments in Nepal. According to Nepal government&rsquo;s latest data, in the fiscal year 2012/13, China committed highest foreign direct investment (FDI) in Nepal surpassing India. In the last FY China alone accounted for 30.89 percent of the total amount of the FDI commitment in Nepal. The data showed that Nepal has received Rs 19.39 billion worth of Chinese FDI against Rs 11.49 billion in the previous FY. In FY 2011/12, China stood second in terms of investments in the country after India.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the last FY, investors from mainland China and Hong Kong registered 96 and four investment projects respectively. The investment projects mainly include medium and small businesses such as hotels, restaurants, travel agencies, handicrafts, fisheries and agricultural industries. However, Chinese investors are also pouring their investments in big infrastructure projects of Nepal. Sinohydro Resources Ltd, a Chinese multinational giant has invested in the 50 megawatts Upper Marsyangdi &lsquo;A&rsquo; hydropower project, which is under construction. Similarly, Sinohydro and other Chinese contractors are also developing major Nepali hydel projects such as the 456 MW Upper Tamakoshi, 30 MW Chamelia, 14 MW Kulekhani-3.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-23',
			'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' => 'China has emerged as the world’s third largest investor as Foreign Direct Investment (FDI) from the giant jumped by 17.6 percent last year defying a global pattern.',
			'sortorder' => '1669',
			'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' => '1807',
			'article_category_id' => '135',
			'title' => '‘Nepal Should Wait And Watch’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">The pinch of continued depreciation of the nepali rupee is hurting nepali economy. This has renewed the debate &nbsp;on nepal&rsquo;s currency policy: &nbsp;whether to leave the Nepali currency pegged on the Indian Rupee, or to just devalue it to reflect the current realities asNepal imports most of the daily necessites and industria raw material and the exportable surplus is very low.The Corporate Weekly this week spoke to economists to gather their views on the debate. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Prof Dr Navaraj Kandel" src="/userfiles/images/nd.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 146px;" />Prof Dr Navaraj Kandel</span></strong></div>
<div>
	<span style="font-size:14px;">Central Department of Economics, Tribhuvan University</span></div>
<div>
	The most prominent impact of the increasing value of the US dollar against the Rupee would be a sharp rise in the price of imported goods. The tendency of businessmen in countries like Nepal is to increase the prices when the value of dollar rises but to make very small reduction in prices when the dollar devaluates. This leaves the consumer victimized. Therefore, it is better to leave our currency pegged as we import most products from India and this pegged policy gives us a very stable market.</div>
<div>
	&nbsp; &nbsp;&nbsp;</div>
<div>
	<span style="font-size:14px;"><img alt="Prithvi Raj Ligal" src="/userfiles/images/prl.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 141px;" /><strong>Prithvi Raj Ligal</strong></span></div>
<div>
	<span style="font-size:14px;">Former Vice-Chairman, National planning commission</span></div>
<div>
	Nepal has deeply rooted economic relations with India and has pegged its currency with India&rsquo;s so that there is stability in the currency. The peg to maintain smooth trade and commercial relations with the world at large. Despite many informal trade relations with India, our market remains stable thanks to the peg. However, according to the IMF, in comparison to the Indian currency in the past 3-4 years, the Nepali Rupee has devaluated by 15 per cent. Therefore, these policies have to be evaluated by comparing both countries&rsquo; currency values. However, the consistent devaluation of the Indian Rupee is definitely making market prices unstable, as businessmen have &nbsp;started setting prices of the imported goods according to their own forecasts of currency values in the immediate future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Deependra Bahadur Kshetry" src="/userfiles/images/dbk.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 151px;" />Deependra Bahadur Kshetry</span></strong></div>
<div>
	<span style="font-size:14px;">Former governor, Nepal Rastra Ban</span>k</div>
<div>
	It should not be debated whether the currency has to be pegged or not. The debate, rather, should be about how to avoid such devaluation. Since Nepal Rastra Bank has already made it clear that it will not remove the peg, and since our economy is very fragile at this point, the country might face a great inflation if we remove the peg abruptly. The Indian economy has been working a lot to unwind this devaluation, therefore we will have to wait and watch till there is certain level of stability in the Indian Rupee. We should also try and increase our foreign currency reserve. If that is not possible we should try to maintain it at the current level.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 pinch of continued depreciation of the nepali rupee is hurting nepali economy. This has renewed the debate  on nepal’s currency policy:  whether to leave the Nepali currency pegged on the Indian Rupee,',
			'sortorder' => '1668',
			'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' => '1806',
			'article_category_id' => '134',
			'title' => '‘Nepal Needs Urgent Reforms, Not Tourism Year Gimmick’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="Raja Ram Giri," src="/userfiles/images/iv.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 221px;" />Raja Ram Giri</strong>, an NRN based in London, is Director of Samsara Nepal Financial Services Ltd, the first money transfer company in the UK to be owned by a Nepali. He is also the Managing Editor and Publisher of Himalayas magazine, an annual publication that promotes Nepali tourism in the UK and Europe. Giri spoke to Britant Khanal of The Corporate Weekly about the performance of his businesses in the UK.<strong> Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the concept behind launching a magazine like Himalayas in the UK? Who are its readers and what has been the response thus far? &nbsp;&nbsp;</strong></div>
<div>
	This magazine was not the reason why I went to UK. Initially, I wanted to study Information Technology. I was studying at a university where there were no students from our side of the world which made me feel very alien. One day a professor told me that he had been to my country. But when he described what he saw, I realized he was talking about Darjeeling, not Nepal. That was when I quit IT and shifted to Tourism Studies and planned to do something that would make the world recognize my country. So, this magazine was an outcome of my ego and pride. It has been doing a decent job in making our country known in London and many parts of Europe. &nbsp; &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What has your role been so far in promoting Nepali Tourism to the rest of the world?</strong></div>
<div>
	When I started studying tourism, Nepal was celebrating the Visit Nepal Year 1998. &nbsp;Since the country was celebrating a national festival, I thought of doing something along the same lines, and then contacted the Nepali embassy in the UK. With their help, I held a small cultural programme at my college in front of almost 1,300 students explaining what Nepal is and what it looks like. The programme was very much appreciated. Since then, I have been doing the same job trying to tell people how beautiful my country is and taking pride in it. &nbsp; &nbsp; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are some tangible hindrances seen in promoting Nepali tourism to the rest of the world?</strong></div>
<div>
	What our politicians have to understand is that declaring a tourism year will not bring tourists. They will have to work on tourism policies to attract tourists instead of showering flowers from helicopters on the day of declaration and spending millions on inaugurals. They will have to explain to tourists what Nepal looks like and what our culture is. They could have come with cultural programmes in famous places of different cities like the Trafalgar Square, London or may be some place in New York, too. Another basic obstruction is transportation - the Government of Nepal has not been able to provide sufficient number of flights of the Nepali airlines to and from tourist originating areas.</div>
<div>
	&nbsp;</div>
<div>
	<strong>You are also associated with the Kathmandu-Kulekhani-Hetauda Tunnel Road. Could you tell us a little about that?</strong></div>
<div>
	We have been working on the Kathmandu-Kulekhani-Hetauda tunnel road and it is one of the first private sector initiatives in structural design and work. This project seems very promising for transportation. It will assist in the smooth functioning of business and economy. This project also hopes to bring a lot of investments from Samsara UK and a lot from non-resident Nepalis living in UK. There are reasons why these kinds of project are not pacing up in our country. For one, we are still using the traditional way of construction. We still see workers using hammers on the road whereas technology around the globe has taken a leap ahead. Therefore, we are working hand-in-hand with other domestic companies to bring required changes in infrastructure to speed up the pace of work.</div>
<div>
	&nbsp;</div>
<div>
	<strong>You own a company called &lsquo;Samsara Nepal&rsquo; in the UK. What is the function of this company and what are your future plans for Nepal?</strong></div>
<div>
	Samsara Nepal is basically a company for remittance. This company too was an outcome of an incident. I was working in some other company back then in the UK and had sent some money back home which unfortunately went to Mumbai because the company I sent the money through thought Kathmandu was in India, and had written KTM India in the address. The money went to an Indian branch which was in Mumbai. Later, I filed a complaint and resent the money.</div>
<div>
	&nbsp;</div>
<div>
	Sixteen years back, when I first went to the UK, there were no proper and reliable remittance companies to send money through. There was an informal money sending mechanism popularly known as the Hundi system of which the government has no record of. Therefore, we came up with an idea of setting up a company which would provide a safe way to send money back home. We have now been working with Sunrise Bank, Himalayan Bank and Standard Chartered Bank in sending hard earned remittances back home. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Besides sending money from London to Nepal, this company also wants to promote our national economy. Samasara Nepal wants to suggest the government to impose a certain level of taxes on the remittance which immigrants could use after returning back to the country. This would benefit the individual and the nation overall, because while an amount approximately equal to 27 per cent of Nepal&rsquo;s GDP comes in as remittance, it has not been invested in a productive sector as far as I know. The government should focus on capitalizing on remittance by investing it in productive sectors.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Raja Ram Giri, an NRN based in London, is Director of Samsara Nepal Financial Services Ltd, the first money transfer company in the UK to be owned by a Nepali. He is also the Managing Editor and Publisher of Himalayas magazine, an annual publication that promotes Nepali tourism in the UK and Europe. Giri spoke to Britant Khanal of The Corporate Weekly about the performance of his businesses in the UK.',
			'sortorder' => '1667',
			'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' => '1805',
			'article_category_id' => '122',
			'title' => 'Golyan Group: Looking Beyond Textiles',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	New Model of CSR: Social Enterprise</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Pawan Golyan, Chairman of Golyan Group is dedicated to Corporate Social Responsibility (CSR) and treats his CSR projects as invaluable business ventures. He has adopted two villages in Kailali district and is working for enhancing the livelihood of local people by providing opportunities for sustainable source of income. These two villages have around 340 households with a total population of nearly 1500 people.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Nauniya, a village Golyan adopted has a majority of settlements of mukta kamaiya (freed bonded labours). &nbsp;Each household owns a small piece of land provided by the government and a house to live in, built by a donor agency. Golyan says that the male members of the community have been making their living by migrating to India after completing rice cultivation while women are mostly unemployed.&nbsp;</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Golyan helped install boring pumps for irrigation in the village. Similarly, he also established a training school targeting young women to train them in sewing and knitting. He says the first batch has completed the course and soon will find jobs within the locality. Golyan has also set up a tapari (plate made of leaves) factory. He has not only made investments but has also been managing the manufacturing unit. So far, the company has installed five machines for producing taparis and plans to increase to 30 machines. &ldquo;Then the factory can employ around 1000 people,&rdquo; says Golyan.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	He explains that out of the total profit made through this venture, 20 per cent goes for development work while the rest is used in replicating similar projects in other villages. &ldquo;I am doing all this to make the project sustainable so that it can continue even if am not there to look after them,&rdquo;&nbsp;</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Golyan says.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Around five kilometres north from Nauniya, Golyan has adopted another village with same socio economic situation like Nauniya. &nbsp;People have not been involved in income generating activities despite having land to make decent earnings. Golyan went there and requested locals to come up with a list of activities they could be involved in and assured them financial assistance. The group installed boring pumps in the village for irrigation after which the locals started vegetable farming after harvesting paddy.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	The group has also started a buffalo farming project. For this project, Rs 1.2 million was collected from 12 farmers while the company invested Rs 2 million, which was borrowed as soft loan. Then 26 buffaloes were brought from Haryana, India. &nbsp;To assist the farmers, the group has trained and employed a vet while one person is hired to monitor farmers&rsquo; activities to ensure they utilise the earnings in paying back the loan and for purchasing feed for the buffaloes. Golyan wants to develop this project as an example so that it can be replicated in other villages and be a model for fellow businessmen.&nbsp;</div>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<strong>--By Gaurav Aryal</strong></p>
<table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;">
	<tbody>
		<tr>
			<td>
				<img alt="Pawan Golyan, Chairman, Golyan Group" src="/userfiles/images/pg%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 220px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div>
						<strong>Pawan Golyan</strong></div>
					<div>
						Chairman, Golyan Group</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group, known to have a strong foothold in the textile industry, is planning to venture into the tourism industry of late. As a first venture into the new sector, a three star hotel is under construction at Baneshwor Height of Kathmandu. Pawan Golyan, Chairman of the group, says that the hotel will start its services within the next two years.&nbsp;</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	According to Golyan, the hotel&rsquo;s prime clients will be transit tourists as it will be located close to the Tribhuvan International Airport and Pashupatinath Temple, a popular Hindu shrine. The hotel will have 115 rooms. Golyan reveals that the company will tie up with an international hotel chain once the construction is completed.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The group plans to develop tourism as one of its core sectors. Golyan says that the hotel is being developed as a trial project before leaping into the industry. If things go as planned, the group plans to establish two and three star hotels in industrial hubs such as Biratnagar, Birgunj and Pokhara. &ldquo;We do not just dive into any business sector. We first try it to understand the scene before we move forward,&rdquo; he explains.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<strong><span style="font-size:14px;">Weaving the Industrial Base</span></strong></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group was founded by Sohan L Golyan, father of Pawan Golyan around five and a half decades ago with trading. The first manufacturing venture he established was a button factory, after which textile factories followed. In the course of the group&rsquo;s evolution, it involved itself in manufacturing a wide range of products such as slippers, zippers, audio cassettes among others, but they closed it down later. The textile and fabric based companies, however, lived on.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	When business was passed on to the second generation, Pawan Golyan started Reliance Spinning Mills Limited, one of the signature companies of the group. He says that this company registers an annual turnover of roughly Rs 5 billion and employs 3500 labours and 300 executives. Golyan claims that this is one of the largest industries in Nepal in terms of labour size and capital base. The group has invested around Rs 4 billion in this spinning mill alone.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<span style="font-size:14px;"><strong>Textile&rsquo;s Strength</strong></span></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Though the group went on exploring, it also started experimenting with various other sectors, textile manufacturing continued by extending product line from acrylic yarn to pashmina and packing sacks. Golyan says that the group at one point tried steel manufacturing but did not succeed as much as textiles. &nbsp;The group now considers textiles as its specialised sector, whether it is pashmina, cashmere sweaters, yarns or woven sacks.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The group now has five companies specialised in the textiles industry. Reliance Spinning, a state of the art spinning mill, manufactures spun yarns mainly in acrylic, polyester, viscose and blends. The products of this company are mostly exported to India. According to Golyan, 70 per cent of the products are exported to India, 20 to 25 per cent is sold in the domestic market, and the rest are exported to other countries. The company is now working towards producing cotton yarns to meet all domestic requirements.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Similarly, 95 per cent of cashmere and pashmina products produced by two companies - Tricot Industries and Himali Pashmina - are exported to the European, Australian and the US markets. The export surplus is sold in the domestic market through a showroom at Durbarmarg, Kathmandu. Tricot Industries was upgraded to a fully automated system around one and a half year ago.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Products such as circular knitted fabrics and woven sacks produced by Shivam, a third company, have their majority markets beyond Nepal - mostly in India, Bangladesh and Turkey. According to Golyan, around 80 per cent of Shivam Plastic&rsquo;s products are exported to India while remaining 20 per cent is sold in other countries including Nepal.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<span style="font-size:14px;"><strong>Expanding Business</strong></span></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group refrains from expanding the production capacity of its manufacturing units because of power shortage. &ldquo;If we had 24 hour power supply, we could double the production capacity of Reliance Spinning Mills and create jobs for 4000 people. But most of our factories are operating at 30 to 60 per cent of the installed capacity,&rdquo; he explains.&nbsp;</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Besides this, the group is determined to revive its interest in hydropower business. It had dropped five projects with a total capacity of 20 MW after procedural delays and obstruction from local bodies. Golyan says that the group will start researching other possible projects in the next three months.</p>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; text-align: center;">
						<strong><span style="font-size:16px;">New Model of CSR: Social Enterprise</span></strong></p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Pawan Golyan, Chairman of Golyan Group is dedicated to Corporate Social Responsibility (CSR) and treats his CSR projects as invaluable business ventures. He has adopted two villages in Kailali district and is working for enhancing the livelihood of local people by providing opportunities for sustainable source of income. These two villages have around 340 households with a total population of nearly 1500 people.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Nauniya, a village Golyan adopted has a majority of settlements of mukta kamaiya (freed bonded labours). &nbsp;Each household owns a small piece of land provided by the government and a house to live in, built by a donor agency. Golyan says that the male members of the community have been making their living by migrating to India after completing rice cultivation while women are mostly unemployed.&nbsp;</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Golyan helped install boring pumps for irrigation in the village. Similarly, he also established a training school targeting young women to train them in sewing and knitting. He says the first batch has completed the course and soon will find jobs within the locality. Golyan has also set up a tapari (plate made of leaves) factory. He has not only made investments but has also been managing the manufacturing unit. So far, the company has installed five machines for producing taparis and plans to increase to 30 machines. &ldquo;Then the factory can employ around 1000 people,&rdquo; says Golyan.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						He explains that out of the total profit made through this venture, 20 per cent goes for development work while the rest is used in replicating similar projects in other villages. &ldquo;I am doing all this to make the project sustainable so that it can continue even if am not there to look after them,&rdquo; Golyan says.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Around five kilometres north from Nauniya, Golyan has adopted another village with same socio economic situation like Nauniya. &nbsp;People have not been involved in income generating activities despite having land to make decent earnings. Golyan went there and requested locals to come up with a list of activities they could be involved in and assured them financial assistance. The group installed boring pumps in the village for irrigation after which the locals started vegetable farming after harvesting paddy.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						The group has also started a buffalo farming project. For this project, Rs 1.2 million was collected from 12 farmers while the company invested Rs 2 million, which was borrowed as soft loan. Then 26 buffaloes were brought from Haryana, India. &nbsp;To assist the farmers, the group has trained and employed a vet while one person is hired to monitor farmers&rsquo; activities to ensure they utilise the earnings in paying back the loan and for purchasing feed for the buffaloes. Golyan wants to develop this project as an example so that it can be replicated in other villages and be a model for fellow businessmen.</p>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Some Companies under Golyan Group</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Textile Manufacturing</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Reliance Spinning Mill</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Shivam Plastic Industries</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Tricot Industries&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					(Formally Makalu Cashmere)</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Himali Pashmina</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Financial Services</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>NIC Asia Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>NMB Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Nepal Life Insurance Company Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Lumbini Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Prudential Insurance Company Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					International Trade</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Atlanta Trading Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Westar Galaxy Trading Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Real Estate</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Westar Properties Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>City Properties</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Management&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					The group employs around 7000 staff. Pawan Golyan says that none of the companies have faced labour strikes and operation has not halted even for a minute. Cordial relationship maintained with workers has prevented disputes and also helped make employees a part of the Golyan family. Fair dealing and fair treatment to employees is the principle of the group when it comes to human resource management, according to Golyan. He says that the major problem is labour shortage rather than other functional wrangling. &nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Hi-life on Westar Properties</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Westar Properties Pvt Ltd, a subsidiary of the group, founded in 2008 has been developing apartment properties with technical collaboration with Westar Properties, Dubai. According to Golyan, 212 apartments are almost ready to be handed over to their buyers. &ldquo;We have delivered better quality than what we promised. There are no other projects in my knowledge that match the quality, facilities and price of this project, even in India,&rdquo;&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					he claims.</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					The group is planning to develop another high-end residential high-rise apartment at Soaltee Mode with premium facilities. According to Golyan, this new property will have state-of-the-art facilities including a gym, cinema hall, squash court, badminton and tennis courts, a jogging track and oxygen room among others. &nbsp;Golyan promises to complete this project by the first quarter of 2015.</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; text-align: center;">
					<strong><span style="font-size:16px;">Some Companies under Golyan Group</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Textile Manufacturing</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Reliance Spinning Mill</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Shivam Plastic Industries</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Tricot Industries&nbsp;</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					(Formally Makalu Cashmere)</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Himali Pashmina</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Financial Services</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;NIC Asia Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;NMB Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Nepal Life Insurance Company Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Lumbini Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Prudential Insurance Company Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">International Trade</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Atlanta Trading Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Westar Galaxy Trading Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Real Estate</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;<span class="Apple-tab-span" mce_style="white-space:pre" style="white-space: pre;"> </span>Westar Properties Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;<span class="Apple-tab-span" mce_style="white-space:pre" style="white-space: pre;"> </span>City Properties</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Management&nbsp;</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					The group employs around 7000 staff. Pawan Golyan says that none of the companies have faced labour strikes and operation has not halted even for a minute. Cordial relationship maintained with workers has prevented disputes and also helped make employees a part of the Golyan family. Fair dealing and fair treatment to employees is the principle of the group when it comes to human resource management, according to Golyan. He says that the major problem is labour shortage rather than other functional wrangling. &nbsp;</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<span style="font-size: 14px;"><strong>Hi-life on Westar Properties</strong></span></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					Westar Properties Pvt Ltd, a subsidiary of the group, founded in 2008 has been developing apartment properties with technical collaboration with Westar Properties, Dubai. According to Golyan, 212 apartments are almost ready to be handed over to their buyers. &ldquo;We have delivered better quality than what we promised. There are no other projects in my knowledge that match the quality, facilities and price of this project, even in India,&rdquo; he claims.</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					The group is planning to develop another high-end residential high-rise apartment at Soaltee Mode with premium facilities. According to Golyan, this new property will have state-of-the-art facilities including a gym, cinema hall, squash court, badminton and tennis courts, a jogging track and oxygen room among others. &nbsp;Golyan promises to complete this project by the first quarter of 2015.</p>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 Golyan Group, known to have a strong foothold in the textile industry, is planning to venture into the tourism industry of late. As a first venture into the new sector, a three star hotel is under construction at Baneshwor Height of Kathmandu. Pawan Golyan, Chairman of the group, says that the hotel will start its services within the next two years.',
			'sortorder' => '1666',
			'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
simplexml_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' => '1819',
			'article_category_id' => '146',
			'title' => 'Visual Edit Vol 3 Issue 31',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Visual Edit',
			'sortorder' => '1680',
			'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' => '1818',
			'article_category_id' => '147',
			'title' => 'Nepal Leadership Summit 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepal Leadership Summit (Roadmap of Economic Revolution: Vision 2080 BS) is an appreciable step taken. It is indeed good initiation that politicians signed a 12-point declaration. But this only is not enough. Politicians should stick to their commitment and the agreement should be turned into action. I would like to congratulate and thank Birgunj Chamber of Commerce and Industries (BiCCI) and New Business Age Group for the historical endeavour. Country now has to head towards economic revolution leaving political confrontations aside. Hope the event will have a positive impact on country&rsquo;s economy. And hope it will help in the discourse of making Birgunj a major industrial hub of the country.</div>
<div>
	<strong>- Sharmila Dulal</strong></div>
<div>
	<em>Madan Bhandari Memorial College</em></div>',
			'published' => true,
			'created' => '2013-09-16',
			'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 Leadership Summit (Roadmap of Economic Revolution: Vision 2080 BS) is an appreciable step taken.',
			'sortorder' => '1679',
			'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' => '1817',
			'article_category_id' => '105',
			'title' => 'Cancel The Order',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	A restaurant from Thamel sent an order to a distributor of liquor for a large amount of goods totaling a great deal of money.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The distributor noticed that the previous bill hadn&rsquo;t been paid. The collections manager sent an email saying, &ldquo;We can&rsquo;t deliver your new order until you pay for the last one.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The next day the collections manager received a reply, &ldquo;Please cancel the order. We can&rsquo;t wait that long. &rdquo; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>-ML</strong></div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'A restaurant from Thamel sent an order to a distributor of liquor for a large amount of goods totaling a great deal of money.',
			'sortorder' => '1678',
			'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' => '1816',
			'article_category_id' => '144',
			'title' => 'End Strike To Stimulate Economy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	No-brainer that the Nepali industries, and the entire economy, bear a daily monetary loss in billions due to bandh. Nepal&rsquo;s economy, which has been suffering due to lack of security, higher interest rates, and irregular power supply and liquidity crunch, will ultimately collapse if such general strikes are frequent.</div>
<div>
	&nbsp;</div>
<div>
	The general public and the entrepreneurs feel disappointed over the major political parties who have failed to resolve the conflict through mutual talks. Unfortunately, there is no respite at sight. With the approaching Constituent Assembly election in Nepal, it is for sure that disgruntled parties will call frequent strikes to exert pressure on the government to fulfill their demands.</div>
<div>
	&nbsp;</div>
<div>
	For instance, the country witnessed two general strikes last week clearly hinting that the business fraternity will suffer more if there is not political consensus against bandh. Though there are laws that empower the local authorities to punish those who go for organised bandhs, the authorities concerned are not invoking these laws, as most of the bandhs are called for political reasons.</div>
<div>
	&nbsp;</div>
<div>
	Almost all walks of life are victimized by general strikes. Besides, business community, the daily wage earners and small scale entrepreneurs are the major victims of such strikes. The market witnesses price hike to more than triple due to short supply of vegetables, and food grains.</div>
<div>
	&nbsp;</div>
<div>
	It undermines confidence in the country&rsquo;s economy, and if we undermine confidence, we are destabilising investment. It is hitting our economy and yet this has not deterred the organizations or groups of people seeking &lsquo;justice&rsquo; from going ahead with bandh or blockade.</div>
<div>
	&nbsp;</div>
<div>
	In a democratic country, every citizen may have the rights to protest against injustices meted out to them. But at the same time it should be recognized that &lsquo;forced bandh&rsquo; violates human rights as well.</div>
<div>
	&nbsp;</div>
<div>
	In the economic realm, no more incitement to violence should be tolerated if we want prosperity in the country. The entrepreneurs have long been appealing the political parties to resolve the issue through dialogue as soon as possible. Nepal should be a bandh free zone, if we want double digit growth. Investors will shy away if there is frequent bandh in the country. There is an urgency to rethink the existing culture of bandh by the political parties.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'No-brainer that the Nepali industries, and the entire economy, bear a daily monetary loss in billions due to bandh. Nepal’s economy, which has been suffering due to lack of security, higher interest rates, and irregular power supply and liquidity crunch, will ultimately collapse if such general strikes are frequent.',
			'sortorder' => '1677',
			'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' => '1815',
			'article_category_id' => '145',
			'title' => 'Problems In Mutual Funds',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;">The third edition of Money Expo for the year 2013 will take place in the Capital from October 31 to November 2. Being the largest finance and investment show in Nepal, the expo will focus on the promotion of investment opportunities and wealth protection strategies. In the expo, a separate interaction entitled &lsquo;Mutual Fund: Another Attraction of Investment&rsquo; will be organized. New Business Age recently conducted a discussion on the same issue and experts presented their opinions.<strong> Excerpts:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Niraj Giri Spokesperson, Sebon" src="/userfiles/images/ng.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 187px;" />Niraj Giri </strong></span></div>
<div>
	<span style="font-size:14px;">Spokesperson, Sebon</span></div>
<div>
	&bull;Financial literacy is crucial for the expansion of mutual funds. Literacy is necessary for policy makers as well as investors.&nbsp;</div>
<div>
	&bull;The Mutual Funds have been established to develop and expand share markets in the country. The fund is aimed at reducing the problem of institutional investment in the share market. This may also help expand the stock market.</div>
<div>
	&bull;Even investors should put forth their initiatives for financial literacy. In &nbsp;developed countries, investors are more proactive than the regulator in initiating financial literacy programmes.&nbsp;</div>
<div>
	&bull;Our market is completely focused in Kathmandu which is another stumbling block for mutual funds.</div>
<div>
	&bull;Absence of an independent mechanism to fix the price of securities is another problem.</div>
<div>
	&bull;Citizen Investment Trust (CIT) has been failing to work in line with its objective. We have to develop it as a market maker.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Pravin Raman Parajuli  CEO, Nabil Investment Banking Ltd " src="/userfiles/images/prp.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 187px;" />Pravin Raman Parajuli </strong></span></div>
<div>
	<span style="font-size:14px;">CEO, Nabil Investment Banking Ltd&nbsp;</span></div>
<div>
	&bull;We have equal opportunities in mutual funds. However, managing the fund is indeed a challenging job.&nbsp;</div>
<div>
	&bull;A mutual fund plays a key role in providing security to its unit holders. That is why it should not be restricted to buy and sell shares.</div>
<div>
	&bull;We have 21,000 investors associated with our group. Most of them are grass root investors. We have also found that some of them are investing assuming mutual funds as IPOs.</div>
<div>
	&bull;Worldwide practice in mutual funds involves professional investment management and risk diversification. But the big question now is: have we been able to diversify risks? There have been some problems due to market limitations. Our market is full of banks and financial sectors. If we have to diversify our investment in the future, there seems to be no place for it.</div>
<div>
	&bull;Investors should also think about where they should invest next and what would be its risks and consequences.</div>
<div>
	&bull;We have to think about long term consequences rather than temporary ones.</div>
<div>
	&bull;We have to think about bringing real sector companies into the public for market diversification.</div>
<div>
	&bull;The nation should also take steps on awareness on mutual funds.</div>
<div>
	&bull;Stock availability is another problem. Out of total listed shares, only 8-10 per cent are available for trade.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Narayan Prasad Ghimire Chief, Share Division, Citizen Investment Trust " src="/userfiles/images/npg.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 188px;" />Narayan Prasad Ghimire</span></strong></div>
<div>
	<span style="font-size:14px;">Chief, Share Division, Citizen Investment Trust&nbsp;</span></div>
<div>
	&bull;The Mutual Fund is a good option from a profit-making perspective because it has fewer risks.</div>
<div>
	&bull;Interest on mutual funds is declining because of the government&rsquo;s policies regarding mutual funds. We had requested the government for exemption of income tax on at least Rs 50,000 of the total income of investors. But that could not be addressed in the budget, which has discouraged investors.</div>
<div>
	&bull;Because of less profit on mutual funds, people prefer direct personal investments instead.</div>
<div>
	&bull;The main problem of mutual fund is that most people lack knowledge about it. People who are aware are not interested in investing. That is why, despite the ability to invest, participation has not increased.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Shreejesh Ghimire CEO, NMB Capital" src="/userfiles/images/sg(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 188px;" />Shreejesh Ghimire</span></strong></div>
<div>
	<span style="font-size:14px;">CEO, NMB Capital&nbsp;</span></div>
<div>
	&bull;The demand of the mutual fund is very high in other countries but in the context of Nepal, demand is declining in spite of the progress the fund has made. This is the result of lack of awareness. The government made the policy but did not help further. The regulatory body SEBON, too, did not address the problem in time.</div>
<div>
	&bull;People are not aware of the benefits of investing on mutual funds. The main problem is market awareness which is very low. All stakeholders should work on raising awareness among people.</div>
<div>
	&bull;Lack of far sightedness in investors is another problem. Investors expect to double their amount invested in IPO. And if the company does not give result in four months, they believe it to be a bad company. As mutual funds&rsquo; plan is of five years, at least a year should be given before making any comments.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Dhruba Timalsina CEO, Siddhartha Mutual Fund" src="/userfiles/images/dt.jpg" style="
float: left; margin: 0px 10px 0px 0px;height: 186px; width: 150px;" />Dhruba Timalsina</span></strong></div>
<div>
	<span style="font-size:14px;">CEO, Siddhartha Mutual Fund</span></div>
<div>
	Rumours often create problems for mutual funds. &nbsp;For example, some vested interest people sometimes try to reduce share price of a certain company by creating a rumour.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The mutual fund is given priority while issuing new shares. The general public thinks that the fund manager will get undue profit from such arrangement. It is a big misconception. The profit and advantage of the fund is not for the fund manager but for investors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I have seen financial illiteracy among investors as another big problem. They look forward to share prices rather than the overall returns.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Central Depository System (CDS) has not been working fully. Tasks have not been performed yet in shares dematerialisation. &nbsp;Given that investors outside the valley do not have access to opportunities, it is necessary to make CDS work fully.</div>
<div>
	&nbsp;</div>
<div>
	It is also necessary to make it clear that mutual funds are different from market makers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Uddhab Shivakoti Share Investor" src="/userfiles/images/us.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 190px;" />Uddhab Shivakoti</span></strong></div>
<div>
	<span style="font-size:14px;">Share Investor</span></div>
<div>
	Mutual funds have failed to work as market makers. &nbsp;As they have failed to work as market makers, it shows that there is no difference between collective fund investors and mutual funds. &nbsp;When the market declined, mutual funds could have played a role to increase demand. Similarly, it can help in meeting demand if the market is booming. But such things have not happened.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	If we observe the portfolio of the mutual funds, we can find that the investment has not been&nbsp;</div>
<div>
	done sincerely.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-10-01',
			'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 third edition of Money Expo for the year 2013 will take place in the Capital from October 31 to November 2. Being the largest finance and investment show in Nepal, the expo will focus on the promotion of investment opportunities and wealth protection strategies.',
			'sortorder' => '1676',
			'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' => '1814',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (16-22 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Indian Foreign Secy calls on Prez Yadav, Chairman Regmi</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/ind(1).jpg" style="width: 500px; height: 213px;" /></div>
<div>
	&nbsp;</div>
<div>
	In her two-day visit to Nepal, India&rsquo;s Foreign Secretary Sujatha Singh called on President Dr Ram Baran Yadav and Interim Election Council Chairman Khil Raj Regmi separately last Sunday at the official presidential residence to discuss bilateral relations, expansion of mutual cooperation and the contemporary situation of Nepal.At the meeting with Chairman Regmi at Singhadurbar, Singh expressed her hope that the Constituent Assembly polls will be held on the scheduled date of November 19. &ldquo;The Government of India is ready to provide all kinds of assistance to that end,&rdquo; she reportedly said. Singh, who had arrived in Nepal last Saturday after being appointed as Foreign Secretary of the Government of India, also met with Nepali Congress president Sushil Koirala and CPN (UML) chairperson Jhalanath Khanal the same day. Senior officers at the Foreign Ministry, Indian Ambassador to Nepal Ranjit Rae and senior officers of the Indian Embassy were present in both meetings.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Europe Condemns Thursday Bandh&nbsp;</strong></span></div>
<div>
	The European Union (EU) and other countries have condemned the bandh enforced by the CPN-Maoist-led 33-party alliance last Thursday. Releasing a communiqu&eacute;, ambassadors of the European Union (Denmark, Finland, France, Germany, the UK and the EU Delegation), Norway and Switzerland deplored the bandha. Stating that a bandh undermine their joint development efforts and Nepal&rsquo;s investment, the ambassadors have asked all those who aspire to lead this nation to renounce the use of bandhs in the interest of the people. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Ready for Polls if Regmi Quits CJ Post: Gurung</strong></span></div>
<div>
	CPN-Maoist secretary Dev Gurung said they were ready to participate in the upcoming Constituent Assembly election process if the Chairman of the Interim Election Council, Khil Raj Regmi, quits the post of Chief Justice. Speaking at a programme in the capital last Thursday, Secretary Gurung claimed the current political crisis will end if Regmi tenders his resignation from the Chief Justice.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gorkha&rsquo;s Right Holders to Go to Fujel</strong></span></div>
<div>
	Human rights activists in Gorkha planned to assess the situation of Fujel VDC in a bid to rehabilitate Nanda Prashad Adhikari and Gangamaya Adhikari, who broke their hunger strike recently. The meeting of nine human rights organisations active in Gorkha held last Monday (September 9) decided to visit the Adhikari couple in Fujel VDC, ward no. 7, Chamati to assess the situation of the couple&rsquo;s rehabilitation. The couple last week had broken their indefinite hunger strike at Bir Hospital in Kathmandu following a three-point agreement with the government.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Singer Phatteman Passes Away</strong></span></div>
<div>
	<img alt="" src="/userfiles/images/sf.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 115px; height: 127px;" />Senior singer and musician Phatteman Rajbhandari passed away at the age of 77 last Tuesday while receiving treatment for lung cancer at Om Hospital, Chabahil in Kathmandu. An accomplished singer and musician, Phatteman has lent his voice to and composed music in more than 400 songs and devotional hymns. &nbsp;His last rites were performed at the Pashupati Aryaghat the same day as per Hindu rituals. Chairman of the Council of Ministers Khil Raj Regmi, political leaders, as well as a large number of people from different walks of life went to Pashupati to pay their last respects to the late singer. &nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 her two-day visit to Nepal, India’s Foreign Secretary Sujatha Singh called on President Dr Ram Baran Yadav and Interim Election Council Chairman Khil Raj Regmi separately last Sunday at the official presidential residence to discuss bilateral relations, expansion of mutual cooperation and the contemporary situation of Nepal.',
			'sortorder' => '1675',
			'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' => '1813',
			'article_category_id' => '142',
			'title' => 'Poll Update (16 - 22 September 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="Chief Election Officer Neel Kantha Uprety" src="/userfiles/images/1(3).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 106px;" />&ldquo;Finalise the number of CA seats&rdquo;</span></strong></div>
<div>
	Chief Election Officer Neel Kantha Uprety urged leaders of major parties to finalize the number of seats for the Constituent Assembly at the earliest. Speaking at a programme in the capital last Wednesday, he said that finalizing the number of seats would ease the election process for the Election Commission.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Surya Bahadur Thapa" src="/userfiles/images/2(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 111px;" />RPP Pushes for CPN-Maoist in Polls</strong></span></div>
<div>
	Election of the Constituent Assembly without the participation of the CPN-Maoist would render the process incomplete, said Rastriya Prajatantra Party (RPP) chairperson Surya Bahadur Thapa. Speaking at a press conference in Biratnagar last Thursday, Chairman Thapa advised the government and the major political parties to hold a decisive talk to bring the 33 party-alliance led by CPN-Maoist into the election process.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Kedarnath Upadhyay " src="/userfiles/images/3(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 114px;" />NHRC Ruling Against Children Use in CA Polls</strong></span></div>
<div>
	National Human Rights Commission Chairperson Kedarnath Upadhyay has urged political parties to not use children in the upcoming Constituent Assembly elections. Speaking at a function to sign an agreement with UNICEF on child rights promotion and advocacy project last Wednesday, Upadhyay said the NHRC will be more vigilant against using children.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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' => '',
			'sortorder' => '1674',
			'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' => '1812',
			'article_category_id' => '196',
			'title' => 'Weekly Roundup (9 - 15 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<ul>
	<li>
		The 12-point Birgunj Declaration that emerged from the Nepal Leadership Summit 2070 organised by New Business Age Pvt Ltd and Birgunj Chamber of Commerce and Industries on September 4 in Birgunj continues to draw the attention of the government, political parties and the business fraternity. Terming the declaration as a benchmark for setting government policies, Finance Minister Shankar Koirala said the consensus reached during the programme among former prime ministers to make the economy a common agenda would help the government create an investment- friendly environment in the country if implemented.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Despite CPN-Maoist&rsquo;s positive signal to join the poll process bringing a sigh of relief to the business community that has been reeling under political uncertainty, the bandh enforced by the party last Thursday caused significant loss in the economic sector. Factories were once again shut down, vehicles remained off the roads, businesses closed down and shops were shuttered.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		The debt-ridden Nepal Oil Corporation&rsquo;s decision to hike the price of petroleum products riled the student unions, airlines operators and the general public. The NOC decided to increase the price of petrol by Rs 5, kerosene by Rs 3 and aviation fuel by Rs 7 per litre. The NOC said it was compelled to hike the price following the price rise in the international market. The state-owned entity hiked the price for the second time after the formation of the Khil Raj Regmi-led government. The rise in price of petroleum products has once again initiated debates on automatic price fixation and the state&rsquo;s monopoly in the trading of petroleum products.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		The over-subscription for the reverse repo held by the Nepal Rastra Bank (NRB) indicates that the banking system is sitting on a huge cash deposits. Estimates put this at Rs 60 billion, and it is feared that it pose a high risk of liquidity-induced inflation during the forthcoming festive seasons. According to the NRB, it has received the bid from BFIs worth Rs 42 billion last week for the reverse repo issued by NRB worth Rs 10 billion. The NRB had issued the reverse repo in the previous week worth Rs 5 billion for the first time in three years and received a bid worth Rs 30 billion at that time. Lax credit demand, a rising flow of remittance and low investment from investors stalled in a wait-and-watch mood are the reasons behind the excess liquidity in the banking system.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Data shows that the domestic currency that has witnessed rapid devaluation in comparison to the US dollar in the last few weeks became slightly stronger last week. The Nepali Rupee was traded at Rs 101.71 per US dollar last Saturday, while it was traded at Rs 104.20 per US dollar on the same day of the previous week. As the Nepali currency against the US dollar rose slightly, the price of gold became relatively cheaper last week. &nbsp;The price of the precious yellow metal went down by Rs 3000 in a week trading at Rs 47,840 per 10 grams last Friday. The price on the same day of the previous week was Rs 50840 per 10 grams. Meanwhile, the government hiked the import duty of gold last Friday by 44 per cent. Duty price of the bullion has now reached Rs 5000 per 10 gram.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Data from the Department of Food Technology and Quality Control (DFTQC) revealed that adulteration in edible products has reached an average of 20 per cent, thanks to the government&rsquo;s apathy towards monitoring the market. Releasing the data, the Director General of the DFTQC rued the lack of strong laws to take stern action against adulterers. According to the department, adulteration ranging from 3 to 31 per cent of total content was found mostly in the bottled water, milk, oil and other consumable goods.</li>
</ul>',
			'published' => true,
			'created' => '2013-09-16',
			'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 12-point Birgunj Declaration that emerged from the Nepal Leadership Summit 2070 organised by New Business Age Pvt Ltd and Birgunj Chamber of Commerce and Industries on September 4 in Birgunj continues to draw the attention of the government, political parties and the business fraternity.',
			'sortorder' => '1673',
			'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' => '1811',
			'article_category_id' => '140',
			'title' => 'CPN-Maoist ‘Positive’ On Contesting CA Polls',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	In what appears to be a major shift from its previous intransigent stance to totally boycott the Constituent Assembly elections, the agitating CPN-Maoist party last week demonstrated flexibility to participate in the election process.</div>
<div>
	&nbsp;</div>
<div>
	CPN-Maoist, which had endorsed a strategy to disrupt the CA polls through its central committee meeting held in June 30 in Pokhara, expressed its commitment to join the election process if its demands, including the polls deferral for April, are met.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	During an all-party-meeting organized by President Dr Ram Baran Yadav at the Presidential Palace Shital Niwas last Friday, the poll-opposing party CPN-Maoist floated its four-point proposal as a way-out to the current political impasse.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The four-point proposal comprises convening a Round-Table-Conference (RTC) to make decisions on the basis of consensus, dissolution of the Khil Raj Regmi-led government to form all-party-government, or Regmi&rsquo;s resignation from the post of Chief Justice, and deferring CA polls for four months.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the parties representing the High Level Political Committee rejected outright the CPN-Maoist call for deferring polls, they have termed the proposal as positive and as an indication of the latter&rsquo;s willingness to come on board the election process.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	UCPN (Maoist) leader Narayan Kaji Shrestha informed the media that the CPN-Maoist chairperson Mohan Baidya requested President Yadav and leaders of other parties to not cast any doubt over his party&rsquo;s intentions to contest in the CA polls. &ldquo;We are ready to join the poll process,&rdquo; Shrestha quoted Baidya as saying.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Emerging from the meeting, coordinator of the HLPC and president of the Nepali Congress Sushil Koirala told the media: &ldquo;Discussions are heading towards a positive direction, but the election cannot be postponed to April as demanded by the CPN-Maoist.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Echoing the views of HLPC coordinator Koirala, CPN (UML) Chairman Jhalnath Khanal said, &ldquo;Among four, only two proposals of the CPN-Maoist are positive.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	CPN-Maoist Secretary Dev Gurung said that other parties have taken positively to the proposal floated by his party.</div>
<div>
	&nbsp;</div>
<div>
	The all-party-meeting has resumed again at the Presidential Palace Shital Niwas when this paper went to print on Sunday (September 15) regarding the four-point proposal of the CPN-Maoist.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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 major shift from its previous intransigent stance to totally boycott the Constituent Assembly elections, the agitating CPN-Maoist party last week demonstrated flexibility to participate in the election process.',
			'sortorder' => '1672',
			'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' => '1810',
			'article_category_id' => '139',
			'title' => 'Nepal And The World Brief (16 - 22 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Obama to Nominate Summers as Fed Chief&nbsp;</strong></span></div>
<div>
	US &nbsp;President Barack Obama will name former Treasury Secretary Lawrence &ldquo;Larry&rdquo; Summers as chairman of the Federal Reserve Board,Japan&rsquo;s Nikkei newspaper said on Friday. The newspaper, quoting unnamed sources, said that Obama was &ldquo;in the final stages&rdquo; and moving toward naming Summers. Debate in Washington has focused on whether Obama will pick Summers or Fed Vice Chair Janet Yellen to succeed Ben Bernanke, whose term as head of the U.S. central bank expires in January.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Growth in G-20 Countries Accelerates</strong></span></div>
<div>
	Growth in the Group of 20 emerging and advanced economies accelerated in the second quarter of this year to 0.9 percent from 0.6 percent in the previous three month period, the OECD said last Thursday. Most G20 members saw growth pick up momentum in April through May, with Turkey posting the highest quarter-on-quarter expansion of 2.1 percent, said the Organisation for Economic Cooperation and Development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>China&rsquo;s New Richest Man Worth $22 bn</strong></span></div>
<div>
	China&rsquo;s new richest man -- real estate and hotel king Wang Jianlin -- is now worth $22 billion, up from $10.3 billion in 2012, according to the latest Wealth Report from the Hurun Research Institute and marketing firm GroupM Knowledge. Wang easily ousted China&rsquo;s former No. 1, Zong Qinghou, who is now No. 2 with a net worth of $18.7 billion.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Plan for EU Financial Tax Found to be Illegal</strong></span></div>
<div>
	Legal advisers have cautioned 11 EU Governments that a proposal they are considering for a tax on financial transactions is illegal. The legal service that advises EU member states found that the suggested approach on which companies should be taxed is &ldquo;discriminatory,&rdquo; will probably distort competition, violates EU law and &ldquo;exceeds member states&rsquo; jurisdiction for taxation,&rdquo; according to a copy of the opinion published last week.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australian Unemployment Highest in 4 Years</strong></span></div>
<div>
	&nbsp;Australia&rsquo;s jobless rate edged up to 5.8 percent in August, a level not seen since the global financial crisis, with the sluggish economy shedding 10,800 jobs as the mining investment boom unwinds. &nbsp;The Australian Bureau of Statistics said the seasonally adjusted rate -- up from 5.7 percent in July -- the highest since August 2009.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => '',
			'sortorder' => '1671',
			'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' => '1809',
			'article_category_id' => '161',
			'title' => '‘Radio Easily Delivers Information About Development, Diversity And Democracy’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><img alt="Upendra Aryal " src="/userfiles/images/idp.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 221px;" />Equal Access Nepal, the Nepal wing of the Equal Access International, has been working on a wide range of developmental issues and themed radio programmes &mdash; aiming for a social change since 2004. Equal Access Nepal&rsquo;s Acting Executive Director Upendra Aryal spoke to Sanjeev Sharma of The Corporate about the organisation&rsquo;s initiatives. <strong>Excerpts :</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of Equal Access in Nepal?</strong></span></div>
<div>
	We are currently working in media development and behaviour change communication. &nbsp;We have been trying to reach out to the audience of different classes, ages, and communities through radio. I feel that radio is the most effective medium because of its easy accessibility and the broadcast could reach the remotest parts of the country. We have been working in various sectors such as family health care, maternal health, child care, family planning, Early Grade Reading (EGR), Early Childhood Development (ECD), primary education, community empowerment, youth and teenage problems etc. We are also focused on the political issues through our radio programmes.</div>
<div>
	&nbsp;</div>
<div>
	Nepal is witnessing a remarkable growth in the radio broadcast sector. The liberal media policies endorsed by the government (after the democratic change) have helped the broadcast sector to flourish in this country. However, there are some issues concerning the quality of the radio programmes. A successful radio presentation is combined with the good quality of mixing, scripting, innovative formatting and various other aspects of post-production.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the core working areas of Equal Access in Nepal?</strong></span></div>
<div>
	We are working in health, education, political, constitutional segment and youth-oriented programmes. The programmes are focused on media education, gender issues, constitution drafting process, good governance etc. One can listen to such content in the widely listened radio programme known as &ldquo;Naya Nepal&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, Mamata (maternal health), Deshpardesh (cross border content, which include health issues), &lsquo;Saathi Sanga Maan Ka Kura&rsquo; (sharing thoughts with friends) are our popular radio programmes focused on various health and peer pressure issues. Likewise, &lsquo;Samajdari&rsquo;, a series on spouse communication and &lsquo;Kaam ka Kura&rsquo; (based youth employment issues) are also widely listened. Equal access&rsquo;s contents are taken as meaningful and useful. Through these programmes, we are reaching nearly to 12.5 million listeners across the country.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How can we utilize radio as means of development?</strong></span></div>
<div>
	Radio has evolved as one of the most effective means of development. We are using radio as a tool to facilitate the dialogue and conversation about sustainable development. On an average, the Nepali radio stations are broadcasting for 18 hours a day reaching across all the corners of country. This shows that the radio penetration can be of great help to deliver the messages quickly. Radio broadcast is also interlinked with issues in various cultural or linguistic diversities and democracy. We can take radio as a &lsquo;3D&rsquo; medium because it helps to deliver messages and information about issues related to development, diversity and democracy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of radio in promoting micro-entrepreneurship?</strong></span></div>
<div>
	Micro-entrepreneurship is so far concerned with the income generation, village banking, micro-credit and ultimately the economic empowerment of underprivileged people. Radio stations across the country are broadcasting various programmes on micro-financing and livelihood solutions. However, radio can&rsquo;t be taken as an effective medium for income generation training purposes. For example, a website can better explain farmers about the farming techniques with illustrations and pictures which radio is unable to explain. But we can integrate the radio programmes and suggest the farmers about the links to such websites.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Equal Access Nepal has been emphasizing the use of technology to deliver information to the general public?&nbsp;</strong></span></div>
<div>
	Information technology has helped us a lot. For instance, different communities can share their messages through our websites. It can encourage citizen journalism as well. We operate some blog sites such as www.meroreport.net and www.mediamanch.net to facilitate citizen journalism across the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, we also offer free SMS service which is integrated to the above mentioned websites. The websites include interactive voice recording system that enables to convert recorded voice into text format. This is providing interactive platform to share messages where others can also give opinions on various issues.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of Nepali media in terms of economic and social development of the country?</strong></span></div>
<div>
	Nepali media sector is vibrant. Though they mostly cover political issues but economic, social and environmental affairs are also given ample space in the newspapers, television, radios and websites. Nepal media are disseminating information of nearly all the sectors. We can take examples of some successful publications. In my opinion the &lsquo;Shikshyak&rsquo; magazine is a very good example which is providing valuable information on education and development. Though we still lack thoughtful journalism, Nepali media sector has been its role positively in socio-economic development of the country.&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Equal Access Nepal, the Nepal wing of the Equal Access International, has been working on a wide range of developmental issues and themed radio programmes — aiming for a social change since 2004.',
			'sortorder' => '1670',
			'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' => '1808',
			'article_category_id' => '137',
			'title' => 'China Becomes World’s Third Largest Investor After US, Japan',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China has emerged as the world&rsquo;s third largest investor as Foreign Direct Investment (FDI) from the giant jumped by 17.6 percent last year defying a global pattern. China&rsquo;s outbound FDI rose 17.6 percent year-on-year in 2012 to a record high of USD 87.8 billion, according to the 2012 Statistical Bulletin of China&rsquo;s Outward Foreign Direct Investment (ODI) by the Ministry of Commerce. Even as global ODI slid 17 percent last year amid uncertainties facing the world economy, China is now world&rsquo;s third-largest investor, following the United States and Japan, for the first time since the country began to release the data a decade ago.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China currently holds about USD 3.30 trillion foreign exchange reserves. About USD 1.20 trillion is invested in US bonds. China was world&rsquo;s sixth-largest investor in 2011, with an ODI flow of USD 74.65 billion. Last year&rsquo;s increase represented an acceleration from 8.5 per cent in 2011, when the global economic recovery was weak in the face of continuing financial turmoil in Europe and the United States. &ldquo;The Chinese government introduced measures to encourage outbound direct investment in pursuit of the &lsquo;going abroad&rsquo; strategy, and the country&rsquo;s outward FDI maintained robust growth in recent years,&rdquo; &nbsp;said Zhou Zhencheng, commercial counselor of the department of outward investment and economic cooperation of the Ministry of Commerce. Huo Jianguo, president of the Chinese Academy of International Trade and Economic Cooperation, was quoted by the state-run China Daily as saying that the surge in ODI was mainly driven by domestic enterprises eager to tap overseas markets and profit from using global resources. &ldquo;Debt crises and slowing growth in developed economies opened up great opportunities for Chinese enterprises to invest abroad, and the renminbi&rsquo;s appreciation helped the process,&rdquo; Huo said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China&rsquo;s non-financial ODI went up 13.3 per cent last year to USD 77.73 billion, accounting for 88.5 per cent of the total. Financial ODI surged 65.9 per cent to USD 10.07 billion, the bulletin said. Investment in US jumped 123.5 per cent to USD 4.05 billion, making it the second-largest destination for China&rsquo;s ODI, the report said. Total ODI to developed economies was around USD 13.51 billion. Chinese investors have established about 22,000 overseas enterprises in 179 countries and regions, &ldquo;and about 79.2 per cent of them made profits or maintained a balance&rdquo;, Zhou said. He warned that Chinese enterprises are facing rising risks and challenges, including political unrest in Africa and Southeast Asia. Other challenges include increasing competition from developed economies and restrictions in those markets.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<span style="font-size:14px;"><strong>Chinese Investment in Nepal Rising</strong></span></p>
</div>
<div>
	The northern neighbour has been gradually increasing its investments in Nepal. According to Nepal government&rsquo;s latest data, in the fiscal year 2012/13, China committed highest foreign direct investment (FDI) in Nepal surpassing India. In the last FY China alone accounted for 30.89 percent of the total amount of the FDI commitment in Nepal. The data showed that Nepal has received Rs 19.39 billion worth of Chinese FDI against Rs 11.49 billion in the previous FY. In FY 2011/12, China stood second in terms of investments in the country after India.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the last FY, investors from mainland China and Hong Kong registered 96 and four investment projects respectively. The investment projects mainly include medium and small businesses such as hotels, restaurants, travel agencies, handicrafts, fisheries and agricultural industries. However, Chinese investors are also pouring their investments in big infrastructure projects of Nepal. Sinohydro Resources Ltd, a Chinese multinational giant has invested in the 50 megawatts Upper Marsyangdi &lsquo;A&rsquo; hydropower project, which is under construction. Similarly, Sinohydro and other Chinese contractors are also developing major Nepali hydel projects such as the 456 MW Upper Tamakoshi, 30 MW Chamelia, 14 MW Kulekhani-3.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-23',
			'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' => 'China has emerged as the world’s third largest investor as Foreign Direct Investment (FDI) from the giant jumped by 17.6 percent last year defying a global pattern.',
			'sortorder' => '1669',
			'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' => '1807',
			'article_category_id' => '135',
			'title' => '‘Nepal Should Wait And Watch’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">The pinch of continued depreciation of the nepali rupee is hurting nepali economy. This has renewed the debate &nbsp;on nepal&rsquo;s currency policy: &nbsp;whether to leave the Nepali currency pegged on the Indian Rupee, or to just devalue it to reflect the current realities asNepal imports most of the daily necessites and industria raw material and the exportable surplus is very low.The Corporate Weekly this week spoke to economists to gather their views on the debate. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Prof Dr Navaraj Kandel" src="/userfiles/images/nd.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 146px;" />Prof Dr Navaraj Kandel</span></strong></div>
<div>
	<span style="font-size:14px;">Central Department of Economics, Tribhuvan University</span></div>
<div>
	The most prominent impact of the increasing value of the US dollar against the Rupee would be a sharp rise in the price of imported goods. The tendency of businessmen in countries like Nepal is to increase the prices when the value of dollar rises but to make very small reduction in prices when the dollar devaluates. This leaves the consumer victimized. Therefore, it is better to leave our currency pegged as we import most products from India and this pegged policy gives us a very stable market.</div>
<div>
	&nbsp; &nbsp;&nbsp;</div>
<div>
	<span style="font-size:14px;"><img alt="Prithvi Raj Ligal" src="/userfiles/images/prl.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 141px;" /><strong>Prithvi Raj Ligal</strong></span></div>
<div>
	<span style="font-size:14px;">Former Vice-Chairman, National planning commission</span></div>
<div>
	Nepal has deeply rooted economic relations with India and has pegged its currency with India&rsquo;s so that there is stability in the currency. The peg to maintain smooth trade and commercial relations with the world at large. Despite many informal trade relations with India, our market remains stable thanks to the peg. However, according to the IMF, in comparison to the Indian currency in the past 3-4 years, the Nepali Rupee has devaluated by 15 per cent. Therefore, these policies have to be evaluated by comparing both countries&rsquo; currency values. However, the consistent devaluation of the Indian Rupee is definitely making market prices unstable, as businessmen have &nbsp;started setting prices of the imported goods according to their own forecasts of currency values in the immediate future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Deependra Bahadur Kshetry" src="/userfiles/images/dbk.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 151px;" />Deependra Bahadur Kshetry</span></strong></div>
<div>
	<span style="font-size:14px;">Former governor, Nepal Rastra Ban</span>k</div>
<div>
	It should not be debated whether the currency has to be pegged or not. The debate, rather, should be about how to avoid such devaluation. Since Nepal Rastra Bank has already made it clear that it will not remove the peg, and since our economy is very fragile at this point, the country might face a great inflation if we remove the peg abruptly. The Indian economy has been working a lot to unwind this devaluation, therefore we will have to wait and watch till there is certain level of stability in the Indian Rupee. We should also try and increase our foreign currency reserve. If that is not possible we should try to maintain it at the current level.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 pinch of continued depreciation of the nepali rupee is hurting nepali economy. This has renewed the debate  on nepal’s currency policy:  whether to leave the Nepali currency pegged on the Indian Rupee,',
			'sortorder' => '1668',
			'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' => '1806',
			'article_category_id' => '134',
			'title' => '‘Nepal Needs Urgent Reforms, Not Tourism Year Gimmick’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="Raja Ram Giri," src="/userfiles/images/iv.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 221px;" />Raja Ram Giri</strong>, an NRN based in London, is Director of Samsara Nepal Financial Services Ltd, the first money transfer company in the UK to be owned by a Nepali. He is also the Managing Editor and Publisher of Himalayas magazine, an annual publication that promotes Nepali tourism in the UK and Europe. Giri spoke to Britant Khanal of The Corporate Weekly about the performance of his businesses in the UK.<strong> Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the concept behind launching a magazine like Himalayas in the UK? Who are its readers and what has been the response thus far? &nbsp;&nbsp;</strong></div>
<div>
	This magazine was not the reason why I went to UK. Initially, I wanted to study Information Technology. I was studying at a university where there were no students from our side of the world which made me feel very alien. One day a professor told me that he had been to my country. But when he described what he saw, I realized he was talking about Darjeeling, not Nepal. That was when I quit IT and shifted to Tourism Studies and planned to do something that would make the world recognize my country. So, this magazine was an outcome of my ego and pride. It has been doing a decent job in making our country known in London and many parts of Europe. &nbsp; &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What has your role been so far in promoting Nepali Tourism to the rest of the world?</strong></div>
<div>
	When I started studying tourism, Nepal was celebrating the Visit Nepal Year 1998. &nbsp;Since the country was celebrating a national festival, I thought of doing something along the same lines, and then contacted the Nepali embassy in the UK. With their help, I held a small cultural programme at my college in front of almost 1,300 students explaining what Nepal is and what it looks like. The programme was very much appreciated. Since then, I have been doing the same job trying to tell people how beautiful my country is and taking pride in it. &nbsp; &nbsp; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are some tangible hindrances seen in promoting Nepali tourism to the rest of the world?</strong></div>
<div>
	What our politicians have to understand is that declaring a tourism year will not bring tourists. They will have to work on tourism policies to attract tourists instead of showering flowers from helicopters on the day of declaration and spending millions on inaugurals. They will have to explain to tourists what Nepal looks like and what our culture is. They could have come with cultural programmes in famous places of different cities like the Trafalgar Square, London or may be some place in New York, too. Another basic obstruction is transportation - the Government of Nepal has not been able to provide sufficient number of flights of the Nepali airlines to and from tourist originating areas.</div>
<div>
	&nbsp;</div>
<div>
	<strong>You are also associated with the Kathmandu-Kulekhani-Hetauda Tunnel Road. Could you tell us a little about that?</strong></div>
<div>
	We have been working on the Kathmandu-Kulekhani-Hetauda tunnel road and it is one of the first private sector initiatives in structural design and work. This project seems very promising for transportation. It will assist in the smooth functioning of business and economy. This project also hopes to bring a lot of investments from Samsara UK and a lot from non-resident Nepalis living in UK. There are reasons why these kinds of project are not pacing up in our country. For one, we are still using the traditional way of construction. We still see workers using hammers on the road whereas technology around the globe has taken a leap ahead. Therefore, we are working hand-in-hand with other domestic companies to bring required changes in infrastructure to speed up the pace of work.</div>
<div>
	&nbsp;</div>
<div>
	<strong>You own a company called &lsquo;Samsara Nepal&rsquo; in the UK. What is the function of this company and what are your future plans for Nepal?</strong></div>
<div>
	Samsara Nepal is basically a company for remittance. This company too was an outcome of an incident. I was working in some other company back then in the UK and had sent some money back home which unfortunately went to Mumbai because the company I sent the money through thought Kathmandu was in India, and had written KTM India in the address. The money went to an Indian branch which was in Mumbai. Later, I filed a complaint and resent the money.</div>
<div>
	&nbsp;</div>
<div>
	Sixteen years back, when I first went to the UK, there were no proper and reliable remittance companies to send money through. There was an informal money sending mechanism popularly known as the Hundi system of which the government has no record of. Therefore, we came up with an idea of setting up a company which would provide a safe way to send money back home. We have now been working with Sunrise Bank, Himalayan Bank and Standard Chartered Bank in sending hard earned remittances back home. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Besides sending money from London to Nepal, this company also wants to promote our national economy. Samasara Nepal wants to suggest the government to impose a certain level of taxes on the remittance which immigrants could use after returning back to the country. This would benefit the individual and the nation overall, because while an amount approximately equal to 27 per cent of Nepal&rsquo;s GDP comes in as remittance, it has not been invested in a productive sector as far as I know. The government should focus on capitalizing on remittance by investing it in productive sectors.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Raja Ram Giri, an NRN based in London, is Director of Samsara Nepal Financial Services Ltd, the first money transfer company in the UK to be owned by a Nepali. He is also the Managing Editor and Publisher of Himalayas magazine, an annual publication that promotes Nepali tourism in the UK and Europe. Giri spoke to Britant Khanal of The Corporate Weekly about the performance of his businesses in the UK.',
			'sortorder' => '1667',
			'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' => '1805',
			'article_category_id' => '122',
			'title' => 'Golyan Group: Looking Beyond Textiles',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	New Model of CSR: Social Enterprise</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Pawan Golyan, Chairman of Golyan Group is dedicated to Corporate Social Responsibility (CSR) and treats his CSR projects as invaluable business ventures. He has adopted two villages in Kailali district and is working for enhancing the livelihood of local people by providing opportunities for sustainable source of income. These two villages have around 340 households with a total population of nearly 1500 people.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Nauniya, a village Golyan adopted has a majority of settlements of mukta kamaiya (freed bonded labours). &nbsp;Each household owns a small piece of land provided by the government and a house to live in, built by a donor agency. Golyan says that the male members of the community have been making their living by migrating to India after completing rice cultivation while women are mostly unemployed.&nbsp;</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Golyan helped install boring pumps for irrigation in the village. Similarly, he also established a training school targeting young women to train them in sewing and knitting. He says the first batch has completed the course and soon will find jobs within the locality. Golyan has also set up a tapari (plate made of leaves) factory. He has not only made investments but has also been managing the manufacturing unit. So far, the company has installed five machines for producing taparis and plans to increase to 30 machines. &ldquo;Then the factory can employ around 1000 people,&rdquo; says Golyan.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	He explains that out of the total profit made through this venture, 20 per cent goes for development work while the rest is used in replicating similar projects in other villages. &ldquo;I am doing all this to make the project sustainable so that it can continue even if am not there to look after them,&rdquo;&nbsp;</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Golyan says.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Around five kilometres north from Nauniya, Golyan has adopted another village with same socio economic situation like Nauniya. &nbsp;People have not been involved in income generating activities despite having land to make decent earnings. Golyan went there and requested locals to come up with a list of activities they could be involved in and assured them financial assistance. The group installed boring pumps in the village for irrigation after which the locals started vegetable farming after harvesting paddy.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	The group has also started a buffalo farming project. For this project, Rs 1.2 million was collected from 12 farmers while the company invested Rs 2 million, which was borrowed as soft loan. Then 26 buffaloes were brought from Haryana, India. &nbsp;To assist the farmers, the group has trained and employed a vet while one person is hired to monitor farmers&rsquo; activities to ensure they utilise the earnings in paying back the loan and for purchasing feed for the buffaloes. Golyan wants to develop this project as an example so that it can be replicated in other villages and be a model for fellow businessmen.&nbsp;</div>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<strong>--By Gaurav Aryal</strong></p>
<table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;">
	<tbody>
		<tr>
			<td>
				<img alt="Pawan Golyan, Chairman, Golyan Group" src="/userfiles/images/pg%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 220px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div>
						<strong>Pawan Golyan</strong></div>
					<div>
						Chairman, Golyan Group</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group, known to have a strong foothold in the textile industry, is planning to venture into the tourism industry of late. As a first venture into the new sector, a three star hotel is under construction at Baneshwor Height of Kathmandu. Pawan Golyan, Chairman of the group, says that the hotel will start its services within the next two years.&nbsp;</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	According to Golyan, the hotel&rsquo;s prime clients will be transit tourists as it will be located close to the Tribhuvan International Airport and Pashupatinath Temple, a popular Hindu shrine. The hotel will have 115 rooms. Golyan reveals that the company will tie up with an international hotel chain once the construction is completed.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The group plans to develop tourism as one of its core sectors. Golyan says that the hotel is being developed as a trial project before leaping into the industry. If things go as planned, the group plans to establish two and three star hotels in industrial hubs such as Biratnagar, Birgunj and Pokhara. &ldquo;We do not just dive into any business sector. We first try it to understand the scene before we move forward,&rdquo; he explains.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<strong><span style="font-size:14px;">Weaving the Industrial Base</span></strong></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group was founded by Sohan L Golyan, father of Pawan Golyan around five and a half decades ago with trading. The first manufacturing venture he established was a button factory, after which textile factories followed. In the course of the group&rsquo;s evolution, it involved itself in manufacturing a wide range of products such as slippers, zippers, audio cassettes among others, but they closed it down later. The textile and fabric based companies, however, lived on.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	When business was passed on to the second generation, Pawan Golyan started Reliance Spinning Mills Limited, one of the signature companies of the group. He says that this company registers an annual turnover of roughly Rs 5 billion and employs 3500 labours and 300 executives. Golyan claims that this is one of the largest industries in Nepal in terms of labour size and capital base. The group has invested around Rs 4 billion in this spinning mill alone.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<span style="font-size:14px;"><strong>Textile&rsquo;s Strength</strong></span></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Though the group went on exploring, it also started experimenting with various other sectors, textile manufacturing continued by extending product line from acrylic yarn to pashmina and packing sacks. Golyan says that the group at one point tried steel manufacturing but did not succeed as much as textiles. &nbsp;The group now considers textiles as its specialised sector, whether it is pashmina, cashmere sweaters, yarns or woven sacks.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The group now has five companies specialised in the textiles industry. Reliance Spinning, a state of the art spinning mill, manufactures spun yarns mainly in acrylic, polyester, viscose and blends. The products of this company are mostly exported to India. According to Golyan, 70 per cent of the products are exported to India, 20 to 25 per cent is sold in the domestic market, and the rest are exported to other countries. The company is now working towards producing cotton yarns to meet all domestic requirements.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Similarly, 95 per cent of cashmere and pashmina products produced by two companies - Tricot Industries and Himali Pashmina - are exported to the European, Australian and the US markets. The export surplus is sold in the domestic market through a showroom at Durbarmarg, Kathmandu. Tricot Industries was upgraded to a fully automated system around one and a half year ago.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Products such as circular knitted fabrics and woven sacks produced by Shivam, a third company, have their majority markets beyond Nepal - mostly in India, Bangladesh and Turkey. According to Golyan, around 80 per cent of Shivam Plastic&rsquo;s products are exported to India while remaining 20 per cent is sold in other countries including Nepal.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<span style="font-size:14px;"><strong>Expanding Business</strong></span></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group refrains from expanding the production capacity of its manufacturing units because of power shortage. &ldquo;If we had 24 hour power supply, we could double the production capacity of Reliance Spinning Mills and create jobs for 4000 people. But most of our factories are operating at 30 to 60 per cent of the installed capacity,&rdquo; he explains.&nbsp;</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Besides this, the group is determined to revive its interest in hydropower business. It had dropped five projects with a total capacity of 20 MW after procedural delays and obstruction from local bodies. Golyan says that the group will start researching other possible projects in the next three months.</p>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; text-align: center;">
						<strong><span style="font-size:16px;">New Model of CSR: Social Enterprise</span></strong></p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Pawan Golyan, Chairman of Golyan Group is dedicated to Corporate Social Responsibility (CSR) and treats his CSR projects as invaluable business ventures. He has adopted two villages in Kailali district and is working for enhancing the livelihood of local people by providing opportunities for sustainable source of income. These two villages have around 340 households with a total population of nearly 1500 people.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Nauniya, a village Golyan adopted has a majority of settlements of mukta kamaiya (freed bonded labours). &nbsp;Each household owns a small piece of land provided by the government and a house to live in, built by a donor agency. Golyan says that the male members of the community have been making their living by migrating to India after completing rice cultivation while women are mostly unemployed.&nbsp;</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Golyan helped install boring pumps for irrigation in the village. Similarly, he also established a training school targeting young women to train them in sewing and knitting. He says the first batch has completed the course and soon will find jobs within the locality. Golyan has also set up a tapari (plate made of leaves) factory. He has not only made investments but has also been managing the manufacturing unit. So far, the company has installed five machines for producing taparis and plans to increase to 30 machines. &ldquo;Then the factory can employ around 1000 people,&rdquo; says Golyan.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						He explains that out of the total profit made through this venture, 20 per cent goes for development work while the rest is used in replicating similar projects in other villages. &ldquo;I am doing all this to make the project sustainable so that it can continue even if am not there to look after them,&rdquo; Golyan says.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Around five kilometres north from Nauniya, Golyan has adopted another village with same socio economic situation like Nauniya. &nbsp;People have not been involved in income generating activities despite having land to make decent earnings. Golyan went there and requested locals to come up with a list of activities they could be involved in and assured them financial assistance. The group installed boring pumps in the village for irrigation after which the locals started vegetable farming after harvesting paddy.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						The group has also started a buffalo farming project. For this project, Rs 1.2 million was collected from 12 farmers while the company invested Rs 2 million, which was borrowed as soft loan. Then 26 buffaloes were brought from Haryana, India. &nbsp;To assist the farmers, the group has trained and employed a vet while one person is hired to monitor farmers&rsquo; activities to ensure they utilise the earnings in paying back the loan and for purchasing feed for the buffaloes. Golyan wants to develop this project as an example so that it can be replicated in other villages and be a model for fellow businessmen.</p>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Some Companies under Golyan Group</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Textile Manufacturing</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Reliance Spinning Mill</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Shivam Plastic Industries</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Tricot Industries&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					(Formally Makalu Cashmere)</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Himali Pashmina</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Financial Services</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>NIC Asia Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>NMB Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Nepal Life Insurance Company Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Lumbini Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Prudential Insurance Company Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					International Trade</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Atlanta Trading Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Westar Galaxy Trading Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Real Estate</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Westar Properties Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>City Properties</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Management&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					The group employs around 7000 staff. Pawan Golyan says that none of the companies have faced labour strikes and operation has not halted even for a minute. Cordial relationship maintained with workers has prevented disputes and also helped make employees a part of the Golyan family. Fair dealing and fair treatment to employees is the principle of the group when it comes to human resource management, according to Golyan. He says that the major problem is labour shortage rather than other functional wrangling. &nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Hi-life on Westar Properties</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Westar Properties Pvt Ltd, a subsidiary of the group, founded in 2008 has been developing apartment properties with technical collaboration with Westar Properties, Dubai. According to Golyan, 212 apartments are almost ready to be handed over to their buyers. &ldquo;We have delivered better quality than what we promised. There are no other projects in my knowledge that match the quality, facilities and price of this project, even in India,&rdquo;&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					he claims.</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					The group is planning to develop another high-end residential high-rise apartment at Soaltee Mode with premium facilities. According to Golyan, this new property will have state-of-the-art facilities including a gym, cinema hall, squash court, badminton and tennis courts, a jogging track and oxygen room among others. &nbsp;Golyan promises to complete this project by the first quarter of 2015.</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; text-align: center;">
					<strong><span style="font-size:16px;">Some Companies under Golyan Group</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Textile Manufacturing</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Reliance Spinning Mill</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Shivam Plastic Industries</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Tricot Industries&nbsp;</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					(Formally Makalu Cashmere)</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Himali Pashmina</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Financial Services</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;NIC Asia Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;NMB Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Nepal Life Insurance Company Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Lumbini Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Prudential Insurance Company Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">International Trade</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Atlanta Trading Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Westar Galaxy Trading Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Real Estate</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;<span class="Apple-tab-span" mce_style="white-space:pre" style="white-space: pre;"> </span>Westar Properties Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;<span class="Apple-tab-span" mce_style="white-space:pre" style="white-space: pre;"> </span>City Properties</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Management&nbsp;</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					The group employs around 7000 staff. Pawan Golyan says that none of the companies have faced labour strikes and operation has not halted even for a minute. Cordial relationship maintained with workers has prevented disputes and also helped make employees a part of the Golyan family. Fair dealing and fair treatment to employees is the principle of the group when it comes to human resource management, according to Golyan. He says that the major problem is labour shortage rather than other functional wrangling. &nbsp;</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<span style="font-size: 14px;"><strong>Hi-life on Westar Properties</strong></span></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					Westar Properties Pvt Ltd, a subsidiary of the group, founded in 2008 has been developing apartment properties with technical collaboration with Westar Properties, Dubai. According to Golyan, 212 apartments are almost ready to be handed over to their buyers. &ldquo;We have delivered better quality than what we promised. There are no other projects in my knowledge that match the quality, facilities and price of this project, even in India,&rdquo; he claims.</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					The group is planning to develop another high-end residential high-rise apartment at Soaltee Mode with premium facilities. According to Golyan, this new property will have state-of-the-art facilities including a gym, cinema hall, squash court, badminton and tennis courts, a jogging track and oxygen room among others. &nbsp;Golyan promises to complete this project by the first quarter of 2015.</p>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 Golyan Group, known to have a strong foothold in the textile industry, is planning to venture into the tourism industry of late. As a first venture into the new sector, a three star hotel is under construction at Baneshwor Height of Kathmandu. Pawan Golyan, Chairman of the group, says that the hotel will start its services within the next two years.',
			'sortorder' => '1666',
			'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 = false
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

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 &quot;&quot; [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' => '1819',
			'article_category_id' => '146',
			'title' => 'Visual Edit Vol 3 Issue 31',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Visual Edit',
			'sortorder' => '1680',
			'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' => '1818',
			'article_category_id' => '147',
			'title' => 'Nepal Leadership Summit 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepal Leadership Summit (Roadmap of Economic Revolution: Vision 2080 BS) is an appreciable step taken. It is indeed good initiation that politicians signed a 12-point declaration. But this only is not enough. Politicians should stick to their commitment and the agreement should be turned into action. I would like to congratulate and thank Birgunj Chamber of Commerce and Industries (BiCCI) and New Business Age Group for the historical endeavour. Country now has to head towards economic revolution leaving political confrontations aside. Hope the event will have a positive impact on country&rsquo;s economy. And hope it will help in the discourse of making Birgunj a major industrial hub of the country.</div>
<div>
	<strong>- Sharmila Dulal</strong></div>
<div>
	<em>Madan Bhandari Memorial College</em></div>',
			'published' => true,
			'created' => '2013-09-16',
			'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 Leadership Summit (Roadmap of Economic Revolution: Vision 2080 BS) is an appreciable step taken.',
			'sortorder' => '1679',
			'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' => '1817',
			'article_category_id' => '105',
			'title' => 'Cancel The Order',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	A restaurant from Thamel sent an order to a distributor of liquor for a large amount of goods totaling a great deal of money.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The distributor noticed that the previous bill hadn&rsquo;t been paid. The collections manager sent an email saying, &ldquo;We can&rsquo;t deliver your new order until you pay for the last one.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The next day the collections manager received a reply, &ldquo;Please cancel the order. We can&rsquo;t wait that long. &rdquo; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>-ML</strong></div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'A restaurant from Thamel sent an order to a distributor of liquor for a large amount of goods totaling a great deal of money.',
			'sortorder' => '1678',
			'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' => '1816',
			'article_category_id' => '144',
			'title' => 'End Strike To Stimulate Economy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	No-brainer that the Nepali industries, and the entire economy, bear a daily monetary loss in billions due to bandh. Nepal&rsquo;s economy, which has been suffering due to lack of security, higher interest rates, and irregular power supply and liquidity crunch, will ultimately collapse if such general strikes are frequent.</div>
<div>
	&nbsp;</div>
<div>
	The general public and the entrepreneurs feel disappointed over the major political parties who have failed to resolve the conflict through mutual talks. Unfortunately, there is no respite at sight. With the approaching Constituent Assembly election in Nepal, it is for sure that disgruntled parties will call frequent strikes to exert pressure on the government to fulfill their demands.</div>
<div>
	&nbsp;</div>
<div>
	For instance, the country witnessed two general strikes last week clearly hinting that the business fraternity will suffer more if there is not political consensus against bandh. Though there are laws that empower the local authorities to punish those who go for organised bandhs, the authorities concerned are not invoking these laws, as most of the bandhs are called for political reasons.</div>
<div>
	&nbsp;</div>
<div>
	Almost all walks of life are victimized by general strikes. Besides, business community, the daily wage earners and small scale entrepreneurs are the major victims of such strikes. The market witnesses price hike to more than triple due to short supply of vegetables, and food grains.</div>
<div>
	&nbsp;</div>
<div>
	It undermines confidence in the country&rsquo;s economy, and if we undermine confidence, we are destabilising investment. It is hitting our economy and yet this has not deterred the organizations or groups of people seeking &lsquo;justice&rsquo; from going ahead with bandh or blockade.</div>
<div>
	&nbsp;</div>
<div>
	In a democratic country, every citizen may have the rights to protest against injustices meted out to them. But at the same time it should be recognized that &lsquo;forced bandh&rsquo; violates human rights as well.</div>
<div>
	&nbsp;</div>
<div>
	In the economic realm, no more incitement to violence should be tolerated if we want prosperity in the country. The entrepreneurs have long been appealing the political parties to resolve the issue through dialogue as soon as possible. Nepal should be a bandh free zone, if we want double digit growth. Investors will shy away if there is frequent bandh in the country. There is an urgency to rethink the existing culture of bandh by the political parties.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'No-brainer that the Nepali industries, and the entire economy, bear a daily monetary loss in billions due to bandh. Nepal’s economy, which has been suffering due to lack of security, higher interest rates, and irregular power supply and liquidity crunch, will ultimately collapse if such general strikes are frequent.',
			'sortorder' => '1677',
			'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' => '1815',
			'article_category_id' => '145',
			'title' => 'Problems In Mutual Funds',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;">The third edition of Money Expo for the year 2013 will take place in the Capital from October 31 to November 2. Being the largest finance and investment show in Nepal, the expo will focus on the promotion of investment opportunities and wealth protection strategies. In the expo, a separate interaction entitled &lsquo;Mutual Fund: Another Attraction of Investment&rsquo; will be organized. New Business Age recently conducted a discussion on the same issue and experts presented their opinions.<strong> Excerpts:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Niraj Giri Spokesperson, Sebon" src="/userfiles/images/ng.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 187px;" />Niraj Giri </strong></span></div>
<div>
	<span style="font-size:14px;">Spokesperson, Sebon</span></div>
<div>
	&bull;Financial literacy is crucial for the expansion of mutual funds. Literacy is necessary for policy makers as well as investors.&nbsp;</div>
<div>
	&bull;The Mutual Funds have been established to develop and expand share markets in the country. The fund is aimed at reducing the problem of institutional investment in the share market. This may also help expand the stock market.</div>
<div>
	&bull;Even investors should put forth their initiatives for financial literacy. In &nbsp;developed countries, investors are more proactive than the regulator in initiating financial literacy programmes.&nbsp;</div>
<div>
	&bull;Our market is completely focused in Kathmandu which is another stumbling block for mutual funds.</div>
<div>
	&bull;Absence of an independent mechanism to fix the price of securities is another problem.</div>
<div>
	&bull;Citizen Investment Trust (CIT) has been failing to work in line with its objective. We have to develop it as a market maker.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Pravin Raman Parajuli  CEO, Nabil Investment Banking Ltd " src="/userfiles/images/prp.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 187px;" />Pravin Raman Parajuli </strong></span></div>
<div>
	<span style="font-size:14px;">CEO, Nabil Investment Banking Ltd&nbsp;</span></div>
<div>
	&bull;We have equal opportunities in mutual funds. However, managing the fund is indeed a challenging job.&nbsp;</div>
<div>
	&bull;A mutual fund plays a key role in providing security to its unit holders. That is why it should not be restricted to buy and sell shares.</div>
<div>
	&bull;We have 21,000 investors associated with our group. Most of them are grass root investors. We have also found that some of them are investing assuming mutual funds as IPOs.</div>
<div>
	&bull;Worldwide practice in mutual funds involves professional investment management and risk diversification. But the big question now is: have we been able to diversify risks? There have been some problems due to market limitations. Our market is full of banks and financial sectors. If we have to diversify our investment in the future, there seems to be no place for it.</div>
<div>
	&bull;Investors should also think about where they should invest next and what would be its risks and consequences.</div>
<div>
	&bull;We have to think about long term consequences rather than temporary ones.</div>
<div>
	&bull;We have to think about bringing real sector companies into the public for market diversification.</div>
<div>
	&bull;The nation should also take steps on awareness on mutual funds.</div>
<div>
	&bull;Stock availability is another problem. Out of total listed shares, only 8-10 per cent are available for trade.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Narayan Prasad Ghimire Chief, Share Division, Citizen Investment Trust " src="/userfiles/images/npg.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 188px;" />Narayan Prasad Ghimire</span></strong></div>
<div>
	<span style="font-size:14px;">Chief, Share Division, Citizen Investment Trust&nbsp;</span></div>
<div>
	&bull;The Mutual Fund is a good option from a profit-making perspective because it has fewer risks.</div>
<div>
	&bull;Interest on mutual funds is declining because of the government&rsquo;s policies regarding mutual funds. We had requested the government for exemption of income tax on at least Rs 50,000 of the total income of investors. But that could not be addressed in the budget, which has discouraged investors.</div>
<div>
	&bull;Because of less profit on mutual funds, people prefer direct personal investments instead.</div>
<div>
	&bull;The main problem of mutual fund is that most people lack knowledge about it. People who are aware are not interested in investing. That is why, despite the ability to invest, participation has not increased.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Shreejesh Ghimire CEO, NMB Capital" src="/userfiles/images/sg(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 188px;" />Shreejesh Ghimire</span></strong></div>
<div>
	<span style="font-size:14px;">CEO, NMB Capital&nbsp;</span></div>
<div>
	&bull;The demand of the mutual fund is very high in other countries but in the context of Nepal, demand is declining in spite of the progress the fund has made. This is the result of lack of awareness. The government made the policy but did not help further. The regulatory body SEBON, too, did not address the problem in time.</div>
<div>
	&bull;People are not aware of the benefits of investing on mutual funds. The main problem is market awareness which is very low. All stakeholders should work on raising awareness among people.</div>
<div>
	&bull;Lack of far sightedness in investors is another problem. Investors expect to double their amount invested in IPO. And if the company does not give result in four months, they believe it to be a bad company. As mutual funds&rsquo; plan is of five years, at least a year should be given before making any comments.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Dhruba Timalsina CEO, Siddhartha Mutual Fund" src="/userfiles/images/dt.jpg" style="
float: left; margin: 0px 10px 0px 0px;height: 186px; width: 150px;" />Dhruba Timalsina</span></strong></div>
<div>
	<span style="font-size:14px;">CEO, Siddhartha Mutual Fund</span></div>
<div>
	Rumours often create problems for mutual funds. &nbsp;For example, some vested interest people sometimes try to reduce share price of a certain company by creating a rumour.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The mutual fund is given priority while issuing new shares. The general public thinks that the fund manager will get undue profit from such arrangement. It is a big misconception. The profit and advantage of the fund is not for the fund manager but for investors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I have seen financial illiteracy among investors as another big problem. They look forward to share prices rather than the overall returns.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Central Depository System (CDS) has not been working fully. Tasks have not been performed yet in shares dematerialisation. &nbsp;Given that investors outside the valley do not have access to opportunities, it is necessary to make CDS work fully.</div>
<div>
	&nbsp;</div>
<div>
	It is also necessary to make it clear that mutual funds are different from market makers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Uddhab Shivakoti Share Investor" src="/userfiles/images/us.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 150px; height: 190px;" />Uddhab Shivakoti</span></strong></div>
<div>
	<span style="font-size:14px;">Share Investor</span></div>
<div>
	Mutual funds have failed to work as market makers. &nbsp;As they have failed to work as market makers, it shows that there is no difference between collective fund investors and mutual funds. &nbsp;When the market declined, mutual funds could have played a role to increase demand. Similarly, it can help in meeting demand if the market is booming. But such things have not happened.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	If we observe the portfolio of the mutual funds, we can find that the investment has not been&nbsp;</div>
<div>
	done sincerely.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-10-01',
			'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 third edition of Money Expo for the year 2013 will take place in the Capital from October 31 to November 2. Being the largest finance and investment show in Nepal, the expo will focus on the promotion of investment opportunities and wealth protection strategies.',
			'sortorder' => '1676',
			'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' => '1814',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (16-22 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Indian Foreign Secy calls on Prez Yadav, Chairman Regmi</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/ind(1).jpg" style="width: 500px; height: 213px;" /></div>
<div>
	&nbsp;</div>
<div>
	In her two-day visit to Nepal, India&rsquo;s Foreign Secretary Sujatha Singh called on President Dr Ram Baran Yadav and Interim Election Council Chairman Khil Raj Regmi separately last Sunday at the official presidential residence to discuss bilateral relations, expansion of mutual cooperation and the contemporary situation of Nepal.At the meeting with Chairman Regmi at Singhadurbar, Singh expressed her hope that the Constituent Assembly polls will be held on the scheduled date of November 19. &ldquo;The Government of India is ready to provide all kinds of assistance to that end,&rdquo; she reportedly said. Singh, who had arrived in Nepal last Saturday after being appointed as Foreign Secretary of the Government of India, also met with Nepali Congress president Sushil Koirala and CPN (UML) chairperson Jhalanath Khanal the same day. Senior officers at the Foreign Ministry, Indian Ambassador to Nepal Ranjit Rae and senior officers of the Indian Embassy were present in both meetings.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Europe Condemns Thursday Bandh&nbsp;</strong></span></div>
<div>
	The European Union (EU) and other countries have condemned the bandh enforced by the CPN-Maoist-led 33-party alliance last Thursday. Releasing a communiqu&eacute;, ambassadors of the European Union (Denmark, Finland, France, Germany, the UK and the EU Delegation), Norway and Switzerland deplored the bandha. Stating that a bandh undermine their joint development efforts and Nepal&rsquo;s investment, the ambassadors have asked all those who aspire to lead this nation to renounce the use of bandhs in the interest of the people. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Ready for Polls if Regmi Quits CJ Post: Gurung</strong></span></div>
<div>
	CPN-Maoist secretary Dev Gurung said they were ready to participate in the upcoming Constituent Assembly election process if the Chairman of the Interim Election Council, Khil Raj Regmi, quits the post of Chief Justice. Speaking at a programme in the capital last Thursday, Secretary Gurung claimed the current political crisis will end if Regmi tenders his resignation from the Chief Justice.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gorkha&rsquo;s Right Holders to Go to Fujel</strong></span></div>
<div>
	Human rights activists in Gorkha planned to assess the situation of Fujel VDC in a bid to rehabilitate Nanda Prashad Adhikari and Gangamaya Adhikari, who broke their hunger strike recently. The meeting of nine human rights organisations active in Gorkha held last Monday (September 9) decided to visit the Adhikari couple in Fujel VDC, ward no. 7, Chamati to assess the situation of the couple&rsquo;s rehabilitation. The couple last week had broken their indefinite hunger strike at Bir Hospital in Kathmandu following a three-point agreement with the government.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Singer Phatteman Passes Away</strong></span></div>
<div>
	<img alt="" src="/userfiles/images/sf.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 115px; height: 127px;" />Senior singer and musician Phatteman Rajbhandari passed away at the age of 77 last Tuesday while receiving treatment for lung cancer at Om Hospital, Chabahil in Kathmandu. An accomplished singer and musician, Phatteman has lent his voice to and composed music in more than 400 songs and devotional hymns. &nbsp;His last rites were performed at the Pashupati Aryaghat the same day as per Hindu rituals. Chairman of the Council of Ministers Khil Raj Regmi, political leaders, as well as a large number of people from different walks of life went to Pashupati to pay their last respects to the late singer. &nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 her two-day visit to Nepal, India’s Foreign Secretary Sujatha Singh called on President Dr Ram Baran Yadav and Interim Election Council Chairman Khil Raj Regmi separately last Sunday at the official presidential residence to discuss bilateral relations, expansion of mutual cooperation and the contemporary situation of Nepal.',
			'sortorder' => '1675',
			'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' => '1813',
			'article_category_id' => '142',
			'title' => 'Poll Update (16 - 22 September 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="Chief Election Officer Neel Kantha Uprety" src="/userfiles/images/1(3).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 106px;" />&ldquo;Finalise the number of CA seats&rdquo;</span></strong></div>
<div>
	Chief Election Officer Neel Kantha Uprety urged leaders of major parties to finalize the number of seats for the Constituent Assembly at the earliest. Speaking at a programme in the capital last Wednesday, he said that finalizing the number of seats would ease the election process for the Election Commission.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Surya Bahadur Thapa" src="/userfiles/images/2(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 111px;" />RPP Pushes for CPN-Maoist in Polls</strong></span></div>
<div>
	Election of the Constituent Assembly without the participation of the CPN-Maoist would render the process incomplete, said Rastriya Prajatantra Party (RPP) chairperson Surya Bahadur Thapa. Speaking at a press conference in Biratnagar last Thursday, Chairman Thapa advised the government and the major political parties to hold a decisive talk to bring the 33 party-alliance led by CPN-Maoist into the election process.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Kedarnath Upadhyay " src="/userfiles/images/3(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 114px;" />NHRC Ruling Against Children Use in CA Polls</strong></span></div>
<div>
	National Human Rights Commission Chairperson Kedarnath Upadhyay has urged political parties to not use children in the upcoming Constituent Assembly elections. Speaking at a function to sign an agreement with UNICEF on child rights promotion and advocacy project last Wednesday, Upadhyay said the NHRC will be more vigilant against using children.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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' => '',
			'sortorder' => '1674',
			'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' => '1812',
			'article_category_id' => '196',
			'title' => 'Weekly Roundup (9 - 15 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<ul>
	<li>
		The 12-point Birgunj Declaration that emerged from the Nepal Leadership Summit 2070 organised by New Business Age Pvt Ltd and Birgunj Chamber of Commerce and Industries on September 4 in Birgunj continues to draw the attention of the government, political parties and the business fraternity. Terming the declaration as a benchmark for setting government policies, Finance Minister Shankar Koirala said the consensus reached during the programme among former prime ministers to make the economy a common agenda would help the government create an investment- friendly environment in the country if implemented.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Despite CPN-Maoist&rsquo;s positive signal to join the poll process bringing a sigh of relief to the business community that has been reeling under political uncertainty, the bandh enforced by the party last Thursday caused significant loss in the economic sector. Factories were once again shut down, vehicles remained off the roads, businesses closed down and shops were shuttered.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		The debt-ridden Nepal Oil Corporation&rsquo;s decision to hike the price of petroleum products riled the student unions, airlines operators and the general public. The NOC decided to increase the price of petrol by Rs 5, kerosene by Rs 3 and aviation fuel by Rs 7 per litre. The NOC said it was compelled to hike the price following the price rise in the international market. The state-owned entity hiked the price for the second time after the formation of the Khil Raj Regmi-led government. The rise in price of petroleum products has once again initiated debates on automatic price fixation and the state&rsquo;s monopoly in the trading of petroleum products.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		The over-subscription for the reverse repo held by the Nepal Rastra Bank (NRB) indicates that the banking system is sitting on a huge cash deposits. Estimates put this at Rs 60 billion, and it is feared that it pose a high risk of liquidity-induced inflation during the forthcoming festive seasons. According to the NRB, it has received the bid from BFIs worth Rs 42 billion last week for the reverse repo issued by NRB worth Rs 10 billion. The NRB had issued the reverse repo in the previous week worth Rs 5 billion for the first time in three years and received a bid worth Rs 30 billion at that time. Lax credit demand, a rising flow of remittance and low investment from investors stalled in a wait-and-watch mood are the reasons behind the excess liquidity in the banking system.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Data shows that the domestic currency that has witnessed rapid devaluation in comparison to the US dollar in the last few weeks became slightly stronger last week. The Nepali Rupee was traded at Rs 101.71 per US dollar last Saturday, while it was traded at Rs 104.20 per US dollar on the same day of the previous week. As the Nepali currency against the US dollar rose slightly, the price of gold became relatively cheaper last week. &nbsp;The price of the precious yellow metal went down by Rs 3000 in a week trading at Rs 47,840 per 10 grams last Friday. The price on the same day of the previous week was Rs 50840 per 10 grams. Meanwhile, the government hiked the import duty of gold last Friday by 44 per cent. Duty price of the bullion has now reached Rs 5000 per 10 gram.</li>
</ul>
<div>
	&nbsp;</div>
<ul>
	<li>
		Data from the Department of Food Technology and Quality Control (DFTQC) revealed that adulteration in edible products has reached an average of 20 per cent, thanks to the government&rsquo;s apathy towards monitoring the market. Releasing the data, the Director General of the DFTQC rued the lack of strong laws to take stern action against adulterers. According to the department, adulteration ranging from 3 to 31 per cent of total content was found mostly in the bottled water, milk, oil and other consumable goods.</li>
</ul>',
			'published' => true,
			'created' => '2013-09-16',
			'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 12-point Birgunj Declaration that emerged from the Nepal Leadership Summit 2070 organised by New Business Age Pvt Ltd and Birgunj Chamber of Commerce and Industries on September 4 in Birgunj continues to draw the attention of the government, political parties and the business fraternity.',
			'sortorder' => '1673',
			'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' => '1811',
			'article_category_id' => '140',
			'title' => 'CPN-Maoist ‘Positive’ On Contesting CA Polls',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	In what appears to be a major shift from its previous intransigent stance to totally boycott the Constituent Assembly elections, the agitating CPN-Maoist party last week demonstrated flexibility to participate in the election process.</div>
<div>
	&nbsp;</div>
<div>
	CPN-Maoist, which had endorsed a strategy to disrupt the CA polls through its central committee meeting held in June 30 in Pokhara, expressed its commitment to join the election process if its demands, including the polls deferral for April, are met.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	During an all-party-meeting organized by President Dr Ram Baran Yadav at the Presidential Palace Shital Niwas last Friday, the poll-opposing party CPN-Maoist floated its four-point proposal as a way-out to the current political impasse.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The four-point proposal comprises convening a Round-Table-Conference (RTC) to make decisions on the basis of consensus, dissolution of the Khil Raj Regmi-led government to form all-party-government, or Regmi&rsquo;s resignation from the post of Chief Justice, and deferring CA polls for four months.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the parties representing the High Level Political Committee rejected outright the CPN-Maoist call for deferring polls, they have termed the proposal as positive and as an indication of the latter&rsquo;s willingness to come on board the election process.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	UCPN (Maoist) leader Narayan Kaji Shrestha informed the media that the CPN-Maoist chairperson Mohan Baidya requested President Yadav and leaders of other parties to not cast any doubt over his party&rsquo;s intentions to contest in the CA polls. &ldquo;We are ready to join the poll process,&rdquo; Shrestha quoted Baidya as saying.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Emerging from the meeting, coordinator of the HLPC and president of the Nepali Congress Sushil Koirala told the media: &ldquo;Discussions are heading towards a positive direction, but the election cannot be postponed to April as demanded by the CPN-Maoist.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Echoing the views of HLPC coordinator Koirala, CPN (UML) Chairman Jhalnath Khanal said, &ldquo;Among four, only two proposals of the CPN-Maoist are positive.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	CPN-Maoist Secretary Dev Gurung said that other parties have taken positively to the proposal floated by his party.</div>
<div>
	&nbsp;</div>
<div>
	The all-party-meeting has resumed again at the Presidential Palace Shital Niwas when this paper went to print on Sunday (September 15) regarding the four-point proposal of the CPN-Maoist.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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 major shift from its previous intransigent stance to totally boycott the Constituent Assembly elections, the agitating CPN-Maoist party last week demonstrated flexibility to participate in the election process.',
			'sortorder' => '1672',
			'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' => '1810',
			'article_category_id' => '139',
			'title' => 'Nepal And The World Brief (16 - 22 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Obama to Nominate Summers as Fed Chief&nbsp;</strong></span></div>
<div>
	US &nbsp;President Barack Obama will name former Treasury Secretary Lawrence &ldquo;Larry&rdquo; Summers as chairman of the Federal Reserve Board,Japan&rsquo;s Nikkei newspaper said on Friday. The newspaper, quoting unnamed sources, said that Obama was &ldquo;in the final stages&rdquo; and moving toward naming Summers. Debate in Washington has focused on whether Obama will pick Summers or Fed Vice Chair Janet Yellen to succeed Ben Bernanke, whose term as head of the U.S. central bank expires in January.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Growth in G-20 Countries Accelerates</strong></span></div>
<div>
	Growth in the Group of 20 emerging and advanced economies accelerated in the second quarter of this year to 0.9 percent from 0.6 percent in the previous three month period, the OECD said last Thursday. Most G20 members saw growth pick up momentum in April through May, with Turkey posting the highest quarter-on-quarter expansion of 2.1 percent, said the Organisation for Economic Cooperation and Development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>China&rsquo;s New Richest Man Worth $22 bn</strong></span></div>
<div>
	China&rsquo;s new richest man -- real estate and hotel king Wang Jianlin -- is now worth $22 billion, up from $10.3 billion in 2012, according to the latest Wealth Report from the Hurun Research Institute and marketing firm GroupM Knowledge. Wang easily ousted China&rsquo;s former No. 1, Zong Qinghou, who is now No. 2 with a net worth of $18.7 billion.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Plan for EU Financial Tax Found to be Illegal</strong></span></div>
<div>
	Legal advisers have cautioned 11 EU Governments that a proposal they are considering for a tax on financial transactions is illegal. The legal service that advises EU member states found that the suggested approach on which companies should be taxed is &ldquo;discriminatory,&rdquo; will probably distort competition, violates EU law and &ldquo;exceeds member states&rsquo; jurisdiction for taxation,&rdquo; according to a copy of the opinion published last week.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australian Unemployment Highest in 4 Years</strong></span></div>
<div>
	&nbsp;Australia&rsquo;s jobless rate edged up to 5.8 percent in August, a level not seen since the global financial crisis, with the sluggish economy shedding 10,800 jobs as the mining investment boom unwinds. &nbsp;The Australian Bureau of Statistics said the seasonally adjusted rate -- up from 5.7 percent in July -- the highest since August 2009.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => '',
			'sortorder' => '1671',
			'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' => '1809',
			'article_category_id' => '161',
			'title' => '‘Radio Easily Delivers Information About Development, Diversity And Democracy’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><img alt="Upendra Aryal " src="/userfiles/images/idp.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 221px;" />Equal Access Nepal, the Nepal wing of the Equal Access International, has been working on a wide range of developmental issues and themed radio programmes &mdash; aiming for a social change since 2004. Equal Access Nepal&rsquo;s Acting Executive Director Upendra Aryal spoke to Sanjeev Sharma of The Corporate about the organisation&rsquo;s initiatives. <strong>Excerpts :</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of Equal Access in Nepal?</strong></span></div>
<div>
	We are currently working in media development and behaviour change communication. &nbsp;We have been trying to reach out to the audience of different classes, ages, and communities through radio. I feel that radio is the most effective medium because of its easy accessibility and the broadcast could reach the remotest parts of the country. We have been working in various sectors such as family health care, maternal health, child care, family planning, Early Grade Reading (EGR), Early Childhood Development (ECD), primary education, community empowerment, youth and teenage problems etc. We are also focused on the political issues through our radio programmes.</div>
<div>
	&nbsp;</div>
<div>
	Nepal is witnessing a remarkable growth in the radio broadcast sector. The liberal media policies endorsed by the government (after the democratic change) have helped the broadcast sector to flourish in this country. However, there are some issues concerning the quality of the radio programmes. A successful radio presentation is combined with the good quality of mixing, scripting, innovative formatting and various other aspects of post-production.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the core working areas of Equal Access in Nepal?</strong></span></div>
<div>
	We are working in health, education, political, constitutional segment and youth-oriented programmes. The programmes are focused on media education, gender issues, constitution drafting process, good governance etc. One can listen to such content in the widely listened radio programme known as &ldquo;Naya Nepal&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, Mamata (maternal health), Deshpardesh (cross border content, which include health issues), &lsquo;Saathi Sanga Maan Ka Kura&rsquo; (sharing thoughts with friends) are our popular radio programmes focused on various health and peer pressure issues. Likewise, &lsquo;Samajdari&rsquo;, a series on spouse communication and &lsquo;Kaam ka Kura&rsquo; (based youth employment issues) are also widely listened. Equal access&rsquo;s contents are taken as meaningful and useful. Through these programmes, we are reaching nearly to 12.5 million listeners across the country.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How can we utilize radio as means of development?</strong></span></div>
<div>
	Radio has evolved as one of the most effective means of development. We are using radio as a tool to facilitate the dialogue and conversation about sustainable development. On an average, the Nepali radio stations are broadcasting for 18 hours a day reaching across all the corners of country. This shows that the radio penetration can be of great help to deliver the messages quickly. Radio broadcast is also interlinked with issues in various cultural or linguistic diversities and democracy. We can take radio as a &lsquo;3D&rsquo; medium because it helps to deliver messages and information about issues related to development, diversity and democracy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of radio in promoting micro-entrepreneurship?</strong></span></div>
<div>
	Micro-entrepreneurship is so far concerned with the income generation, village banking, micro-credit and ultimately the economic empowerment of underprivileged people. Radio stations across the country are broadcasting various programmes on micro-financing and livelihood solutions. However, radio can&rsquo;t be taken as an effective medium for income generation training purposes. For example, a website can better explain farmers about the farming techniques with illustrations and pictures which radio is unable to explain. But we can integrate the radio programmes and suggest the farmers about the links to such websites.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Equal Access Nepal has been emphasizing the use of technology to deliver information to the general public?&nbsp;</strong></span></div>
<div>
	Information technology has helped us a lot. For instance, different communities can share their messages through our websites. It can encourage citizen journalism as well. We operate some blog sites such as www.meroreport.net and www.mediamanch.net to facilitate citizen journalism across the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, we also offer free SMS service which is integrated to the above mentioned websites. The websites include interactive voice recording system that enables to convert recorded voice into text format. This is providing interactive platform to share messages where others can also give opinions on various issues.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What is the role of Nepali media in terms of economic and social development of the country?</strong></span></div>
<div>
	Nepali media sector is vibrant. Though they mostly cover political issues but economic, social and environmental affairs are also given ample space in the newspapers, television, radios and websites. Nepal media are disseminating information of nearly all the sectors. We can take examples of some successful publications. In my opinion the &lsquo;Shikshyak&rsquo; magazine is a very good example which is providing valuable information on education and development. Though we still lack thoughtful journalism, Nepali media sector has been its role positively in socio-economic development of the country.&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Equal Access Nepal, the Nepal wing of the Equal Access International, has been working on a wide range of developmental issues and themed radio programmes — aiming for a social change since 2004.',
			'sortorder' => '1670',
			'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' => '1808',
			'article_category_id' => '137',
			'title' => 'China Becomes World’s Third Largest Investor After US, Japan',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China has emerged as the world&rsquo;s third largest investor as Foreign Direct Investment (FDI) from the giant jumped by 17.6 percent last year defying a global pattern. China&rsquo;s outbound FDI rose 17.6 percent year-on-year in 2012 to a record high of USD 87.8 billion, according to the 2012 Statistical Bulletin of China&rsquo;s Outward Foreign Direct Investment (ODI) by the Ministry of Commerce. Even as global ODI slid 17 percent last year amid uncertainties facing the world economy, China is now world&rsquo;s third-largest investor, following the United States and Japan, for the first time since the country began to release the data a decade ago.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China currently holds about USD 3.30 trillion foreign exchange reserves. About USD 1.20 trillion is invested in US bonds. China was world&rsquo;s sixth-largest investor in 2011, with an ODI flow of USD 74.65 billion. Last year&rsquo;s increase represented an acceleration from 8.5 per cent in 2011, when the global economic recovery was weak in the face of continuing financial turmoil in Europe and the United States. &ldquo;The Chinese government introduced measures to encourage outbound direct investment in pursuit of the &lsquo;going abroad&rsquo; strategy, and the country&rsquo;s outward FDI maintained robust growth in recent years,&rdquo; &nbsp;said Zhou Zhencheng, commercial counselor of the department of outward investment and economic cooperation of the Ministry of Commerce. Huo Jianguo, president of the Chinese Academy of International Trade and Economic Cooperation, was quoted by the state-run China Daily as saying that the surge in ODI was mainly driven by domestic enterprises eager to tap overseas markets and profit from using global resources. &ldquo;Debt crises and slowing growth in developed economies opened up great opportunities for Chinese enterprises to invest abroad, and the renminbi&rsquo;s appreciation helped the process,&rdquo; Huo said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	China&rsquo;s non-financial ODI went up 13.3 per cent last year to USD 77.73 billion, accounting for 88.5 per cent of the total. Financial ODI surged 65.9 per cent to USD 10.07 billion, the bulletin said. Investment in US jumped 123.5 per cent to USD 4.05 billion, making it the second-largest destination for China&rsquo;s ODI, the report said. Total ODI to developed economies was around USD 13.51 billion. Chinese investors have established about 22,000 overseas enterprises in 179 countries and regions, &ldquo;and about 79.2 per cent of them made profits or maintained a balance&rdquo;, Zhou said. He warned that Chinese enterprises are facing rising risks and challenges, including political unrest in Africa and Southeast Asia. Other challenges include increasing competition from developed economies and restrictions in those markets.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<span style="font-size:14px;"><strong>Chinese Investment in Nepal Rising</strong></span></p>
</div>
<div>
	The northern neighbour has been gradually increasing its investments in Nepal. According to Nepal government&rsquo;s latest data, in the fiscal year 2012/13, China committed highest foreign direct investment (FDI) in Nepal surpassing India. In the last FY China alone accounted for 30.89 percent of the total amount of the FDI commitment in Nepal. The data showed that Nepal has received Rs 19.39 billion worth of Chinese FDI against Rs 11.49 billion in the previous FY. In FY 2011/12, China stood second in terms of investments in the country after India.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the last FY, investors from mainland China and Hong Kong registered 96 and four investment projects respectively. The investment projects mainly include medium and small businesses such as hotels, restaurants, travel agencies, handicrafts, fisheries and agricultural industries. However, Chinese investors are also pouring their investments in big infrastructure projects of Nepal. Sinohydro Resources Ltd, a Chinese multinational giant has invested in the 50 megawatts Upper Marsyangdi &lsquo;A&rsquo; hydropower project, which is under construction. Similarly, Sinohydro and other Chinese contractors are also developing major Nepali hydel projects such as the 456 MW Upper Tamakoshi, 30 MW Chamelia, 14 MW Kulekhani-3.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-23',
			'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' => 'China has emerged as the world’s third largest investor as Foreign Direct Investment (FDI) from the giant jumped by 17.6 percent last year defying a global pattern.',
			'sortorder' => '1669',
			'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' => '1807',
			'article_category_id' => '135',
			'title' => '‘Nepal Should Wait And Watch’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">The pinch of continued depreciation of the nepali rupee is hurting nepali economy. This has renewed the debate &nbsp;on nepal&rsquo;s currency policy: &nbsp;whether to leave the Nepali currency pegged on the Indian Rupee, or to just devalue it to reflect the current realities asNepal imports most of the daily necessites and industria raw material and the exportable surplus is very low.The Corporate Weekly this week spoke to economists to gather their views on the debate. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Prof Dr Navaraj Kandel" src="/userfiles/images/nd.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 146px;" />Prof Dr Navaraj Kandel</span></strong></div>
<div>
	<span style="font-size:14px;">Central Department of Economics, Tribhuvan University</span></div>
<div>
	The most prominent impact of the increasing value of the US dollar against the Rupee would be a sharp rise in the price of imported goods. The tendency of businessmen in countries like Nepal is to increase the prices when the value of dollar rises but to make very small reduction in prices when the dollar devaluates. This leaves the consumer victimized. Therefore, it is better to leave our currency pegged as we import most products from India and this pegged policy gives us a very stable market.</div>
<div>
	&nbsp; &nbsp;&nbsp;</div>
<div>
	<span style="font-size:14px;"><img alt="Prithvi Raj Ligal" src="/userfiles/images/prl.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 141px;" /><strong>Prithvi Raj Ligal</strong></span></div>
<div>
	<span style="font-size:14px;">Former Vice-Chairman, National planning commission</span></div>
<div>
	Nepal has deeply rooted economic relations with India and has pegged its currency with India&rsquo;s so that there is stability in the currency. The peg to maintain smooth trade and commercial relations with the world at large. Despite many informal trade relations with India, our market remains stable thanks to the peg. However, according to the IMF, in comparison to the Indian currency in the past 3-4 years, the Nepali Rupee has devaluated by 15 per cent. Therefore, these policies have to be evaluated by comparing both countries&rsquo; currency values. However, the consistent devaluation of the Indian Rupee is definitely making market prices unstable, as businessmen have &nbsp;started setting prices of the imported goods according to their own forecasts of currency values in the immediate future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Deependra Bahadur Kshetry" src="/userfiles/images/dbk.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 125px; height: 151px;" />Deependra Bahadur Kshetry</span></strong></div>
<div>
	<span style="font-size:14px;">Former governor, Nepal Rastra Ban</span>k</div>
<div>
	It should not be debated whether the currency has to be pegged or not. The debate, rather, should be about how to avoid such devaluation. Since Nepal Rastra Bank has already made it clear that it will not remove the peg, and since our economy is very fragile at this point, the country might face a great inflation if we remove the peg abruptly. The Indian economy has been working a lot to unwind this devaluation, therefore we will have to wait and watch till there is certain level of stability in the Indian Rupee. We should also try and increase our foreign currency reserve. If that is not possible we should try to maintain it at the current level.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 pinch of continued depreciation of the nepali rupee is hurting nepali economy. This has renewed the debate  on nepal’s currency policy:  whether to leave the Nepali currency pegged on the Indian Rupee,',
			'sortorder' => '1668',
			'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' => '1806',
			'article_category_id' => '134',
			'title' => '‘Nepal Needs Urgent Reforms, Not Tourism Year Gimmick’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="Raja Ram Giri," src="/userfiles/images/iv.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 221px;" />Raja Ram Giri</strong>, an NRN based in London, is Director of Samsara Nepal Financial Services Ltd, the first money transfer company in the UK to be owned by a Nepali. He is also the Managing Editor and Publisher of Himalayas magazine, an annual publication that promotes Nepali tourism in the UK and Europe. Giri spoke to Britant Khanal of The Corporate Weekly about the performance of his businesses in the UK.<strong> Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the concept behind launching a magazine like Himalayas in the UK? Who are its readers and what has been the response thus far? &nbsp;&nbsp;</strong></div>
<div>
	This magazine was not the reason why I went to UK. Initially, I wanted to study Information Technology. I was studying at a university where there were no students from our side of the world which made me feel very alien. One day a professor told me that he had been to my country. But when he described what he saw, I realized he was talking about Darjeeling, not Nepal. That was when I quit IT and shifted to Tourism Studies and planned to do something that would make the world recognize my country. So, this magazine was an outcome of my ego and pride. It has been doing a decent job in making our country known in London and many parts of Europe. &nbsp; &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What has your role been so far in promoting Nepali Tourism to the rest of the world?</strong></div>
<div>
	When I started studying tourism, Nepal was celebrating the Visit Nepal Year 1998. &nbsp;Since the country was celebrating a national festival, I thought of doing something along the same lines, and then contacted the Nepali embassy in the UK. With their help, I held a small cultural programme at my college in front of almost 1,300 students explaining what Nepal is and what it looks like. The programme was very much appreciated. Since then, I have been doing the same job trying to tell people how beautiful my country is and taking pride in it. &nbsp; &nbsp; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are some tangible hindrances seen in promoting Nepali tourism to the rest of the world?</strong></div>
<div>
	What our politicians have to understand is that declaring a tourism year will not bring tourists. They will have to work on tourism policies to attract tourists instead of showering flowers from helicopters on the day of declaration and spending millions on inaugurals. They will have to explain to tourists what Nepal looks like and what our culture is. They could have come with cultural programmes in famous places of different cities like the Trafalgar Square, London or may be some place in New York, too. Another basic obstruction is transportation - the Government of Nepal has not been able to provide sufficient number of flights of the Nepali airlines to and from tourist originating areas.</div>
<div>
	&nbsp;</div>
<div>
	<strong>You are also associated with the Kathmandu-Kulekhani-Hetauda Tunnel Road. Could you tell us a little about that?</strong></div>
<div>
	We have been working on the Kathmandu-Kulekhani-Hetauda tunnel road and it is one of the first private sector initiatives in structural design and work. This project seems very promising for transportation. It will assist in the smooth functioning of business and economy. This project also hopes to bring a lot of investments from Samsara UK and a lot from non-resident Nepalis living in UK. There are reasons why these kinds of project are not pacing up in our country. For one, we are still using the traditional way of construction. We still see workers using hammers on the road whereas technology around the globe has taken a leap ahead. Therefore, we are working hand-in-hand with other domestic companies to bring required changes in infrastructure to speed up the pace of work.</div>
<div>
	&nbsp;</div>
<div>
	<strong>You own a company called &lsquo;Samsara Nepal&rsquo; in the UK. What is the function of this company and what are your future plans for Nepal?</strong></div>
<div>
	Samsara Nepal is basically a company for remittance. This company too was an outcome of an incident. I was working in some other company back then in the UK and had sent some money back home which unfortunately went to Mumbai because the company I sent the money through thought Kathmandu was in India, and had written KTM India in the address. The money went to an Indian branch which was in Mumbai. Later, I filed a complaint and resent the money.</div>
<div>
	&nbsp;</div>
<div>
	Sixteen years back, when I first went to the UK, there were no proper and reliable remittance companies to send money through. There was an informal money sending mechanism popularly known as the Hundi system of which the government has no record of. Therefore, we came up with an idea of setting up a company which would provide a safe way to send money back home. We have now been working with Sunrise Bank, Himalayan Bank and Standard Chartered Bank in sending hard earned remittances back home. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Besides sending money from London to Nepal, this company also wants to promote our national economy. Samasara Nepal wants to suggest the government to impose a certain level of taxes on the remittance which immigrants could use after returning back to the country. This would benefit the individual and the nation overall, because while an amount approximately equal to 27 per cent of Nepal&rsquo;s GDP comes in as remittance, it has not been invested in a productive sector as far as I know. The government should focus on capitalizing on remittance by investing it in productive sectors.</div>',
			'published' => true,
			'created' => '2013-09-16',
			'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' => 'Raja Ram Giri, an NRN based in London, is Director of Samsara Nepal Financial Services Ltd, the first money transfer company in the UK to be owned by a Nepali. He is also the Managing Editor and Publisher of Himalayas magazine, an annual publication that promotes Nepali tourism in the UK and Europe. Giri spoke to Britant Khanal of The Corporate Weekly about the performance of his businesses in the UK.',
			'sortorder' => '1667',
			'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' => '1805',
			'article_category_id' => '122',
			'title' => 'Golyan Group: Looking Beyond Textiles',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	New Model of CSR: Social Enterprise</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Pawan Golyan, Chairman of Golyan Group is dedicated to Corporate Social Responsibility (CSR) and treats his CSR projects as invaluable business ventures. He has adopted two villages in Kailali district and is working for enhancing the livelihood of local people by providing opportunities for sustainable source of income. These two villages have around 340 households with a total population of nearly 1500 people.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Nauniya, a village Golyan adopted has a majority of settlements of mukta kamaiya (freed bonded labours). &nbsp;Each household owns a small piece of land provided by the government and a house to live in, built by a donor agency. Golyan says that the male members of the community have been making their living by migrating to India after completing rice cultivation while women are mostly unemployed.&nbsp;</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Golyan helped install boring pumps for irrigation in the village. Similarly, he also established a training school targeting young women to train them in sewing and knitting. He says the first batch has completed the course and soon will find jobs within the locality. Golyan has also set up a tapari (plate made of leaves) factory. He has not only made investments but has also been managing the manufacturing unit. So far, the company has installed five machines for producing taparis and plans to increase to 30 machines. &ldquo;Then the factory can employ around 1000 people,&rdquo; says Golyan.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	He explains that out of the total profit made through this venture, 20 per cent goes for development work while the rest is used in replicating similar projects in other villages. &ldquo;I am doing all this to make the project sustainable so that it can continue even if am not there to look after them,&rdquo;&nbsp;</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Golyan says.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	Around five kilometres north from Nauniya, Golyan has adopted another village with same socio economic situation like Nauniya. &nbsp;People have not been involved in income generating activities despite having land to make decent earnings. Golyan went there and requested locals to come up with a list of activities they could be involved in and assured them financial assistance. The group installed boring pumps in the village for irrigation after which the locals started vegetable farming after harvesting paddy.</div>
<div id="_mcePaste" style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
	The group has also started a buffalo farming project. For this project, Rs 1.2 million was collected from 12 farmers while the company invested Rs 2 million, which was borrowed as soft loan. Then 26 buffaloes were brought from Haryana, India. &nbsp;To assist the farmers, the group has trained and employed a vet while one person is hired to monitor farmers&rsquo; activities to ensure they utilise the earnings in paying back the loan and for purchasing feed for the buffaloes. Golyan wants to develop this project as an example so that it can be replicated in other villages and be a model for fellow businessmen.&nbsp;</div>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<strong>--By Gaurav Aryal</strong></p>
<table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;">
	<tbody>
		<tr>
			<td>
				<img alt="Pawan Golyan, Chairman, Golyan Group" src="/userfiles/images/pg%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 220px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div>
						<strong>Pawan Golyan</strong></div>
					<div>
						Chairman, Golyan Group</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group, known to have a strong foothold in the textile industry, is planning to venture into the tourism industry of late. As a first venture into the new sector, a three star hotel is under construction at Baneshwor Height of Kathmandu. Pawan Golyan, Chairman of the group, says that the hotel will start its services within the next two years.&nbsp;</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	According to Golyan, the hotel&rsquo;s prime clients will be transit tourists as it will be located close to the Tribhuvan International Airport and Pashupatinath Temple, a popular Hindu shrine. The hotel will have 115 rooms. Golyan reveals that the company will tie up with an international hotel chain once the construction is completed.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The group plans to develop tourism as one of its core sectors. Golyan says that the hotel is being developed as a trial project before leaping into the industry. If things go as planned, the group plans to establish two and three star hotels in industrial hubs such as Biratnagar, Birgunj and Pokhara. &ldquo;We do not just dive into any business sector. We first try it to understand the scene before we move forward,&rdquo; he explains.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<strong><span style="font-size:14px;">Weaving the Industrial Base</span></strong></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group was founded by Sohan L Golyan, father of Pawan Golyan around five and a half decades ago with trading. The first manufacturing venture he established was a button factory, after which textile factories followed. In the course of the group&rsquo;s evolution, it involved itself in manufacturing a wide range of products such as slippers, zippers, audio cassettes among others, but they closed it down later. The textile and fabric based companies, however, lived on.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	When business was passed on to the second generation, Pawan Golyan started Reliance Spinning Mills Limited, one of the signature companies of the group. He says that this company registers an annual turnover of roughly Rs 5 billion and employs 3500 labours and 300 executives. Golyan claims that this is one of the largest industries in Nepal in terms of labour size and capital base. The group has invested around Rs 4 billion in this spinning mill alone.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<span style="font-size:14px;"><strong>Textile&rsquo;s Strength</strong></span></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Though the group went on exploring, it also started experimenting with various other sectors, textile manufacturing continued by extending product line from acrylic yarn to pashmina and packing sacks. Golyan says that the group at one point tried steel manufacturing but did not succeed as much as textiles. &nbsp;The group now considers textiles as its specialised sector, whether it is pashmina, cashmere sweaters, yarns or woven sacks.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The group now has five companies specialised in the textiles industry. Reliance Spinning, a state of the art spinning mill, manufactures spun yarns mainly in acrylic, polyester, viscose and blends. The products of this company are mostly exported to India. According to Golyan, 70 per cent of the products are exported to India, 20 to 25 per cent is sold in the domestic market, and the rest are exported to other countries. The company is now working towards producing cotton yarns to meet all domestic requirements.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Similarly, 95 per cent of cashmere and pashmina products produced by two companies - Tricot Industries and Himali Pashmina - are exported to the European, Australian and the US markets. The export surplus is sold in the domestic market through a showroom at Durbarmarg, Kathmandu. Tricot Industries was upgraded to a fully automated system around one and a half year ago.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Products such as circular knitted fabrics and woven sacks produced by Shivam, a third company, have their majority markets beyond Nepal - mostly in India, Bangladesh and Turkey. According to Golyan, around 80 per cent of Shivam Plastic&rsquo;s products are exported to India while remaining 20 per cent is sold in other countries including Nepal.</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	<span style="font-size:14px;"><strong>Expanding Business</strong></span></p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	The Golyan Group refrains from expanding the production capacity of its manufacturing units because of power shortage. &ldquo;If we had 24 hour power supply, we could double the production capacity of Reliance Spinning Mills and create jobs for 4000 people. But most of our factories are operating at 30 to 60 per cent of the installed capacity,&rdquo; he explains.&nbsp;</p>
<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
	Besides this, the group is determined to revive its interest in hydropower business. It had dropped five projects with a total capacity of 20 MW after procedural delays and obstruction from local bodies. Golyan says that the group will start researching other possible projects in the next three months.</p>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; text-align: center;">
						<strong><span style="font-size:16px;">New Model of CSR: Social Enterprise</span></strong></p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Pawan Golyan, Chairman of Golyan Group is dedicated to Corporate Social Responsibility (CSR) and treats his CSR projects as invaluable business ventures. He has adopted two villages in Kailali district and is working for enhancing the livelihood of local people by providing opportunities for sustainable source of income. These two villages have around 340 households with a total population of nearly 1500 people.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Nauniya, a village Golyan adopted has a majority of settlements of mukta kamaiya (freed bonded labours). &nbsp;Each household owns a small piece of land provided by the government and a house to live in, built by a donor agency. Golyan says that the male members of the community have been making their living by migrating to India after completing rice cultivation while women are mostly unemployed.&nbsp;</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Golyan helped install boring pumps for irrigation in the village. Similarly, he also established a training school targeting young women to train them in sewing and knitting. He says the first batch has completed the course and soon will find jobs within the locality. Golyan has also set up a tapari (plate made of leaves) factory. He has not only made investments but has also been managing the manufacturing unit. So far, the company has installed five machines for producing taparis and plans to increase to 30 machines. &ldquo;Then the factory can employ around 1000 people,&rdquo; says Golyan.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						He explains that out of the total profit made through this venture, 20 per cent goes for development work while the rest is used in replicating similar projects in other villages. &ldquo;I am doing all this to make the project sustainable so that it can continue even if am not there to look after them,&rdquo; Golyan says.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						Around five kilometres north from Nauniya, Golyan has adopted another village with same socio economic situation like Nauniya. &nbsp;People have not been involved in income generating activities despite having land to make decent earnings. Golyan went there and requested locals to come up with a list of activities they could be involved in and assured them financial assistance. The group installed boring pumps in the village for irrigation after which the locals started vegetable farming after harvesting paddy.</p>
					<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
						The group has also started a buffalo farming project. For this project, Rs 1.2 million was collected from 12 farmers while the company invested Rs 2 million, which was borrowed as soft loan. Then 26 buffaloes were brought from Haryana, India. &nbsp;To assist the farmers, the group has trained and employed a vet while one person is hired to monitor farmers&rsquo; activities to ensure they utilise the earnings in paying back the loan and for purchasing feed for the buffaloes. Golyan wants to develop this project as an example so that it can be replicated in other villages and be a model for fellow businessmen.</p>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Some Companies under Golyan Group</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Textile Manufacturing</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Reliance Spinning Mill</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Shivam Plastic Industries</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Tricot Industries&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					(Formally Makalu Cashmere)</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Himali Pashmina</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Financial Services</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>NIC Asia Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>NMB Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Nepal Life Insurance Company Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Lumbini Bank Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Prudential Insurance Company Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					International Trade</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Atlanta Trading Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Westar Galaxy Trading Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Real Estate</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>Westar Properties Pvt Ltd</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&bull;<span mce_style="white-space: pre;" style="white-space: pre;"> </span>City Properties</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Management&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					The group employs around 7000 staff. Pawan Golyan says that none of the companies have faced labour strikes and operation has not halted even for a minute. Cordial relationship maintained with workers has prevented disputes and also helped make employees a part of the Golyan family. Fair dealing and fair treatment to employees is the principle of the group when it comes to human resource management, according to Golyan. He says that the major problem is labour shortage rather than other functional wrangling. &nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Hi-life on Westar Properties</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					Westar Properties Pvt Ltd, a subsidiary of the group, founded in 2008 has been developing apartment properties with technical collaboration with Westar Properties, Dubai. According to Golyan, 212 apartments are almost ready to be handed over to their buyers. &ldquo;We have delivered better quality than what we promised. There are no other projects in my knowledge that match the quality, facilities and price of this project, even in India,&rdquo;&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					he claims.</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					The group is planning to develop another high-end residential high-rise apartment at Soaltee Mode with premium facilities. According to Golyan, this new property will have state-of-the-art facilities including a gym, cinema hall, squash court, badminton and tennis courts, a jogging track and oxygen room among others. &nbsp;Golyan promises to complete this project by the first quarter of 2015.</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<div class="mceItemVisualAid" id="_mcePaste" style="border: 1px dashed rgb(187, 187, 187); color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow: hidden;">
					&nbsp;</div>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif; text-align: center;">
					<strong><span style="font-size:16px;">Some Companies under Golyan Group</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Textile Manufacturing</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Reliance Spinning Mill</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Shivam Plastic Industries</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Tricot Industries&nbsp;</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					(Formally Makalu Cashmere)</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Himali Pashmina</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Financial Services</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;NIC Asia Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;NMB Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Nepal Life Insurance Company Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Lumbini Bank Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Prudential Insurance Company Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">International Trade</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Atlanta Trading Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;Westar Galaxy Trading Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Real Estate</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;<span class="Apple-tab-span" mce_style="white-space:pre" style="white-space: pre;"> </span>Westar Properties Pvt Ltd</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					&bull;<span class="Apple-tab-span" mce_style="white-space:pre" style="white-space: pre;"> </span>City Properties</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<strong><span style="font-size: 14px;">Management&nbsp;</span></strong></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					The group employs around 7000 staff. Pawan Golyan says that none of the companies have faced labour strikes and operation has not halted even for a minute. Cordial relationship maintained with workers has prevented disputes and also helped make employees a part of the Golyan family. Fair dealing and fair treatment to employees is the principle of the group when it comes to human resource management, according to Golyan. He says that the major problem is labour shortage rather than other functional wrangling. &nbsp;</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					<span style="font-size: 14px;"><strong>Hi-life on Westar Properties</strong></span></p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					Westar Properties Pvt Ltd, a subsidiary of the group, founded in 2008 has been developing apartment properties with technical collaboration with Westar Properties, Dubai. According to Golyan, 212 apartments are almost ready to be handed over to their buyers. &ldquo;We have delivered better quality than what we promised. There are no other projects in my knowledge that match the quality, facilities and price of this project, even in India,&rdquo; he claims.</p>
				<p style="color: rgb(51, 51, 51); font-family: Arial, Helvetica, sans-serif;">
					The group is planning to develop another high-end residential high-rise apartment at Soaltee Mode with premium facilities. According to Golyan, this new property will have state-of-the-art facilities including a gym, cinema hall, squash court, badminton and tennis courts, a jogging track and oxygen room among others. &nbsp;Golyan promises to complete this project by the first quarter of 2015.</p>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-16',
			'modified' => '2013-09-16',
			'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 Golyan Group, known to have a strong foothold in the textile industry, is planning to venture into the tourism industry of late. As a first venture into the new sector, a three star hotel is under construction at Baneshwor Height of Kathmandu. Pawan Golyan, Chairman of the group, says that the hotel will start its services within the next two years.',
			'sortorder' => '1666',
			'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 = false
simplexml_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