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			'id' => '1684',
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			'title' => 'Towards Prosperous  Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	What are the elements that shape the country&rsquo;s transition from volatile politics to stable democracy? All too often, policy analysts focus on the political process, while neglecting the vital role of economic reform in determining democratic success or failure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the last decade, high unemployment and lack of entrepreneurial opportunities posed serious challenges to Nepal&rsquo;s transition. On the other hand, the country faced growing unresolved grievances caused by issues such as misappropriation of private property, rampant corruption and widening inequality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yet, there is silver lining. Despite a decade-long political turmoil and armed conflict, the country&rsquo;s economy was successful enough to maintain its basic economic indicators in a positive direction. It is for sure that the country will go through a long and complex journey before the current political transition will settle to form a stable democracy. The question remains as to how to unleash economic prosperity in the current situation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Many believe that the country can achieve prosperity if elections are held on time as political parties will agree on a common economic agenda to take the country into a prosperous future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government on July 14 announced the annual budget of Rs 517.24 billion for the Fiscal Year 2013-14 through an ordinance. This is the first time in two years that a government budget has been announced for the entire fiscal year before the fiscal year begins. The budget of the current fiscal year gives special emphasis on elections to the Constituent Assembly by earmarking Rs 16 billion to hold the CA election. The budget has also emphasised on sustainable development along with economic growth and stability.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government is heading towards a dream of achieving the status of a &lsquo;developing country&rsquo; by 2022 through a three-year plan. Many suspect whether the Nepali economy can begin the journey of prosperity in the given circumstances. The experience of the last decade, however, shows that the country can achieve things if the CA election is held on time and if political parties are united on a common economic agenda.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Despite political instability, Nepal has witnessed a noticeable growth in all sectors during the last decade. In recent years, many banks and money transfer businesses have grown. Nepal was one of the highest receivers of remittance on the basis of the Gross Domestic Product (GDP) in 2011.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Between 1980-2012, Nepal&rsquo;s Human Development Index (HDI) rose by 3.8 percent annually from 0.234 to 0.463 today, which ranks the country 157 out of 187 countries with comparable data.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal is one of the 189 countries committed to the Millennium Development Goals (MDGs), a pledge renewed in its three year plan (2010-2013). The data from MDG progress report for Nepal 2010 prepared in partnership between the government of Nepal and the UN country team indicates that Nepal may be able to achieve most of its MDG targets by 2015.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are noticeable improvements in other economic indicators too. The national poverty line has gone down to 25 percent, net enrollment rate has increased to 93.7 percent, under five mortality has reduced to 50 per 1000 live births and maternal mortality has reduced to 229 per 100,000 live births which is almost reduction by half in 10 years&rsquo; time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Be it the health and education sector or the manufacturing and industrial sector, the country has succeeded to achieve remarkable progress despite political instability during the last decade.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Improvements in health services have resulted in a decline in the mortality rate. The declining mortality rate coupled with high fertility rate has resulted in rapid population growth. Control of malaria and other epidemics and the expansion of medical and public health facilities also reduce morbidity and mortality in the country. School enrollments of both boys and girls at all levels have increased.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are rays of hope also in the hydropower sector too. Currently a power deficit country will be a power surplus one by 2018 if all ongoing projects will be completed within a stipulated time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Around a dozen of hydropower projects including 556 MW Upper Tamakoshi, 50 MW Upper Marsyngdi, 60 MW Trishuli 3A and 42 MW Upper Modi along with others are under construction. These projects are supposed to end existing massive power outage problem and lead the country into the era of industrialisation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	During the conflict era, the tourism sector suffered a lot resulting in the closure of some renowned five-star hotels. The conflict also tarnished the image of the country in the global scene. However, the entire tourism sector has started to revive now and it is certainly no surprise that hotels have mushroomed in recent years. As the number of tourists and foreign business travelers in Nepal are growing in step with its economy, Nepal&rsquo;s rapidly maturing hotel industry is one of the key beneficiaries. The tourism sector has given much to the Nepali business community to cheer.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The total contribution of the travel and tourism sector to the GDP stood at RS. 119.1 billion in 2011, according to the World Travel and Tourism Council and was forecasted to rise by 4.8 percent in 2012 and by 4.1 percent per annum to NRP 185.5 by 2022.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Some of the road construction projects that are under the works raise hope in the realm of infrastructure development. Tripura Sundari to Satbanjha (25 km), Satbhanja to Gokuleshwar (54 km), Khodpe to Kalinga Bridge, Chainpur (62 km) are some major projects to connect rural Nepal by road access.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	These projects would lead to a 6 percent increase in the number of people with all-season road access and a 35 percent decrease in travel time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Educating and uplifting the status of the vulnerable and marginalised children, women empowerment through community-based livelihood enhancement projects is a tool to leap forward. Programmes of integrated rural development and nature conservation in the mountain region of Chitwan district is worth mentioning for steady rural reconstruction in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Not only the telecom sector but also the entire Information and Communication Technology (ICT) sector has been witnessing a remarkable growth after the political revolution in 1990. Both growth and expansion of the ICT sector has lured many brands and companies to invest in the country. The monopoly of the state-owned Nepal Telecom has ended and many players have emerged in the telecom and ICT business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Today, all districts of the country have telecom facilities and consumers are using state-of-art technology and sophisticated devices to prove themselves tech-savvy. The government and private sectors are mulling to utilise ICT to boost the economy by using its maximum potential to promote all sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In recent years, the agricultural sector has also gained attention from the government as well as the private sector. The government&rsquo;s plan to modernise agriculture, ease the distribution of chemical fertilizers, step up the construction of irrigation projects would at least decrease the country&rsquo;s dependency on import for the agro-products, making the country self-reliant.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Green Kathmandu, Clean Bagmati campaign will lift the face of the river flowing through the capital. The Melamchi Drinking Water Project will solve the problem of acute shortage of water in the Kathmandu valley.&nbsp;</div>
<div>
	It is always said that the youth are not just leaders of tomorrow but partners of today.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The population of youth between the age of 15 and 29 is 6.131 million in Nepal. This accounts for 26.5 percent of the total population. Consolidating youth for prosperous development should be the main responsibility of the state, private sectors, and civil society.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The nation should take advantage of young talent and energy, simultaneously solving problems of violence, instability and abusive behaviour. Considering these facts, it is necessary to invest energy and capacity embodied in the youngsters in a constructive way for the development of our country by making the rural youth competent and responsible.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Since we are going through a post conflict period, the state machinery should not neglect this mass. The government should come up with a plan to engage these large numbers of youth in creative and entrepreneurial ventures. This is the need of hour of our country. Also, it is the only way to enhance our youth with their energy and efforts.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a country like Nepal, real development Let us dream together that one day the rural youth of Nepal will be able to lead not only the development process but also play a vital role in the economic, cultural and political sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As in an essay by noted litterateur Laxmi Prasad Devkota entitled &lsquo;Is Nepal Insignificant?&rsquo; where he eloquently writes about the prospects of Nepal, this country has tremendous potential for economic growth. But all we need to boost the country&rsquo;s economy are commitment from the political leadership, positive thinking of the general public and sincere and genuine efforts from the private sector.</div>
<div>
	&nbsp;</div>',
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			'description' => 'In an ideal situation, we have hopes of becoming Switzerland. In reality, our conversation begins with negative news. It seems Nepalis are very enthusiastic to change the country but put in little effort for their own part',
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			'id' => '1683',
			'article_category_id' => '57',
			'title' => 'Establishing A Noodle’s Brand',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Noodles have become a Nepali staple. With so many new brands in the market, competition for consumer loyalty is fierce. The first homegrown manufacturer, in the early eighties, was Gandaki Noodles of Pokhara, which introduced Rara (named after a mountain lake). Then, around 1985, Wai Wai, manufactured by the Chaudhary group, entered the market with a brown, spicy, precooked noodle, which became an instant crowd pleaser in the urban centers. Along with this another brand RumPum appeared the market in late 90s.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the past few years many players have entered the field, and today committed noodle fans can choose from a couple of dozen brands, manufactured by a dozen companies. Along with this, eating a noodle has been a culture among Nepalis and the business is doing well in the market as well. Here the question is&mdash;what makes noodle business sustainable among customers and in the market?&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Entrepreneurs believe that powerful branding and quality of a product are two major factors that sustain a product. Noodle industries, too, are supportive to this fact. Every noodle industry, acknowledging this, involves itself in different branding strategies: be it a selection of catchy tags in a product or introducing different lucrative schemes or holding promotional campaigns directly targeting the potential consumers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To attract consumers, RumPum had run various consumer schemes including the initial highly successful offer of putting a toffee along with each Rumpum. &ldquo;We are very conscious about the brands. We have a very strong research department and an international quality lab to check our products regularly to uphold our standards,&rdquo; shares Mahesh Jaju, Managing Director of Asian Thai Foods. Jaju adds, &ldquo;Promotional campaigns play a vital role to gain favor of the consumers.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With this increasing demand among cunsomers Rum Pum ran a massive media campaingn in late 90s targeting the 8-18 years children.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the similar manner, Wai-Wai too adopted different branding policies to establish its products. GP Sah, Vice President, FMCG Division at Chaudhary Group admits that the initial days were not easy sailing. He says, &ldquo;The branding process had to be robust and scientific. We needed to be prepared for new brands that may come in the market and start competing with us. Our campaign&mdash;Hami Sabaiko Wai Wai-- certainly helped us in this regard and made the branding process quite easy.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Wai Wai also went through different other schemes as scholarship to children at schools and vitamin fortification in noodles. Wai wai focused more on making the noodle healthier by adding healthy ingredients such as vitamin.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though other brands too did something similar&mdash;vitamin fortification as well as scholarships--but that of Wai Wai had a lasting effect. While other brands provided scholarship to the students in a lump sum onetime cash payment, Wai Wai paid the money to the schools of the scholarship recipients and started collecting their progress reports. &ldquo;We provided the scholarship amount in installments at regular interval so that it can have a lasting effect in the educational career of students,&rdquo; explains Sah.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	These all show that a brand exists only through excessive branding. Noodles are great snack foods. Most the younger generation people have 10 rupees in their pocket.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Noodles have become a Nepali staple. With so many new brands in the market, competition for consumer loyalty is fierce. The first homegrown manufacturer, in the early eighties, was Gandaki Noodles of Pokhara, which introduced Rara (named after a mountain lake).',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1682',
			'article_category_id' => '41',
			'title' => 'Hotel: Rediscovery Of A Lucrative Sector',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal has again become a very lucrative country for hotel business. A number of leading global hotel chains have already declared to expand their presence in Nepal while many others are planning to enter in this small Himalaya country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Multinational hotel brands Sheraton (the largest and second oldest brand of Starwood Hotels and Resorts Worldwide) and Marriott International (a leading hotel chain based in Maryland, US) recently announced the decision to enter Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shesh Ghale, the Australia-based Nepali millionaire businessman, has entered into joint venture with Sheraton to operate a five-star hotel in Kathmandu. His MIT Group Holding Nepal recently signed an agreement with Starwood Hotels and Resort Worldwide Inc and set the project rolling.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Slated to open in February 2018, the 225-room Sheraton Kathmandu Hotel will be managed by Starwood Hotels &amp; Resorts. This project will bring around Aus $ 75-80 million in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similalry, Maliram Shivakumar (MS) Group has signed an agreement with Marriot International, a globally renowned chain of hotels, to open a four-star hotel in Nepal. Named &ldquo;Fairfield Marriott Kathmandu&rdquo;, the hotel will be located in Thamel which will start its commercial service in the beginning of 2016 with around Rs 650 million investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Various other 5- star hotels like Sambala Holdings at Maharajgunj, Chhaya Devi Complex at Thamel and Shree G Hotel are also planning to start soon. Similarly, luxurious hotels have also been established outside Kathmandu valley mainly in Pokhara, Bhairahawa, Lumbini and Nepalgunj.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the tourism industry&rsquo;s growth in Nepal, it is certainly no surprise that the hotels have mushroomed in recent years. As the number of tourists and foreign business travelers in Nepal are growing, Nepal&rsquo;s rapidly maturing hotel industry is one of the key beneficiaries. The country is booming the world of five-star hotels offering best services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Apart from 5 stars hotels, the hotels labeled as 4- star, 3- star, 2- star, other informal hotels and even home stay system have been witnessing rise in the investment with the increasing number of tourists in Nepal. Though selected number of tourists emphasize on their living standards also during their visit, most of the tourists entertain themselves on spending money on recreational activities rather than their lodging which is the main cause of flourishing the business of non star hotels and home stays.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Number of Hotels in Nepal" src="/userfiles/images/no%20of%20hotels(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 159px;" />Rising Investment&nbsp;</span></strong></div>
<div>
	According to the statistics provided by Nepal Rastra Bank, the total investment in hotel sector in Nepal till the date is Rs 16.91 billion. About 75 per cent of the entire investment in tourism sector is being done in hotel sector. The data shows that yearly investment in hotel sector only in 18 per cent while only 18 per cent of investment can be seen in other sectors of tourism.</div>
<div>
	&nbsp;</div>
<div>
	As a positive impact of Nepal Tourism Year 2011, the investment in hotel industry have started to boom. Stars hotels in Kathmandu are investing over Rs1 billion to build up their capacity and upgrade the facilities. Most of four stars hotels in the country are working hard upgrading themselves by adding new rooms and uplifting their amenities. It was crucial for such investments in hotel industry to cope up with the increasing numbers of tourist entering into Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the information from Ministry of Tourism and Civil Aviation, the hotels in Nepal have the capacity to accommodate around one million tourists at present. Similarly hotels are boosting up their occupancy level to accommodate the expected number of tourist.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The existing five star property Hotel Soaltee Crowne Plaza has renovated 130 rooms. It is replacing the TVs in all its rooms with 42 inch-LCD TVs. Similarly Radisson has already added 100 rooms. According to the hotel, the new rooms will be spacious and have contemporary looks, lighting and furniture. Hotel Yak &amp; Yeti is giving a new look to 150 rooms in the Durbar Wing while the Everest has renovated 40 of its 160 rooms. Hotel Annapurna is now working to refurbish its 150 rooms. The record number of tourist in year 2010 has made hoteliers optimistic to pick up the pace.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Home Stay in Nepal" src="/userfiles/images/hotel1.jpg" style="width: 500px; height: 319px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Home Stay System&nbsp;</span></strong></div>
<div>
	The concept of home stay program is considered to be the best alternative to hotel accommodation in the hospitality industry. Basically home stay systems are planned to increase the flow of tourists in the villages or the remote areas where the hotels are not established. But these days the home stay systems are also being urban centered. Around 60 per cent of investments of home stay system are being done around the city in the areas like Kavre, Sitapaila, Dhulikhel etc.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Tourist Inflow in Nepal" src="/userfiles/images/tourist%20inflow(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 209px;" />Tourists&rsquo; inflow&nbsp;</span></strong></div>
<div>
	According to the data provided by economic survey FY 2012, Ministry of Finance, the rate of tourist arrival in Nepal has increased by 9.08 per cent by 2011 to 2012. A total of 7,36,215 tourist entered to Nepal in the year 2011 which increased to 8,03,092 in 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the number of tourist visiting to Nepal has been increasing, their average stay in Nepal has been decreased by 0.25 percent this year.</div>
<div>
	With the increment of tourist in the country, the hotel industry doesn&rsquo;t have to see backward. Experts in the hospitality industry opine that the establishment of hotel in the area becomes the major root for the urbanization. Prasidha Bahadur Panday, former president of Hotel Association of Nepal (HAN) said that the hotel business will flourish more in upcoming days as the tourist offer first priority to lodging. The government of Nepal has prioritized tourism sector and started implementation its announcement to provide the same facilities to this sector as provided to any industry</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-23',
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			'description' => 'Nepal has again become a very lucrative country for hotel business. A number of leading global hotel chains have already declared to expand their presence in Nepal while many others are planning to enter in this small Himalaya country.',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1681',
			'article_category_id' => '42',
			'title' => 'Budget Prospects Pulled Market Above 500',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>By Bikram Chitrakar</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="STOCK TAKING" src="/userfiles/images/sectors(2).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 905px;" />The benchmark Nepse index stretched 10.85 points or 2.14% to close at review period high of 506.45 while the low was on 23rd June with 487.63.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The index climbed back to nearly four months high surpassing the previous resistance level of 500. Investor&rsquo;s expectation of the full budget for fiscal year 2013-14 was the main reason.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the review period, the market also experienced positive supply shock. Initial public offering (IPO) of Mega Bank Nepal, right issue of Nepal Bank Ltd and some other IPOs and right issues absorbed the liquidity. This put pressure on the investors to sale off their stocks to unfreeze the funds for investment in the primary issues. Further, fiscal year-end tightening on margin loan from the financial institutions played its role to make the investors to offload some shares. Still the market saw an overall positive growth indicating further growth in the days ahead.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Rumours that Nepal Rastra Bank is all set to instruct financial institutions for raising paid-up capital acted as a spur to lift banking stocks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, Sitaram Thapaliya has been appointed as the General Manager of Nepal Stock Exchange. The position was lying vacant since January 2013 after the tenure of Shankar Man Singh came to an end. Assuming office, Thapaliya said he would try to upgrade the online trading platform to facilitate the traders beyond located outside Kathmandu valley and abroad.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Performance by Sector&nbsp;</div>
<div>
	During review period, insurance sub-index added 29.79 points. That was followed by 29.37 points up in the &lsquo;others&rsquo; sector on the back of gain in the price of Nepal Telecom. Hotels sector went up 18.22 points or 2.75 percent to 662.85. Commercial banking sector posted growth of 9.74 points. However, manufacturing sector receded 7.74 points to 868.72 while hydropower sector plummeted 1.87 points to rest at 1041.43.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sensitive index that measures the performance of 120 blue chip companies went up 2.21 points to 126.12 while the float index which is calculated on the basis of real transaction went uphill 0.26 points to 35.75. A total turnover of Rs. 1,817,767,779 was realized during the review period from 8.530,819 units of shares traded via 25,787 transactions.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As usual, the commercial bank has occupied the 77.65% of total volume of trade. Hydropower sector accounted 12.84%, insurance covered 9.57% and rest was made up by other remaining sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Technically, the Simple Moving Average (SMA) has been outcast by Nepse index while the index has crossed the level of 500. The 30 days SMA and 200 days SMA are in tight range suggesting resistance test at this level.</div>
<div>
	(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</div>
<div>
	&nbsp;</div>',
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			'description' => 'The benchmark Nepse index stretched 10.85 points or 2.14% to close at review period high of 506.45 while the low was on 23rd June with 487.63.',
			'sortorder' => '1542',
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	(int) 4 => array(
		'Article' => array(
			'id' => '1680',
			'article_category_id' => '37',
			'title' => 'Gold And So-Called Regulated Gold Market In Nepal!',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Chittaranjan Pandey</strong></div>
<div>
	&nbsp;</div>
<div>
	Gold is a very important component of the human lives on the earth today. Gold not only has the metallic value but also has been used as a hedge against several risks in the human life. Today gold is used from medicines to luxury. The use of gold carries lots of historical and mythological values beyond the regular usage we talked about.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<div>
		अग्नेः प्रजातं परि यत् हिरण्यम्</div>
	<div>
		अमृतं दघे अधिमत्र्येषु</div>
	<div>
		यएनव्देद स इदेनमर्हति</div>
	<div>
		जरार्मृत्युर्भवति यो बिभर्ति ।।</div>
	<div>
		&nbsp; &nbsp; &nbsp; &nbsp;&ndash; अथर्व वेद, काण्ड १९, सूक्त २६, ऋचा १</div>
</div>
<div>
	&nbsp;</div>
<div>
	The above lines from Atharvaveda mean &ldquo;I adorn gold created or originated from fire which bestows eternity. One who adorns it is liberated from the fear of untimely death.&rdquo; This signifies how gold has gained so much of significance for us. To go deep with the importance of gold, the yellow metal is believed to be the most sattvik, meaning holy, divine or serene. It is also believed that gold destroys most of the harmful germs in our body and using gold enhances the absorption of divine energy to greater extent. Specifically, in case of women, it is believed that when women put on gold ornaments, the shakti-roop is activated and the whole family is protected.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The above mentioned reasons only signify why gold has received so much of mythological importance. Coming to these days, when people have started to take themselves above the cultural and traditional barriers, most of the things do not have the same shape. Yet, gold is successful enough to declare its commercial importance and has been luring people almost every corner of the world.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	When I talk about gold, how can I miss out talking about its importance in the currency management worldwide? Gold has played an important role in backing up the currency worldwide for long but these days, the scenario is different. We usually hear about the inverse relation of gold and US dollar. To explore the same, we need to dig back further. It was long back during the World War I when the warring nations shifted their money to a miniscule gold standard, thus bloating their own currencies to finance the war. Gold backed currency system thus lasted for long but the problem it invited was that all the countries wanted to deposit more gold to strengthen their currency which resulted major economic shocks. Coming to the era of Second World War also, the world was still tangled with the hard power and humanitarian crisis. But after the Second World War, Bretton Woods conference was organized and International Bank for Reconstruction and Development (IBRD-present World Bank) and International Monetary Fund (IMF) - called Bretton Woods Institutions were formed. Gold standard and the direct convertibility of the currencies were eradicated. Because United States was the most dominant power after the war, US Dollar was backed by gold and almost all other currencies in the world accepted US dollar to back up their currencies. Besides that, gold is held by many in various forms as a hedge against inflation and other economic disruptions. One of the most common forms of usage of gold in our society is the jewelry. Gold itself is very inert so gold salts are used for various medicinal purposes also. Gold salts are used for the treatment of arthritis; gold based injections heal and minimize the pain and swelling of rheumatoid arthritis and tuberculosis. Gold is also important in dentistry helping for restorations. Other very important use of the gold is for electroplating of gold onto base metals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After we go through the various usage forms of the precious yellow metal, we can explore why this stands as a luring metal in the market to earn maximum profit in various ways. The news heating the market these days is that the gold price is decreasing rampantly but domestic price of the gold in Nepal is not responding to it well. When there is a price hike, gold traders in our country do not wait a second to raise the price but when it is falling, the traders do not want to sell any gold to the people. Isn&rsquo;t this pathetic regulation? More frustratingly, the strike of the gold traders broke with an interesting end- &ldquo;Not penalizing the guilty&rdquo;. The gold traders would start selling gold only when the government assures that the thug is not penalized.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Please have a look at table to know how the price of gold is derived and how much of profit our gold traders earn:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For instance, I have taken the price of gold on 26th June, 2013, the moment when price was US$1223.20 per ounce.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Through various newspaper articles, people must be aware that the market demand for gold remains around 40 kg per day whereas traders believe that the daily consumption of gold in the market remains around 30 kg on an average. On the contrary, Nepal Rastra Bank sells only 15 kg of gold daily in the market through various assigned commercial banks. On an average, there is a deficit supply of almost 15 kg. We all know gold market is REGULATED in Nepal. So let&rsquo;s not focus much on where the remaining gold to meet the market demand comes from. Rather I would like to explore with the economic benefit from the gold trading only. Even if we deduct Rs. 1000 per 10 grams as the additional costs, insurance cost- which is too much in itself and usually comes to almost half of that amount, the profit of the traders is Rs. 1085.23 per 10 grams. This means in one kilogram of gold, the traders earn Rs. 1,08,523.00 on an average. Similarly, for the official 15 kg of gold, the total earning of the traders become Rs. 16,27,845.00 on an average. These numbers will keep on growing if we intend to show their weekly and monthly income.&nbsp;</div>
<div>
	&nbsp;</div>
<table align="center" bgcolor="#E5E4E2" border="0" cellpadding="10" cellspacing="0" style="width: 500px;" td="">
	<caption>
		<strong><span style="font-size: 14px;">Gold Price Calculation</span></strong></caption>
	<tbody>
		<tr>
		</tr>
		<tr>
			<td>
				<strong>Particulars</strong></td>
			<td>
				<strong>Price (NRs.)</strong></td>
			<td>
				<strong>Remarks</strong></td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Per Ounce (As per Reuters)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">1223.20 (USD)</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">NPR/USD Selling Rate (As per NRB)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">95.51</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Gold Rate in USD (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">391.35</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">(((1223.20*0.995))/31.1)*10</span></strong></td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">In NPR (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">37,224.77</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">(392.24*95.51)</span></strong></td>
		</tr>
		<tr>
			<td>
				<div>
					<strong><span style="font-size: 11px;">Add Customs</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">(As per Republica Article)</span></strong></div>
			</td>
			<td>
				<strong><span style="font-size: 11px;">3000</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Total (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">40,224.77</span></strong></td>
			<td>
				<div>
					<strong><span style="font-size: 11px;">(Adding Price in NPR</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">and Customs)</span></strong></div>
			</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Market Price (NEGOSIDA)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">42,310.00</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Difference in Price (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">2085.23</span></strong></td>
			<td>
				<div>
					<strong><span style="font-size: 11px;">(Additional Cost, Insurance</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">and Profi t)</span></strong></div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>
<div>
	The story does not end here. When we look into the real scenario, if jewelry is made out of 10 gram gold, 1 gram of other metal, besides gold,is used on an average for the bonding and many other purposes. This means that when a customer buys 10 gram of gold, s/he actually purchases only 9 grams of gold on an average. Besides that, when the price of gold increases internationally, the increment in price is implemented so promptly but when the price of gold decreases internationally, the case is different. It takes a long time for the authorized traders&rsquo; association to adjust the decreased price of gold. This clearly shows that the ethics is slumping in the REGULATED gold market of the country. Moreover, the traders go on strike, the shops are closed when price goes down as if there is no gold supply in the market which is totally against the economic theory. Other things remaining the same, the price of a commodity goes down only when the supply of the commodity increases. Unethical cartel is rampant in the gold market here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Is there no option to this? Globally, the option to this is the authorized commodity exchange which can deliver gold to the public cheaper than the other sellers. People can buy gold from the exchange and ask the jewelry shops to make the jewelry as per their requirement or they can also trade back the gold on their will. A remarkable benefit from the exchange is that people do not have to wait for hours or days for the gold price adjustments, the adjustments happen promptly in the software of exchange. Quality of the gold is not compromised; it is the same that the Nepal Rastra Bank authenticates, because the exchange will buy gold from the banks only. On the same price level given in the example above, the exchange can deliver gold at price below Rs. 41,200 per 10 grams. Isn&rsquo;t this profitable to customers? This will exactly be the WIN-WIN situation for both the counterparties.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	What the country is lacking is the regulatory framework and the market is lacking the business ethics on the whole, thus losing the customers&rsquo; faith and confidence from the market. Isn&rsquo;t it high time government starts taking commodity exchange as an alternative to maintain market equilibrium?</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 11px;"><em>(Pandey is Assistant Manager, Research &amp; Development Department at MEX Nepal Ltd.)</em></span></div>
<div>
	&nbsp;</div>
<div>
	<em>Disclaimer: The views and expressions expressed in the article are entirely personal and my employer has nothing to do with it. This is an informational piece of writing and has no intention to provoke any individual, group or entity.</em></div>
<div>
	&nbsp;</div>',
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			'description' => 'Gold is a very important component of the human lives on the earth today. Gold not only has the metallic value but also has been used as a hedge against several risks in the human life.',
			'sortorder' => '1541',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1679',
			'article_category_id' => '31',
			'title' => '‘Our Clients Include Major Multinationals As Well As Small SMEs’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Hayden Davies</strong>&nbsp;is the Director of BM TRADA, a specialist testing, inspection and certification business. BM TRADA was established nearly 80 years ago in the United Kingdom that now has 40 offices in 33 different countries. Originally a civil engineer, Hayden has been with BM TRADA since 1994 and has managed a number of the business streams. In an interview with New Business Age, Hayden shared the importance of certification in industries in Nepal.&nbsp;<strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you tell us the reasons for your visit to Nepal?&nbsp;</strong></div>
<div>
	Firstly, we had to attend the annual general meeting of our company that was decided to be held in Kathmandu. Secondly, we had to meet our staff, Indian partners and clients in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is BM TRADA all about?&nbsp;</strong></div>
<div>
	BM TRADA provides certification, testing, inspection, training and technical services around the world . We are very honest in the areas we work in. We are specialists in furniture technology and testing, timber technology and have general expertise as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Who are the target clients?&nbsp;</strong></div>
<div>
	Our clients range from major multinationals to the very small SMEs. Currently, the Chilime hydropower project, ten colleges, some BFIs (Banks and Financial Institutions), textile industries are some of our clients in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How does this certification help organizations in Nepal?&nbsp;</strong></div>
<div>
	In general, it possibly helps them to operate more efficiently. Basically, having an ISO 9000 management system means the organization is more efficient and less prone to mistakes. When a mistake occurs, it will be corrected because there is a recognized system. Secondly, it helps to reassure clients of the company&#39;s performance. When a client sees an organization&#39;s management system certified by an international body, they can rest assured of good returns. The certification is also constantly reassessed. We review the system every year to check on it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you view the overall qualification of organizations in Nepal?&nbsp;</strong></div>
<div>
	The development of organizations in Nepal has been strong. They have commitment and enthusiasm to quality and that is good. What I say to these clients is -- it is very important not just to maintain the system but adding value continuously, which adds value to your business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How are you expanding your market in South Asia? What is the strategy?&nbsp;</strong></div>
<div>
	We are growing our business in South Asia and work in two ways -- the first way is through subsidiaries or in joint venture, which we might own 100 percent. In India, it is a joint venture. These subsidiaries help the company to expand further. For example, BM TRADA India has now expanded to Bangladesh, Sri- Lanka and Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the second way, we hire local representatives whose every decision made is reviewed in detail in our head office in the UK. All the controls are set within our office in UK. That is how we control and maintain quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you see the future of certification in Nepal?&nbsp;</strong></div>
<div>
	It has lots of prospects. Certification is a big opportunity for companies to prove their credentials in an international stage and display international recognition to the buyers. The company demands to make buyers confident about the products while the buyers demand that the product they are buying is of reasonable quality. I think certification will grow in Nepal because it is a prerequisite for international pride.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Hayden Davies is the Director of BM TRADA, a specialist testing, inspection and certification business.',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1678',
			'article_category_id' => '46',
			'title' => '‘Banks Contribute By Dispensing Credit And Absorbing The Additional Income Of People’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">The Everest Bank Pvt. Ltd. (EBL) appointed&nbsp;</span><strong style="font-size: 14px;">AK Ahluwalia</strong><span style="font-size: 14px;">&nbsp;as its new chief executive officer effective from July 1. Founded in 1994, the bank has been one of the leading banks of the country catering to various segments of society. Ahluwalia, who has 32 years of experience in the banking sector, was deputy general manager of the Punjab National Bank, India. He has key expertise in credit and recovery in the banking system and now leads the Everest Bank which has 50 branches, 25 collection counters and 67 ATMs. In this interview with&nbsp;</span><strong style="font-size: 14px;">Siromani Dhungana</strong><span style="font-size: 14px;">&nbsp;of New Business Age, shares his experiences in banking sector and his plans in Nepal to lead Everest Bank into the next level.&nbsp;</span><strong style="font-size: 14px;">Excerpts:</strong></div>
<div>
	<div>
		&nbsp;</div>
	<div>
		<strong>You worked with the Punjab National Bank for 32 years. How do you see the banking sector in the South Asian region?&nbsp;</strong></div>
	<div>
		In my view, there is one thing common to the entire region which is the general slowdown of the economy. The inflationary trend also affects the cost of goods produced, thus making them uncompetitive in the international market. As a result, exports slow down. There is also a general tendency on the part of entrepreneurs to procrastinate in expanding their existing units or setting up new industries due to the slow economy.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>So you think the manufacturing sector and the banking sector will go well together?&nbsp;</strong></div>
	<div>
		I believe so. When the manufacturing sector is on an upswing, more capacity is created and utilized, more jobs are created and the standard of living of employees improve. People&#39;s purchasing power improves, in turn increasing demand. This is a cycle which continues and contributes in a big way to boost the economy. Banks contribute in their own way by dispensing credit and also by absorbing the additional income of people as deposits, and investing the same.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>You were with the Punjab National Bank in Delhi before coming Everest Bank Limited. What inspired you to be here?&nbsp;</strong></div>
	<div>
		I have worked for 32 years in the Punjab National Bank, having joined as Management Trainee. During my time there, I worked in all types of branches as branch manager and also at the corporate office as well as the circle office. Now I have a chance to work as CEO at Everest Bank Ltd, which is a prominent commercial bank in Nepal. It is my privilege to be a part of this institution and it would be my endeavour to carry it forward and try and make the bank stronger within the framework of regulatory guidelines.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>What are your future plans here onward?&nbsp;</strong></div>
	<div>
		Everest Bank has been doing exceeding well. It has created a unique brand image for itself. Over a period of time, it has become one of the leading commercial banks of Nepal. I believe when you have raised expectations of your stake holders, whether customers, staff, shareholders or promoters, you have to live up to them. It takes a lot to create the brand image and it would be my priority to add further value to it. I have a great team of people working with me who are fully devoted to take the bank to the next level.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Will you bring unique products/services to push the bank to the next level?&nbsp;</strong></div>
	<div>
		I have been CEO of the bank only for a fortnight and it is too early to comment. However, my priority would be to increase the customer base of the bank, both in deposits as well as credit. The existing products are, and also in future would be, in keeping with the customers&rsquo; needs and expectations.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Let&rsquo;s talk about your career and what your banking experience has taught you.&nbsp;</strong></div>
	<div>
		My banking experience has taught me one very simple thing - that if I want my customers to be loyal to me, I have to be loyal to them. When we give correct advice to our customers and deliver exactly what we promise, their loyalty automatically grows.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Your key expertise is in credit and recovery. Can you bring some innovative ideas in these areas?&nbsp;</strong></div>
	<div>
		Credit is basically a function of delivery. For a credit customer, delivery has to be very fast. As far as recovery is concerned, it is basically about being vigilant. If we are vigilant about our accounts, and if the monitoring is good, then recovery is not an issue. Primarily, if we are able to catch signal of an account going sticky at the right time, then corrective measures can be taken immediately.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Any plans for the rural sector?&nbsp;</strong></div>
	<div>
		Prior to my joining EBL, the bank already had plans for agriculture financing, having set up a branch at Rajbiraj, Krishi Udhyam Bikash Sakha. We are also encouraging some corporate clients to boost finances in rural areas.</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'The Everest Bank Pvt. Ltd. (EBL) appointed AK Ahluwalia as its new chief executive officer',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1677',
			'article_category_id' => '47',
			'title' => 'A Visionary Vanguard',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sujan Tiwari</strong></div>
<div>
	&nbsp;</div>
<div>
	Pradeep Jung Pandey, MD and Chairman of Lomus Pharmaceuticals Pvt Ltd and Vice President of Federation of Nepalese Chambers of Commerce and Industry is a familiar name in Nepali business sector. But Pandey didn&rsquo;t always have thoughts of becoming a businessperson and wanted to join the army as a young man. A simple twist of fate turned him into business, and today, Pandey has many companies and industries under him and is one of the most successful Nepali business personalities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Lomus Pharmaceuticals has recently become the first company to export medicines from Nepal, and has exported medicines worth around 25,000 USD to Nigeria. The company will soon start exporting to Liberia. &ldquo;Even at a time when the industrial environment is not so good, we have been able to export medicines for the first time in Nepal. If the conditions become better, we can export even more,&rdquo; says Pandey. According to him, there is huge possibility of drug export from Nepal, and Lomus is the proof of it. Lomus contributes to 3.5 per cent of total drug requirement of Nepal. If it runs with full capacity, it can contribute up to ten percent, says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Lomus is a company that started it journey three decades ago, and is one of the topmost pharmaceutical companies of Nepal. The company was ranked number one in terms of value and unit in the year 2000 by IMS Health Switzerland. The company manufactures 270 different medicines, including psychiatric, diabetic, fertility drugs, hormonal and many others. The company&rsquo;s manufacturing plant is in Gothatar, a 72,000 sq feet state of the art facility.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Business Philosophy&nbsp;</span></strong></div>
<div>
	Pandey says that he doesn&rsquo;t want to be involved in many businesses at once. &ldquo;I start new venture only after the earlier one is successful and sustained,&rdquo; says he. After Lomus started to do well, Pandey established Cosmos Cement Industries in Janakpur 12 years ago. &ldquo;The condition was not favourable back then, but still I made it survive. Two years ago, I set up Eastern Cosmos Cement Industry in Biratnagar,&rdquo; informed Pandey. Both the industries manufacture 400 MT of cement per day now. Also, he started manufacturing clinkers from Janakpur that is enough for both the companies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he faced a lot of problems in manufacturing sector, like power outage, labour problems, and government policies among others. &ldquo;The government wasn&rsquo;t also very supportive. So I looked for some other sectors that are unaffected by labour problems,&rdquo; says He. That&rsquo;s when he started Shikhar Insurance Company Ltd, for some financial security. Pandey is also the Chairman of Citizens Bank International Ltd and Mountain Energy Pvt Ltd, a hydropower company. The company has produced five megawatts of energy and it is already connected to the national grid. His another venture, Lomus Herbineria P Ltd manufactures herbal medicines. &ldquo;Nepal has immense potential in manufacturing herbal medicines, that&rsquo;s why I started the company,&rdquo; explains Pandey. The company manufactures herbal medicines for liver, cough syrups, blood purifying medicines, shilajit tablets among others.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he works only in the sectors where he has expertise, and believes all should do this for success. &ldquo;A country can prosper and get renowned through only one brand or one product, like many other countries in the world,&rdquo; says Pandey. He wants his medicines to do the same for Nepal. &ldquo;Nepal can&rsquo;t compete with the world in manufacturing automobiles or other similar products, but we can do that through Herbal medicine. I will focus on that in the future,&rdquo; says he. According to him, herbal medicines can do many things that allopathic medicines cannot, and has comparative advantage. A company should manufacture a unique product, make the company sustain and then should look after branding as it is the key to success of the manufactured product, says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Pradeep Jung Pandey,Vice President of Federation of Nepalese Chambers of Commerce and Industry " src="/userfiles/images/pjp1.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 349px;" />Early Life&nbsp;</span></strong></div>
<div>
	Born to Purna Jung Pandey and Dev Kumari Pandey in Chhetrapati of Kathmandu in 1950, Pandey was basically brought up by his grandfather in a joint family. His father passed away when Pandey was only five years old, so he says he doesn&rsquo;t have much memories of him. &ldquo;My childhood was very simple. There was no TV or entertainment medium of any such sort. I spent my childhood playing with my friends in the streets,&rdquo; recalls Pandey. According to Pandey, he was always an above average student, and used to study quite hard. &ldquo;I have never failed in any examinations since I was a child,&rdquo; says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He did his schooling from JP School and completed his SLC from there. He did his graduation from Public Commerce Campus. As his grandfather had fought in World War II, Pandey initially had thoughts of joining the army. His family inclination was also towards the army owing to the respect and social status. But unfortunately for him, his eyesight wasn&rsquo;t fit for being in the army, and he didn&rsquo;t apply. Today, Pandey thinks of it has a fortunate coincidence. He believes he has served his country more as an industrialist than he could have done as an army man. &ldquo;Helping a country economically is the best you can do for your country,&rdquo; says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">The Start&nbsp;</span></strong></div>
<div>
	After he completed his M Com from TU in the year 1972, he became interested in financial matters and thought of doing business. Instead of trading business, he chose manufacturing. &ldquo;As medicines are one of the most critical things for Nepal, I thought of manufacturing it and opened Lomus Pharmaceuticals,&rdquo; recalls Pandey. Royal Drugs was the only company manufacturing drugs back then. That&rsquo;s when he thought that private companies can also do the same. &ldquo;If you start a general manufacturing company, you will have many competitors. But pharmaceutical is a technical sector, so there is relatively less competition. This was another reason for me to choose the sector,&rdquo; explains he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Personal Side&nbsp;</span></strong></div>
<div>
	Married to Urmila Pandey in 1975, Pandey is father of three sons, Prabal, Pratap and Prajwal. His elder son Prabal is also the MD of Easter Cosmos Cement Industry and also looks after manufacturing at Lomus. Pandey says he is quite religious and spiritual, and believes that we should preserve our tradition and culture. &ldquo;We should follow our own culture as it is our true identity. We should be honest towards our profession, nation and tradition as well,&rdquo; says Pandey. According to him, a successful entrepreneur should also pay attention towards religion and culture.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He starts his day by going for a morning walk at 6, and does some exercise. He is always at his office earlier than his staffs. He says that an entrepreneur should work more than his staffs to sustain his business. In his free time, he is involved in writing articles related to economics. He has also written a few songs, and wants to guide the society towards a positive direction through his work. Pandey is quite an easy going person, and says he receives phone calls from everyone, even from the unknown numbers. &ldquo;It is very easy to get in touch with me,&rdquo; says he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey loves to travel to new places and learn new culture and lifestyle. He says travelling recharges you and fills you with new energy to go on. He is also interested in economic systems of various countries, and has extensively travelled Nepal and India. He has also been to US and many countries of Europe. Pandey only takes vegetarian food three days a week and fasts two days a week. He reserves his Saturdays for his family and relatives, and doesn&rsquo;t get involved in business activities unless it&rsquo;s very urgent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he isn&rsquo;t very conscious about brands, and lives a simple life. He owns a Toyota Rav 4 and Nissan Datsun. Pandey carries an iPhone 5 and Samsung S4. He uses gadgets for the facilities they provide, and says one should be familiar with technology for making his time more productive.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says there are more opportunities than challenges in Nepal. He believes that one should not be over ambitious and know his limits to be successful. &ldquo;Satisfaction is a major thing for running a successful business. One should be an expert in his field and success will surely follow,&rdquo; says Pandey. Pandey firmly believes that dedication, honesty, hard work and a positive mindset are essential for success. &ldquo;Honesty always pays in the long run,&rdquo; says he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he believes in fair competition and coexistence in business. In the future, he wants to diversify his businesses and manufacture better quality products. He also has plans of making his medicine brands renowned in Nepal and even in the international sector. &ldquo;Instead of diverting your focus at many things, one should concentrate on improving the quality of what he already owns,&rdquo; says Pandey.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Pradeep Jung Pandey, MD and Chairman of Lomus Pharmaceuticals Pvt Ltd and Vice President of Federation of Nepalese Chambers of Commerce and Industry is a familiar name in Nepali business sector.',
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			'title' => 'Feedback August 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>Inclusive Growth</strong></div>
<div>
	&nbsp;</div>
<div>
	Inclusive growth came into existence when the developmental models and theories of economic development could not address people from all walks of the society. When one sector developed and prospered, the other remained undeveloped. In the race of economic development, the riches went on getting richer while the poorer went on remaining poorer. Similarly, the difference of classes was clearly visible. In the context of South Asia and especially Nepal, the diversity of ethnicity and caste system was equally diverse in terms of the prosperity and level of development. So, the model of inclusive development for Nepal should be an attempt to bring such marginalised groups of people that have been in poverty and fallen backward in the process of mainstream development, no matter to which caste or ethnic division they belong to. The aim must be the economic prosperity and increased level of human development at the same time for people living in the grassroots.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But, where I think the Nepali politics failed to hit the right chord is, it mostly focused on devolution of state power and territory more than on equal distribution of resources and ways to attain balanced development throughout the country. We focused more on federal models based on identity politics. The identity based federal restructuring alone cannot ensure inclusive development. It more or less takes of economic development that can reach to the majority of people. Though the inclusive development tilts more towards the social development and social inclusion, it cannot be separated from the economic development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Pratikshya Bhandari, Shantinagar, Kathmandu</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Market Presence&nbsp;</strong></p>
</div>
<div>
	I believe Mahindra and Mahindra remains far behind Sworaj and Sonalika tractors in far western and mid western Nepal. One of the reasons behind this is that tractors from Mahindra and Mahindra are priced comparatively higher. Although this brand has worked with Agni Incorporated in Nepal, I don&rsquo;t find it having aggressive and effective marketing policies compared to some of its biggest competitors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Arjun Kshetry via website</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Home Stay&nbsp;</strong></p>
</div>
<div>
	Home stay service initiated in Buraunse, one of the remote villages of Humla district is a praiseworthy initiative to bring tourists to Humla. It would not only allow experiencing the lifestyle and culture of Humlis first hand, but also provide a source of livelihood for local people. The culture, traditions and the scenic beauty of Humla can be a perfect destination to domestic tourists, researchers and also trekkers from abroad. The home stay facility initiated by the Great Himalaya Trail there could lead to an evolution of tourism activities through replication in surrounding villages and the development of tourist friendly attitude in local people. In remote villages similar to those of Humla, people can make tourism their main source of income and create markets for local products. But the development of tourism in villages would not be possible only through local initiative. It must be backed by state policies and projects for the promotion and development of tourism activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Sandesh Niroula, Biratnagar&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Merger Movement&nbsp;</strong></p>
</div>
<div>
	After much talk about the merger of banks and financial institutions, it seems conversation has shifted to the insurance business. Insurance is also another sector where companies have not reached the majority of Nepal&#39;s population. First, the general public is less aware about the benefits of subscribing to life and non life insurance policies. Second, insurance companies too are failing to penetrate the market and create awareness. Moreover, insurance subscription is related to the level of disposable income as a certain amount of monthly income is allocated for insurance premiums. Likewise, in the Nepali market, non-life insurance is still infantile. Apart from large companies, it has hardly reached the consumer level.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In an immature market for insurance products, the regulator has come up with a directive to raise paid-up capital for the companies. Therefore, it would be better to go for a merger and create a synergy effect to work effectively in the market. It would help to create a stronger company with wider reach and larger customer base. But there is not harm if companies choose to increase their capital through other means.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Bimala Nakarmi, Dhobighat, Lalitpur&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>A complete package&nbsp;</strong></p>
</div>
<div>
	I am a regular reader of the New Business Age. I am a finance student and have keen interest in banking and financial issues. The content provided by the magazine is a complete package that benefits enthusiasts like me. I would like to thank the New Business Age team for putting a huge effort on making the magazine an &ldquo;all-economic and all-financial package&rdquo;, where all curious minds have plenty of answers and guidance to their dilemmas. Good luck, and keep it up.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Amit Gnawali, Butwal, via website</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<em><span style="font-size: 11px;">Mail your feedback to P O Box 14197, Kathmandu or Email to editor@newbusinessage.com&nbsp;</span></em></p>
</div>
<div>
	<em><span style="font-size: 11px;">The mail will be edited for the purpose of clarity and brevity.</span></em></div>
<div>
	<hr />
</div>
<p>
	&nbsp;</p>',
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			'description' => 'Inclusive growth came into existence when the developmental models and theories of economic development could not address people from all walks of the society.',
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		'Article' => array(
			'id' => '1675',
			'article_category_id' => '52',
			'title' => 'Bureaucratic Budget',
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	&nbsp;</div>
<div>
	The most positive development of the ordinance budget for FY 2013/14, presented on 14th July by Finance Minister Shankar Koirala, is that it proposes the income and expenditure estimates for the entire fiscal year. The budgets for the last four fiscal years had come in the form of quarterly or half-yearly estimates due to incessant political squabbles among the political parties at play. The government employees enjoyed the pay rise of some 20 per cent and private sector seemed largely contended with some liberal approaches adopted by the budget speech. The criticisms of the &#39;too large a size&#39; and &#39;implementation nightmare&#39; were routine and expected.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But, the saddest part is that this budget in a bid to please everyone with some instant toffees, fails to address the most pressing economic problems faced by Nepal at present. The Nepali economy now faces three very worrisome problems. First, the GDP growth plummets to 3.6 percent, the lowest in the decade. Second, the export-import ratio is at whopping 1:10 and the recorded trade deficit is of the last fiscal year is estimated to be well above Rs 500 billion. If service imports like Nepali students studying abroad, holiday and healthcare trips Nepalis are making abroad are also added it would cross the Rs 600 billon mark. And, the third, the authorities have failed to tame the galloping inflation, that effectively stands between 14 to 16 per cent and the CPI-based one has never gone below 10 percent for several years now.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The deficit budget by more than 25 percent of proposed expenditure even fails to acknowledge the fact that the economy is in grave crisis. It is unable figure out where the growth propellants would come about. The first three priorities of the budget are hydropower development, agriculture and infrastructure development--in that order. But, beyond rhetoric, it fails to enlist true problems and bottlenecks in respective sectors. It says many things about hydropower but fails to make any commitment on what would happen to large joint venture projects like West Seti and Arun III that are pending for years largely for unspecified reasons. Any development of hydropower projects in commercial scale will no meaning unless Nepal and India enter into power trade agreement. Bilaterally beneficial transmission lines and above all a climate of mutuality in investment and power trade are crucial, which could only go ahead if Indian investment is not discouraged. This however doesn&#39;t mean Nepal should sacrifice her interest. For any hydropower project, it would take long to be able to contribute to GDP growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Even if agriculture is deemed to be a growth engine, it is time that the sector came out of platitudes like &#39;modernization, commercialization and marketization&#39; of agriculture. The strategies of government subsidies on seeds and fertilizers adopted for years have never worked for several reasons. The sector now faces new problems like acute shortage of farm labours and sustainable pricing mechanism and value addition of products. If Nepali products were to be promoted regressive customs and other duties should be revised accordingly. But this budget doesn&#39;t even touch upon these newer challenges.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Growth by infrastructure development is highly indirect proposition. The GDP can grow with only very massive investment, not of pork-barrel nature but only in the form output targeted creation of transportation and communication linkages. In view of these realities, it can be easily concluded that the budget doesn&#39;t make any sensible effort to fill the growth gap.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is surprising to see that out of eight, the reducing the trade deficit is listed as the seventh objective. In fact, it should have been the first and the programmes like hydropower development should have been part of export promotion strategy in the long- run. Similarly, inflation control has been an outcome of a perverse nature foreign trade than the domestic trade factors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To see recent, unconventional trends in economy, both in terms of problems and prospects, we needed a clear departure from traditional bureaucratic verbose in national budget. But, this particular budget has indulged more in this outdated practice. This is truly a year of opportunity missed.</div>
<div>
	&nbsp;</div>',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1674',
			'article_category_id' => '39',
			'title' => 'NIC Asia: The Synergy Effect',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal Industrial and Commercial (NIC) Bank and Bank of Asia Nepal (BoAN), two commercial banks, for the first time in the Nepali banking history merged into NIC Asia Bank Limited. The bank started its operation from June 30. The union has made NIC Asia, one of the top five banks of the country in terms of capital size and branch network.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The newly merged bank has Rs 2.31 billion as paid-up capital. Before the merger, NIC and BoAN had Rs 1.31 billion and Rs 2 billion paid-up capitals, respectively. Prabin Basnet, Chief Finance Officer at NIC Asia Bank claimed that the bank now has a reserve surplus of Rs 5 billion, one of the highest in the Nepali banking sphere. The bank&rsquo;s deposit size of Rs 40 billion and credit of Rs 32 billion makes it the fifth largest commercial bank of the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the bank has a customer base of around 275,000, also one of the highest numbers of customers being served by a Nepali bank. Basnet revealed that the bank plans to double the number within a short time. Likewise, the number of branches to cater to this number of customers is 53, spread over various parts of the country. During the merger, 13 branches of both banks operating in close proximity were consolidated and a new corporate office was set up at the Trade Tower in Thapathali. Basnet said that 13 branches to make up the consolidation will be established in new places within a year, making the bank with a network of 66 branches. He further said that the bank will add 10 new branches within three years. He said that this network expansion would help increase the financial accessibility of people in rural areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Basnet said, &ldquo;Everybody (regulator, employees, customers and peer banks) had their eyes on us as two A-class financial institutions were merging for the first time in Nepal. So, it was challenging for us to make it successful and set an example.&rdquo; Within a few weeks of joint operations, Basnet felt that it was a successful endeavour.</div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Prabin Basnet ,Chief Finance Officer, NIC Asia Bank" src="/userfiles/images/Prabin%20Basnet.jpg" style="width: 175px; height: 208px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Prabin Basnet</strong></div>
				<div>
					<em>Chief Finance Officer</em></div>
				<div>
					<em>NIC Asia Bank</em></div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	<strong><span style="font-size: 14px;">Beating the Challenge&nbsp;</span></strong></div>
<div>
	One of the major challenges the bank had to address was streamlining the database of two banks that were operating in two different core banking systems. According to Basnet, NIC was functioning on Pumori software platform while BoAN was operating on Pinnacle software. &ldquo;It was a herculean task to streamline a huge amount of data of both banks into the Pinnacle platform while maintaining integrity. Similarly, re-training the team to make it comfortable with the new platform was another great task during the merger process,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Basnet, a year passed on while completing the technical tasks of merging. &ldquo;Both banks were functioning in different environments and working culture but were sound A-class commercial banks. Handling regular tasks along with special works of the merger was exciting, fun and challenging at the same time,&rdquo; he explained. Basnet said that the hard work of the entire team has paid back. He said that a joint merger integration steering committee was formed under which 16 task forces were created to work out problems and challenges. Similarly, more than 50 staff persons were involved in completing special tasks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The due diligence process was completed through a competitive bidding. &ldquo;The request for proposal we prepared was the most comprehensive due diligence request for proposal. This has set a landmark for due diligence,&rdquo; he said adding that a yearlong homework has helped in meeting the target of merger &ndash; creating a synergy effect. He also said that the effects will be visible right from the first quarter of the new financial year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Marrying the HR&nbsp;</span></strong></div>
<div>
	Managing the human resource to keep everybody happy and create a win-win situation for employees of two merging companies is said to be one of the biggest challenges. According to Basnet, this task has been completed swiftly by NIC Asia.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The two banks had almost 650 employees and they were assured that nobody will have to lose their jobs. Rather, the merger brought about new career development avenues and opportunities. &ldquo;Since the signing of the memorandum of understanding between the two companies for merger, it was clear that employees will not be laid off and the remuneration package they were receiving will not be reduced,&rdquo; Basnet said, &ldquo;As the employees had expectations to work for a better and stronger company, they provided moral support during the entire process.&rdquo; Both the banks soon after the merger decision had started activities to develop bonding between employees with diverse skills working in different work environment and culture.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="NIC ASIA BANK" src="/userfiles/images/NICASIA1.jpg" style="width: 500px; height: 210px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Customers in Transition&nbsp;</span></strong></div>
<div>
	Customers too expected that they would be availed of better services from a new, bigger and better bank, said Basnet. &ldquo;Customers were confident and never questioned the security of their deposits during the transition. They have even encouraged us with a promise to increase the deposit,&rdquo; he added and also committed to provide even better products and services, higher than customer expectations, in the days to come.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Changes in account numbers, cheque books and other structural changes due to the merger was well communicated through media, websites, personalised letters, and customer care centres. Similarly, the interest rates on deposits and credits were streamlined few weeks before the merger took place.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Rebranding&nbsp;</span></strong></div>
<div>
	Basnet said that rebranding and brand building is a challenging task as both banks had a legacy of their own that cannot be easily forgotten. &ldquo;Creating an image of strong and capable banking is challenging. We started the rebranding campaign after a long exercise,&rdquo; he said. The red colour used in the logo of the bank tries to communicate that NIC Asia is attempting to establish itself as an aggressive player in the banking sphere. Basnet said that the new logo also symbolises five principles of the Panchsheel, which are also the internal strategies of the bank.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As a new and rebranded company, NIC Asia plans to move ahead aggressively as a key player in the banking sector. Basnet said that the bank does not need to revamp its products as the range of products and services provided by both the banks were quite innovative ones. However, he hinted that the bank will focus on technology-based products and branchless banking services.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-22',
			'modified' => '0000-00-00',
			'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal,  current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events,  ongoing  corporate foc',
			'description' => 'NIC Asia Bank Limited created a milestone in the Nepali banking sphere through a successful merger of two commercial banks for the first time in Nepali banking history.',
			'sortorder' => '1535',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1673',
			'article_category_id' => '150',
			'title' => 'Business Briefs (19 - 25 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="LG’s Side-by-side Refrigerator" src="/userfiles/images/lg(2).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 95px; height: 100px;" />LG&rsquo;s Side-by-side Refrigerator</span></strong></div>
<div>
	LG has launched a new side-by-side refrigerator in the market. The refrigerator with net capacity of 506 litres and has features like wide hidden touch display, tempered control drawer and glass shelves and water and ice dispenser among others. The freezing compartment comes with express freezing technology and also has interior LED lights.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Micromax 4 " src="/userfiles/images/mx.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 90px; height: 120px;" />Micromax 4 Launched</span></strong></div>
<div>
	Micromax has launched its new smartphone Canvas 4, the latest upgraded version in the Canvas series in the market. Canvas 4 is powered by a 1.2 GHz Quad Core Cortex A7 processor and runs on Android Jelly Bean 4.2 OS. It comes with 1 GB of RAM, 16 GB internal and 32 GB expandable memory. It sports a high definition 5 MP front camera, 13 MP back professional camera, auto focus, 99 burst shots, 4-way panorama and LED flash. It supports video calling and has a 5 inch IPS LCD multi-touch screen.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Pepsi Awards" src="/userfiles/images/20.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 58px;" />Pepsi Awards Winner of 20-20 Campaign</span></strong></div>
<div>
	Pepsi has awarded two million rupees to the winner of its 20-20 promotion campaign. Pepsi gave Rs 7,200,000 to consumers as part of the campaign which ran from June 16 to August 6. According to a press release from the company, the campaign had close to 3, 00,000 participants through SMS and events. The campaign was launched with the slogan &lsquo;Ru Bees Ma Bees Lakh, Jitau Lakhau Lakh&rsquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Springwood’s Season SALE" src="/userfiles/images/springwood(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 41px;" />Springwood&rsquo;s Season SALE</span></strong></div>
<div>
	Springwood, men&rsquo;s garment brand marketed by Surya Nepal Pvt Ltd is offering &lsquo;end of season&rsquo; sale through various outlets throughout Kathmandu and outside as well. The sale offers discounts of 50, 35 and 25 per cent on Springwood&rsquo;s collection of shirts, t-shirts, trousers, jeans, sweaters and sweat shirts. The sale is valid form 15 August to 15 September 2013.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="IME" src="/userfiles/images/ime.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 56px;" />IME launches &lsquo;Dashain Ma SLC&rsquo; Campaign</span></strong></div>
<div>
	International Money Express (IME) has launched a consumer promotion campaign named &lsquo;Dashain Ma SLC with the onset of this year&rsquo;s festive season. During the two month long campaign starting from August 17, 2013, all IME customers coming to IME agent outlets to avail remittance services will get a chance to win various exciting prizes. During the campaign period, IME will give away 60 Samsung smart phones every day, 8 LED TVs every week and a Hyundai Eon as the bumper prize at the end of the campaign.</div>',
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			'created' => '2013-08-20',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'LG has launched a new side-by-side refrigerator in the market.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1672',
			'article_category_id' => '149',
			'title' => 'Steady Manufacturers',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Suraksha Adhikari</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Rajesh Agrawal Director, RMC" src="/userfiles/images/ra.jpg" style="width: 200px; height: 211px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>&nbsp;Rajesh Agrawal</strong></div>
				<div>
					Director, RMC</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Established in 1993, Rajesh Metal Crafts Ltd (RMC) has been a familiar name in the steel and manufacturing business. Initially established as Rajesh Hardware Company, it only imported steel from Japan, Korea and other countries. But with the increase in manufacturing activities in the country, the partners of Rajesh Hardware Company decided to enter the metal business themselves and established RMC.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Named after the Company Director, the venture began as a family business which commenced with the concept of constructing paint packing steel drums with an initial investment of Rs 5 million. With a widening scope for metal business in Nepal over the years, RMC has been expanding business accordingly and is considered as one of the best manufacture service providers in Nepal today.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We had no experience in the manufacturing industry but were confident that the business will surely succeed in time and as per expectations, business expanded with the rising living standards of people,&rdquo; said Director of RMC, Rajesh Agrawal.</div>
<div>
	&nbsp;</div>
<div>
	Explaining the initial phase, Agrawal said, &ldquo;There was no concept of industrialisation during the initial years. Now the country is moving forward in this aspect. Though the Maoist problem had created hindrance mid-way, it has been improving now.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Initially focused on local traders only, RMC also began to export steel to India. Forty per cent of the annual turnover that the company registers today is earned through exports. RMC cement has also recently started exporting from Nepal and is the first company in Nepal to do so.</div>
<div>
	&nbsp;</div>
<div>
	The company has been providing quality products to its consumers including MS black pipe, GI Pipe, Galvanised Corrugated Sheets, GI Sheets, CR sheets and Colour Coated Sheets.</div>
<div>
	&nbsp;</div>
<div>
	Having 150 dealers all over the country, the company faced a couple of hurdles on the way to success. &ldquo;The Maoist problem and political instability are the biggest hindrances to the growth of the company,&rdquo; states Agrawal. Along with this, Agrawal believes that power outage has also created a lot of problems in the production of manufacturing materials.</div>
<div>
	&nbsp;</div>
<div>
	Focusing on positive aspects, Agrawal highlights the growth of consumerism in recent years. &ldquo;With the growth of various aspects of the economy, the affordability of consumers has been increasing. With this, consumerism in steel has also been increasing.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;In villages, people who had thatched roof houses are slowly transforming to steel sheets with a rise in their living standards,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	The per capita steel consumption of Nepal is 30kg per person which is one of the lowest in the world. &ldquo;A stable political condition in the country can boost the steel market,&rdquo; Agrawal added, speaking about the high scope of steel consumption here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	RMC has been a consistent brand for the last 15 years. &nbsp;Talking about market shares, Agwaral said that it is 50 per cent in black pipes, 25 percent in CR sheets and 20 percent in GI pipes. &ldquo;We have aimed to increase exports with value addition to products by forward and backward integration,&rdquo; he stated.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Having started with around 15 employees only, the company now has 480 employees hired. The RMC group also has investments in H&amp;B Development Bank and Prudential Insurance Company.</div>
<div>
	&nbsp;</div>
<div>
	Talking about support from the government Agrawal said, &ldquo;The government has provided tax free provisions for our exports.&rdquo; Full time electricity to all industries would be appreciated but the government is not in the condition to fulfill such requirements. We should take some steps ourselves to solve this problem, &ldquo;he added.</div>
<div>
	&nbsp;</div>
<div>
	Considering the Jagadamba Company in the Pipe industry and Hulas Steels and Arati Steels in GI Sheets as major competitors, the company is well on its own track to provide quality products to consumers with an annual turnover of Rs 5 billion, according to Agrawal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As a part of its promotional campaign and advertisement, the company has been disseminating information through Agrawal Television Commercials, Print advertisements, audio advertisement in FM and scratch coupon schemes for consumers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Fulfilling corporate social responsibility, we have installed water tanks in the villages of the employees of the company, and have been providing free medical treatment for the families of our workers,&rdquo; Agrawal said. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With plans to construct a clinker-based cement industry in Palpa, the company now aims to produce clinkers in Nepal itself &ndash; a product which was thus far only imported from India. &nbsp;</div>',
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			'description' => 'Established in 1993, Rajesh Metal Crafts Ltd (RMC) has been a familiar name in the steel and manufacturing business.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '1671',
			'article_category_id' => '115',
			'title' => 'Tech Briefs (19 - 25 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="fACEBOOK" src="/userfiles/images/FB.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 46px;" />Facebook Eyes Mobile Payment Feature</strong></span></div>
<div>
	Facebook, the world&rsquo;s largest social networking company, is planning to come up with a new mobile payment feature. It will use payment details added by users to their Facebook account to automatically fill in forms when they make purchases on mobile applications. Various companies have been looking to tap into mobile payments markets. However, Facebook said the feature would not involve moving the payment processing away from an app&rsquo;s current service provider.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Smartphones" src="/userfiles/images/SP.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 59px;" />Smartphones Out-sell Basic Handsets</span></strong></div>
<div>
	Smartphone sales exceeded feature phone sales for the first time in the April-to-June period, according to research firm Gartner. Worldwide mobile phone sales touched the figure of 435 million units. Smartphone sales alone accounted for 225 million units, up 46.5 per cent from the previous year. Feature phones end up with 210 million units, down 21 per cent. The highest smartphone growth rates recorded in Asia, Latin America and Eastern Europe, the firm said. However, a competing firm, IDC, said this milestone had already been reached in the first three months of 2013.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="NASA" src="/userfiles/images/NASA.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />NASA Sending World&rsquo;s First 3-D Printer into Space</span></strong></div>
<div>
	NASA is set to launch world&rsquo;s first zero-G-ready 3D printer into space next year, during its resupply mission to the International Space Station, so that parts can be built on-demand in space. Space manufacturing company Made in Space&rsquo;s customised 3D printer will be the first device to manufacture parts away from planet Earth, researchers said. The 3D printing in Zero-G Experiment will validate the capability of additive manufacturing in zero-gravity. &nbsp;&ldquo;Imagine an astronaut needing to make a life-or-death repair on the International Space Station,&rdquo; said Aaron Kemmer, CEO of Made in Space on the company&rsquo;s website. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Apple" src="/userfiles/images/APL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 53px;" />Icahn Buys Stake in &lsquo;Undervalued&rsquo; Apple</span></strong></div>
<div>
	Billionaire investor Carl Icahn says he has built up a &ldquo;large&rdquo; stake in Apple. Mr Icahn says Apple shares are &ldquo;extremely undervalued&rdquo; and wants Apple to carry out a bigger share buyback. In April, Apple said it would return $100bn (&pound;65bn) to shareholders by the end of 2015, by raising its dividend and buying back shares. Mr Icahn said he had a &ldquo;nice&rdquo; conversation with Apple&rsquo;s chief executive Tim Cook and plans to speak to him again shortly. In response, Apple said in a statement: &ldquo;We appreciate the interest and investment of all our shareholders. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Office 365 " src="/userfiles/images/365.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 59px;" />Microsoft Releases Office 365 for Android&nbsp;</span></strong></div>
<div>
	Microsoft has released a version of its office programme Office 365 designed to be used on smartphones with the Google operating system Android. The app was initially available only for US users through the Google Play Store but is being gradually activated in more countries. The app allows documents from Excel, Word and PowerPoint to be viewed on mobile devices, edited in limited fashion and shared in the cloud service SkyDrive. Those who subscribe to Office 365 can download the software for free.&nbsp;</div>
<div>
	&nbsp;</div>',
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			'description' => 'Facebook, the world’s largest social networking company, is planning to come up with a new mobile payment feature.',
			'sortorder' => '1532',
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	(int) 14 => array(
		'Article' => array(
			'id' => '1670',
			'article_category_id' => '159',
			'title' => '‘Family Comes First For Me’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt=" Umang Rana,General Manager , Webster Properties" src="/userfiles/images/ur.jpg" style="width: 200px; height: 220px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>&nbsp;Umang Rana</strong></div>
				<div>
					<em>GM,Webster Properties</em></div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	He starts his day early and amid hustle bustle of daily city life, he never forgets to teach his son about values and the importance of nature in life.</div>
<div>
	&nbsp;</div>
<div>
	Meet the General Manager of Webster Properties, Umang Rana for whom separating hectic professional and personal life is not a daunting task, which he is maintaining for several years.</div>
<div>
	&nbsp;</div>
<div>
	While interacting with The Corporate correspondent Suraksha Adhikari, he says, &ldquo;Family comes first for me and work will go on accordingly&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Defiant from other senior professionals who hardly get time to spend time with their family members due to officials wrangling, Rana customized his lifestyle maintaining every minute responsibility carefully in office as well as at home.</div>
<div>
	&nbsp;</div>
<div>
	A big time sports lover and his fascination towards driving cars and bikes give him a reason to live like king size.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;My son is growing up and he has so many queries in his mind. I listen and talk to him which has been my favourite pass time,&rdquo; he says.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He proved himself as a good manager of time and therefore he succeeded in maintaining a balance between his personal and professional life. For him a person can do good business only after his or her family is adequately taken care of.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;I never bring office at home and even avoid taking calls unless it is very urgent. I prefer to spend quality time with my family because they give me strength to work hard next day,&rdquo; Rana said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He says, &ldquo;I love spending some quality time with my son and wife and try to make frequent dining with them to break the monotony. It makes us happy and developed a sense of responsibility and bonding in each other&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Interestingly, on vacation he is very particular about the places and always tries to visit those places and countries which will educate them especially his son about the place and its historic value.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We plan as per our son interest and we try to visits those places which are serene and calm. I prefer to be with the nature, but as my son is small and I prefer those places which will give some education to him,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	A nature lover has a long list of his favorite holiday destination starting from Hawaii, Latin America to Eastern Europe. He recently visited to Dubai in June with his family and could resist to share his experience during his stay.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	An avid sport lover, Rana rates himself as master of all and jack of none in sports. &ldquo;Still football and cricket is on my top list,&rdquo; he admitted.</div>
<div>
	&nbsp;</div>
<div>
	He prefers not to engross too much on social networking and spend some time in watching and even for a long drive with his family for a rendezvous with nature.</div>',
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Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
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		'Article' => array(
			'id' => '1684',
			'article_category_id' => '40',
			'title' => 'Towards Prosperous  Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	What are the elements that shape the country&rsquo;s transition from volatile politics to stable democracy? All too often, policy analysts focus on the political process, while neglecting the vital role of economic reform in determining democratic success or failure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the last decade, high unemployment and lack of entrepreneurial opportunities posed serious challenges to Nepal&rsquo;s transition. On the other hand, the country faced growing unresolved grievances caused by issues such as misappropriation of private property, rampant corruption and widening inequality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yet, there is silver lining. Despite a decade-long political turmoil and armed conflict, the country&rsquo;s economy was successful enough to maintain its basic economic indicators in a positive direction. It is for sure that the country will go through a long and complex journey before the current political transition will settle to form a stable democracy. The question remains as to how to unleash economic prosperity in the current situation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Many believe that the country can achieve prosperity if elections are held on time as political parties will agree on a common economic agenda to take the country into a prosperous future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government on July 14 announced the annual budget of Rs 517.24 billion for the Fiscal Year 2013-14 through an ordinance. This is the first time in two years that a government budget has been announced for the entire fiscal year before the fiscal year begins. The budget of the current fiscal year gives special emphasis on elections to the Constituent Assembly by earmarking Rs 16 billion to hold the CA election. The budget has also emphasised on sustainable development along with economic growth and stability.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government is heading towards a dream of achieving the status of a &lsquo;developing country&rsquo; by 2022 through a three-year plan. Many suspect whether the Nepali economy can begin the journey of prosperity in the given circumstances. The experience of the last decade, however, shows that the country can achieve things if the CA election is held on time and if political parties are united on a common economic agenda.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Despite political instability, Nepal has witnessed a noticeable growth in all sectors during the last decade. In recent years, many banks and money transfer businesses have grown. Nepal was one of the highest receivers of remittance on the basis of the Gross Domestic Product (GDP) in 2011.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Between 1980-2012, Nepal&rsquo;s Human Development Index (HDI) rose by 3.8 percent annually from 0.234 to 0.463 today, which ranks the country 157 out of 187 countries with comparable data.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal is one of the 189 countries committed to the Millennium Development Goals (MDGs), a pledge renewed in its three year plan (2010-2013). The data from MDG progress report for Nepal 2010 prepared in partnership between the government of Nepal and the UN country team indicates that Nepal may be able to achieve most of its MDG targets by 2015.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are noticeable improvements in other economic indicators too. The national poverty line has gone down to 25 percent, net enrollment rate has increased to 93.7 percent, under five mortality has reduced to 50 per 1000 live births and maternal mortality has reduced to 229 per 100,000 live births which is almost reduction by half in 10 years&rsquo; time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Be it the health and education sector or the manufacturing and industrial sector, the country has succeeded to achieve remarkable progress despite political instability during the last decade.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Improvements in health services have resulted in a decline in the mortality rate. The declining mortality rate coupled with high fertility rate has resulted in rapid population growth. Control of malaria and other epidemics and the expansion of medical and public health facilities also reduce morbidity and mortality in the country. School enrollments of both boys and girls at all levels have increased.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are rays of hope also in the hydropower sector too. Currently a power deficit country will be a power surplus one by 2018 if all ongoing projects will be completed within a stipulated time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Around a dozen of hydropower projects including 556 MW Upper Tamakoshi, 50 MW Upper Marsyngdi, 60 MW Trishuli 3A and 42 MW Upper Modi along with others are under construction. These projects are supposed to end existing massive power outage problem and lead the country into the era of industrialisation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	During the conflict era, the tourism sector suffered a lot resulting in the closure of some renowned five-star hotels. The conflict also tarnished the image of the country in the global scene. However, the entire tourism sector has started to revive now and it is certainly no surprise that hotels have mushroomed in recent years. As the number of tourists and foreign business travelers in Nepal are growing in step with its economy, Nepal&rsquo;s rapidly maturing hotel industry is one of the key beneficiaries. The tourism sector has given much to the Nepali business community to cheer.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The total contribution of the travel and tourism sector to the GDP stood at RS. 119.1 billion in 2011, according to the World Travel and Tourism Council and was forecasted to rise by 4.8 percent in 2012 and by 4.1 percent per annum to NRP 185.5 by 2022.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Some of the road construction projects that are under the works raise hope in the realm of infrastructure development. Tripura Sundari to Satbanjha (25 km), Satbhanja to Gokuleshwar (54 km), Khodpe to Kalinga Bridge, Chainpur (62 km) are some major projects to connect rural Nepal by road access.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	These projects would lead to a 6 percent increase in the number of people with all-season road access and a 35 percent decrease in travel time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Educating and uplifting the status of the vulnerable and marginalised children, women empowerment through community-based livelihood enhancement projects is a tool to leap forward. Programmes of integrated rural development and nature conservation in the mountain region of Chitwan district is worth mentioning for steady rural reconstruction in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Not only the telecom sector but also the entire Information and Communication Technology (ICT) sector has been witnessing a remarkable growth after the political revolution in 1990. Both growth and expansion of the ICT sector has lured many brands and companies to invest in the country. The monopoly of the state-owned Nepal Telecom has ended and many players have emerged in the telecom and ICT business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Today, all districts of the country have telecom facilities and consumers are using state-of-art technology and sophisticated devices to prove themselves tech-savvy. The government and private sectors are mulling to utilise ICT to boost the economy by using its maximum potential to promote all sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In recent years, the agricultural sector has also gained attention from the government as well as the private sector. The government&rsquo;s plan to modernise agriculture, ease the distribution of chemical fertilizers, step up the construction of irrigation projects would at least decrease the country&rsquo;s dependency on import for the agro-products, making the country self-reliant.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Green Kathmandu, Clean Bagmati campaign will lift the face of the river flowing through the capital. The Melamchi Drinking Water Project will solve the problem of acute shortage of water in the Kathmandu valley.&nbsp;</div>
<div>
	It is always said that the youth are not just leaders of tomorrow but partners of today.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The population of youth between the age of 15 and 29 is 6.131 million in Nepal. This accounts for 26.5 percent of the total population. Consolidating youth for prosperous development should be the main responsibility of the state, private sectors, and civil society.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The nation should take advantage of young talent and energy, simultaneously solving problems of violence, instability and abusive behaviour. Considering these facts, it is necessary to invest energy and capacity embodied in the youngsters in a constructive way for the development of our country by making the rural youth competent and responsible.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Since we are going through a post conflict period, the state machinery should not neglect this mass. The government should come up with a plan to engage these large numbers of youth in creative and entrepreneurial ventures. This is the need of hour of our country. Also, it is the only way to enhance our youth with their energy and efforts.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a country like Nepal, real development Let us dream together that one day the rural youth of Nepal will be able to lead not only the development process but also play a vital role in the economic, cultural and political sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As in an essay by noted litterateur Laxmi Prasad Devkota entitled &lsquo;Is Nepal Insignificant?&rsquo; where he eloquently writes about the prospects of Nepal, this country has tremendous potential for economic growth. But all we need to boost the country&rsquo;s economy are commitment from the political leadership, positive thinking of the general public and sincere and genuine efforts from the private sector.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-23',
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			'description' => 'In an ideal situation, we have hopes of becoming Switzerland. In reality, our conversation begins with negative news. It seems Nepalis are very enthusiastic to change the country but put in little effort for their own part',
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	(int) 1 => array(
		'Article' => array(
			'id' => '1683',
			'article_category_id' => '57',
			'title' => 'Establishing A Noodle’s Brand',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Noodles have become a Nepali staple. With so many new brands in the market, competition for consumer loyalty is fierce. The first homegrown manufacturer, in the early eighties, was Gandaki Noodles of Pokhara, which introduced Rara (named after a mountain lake). Then, around 1985, Wai Wai, manufactured by the Chaudhary group, entered the market with a brown, spicy, precooked noodle, which became an instant crowd pleaser in the urban centers. Along with this another brand RumPum appeared the market in late 90s.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the past few years many players have entered the field, and today committed noodle fans can choose from a couple of dozen brands, manufactured by a dozen companies. Along with this, eating a noodle has been a culture among Nepalis and the business is doing well in the market as well. Here the question is&mdash;what makes noodle business sustainable among customers and in the market?&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Entrepreneurs believe that powerful branding and quality of a product are two major factors that sustain a product. Noodle industries, too, are supportive to this fact. Every noodle industry, acknowledging this, involves itself in different branding strategies: be it a selection of catchy tags in a product or introducing different lucrative schemes or holding promotional campaigns directly targeting the potential consumers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To attract consumers, RumPum had run various consumer schemes including the initial highly successful offer of putting a toffee along with each Rumpum. &ldquo;We are very conscious about the brands. We have a very strong research department and an international quality lab to check our products regularly to uphold our standards,&rdquo; shares Mahesh Jaju, Managing Director of Asian Thai Foods. Jaju adds, &ldquo;Promotional campaigns play a vital role to gain favor of the consumers.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With this increasing demand among cunsomers Rum Pum ran a massive media campaingn in late 90s targeting the 8-18 years children.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the similar manner, Wai-Wai too adopted different branding policies to establish its products. GP Sah, Vice President, FMCG Division at Chaudhary Group admits that the initial days were not easy sailing. He says, &ldquo;The branding process had to be robust and scientific. We needed to be prepared for new brands that may come in the market and start competing with us. Our campaign&mdash;Hami Sabaiko Wai Wai-- certainly helped us in this regard and made the branding process quite easy.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Wai Wai also went through different other schemes as scholarship to children at schools and vitamin fortification in noodles. Wai wai focused more on making the noodle healthier by adding healthy ingredients such as vitamin.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though other brands too did something similar&mdash;vitamin fortification as well as scholarships--but that of Wai Wai had a lasting effect. While other brands provided scholarship to the students in a lump sum onetime cash payment, Wai Wai paid the money to the schools of the scholarship recipients and started collecting their progress reports. &ldquo;We provided the scholarship amount in installments at regular interval so that it can have a lasting effect in the educational career of students,&rdquo; explains Sah.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	These all show that a brand exists only through excessive branding. Noodles are great snack foods. Most the younger generation people have 10 rupees in their pocket.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-23',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biztoon or voices news & articles, biztoon or voices news & articles from new business age nepal, biztoon or voices headlines from nepal,  current and latest biztoon or voices news from nepal, economic news from nepal, nepali biztoon or voices economic news and events,  ongoing bizt',
			'description' => 'Noodles have become a Nepali staple. With so many new brands in the market, competition for consumer loyalty is fierce. The first homegrown manufacturer, in the early eighties, was Gandaki Noodles of Pokhara, which introduced Rara (named after a mountain lake).',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1682',
			'article_category_id' => '41',
			'title' => 'Hotel: Rediscovery Of A Lucrative Sector',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal has again become a very lucrative country for hotel business. A number of leading global hotel chains have already declared to expand their presence in Nepal while many others are planning to enter in this small Himalaya country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Multinational hotel brands Sheraton (the largest and second oldest brand of Starwood Hotels and Resorts Worldwide) and Marriott International (a leading hotel chain based in Maryland, US) recently announced the decision to enter Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shesh Ghale, the Australia-based Nepali millionaire businessman, has entered into joint venture with Sheraton to operate a five-star hotel in Kathmandu. His MIT Group Holding Nepal recently signed an agreement with Starwood Hotels and Resort Worldwide Inc and set the project rolling.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Slated to open in February 2018, the 225-room Sheraton Kathmandu Hotel will be managed by Starwood Hotels &amp; Resorts. This project will bring around Aus $ 75-80 million in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similalry, Maliram Shivakumar (MS) Group has signed an agreement with Marriot International, a globally renowned chain of hotels, to open a four-star hotel in Nepal. Named &ldquo;Fairfield Marriott Kathmandu&rdquo;, the hotel will be located in Thamel which will start its commercial service in the beginning of 2016 with around Rs 650 million investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Various other 5- star hotels like Sambala Holdings at Maharajgunj, Chhaya Devi Complex at Thamel and Shree G Hotel are also planning to start soon. Similarly, luxurious hotels have also been established outside Kathmandu valley mainly in Pokhara, Bhairahawa, Lumbini and Nepalgunj.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the tourism industry&rsquo;s growth in Nepal, it is certainly no surprise that the hotels have mushroomed in recent years. As the number of tourists and foreign business travelers in Nepal are growing, Nepal&rsquo;s rapidly maturing hotel industry is one of the key beneficiaries. The country is booming the world of five-star hotels offering best services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Apart from 5 stars hotels, the hotels labeled as 4- star, 3- star, 2- star, other informal hotels and even home stay system have been witnessing rise in the investment with the increasing number of tourists in Nepal. Though selected number of tourists emphasize on their living standards also during their visit, most of the tourists entertain themselves on spending money on recreational activities rather than their lodging which is the main cause of flourishing the business of non star hotels and home stays.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Number of Hotels in Nepal" src="/userfiles/images/no%20of%20hotels(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 159px;" />Rising Investment&nbsp;</span></strong></div>
<div>
	According to the statistics provided by Nepal Rastra Bank, the total investment in hotel sector in Nepal till the date is Rs 16.91 billion. About 75 per cent of the entire investment in tourism sector is being done in hotel sector. The data shows that yearly investment in hotel sector only in 18 per cent while only 18 per cent of investment can be seen in other sectors of tourism.</div>
<div>
	&nbsp;</div>
<div>
	As a positive impact of Nepal Tourism Year 2011, the investment in hotel industry have started to boom. Stars hotels in Kathmandu are investing over Rs1 billion to build up their capacity and upgrade the facilities. Most of four stars hotels in the country are working hard upgrading themselves by adding new rooms and uplifting their amenities. It was crucial for such investments in hotel industry to cope up with the increasing numbers of tourist entering into Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the information from Ministry of Tourism and Civil Aviation, the hotels in Nepal have the capacity to accommodate around one million tourists at present. Similarly hotels are boosting up their occupancy level to accommodate the expected number of tourist.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The existing five star property Hotel Soaltee Crowne Plaza has renovated 130 rooms. It is replacing the TVs in all its rooms with 42 inch-LCD TVs. Similarly Radisson has already added 100 rooms. According to the hotel, the new rooms will be spacious and have contemporary looks, lighting and furniture. Hotel Yak &amp; Yeti is giving a new look to 150 rooms in the Durbar Wing while the Everest has renovated 40 of its 160 rooms. Hotel Annapurna is now working to refurbish its 150 rooms. The record number of tourist in year 2010 has made hoteliers optimistic to pick up the pace.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Home Stay in Nepal" src="/userfiles/images/hotel1.jpg" style="width: 500px; height: 319px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Home Stay System&nbsp;</span></strong></div>
<div>
	The concept of home stay program is considered to be the best alternative to hotel accommodation in the hospitality industry. Basically home stay systems are planned to increase the flow of tourists in the villages or the remote areas where the hotels are not established. But these days the home stay systems are also being urban centered. Around 60 per cent of investments of home stay system are being done around the city in the areas like Kavre, Sitapaila, Dhulikhel etc.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Tourist Inflow in Nepal" src="/userfiles/images/tourist%20inflow(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 209px;" />Tourists&rsquo; inflow&nbsp;</span></strong></div>
<div>
	According to the data provided by economic survey FY 2012, Ministry of Finance, the rate of tourist arrival in Nepal has increased by 9.08 per cent by 2011 to 2012. A total of 7,36,215 tourist entered to Nepal in the year 2011 which increased to 8,03,092 in 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the number of tourist visiting to Nepal has been increasing, their average stay in Nepal has been decreased by 0.25 percent this year.</div>
<div>
	With the increment of tourist in the country, the hotel industry doesn&rsquo;t have to see backward. Experts in the hospitality industry opine that the establishment of hotel in the area becomes the major root for the urbanization. Prasidha Bahadur Panday, former president of Hotel Association of Nepal (HAN) said that the hotel business will flourish more in upcoming days as the tourist offer first priority to lodging. The government of Nepal has prioritized tourism sector and started implementation its announcement to provide the same facilities to this sector as provided to any industry</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-23',
			'modified' => '0000-00-00',
			'keywords' => 'new business age sectoral news & articles, sectoral news & articles from new business age nepal, sectoral headlines from nepal,  current and latest sectoral news from nepal, economic news from nepal, nepali sectoral economic news and events,  ongoing  sectoral news of nepal',
			'description' => 'Nepal has again become a very lucrative country for hotel business. A number of leading global hotel chains have already declared to expand their presence in Nepal while many others are planning to enter in this small Himalaya country.',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1681',
			'article_category_id' => '42',
			'title' => 'Budget Prospects Pulled Market Above 500',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>By Bikram Chitrakar</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="STOCK TAKING" src="/userfiles/images/sectors(2).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 905px;" />The benchmark Nepse index stretched 10.85 points or 2.14% to close at review period high of 506.45 while the low was on 23rd June with 487.63.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The index climbed back to nearly four months high surpassing the previous resistance level of 500. Investor&rsquo;s expectation of the full budget for fiscal year 2013-14 was the main reason.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the review period, the market also experienced positive supply shock. Initial public offering (IPO) of Mega Bank Nepal, right issue of Nepal Bank Ltd and some other IPOs and right issues absorbed the liquidity. This put pressure on the investors to sale off their stocks to unfreeze the funds for investment in the primary issues. Further, fiscal year-end tightening on margin loan from the financial institutions played its role to make the investors to offload some shares. Still the market saw an overall positive growth indicating further growth in the days ahead.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Rumours that Nepal Rastra Bank is all set to instruct financial institutions for raising paid-up capital acted as a spur to lift banking stocks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, Sitaram Thapaliya has been appointed as the General Manager of Nepal Stock Exchange. The position was lying vacant since January 2013 after the tenure of Shankar Man Singh came to an end. Assuming office, Thapaliya said he would try to upgrade the online trading platform to facilitate the traders beyond located outside Kathmandu valley and abroad.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Performance by Sector&nbsp;</div>
<div>
	During review period, insurance sub-index added 29.79 points. That was followed by 29.37 points up in the &lsquo;others&rsquo; sector on the back of gain in the price of Nepal Telecom. Hotels sector went up 18.22 points or 2.75 percent to 662.85. Commercial banking sector posted growth of 9.74 points. However, manufacturing sector receded 7.74 points to 868.72 while hydropower sector plummeted 1.87 points to rest at 1041.43.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sensitive index that measures the performance of 120 blue chip companies went up 2.21 points to 126.12 while the float index which is calculated on the basis of real transaction went uphill 0.26 points to 35.75. A total turnover of Rs. 1,817,767,779 was realized during the review period from 8.530,819 units of shares traded via 25,787 transactions.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As usual, the commercial bank has occupied the 77.65% of total volume of trade. Hydropower sector accounted 12.84%, insurance covered 9.57% and rest was made up by other remaining sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Technically, the Simple Moving Average (SMA) has been outcast by Nepse index while the index has crossed the level of 500. The 30 days SMA and 200 days SMA are in tight range suggesting resistance test at this level.</div>
<div>
	(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-23',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'The benchmark Nepse index stretched 10.85 points or 2.14% to close at review period high of 506.45 while the low was on 23rd June with 487.63.',
			'sortorder' => '1542',
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	(int) 4 => array(
		'Article' => array(
			'id' => '1680',
			'article_category_id' => '37',
			'title' => 'Gold And So-Called Regulated Gold Market In Nepal!',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Chittaranjan Pandey</strong></div>
<div>
	&nbsp;</div>
<div>
	Gold is a very important component of the human lives on the earth today. Gold not only has the metallic value but also has been used as a hedge against several risks in the human life. Today gold is used from medicines to luxury. The use of gold carries lots of historical and mythological values beyond the regular usage we talked about.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<div>
		अग्नेः प्रजातं परि यत् हिरण्यम्</div>
	<div>
		अमृतं दघे अधिमत्र्येषु</div>
	<div>
		यएनव्देद स इदेनमर्हति</div>
	<div>
		जरार्मृत्युर्भवति यो बिभर्ति ।।</div>
	<div>
		&nbsp; &nbsp; &nbsp; &nbsp;&ndash; अथर्व वेद, काण्ड १९, सूक्त २६, ऋचा १</div>
</div>
<div>
	&nbsp;</div>
<div>
	The above lines from Atharvaveda mean &ldquo;I adorn gold created or originated from fire which bestows eternity. One who adorns it is liberated from the fear of untimely death.&rdquo; This signifies how gold has gained so much of significance for us. To go deep with the importance of gold, the yellow metal is believed to be the most sattvik, meaning holy, divine or serene. It is also believed that gold destroys most of the harmful germs in our body and using gold enhances the absorption of divine energy to greater extent. Specifically, in case of women, it is believed that when women put on gold ornaments, the shakti-roop is activated and the whole family is protected.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The above mentioned reasons only signify why gold has received so much of mythological importance. Coming to these days, when people have started to take themselves above the cultural and traditional barriers, most of the things do not have the same shape. Yet, gold is successful enough to declare its commercial importance and has been luring people almost every corner of the world.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	When I talk about gold, how can I miss out talking about its importance in the currency management worldwide? Gold has played an important role in backing up the currency worldwide for long but these days, the scenario is different. We usually hear about the inverse relation of gold and US dollar. To explore the same, we need to dig back further. It was long back during the World War I when the warring nations shifted their money to a miniscule gold standard, thus bloating their own currencies to finance the war. Gold backed currency system thus lasted for long but the problem it invited was that all the countries wanted to deposit more gold to strengthen their currency which resulted major economic shocks. Coming to the era of Second World War also, the world was still tangled with the hard power and humanitarian crisis. But after the Second World War, Bretton Woods conference was organized and International Bank for Reconstruction and Development (IBRD-present World Bank) and International Monetary Fund (IMF) - called Bretton Woods Institutions were formed. Gold standard and the direct convertibility of the currencies were eradicated. Because United States was the most dominant power after the war, US Dollar was backed by gold and almost all other currencies in the world accepted US dollar to back up their currencies. Besides that, gold is held by many in various forms as a hedge against inflation and other economic disruptions. One of the most common forms of usage of gold in our society is the jewelry. Gold itself is very inert so gold salts are used for various medicinal purposes also. Gold salts are used for the treatment of arthritis; gold based injections heal and minimize the pain and swelling of rheumatoid arthritis and tuberculosis. Gold is also important in dentistry helping for restorations. Other very important use of the gold is for electroplating of gold onto base metals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After we go through the various usage forms of the precious yellow metal, we can explore why this stands as a luring metal in the market to earn maximum profit in various ways. The news heating the market these days is that the gold price is decreasing rampantly but domestic price of the gold in Nepal is not responding to it well. When there is a price hike, gold traders in our country do not wait a second to raise the price but when it is falling, the traders do not want to sell any gold to the people. Isn&rsquo;t this pathetic regulation? More frustratingly, the strike of the gold traders broke with an interesting end- &ldquo;Not penalizing the guilty&rdquo;. The gold traders would start selling gold only when the government assures that the thug is not penalized.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Please have a look at table to know how the price of gold is derived and how much of profit our gold traders earn:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For instance, I have taken the price of gold on 26th June, 2013, the moment when price was US$1223.20 per ounce.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Through various newspaper articles, people must be aware that the market demand for gold remains around 40 kg per day whereas traders believe that the daily consumption of gold in the market remains around 30 kg on an average. On the contrary, Nepal Rastra Bank sells only 15 kg of gold daily in the market through various assigned commercial banks. On an average, there is a deficit supply of almost 15 kg. We all know gold market is REGULATED in Nepal. So let&rsquo;s not focus much on where the remaining gold to meet the market demand comes from. Rather I would like to explore with the economic benefit from the gold trading only. Even if we deduct Rs. 1000 per 10 grams as the additional costs, insurance cost- which is too much in itself and usually comes to almost half of that amount, the profit of the traders is Rs. 1085.23 per 10 grams. This means in one kilogram of gold, the traders earn Rs. 1,08,523.00 on an average. Similarly, for the official 15 kg of gold, the total earning of the traders become Rs. 16,27,845.00 on an average. These numbers will keep on growing if we intend to show their weekly and monthly income.&nbsp;</div>
<div>
	&nbsp;</div>
<table align="center" bgcolor="#E5E4E2" border="0" cellpadding="10" cellspacing="0" style="width: 500px;" td="">
	<caption>
		<strong><span style="font-size: 14px;">Gold Price Calculation</span></strong></caption>
	<tbody>
		<tr>
		</tr>
		<tr>
			<td>
				<strong>Particulars</strong></td>
			<td>
				<strong>Price (NRs.)</strong></td>
			<td>
				<strong>Remarks</strong></td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Per Ounce (As per Reuters)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">1223.20 (USD)</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">NPR/USD Selling Rate (As per NRB)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">95.51</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Gold Rate in USD (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">391.35</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">(((1223.20*0.995))/31.1)*10</span></strong></td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">In NPR (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">37,224.77</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">(392.24*95.51)</span></strong></td>
		</tr>
		<tr>
			<td>
				<div>
					<strong><span style="font-size: 11px;">Add Customs</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">(As per Republica Article)</span></strong></div>
			</td>
			<td>
				<strong><span style="font-size: 11px;">3000</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Total (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">40,224.77</span></strong></td>
			<td>
				<div>
					<strong><span style="font-size: 11px;">(Adding Price in NPR</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">and Customs)</span></strong></div>
			</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Market Price (NEGOSIDA)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">42,310.00</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Difference in Price (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">2085.23</span></strong></td>
			<td>
				<div>
					<strong><span style="font-size: 11px;">(Additional Cost, Insurance</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">and Profi t)</span></strong></div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>
<div>
	The story does not end here. When we look into the real scenario, if jewelry is made out of 10 gram gold, 1 gram of other metal, besides gold,is used on an average for the bonding and many other purposes. This means that when a customer buys 10 gram of gold, s/he actually purchases only 9 grams of gold on an average. Besides that, when the price of gold increases internationally, the increment in price is implemented so promptly but when the price of gold decreases internationally, the case is different. It takes a long time for the authorized traders&rsquo; association to adjust the decreased price of gold. This clearly shows that the ethics is slumping in the REGULATED gold market of the country. Moreover, the traders go on strike, the shops are closed when price goes down as if there is no gold supply in the market which is totally against the economic theory. Other things remaining the same, the price of a commodity goes down only when the supply of the commodity increases. Unethical cartel is rampant in the gold market here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Is there no option to this? Globally, the option to this is the authorized commodity exchange which can deliver gold to the public cheaper than the other sellers. People can buy gold from the exchange and ask the jewelry shops to make the jewelry as per their requirement or they can also trade back the gold on their will. A remarkable benefit from the exchange is that people do not have to wait for hours or days for the gold price adjustments, the adjustments happen promptly in the software of exchange. Quality of the gold is not compromised; it is the same that the Nepal Rastra Bank authenticates, because the exchange will buy gold from the banks only. On the same price level given in the example above, the exchange can deliver gold at price below Rs. 41,200 per 10 grams. Isn&rsquo;t this profitable to customers? This will exactly be the WIN-WIN situation for both the counterparties.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	What the country is lacking is the regulatory framework and the market is lacking the business ethics on the whole, thus losing the customers&rsquo; faith and confidence from the market. Isn&rsquo;t it high time government starts taking commodity exchange as an alternative to maintain market equilibrium?</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 11px;"><em>(Pandey is Assistant Manager, Research &amp; Development Department at MEX Nepal Ltd.)</em></span></div>
<div>
	&nbsp;</div>
<div>
	<em>Disclaimer: The views and expressions expressed in the article are entirely personal and my employer has nothing to do with it. This is an informational piece of writing and has no intention to provoke any individual, group or entity.</em></div>
<div>
	&nbsp;</div>',
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			'description' => 'Gold is a very important component of the human lives on the earth today. Gold not only has the metallic value but also has been used as a hedge against several risks in the human life.',
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		'Article' => array(
			'id' => '1679',
			'article_category_id' => '31',
			'title' => '‘Our Clients Include Major Multinationals As Well As Small SMEs’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Hayden Davies</strong>&nbsp;is the Director of BM TRADA, a specialist testing, inspection and certification business. BM TRADA was established nearly 80 years ago in the United Kingdom that now has 40 offices in 33 different countries. Originally a civil engineer, Hayden has been with BM TRADA since 1994 and has managed a number of the business streams. In an interview with New Business Age, Hayden shared the importance of certification in industries in Nepal.&nbsp;<strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you tell us the reasons for your visit to Nepal?&nbsp;</strong></div>
<div>
	Firstly, we had to attend the annual general meeting of our company that was decided to be held in Kathmandu. Secondly, we had to meet our staff, Indian partners and clients in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is BM TRADA all about?&nbsp;</strong></div>
<div>
	BM TRADA provides certification, testing, inspection, training and technical services around the world . We are very honest in the areas we work in. We are specialists in furniture technology and testing, timber technology and have general expertise as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Who are the target clients?&nbsp;</strong></div>
<div>
	Our clients range from major multinationals to the very small SMEs. Currently, the Chilime hydropower project, ten colleges, some BFIs (Banks and Financial Institutions), textile industries are some of our clients in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How does this certification help organizations in Nepal?&nbsp;</strong></div>
<div>
	In general, it possibly helps them to operate more efficiently. Basically, having an ISO 9000 management system means the organization is more efficient and less prone to mistakes. When a mistake occurs, it will be corrected because there is a recognized system. Secondly, it helps to reassure clients of the company&#39;s performance. When a client sees an organization&#39;s management system certified by an international body, they can rest assured of good returns. The certification is also constantly reassessed. We review the system every year to check on it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you view the overall qualification of organizations in Nepal?&nbsp;</strong></div>
<div>
	The development of organizations in Nepal has been strong. They have commitment and enthusiasm to quality and that is good. What I say to these clients is -- it is very important not just to maintain the system but adding value continuously, which adds value to your business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How are you expanding your market in South Asia? What is the strategy?&nbsp;</strong></div>
<div>
	We are growing our business in South Asia and work in two ways -- the first way is through subsidiaries or in joint venture, which we might own 100 percent. In India, it is a joint venture. These subsidiaries help the company to expand further. For example, BM TRADA India has now expanded to Bangladesh, Sri- Lanka and Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the second way, we hire local representatives whose every decision made is reviewed in detail in our head office in the UK. All the controls are set within our office in UK. That is how we control and maintain quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you see the future of certification in Nepal?&nbsp;</strong></div>
<div>
	It has lots of prospects. Certification is a big opportunity for companies to prove their credentials in an international stage and display international recognition to the buyers. The company demands to make buyers confident about the products while the buyers demand that the product they are buying is of reasonable quality. I think certification will grow in Nepal because it is a prerequisite for international pride.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-23',
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			'description' => 'Hayden Davies is the Director of BM TRADA, a specialist testing, inspection and certification business.',
			'sortorder' => '1540',
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		'Article' => array(
			'id' => '1678',
			'article_category_id' => '46',
			'title' => '‘Banks Contribute By Dispensing Credit And Absorbing The Additional Income Of People’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">The Everest Bank Pvt. Ltd. (EBL) appointed&nbsp;</span><strong style="font-size: 14px;">AK Ahluwalia</strong><span style="font-size: 14px;">&nbsp;as its new chief executive officer effective from July 1. Founded in 1994, the bank has been one of the leading banks of the country catering to various segments of society. Ahluwalia, who has 32 years of experience in the banking sector, was deputy general manager of the Punjab National Bank, India. He has key expertise in credit and recovery in the banking system and now leads the Everest Bank which has 50 branches, 25 collection counters and 67 ATMs. In this interview with&nbsp;</span><strong style="font-size: 14px;">Siromani Dhungana</strong><span style="font-size: 14px;">&nbsp;of New Business Age, shares his experiences in banking sector and his plans in Nepal to lead Everest Bank into the next level.&nbsp;</span><strong style="font-size: 14px;">Excerpts:</strong></div>
<div>
	<div>
		&nbsp;</div>
	<div>
		<strong>You worked with the Punjab National Bank for 32 years. How do you see the banking sector in the South Asian region?&nbsp;</strong></div>
	<div>
		In my view, there is one thing common to the entire region which is the general slowdown of the economy. The inflationary trend also affects the cost of goods produced, thus making them uncompetitive in the international market. As a result, exports slow down. There is also a general tendency on the part of entrepreneurs to procrastinate in expanding their existing units or setting up new industries due to the slow economy.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>So you think the manufacturing sector and the banking sector will go well together?&nbsp;</strong></div>
	<div>
		I believe so. When the manufacturing sector is on an upswing, more capacity is created and utilized, more jobs are created and the standard of living of employees improve. People&#39;s purchasing power improves, in turn increasing demand. This is a cycle which continues and contributes in a big way to boost the economy. Banks contribute in their own way by dispensing credit and also by absorbing the additional income of people as deposits, and investing the same.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>You were with the Punjab National Bank in Delhi before coming Everest Bank Limited. What inspired you to be here?&nbsp;</strong></div>
	<div>
		I have worked for 32 years in the Punjab National Bank, having joined as Management Trainee. During my time there, I worked in all types of branches as branch manager and also at the corporate office as well as the circle office. Now I have a chance to work as CEO at Everest Bank Ltd, which is a prominent commercial bank in Nepal. It is my privilege to be a part of this institution and it would be my endeavour to carry it forward and try and make the bank stronger within the framework of regulatory guidelines.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>What are your future plans here onward?&nbsp;</strong></div>
	<div>
		Everest Bank has been doing exceeding well. It has created a unique brand image for itself. Over a period of time, it has become one of the leading commercial banks of Nepal. I believe when you have raised expectations of your stake holders, whether customers, staff, shareholders or promoters, you have to live up to them. It takes a lot to create the brand image and it would be my priority to add further value to it. I have a great team of people working with me who are fully devoted to take the bank to the next level.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Will you bring unique products/services to push the bank to the next level?&nbsp;</strong></div>
	<div>
		I have been CEO of the bank only for a fortnight and it is too early to comment. However, my priority would be to increase the customer base of the bank, both in deposits as well as credit. The existing products are, and also in future would be, in keeping with the customers&rsquo; needs and expectations.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Let&rsquo;s talk about your career and what your banking experience has taught you.&nbsp;</strong></div>
	<div>
		My banking experience has taught me one very simple thing - that if I want my customers to be loyal to me, I have to be loyal to them. When we give correct advice to our customers and deliver exactly what we promise, their loyalty automatically grows.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Your key expertise is in credit and recovery. Can you bring some innovative ideas in these areas?&nbsp;</strong></div>
	<div>
		Credit is basically a function of delivery. For a credit customer, delivery has to be very fast. As far as recovery is concerned, it is basically about being vigilant. If we are vigilant about our accounts, and if the monitoring is good, then recovery is not an issue. Primarily, if we are able to catch signal of an account going sticky at the right time, then corrective measures can be taken immediately.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Any plans for the rural sector?&nbsp;</strong></div>
	<div>
		Prior to my joining EBL, the bank already had plans for agriculture financing, having set up a branch at Rajbiraj, Krishi Udhyam Bikash Sakha. We are also encouraging some corporate clients to boost finances in rural areas.</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'The Everest Bank Pvt. Ltd. (EBL) appointed AK Ahluwalia as its new chief executive officer',
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			'id' => '1677',
			'article_category_id' => '47',
			'title' => 'A Visionary Vanguard',
			'sub_title' => '',
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			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sujan Tiwari</strong></div>
<div>
	&nbsp;</div>
<div>
	Pradeep Jung Pandey, MD and Chairman of Lomus Pharmaceuticals Pvt Ltd and Vice President of Federation of Nepalese Chambers of Commerce and Industry is a familiar name in Nepali business sector. But Pandey didn&rsquo;t always have thoughts of becoming a businessperson and wanted to join the army as a young man. A simple twist of fate turned him into business, and today, Pandey has many companies and industries under him and is one of the most successful Nepali business personalities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Lomus Pharmaceuticals has recently become the first company to export medicines from Nepal, and has exported medicines worth around 25,000 USD to Nigeria. The company will soon start exporting to Liberia. &ldquo;Even at a time when the industrial environment is not so good, we have been able to export medicines for the first time in Nepal. If the conditions become better, we can export even more,&rdquo; says Pandey. According to him, there is huge possibility of drug export from Nepal, and Lomus is the proof of it. Lomus contributes to 3.5 per cent of total drug requirement of Nepal. If it runs with full capacity, it can contribute up to ten percent, says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Lomus is a company that started it journey three decades ago, and is one of the topmost pharmaceutical companies of Nepal. The company was ranked number one in terms of value and unit in the year 2000 by IMS Health Switzerland. The company manufactures 270 different medicines, including psychiatric, diabetic, fertility drugs, hormonal and many others. The company&rsquo;s manufacturing plant is in Gothatar, a 72,000 sq feet state of the art facility.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Business Philosophy&nbsp;</span></strong></div>
<div>
	Pandey says that he doesn&rsquo;t want to be involved in many businesses at once. &ldquo;I start new venture only after the earlier one is successful and sustained,&rdquo; says he. After Lomus started to do well, Pandey established Cosmos Cement Industries in Janakpur 12 years ago. &ldquo;The condition was not favourable back then, but still I made it survive. Two years ago, I set up Eastern Cosmos Cement Industry in Biratnagar,&rdquo; informed Pandey. Both the industries manufacture 400 MT of cement per day now. Also, he started manufacturing clinkers from Janakpur that is enough for both the companies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he faced a lot of problems in manufacturing sector, like power outage, labour problems, and government policies among others. &ldquo;The government wasn&rsquo;t also very supportive. So I looked for some other sectors that are unaffected by labour problems,&rdquo; says He. That&rsquo;s when he started Shikhar Insurance Company Ltd, for some financial security. Pandey is also the Chairman of Citizens Bank International Ltd and Mountain Energy Pvt Ltd, a hydropower company. The company has produced five megawatts of energy and it is already connected to the national grid. His another venture, Lomus Herbineria P Ltd manufactures herbal medicines. &ldquo;Nepal has immense potential in manufacturing herbal medicines, that&rsquo;s why I started the company,&rdquo; explains Pandey. The company manufactures herbal medicines for liver, cough syrups, blood purifying medicines, shilajit tablets among others.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he works only in the sectors where he has expertise, and believes all should do this for success. &ldquo;A country can prosper and get renowned through only one brand or one product, like many other countries in the world,&rdquo; says Pandey. He wants his medicines to do the same for Nepal. &ldquo;Nepal can&rsquo;t compete with the world in manufacturing automobiles or other similar products, but we can do that through Herbal medicine. I will focus on that in the future,&rdquo; says he. According to him, herbal medicines can do many things that allopathic medicines cannot, and has comparative advantage. A company should manufacture a unique product, make the company sustain and then should look after branding as it is the key to success of the manufactured product, says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Pradeep Jung Pandey,Vice President of Federation of Nepalese Chambers of Commerce and Industry " src="/userfiles/images/pjp1.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 349px;" />Early Life&nbsp;</span></strong></div>
<div>
	Born to Purna Jung Pandey and Dev Kumari Pandey in Chhetrapati of Kathmandu in 1950, Pandey was basically brought up by his grandfather in a joint family. His father passed away when Pandey was only five years old, so he says he doesn&rsquo;t have much memories of him. &ldquo;My childhood was very simple. There was no TV or entertainment medium of any such sort. I spent my childhood playing with my friends in the streets,&rdquo; recalls Pandey. According to Pandey, he was always an above average student, and used to study quite hard. &ldquo;I have never failed in any examinations since I was a child,&rdquo; says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He did his schooling from JP School and completed his SLC from there. He did his graduation from Public Commerce Campus. As his grandfather had fought in World War II, Pandey initially had thoughts of joining the army. His family inclination was also towards the army owing to the respect and social status. But unfortunately for him, his eyesight wasn&rsquo;t fit for being in the army, and he didn&rsquo;t apply. Today, Pandey thinks of it has a fortunate coincidence. He believes he has served his country more as an industrialist than he could have done as an army man. &ldquo;Helping a country economically is the best you can do for your country,&rdquo; says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">The Start&nbsp;</span></strong></div>
<div>
	After he completed his M Com from TU in the year 1972, he became interested in financial matters and thought of doing business. Instead of trading business, he chose manufacturing. &ldquo;As medicines are one of the most critical things for Nepal, I thought of manufacturing it and opened Lomus Pharmaceuticals,&rdquo; recalls Pandey. Royal Drugs was the only company manufacturing drugs back then. That&rsquo;s when he thought that private companies can also do the same. &ldquo;If you start a general manufacturing company, you will have many competitors. But pharmaceutical is a technical sector, so there is relatively less competition. This was another reason for me to choose the sector,&rdquo; explains he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Personal Side&nbsp;</span></strong></div>
<div>
	Married to Urmila Pandey in 1975, Pandey is father of three sons, Prabal, Pratap and Prajwal. His elder son Prabal is also the MD of Easter Cosmos Cement Industry and also looks after manufacturing at Lomus. Pandey says he is quite religious and spiritual, and believes that we should preserve our tradition and culture. &ldquo;We should follow our own culture as it is our true identity. We should be honest towards our profession, nation and tradition as well,&rdquo; says Pandey. According to him, a successful entrepreneur should also pay attention towards religion and culture.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He starts his day by going for a morning walk at 6, and does some exercise. He is always at his office earlier than his staffs. He says that an entrepreneur should work more than his staffs to sustain his business. In his free time, he is involved in writing articles related to economics. He has also written a few songs, and wants to guide the society towards a positive direction through his work. Pandey is quite an easy going person, and says he receives phone calls from everyone, even from the unknown numbers. &ldquo;It is very easy to get in touch with me,&rdquo; says he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey loves to travel to new places and learn new culture and lifestyle. He says travelling recharges you and fills you with new energy to go on. He is also interested in economic systems of various countries, and has extensively travelled Nepal and India. He has also been to US and many countries of Europe. Pandey only takes vegetarian food three days a week and fasts two days a week. He reserves his Saturdays for his family and relatives, and doesn&rsquo;t get involved in business activities unless it&rsquo;s very urgent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he isn&rsquo;t very conscious about brands, and lives a simple life. He owns a Toyota Rav 4 and Nissan Datsun. Pandey carries an iPhone 5 and Samsung S4. He uses gadgets for the facilities they provide, and says one should be familiar with technology for making his time more productive.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says there are more opportunities than challenges in Nepal. He believes that one should not be over ambitious and know his limits to be successful. &ldquo;Satisfaction is a major thing for running a successful business. One should be an expert in his field and success will surely follow,&rdquo; says Pandey. Pandey firmly believes that dedication, honesty, hard work and a positive mindset are essential for success. &ldquo;Honesty always pays in the long run,&rdquo; says he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he believes in fair competition and coexistence in business. In the future, he wants to diversify his businesses and manufacture better quality products. He also has plans of making his medicine brands renowned in Nepal and even in the international sector. &ldquo;Instead of diverting your focus at many things, one should concentrate on improving the quality of what he already owns,&rdquo; says Pandey.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Pradeep Jung Pandey, MD and Chairman of Lomus Pharmaceuticals Pvt Ltd and Vice President of Federation of Nepalese Chambers of Commerce and Industry is a familiar name in Nepali business sector.',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1676',
			'article_category_id' => '50',
			'title' => 'Feedback August 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>Inclusive Growth</strong></div>
<div>
	&nbsp;</div>
<div>
	Inclusive growth came into existence when the developmental models and theories of economic development could not address people from all walks of the society. When one sector developed and prospered, the other remained undeveloped. In the race of economic development, the riches went on getting richer while the poorer went on remaining poorer. Similarly, the difference of classes was clearly visible. In the context of South Asia and especially Nepal, the diversity of ethnicity and caste system was equally diverse in terms of the prosperity and level of development. So, the model of inclusive development for Nepal should be an attempt to bring such marginalised groups of people that have been in poverty and fallen backward in the process of mainstream development, no matter to which caste or ethnic division they belong to. The aim must be the economic prosperity and increased level of human development at the same time for people living in the grassroots.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But, where I think the Nepali politics failed to hit the right chord is, it mostly focused on devolution of state power and territory more than on equal distribution of resources and ways to attain balanced development throughout the country. We focused more on federal models based on identity politics. The identity based federal restructuring alone cannot ensure inclusive development. It more or less takes of economic development that can reach to the majority of people. Though the inclusive development tilts more towards the social development and social inclusion, it cannot be separated from the economic development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Pratikshya Bhandari, Shantinagar, Kathmandu</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Market Presence&nbsp;</strong></p>
</div>
<div>
	I believe Mahindra and Mahindra remains far behind Sworaj and Sonalika tractors in far western and mid western Nepal. One of the reasons behind this is that tractors from Mahindra and Mahindra are priced comparatively higher. Although this brand has worked with Agni Incorporated in Nepal, I don&rsquo;t find it having aggressive and effective marketing policies compared to some of its biggest competitors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Arjun Kshetry via website</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Home Stay&nbsp;</strong></p>
</div>
<div>
	Home stay service initiated in Buraunse, one of the remote villages of Humla district is a praiseworthy initiative to bring tourists to Humla. It would not only allow experiencing the lifestyle and culture of Humlis first hand, but also provide a source of livelihood for local people. The culture, traditions and the scenic beauty of Humla can be a perfect destination to domestic tourists, researchers and also trekkers from abroad. The home stay facility initiated by the Great Himalaya Trail there could lead to an evolution of tourism activities through replication in surrounding villages and the development of tourist friendly attitude in local people. In remote villages similar to those of Humla, people can make tourism their main source of income and create markets for local products. But the development of tourism in villages would not be possible only through local initiative. It must be backed by state policies and projects for the promotion and development of tourism activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Sandesh Niroula, Biratnagar&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Merger Movement&nbsp;</strong></p>
</div>
<div>
	After much talk about the merger of banks and financial institutions, it seems conversation has shifted to the insurance business. Insurance is also another sector where companies have not reached the majority of Nepal&#39;s population. First, the general public is less aware about the benefits of subscribing to life and non life insurance policies. Second, insurance companies too are failing to penetrate the market and create awareness. Moreover, insurance subscription is related to the level of disposable income as a certain amount of monthly income is allocated for insurance premiums. Likewise, in the Nepali market, non-life insurance is still infantile. Apart from large companies, it has hardly reached the consumer level.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In an immature market for insurance products, the regulator has come up with a directive to raise paid-up capital for the companies. Therefore, it would be better to go for a merger and create a synergy effect to work effectively in the market. It would help to create a stronger company with wider reach and larger customer base. But there is not harm if companies choose to increase their capital through other means.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Bimala Nakarmi, Dhobighat, Lalitpur&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>A complete package&nbsp;</strong></p>
</div>
<div>
	I am a regular reader of the New Business Age. I am a finance student and have keen interest in banking and financial issues. The content provided by the magazine is a complete package that benefits enthusiasts like me. I would like to thank the New Business Age team for putting a huge effort on making the magazine an &ldquo;all-economic and all-financial package&rdquo;, where all curious minds have plenty of answers and guidance to their dilemmas. Good luck, and keep it up.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Amit Gnawali, Butwal, via website</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<em><span style="font-size: 11px;">Mail your feedback to P O Box 14197, Kathmandu or Email to editor@newbusinessage.com&nbsp;</span></em></p>
</div>
<div>
	<em><span style="font-size: 11px;">The mail will be edited for the purpose of clarity and brevity.</span></em></div>
<div>
	<hr />
</div>
<p>
	&nbsp;</p>',
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			'description' => 'Inclusive growth came into existence when the developmental models and theories of economic development could not address people from all walks of the society.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1675',
			'article_category_id' => '52',
			'title' => 'Bureaucratic Budget',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The most positive development of the ordinance budget for FY 2013/14, presented on 14th July by Finance Minister Shankar Koirala, is that it proposes the income and expenditure estimates for the entire fiscal year. The budgets for the last four fiscal years had come in the form of quarterly or half-yearly estimates due to incessant political squabbles among the political parties at play. The government employees enjoyed the pay rise of some 20 per cent and private sector seemed largely contended with some liberal approaches adopted by the budget speech. The criticisms of the &#39;too large a size&#39; and &#39;implementation nightmare&#39; were routine and expected.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But, the saddest part is that this budget in a bid to please everyone with some instant toffees, fails to address the most pressing economic problems faced by Nepal at present. The Nepali economy now faces three very worrisome problems. First, the GDP growth plummets to 3.6 percent, the lowest in the decade. Second, the export-import ratio is at whopping 1:10 and the recorded trade deficit is of the last fiscal year is estimated to be well above Rs 500 billion. If service imports like Nepali students studying abroad, holiday and healthcare trips Nepalis are making abroad are also added it would cross the Rs 600 billon mark. And, the third, the authorities have failed to tame the galloping inflation, that effectively stands between 14 to 16 per cent and the CPI-based one has never gone below 10 percent for several years now.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The deficit budget by more than 25 percent of proposed expenditure even fails to acknowledge the fact that the economy is in grave crisis. It is unable figure out where the growth propellants would come about. The first three priorities of the budget are hydropower development, agriculture and infrastructure development--in that order. But, beyond rhetoric, it fails to enlist true problems and bottlenecks in respective sectors. It says many things about hydropower but fails to make any commitment on what would happen to large joint venture projects like West Seti and Arun III that are pending for years largely for unspecified reasons. Any development of hydropower projects in commercial scale will no meaning unless Nepal and India enter into power trade agreement. Bilaterally beneficial transmission lines and above all a climate of mutuality in investment and power trade are crucial, which could only go ahead if Indian investment is not discouraged. This however doesn&#39;t mean Nepal should sacrifice her interest. For any hydropower project, it would take long to be able to contribute to GDP growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Even if agriculture is deemed to be a growth engine, it is time that the sector came out of platitudes like &#39;modernization, commercialization and marketization&#39; of agriculture. The strategies of government subsidies on seeds and fertilizers adopted for years have never worked for several reasons. The sector now faces new problems like acute shortage of farm labours and sustainable pricing mechanism and value addition of products. If Nepali products were to be promoted regressive customs and other duties should be revised accordingly. But this budget doesn&#39;t even touch upon these newer challenges.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Growth by infrastructure development is highly indirect proposition. The GDP can grow with only very massive investment, not of pork-barrel nature but only in the form output targeted creation of transportation and communication linkages. In view of these realities, it can be easily concluded that the budget doesn&#39;t make any sensible effort to fill the growth gap.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is surprising to see that out of eight, the reducing the trade deficit is listed as the seventh objective. In fact, it should have been the first and the programmes like hydropower development should have been part of export promotion strategy in the long- run. Similarly, inflation control has been an outcome of a perverse nature foreign trade than the domestic trade factors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To see recent, unconventional trends in economy, both in terms of problems and prospects, we needed a clear departure from traditional bureaucratic verbose in national budget. But, this particular budget has indulged more in this outdated practice. This is truly a year of opportunity missed.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The most positive development of the ordinance budget for FY 2013/14, presented on 14th July by Finance Minister Shankar Koirala, is that it proposes the income and expenditure estimates for the entire fiscal year.',
			'sortorder' => '1536',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1674',
			'article_category_id' => '39',
			'title' => 'NIC Asia: The Synergy Effect',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal Industrial and Commercial (NIC) Bank and Bank of Asia Nepal (BoAN), two commercial banks, for the first time in the Nepali banking history merged into NIC Asia Bank Limited. The bank started its operation from June 30. The union has made NIC Asia, one of the top five banks of the country in terms of capital size and branch network.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The newly merged bank has Rs 2.31 billion as paid-up capital. Before the merger, NIC and BoAN had Rs 1.31 billion and Rs 2 billion paid-up capitals, respectively. Prabin Basnet, Chief Finance Officer at NIC Asia Bank claimed that the bank now has a reserve surplus of Rs 5 billion, one of the highest in the Nepali banking sphere. The bank&rsquo;s deposit size of Rs 40 billion and credit of Rs 32 billion makes it the fifth largest commercial bank of the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the bank has a customer base of around 275,000, also one of the highest numbers of customers being served by a Nepali bank. Basnet revealed that the bank plans to double the number within a short time. Likewise, the number of branches to cater to this number of customers is 53, spread over various parts of the country. During the merger, 13 branches of both banks operating in close proximity were consolidated and a new corporate office was set up at the Trade Tower in Thapathali. Basnet said that 13 branches to make up the consolidation will be established in new places within a year, making the bank with a network of 66 branches. He further said that the bank will add 10 new branches within three years. He said that this network expansion would help increase the financial accessibility of people in rural areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Basnet said, &ldquo;Everybody (regulator, employees, customers and peer banks) had their eyes on us as two A-class financial institutions were merging for the first time in Nepal. So, it was challenging for us to make it successful and set an example.&rdquo; Within a few weeks of joint operations, Basnet felt that it was a successful endeavour.</div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Prabin Basnet ,Chief Finance Officer, NIC Asia Bank" src="/userfiles/images/Prabin%20Basnet.jpg" style="width: 175px; height: 208px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Prabin Basnet</strong></div>
				<div>
					<em>Chief Finance Officer</em></div>
				<div>
					<em>NIC Asia Bank</em></div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	<strong><span style="font-size: 14px;">Beating the Challenge&nbsp;</span></strong></div>
<div>
	One of the major challenges the bank had to address was streamlining the database of two banks that were operating in two different core banking systems. According to Basnet, NIC was functioning on Pumori software platform while BoAN was operating on Pinnacle software. &ldquo;It was a herculean task to streamline a huge amount of data of both banks into the Pinnacle platform while maintaining integrity. Similarly, re-training the team to make it comfortable with the new platform was another great task during the merger process,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Basnet, a year passed on while completing the technical tasks of merging. &ldquo;Both banks were functioning in different environments and working culture but were sound A-class commercial banks. Handling regular tasks along with special works of the merger was exciting, fun and challenging at the same time,&rdquo; he explained. Basnet said that the hard work of the entire team has paid back. He said that a joint merger integration steering committee was formed under which 16 task forces were created to work out problems and challenges. Similarly, more than 50 staff persons were involved in completing special tasks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The due diligence process was completed through a competitive bidding. &ldquo;The request for proposal we prepared was the most comprehensive due diligence request for proposal. This has set a landmark for due diligence,&rdquo; he said adding that a yearlong homework has helped in meeting the target of merger &ndash; creating a synergy effect. He also said that the effects will be visible right from the first quarter of the new financial year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Marrying the HR&nbsp;</span></strong></div>
<div>
	Managing the human resource to keep everybody happy and create a win-win situation for employees of two merging companies is said to be one of the biggest challenges. According to Basnet, this task has been completed swiftly by NIC Asia.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The two banks had almost 650 employees and they were assured that nobody will have to lose their jobs. Rather, the merger brought about new career development avenues and opportunities. &ldquo;Since the signing of the memorandum of understanding between the two companies for merger, it was clear that employees will not be laid off and the remuneration package they were receiving will not be reduced,&rdquo; Basnet said, &ldquo;As the employees had expectations to work for a better and stronger company, they provided moral support during the entire process.&rdquo; Both the banks soon after the merger decision had started activities to develop bonding between employees with diverse skills working in different work environment and culture.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="NIC ASIA BANK" src="/userfiles/images/NICASIA1.jpg" style="width: 500px; height: 210px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Customers in Transition&nbsp;</span></strong></div>
<div>
	Customers too expected that they would be availed of better services from a new, bigger and better bank, said Basnet. &ldquo;Customers were confident and never questioned the security of their deposits during the transition. They have even encouraged us with a promise to increase the deposit,&rdquo; he added and also committed to provide even better products and services, higher than customer expectations, in the days to come.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Changes in account numbers, cheque books and other structural changes due to the merger was well communicated through media, websites, personalised letters, and customer care centres. Similarly, the interest rates on deposits and credits were streamlined few weeks before the merger took place.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Rebranding&nbsp;</span></strong></div>
<div>
	Basnet said that rebranding and brand building is a challenging task as both banks had a legacy of their own that cannot be easily forgotten. &ldquo;Creating an image of strong and capable banking is challenging. We started the rebranding campaign after a long exercise,&rdquo; he said. The red colour used in the logo of the bank tries to communicate that NIC Asia is attempting to establish itself as an aggressive player in the banking sphere. Basnet said that the new logo also symbolises five principles of the Panchsheel, which are also the internal strategies of the bank.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As a new and rebranded company, NIC Asia plans to move ahead aggressively as a key player in the banking sector. Basnet said that the bank does not need to revamp its products as the range of products and services provided by both the banks were quite innovative ones. However, he hinted that the bank will focus on technology-based products and branchless banking services.</div>
<div>
	&nbsp;</div>',
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			'description' => 'NIC Asia Bank Limited created a milestone in the Nepali banking sphere through a successful merger of two commercial banks for the first time in Nepali banking history.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1673',
			'article_category_id' => '150',
			'title' => 'Business Briefs (19 - 25 August 2013)',
			'sub_title' => '',
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			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="LG’s Side-by-side Refrigerator" src="/userfiles/images/lg(2).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 95px; height: 100px;" />LG&rsquo;s Side-by-side Refrigerator</span></strong></div>
<div>
	LG has launched a new side-by-side refrigerator in the market. The refrigerator with net capacity of 506 litres and has features like wide hidden touch display, tempered control drawer and glass shelves and water and ice dispenser among others. The freezing compartment comes with express freezing technology and also has interior LED lights.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Micromax 4 " src="/userfiles/images/mx.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 90px; height: 120px;" />Micromax 4 Launched</span></strong></div>
<div>
	Micromax has launched its new smartphone Canvas 4, the latest upgraded version in the Canvas series in the market. Canvas 4 is powered by a 1.2 GHz Quad Core Cortex A7 processor and runs on Android Jelly Bean 4.2 OS. It comes with 1 GB of RAM, 16 GB internal and 32 GB expandable memory. It sports a high definition 5 MP front camera, 13 MP back professional camera, auto focus, 99 burst shots, 4-way panorama and LED flash. It supports video calling and has a 5 inch IPS LCD multi-touch screen.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Pepsi Awards" src="/userfiles/images/20.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 58px;" />Pepsi Awards Winner of 20-20 Campaign</span></strong></div>
<div>
	Pepsi has awarded two million rupees to the winner of its 20-20 promotion campaign. Pepsi gave Rs 7,200,000 to consumers as part of the campaign which ran from June 16 to August 6. According to a press release from the company, the campaign had close to 3, 00,000 participants through SMS and events. The campaign was launched with the slogan &lsquo;Ru Bees Ma Bees Lakh, Jitau Lakhau Lakh&rsquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Springwood’s Season SALE" src="/userfiles/images/springwood(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 41px;" />Springwood&rsquo;s Season SALE</span></strong></div>
<div>
	Springwood, men&rsquo;s garment brand marketed by Surya Nepal Pvt Ltd is offering &lsquo;end of season&rsquo; sale through various outlets throughout Kathmandu and outside as well. The sale offers discounts of 50, 35 and 25 per cent on Springwood&rsquo;s collection of shirts, t-shirts, trousers, jeans, sweaters and sweat shirts. The sale is valid form 15 August to 15 September 2013.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="IME" src="/userfiles/images/ime.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 56px;" />IME launches &lsquo;Dashain Ma SLC&rsquo; Campaign</span></strong></div>
<div>
	International Money Express (IME) has launched a consumer promotion campaign named &lsquo;Dashain Ma SLC with the onset of this year&rsquo;s festive season. During the two month long campaign starting from August 17, 2013, all IME customers coming to IME agent outlets to avail remittance services will get a chance to win various exciting prizes. During the campaign period, IME will give away 60 Samsung smart phones every day, 8 LED TVs every week and a Hyundai Eon as the bumper prize at the end of the campaign.</div>',
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			'description' => 'LG has launched a new side-by-side refrigerator in the market.',
			'sortorder' => '1534',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1672',
			'article_category_id' => '149',
			'title' => 'Steady Manufacturers',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Suraksha Adhikari</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Rajesh Agrawal Director, RMC" src="/userfiles/images/ra.jpg" style="width: 200px; height: 211px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>&nbsp;Rajesh Agrawal</strong></div>
				<div>
					Director, RMC</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Established in 1993, Rajesh Metal Crafts Ltd (RMC) has been a familiar name in the steel and manufacturing business. Initially established as Rajesh Hardware Company, it only imported steel from Japan, Korea and other countries. But with the increase in manufacturing activities in the country, the partners of Rajesh Hardware Company decided to enter the metal business themselves and established RMC.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Named after the Company Director, the venture began as a family business which commenced with the concept of constructing paint packing steel drums with an initial investment of Rs 5 million. With a widening scope for metal business in Nepal over the years, RMC has been expanding business accordingly and is considered as one of the best manufacture service providers in Nepal today.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We had no experience in the manufacturing industry but were confident that the business will surely succeed in time and as per expectations, business expanded with the rising living standards of people,&rdquo; said Director of RMC, Rajesh Agrawal.</div>
<div>
	&nbsp;</div>
<div>
	Explaining the initial phase, Agrawal said, &ldquo;There was no concept of industrialisation during the initial years. Now the country is moving forward in this aspect. Though the Maoist problem had created hindrance mid-way, it has been improving now.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Initially focused on local traders only, RMC also began to export steel to India. Forty per cent of the annual turnover that the company registers today is earned through exports. RMC cement has also recently started exporting from Nepal and is the first company in Nepal to do so.</div>
<div>
	&nbsp;</div>
<div>
	The company has been providing quality products to its consumers including MS black pipe, GI Pipe, Galvanised Corrugated Sheets, GI Sheets, CR sheets and Colour Coated Sheets.</div>
<div>
	&nbsp;</div>
<div>
	Having 150 dealers all over the country, the company faced a couple of hurdles on the way to success. &ldquo;The Maoist problem and political instability are the biggest hindrances to the growth of the company,&rdquo; states Agrawal. Along with this, Agrawal believes that power outage has also created a lot of problems in the production of manufacturing materials.</div>
<div>
	&nbsp;</div>
<div>
	Focusing on positive aspects, Agrawal highlights the growth of consumerism in recent years. &ldquo;With the growth of various aspects of the economy, the affordability of consumers has been increasing. With this, consumerism in steel has also been increasing.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;In villages, people who had thatched roof houses are slowly transforming to steel sheets with a rise in their living standards,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	The per capita steel consumption of Nepal is 30kg per person which is one of the lowest in the world. &ldquo;A stable political condition in the country can boost the steel market,&rdquo; Agrawal added, speaking about the high scope of steel consumption here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	RMC has been a consistent brand for the last 15 years. &nbsp;Talking about market shares, Agwaral said that it is 50 per cent in black pipes, 25 percent in CR sheets and 20 percent in GI pipes. &ldquo;We have aimed to increase exports with value addition to products by forward and backward integration,&rdquo; he stated.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Having started with around 15 employees only, the company now has 480 employees hired. The RMC group also has investments in H&amp;B Development Bank and Prudential Insurance Company.</div>
<div>
	&nbsp;</div>
<div>
	Talking about support from the government Agrawal said, &ldquo;The government has provided tax free provisions for our exports.&rdquo; Full time electricity to all industries would be appreciated but the government is not in the condition to fulfill such requirements. We should take some steps ourselves to solve this problem, &ldquo;he added.</div>
<div>
	&nbsp;</div>
<div>
	Considering the Jagadamba Company in the Pipe industry and Hulas Steels and Arati Steels in GI Sheets as major competitors, the company is well on its own track to provide quality products to consumers with an annual turnover of Rs 5 billion, according to Agrawal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As a part of its promotional campaign and advertisement, the company has been disseminating information through Agrawal Television Commercials, Print advertisements, audio advertisement in FM and scratch coupon schemes for consumers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Fulfilling corporate social responsibility, we have installed water tanks in the villages of the employees of the company, and have been providing free medical treatment for the families of our workers,&rdquo; Agrawal said. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With plans to construct a clinker-based cement industry in Palpa, the company now aims to produce clinkers in Nepal itself &ndash; a product which was thus far only imported from India. &nbsp;</div>',
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			'description' => 'Established in 1993, Rajesh Metal Crafts Ltd (RMC) has been a familiar name in the steel and manufacturing business.',
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			'id' => '1671',
			'article_category_id' => '115',
			'title' => 'Tech Briefs (19 - 25 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="fACEBOOK" src="/userfiles/images/FB.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 46px;" />Facebook Eyes Mobile Payment Feature</strong></span></div>
<div>
	Facebook, the world&rsquo;s largest social networking company, is planning to come up with a new mobile payment feature. It will use payment details added by users to their Facebook account to automatically fill in forms when they make purchases on mobile applications. Various companies have been looking to tap into mobile payments markets. However, Facebook said the feature would not involve moving the payment processing away from an app&rsquo;s current service provider.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Smartphones" src="/userfiles/images/SP.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 59px;" />Smartphones Out-sell Basic Handsets</span></strong></div>
<div>
	Smartphone sales exceeded feature phone sales for the first time in the April-to-June period, according to research firm Gartner. Worldwide mobile phone sales touched the figure of 435 million units. Smartphone sales alone accounted for 225 million units, up 46.5 per cent from the previous year. Feature phones end up with 210 million units, down 21 per cent. The highest smartphone growth rates recorded in Asia, Latin America and Eastern Europe, the firm said. However, a competing firm, IDC, said this milestone had already been reached in the first three months of 2013.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="NASA" src="/userfiles/images/NASA.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />NASA Sending World&rsquo;s First 3-D Printer into Space</span></strong></div>
<div>
	NASA is set to launch world&rsquo;s first zero-G-ready 3D printer into space next year, during its resupply mission to the International Space Station, so that parts can be built on-demand in space. Space manufacturing company Made in Space&rsquo;s customised 3D printer will be the first device to manufacture parts away from planet Earth, researchers said. The 3D printing in Zero-G Experiment will validate the capability of additive manufacturing in zero-gravity. &nbsp;&ldquo;Imagine an astronaut needing to make a life-or-death repair on the International Space Station,&rdquo; said Aaron Kemmer, CEO of Made in Space on the company&rsquo;s website. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Apple" src="/userfiles/images/APL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 53px;" />Icahn Buys Stake in &lsquo;Undervalued&rsquo; Apple</span></strong></div>
<div>
	Billionaire investor Carl Icahn says he has built up a &ldquo;large&rdquo; stake in Apple. Mr Icahn says Apple shares are &ldquo;extremely undervalued&rdquo; and wants Apple to carry out a bigger share buyback. In April, Apple said it would return $100bn (&pound;65bn) to shareholders by the end of 2015, by raising its dividend and buying back shares. Mr Icahn said he had a &ldquo;nice&rdquo; conversation with Apple&rsquo;s chief executive Tim Cook and plans to speak to him again shortly. In response, Apple said in a statement: &ldquo;We appreciate the interest and investment of all our shareholders. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Office 365 " src="/userfiles/images/365.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 59px;" />Microsoft Releases Office 365 for Android&nbsp;</span></strong></div>
<div>
	Microsoft has released a version of its office programme Office 365 designed to be used on smartphones with the Google operating system Android. The app was initially available only for US users through the Google Play Store but is being gradually activated in more countries. The app allows documents from Excel, Word and PowerPoint to be viewed on mobile devices, edited in limited fashion and shared in the cloud service SkyDrive. Those who subscribe to Office 365 can download the software for free.&nbsp;</div>
<div>
	&nbsp;</div>',
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			'description' => 'Facebook, the world’s largest social networking company, is planning to come up with a new mobile payment feature.',
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		'Article' => array(
			'id' => '1670',
			'article_category_id' => '159',
			'title' => '‘Family Comes First For Me’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt=" Umang Rana,General Manager , Webster Properties" src="/userfiles/images/ur.jpg" style="width: 200px; height: 220px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>&nbsp;Umang Rana</strong></div>
				<div>
					<em>GM,Webster Properties</em></div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	He starts his day early and amid hustle bustle of daily city life, he never forgets to teach his son about values and the importance of nature in life.</div>
<div>
	&nbsp;</div>
<div>
	Meet the General Manager of Webster Properties, Umang Rana for whom separating hectic professional and personal life is not a daunting task, which he is maintaining for several years.</div>
<div>
	&nbsp;</div>
<div>
	While interacting with The Corporate correspondent Suraksha Adhikari, he says, &ldquo;Family comes first for me and work will go on accordingly&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Defiant from other senior professionals who hardly get time to spend time with their family members due to officials wrangling, Rana customized his lifestyle maintaining every minute responsibility carefully in office as well as at home.</div>
<div>
	&nbsp;</div>
<div>
	A big time sports lover and his fascination towards driving cars and bikes give him a reason to live like king size.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;My son is growing up and he has so many queries in his mind. I listen and talk to him which has been my favourite pass time,&rdquo; he says.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He proved himself as a good manager of time and therefore he succeeded in maintaining a balance between his personal and professional life. For him a person can do good business only after his or her family is adequately taken care of.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;I never bring office at home and even avoid taking calls unless it is very urgent. I prefer to spend quality time with my family because they give me strength to work hard next day,&rdquo; Rana said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He says, &ldquo;I love spending some quality time with my son and wife and try to make frequent dining with them to break the monotony. It makes us happy and developed a sense of responsibility and bonding in each other&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Interestingly, on vacation he is very particular about the places and always tries to visit those places and countries which will educate them especially his son about the place and its historic value.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We plan as per our son interest and we try to visits those places which are serene and calm. I prefer to be with the nature, but as my son is small and I prefer those places which will give some education to him,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	A nature lover has a long list of his favorite holiday destination starting from Hawaii, Latin America to Eastern Europe. He recently visited to Dubai in June with his family and could resist to share his experience during his stay.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	An avid sport lover, Rana rates himself as master of all and jack of none in sports. &ldquo;Still football and cricket is on my top list,&rdquo; he admitted.</div>
<div>
	&nbsp;</div>
<div>
	He prefers not to engross too much on social networking and spend some time in watching and even for a long drive with his family for a rendezvous with nature.</div>',
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			'id' => '1684',
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			'title' => 'Towards Prosperous  Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	What are the elements that shape the country&rsquo;s transition from volatile politics to stable democracy? All too often, policy analysts focus on the political process, while neglecting the vital role of economic reform in determining democratic success or failure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the last decade, high unemployment and lack of entrepreneurial opportunities posed serious challenges to Nepal&rsquo;s transition. On the other hand, the country faced growing unresolved grievances caused by issues such as misappropriation of private property, rampant corruption and widening inequality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yet, there is silver lining. Despite a decade-long political turmoil and armed conflict, the country&rsquo;s economy was successful enough to maintain its basic economic indicators in a positive direction. It is for sure that the country will go through a long and complex journey before the current political transition will settle to form a stable democracy. The question remains as to how to unleash economic prosperity in the current situation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Many believe that the country can achieve prosperity if elections are held on time as political parties will agree on a common economic agenda to take the country into a prosperous future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government on July 14 announced the annual budget of Rs 517.24 billion for the Fiscal Year 2013-14 through an ordinance. This is the first time in two years that a government budget has been announced for the entire fiscal year before the fiscal year begins. The budget of the current fiscal year gives special emphasis on elections to the Constituent Assembly by earmarking Rs 16 billion to hold the CA election. The budget has also emphasised on sustainable development along with economic growth and stability.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government is heading towards a dream of achieving the status of a &lsquo;developing country&rsquo; by 2022 through a three-year plan. Many suspect whether the Nepali economy can begin the journey of prosperity in the given circumstances. The experience of the last decade, however, shows that the country can achieve things if the CA election is held on time and if political parties are united on a common economic agenda.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Despite political instability, Nepal has witnessed a noticeable growth in all sectors during the last decade. In recent years, many banks and money transfer businesses have grown. Nepal was one of the highest receivers of remittance on the basis of the Gross Domestic Product (GDP) in 2011.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Between 1980-2012, Nepal&rsquo;s Human Development Index (HDI) rose by 3.8 percent annually from 0.234 to 0.463 today, which ranks the country 157 out of 187 countries with comparable data.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal is one of the 189 countries committed to the Millennium Development Goals (MDGs), a pledge renewed in its three year plan (2010-2013). The data from MDG progress report for Nepal 2010 prepared in partnership between the government of Nepal and the UN country team indicates that Nepal may be able to achieve most of its MDG targets by 2015.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are noticeable improvements in other economic indicators too. The national poverty line has gone down to 25 percent, net enrollment rate has increased to 93.7 percent, under five mortality has reduced to 50 per 1000 live births and maternal mortality has reduced to 229 per 100,000 live births which is almost reduction by half in 10 years&rsquo; time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Be it the health and education sector or the manufacturing and industrial sector, the country has succeeded to achieve remarkable progress despite political instability during the last decade.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Improvements in health services have resulted in a decline in the mortality rate. The declining mortality rate coupled with high fertility rate has resulted in rapid population growth. Control of malaria and other epidemics and the expansion of medical and public health facilities also reduce morbidity and mortality in the country. School enrollments of both boys and girls at all levels have increased.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are rays of hope also in the hydropower sector too. Currently a power deficit country will be a power surplus one by 2018 if all ongoing projects will be completed within a stipulated time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Around a dozen of hydropower projects including 556 MW Upper Tamakoshi, 50 MW Upper Marsyngdi, 60 MW Trishuli 3A and 42 MW Upper Modi along with others are under construction. These projects are supposed to end existing massive power outage problem and lead the country into the era of industrialisation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	During the conflict era, the tourism sector suffered a lot resulting in the closure of some renowned five-star hotels. The conflict also tarnished the image of the country in the global scene. However, the entire tourism sector has started to revive now and it is certainly no surprise that hotels have mushroomed in recent years. As the number of tourists and foreign business travelers in Nepal are growing in step with its economy, Nepal&rsquo;s rapidly maturing hotel industry is one of the key beneficiaries. The tourism sector has given much to the Nepali business community to cheer.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The total contribution of the travel and tourism sector to the GDP stood at RS. 119.1 billion in 2011, according to the World Travel and Tourism Council and was forecasted to rise by 4.8 percent in 2012 and by 4.1 percent per annum to NRP 185.5 by 2022.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Some of the road construction projects that are under the works raise hope in the realm of infrastructure development. Tripura Sundari to Satbanjha (25 km), Satbhanja to Gokuleshwar (54 km), Khodpe to Kalinga Bridge, Chainpur (62 km) are some major projects to connect rural Nepal by road access.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	These projects would lead to a 6 percent increase in the number of people with all-season road access and a 35 percent decrease in travel time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Educating and uplifting the status of the vulnerable and marginalised children, women empowerment through community-based livelihood enhancement projects is a tool to leap forward. Programmes of integrated rural development and nature conservation in the mountain region of Chitwan district is worth mentioning for steady rural reconstruction in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Not only the telecom sector but also the entire Information and Communication Technology (ICT) sector has been witnessing a remarkable growth after the political revolution in 1990. Both growth and expansion of the ICT sector has lured many brands and companies to invest in the country. The monopoly of the state-owned Nepal Telecom has ended and many players have emerged in the telecom and ICT business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Today, all districts of the country have telecom facilities and consumers are using state-of-art technology and sophisticated devices to prove themselves tech-savvy. The government and private sectors are mulling to utilise ICT to boost the economy by using its maximum potential to promote all sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In recent years, the agricultural sector has also gained attention from the government as well as the private sector. The government&rsquo;s plan to modernise agriculture, ease the distribution of chemical fertilizers, step up the construction of irrigation projects would at least decrease the country&rsquo;s dependency on import for the agro-products, making the country self-reliant.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Green Kathmandu, Clean Bagmati campaign will lift the face of the river flowing through the capital. The Melamchi Drinking Water Project will solve the problem of acute shortage of water in the Kathmandu valley.&nbsp;</div>
<div>
	It is always said that the youth are not just leaders of tomorrow but partners of today.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The population of youth between the age of 15 and 29 is 6.131 million in Nepal. This accounts for 26.5 percent of the total population. Consolidating youth for prosperous development should be the main responsibility of the state, private sectors, and civil society.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The nation should take advantage of young talent and energy, simultaneously solving problems of violence, instability and abusive behaviour. Considering these facts, it is necessary to invest energy and capacity embodied in the youngsters in a constructive way for the development of our country by making the rural youth competent and responsible.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Since we are going through a post conflict period, the state machinery should not neglect this mass. The government should come up with a plan to engage these large numbers of youth in creative and entrepreneurial ventures. This is the need of hour of our country. Also, it is the only way to enhance our youth with their energy and efforts.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a country like Nepal, real development Let us dream together that one day the rural youth of Nepal will be able to lead not only the development process but also play a vital role in the economic, cultural and political sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As in an essay by noted litterateur Laxmi Prasad Devkota entitled &lsquo;Is Nepal Insignificant?&rsquo; where he eloquently writes about the prospects of Nepal, this country has tremendous potential for economic growth. But all we need to boost the country&rsquo;s economy are commitment from the political leadership, positive thinking of the general public and sincere and genuine efforts from the private sector.</div>
<div>
	&nbsp;</div>',
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			'description' => 'In an ideal situation, we have hopes of becoming Switzerland. In reality, our conversation begins with negative news. It seems Nepalis are very enthusiastic to change the country but put in little effort for their own part',
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	(int) 1 => array(
		'Article' => array(
			'id' => '1683',
			'article_category_id' => '57',
			'title' => 'Establishing A Noodle’s Brand',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Noodles have become a Nepali staple. With so many new brands in the market, competition for consumer loyalty is fierce. The first homegrown manufacturer, in the early eighties, was Gandaki Noodles of Pokhara, which introduced Rara (named after a mountain lake). Then, around 1985, Wai Wai, manufactured by the Chaudhary group, entered the market with a brown, spicy, precooked noodle, which became an instant crowd pleaser in the urban centers. Along with this another brand RumPum appeared the market in late 90s.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the past few years many players have entered the field, and today committed noodle fans can choose from a couple of dozen brands, manufactured by a dozen companies. Along with this, eating a noodle has been a culture among Nepalis and the business is doing well in the market as well. Here the question is&mdash;what makes noodle business sustainable among customers and in the market?&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Entrepreneurs believe that powerful branding and quality of a product are two major factors that sustain a product. Noodle industries, too, are supportive to this fact. Every noodle industry, acknowledging this, involves itself in different branding strategies: be it a selection of catchy tags in a product or introducing different lucrative schemes or holding promotional campaigns directly targeting the potential consumers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To attract consumers, RumPum had run various consumer schemes including the initial highly successful offer of putting a toffee along with each Rumpum. &ldquo;We are very conscious about the brands. We have a very strong research department and an international quality lab to check our products regularly to uphold our standards,&rdquo; shares Mahesh Jaju, Managing Director of Asian Thai Foods. Jaju adds, &ldquo;Promotional campaigns play a vital role to gain favor of the consumers.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With this increasing demand among cunsomers Rum Pum ran a massive media campaingn in late 90s targeting the 8-18 years children.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the similar manner, Wai-Wai too adopted different branding policies to establish its products. GP Sah, Vice President, FMCG Division at Chaudhary Group admits that the initial days were not easy sailing. He says, &ldquo;The branding process had to be robust and scientific. We needed to be prepared for new brands that may come in the market and start competing with us. Our campaign&mdash;Hami Sabaiko Wai Wai-- certainly helped us in this regard and made the branding process quite easy.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Wai Wai also went through different other schemes as scholarship to children at schools and vitamin fortification in noodles. Wai wai focused more on making the noodle healthier by adding healthy ingredients such as vitamin.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though other brands too did something similar&mdash;vitamin fortification as well as scholarships--but that of Wai Wai had a lasting effect. While other brands provided scholarship to the students in a lump sum onetime cash payment, Wai Wai paid the money to the schools of the scholarship recipients and started collecting their progress reports. &ldquo;We provided the scholarship amount in installments at regular interval so that it can have a lasting effect in the educational career of students,&rdquo; explains Sah.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	These all show that a brand exists only through excessive branding. Noodles are great snack foods. Most the younger generation people have 10 rupees in their pocket.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Noodles have become a Nepali staple. With so many new brands in the market, competition for consumer loyalty is fierce. The first homegrown manufacturer, in the early eighties, was Gandaki Noodles of Pokhara, which introduced Rara (named after a mountain lake).',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1682',
			'article_category_id' => '41',
			'title' => 'Hotel: Rediscovery Of A Lucrative Sector',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal has again become a very lucrative country for hotel business. A number of leading global hotel chains have already declared to expand their presence in Nepal while many others are planning to enter in this small Himalaya country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Multinational hotel brands Sheraton (the largest and second oldest brand of Starwood Hotels and Resorts Worldwide) and Marriott International (a leading hotel chain based in Maryland, US) recently announced the decision to enter Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shesh Ghale, the Australia-based Nepali millionaire businessman, has entered into joint venture with Sheraton to operate a five-star hotel in Kathmandu. His MIT Group Holding Nepal recently signed an agreement with Starwood Hotels and Resort Worldwide Inc and set the project rolling.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Slated to open in February 2018, the 225-room Sheraton Kathmandu Hotel will be managed by Starwood Hotels &amp; Resorts. This project will bring around Aus $ 75-80 million in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similalry, Maliram Shivakumar (MS) Group has signed an agreement with Marriot International, a globally renowned chain of hotels, to open a four-star hotel in Nepal. Named &ldquo;Fairfield Marriott Kathmandu&rdquo;, the hotel will be located in Thamel which will start its commercial service in the beginning of 2016 with around Rs 650 million investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Various other 5- star hotels like Sambala Holdings at Maharajgunj, Chhaya Devi Complex at Thamel and Shree G Hotel are also planning to start soon. Similarly, luxurious hotels have also been established outside Kathmandu valley mainly in Pokhara, Bhairahawa, Lumbini and Nepalgunj.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the tourism industry&rsquo;s growth in Nepal, it is certainly no surprise that the hotels have mushroomed in recent years. As the number of tourists and foreign business travelers in Nepal are growing, Nepal&rsquo;s rapidly maturing hotel industry is one of the key beneficiaries. The country is booming the world of five-star hotels offering best services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Apart from 5 stars hotels, the hotels labeled as 4- star, 3- star, 2- star, other informal hotels and even home stay system have been witnessing rise in the investment with the increasing number of tourists in Nepal. Though selected number of tourists emphasize on their living standards also during their visit, most of the tourists entertain themselves on spending money on recreational activities rather than their lodging which is the main cause of flourishing the business of non star hotels and home stays.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Number of Hotels in Nepal" src="/userfiles/images/no%20of%20hotels(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 159px;" />Rising Investment&nbsp;</span></strong></div>
<div>
	According to the statistics provided by Nepal Rastra Bank, the total investment in hotel sector in Nepal till the date is Rs 16.91 billion. About 75 per cent of the entire investment in tourism sector is being done in hotel sector. The data shows that yearly investment in hotel sector only in 18 per cent while only 18 per cent of investment can be seen in other sectors of tourism.</div>
<div>
	&nbsp;</div>
<div>
	As a positive impact of Nepal Tourism Year 2011, the investment in hotel industry have started to boom. Stars hotels in Kathmandu are investing over Rs1 billion to build up their capacity and upgrade the facilities. Most of four stars hotels in the country are working hard upgrading themselves by adding new rooms and uplifting their amenities. It was crucial for such investments in hotel industry to cope up with the increasing numbers of tourist entering into Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the information from Ministry of Tourism and Civil Aviation, the hotels in Nepal have the capacity to accommodate around one million tourists at present. Similarly hotels are boosting up their occupancy level to accommodate the expected number of tourist.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The existing five star property Hotel Soaltee Crowne Plaza has renovated 130 rooms. It is replacing the TVs in all its rooms with 42 inch-LCD TVs. Similarly Radisson has already added 100 rooms. According to the hotel, the new rooms will be spacious and have contemporary looks, lighting and furniture. Hotel Yak &amp; Yeti is giving a new look to 150 rooms in the Durbar Wing while the Everest has renovated 40 of its 160 rooms. Hotel Annapurna is now working to refurbish its 150 rooms. The record number of tourist in year 2010 has made hoteliers optimistic to pick up the pace.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Home Stay in Nepal" src="/userfiles/images/hotel1.jpg" style="width: 500px; height: 319px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Home Stay System&nbsp;</span></strong></div>
<div>
	The concept of home stay program is considered to be the best alternative to hotel accommodation in the hospitality industry. Basically home stay systems are planned to increase the flow of tourists in the villages or the remote areas where the hotels are not established. But these days the home stay systems are also being urban centered. Around 60 per cent of investments of home stay system are being done around the city in the areas like Kavre, Sitapaila, Dhulikhel etc.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Tourist Inflow in Nepal" src="/userfiles/images/tourist%20inflow(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 209px;" />Tourists&rsquo; inflow&nbsp;</span></strong></div>
<div>
	According to the data provided by economic survey FY 2012, Ministry of Finance, the rate of tourist arrival in Nepal has increased by 9.08 per cent by 2011 to 2012. A total of 7,36,215 tourist entered to Nepal in the year 2011 which increased to 8,03,092 in 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the number of tourist visiting to Nepal has been increasing, their average stay in Nepal has been decreased by 0.25 percent this year.</div>
<div>
	With the increment of tourist in the country, the hotel industry doesn&rsquo;t have to see backward. Experts in the hospitality industry opine that the establishment of hotel in the area becomes the major root for the urbanization. Prasidha Bahadur Panday, former president of Hotel Association of Nepal (HAN) said that the hotel business will flourish more in upcoming days as the tourist offer first priority to lodging. The government of Nepal has prioritized tourism sector and started implementation its announcement to provide the same facilities to this sector as provided to any industry</div>
<div>
	&nbsp;</div>',
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			'description' => 'Nepal has again become a very lucrative country for hotel business. A number of leading global hotel chains have already declared to expand their presence in Nepal while many others are planning to enter in this small Himalaya country.',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1681',
			'article_category_id' => '42',
			'title' => 'Budget Prospects Pulled Market Above 500',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>By Bikram Chitrakar</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="STOCK TAKING" src="/userfiles/images/sectors(2).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 905px;" />The benchmark Nepse index stretched 10.85 points or 2.14% to close at review period high of 506.45 while the low was on 23rd June with 487.63.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The index climbed back to nearly four months high surpassing the previous resistance level of 500. Investor&rsquo;s expectation of the full budget for fiscal year 2013-14 was the main reason.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the review period, the market also experienced positive supply shock. Initial public offering (IPO) of Mega Bank Nepal, right issue of Nepal Bank Ltd and some other IPOs and right issues absorbed the liquidity. This put pressure on the investors to sale off their stocks to unfreeze the funds for investment in the primary issues. Further, fiscal year-end tightening on margin loan from the financial institutions played its role to make the investors to offload some shares. Still the market saw an overall positive growth indicating further growth in the days ahead.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Rumours that Nepal Rastra Bank is all set to instruct financial institutions for raising paid-up capital acted as a spur to lift banking stocks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, Sitaram Thapaliya has been appointed as the General Manager of Nepal Stock Exchange. The position was lying vacant since January 2013 after the tenure of Shankar Man Singh came to an end. Assuming office, Thapaliya said he would try to upgrade the online trading platform to facilitate the traders beyond located outside Kathmandu valley and abroad.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Performance by Sector&nbsp;</div>
<div>
	During review period, insurance sub-index added 29.79 points. That was followed by 29.37 points up in the &lsquo;others&rsquo; sector on the back of gain in the price of Nepal Telecom. Hotels sector went up 18.22 points or 2.75 percent to 662.85. Commercial banking sector posted growth of 9.74 points. However, manufacturing sector receded 7.74 points to 868.72 while hydropower sector plummeted 1.87 points to rest at 1041.43.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sensitive index that measures the performance of 120 blue chip companies went up 2.21 points to 126.12 while the float index which is calculated on the basis of real transaction went uphill 0.26 points to 35.75. A total turnover of Rs. 1,817,767,779 was realized during the review period from 8.530,819 units of shares traded via 25,787 transactions.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As usual, the commercial bank has occupied the 77.65% of total volume of trade. Hydropower sector accounted 12.84%, insurance covered 9.57% and rest was made up by other remaining sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Technically, the Simple Moving Average (SMA) has been outcast by Nepse index while the index has crossed the level of 500. The 30 days SMA and 200 days SMA are in tight range suggesting resistance test at this level.</div>
<div>
	(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</div>
<div>
	&nbsp;</div>',
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			'description' => 'The benchmark Nepse index stretched 10.85 points or 2.14% to close at review period high of 506.45 while the low was on 23rd June with 487.63.',
			'sortorder' => '1542',
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	(int) 4 => array(
		'Article' => array(
			'id' => '1680',
			'article_category_id' => '37',
			'title' => 'Gold And So-Called Regulated Gold Market In Nepal!',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Chittaranjan Pandey</strong></div>
<div>
	&nbsp;</div>
<div>
	Gold is a very important component of the human lives on the earth today. Gold not only has the metallic value but also has been used as a hedge against several risks in the human life. Today gold is used from medicines to luxury. The use of gold carries lots of historical and mythological values beyond the regular usage we talked about.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<div>
		अग्नेः प्रजातं परि यत् हिरण्यम्</div>
	<div>
		अमृतं दघे अधिमत्र्येषु</div>
	<div>
		यएनव्देद स इदेनमर्हति</div>
	<div>
		जरार्मृत्युर्भवति यो बिभर्ति ।।</div>
	<div>
		&nbsp; &nbsp; &nbsp; &nbsp;&ndash; अथर्व वेद, काण्ड १९, सूक्त २६, ऋचा १</div>
</div>
<div>
	&nbsp;</div>
<div>
	The above lines from Atharvaveda mean &ldquo;I adorn gold created or originated from fire which bestows eternity. One who adorns it is liberated from the fear of untimely death.&rdquo; This signifies how gold has gained so much of significance for us. To go deep with the importance of gold, the yellow metal is believed to be the most sattvik, meaning holy, divine or serene. It is also believed that gold destroys most of the harmful germs in our body and using gold enhances the absorption of divine energy to greater extent. Specifically, in case of women, it is believed that when women put on gold ornaments, the shakti-roop is activated and the whole family is protected.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The above mentioned reasons only signify why gold has received so much of mythological importance. Coming to these days, when people have started to take themselves above the cultural and traditional barriers, most of the things do not have the same shape. Yet, gold is successful enough to declare its commercial importance and has been luring people almost every corner of the world.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	When I talk about gold, how can I miss out talking about its importance in the currency management worldwide? Gold has played an important role in backing up the currency worldwide for long but these days, the scenario is different. We usually hear about the inverse relation of gold and US dollar. To explore the same, we need to dig back further. It was long back during the World War I when the warring nations shifted their money to a miniscule gold standard, thus bloating their own currencies to finance the war. Gold backed currency system thus lasted for long but the problem it invited was that all the countries wanted to deposit more gold to strengthen their currency which resulted major economic shocks. Coming to the era of Second World War also, the world was still tangled with the hard power and humanitarian crisis. But after the Second World War, Bretton Woods conference was organized and International Bank for Reconstruction and Development (IBRD-present World Bank) and International Monetary Fund (IMF) - called Bretton Woods Institutions were formed. Gold standard and the direct convertibility of the currencies were eradicated. Because United States was the most dominant power after the war, US Dollar was backed by gold and almost all other currencies in the world accepted US dollar to back up their currencies. Besides that, gold is held by many in various forms as a hedge against inflation and other economic disruptions. One of the most common forms of usage of gold in our society is the jewelry. Gold itself is very inert so gold salts are used for various medicinal purposes also. Gold salts are used for the treatment of arthritis; gold based injections heal and minimize the pain and swelling of rheumatoid arthritis and tuberculosis. Gold is also important in dentistry helping for restorations. Other very important use of the gold is for electroplating of gold onto base metals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After we go through the various usage forms of the precious yellow metal, we can explore why this stands as a luring metal in the market to earn maximum profit in various ways. The news heating the market these days is that the gold price is decreasing rampantly but domestic price of the gold in Nepal is not responding to it well. When there is a price hike, gold traders in our country do not wait a second to raise the price but when it is falling, the traders do not want to sell any gold to the people. Isn&rsquo;t this pathetic regulation? More frustratingly, the strike of the gold traders broke with an interesting end- &ldquo;Not penalizing the guilty&rdquo;. The gold traders would start selling gold only when the government assures that the thug is not penalized.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Please have a look at table to know how the price of gold is derived and how much of profit our gold traders earn:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For instance, I have taken the price of gold on 26th June, 2013, the moment when price was US$1223.20 per ounce.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Through various newspaper articles, people must be aware that the market demand for gold remains around 40 kg per day whereas traders believe that the daily consumption of gold in the market remains around 30 kg on an average. On the contrary, Nepal Rastra Bank sells only 15 kg of gold daily in the market through various assigned commercial banks. On an average, there is a deficit supply of almost 15 kg. We all know gold market is REGULATED in Nepal. So let&rsquo;s not focus much on where the remaining gold to meet the market demand comes from. Rather I would like to explore with the economic benefit from the gold trading only. Even if we deduct Rs. 1000 per 10 grams as the additional costs, insurance cost- which is too much in itself and usually comes to almost half of that amount, the profit of the traders is Rs. 1085.23 per 10 grams. This means in one kilogram of gold, the traders earn Rs. 1,08,523.00 on an average. Similarly, for the official 15 kg of gold, the total earning of the traders become Rs. 16,27,845.00 on an average. These numbers will keep on growing if we intend to show their weekly and monthly income.&nbsp;</div>
<div>
	&nbsp;</div>
<table align="center" bgcolor="#E5E4E2" border="0" cellpadding="10" cellspacing="0" style="width: 500px;" td="">
	<caption>
		<strong><span style="font-size: 14px;">Gold Price Calculation</span></strong></caption>
	<tbody>
		<tr>
		</tr>
		<tr>
			<td>
				<strong>Particulars</strong></td>
			<td>
				<strong>Price (NRs.)</strong></td>
			<td>
				<strong>Remarks</strong></td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Per Ounce (As per Reuters)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">1223.20 (USD)</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">NPR/USD Selling Rate (As per NRB)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">95.51</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Gold Rate in USD (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">391.35</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">(((1223.20*0.995))/31.1)*10</span></strong></td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">In NPR (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">37,224.77</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">(392.24*95.51)</span></strong></td>
		</tr>
		<tr>
			<td>
				<div>
					<strong><span style="font-size: 11px;">Add Customs</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">(As per Republica Article)</span></strong></div>
			</td>
			<td>
				<strong><span style="font-size: 11px;">3000</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Total (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">40,224.77</span></strong></td>
			<td>
				<div>
					<strong><span style="font-size: 11px;">(Adding Price in NPR</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">and Customs)</span></strong></div>
			</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Market Price (NEGOSIDA)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">42,310.00</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Difference in Price (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">2085.23</span></strong></td>
			<td>
				<div>
					<strong><span style="font-size: 11px;">(Additional Cost, Insurance</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">and Profi t)</span></strong></div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>
<div>
	The story does not end here. When we look into the real scenario, if jewelry is made out of 10 gram gold, 1 gram of other metal, besides gold,is used on an average for the bonding and many other purposes. This means that when a customer buys 10 gram of gold, s/he actually purchases only 9 grams of gold on an average. Besides that, when the price of gold increases internationally, the increment in price is implemented so promptly but when the price of gold decreases internationally, the case is different. It takes a long time for the authorized traders&rsquo; association to adjust the decreased price of gold. This clearly shows that the ethics is slumping in the REGULATED gold market of the country. Moreover, the traders go on strike, the shops are closed when price goes down as if there is no gold supply in the market which is totally against the economic theory. Other things remaining the same, the price of a commodity goes down only when the supply of the commodity increases. Unethical cartel is rampant in the gold market here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Is there no option to this? Globally, the option to this is the authorized commodity exchange which can deliver gold to the public cheaper than the other sellers. People can buy gold from the exchange and ask the jewelry shops to make the jewelry as per their requirement or they can also trade back the gold on their will. A remarkable benefit from the exchange is that people do not have to wait for hours or days for the gold price adjustments, the adjustments happen promptly in the software of exchange. Quality of the gold is not compromised; it is the same that the Nepal Rastra Bank authenticates, because the exchange will buy gold from the banks only. On the same price level given in the example above, the exchange can deliver gold at price below Rs. 41,200 per 10 grams. Isn&rsquo;t this profitable to customers? This will exactly be the WIN-WIN situation for both the counterparties.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	What the country is lacking is the regulatory framework and the market is lacking the business ethics on the whole, thus losing the customers&rsquo; faith and confidence from the market. Isn&rsquo;t it high time government starts taking commodity exchange as an alternative to maintain market equilibrium?</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 11px;"><em>(Pandey is Assistant Manager, Research &amp; Development Department at MEX Nepal Ltd.)</em></span></div>
<div>
	&nbsp;</div>
<div>
	<em>Disclaimer: The views and expressions expressed in the article are entirely personal and my employer has nothing to do with it. This is an informational piece of writing and has no intention to provoke any individual, group or entity.</em></div>
<div>
	&nbsp;</div>',
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			'description' => 'Gold is a very important component of the human lives on the earth today. Gold not only has the metallic value but also has been used as a hedge against several risks in the human life.',
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		'Article' => array(
			'id' => '1679',
			'article_category_id' => '31',
			'title' => '‘Our Clients Include Major Multinationals As Well As Small SMEs’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Hayden Davies</strong>&nbsp;is the Director of BM TRADA, a specialist testing, inspection and certification business. BM TRADA was established nearly 80 years ago in the United Kingdom that now has 40 offices in 33 different countries. Originally a civil engineer, Hayden has been with BM TRADA since 1994 and has managed a number of the business streams. In an interview with New Business Age, Hayden shared the importance of certification in industries in Nepal.&nbsp;<strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you tell us the reasons for your visit to Nepal?&nbsp;</strong></div>
<div>
	Firstly, we had to attend the annual general meeting of our company that was decided to be held in Kathmandu. Secondly, we had to meet our staff, Indian partners and clients in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is BM TRADA all about?&nbsp;</strong></div>
<div>
	BM TRADA provides certification, testing, inspection, training and technical services around the world . We are very honest in the areas we work in. We are specialists in furniture technology and testing, timber technology and have general expertise as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Who are the target clients?&nbsp;</strong></div>
<div>
	Our clients range from major multinationals to the very small SMEs. Currently, the Chilime hydropower project, ten colleges, some BFIs (Banks and Financial Institutions), textile industries are some of our clients in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How does this certification help organizations in Nepal?&nbsp;</strong></div>
<div>
	In general, it possibly helps them to operate more efficiently. Basically, having an ISO 9000 management system means the organization is more efficient and less prone to mistakes. When a mistake occurs, it will be corrected because there is a recognized system. Secondly, it helps to reassure clients of the company&#39;s performance. When a client sees an organization&#39;s management system certified by an international body, they can rest assured of good returns. The certification is also constantly reassessed. We review the system every year to check on it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you view the overall qualification of organizations in Nepal?&nbsp;</strong></div>
<div>
	The development of organizations in Nepal has been strong. They have commitment and enthusiasm to quality and that is good. What I say to these clients is -- it is very important not just to maintain the system but adding value continuously, which adds value to your business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How are you expanding your market in South Asia? What is the strategy?&nbsp;</strong></div>
<div>
	We are growing our business in South Asia and work in two ways -- the first way is through subsidiaries or in joint venture, which we might own 100 percent. In India, it is a joint venture. These subsidiaries help the company to expand further. For example, BM TRADA India has now expanded to Bangladesh, Sri- Lanka and Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the second way, we hire local representatives whose every decision made is reviewed in detail in our head office in the UK. All the controls are set within our office in UK. That is how we control and maintain quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you see the future of certification in Nepal?&nbsp;</strong></div>
<div>
	It has lots of prospects. Certification is a big opportunity for companies to prove their credentials in an international stage and display international recognition to the buyers. The company demands to make buyers confident about the products while the buyers demand that the product they are buying is of reasonable quality. I think certification will grow in Nepal because it is a prerequisite for international pride.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-23',
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			'description' => 'Hayden Davies is the Director of BM TRADA, a specialist testing, inspection and certification business.',
			'sortorder' => '1540',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1678',
			'article_category_id' => '46',
			'title' => '‘Banks Contribute By Dispensing Credit And Absorbing The Additional Income Of People’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">The Everest Bank Pvt. Ltd. (EBL) appointed&nbsp;</span><strong style="font-size: 14px;">AK Ahluwalia</strong><span style="font-size: 14px;">&nbsp;as its new chief executive officer effective from July 1. Founded in 1994, the bank has been one of the leading banks of the country catering to various segments of society. Ahluwalia, who has 32 years of experience in the banking sector, was deputy general manager of the Punjab National Bank, India. He has key expertise in credit and recovery in the banking system and now leads the Everest Bank which has 50 branches, 25 collection counters and 67 ATMs. In this interview with&nbsp;</span><strong style="font-size: 14px;">Siromani Dhungana</strong><span style="font-size: 14px;">&nbsp;of New Business Age, shares his experiences in banking sector and his plans in Nepal to lead Everest Bank into the next level.&nbsp;</span><strong style="font-size: 14px;">Excerpts:</strong></div>
<div>
	<div>
		&nbsp;</div>
	<div>
		<strong>You worked with the Punjab National Bank for 32 years. How do you see the banking sector in the South Asian region?&nbsp;</strong></div>
	<div>
		In my view, there is one thing common to the entire region which is the general slowdown of the economy. The inflationary trend also affects the cost of goods produced, thus making them uncompetitive in the international market. As a result, exports slow down. There is also a general tendency on the part of entrepreneurs to procrastinate in expanding their existing units or setting up new industries due to the slow economy.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>So you think the manufacturing sector and the banking sector will go well together?&nbsp;</strong></div>
	<div>
		I believe so. When the manufacturing sector is on an upswing, more capacity is created and utilized, more jobs are created and the standard of living of employees improve. People&#39;s purchasing power improves, in turn increasing demand. This is a cycle which continues and contributes in a big way to boost the economy. Banks contribute in their own way by dispensing credit and also by absorbing the additional income of people as deposits, and investing the same.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>You were with the Punjab National Bank in Delhi before coming Everest Bank Limited. What inspired you to be here?&nbsp;</strong></div>
	<div>
		I have worked for 32 years in the Punjab National Bank, having joined as Management Trainee. During my time there, I worked in all types of branches as branch manager and also at the corporate office as well as the circle office. Now I have a chance to work as CEO at Everest Bank Ltd, which is a prominent commercial bank in Nepal. It is my privilege to be a part of this institution and it would be my endeavour to carry it forward and try and make the bank stronger within the framework of regulatory guidelines.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>What are your future plans here onward?&nbsp;</strong></div>
	<div>
		Everest Bank has been doing exceeding well. It has created a unique brand image for itself. Over a period of time, it has become one of the leading commercial banks of Nepal. I believe when you have raised expectations of your stake holders, whether customers, staff, shareholders or promoters, you have to live up to them. It takes a lot to create the brand image and it would be my priority to add further value to it. I have a great team of people working with me who are fully devoted to take the bank to the next level.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Will you bring unique products/services to push the bank to the next level?&nbsp;</strong></div>
	<div>
		I have been CEO of the bank only for a fortnight and it is too early to comment. However, my priority would be to increase the customer base of the bank, both in deposits as well as credit. The existing products are, and also in future would be, in keeping with the customers&rsquo; needs and expectations.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Let&rsquo;s talk about your career and what your banking experience has taught you.&nbsp;</strong></div>
	<div>
		My banking experience has taught me one very simple thing - that if I want my customers to be loyal to me, I have to be loyal to them. When we give correct advice to our customers and deliver exactly what we promise, their loyalty automatically grows.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Your key expertise is in credit and recovery. Can you bring some innovative ideas in these areas?&nbsp;</strong></div>
	<div>
		Credit is basically a function of delivery. For a credit customer, delivery has to be very fast. As far as recovery is concerned, it is basically about being vigilant. If we are vigilant about our accounts, and if the monitoring is good, then recovery is not an issue. Primarily, if we are able to catch signal of an account going sticky at the right time, then corrective measures can be taken immediately.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Any plans for the rural sector?&nbsp;</strong></div>
	<div>
		Prior to my joining EBL, the bank already had plans for agriculture financing, having set up a branch at Rajbiraj, Krishi Udhyam Bikash Sakha. We are also encouraging some corporate clients to boost finances in rural areas.</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'The Everest Bank Pvt. Ltd. (EBL) appointed AK Ahluwalia as its new chief executive officer',
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			'id' => '1677',
			'article_category_id' => '47',
			'title' => 'A Visionary Vanguard',
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			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sujan Tiwari</strong></div>
<div>
	&nbsp;</div>
<div>
	Pradeep Jung Pandey, MD and Chairman of Lomus Pharmaceuticals Pvt Ltd and Vice President of Federation of Nepalese Chambers of Commerce and Industry is a familiar name in Nepali business sector. But Pandey didn&rsquo;t always have thoughts of becoming a businessperson and wanted to join the army as a young man. A simple twist of fate turned him into business, and today, Pandey has many companies and industries under him and is one of the most successful Nepali business personalities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Lomus Pharmaceuticals has recently become the first company to export medicines from Nepal, and has exported medicines worth around 25,000 USD to Nigeria. The company will soon start exporting to Liberia. &ldquo;Even at a time when the industrial environment is not so good, we have been able to export medicines for the first time in Nepal. If the conditions become better, we can export even more,&rdquo; says Pandey. According to him, there is huge possibility of drug export from Nepal, and Lomus is the proof of it. Lomus contributes to 3.5 per cent of total drug requirement of Nepal. If it runs with full capacity, it can contribute up to ten percent, says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Lomus is a company that started it journey three decades ago, and is one of the topmost pharmaceutical companies of Nepal. The company was ranked number one in terms of value and unit in the year 2000 by IMS Health Switzerland. The company manufactures 270 different medicines, including psychiatric, diabetic, fertility drugs, hormonal and many others. The company&rsquo;s manufacturing plant is in Gothatar, a 72,000 sq feet state of the art facility.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Business Philosophy&nbsp;</span></strong></div>
<div>
	Pandey says that he doesn&rsquo;t want to be involved in many businesses at once. &ldquo;I start new venture only after the earlier one is successful and sustained,&rdquo; says he. After Lomus started to do well, Pandey established Cosmos Cement Industries in Janakpur 12 years ago. &ldquo;The condition was not favourable back then, but still I made it survive. Two years ago, I set up Eastern Cosmos Cement Industry in Biratnagar,&rdquo; informed Pandey. Both the industries manufacture 400 MT of cement per day now. Also, he started manufacturing clinkers from Janakpur that is enough for both the companies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he faced a lot of problems in manufacturing sector, like power outage, labour problems, and government policies among others. &ldquo;The government wasn&rsquo;t also very supportive. So I looked for some other sectors that are unaffected by labour problems,&rdquo; says He. That&rsquo;s when he started Shikhar Insurance Company Ltd, for some financial security. Pandey is also the Chairman of Citizens Bank International Ltd and Mountain Energy Pvt Ltd, a hydropower company. The company has produced five megawatts of energy and it is already connected to the national grid. His another venture, Lomus Herbineria P Ltd manufactures herbal medicines. &ldquo;Nepal has immense potential in manufacturing herbal medicines, that&rsquo;s why I started the company,&rdquo; explains Pandey. The company manufactures herbal medicines for liver, cough syrups, blood purifying medicines, shilajit tablets among others.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he works only in the sectors where he has expertise, and believes all should do this for success. &ldquo;A country can prosper and get renowned through only one brand or one product, like many other countries in the world,&rdquo; says Pandey. He wants his medicines to do the same for Nepal. &ldquo;Nepal can&rsquo;t compete with the world in manufacturing automobiles or other similar products, but we can do that through Herbal medicine. I will focus on that in the future,&rdquo; says he. According to him, herbal medicines can do many things that allopathic medicines cannot, and has comparative advantage. A company should manufacture a unique product, make the company sustain and then should look after branding as it is the key to success of the manufactured product, says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Pradeep Jung Pandey,Vice President of Federation of Nepalese Chambers of Commerce and Industry " src="/userfiles/images/pjp1.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 349px;" />Early Life&nbsp;</span></strong></div>
<div>
	Born to Purna Jung Pandey and Dev Kumari Pandey in Chhetrapati of Kathmandu in 1950, Pandey was basically brought up by his grandfather in a joint family. His father passed away when Pandey was only five years old, so he says he doesn&rsquo;t have much memories of him. &ldquo;My childhood was very simple. There was no TV or entertainment medium of any such sort. I spent my childhood playing with my friends in the streets,&rdquo; recalls Pandey. According to Pandey, he was always an above average student, and used to study quite hard. &ldquo;I have never failed in any examinations since I was a child,&rdquo; says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He did his schooling from JP School and completed his SLC from there. He did his graduation from Public Commerce Campus. As his grandfather had fought in World War II, Pandey initially had thoughts of joining the army. His family inclination was also towards the army owing to the respect and social status. But unfortunately for him, his eyesight wasn&rsquo;t fit for being in the army, and he didn&rsquo;t apply. Today, Pandey thinks of it has a fortunate coincidence. He believes he has served his country more as an industrialist than he could have done as an army man. &ldquo;Helping a country economically is the best you can do for your country,&rdquo; says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">The Start&nbsp;</span></strong></div>
<div>
	After he completed his M Com from TU in the year 1972, he became interested in financial matters and thought of doing business. Instead of trading business, he chose manufacturing. &ldquo;As medicines are one of the most critical things for Nepal, I thought of manufacturing it and opened Lomus Pharmaceuticals,&rdquo; recalls Pandey. Royal Drugs was the only company manufacturing drugs back then. That&rsquo;s when he thought that private companies can also do the same. &ldquo;If you start a general manufacturing company, you will have many competitors. But pharmaceutical is a technical sector, so there is relatively less competition. This was another reason for me to choose the sector,&rdquo; explains he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Personal Side&nbsp;</span></strong></div>
<div>
	Married to Urmila Pandey in 1975, Pandey is father of three sons, Prabal, Pratap and Prajwal. His elder son Prabal is also the MD of Easter Cosmos Cement Industry and also looks after manufacturing at Lomus. Pandey says he is quite religious and spiritual, and believes that we should preserve our tradition and culture. &ldquo;We should follow our own culture as it is our true identity. We should be honest towards our profession, nation and tradition as well,&rdquo; says Pandey. According to him, a successful entrepreneur should also pay attention towards religion and culture.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He starts his day by going for a morning walk at 6, and does some exercise. He is always at his office earlier than his staffs. He says that an entrepreneur should work more than his staffs to sustain his business. In his free time, he is involved in writing articles related to economics. He has also written a few songs, and wants to guide the society towards a positive direction through his work. Pandey is quite an easy going person, and says he receives phone calls from everyone, even from the unknown numbers. &ldquo;It is very easy to get in touch with me,&rdquo; says he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey loves to travel to new places and learn new culture and lifestyle. He says travelling recharges you and fills you with new energy to go on. He is also interested in economic systems of various countries, and has extensively travelled Nepal and India. He has also been to US and many countries of Europe. Pandey only takes vegetarian food three days a week and fasts two days a week. He reserves his Saturdays for his family and relatives, and doesn&rsquo;t get involved in business activities unless it&rsquo;s very urgent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he isn&rsquo;t very conscious about brands, and lives a simple life. He owns a Toyota Rav 4 and Nissan Datsun. Pandey carries an iPhone 5 and Samsung S4. He uses gadgets for the facilities they provide, and says one should be familiar with technology for making his time more productive.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says there are more opportunities than challenges in Nepal. He believes that one should not be over ambitious and know his limits to be successful. &ldquo;Satisfaction is a major thing for running a successful business. One should be an expert in his field and success will surely follow,&rdquo; says Pandey. Pandey firmly believes that dedication, honesty, hard work and a positive mindset are essential for success. &ldquo;Honesty always pays in the long run,&rdquo; says he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he believes in fair competition and coexistence in business. In the future, he wants to diversify his businesses and manufacture better quality products. He also has plans of making his medicine brands renowned in Nepal and even in the international sector. &ldquo;Instead of diverting your focus at many things, one should concentrate on improving the quality of what he already owns,&rdquo; says Pandey.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-22',
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			'description' => 'Pradeep Jung Pandey, MD and Chairman of Lomus Pharmaceuticals Pvt Ltd and Vice President of Federation of Nepalese Chambers of Commerce and Industry is a familiar name in Nepali business sector.',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1676',
			'article_category_id' => '50',
			'title' => 'Feedback August 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>Inclusive Growth</strong></div>
<div>
	&nbsp;</div>
<div>
	Inclusive growth came into existence when the developmental models and theories of economic development could not address people from all walks of the society. When one sector developed and prospered, the other remained undeveloped. In the race of economic development, the riches went on getting richer while the poorer went on remaining poorer. Similarly, the difference of classes was clearly visible. In the context of South Asia and especially Nepal, the diversity of ethnicity and caste system was equally diverse in terms of the prosperity and level of development. So, the model of inclusive development for Nepal should be an attempt to bring such marginalised groups of people that have been in poverty and fallen backward in the process of mainstream development, no matter to which caste or ethnic division they belong to. The aim must be the economic prosperity and increased level of human development at the same time for people living in the grassroots.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But, where I think the Nepali politics failed to hit the right chord is, it mostly focused on devolution of state power and territory more than on equal distribution of resources and ways to attain balanced development throughout the country. We focused more on federal models based on identity politics. The identity based federal restructuring alone cannot ensure inclusive development. It more or less takes of economic development that can reach to the majority of people. Though the inclusive development tilts more towards the social development and social inclusion, it cannot be separated from the economic development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Pratikshya Bhandari, Shantinagar, Kathmandu</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Market Presence&nbsp;</strong></p>
</div>
<div>
	I believe Mahindra and Mahindra remains far behind Sworaj and Sonalika tractors in far western and mid western Nepal. One of the reasons behind this is that tractors from Mahindra and Mahindra are priced comparatively higher. Although this brand has worked with Agni Incorporated in Nepal, I don&rsquo;t find it having aggressive and effective marketing policies compared to some of its biggest competitors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Arjun Kshetry via website</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Home Stay&nbsp;</strong></p>
</div>
<div>
	Home stay service initiated in Buraunse, one of the remote villages of Humla district is a praiseworthy initiative to bring tourists to Humla. It would not only allow experiencing the lifestyle and culture of Humlis first hand, but also provide a source of livelihood for local people. The culture, traditions and the scenic beauty of Humla can be a perfect destination to domestic tourists, researchers and also trekkers from abroad. The home stay facility initiated by the Great Himalaya Trail there could lead to an evolution of tourism activities through replication in surrounding villages and the development of tourist friendly attitude in local people. In remote villages similar to those of Humla, people can make tourism their main source of income and create markets for local products. But the development of tourism in villages would not be possible only through local initiative. It must be backed by state policies and projects for the promotion and development of tourism activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Sandesh Niroula, Biratnagar&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Merger Movement&nbsp;</strong></p>
</div>
<div>
	After much talk about the merger of banks and financial institutions, it seems conversation has shifted to the insurance business. Insurance is also another sector where companies have not reached the majority of Nepal&#39;s population. First, the general public is less aware about the benefits of subscribing to life and non life insurance policies. Second, insurance companies too are failing to penetrate the market and create awareness. Moreover, insurance subscription is related to the level of disposable income as a certain amount of monthly income is allocated for insurance premiums. Likewise, in the Nepali market, non-life insurance is still infantile. Apart from large companies, it has hardly reached the consumer level.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In an immature market for insurance products, the regulator has come up with a directive to raise paid-up capital for the companies. Therefore, it would be better to go for a merger and create a synergy effect to work effectively in the market. It would help to create a stronger company with wider reach and larger customer base. But there is not harm if companies choose to increase their capital through other means.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Bimala Nakarmi, Dhobighat, Lalitpur&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>A complete package&nbsp;</strong></p>
</div>
<div>
	I am a regular reader of the New Business Age. I am a finance student and have keen interest in banking and financial issues. The content provided by the magazine is a complete package that benefits enthusiasts like me. I would like to thank the New Business Age team for putting a huge effort on making the magazine an &ldquo;all-economic and all-financial package&rdquo;, where all curious minds have plenty of answers and guidance to their dilemmas. Good luck, and keep it up.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Amit Gnawali, Butwal, via website</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<em><span style="font-size: 11px;">Mail your feedback to P O Box 14197, Kathmandu or Email to editor@newbusinessage.com&nbsp;</span></em></p>
</div>
<div>
	<em><span style="font-size: 11px;">The mail will be edited for the purpose of clarity and brevity.</span></em></div>
<div>
	<hr />
</div>
<p>
	&nbsp;</p>',
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			'description' => 'Inclusive growth came into existence when the developmental models and theories of economic development could not address people from all walks of the society.',
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		'Article' => array(
			'id' => '1675',
			'article_category_id' => '52',
			'title' => 'Bureaucratic Budget',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The most positive development of the ordinance budget for FY 2013/14, presented on 14th July by Finance Minister Shankar Koirala, is that it proposes the income and expenditure estimates for the entire fiscal year. The budgets for the last four fiscal years had come in the form of quarterly or half-yearly estimates due to incessant political squabbles among the political parties at play. The government employees enjoyed the pay rise of some 20 per cent and private sector seemed largely contended with some liberal approaches adopted by the budget speech. The criticisms of the &#39;too large a size&#39; and &#39;implementation nightmare&#39; were routine and expected.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But, the saddest part is that this budget in a bid to please everyone with some instant toffees, fails to address the most pressing economic problems faced by Nepal at present. The Nepali economy now faces three very worrisome problems. First, the GDP growth plummets to 3.6 percent, the lowest in the decade. Second, the export-import ratio is at whopping 1:10 and the recorded trade deficit is of the last fiscal year is estimated to be well above Rs 500 billion. If service imports like Nepali students studying abroad, holiday and healthcare trips Nepalis are making abroad are also added it would cross the Rs 600 billon mark. And, the third, the authorities have failed to tame the galloping inflation, that effectively stands between 14 to 16 per cent and the CPI-based one has never gone below 10 percent for several years now.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The deficit budget by more than 25 percent of proposed expenditure even fails to acknowledge the fact that the economy is in grave crisis. It is unable figure out where the growth propellants would come about. The first three priorities of the budget are hydropower development, agriculture and infrastructure development--in that order. But, beyond rhetoric, it fails to enlist true problems and bottlenecks in respective sectors. It says many things about hydropower but fails to make any commitment on what would happen to large joint venture projects like West Seti and Arun III that are pending for years largely for unspecified reasons. Any development of hydropower projects in commercial scale will no meaning unless Nepal and India enter into power trade agreement. Bilaterally beneficial transmission lines and above all a climate of mutuality in investment and power trade are crucial, which could only go ahead if Indian investment is not discouraged. This however doesn&#39;t mean Nepal should sacrifice her interest. For any hydropower project, it would take long to be able to contribute to GDP growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Even if agriculture is deemed to be a growth engine, it is time that the sector came out of platitudes like &#39;modernization, commercialization and marketization&#39; of agriculture. The strategies of government subsidies on seeds and fertilizers adopted for years have never worked for several reasons. The sector now faces new problems like acute shortage of farm labours and sustainable pricing mechanism and value addition of products. If Nepali products were to be promoted regressive customs and other duties should be revised accordingly. But this budget doesn&#39;t even touch upon these newer challenges.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Growth by infrastructure development is highly indirect proposition. The GDP can grow with only very massive investment, not of pork-barrel nature but only in the form output targeted creation of transportation and communication linkages. In view of these realities, it can be easily concluded that the budget doesn&#39;t make any sensible effort to fill the growth gap.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is surprising to see that out of eight, the reducing the trade deficit is listed as the seventh objective. In fact, it should have been the first and the programmes like hydropower development should have been part of export promotion strategy in the long- run. Similarly, inflation control has been an outcome of a perverse nature foreign trade than the domestic trade factors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To see recent, unconventional trends in economy, both in terms of problems and prospects, we needed a clear departure from traditional bureaucratic verbose in national budget. But, this particular budget has indulged more in this outdated practice. This is truly a year of opportunity missed.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The most positive development of the ordinance budget for FY 2013/14, presented on 14th July by Finance Minister Shankar Koirala, is that it proposes the income and expenditure estimates for the entire fiscal year.',
			'sortorder' => '1536',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1674',
			'article_category_id' => '39',
			'title' => 'NIC Asia: The Synergy Effect',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal Industrial and Commercial (NIC) Bank and Bank of Asia Nepal (BoAN), two commercial banks, for the first time in the Nepali banking history merged into NIC Asia Bank Limited. The bank started its operation from June 30. The union has made NIC Asia, one of the top five banks of the country in terms of capital size and branch network.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The newly merged bank has Rs 2.31 billion as paid-up capital. Before the merger, NIC and BoAN had Rs 1.31 billion and Rs 2 billion paid-up capitals, respectively. Prabin Basnet, Chief Finance Officer at NIC Asia Bank claimed that the bank now has a reserve surplus of Rs 5 billion, one of the highest in the Nepali banking sphere. The bank&rsquo;s deposit size of Rs 40 billion and credit of Rs 32 billion makes it the fifth largest commercial bank of the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the bank has a customer base of around 275,000, also one of the highest numbers of customers being served by a Nepali bank. Basnet revealed that the bank plans to double the number within a short time. Likewise, the number of branches to cater to this number of customers is 53, spread over various parts of the country. During the merger, 13 branches of both banks operating in close proximity were consolidated and a new corporate office was set up at the Trade Tower in Thapathali. Basnet said that 13 branches to make up the consolidation will be established in new places within a year, making the bank with a network of 66 branches. He further said that the bank will add 10 new branches within three years. He said that this network expansion would help increase the financial accessibility of people in rural areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Basnet said, &ldquo;Everybody (regulator, employees, customers and peer banks) had their eyes on us as two A-class financial institutions were merging for the first time in Nepal. So, it was challenging for us to make it successful and set an example.&rdquo; Within a few weeks of joint operations, Basnet felt that it was a successful endeavour.</div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Prabin Basnet ,Chief Finance Officer, NIC Asia Bank" src="/userfiles/images/Prabin%20Basnet.jpg" style="width: 175px; height: 208px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Prabin Basnet</strong></div>
				<div>
					<em>Chief Finance Officer</em></div>
				<div>
					<em>NIC Asia Bank</em></div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	<strong><span style="font-size: 14px;">Beating the Challenge&nbsp;</span></strong></div>
<div>
	One of the major challenges the bank had to address was streamlining the database of two banks that were operating in two different core banking systems. According to Basnet, NIC was functioning on Pumori software platform while BoAN was operating on Pinnacle software. &ldquo;It was a herculean task to streamline a huge amount of data of both banks into the Pinnacle platform while maintaining integrity. Similarly, re-training the team to make it comfortable with the new platform was another great task during the merger process,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Basnet, a year passed on while completing the technical tasks of merging. &ldquo;Both banks were functioning in different environments and working culture but were sound A-class commercial banks. Handling regular tasks along with special works of the merger was exciting, fun and challenging at the same time,&rdquo; he explained. Basnet said that the hard work of the entire team has paid back. He said that a joint merger integration steering committee was formed under which 16 task forces were created to work out problems and challenges. Similarly, more than 50 staff persons were involved in completing special tasks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The due diligence process was completed through a competitive bidding. &ldquo;The request for proposal we prepared was the most comprehensive due diligence request for proposal. This has set a landmark for due diligence,&rdquo; he said adding that a yearlong homework has helped in meeting the target of merger &ndash; creating a synergy effect. He also said that the effects will be visible right from the first quarter of the new financial year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Marrying the HR&nbsp;</span></strong></div>
<div>
	Managing the human resource to keep everybody happy and create a win-win situation for employees of two merging companies is said to be one of the biggest challenges. According to Basnet, this task has been completed swiftly by NIC Asia.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The two banks had almost 650 employees and they were assured that nobody will have to lose their jobs. Rather, the merger brought about new career development avenues and opportunities. &ldquo;Since the signing of the memorandum of understanding between the two companies for merger, it was clear that employees will not be laid off and the remuneration package they were receiving will not be reduced,&rdquo; Basnet said, &ldquo;As the employees had expectations to work for a better and stronger company, they provided moral support during the entire process.&rdquo; Both the banks soon after the merger decision had started activities to develop bonding between employees with diverse skills working in different work environment and culture.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="NIC ASIA BANK" src="/userfiles/images/NICASIA1.jpg" style="width: 500px; height: 210px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Customers in Transition&nbsp;</span></strong></div>
<div>
	Customers too expected that they would be availed of better services from a new, bigger and better bank, said Basnet. &ldquo;Customers were confident and never questioned the security of their deposits during the transition. They have even encouraged us with a promise to increase the deposit,&rdquo; he added and also committed to provide even better products and services, higher than customer expectations, in the days to come.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Changes in account numbers, cheque books and other structural changes due to the merger was well communicated through media, websites, personalised letters, and customer care centres. Similarly, the interest rates on deposits and credits were streamlined few weeks before the merger took place.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Rebranding&nbsp;</span></strong></div>
<div>
	Basnet said that rebranding and brand building is a challenging task as both banks had a legacy of their own that cannot be easily forgotten. &ldquo;Creating an image of strong and capable banking is challenging. We started the rebranding campaign after a long exercise,&rdquo; he said. The red colour used in the logo of the bank tries to communicate that NIC Asia is attempting to establish itself as an aggressive player in the banking sphere. Basnet said that the new logo also symbolises five principles of the Panchsheel, which are also the internal strategies of the bank.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As a new and rebranded company, NIC Asia plans to move ahead aggressively as a key player in the banking sector. Basnet said that the bank does not need to revamp its products as the range of products and services provided by both the banks were quite innovative ones. However, he hinted that the bank will focus on technology-based products and branchless banking services.</div>
<div>
	&nbsp;</div>',
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			'description' => 'NIC Asia Bank Limited created a milestone in the Nepali banking sphere through a successful merger of two commercial banks for the first time in Nepali banking history.',
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		'Article' => array(
			'id' => '1673',
			'article_category_id' => '150',
			'title' => 'Business Briefs (19 - 25 August 2013)',
			'sub_title' => '',
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			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="LG’s Side-by-side Refrigerator" src="/userfiles/images/lg(2).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 95px; height: 100px;" />LG&rsquo;s Side-by-side Refrigerator</span></strong></div>
<div>
	LG has launched a new side-by-side refrigerator in the market. The refrigerator with net capacity of 506 litres and has features like wide hidden touch display, tempered control drawer and glass shelves and water and ice dispenser among others. The freezing compartment comes with express freezing technology and also has interior LED lights.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Micromax 4 " src="/userfiles/images/mx.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 90px; height: 120px;" />Micromax 4 Launched</span></strong></div>
<div>
	Micromax has launched its new smartphone Canvas 4, the latest upgraded version in the Canvas series in the market. Canvas 4 is powered by a 1.2 GHz Quad Core Cortex A7 processor and runs on Android Jelly Bean 4.2 OS. It comes with 1 GB of RAM, 16 GB internal and 32 GB expandable memory. It sports a high definition 5 MP front camera, 13 MP back professional camera, auto focus, 99 burst shots, 4-way panorama and LED flash. It supports video calling and has a 5 inch IPS LCD multi-touch screen.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Pepsi Awards" src="/userfiles/images/20.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 58px;" />Pepsi Awards Winner of 20-20 Campaign</span></strong></div>
<div>
	Pepsi has awarded two million rupees to the winner of its 20-20 promotion campaign. Pepsi gave Rs 7,200,000 to consumers as part of the campaign which ran from June 16 to August 6. According to a press release from the company, the campaign had close to 3, 00,000 participants through SMS and events. The campaign was launched with the slogan &lsquo;Ru Bees Ma Bees Lakh, Jitau Lakhau Lakh&rsquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Springwood’s Season SALE" src="/userfiles/images/springwood(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 41px;" />Springwood&rsquo;s Season SALE</span></strong></div>
<div>
	Springwood, men&rsquo;s garment brand marketed by Surya Nepal Pvt Ltd is offering &lsquo;end of season&rsquo; sale through various outlets throughout Kathmandu and outside as well. The sale offers discounts of 50, 35 and 25 per cent on Springwood&rsquo;s collection of shirts, t-shirts, trousers, jeans, sweaters and sweat shirts. The sale is valid form 15 August to 15 September 2013.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="IME" src="/userfiles/images/ime.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 56px;" />IME launches &lsquo;Dashain Ma SLC&rsquo; Campaign</span></strong></div>
<div>
	International Money Express (IME) has launched a consumer promotion campaign named &lsquo;Dashain Ma SLC with the onset of this year&rsquo;s festive season. During the two month long campaign starting from August 17, 2013, all IME customers coming to IME agent outlets to avail remittance services will get a chance to win various exciting prizes. During the campaign period, IME will give away 60 Samsung smart phones every day, 8 LED TVs every week and a Hyundai Eon as the bumper prize at the end of the campaign.</div>',
			'published' => true,
			'created' => '2013-08-20',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'LG has launched a new side-by-side refrigerator in the market.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1672',
			'article_category_id' => '149',
			'title' => 'Steady Manufacturers',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Suraksha Adhikari</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Rajesh Agrawal Director, RMC" src="/userfiles/images/ra.jpg" style="width: 200px; height: 211px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>&nbsp;Rajesh Agrawal</strong></div>
				<div>
					Director, RMC</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Established in 1993, Rajesh Metal Crafts Ltd (RMC) has been a familiar name in the steel and manufacturing business. Initially established as Rajesh Hardware Company, it only imported steel from Japan, Korea and other countries. But with the increase in manufacturing activities in the country, the partners of Rajesh Hardware Company decided to enter the metal business themselves and established RMC.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Named after the Company Director, the venture began as a family business which commenced with the concept of constructing paint packing steel drums with an initial investment of Rs 5 million. With a widening scope for metal business in Nepal over the years, RMC has been expanding business accordingly and is considered as one of the best manufacture service providers in Nepal today.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We had no experience in the manufacturing industry but were confident that the business will surely succeed in time and as per expectations, business expanded with the rising living standards of people,&rdquo; said Director of RMC, Rajesh Agrawal.</div>
<div>
	&nbsp;</div>
<div>
	Explaining the initial phase, Agrawal said, &ldquo;There was no concept of industrialisation during the initial years. Now the country is moving forward in this aspect. Though the Maoist problem had created hindrance mid-way, it has been improving now.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Initially focused on local traders only, RMC also began to export steel to India. Forty per cent of the annual turnover that the company registers today is earned through exports. RMC cement has also recently started exporting from Nepal and is the first company in Nepal to do so.</div>
<div>
	&nbsp;</div>
<div>
	The company has been providing quality products to its consumers including MS black pipe, GI Pipe, Galvanised Corrugated Sheets, GI Sheets, CR sheets and Colour Coated Sheets.</div>
<div>
	&nbsp;</div>
<div>
	Having 150 dealers all over the country, the company faced a couple of hurdles on the way to success. &ldquo;The Maoist problem and political instability are the biggest hindrances to the growth of the company,&rdquo; states Agrawal. Along with this, Agrawal believes that power outage has also created a lot of problems in the production of manufacturing materials.</div>
<div>
	&nbsp;</div>
<div>
	Focusing on positive aspects, Agrawal highlights the growth of consumerism in recent years. &ldquo;With the growth of various aspects of the economy, the affordability of consumers has been increasing. With this, consumerism in steel has also been increasing.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;In villages, people who had thatched roof houses are slowly transforming to steel sheets with a rise in their living standards,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	The per capita steel consumption of Nepal is 30kg per person which is one of the lowest in the world. &ldquo;A stable political condition in the country can boost the steel market,&rdquo; Agrawal added, speaking about the high scope of steel consumption here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	RMC has been a consistent brand for the last 15 years. &nbsp;Talking about market shares, Agwaral said that it is 50 per cent in black pipes, 25 percent in CR sheets and 20 percent in GI pipes. &ldquo;We have aimed to increase exports with value addition to products by forward and backward integration,&rdquo; he stated.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Having started with around 15 employees only, the company now has 480 employees hired. The RMC group also has investments in H&amp;B Development Bank and Prudential Insurance Company.</div>
<div>
	&nbsp;</div>
<div>
	Talking about support from the government Agrawal said, &ldquo;The government has provided tax free provisions for our exports.&rdquo; Full time electricity to all industries would be appreciated but the government is not in the condition to fulfill such requirements. We should take some steps ourselves to solve this problem, &ldquo;he added.</div>
<div>
	&nbsp;</div>
<div>
	Considering the Jagadamba Company in the Pipe industry and Hulas Steels and Arati Steels in GI Sheets as major competitors, the company is well on its own track to provide quality products to consumers with an annual turnover of Rs 5 billion, according to Agrawal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As a part of its promotional campaign and advertisement, the company has been disseminating information through Agrawal Television Commercials, Print advertisements, audio advertisement in FM and scratch coupon schemes for consumers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Fulfilling corporate social responsibility, we have installed water tanks in the villages of the employees of the company, and have been providing free medical treatment for the families of our workers,&rdquo; Agrawal said. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With plans to construct a clinker-based cement industry in Palpa, the company now aims to produce clinkers in Nepal itself &ndash; a product which was thus far only imported from India. &nbsp;</div>',
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			'description' => 'Established in 1993, Rajesh Metal Crafts Ltd (RMC) has been a familiar name in the steel and manufacturing business.',
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			'id' => '1671',
			'article_category_id' => '115',
			'title' => 'Tech Briefs (19 - 25 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="fACEBOOK" src="/userfiles/images/FB.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 46px;" />Facebook Eyes Mobile Payment Feature</strong></span></div>
<div>
	Facebook, the world&rsquo;s largest social networking company, is planning to come up with a new mobile payment feature. It will use payment details added by users to their Facebook account to automatically fill in forms when they make purchases on mobile applications. Various companies have been looking to tap into mobile payments markets. However, Facebook said the feature would not involve moving the payment processing away from an app&rsquo;s current service provider.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Smartphones" src="/userfiles/images/SP.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 59px;" />Smartphones Out-sell Basic Handsets</span></strong></div>
<div>
	Smartphone sales exceeded feature phone sales for the first time in the April-to-June period, according to research firm Gartner. Worldwide mobile phone sales touched the figure of 435 million units. Smartphone sales alone accounted for 225 million units, up 46.5 per cent from the previous year. Feature phones end up with 210 million units, down 21 per cent. The highest smartphone growth rates recorded in Asia, Latin America and Eastern Europe, the firm said. However, a competing firm, IDC, said this milestone had already been reached in the first three months of 2013.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="NASA" src="/userfiles/images/NASA.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />NASA Sending World&rsquo;s First 3-D Printer into Space</span></strong></div>
<div>
	NASA is set to launch world&rsquo;s first zero-G-ready 3D printer into space next year, during its resupply mission to the International Space Station, so that parts can be built on-demand in space. Space manufacturing company Made in Space&rsquo;s customised 3D printer will be the first device to manufacture parts away from planet Earth, researchers said. The 3D printing in Zero-G Experiment will validate the capability of additive manufacturing in zero-gravity. &nbsp;&ldquo;Imagine an astronaut needing to make a life-or-death repair on the International Space Station,&rdquo; said Aaron Kemmer, CEO of Made in Space on the company&rsquo;s website. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Apple" src="/userfiles/images/APL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 53px;" />Icahn Buys Stake in &lsquo;Undervalued&rsquo; Apple</span></strong></div>
<div>
	Billionaire investor Carl Icahn says he has built up a &ldquo;large&rdquo; stake in Apple. Mr Icahn says Apple shares are &ldquo;extremely undervalued&rdquo; and wants Apple to carry out a bigger share buyback. In April, Apple said it would return $100bn (&pound;65bn) to shareholders by the end of 2015, by raising its dividend and buying back shares. Mr Icahn said he had a &ldquo;nice&rdquo; conversation with Apple&rsquo;s chief executive Tim Cook and plans to speak to him again shortly. In response, Apple said in a statement: &ldquo;We appreciate the interest and investment of all our shareholders. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Office 365 " src="/userfiles/images/365.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 59px;" />Microsoft Releases Office 365 for Android&nbsp;</span></strong></div>
<div>
	Microsoft has released a version of its office programme Office 365 designed to be used on smartphones with the Google operating system Android. The app was initially available only for US users through the Google Play Store but is being gradually activated in more countries. The app allows documents from Excel, Word and PowerPoint to be viewed on mobile devices, edited in limited fashion and shared in the cloud service SkyDrive. Those who subscribe to Office 365 can download the software for free.&nbsp;</div>
<div>
	&nbsp;</div>',
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			'title' => '‘Family Comes First For Me’',
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	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt=" Umang Rana,General Manager , Webster Properties" src="/userfiles/images/ur.jpg" style="width: 200px; height: 220px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>&nbsp;Umang Rana</strong></div>
				<div>
					<em>GM,Webster Properties</em></div>
			</td>
		</tr>
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<div>
	He starts his day early and amid hustle bustle of daily city life, he never forgets to teach his son about values and the importance of nature in life.</div>
<div>
	&nbsp;</div>
<div>
	Meet the General Manager of Webster Properties, Umang Rana for whom separating hectic professional and personal life is not a daunting task, which he is maintaining for several years.</div>
<div>
	&nbsp;</div>
<div>
	While interacting with The Corporate correspondent Suraksha Adhikari, he says, &ldquo;Family comes first for me and work will go on accordingly&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Defiant from other senior professionals who hardly get time to spend time with their family members due to officials wrangling, Rana customized his lifestyle maintaining every minute responsibility carefully in office as well as at home.</div>
<div>
	&nbsp;</div>
<div>
	A big time sports lover and his fascination towards driving cars and bikes give him a reason to live like king size.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;My son is growing up and he has so many queries in his mind. I listen and talk to him which has been my favourite pass time,&rdquo; he says.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He proved himself as a good manager of time and therefore he succeeded in maintaining a balance between his personal and professional life. For him a person can do good business only after his or her family is adequately taken care of.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;I never bring office at home and even avoid taking calls unless it is very urgent. I prefer to spend quality time with my family because they give me strength to work hard next day,&rdquo; Rana said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He says, &ldquo;I love spending some quality time with my son and wife and try to make frequent dining with them to break the monotony. It makes us happy and developed a sense of responsibility and bonding in each other&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Interestingly, on vacation he is very particular about the places and always tries to visit those places and countries which will educate them especially his son about the place and its historic value.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We plan as per our son interest and we try to visits those places which are serene and calm. I prefer to be with the nature, but as my son is small and I prefer those places which will give some education to him,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	A nature lover has a long list of his favorite holiday destination starting from Hawaii, Latin America to Eastern Europe. He recently visited to Dubai in June with his family and could resist to share his experience during his stay.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	An avid sport lover, Rana rates himself as master of all and jack of none in sports. &ldquo;Still football and cricket is on my top list,&rdquo; he admitted.</div>
<div>
	&nbsp;</div>
<div>
	He prefers not to engross too much on social networking and spend some time in watching and even for a long drive with his family for a rendezvous with nature.</div>',
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			'id' => '1684',
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			'title' => 'Towards Prosperous  Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	What are the elements that shape the country&rsquo;s transition from volatile politics to stable democracy? All too often, policy analysts focus on the political process, while neglecting the vital role of economic reform in determining democratic success or failure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the last decade, high unemployment and lack of entrepreneurial opportunities posed serious challenges to Nepal&rsquo;s transition. On the other hand, the country faced growing unresolved grievances caused by issues such as misappropriation of private property, rampant corruption and widening inequality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yet, there is silver lining. Despite a decade-long political turmoil and armed conflict, the country&rsquo;s economy was successful enough to maintain its basic economic indicators in a positive direction. It is for sure that the country will go through a long and complex journey before the current political transition will settle to form a stable democracy. The question remains as to how to unleash economic prosperity in the current situation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Many believe that the country can achieve prosperity if elections are held on time as political parties will agree on a common economic agenda to take the country into a prosperous future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government on July 14 announced the annual budget of Rs 517.24 billion for the Fiscal Year 2013-14 through an ordinance. This is the first time in two years that a government budget has been announced for the entire fiscal year before the fiscal year begins. The budget of the current fiscal year gives special emphasis on elections to the Constituent Assembly by earmarking Rs 16 billion to hold the CA election. The budget has also emphasised on sustainable development along with economic growth and stability.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government is heading towards a dream of achieving the status of a &lsquo;developing country&rsquo; by 2022 through a three-year plan. Many suspect whether the Nepali economy can begin the journey of prosperity in the given circumstances. The experience of the last decade, however, shows that the country can achieve things if the CA election is held on time and if political parties are united on a common economic agenda.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Despite political instability, Nepal has witnessed a noticeable growth in all sectors during the last decade. In recent years, many banks and money transfer businesses have grown. Nepal was one of the highest receivers of remittance on the basis of the Gross Domestic Product (GDP) in 2011.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Between 1980-2012, Nepal&rsquo;s Human Development Index (HDI) rose by 3.8 percent annually from 0.234 to 0.463 today, which ranks the country 157 out of 187 countries with comparable data.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal is one of the 189 countries committed to the Millennium Development Goals (MDGs), a pledge renewed in its three year plan (2010-2013). The data from MDG progress report for Nepal 2010 prepared in partnership between the government of Nepal and the UN country team indicates that Nepal may be able to achieve most of its MDG targets by 2015.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are noticeable improvements in other economic indicators too. The national poverty line has gone down to 25 percent, net enrollment rate has increased to 93.7 percent, under five mortality has reduced to 50 per 1000 live births and maternal mortality has reduced to 229 per 100,000 live births which is almost reduction by half in 10 years&rsquo; time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Be it the health and education sector or the manufacturing and industrial sector, the country has succeeded to achieve remarkable progress despite political instability during the last decade.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Improvements in health services have resulted in a decline in the mortality rate. The declining mortality rate coupled with high fertility rate has resulted in rapid population growth. Control of malaria and other epidemics and the expansion of medical and public health facilities also reduce morbidity and mortality in the country. School enrollments of both boys and girls at all levels have increased.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are rays of hope also in the hydropower sector too. Currently a power deficit country will be a power surplus one by 2018 if all ongoing projects will be completed within a stipulated time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Around a dozen of hydropower projects including 556 MW Upper Tamakoshi, 50 MW Upper Marsyngdi, 60 MW Trishuli 3A and 42 MW Upper Modi along with others are under construction. These projects are supposed to end existing massive power outage problem and lead the country into the era of industrialisation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	During the conflict era, the tourism sector suffered a lot resulting in the closure of some renowned five-star hotels. The conflict also tarnished the image of the country in the global scene. However, the entire tourism sector has started to revive now and it is certainly no surprise that hotels have mushroomed in recent years. As the number of tourists and foreign business travelers in Nepal are growing in step with its economy, Nepal&rsquo;s rapidly maturing hotel industry is one of the key beneficiaries. The tourism sector has given much to the Nepali business community to cheer.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The total contribution of the travel and tourism sector to the GDP stood at RS. 119.1 billion in 2011, according to the World Travel and Tourism Council and was forecasted to rise by 4.8 percent in 2012 and by 4.1 percent per annum to NRP 185.5 by 2022.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Some of the road construction projects that are under the works raise hope in the realm of infrastructure development. Tripura Sundari to Satbanjha (25 km), Satbhanja to Gokuleshwar (54 km), Khodpe to Kalinga Bridge, Chainpur (62 km) are some major projects to connect rural Nepal by road access.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	These projects would lead to a 6 percent increase in the number of people with all-season road access and a 35 percent decrease in travel time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Educating and uplifting the status of the vulnerable and marginalised children, women empowerment through community-based livelihood enhancement projects is a tool to leap forward. Programmes of integrated rural development and nature conservation in the mountain region of Chitwan district is worth mentioning for steady rural reconstruction in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Not only the telecom sector but also the entire Information and Communication Technology (ICT) sector has been witnessing a remarkable growth after the political revolution in 1990. Both growth and expansion of the ICT sector has lured many brands and companies to invest in the country. The monopoly of the state-owned Nepal Telecom has ended and many players have emerged in the telecom and ICT business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Today, all districts of the country have telecom facilities and consumers are using state-of-art technology and sophisticated devices to prove themselves tech-savvy. The government and private sectors are mulling to utilise ICT to boost the economy by using its maximum potential to promote all sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In recent years, the agricultural sector has also gained attention from the government as well as the private sector. The government&rsquo;s plan to modernise agriculture, ease the distribution of chemical fertilizers, step up the construction of irrigation projects would at least decrease the country&rsquo;s dependency on import for the agro-products, making the country self-reliant.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Green Kathmandu, Clean Bagmati campaign will lift the face of the river flowing through the capital. The Melamchi Drinking Water Project will solve the problem of acute shortage of water in the Kathmandu valley.&nbsp;</div>
<div>
	It is always said that the youth are not just leaders of tomorrow but partners of today.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The population of youth between the age of 15 and 29 is 6.131 million in Nepal. This accounts for 26.5 percent of the total population. Consolidating youth for prosperous development should be the main responsibility of the state, private sectors, and civil society.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The nation should take advantage of young talent and energy, simultaneously solving problems of violence, instability and abusive behaviour. Considering these facts, it is necessary to invest energy and capacity embodied in the youngsters in a constructive way for the development of our country by making the rural youth competent and responsible.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Since we are going through a post conflict period, the state machinery should not neglect this mass. The government should come up with a plan to engage these large numbers of youth in creative and entrepreneurial ventures. This is the need of hour of our country. Also, it is the only way to enhance our youth with their energy and efforts.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a country like Nepal, real development Let us dream together that one day the rural youth of Nepal will be able to lead not only the development process but also play a vital role in the economic, cultural and political sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As in an essay by noted litterateur Laxmi Prasad Devkota entitled &lsquo;Is Nepal Insignificant?&rsquo; where he eloquently writes about the prospects of Nepal, this country has tremendous potential for economic growth. But all we need to boost the country&rsquo;s economy are commitment from the political leadership, positive thinking of the general public and sincere and genuine efforts from the private sector.</div>
<div>
	&nbsp;</div>',
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			'description' => 'In an ideal situation, we have hopes of becoming Switzerland. In reality, our conversation begins with negative news. It seems Nepalis are very enthusiastic to change the country but put in little effort for their own part',
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	(int) 1 => array(
		'Article' => array(
			'id' => '1683',
			'article_category_id' => '57',
			'title' => 'Establishing A Noodle’s Brand',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Noodles have become a Nepali staple. With so many new brands in the market, competition for consumer loyalty is fierce. The first homegrown manufacturer, in the early eighties, was Gandaki Noodles of Pokhara, which introduced Rara (named after a mountain lake). Then, around 1985, Wai Wai, manufactured by the Chaudhary group, entered the market with a brown, spicy, precooked noodle, which became an instant crowd pleaser in the urban centers. Along with this another brand RumPum appeared the market in late 90s.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the past few years many players have entered the field, and today committed noodle fans can choose from a couple of dozen brands, manufactured by a dozen companies. Along with this, eating a noodle has been a culture among Nepalis and the business is doing well in the market as well. Here the question is&mdash;what makes noodle business sustainable among customers and in the market?&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Entrepreneurs believe that powerful branding and quality of a product are two major factors that sustain a product. Noodle industries, too, are supportive to this fact. Every noodle industry, acknowledging this, involves itself in different branding strategies: be it a selection of catchy tags in a product or introducing different lucrative schemes or holding promotional campaigns directly targeting the potential consumers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To attract consumers, RumPum had run various consumer schemes including the initial highly successful offer of putting a toffee along with each Rumpum. &ldquo;We are very conscious about the brands. We have a very strong research department and an international quality lab to check our products regularly to uphold our standards,&rdquo; shares Mahesh Jaju, Managing Director of Asian Thai Foods. Jaju adds, &ldquo;Promotional campaigns play a vital role to gain favor of the consumers.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With this increasing demand among cunsomers Rum Pum ran a massive media campaingn in late 90s targeting the 8-18 years children.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the similar manner, Wai-Wai too adopted different branding policies to establish its products. GP Sah, Vice President, FMCG Division at Chaudhary Group admits that the initial days were not easy sailing. He says, &ldquo;The branding process had to be robust and scientific. We needed to be prepared for new brands that may come in the market and start competing with us. Our campaign&mdash;Hami Sabaiko Wai Wai-- certainly helped us in this regard and made the branding process quite easy.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Wai Wai also went through different other schemes as scholarship to children at schools and vitamin fortification in noodles. Wai wai focused more on making the noodle healthier by adding healthy ingredients such as vitamin.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though other brands too did something similar&mdash;vitamin fortification as well as scholarships--but that of Wai Wai had a lasting effect. While other brands provided scholarship to the students in a lump sum onetime cash payment, Wai Wai paid the money to the schools of the scholarship recipients and started collecting their progress reports. &ldquo;We provided the scholarship amount in installments at regular interval so that it can have a lasting effect in the educational career of students,&rdquo; explains Sah.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	These all show that a brand exists only through excessive branding. Noodles are great snack foods. Most the younger generation people have 10 rupees in their pocket.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-23',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biztoon or voices news & articles, biztoon or voices news & articles from new business age nepal, biztoon or voices headlines from nepal,  current and latest biztoon or voices news from nepal, economic news from nepal, nepali biztoon or voices economic news and events,  ongoing bizt',
			'description' => 'Noodles have become a Nepali staple. With so many new brands in the market, competition for consumer loyalty is fierce. The first homegrown manufacturer, in the early eighties, was Gandaki Noodles of Pokhara, which introduced Rara (named after a mountain lake).',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1682',
			'article_category_id' => '41',
			'title' => 'Hotel: Rediscovery Of A Lucrative Sector',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal has again become a very lucrative country for hotel business. A number of leading global hotel chains have already declared to expand their presence in Nepal while many others are planning to enter in this small Himalaya country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Multinational hotel brands Sheraton (the largest and second oldest brand of Starwood Hotels and Resorts Worldwide) and Marriott International (a leading hotel chain based in Maryland, US) recently announced the decision to enter Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shesh Ghale, the Australia-based Nepali millionaire businessman, has entered into joint venture with Sheraton to operate a five-star hotel in Kathmandu. His MIT Group Holding Nepal recently signed an agreement with Starwood Hotels and Resort Worldwide Inc and set the project rolling.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Slated to open in February 2018, the 225-room Sheraton Kathmandu Hotel will be managed by Starwood Hotels &amp; Resorts. This project will bring around Aus $ 75-80 million in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similalry, Maliram Shivakumar (MS) Group has signed an agreement with Marriot International, a globally renowned chain of hotels, to open a four-star hotel in Nepal. Named &ldquo;Fairfield Marriott Kathmandu&rdquo;, the hotel will be located in Thamel which will start its commercial service in the beginning of 2016 with around Rs 650 million investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Various other 5- star hotels like Sambala Holdings at Maharajgunj, Chhaya Devi Complex at Thamel and Shree G Hotel are also planning to start soon. Similarly, luxurious hotels have also been established outside Kathmandu valley mainly in Pokhara, Bhairahawa, Lumbini and Nepalgunj.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the tourism industry&rsquo;s growth in Nepal, it is certainly no surprise that the hotels have mushroomed in recent years. As the number of tourists and foreign business travelers in Nepal are growing, Nepal&rsquo;s rapidly maturing hotel industry is one of the key beneficiaries. The country is booming the world of five-star hotels offering best services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Apart from 5 stars hotels, the hotels labeled as 4- star, 3- star, 2- star, other informal hotels and even home stay system have been witnessing rise in the investment with the increasing number of tourists in Nepal. Though selected number of tourists emphasize on their living standards also during their visit, most of the tourists entertain themselves on spending money on recreational activities rather than their lodging which is the main cause of flourishing the business of non star hotels and home stays.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Number of Hotels in Nepal" src="/userfiles/images/no%20of%20hotels(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 159px;" />Rising Investment&nbsp;</span></strong></div>
<div>
	According to the statistics provided by Nepal Rastra Bank, the total investment in hotel sector in Nepal till the date is Rs 16.91 billion. About 75 per cent of the entire investment in tourism sector is being done in hotel sector. The data shows that yearly investment in hotel sector only in 18 per cent while only 18 per cent of investment can be seen in other sectors of tourism.</div>
<div>
	&nbsp;</div>
<div>
	As a positive impact of Nepal Tourism Year 2011, the investment in hotel industry have started to boom. Stars hotels in Kathmandu are investing over Rs1 billion to build up their capacity and upgrade the facilities. Most of four stars hotels in the country are working hard upgrading themselves by adding new rooms and uplifting their amenities. It was crucial for such investments in hotel industry to cope up with the increasing numbers of tourist entering into Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the information from Ministry of Tourism and Civil Aviation, the hotels in Nepal have the capacity to accommodate around one million tourists at present. Similarly hotels are boosting up their occupancy level to accommodate the expected number of tourist.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The existing five star property Hotel Soaltee Crowne Plaza has renovated 130 rooms. It is replacing the TVs in all its rooms with 42 inch-LCD TVs. Similarly Radisson has already added 100 rooms. According to the hotel, the new rooms will be spacious and have contemporary looks, lighting and furniture. Hotel Yak &amp; Yeti is giving a new look to 150 rooms in the Durbar Wing while the Everest has renovated 40 of its 160 rooms. Hotel Annapurna is now working to refurbish its 150 rooms. The record number of tourist in year 2010 has made hoteliers optimistic to pick up the pace.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Home Stay in Nepal" src="/userfiles/images/hotel1.jpg" style="width: 500px; height: 319px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Home Stay System&nbsp;</span></strong></div>
<div>
	The concept of home stay program is considered to be the best alternative to hotel accommodation in the hospitality industry. Basically home stay systems are planned to increase the flow of tourists in the villages or the remote areas where the hotels are not established. But these days the home stay systems are also being urban centered. Around 60 per cent of investments of home stay system are being done around the city in the areas like Kavre, Sitapaila, Dhulikhel etc.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Tourist Inflow in Nepal" src="/userfiles/images/tourist%20inflow(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 209px;" />Tourists&rsquo; inflow&nbsp;</span></strong></div>
<div>
	According to the data provided by economic survey FY 2012, Ministry of Finance, the rate of tourist arrival in Nepal has increased by 9.08 per cent by 2011 to 2012. A total of 7,36,215 tourist entered to Nepal in the year 2011 which increased to 8,03,092 in 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the number of tourist visiting to Nepal has been increasing, their average stay in Nepal has been decreased by 0.25 percent this year.</div>
<div>
	With the increment of tourist in the country, the hotel industry doesn&rsquo;t have to see backward. Experts in the hospitality industry opine that the establishment of hotel in the area becomes the major root for the urbanization. Prasidha Bahadur Panday, former president of Hotel Association of Nepal (HAN) said that the hotel business will flourish more in upcoming days as the tourist offer first priority to lodging. The government of Nepal has prioritized tourism sector and started implementation its announcement to provide the same facilities to this sector as provided to any industry</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-23',
			'modified' => '0000-00-00',
			'keywords' => 'new business age sectoral news & articles, sectoral news & articles from new business age nepal, sectoral headlines from nepal,  current and latest sectoral news from nepal, economic news from nepal, nepali sectoral economic news and events,  ongoing  sectoral news of nepal',
			'description' => 'Nepal has again become a very lucrative country for hotel business. A number of leading global hotel chains have already declared to expand their presence in Nepal while many others are planning to enter in this small Himalaya country.',
			'sortorder' => '1543',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1681',
			'article_category_id' => '42',
			'title' => 'Budget Prospects Pulled Market Above 500',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>By Bikram Chitrakar</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="STOCK TAKING" src="/userfiles/images/sectors(2).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 905px;" />The benchmark Nepse index stretched 10.85 points or 2.14% to close at review period high of 506.45 while the low was on 23rd June with 487.63.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The index climbed back to nearly four months high surpassing the previous resistance level of 500. Investor&rsquo;s expectation of the full budget for fiscal year 2013-14 was the main reason.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the review period, the market also experienced positive supply shock. Initial public offering (IPO) of Mega Bank Nepal, right issue of Nepal Bank Ltd and some other IPOs and right issues absorbed the liquidity. This put pressure on the investors to sale off their stocks to unfreeze the funds for investment in the primary issues. Further, fiscal year-end tightening on margin loan from the financial institutions played its role to make the investors to offload some shares. Still the market saw an overall positive growth indicating further growth in the days ahead.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Rumours that Nepal Rastra Bank is all set to instruct financial institutions for raising paid-up capital acted as a spur to lift banking stocks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, Sitaram Thapaliya has been appointed as the General Manager of Nepal Stock Exchange. The position was lying vacant since January 2013 after the tenure of Shankar Man Singh came to an end. Assuming office, Thapaliya said he would try to upgrade the online trading platform to facilitate the traders beyond located outside Kathmandu valley and abroad.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Performance by Sector&nbsp;</div>
<div>
	During review period, insurance sub-index added 29.79 points. That was followed by 29.37 points up in the &lsquo;others&rsquo; sector on the back of gain in the price of Nepal Telecom. Hotels sector went up 18.22 points or 2.75 percent to 662.85. Commercial banking sector posted growth of 9.74 points. However, manufacturing sector receded 7.74 points to 868.72 while hydropower sector plummeted 1.87 points to rest at 1041.43.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sensitive index that measures the performance of 120 blue chip companies went up 2.21 points to 126.12 while the float index which is calculated on the basis of real transaction went uphill 0.26 points to 35.75. A total turnover of Rs. 1,817,767,779 was realized during the review period from 8.530,819 units of shares traded via 25,787 transactions.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As usual, the commercial bank has occupied the 77.65% of total volume of trade. Hydropower sector accounted 12.84%, insurance covered 9.57% and rest was made up by other remaining sectors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Technically, the Simple Moving Average (SMA) has been outcast by Nepse index while the index has crossed the level of 500. The 30 days SMA and 200 days SMA are in tight range suggesting resistance test at this level.</div>
<div>
	(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-23',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'The benchmark Nepse index stretched 10.85 points or 2.14% to close at review period high of 506.45 while the low was on 23rd June with 487.63.',
			'sortorder' => '1542',
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	(int) 4 => array(
		'Article' => array(
			'id' => '1680',
			'article_category_id' => '37',
			'title' => 'Gold And So-Called Regulated Gold Market In Nepal!',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Chittaranjan Pandey</strong></div>
<div>
	&nbsp;</div>
<div>
	Gold is a very important component of the human lives on the earth today. Gold not only has the metallic value but also has been used as a hedge against several risks in the human life. Today gold is used from medicines to luxury. The use of gold carries lots of historical and mythological values beyond the regular usage we talked about.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<div>
		अग्नेः प्रजातं परि यत् हिरण्यम्</div>
	<div>
		अमृतं दघे अधिमत्र्येषु</div>
	<div>
		यएनव्देद स इदेनमर्हति</div>
	<div>
		जरार्मृत्युर्भवति यो बिभर्ति ।।</div>
	<div>
		&nbsp; &nbsp; &nbsp; &nbsp;&ndash; अथर्व वेद, काण्ड १९, सूक्त २६, ऋचा १</div>
</div>
<div>
	&nbsp;</div>
<div>
	The above lines from Atharvaveda mean &ldquo;I adorn gold created or originated from fire which bestows eternity. One who adorns it is liberated from the fear of untimely death.&rdquo; This signifies how gold has gained so much of significance for us. To go deep with the importance of gold, the yellow metal is believed to be the most sattvik, meaning holy, divine or serene. It is also believed that gold destroys most of the harmful germs in our body and using gold enhances the absorption of divine energy to greater extent. Specifically, in case of women, it is believed that when women put on gold ornaments, the shakti-roop is activated and the whole family is protected.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The above mentioned reasons only signify why gold has received so much of mythological importance. Coming to these days, when people have started to take themselves above the cultural and traditional barriers, most of the things do not have the same shape. Yet, gold is successful enough to declare its commercial importance and has been luring people almost every corner of the world.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	When I talk about gold, how can I miss out talking about its importance in the currency management worldwide? Gold has played an important role in backing up the currency worldwide for long but these days, the scenario is different. We usually hear about the inverse relation of gold and US dollar. To explore the same, we need to dig back further. It was long back during the World War I when the warring nations shifted their money to a miniscule gold standard, thus bloating their own currencies to finance the war. Gold backed currency system thus lasted for long but the problem it invited was that all the countries wanted to deposit more gold to strengthen their currency which resulted major economic shocks. Coming to the era of Second World War also, the world was still tangled with the hard power and humanitarian crisis. But after the Second World War, Bretton Woods conference was organized and International Bank for Reconstruction and Development (IBRD-present World Bank) and International Monetary Fund (IMF) - called Bretton Woods Institutions were formed. Gold standard and the direct convertibility of the currencies were eradicated. Because United States was the most dominant power after the war, US Dollar was backed by gold and almost all other currencies in the world accepted US dollar to back up their currencies. Besides that, gold is held by many in various forms as a hedge against inflation and other economic disruptions. One of the most common forms of usage of gold in our society is the jewelry. Gold itself is very inert so gold salts are used for various medicinal purposes also. Gold salts are used for the treatment of arthritis; gold based injections heal and minimize the pain and swelling of rheumatoid arthritis and tuberculosis. Gold is also important in dentistry helping for restorations. Other very important use of the gold is for electroplating of gold onto base metals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After we go through the various usage forms of the precious yellow metal, we can explore why this stands as a luring metal in the market to earn maximum profit in various ways. The news heating the market these days is that the gold price is decreasing rampantly but domestic price of the gold in Nepal is not responding to it well. When there is a price hike, gold traders in our country do not wait a second to raise the price but when it is falling, the traders do not want to sell any gold to the people. Isn&rsquo;t this pathetic regulation? More frustratingly, the strike of the gold traders broke with an interesting end- &ldquo;Not penalizing the guilty&rdquo;. The gold traders would start selling gold only when the government assures that the thug is not penalized.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Please have a look at table to know how the price of gold is derived and how much of profit our gold traders earn:&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For instance, I have taken the price of gold on 26th June, 2013, the moment when price was US$1223.20 per ounce.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Through various newspaper articles, people must be aware that the market demand for gold remains around 40 kg per day whereas traders believe that the daily consumption of gold in the market remains around 30 kg on an average. On the contrary, Nepal Rastra Bank sells only 15 kg of gold daily in the market through various assigned commercial banks. On an average, there is a deficit supply of almost 15 kg. We all know gold market is REGULATED in Nepal. So let&rsquo;s not focus much on where the remaining gold to meet the market demand comes from. Rather I would like to explore with the economic benefit from the gold trading only. Even if we deduct Rs. 1000 per 10 grams as the additional costs, insurance cost- which is too much in itself and usually comes to almost half of that amount, the profit of the traders is Rs. 1085.23 per 10 grams. This means in one kilogram of gold, the traders earn Rs. 1,08,523.00 on an average. Similarly, for the official 15 kg of gold, the total earning of the traders become Rs. 16,27,845.00 on an average. These numbers will keep on growing if we intend to show their weekly and monthly income.&nbsp;</div>
<div>
	&nbsp;</div>
<table align="center" bgcolor="#E5E4E2" border="0" cellpadding="10" cellspacing="0" style="width: 500px;" td="">
	<caption>
		<strong><span style="font-size: 14px;">Gold Price Calculation</span></strong></caption>
	<tbody>
		<tr>
		</tr>
		<tr>
			<td>
				<strong>Particulars</strong></td>
			<td>
				<strong>Price (NRs.)</strong></td>
			<td>
				<strong>Remarks</strong></td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Per Ounce (As per Reuters)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">1223.20 (USD)</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">NPR/USD Selling Rate (As per NRB)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">95.51</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Gold Rate in USD (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">391.35</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">(((1223.20*0.995))/31.1)*10</span></strong></td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">In NPR (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">37,224.77</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">(392.24*95.51)</span></strong></td>
		</tr>
		<tr>
			<td>
				<div>
					<strong><span style="font-size: 11px;">Add Customs</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">(As per Republica Article)</span></strong></div>
			</td>
			<td>
				<strong><span style="font-size: 11px;">3000</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Total (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">40,224.77</span></strong></td>
			<td>
				<div>
					<strong><span style="font-size: 11px;">(Adding Price in NPR</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">and Customs)</span></strong></div>
			</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Market Price (NEGOSIDA)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">42,310.00</span></strong></td>
			<td>
				&nbsp;</td>
		</tr>
		<tr>
			<td>
				<strong><span style="font-size: 11px;">Difference in Price (Per 10 Grams)</span></strong></td>
			<td>
				<strong><span style="font-size: 11px;">2085.23</span></strong></td>
			<td>
				<div>
					<strong><span style="font-size: 11px;">(Additional Cost, Insurance</span></strong></div>
				<div>
					<strong><span style="font-size: 11px;">and Profi t)</span></strong></div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>
<div>
	The story does not end here. When we look into the real scenario, if jewelry is made out of 10 gram gold, 1 gram of other metal, besides gold,is used on an average for the bonding and many other purposes. This means that when a customer buys 10 gram of gold, s/he actually purchases only 9 grams of gold on an average. Besides that, when the price of gold increases internationally, the increment in price is implemented so promptly but when the price of gold decreases internationally, the case is different. It takes a long time for the authorized traders&rsquo; association to adjust the decreased price of gold. This clearly shows that the ethics is slumping in the REGULATED gold market of the country. Moreover, the traders go on strike, the shops are closed when price goes down as if there is no gold supply in the market which is totally against the economic theory. Other things remaining the same, the price of a commodity goes down only when the supply of the commodity increases. Unethical cartel is rampant in the gold market here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Is there no option to this? Globally, the option to this is the authorized commodity exchange which can deliver gold to the public cheaper than the other sellers. People can buy gold from the exchange and ask the jewelry shops to make the jewelry as per their requirement or they can also trade back the gold on their will. A remarkable benefit from the exchange is that people do not have to wait for hours or days for the gold price adjustments, the adjustments happen promptly in the software of exchange. Quality of the gold is not compromised; it is the same that the Nepal Rastra Bank authenticates, because the exchange will buy gold from the banks only. On the same price level given in the example above, the exchange can deliver gold at price below Rs. 41,200 per 10 grams. Isn&rsquo;t this profitable to customers? This will exactly be the WIN-WIN situation for both the counterparties.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	What the country is lacking is the regulatory framework and the market is lacking the business ethics on the whole, thus losing the customers&rsquo; faith and confidence from the market. Isn&rsquo;t it high time government starts taking commodity exchange as an alternative to maintain market equilibrium?</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 11px;"><em>(Pandey is Assistant Manager, Research &amp; Development Department at MEX Nepal Ltd.)</em></span></div>
<div>
	&nbsp;</div>
<div>
	<em>Disclaimer: The views and expressions expressed in the article are entirely personal and my employer has nothing to do with it. This is an informational piece of writing and has no intention to provoke any individual, group or entity.</em></div>
<div>
	&nbsp;</div>',
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			'description' => 'Gold is a very important component of the human lives on the earth today. Gold not only has the metallic value but also has been used as a hedge against several risks in the human life.',
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		'Article' => array(
			'id' => '1679',
			'article_category_id' => '31',
			'title' => '‘Our Clients Include Major Multinationals As Well As Small SMEs’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Hayden Davies</strong>&nbsp;is the Director of BM TRADA, a specialist testing, inspection and certification business. BM TRADA was established nearly 80 years ago in the United Kingdom that now has 40 offices in 33 different countries. Originally a civil engineer, Hayden has been with BM TRADA since 1994 and has managed a number of the business streams. In an interview with New Business Age, Hayden shared the importance of certification in industries in Nepal.&nbsp;<strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you tell us the reasons for your visit to Nepal?&nbsp;</strong></div>
<div>
	Firstly, we had to attend the annual general meeting of our company that was decided to be held in Kathmandu. Secondly, we had to meet our staff, Indian partners and clients in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is BM TRADA all about?&nbsp;</strong></div>
<div>
	BM TRADA provides certification, testing, inspection, training and technical services around the world . We are very honest in the areas we work in. We are specialists in furniture technology and testing, timber technology and have general expertise as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Who are the target clients?&nbsp;</strong></div>
<div>
	Our clients range from major multinationals to the very small SMEs. Currently, the Chilime hydropower project, ten colleges, some BFIs (Banks and Financial Institutions), textile industries are some of our clients in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How does this certification help organizations in Nepal?&nbsp;</strong></div>
<div>
	In general, it possibly helps them to operate more efficiently. Basically, having an ISO 9000 management system means the organization is more efficient and less prone to mistakes. When a mistake occurs, it will be corrected because there is a recognized system. Secondly, it helps to reassure clients of the company&#39;s performance. When a client sees an organization&#39;s management system certified by an international body, they can rest assured of good returns. The certification is also constantly reassessed. We review the system every year to check on it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you view the overall qualification of organizations in Nepal?&nbsp;</strong></div>
<div>
	The development of organizations in Nepal has been strong. They have commitment and enthusiasm to quality and that is good. What I say to these clients is -- it is very important not just to maintain the system but adding value continuously, which adds value to your business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How are you expanding your market in South Asia? What is the strategy?&nbsp;</strong></div>
<div>
	We are growing our business in South Asia and work in two ways -- the first way is through subsidiaries or in joint venture, which we might own 100 percent. In India, it is a joint venture. These subsidiaries help the company to expand further. For example, BM TRADA India has now expanded to Bangladesh, Sri- Lanka and Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the second way, we hire local representatives whose every decision made is reviewed in detail in our head office in the UK. All the controls are set within our office in UK. That is how we control and maintain quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>How do you see the future of certification in Nepal?&nbsp;</strong></div>
<div>
	It has lots of prospects. Certification is a big opportunity for companies to prove their credentials in an international stage and display international recognition to the buyers. The company demands to make buyers confident about the products while the buyers demand that the product they are buying is of reasonable quality. I think certification will grow in Nepal because it is a prerequisite for international pride.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Hayden Davies is the Director of BM TRADA, a specialist testing, inspection and certification business.',
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			'article_category_id' => '46',
			'title' => '‘Banks Contribute By Dispensing Credit And Absorbing The Additional Income Of People’',
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			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">The Everest Bank Pvt. Ltd. (EBL) appointed&nbsp;</span><strong style="font-size: 14px;">AK Ahluwalia</strong><span style="font-size: 14px;">&nbsp;as its new chief executive officer effective from July 1. Founded in 1994, the bank has been one of the leading banks of the country catering to various segments of society. Ahluwalia, who has 32 years of experience in the banking sector, was deputy general manager of the Punjab National Bank, India. He has key expertise in credit and recovery in the banking system and now leads the Everest Bank which has 50 branches, 25 collection counters and 67 ATMs. In this interview with&nbsp;</span><strong style="font-size: 14px;">Siromani Dhungana</strong><span style="font-size: 14px;">&nbsp;of New Business Age, shares his experiences in banking sector and his plans in Nepal to lead Everest Bank into the next level.&nbsp;</span><strong style="font-size: 14px;">Excerpts:</strong></div>
<div>
	<div>
		&nbsp;</div>
	<div>
		<strong>You worked with the Punjab National Bank for 32 years. How do you see the banking sector in the South Asian region?&nbsp;</strong></div>
	<div>
		In my view, there is one thing common to the entire region which is the general slowdown of the economy. The inflationary trend also affects the cost of goods produced, thus making them uncompetitive in the international market. As a result, exports slow down. There is also a general tendency on the part of entrepreneurs to procrastinate in expanding their existing units or setting up new industries due to the slow economy.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>So you think the manufacturing sector and the banking sector will go well together?&nbsp;</strong></div>
	<div>
		I believe so. When the manufacturing sector is on an upswing, more capacity is created and utilized, more jobs are created and the standard of living of employees improve. People&#39;s purchasing power improves, in turn increasing demand. This is a cycle which continues and contributes in a big way to boost the economy. Banks contribute in their own way by dispensing credit and also by absorbing the additional income of people as deposits, and investing the same.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>You were with the Punjab National Bank in Delhi before coming Everest Bank Limited. What inspired you to be here?&nbsp;</strong></div>
	<div>
		I have worked for 32 years in the Punjab National Bank, having joined as Management Trainee. During my time there, I worked in all types of branches as branch manager and also at the corporate office as well as the circle office. Now I have a chance to work as CEO at Everest Bank Ltd, which is a prominent commercial bank in Nepal. It is my privilege to be a part of this institution and it would be my endeavour to carry it forward and try and make the bank stronger within the framework of regulatory guidelines.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>What are your future plans here onward?&nbsp;</strong></div>
	<div>
		Everest Bank has been doing exceeding well. It has created a unique brand image for itself. Over a period of time, it has become one of the leading commercial banks of Nepal. I believe when you have raised expectations of your stake holders, whether customers, staff, shareholders or promoters, you have to live up to them. It takes a lot to create the brand image and it would be my priority to add further value to it. I have a great team of people working with me who are fully devoted to take the bank to the next level.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Will you bring unique products/services to push the bank to the next level?&nbsp;</strong></div>
	<div>
		I have been CEO of the bank only for a fortnight and it is too early to comment. However, my priority would be to increase the customer base of the bank, both in deposits as well as credit. The existing products are, and also in future would be, in keeping with the customers&rsquo; needs and expectations.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Let&rsquo;s talk about your career and what your banking experience has taught you.&nbsp;</strong></div>
	<div>
		My banking experience has taught me one very simple thing - that if I want my customers to be loyal to me, I have to be loyal to them. When we give correct advice to our customers and deliver exactly what we promise, their loyalty automatically grows.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Your key expertise is in credit and recovery. Can you bring some innovative ideas in these areas?&nbsp;</strong></div>
	<div>
		Credit is basically a function of delivery. For a credit customer, delivery has to be very fast. As far as recovery is concerned, it is basically about being vigilant. If we are vigilant about our accounts, and if the monitoring is good, then recovery is not an issue. Primarily, if we are able to catch signal of an account going sticky at the right time, then corrective measures can be taken immediately.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Any plans for the rural sector?&nbsp;</strong></div>
	<div>
		Prior to my joining EBL, the bank already had plans for agriculture financing, having set up a branch at Rajbiraj, Krishi Udhyam Bikash Sakha. We are also encouraging some corporate clients to boost finances in rural areas.</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'The Everest Bank Pvt. Ltd. (EBL) appointed AK Ahluwalia as its new chief executive officer',
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			'id' => '1677',
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			'title' => 'A Visionary Vanguard',
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			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sujan Tiwari</strong></div>
<div>
	&nbsp;</div>
<div>
	Pradeep Jung Pandey, MD and Chairman of Lomus Pharmaceuticals Pvt Ltd and Vice President of Federation of Nepalese Chambers of Commerce and Industry is a familiar name in Nepali business sector. But Pandey didn&rsquo;t always have thoughts of becoming a businessperson and wanted to join the army as a young man. A simple twist of fate turned him into business, and today, Pandey has many companies and industries under him and is one of the most successful Nepali business personalities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Lomus Pharmaceuticals has recently become the first company to export medicines from Nepal, and has exported medicines worth around 25,000 USD to Nigeria. The company will soon start exporting to Liberia. &ldquo;Even at a time when the industrial environment is not so good, we have been able to export medicines for the first time in Nepal. If the conditions become better, we can export even more,&rdquo; says Pandey. According to him, there is huge possibility of drug export from Nepal, and Lomus is the proof of it. Lomus contributes to 3.5 per cent of total drug requirement of Nepal. If it runs with full capacity, it can contribute up to ten percent, says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Lomus is a company that started it journey three decades ago, and is one of the topmost pharmaceutical companies of Nepal. The company was ranked number one in terms of value and unit in the year 2000 by IMS Health Switzerland. The company manufactures 270 different medicines, including psychiatric, diabetic, fertility drugs, hormonal and many others. The company&rsquo;s manufacturing plant is in Gothatar, a 72,000 sq feet state of the art facility.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Business Philosophy&nbsp;</span></strong></div>
<div>
	Pandey says that he doesn&rsquo;t want to be involved in many businesses at once. &ldquo;I start new venture only after the earlier one is successful and sustained,&rdquo; says he. After Lomus started to do well, Pandey established Cosmos Cement Industries in Janakpur 12 years ago. &ldquo;The condition was not favourable back then, but still I made it survive. Two years ago, I set up Eastern Cosmos Cement Industry in Biratnagar,&rdquo; informed Pandey. Both the industries manufacture 400 MT of cement per day now. Also, he started manufacturing clinkers from Janakpur that is enough for both the companies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he faced a lot of problems in manufacturing sector, like power outage, labour problems, and government policies among others. &ldquo;The government wasn&rsquo;t also very supportive. So I looked for some other sectors that are unaffected by labour problems,&rdquo; says He. That&rsquo;s when he started Shikhar Insurance Company Ltd, for some financial security. Pandey is also the Chairman of Citizens Bank International Ltd and Mountain Energy Pvt Ltd, a hydropower company. The company has produced five megawatts of energy and it is already connected to the national grid. His another venture, Lomus Herbineria P Ltd manufactures herbal medicines. &ldquo;Nepal has immense potential in manufacturing herbal medicines, that&rsquo;s why I started the company,&rdquo; explains Pandey. The company manufactures herbal medicines for liver, cough syrups, blood purifying medicines, shilajit tablets among others.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he works only in the sectors where he has expertise, and believes all should do this for success. &ldquo;A country can prosper and get renowned through only one brand or one product, like many other countries in the world,&rdquo; says Pandey. He wants his medicines to do the same for Nepal. &ldquo;Nepal can&rsquo;t compete with the world in manufacturing automobiles or other similar products, but we can do that through Herbal medicine. I will focus on that in the future,&rdquo; says he. According to him, herbal medicines can do many things that allopathic medicines cannot, and has comparative advantage. A company should manufacture a unique product, make the company sustain and then should look after branding as it is the key to success of the manufactured product, says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;"><img alt="Pradeep Jung Pandey,Vice President of Federation of Nepalese Chambers of Commerce and Industry " src="/userfiles/images/pjp1.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 349px;" />Early Life&nbsp;</span></strong></div>
<div>
	Born to Purna Jung Pandey and Dev Kumari Pandey in Chhetrapati of Kathmandu in 1950, Pandey was basically brought up by his grandfather in a joint family. His father passed away when Pandey was only five years old, so he says he doesn&rsquo;t have much memories of him. &ldquo;My childhood was very simple. There was no TV or entertainment medium of any such sort. I spent my childhood playing with my friends in the streets,&rdquo; recalls Pandey. According to Pandey, he was always an above average student, and used to study quite hard. &ldquo;I have never failed in any examinations since I was a child,&rdquo; says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He did his schooling from JP School and completed his SLC from there. He did his graduation from Public Commerce Campus. As his grandfather had fought in World War II, Pandey initially had thoughts of joining the army. His family inclination was also towards the army owing to the respect and social status. But unfortunately for him, his eyesight wasn&rsquo;t fit for being in the army, and he didn&rsquo;t apply. Today, Pandey thinks of it has a fortunate coincidence. He believes he has served his country more as an industrialist than he could have done as an army man. &ldquo;Helping a country economically is the best you can do for your country,&rdquo; says Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">The Start&nbsp;</span></strong></div>
<div>
	After he completed his M Com from TU in the year 1972, he became interested in financial matters and thought of doing business. Instead of trading business, he chose manufacturing. &ldquo;As medicines are one of the most critical things for Nepal, I thought of manufacturing it and opened Lomus Pharmaceuticals,&rdquo; recalls Pandey. Royal Drugs was the only company manufacturing drugs back then. That&rsquo;s when he thought that private companies can also do the same. &ldquo;If you start a general manufacturing company, you will have many competitors. But pharmaceutical is a technical sector, so there is relatively less competition. This was another reason for me to choose the sector,&rdquo; explains he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Personal Side&nbsp;</span></strong></div>
<div>
	Married to Urmila Pandey in 1975, Pandey is father of three sons, Prabal, Pratap and Prajwal. His elder son Prabal is also the MD of Easter Cosmos Cement Industry and also looks after manufacturing at Lomus. Pandey says he is quite religious and spiritual, and believes that we should preserve our tradition and culture. &ldquo;We should follow our own culture as it is our true identity. We should be honest towards our profession, nation and tradition as well,&rdquo; says Pandey. According to him, a successful entrepreneur should also pay attention towards religion and culture.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He starts his day by going for a morning walk at 6, and does some exercise. He is always at his office earlier than his staffs. He says that an entrepreneur should work more than his staffs to sustain his business. In his free time, he is involved in writing articles related to economics. He has also written a few songs, and wants to guide the society towards a positive direction through his work. Pandey is quite an easy going person, and says he receives phone calls from everyone, even from the unknown numbers. &ldquo;It is very easy to get in touch with me,&rdquo; says he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey loves to travel to new places and learn new culture and lifestyle. He says travelling recharges you and fills you with new energy to go on. He is also interested in economic systems of various countries, and has extensively travelled Nepal and India. He has also been to US and many countries of Europe. Pandey only takes vegetarian food three days a week and fasts two days a week. He reserves his Saturdays for his family and relatives, and doesn&rsquo;t get involved in business activities unless it&rsquo;s very urgent.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he isn&rsquo;t very conscious about brands, and lives a simple life. He owns a Toyota Rav 4 and Nissan Datsun. Pandey carries an iPhone 5 and Samsung S4. He uses gadgets for the facilities they provide, and says one should be familiar with technology for making his time more productive.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says there are more opportunities than challenges in Nepal. He believes that one should not be over ambitious and know his limits to be successful. &ldquo;Satisfaction is a major thing for running a successful business. One should be an expert in his field and success will surely follow,&rdquo; says Pandey. Pandey firmly believes that dedication, honesty, hard work and a positive mindset are essential for success. &ldquo;Honesty always pays in the long run,&rdquo; says he.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Pandey says he believes in fair competition and coexistence in business. In the future, he wants to diversify his businesses and manufacture better quality products. He also has plans of making his medicine brands renowned in Nepal and even in the international sector. &ldquo;Instead of diverting your focus at many things, one should concentrate on improving the quality of what he already owns,&rdquo; says Pandey.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Pradeep Jung Pandey, MD and Chairman of Lomus Pharmaceuticals Pvt Ltd and Vice President of Federation of Nepalese Chambers of Commerce and Industry is a familiar name in Nepali business sector.',
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			'id' => '1676',
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			'title' => 'Feedback August 2013',
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			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>Inclusive Growth</strong></div>
<div>
	&nbsp;</div>
<div>
	Inclusive growth came into existence when the developmental models and theories of economic development could not address people from all walks of the society. When one sector developed and prospered, the other remained undeveloped. In the race of economic development, the riches went on getting richer while the poorer went on remaining poorer. Similarly, the difference of classes was clearly visible. In the context of South Asia and especially Nepal, the diversity of ethnicity and caste system was equally diverse in terms of the prosperity and level of development. So, the model of inclusive development for Nepal should be an attempt to bring such marginalised groups of people that have been in poverty and fallen backward in the process of mainstream development, no matter to which caste or ethnic division they belong to. The aim must be the economic prosperity and increased level of human development at the same time for people living in the grassroots.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But, where I think the Nepali politics failed to hit the right chord is, it mostly focused on devolution of state power and territory more than on equal distribution of resources and ways to attain balanced development throughout the country. We focused more on federal models based on identity politics. The identity based federal restructuring alone cannot ensure inclusive development. It more or less takes of economic development that can reach to the majority of people. Though the inclusive development tilts more towards the social development and social inclusion, it cannot be separated from the economic development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Pratikshya Bhandari, Shantinagar, Kathmandu</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Market Presence&nbsp;</strong></p>
</div>
<div>
	I believe Mahindra and Mahindra remains far behind Sworaj and Sonalika tractors in far western and mid western Nepal. One of the reasons behind this is that tractors from Mahindra and Mahindra are priced comparatively higher. Although this brand has worked with Agni Incorporated in Nepal, I don&rsquo;t find it having aggressive and effective marketing policies compared to some of its biggest competitors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Arjun Kshetry via website</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Home Stay&nbsp;</strong></p>
</div>
<div>
	Home stay service initiated in Buraunse, one of the remote villages of Humla district is a praiseworthy initiative to bring tourists to Humla. It would not only allow experiencing the lifestyle and culture of Humlis first hand, but also provide a source of livelihood for local people. The culture, traditions and the scenic beauty of Humla can be a perfect destination to domestic tourists, researchers and also trekkers from abroad. The home stay facility initiated by the Great Himalaya Trail there could lead to an evolution of tourism activities through replication in surrounding villages and the development of tourist friendly attitude in local people. In remote villages similar to those of Humla, people can make tourism their main source of income and create markets for local products. But the development of tourism in villages would not be possible only through local initiative. It must be backed by state policies and projects for the promotion and development of tourism activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Sandesh Niroula, Biratnagar&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>Merger Movement&nbsp;</strong></p>
</div>
<div>
	After much talk about the merger of banks and financial institutions, it seems conversation has shifted to the insurance business. Insurance is also another sector where companies have not reached the majority of Nepal&#39;s population. First, the general public is less aware about the benefits of subscribing to life and non life insurance policies. Second, insurance companies too are failing to penetrate the market and create awareness. Moreover, insurance subscription is related to the level of disposable income as a certain amount of monthly income is allocated for insurance premiums. Likewise, in the Nepali market, non-life insurance is still infantile. Apart from large companies, it has hardly reached the consumer level.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In an immature market for insurance products, the regulator has come up with a directive to raise paid-up capital for the companies. Therefore, it would be better to go for a merger and create a synergy effect to work effectively in the market. It would help to create a stronger company with wider reach and larger customer base. But there is not harm if companies choose to increase their capital through other means.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Bimala Nakarmi, Dhobighat, Lalitpur&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong>A complete package&nbsp;</strong></p>
</div>
<div>
	I am a regular reader of the New Business Age. I am a finance student and have keen interest in banking and financial issues. The content provided by the magazine is a complete package that benefits enthusiasts like me. I would like to thank the New Business Age team for putting a huge effort on making the magazine an &ldquo;all-economic and all-financial package&rdquo;, where all curious minds have plenty of answers and guidance to their dilemmas. Good luck, and keep it up.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	- Amit Gnawali, Butwal, via website</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<em><span style="font-size: 11px;">Mail your feedback to P O Box 14197, Kathmandu or Email to editor@newbusinessage.com&nbsp;</span></em></p>
</div>
<div>
	<em><span style="font-size: 11px;">The mail will be edited for the purpose of clarity and brevity.</span></em></div>
<div>
	<hr />
</div>
<p>
	&nbsp;</p>',
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			'description' => 'Inclusive growth came into existence when the developmental models and theories of economic development could not address people from all walks of the society.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1675',
			'article_category_id' => '52',
			'title' => 'Bureaucratic Budget',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The most positive development of the ordinance budget for FY 2013/14, presented on 14th July by Finance Minister Shankar Koirala, is that it proposes the income and expenditure estimates for the entire fiscal year. The budgets for the last four fiscal years had come in the form of quarterly or half-yearly estimates due to incessant political squabbles among the political parties at play. The government employees enjoyed the pay rise of some 20 per cent and private sector seemed largely contended with some liberal approaches adopted by the budget speech. The criticisms of the &#39;too large a size&#39; and &#39;implementation nightmare&#39; were routine and expected.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But, the saddest part is that this budget in a bid to please everyone with some instant toffees, fails to address the most pressing economic problems faced by Nepal at present. The Nepali economy now faces three very worrisome problems. First, the GDP growth plummets to 3.6 percent, the lowest in the decade. Second, the export-import ratio is at whopping 1:10 and the recorded trade deficit is of the last fiscal year is estimated to be well above Rs 500 billion. If service imports like Nepali students studying abroad, holiday and healthcare trips Nepalis are making abroad are also added it would cross the Rs 600 billon mark. And, the third, the authorities have failed to tame the galloping inflation, that effectively stands between 14 to 16 per cent and the CPI-based one has never gone below 10 percent for several years now.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The deficit budget by more than 25 percent of proposed expenditure even fails to acknowledge the fact that the economy is in grave crisis. It is unable figure out where the growth propellants would come about. The first three priorities of the budget are hydropower development, agriculture and infrastructure development--in that order. But, beyond rhetoric, it fails to enlist true problems and bottlenecks in respective sectors. It says many things about hydropower but fails to make any commitment on what would happen to large joint venture projects like West Seti and Arun III that are pending for years largely for unspecified reasons. Any development of hydropower projects in commercial scale will no meaning unless Nepal and India enter into power trade agreement. Bilaterally beneficial transmission lines and above all a climate of mutuality in investment and power trade are crucial, which could only go ahead if Indian investment is not discouraged. This however doesn&#39;t mean Nepal should sacrifice her interest. For any hydropower project, it would take long to be able to contribute to GDP growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Even if agriculture is deemed to be a growth engine, it is time that the sector came out of platitudes like &#39;modernization, commercialization and marketization&#39; of agriculture. The strategies of government subsidies on seeds and fertilizers adopted for years have never worked for several reasons. The sector now faces new problems like acute shortage of farm labours and sustainable pricing mechanism and value addition of products. If Nepali products were to be promoted regressive customs and other duties should be revised accordingly. But this budget doesn&#39;t even touch upon these newer challenges.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Growth by infrastructure development is highly indirect proposition. The GDP can grow with only very massive investment, not of pork-barrel nature but only in the form output targeted creation of transportation and communication linkages. In view of these realities, it can be easily concluded that the budget doesn&#39;t make any sensible effort to fill the growth gap.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is surprising to see that out of eight, the reducing the trade deficit is listed as the seventh objective. In fact, it should have been the first and the programmes like hydropower development should have been part of export promotion strategy in the long- run. Similarly, inflation control has been an outcome of a perverse nature foreign trade than the domestic trade factors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To see recent, unconventional trends in economy, both in terms of problems and prospects, we needed a clear departure from traditional bureaucratic verbose in national budget. But, this particular budget has indulged more in this outdated practice. This is truly a year of opportunity missed.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The most positive development of the ordinance budget for FY 2013/14, presented on 14th July by Finance Minister Shankar Koirala, is that it proposes the income and expenditure estimates for the entire fiscal year.',
			'sortorder' => '1536',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1674',
			'article_category_id' => '39',
			'title' => 'NIC Asia: The Synergy Effect',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal Industrial and Commercial (NIC) Bank and Bank of Asia Nepal (BoAN), two commercial banks, for the first time in the Nepali banking history merged into NIC Asia Bank Limited. The bank started its operation from June 30. The union has made NIC Asia, one of the top five banks of the country in terms of capital size and branch network.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The newly merged bank has Rs 2.31 billion as paid-up capital. Before the merger, NIC and BoAN had Rs 1.31 billion and Rs 2 billion paid-up capitals, respectively. Prabin Basnet, Chief Finance Officer at NIC Asia Bank claimed that the bank now has a reserve surplus of Rs 5 billion, one of the highest in the Nepali banking sphere. The bank&rsquo;s deposit size of Rs 40 billion and credit of Rs 32 billion makes it the fifth largest commercial bank of the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the bank has a customer base of around 275,000, also one of the highest numbers of customers being served by a Nepali bank. Basnet revealed that the bank plans to double the number within a short time. Likewise, the number of branches to cater to this number of customers is 53, spread over various parts of the country. During the merger, 13 branches of both banks operating in close proximity were consolidated and a new corporate office was set up at the Trade Tower in Thapathali. Basnet said that 13 branches to make up the consolidation will be established in new places within a year, making the bank with a network of 66 branches. He further said that the bank will add 10 new branches within three years. He said that this network expansion would help increase the financial accessibility of people in rural areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Basnet said, &ldquo;Everybody (regulator, employees, customers and peer banks) had their eyes on us as two A-class financial institutions were merging for the first time in Nepal. So, it was challenging for us to make it successful and set an example.&rdquo; Within a few weeks of joint operations, Basnet felt that it was a successful endeavour.</div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Prabin Basnet ,Chief Finance Officer, NIC Asia Bank" src="/userfiles/images/Prabin%20Basnet.jpg" style="width: 175px; height: 208px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Prabin Basnet</strong></div>
				<div>
					<em>Chief Finance Officer</em></div>
				<div>
					<em>NIC Asia Bank</em></div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	<strong><span style="font-size: 14px;">Beating the Challenge&nbsp;</span></strong></div>
<div>
	One of the major challenges the bank had to address was streamlining the database of two banks that were operating in two different core banking systems. According to Basnet, NIC was functioning on Pumori software platform while BoAN was operating on Pinnacle software. &ldquo;It was a herculean task to streamline a huge amount of data of both banks into the Pinnacle platform while maintaining integrity. Similarly, re-training the team to make it comfortable with the new platform was another great task during the merger process,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Basnet, a year passed on while completing the technical tasks of merging. &ldquo;Both banks were functioning in different environments and working culture but were sound A-class commercial banks. Handling regular tasks along with special works of the merger was exciting, fun and challenging at the same time,&rdquo; he explained. Basnet said that the hard work of the entire team has paid back. He said that a joint merger integration steering committee was formed under which 16 task forces were created to work out problems and challenges. Similarly, more than 50 staff persons were involved in completing special tasks.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The due diligence process was completed through a competitive bidding. &ldquo;The request for proposal we prepared was the most comprehensive due diligence request for proposal. This has set a landmark for due diligence,&rdquo; he said adding that a yearlong homework has helped in meeting the target of merger &ndash; creating a synergy effect. He also said that the effects will be visible right from the first quarter of the new financial year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Marrying the HR&nbsp;</span></strong></div>
<div>
	Managing the human resource to keep everybody happy and create a win-win situation for employees of two merging companies is said to be one of the biggest challenges. According to Basnet, this task has been completed swiftly by NIC Asia.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The two banks had almost 650 employees and they were assured that nobody will have to lose their jobs. Rather, the merger brought about new career development avenues and opportunities. &ldquo;Since the signing of the memorandum of understanding between the two companies for merger, it was clear that employees will not be laid off and the remuneration package they were receiving will not be reduced,&rdquo; Basnet said, &ldquo;As the employees had expectations to work for a better and stronger company, they provided moral support during the entire process.&rdquo; Both the banks soon after the merger decision had started activities to develop bonding between employees with diverse skills working in different work environment and culture.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="NIC ASIA BANK" src="/userfiles/images/NICASIA1.jpg" style="width: 500px; height: 210px;" /></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Customers in Transition&nbsp;</span></strong></div>
<div>
	Customers too expected that they would be availed of better services from a new, bigger and better bank, said Basnet. &ldquo;Customers were confident and never questioned the security of their deposits during the transition. They have even encouraged us with a promise to increase the deposit,&rdquo; he added and also committed to provide even better products and services, higher than customer expectations, in the days to come.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Changes in account numbers, cheque books and other structural changes due to the merger was well communicated through media, websites, personalised letters, and customer care centres. Similarly, the interest rates on deposits and credits were streamlined few weeks before the merger took place.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 14px;">Rebranding&nbsp;</span></strong></div>
<div>
	Basnet said that rebranding and brand building is a challenging task as both banks had a legacy of their own that cannot be easily forgotten. &ldquo;Creating an image of strong and capable banking is challenging. We started the rebranding campaign after a long exercise,&rdquo; he said. The red colour used in the logo of the bank tries to communicate that NIC Asia is attempting to establish itself as an aggressive player in the banking sphere. Basnet said that the new logo also symbolises five principles of the Panchsheel, which are also the internal strategies of the bank.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As a new and rebranded company, NIC Asia plans to move ahead aggressively as a key player in the banking sector. Basnet said that the bank does not need to revamp its products as the range of products and services provided by both the banks were quite innovative ones. However, he hinted that the bank will focus on technology-based products and branchless banking services.</div>
<div>
	&nbsp;</div>',
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			'description' => 'NIC Asia Bank Limited created a milestone in the Nepali banking sphere through a successful merger of two commercial banks for the first time in Nepali banking history.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1673',
			'article_category_id' => '150',
			'title' => 'Business Briefs (19 - 25 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="LG’s Side-by-side Refrigerator" src="/userfiles/images/lg(2).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 95px; height: 100px;" />LG&rsquo;s Side-by-side Refrigerator</span></strong></div>
<div>
	LG has launched a new side-by-side refrigerator in the market. The refrigerator with net capacity of 506 litres and has features like wide hidden touch display, tempered control drawer and glass shelves and water and ice dispenser among others. The freezing compartment comes with express freezing technology and also has interior LED lights.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Micromax 4 " src="/userfiles/images/mx.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 90px; height: 120px;" />Micromax 4 Launched</span></strong></div>
<div>
	Micromax has launched its new smartphone Canvas 4, the latest upgraded version in the Canvas series in the market. Canvas 4 is powered by a 1.2 GHz Quad Core Cortex A7 processor and runs on Android Jelly Bean 4.2 OS. It comes with 1 GB of RAM, 16 GB internal and 32 GB expandable memory. It sports a high definition 5 MP front camera, 13 MP back professional camera, auto focus, 99 burst shots, 4-way panorama and LED flash. It supports video calling and has a 5 inch IPS LCD multi-touch screen.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Pepsi Awards" src="/userfiles/images/20.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 58px;" />Pepsi Awards Winner of 20-20 Campaign</span></strong></div>
<div>
	Pepsi has awarded two million rupees to the winner of its 20-20 promotion campaign. Pepsi gave Rs 7,200,000 to consumers as part of the campaign which ran from June 16 to August 6. According to a press release from the company, the campaign had close to 3, 00,000 participants through SMS and events. The campaign was launched with the slogan &lsquo;Ru Bees Ma Bees Lakh, Jitau Lakhau Lakh&rsquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Springwood’s Season SALE" src="/userfiles/images/springwood(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 41px;" />Springwood&rsquo;s Season SALE</span></strong></div>
<div>
	Springwood, men&rsquo;s garment brand marketed by Surya Nepal Pvt Ltd is offering &lsquo;end of season&rsquo; sale through various outlets throughout Kathmandu and outside as well. The sale offers discounts of 50, 35 and 25 per cent on Springwood&rsquo;s collection of shirts, t-shirts, trousers, jeans, sweaters and sweat shirts. The sale is valid form 15 August to 15 September 2013.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="IME" src="/userfiles/images/ime.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 56px;" />IME launches &lsquo;Dashain Ma SLC&rsquo; Campaign</span></strong></div>
<div>
	International Money Express (IME) has launched a consumer promotion campaign named &lsquo;Dashain Ma SLC with the onset of this year&rsquo;s festive season. During the two month long campaign starting from August 17, 2013, all IME customers coming to IME agent outlets to avail remittance services will get a chance to win various exciting prizes. During the campaign period, IME will give away 60 Samsung smart phones every day, 8 LED TVs every week and a Hyundai Eon as the bumper prize at the end of the campaign.</div>',
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			'created' => '2013-08-20',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1672',
			'article_category_id' => '149',
			'title' => 'Steady Manufacturers',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Suraksha Adhikari</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Rajesh Agrawal Director, RMC" src="/userfiles/images/ra.jpg" style="width: 200px; height: 211px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>&nbsp;Rajesh Agrawal</strong></div>
				<div>
					Director, RMC</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Established in 1993, Rajesh Metal Crafts Ltd (RMC) has been a familiar name in the steel and manufacturing business. Initially established as Rajesh Hardware Company, it only imported steel from Japan, Korea and other countries. But with the increase in manufacturing activities in the country, the partners of Rajesh Hardware Company decided to enter the metal business themselves and established RMC.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Named after the Company Director, the venture began as a family business which commenced with the concept of constructing paint packing steel drums with an initial investment of Rs 5 million. With a widening scope for metal business in Nepal over the years, RMC has been expanding business accordingly and is considered as one of the best manufacture service providers in Nepal today.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We had no experience in the manufacturing industry but were confident that the business will surely succeed in time and as per expectations, business expanded with the rising living standards of people,&rdquo; said Director of RMC, Rajesh Agrawal.</div>
<div>
	&nbsp;</div>
<div>
	Explaining the initial phase, Agrawal said, &ldquo;There was no concept of industrialisation during the initial years. Now the country is moving forward in this aspect. Though the Maoist problem had created hindrance mid-way, it has been improving now.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Initially focused on local traders only, RMC also began to export steel to India. Forty per cent of the annual turnover that the company registers today is earned through exports. RMC cement has also recently started exporting from Nepal and is the first company in Nepal to do so.</div>
<div>
	&nbsp;</div>
<div>
	The company has been providing quality products to its consumers including MS black pipe, GI Pipe, Galvanised Corrugated Sheets, GI Sheets, CR sheets and Colour Coated Sheets.</div>
<div>
	&nbsp;</div>
<div>
	Having 150 dealers all over the country, the company faced a couple of hurdles on the way to success. &ldquo;The Maoist problem and political instability are the biggest hindrances to the growth of the company,&rdquo; states Agrawal. Along with this, Agrawal believes that power outage has also created a lot of problems in the production of manufacturing materials.</div>
<div>
	&nbsp;</div>
<div>
	Focusing on positive aspects, Agrawal highlights the growth of consumerism in recent years. &ldquo;With the growth of various aspects of the economy, the affordability of consumers has been increasing. With this, consumerism in steel has also been increasing.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;In villages, people who had thatched roof houses are slowly transforming to steel sheets with a rise in their living standards,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	The per capita steel consumption of Nepal is 30kg per person which is one of the lowest in the world. &ldquo;A stable political condition in the country can boost the steel market,&rdquo; Agrawal added, speaking about the high scope of steel consumption here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	RMC has been a consistent brand for the last 15 years. &nbsp;Talking about market shares, Agwaral said that it is 50 per cent in black pipes, 25 percent in CR sheets and 20 percent in GI pipes. &ldquo;We have aimed to increase exports with value addition to products by forward and backward integration,&rdquo; he stated.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Having started with around 15 employees only, the company now has 480 employees hired. The RMC group also has investments in H&amp;B Development Bank and Prudential Insurance Company.</div>
<div>
	&nbsp;</div>
<div>
	Talking about support from the government Agrawal said, &ldquo;The government has provided tax free provisions for our exports.&rdquo; Full time electricity to all industries would be appreciated but the government is not in the condition to fulfill such requirements. We should take some steps ourselves to solve this problem, &ldquo;he added.</div>
<div>
	&nbsp;</div>
<div>
	Considering the Jagadamba Company in the Pipe industry and Hulas Steels and Arati Steels in GI Sheets as major competitors, the company is well on its own track to provide quality products to consumers with an annual turnover of Rs 5 billion, according to Agrawal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As a part of its promotional campaign and advertisement, the company has been disseminating information through Agrawal Television Commercials, Print advertisements, audio advertisement in FM and scratch coupon schemes for consumers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Fulfilling corporate social responsibility, we have installed water tanks in the villages of the employees of the company, and have been providing free medical treatment for the families of our workers,&rdquo; Agrawal said. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With plans to construct a clinker-based cement industry in Palpa, the company now aims to produce clinkers in Nepal itself &ndash; a product which was thus far only imported from India. &nbsp;</div>',
			'published' => true,
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			'description' => 'Established in 1993, Rajesh Metal Crafts Ltd (RMC) has been a familiar name in the steel and manufacturing business.',
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			'id' => '1671',
			'article_category_id' => '115',
			'title' => 'Tech Briefs (19 - 25 August 2013)',
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			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="fACEBOOK" src="/userfiles/images/FB.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 46px;" />Facebook Eyes Mobile Payment Feature</strong></span></div>
<div>
	Facebook, the world&rsquo;s largest social networking company, is planning to come up with a new mobile payment feature. It will use payment details added by users to their Facebook account to automatically fill in forms when they make purchases on mobile applications. Various companies have been looking to tap into mobile payments markets. However, Facebook said the feature would not involve moving the payment processing away from an app&rsquo;s current service provider.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Smartphones" src="/userfiles/images/SP.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 59px;" />Smartphones Out-sell Basic Handsets</span></strong></div>
<div>
	Smartphone sales exceeded feature phone sales for the first time in the April-to-June period, according to research firm Gartner. Worldwide mobile phone sales touched the figure of 435 million units. Smartphone sales alone accounted for 225 million units, up 46.5 per cent from the previous year. Feature phones end up with 210 million units, down 21 per cent. The highest smartphone growth rates recorded in Asia, Latin America and Eastern Europe, the firm said. However, a competing firm, IDC, said this milestone had already been reached in the first three months of 2013.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="NASA" src="/userfiles/images/NASA.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />NASA Sending World&rsquo;s First 3-D Printer into Space</span></strong></div>
<div>
	NASA is set to launch world&rsquo;s first zero-G-ready 3D printer into space next year, during its resupply mission to the International Space Station, so that parts can be built on-demand in space. Space manufacturing company Made in Space&rsquo;s customised 3D printer will be the first device to manufacture parts away from planet Earth, researchers said. The 3D printing in Zero-G Experiment will validate the capability of additive manufacturing in zero-gravity. &nbsp;&ldquo;Imagine an astronaut needing to make a life-or-death repair on the International Space Station,&rdquo; said Aaron Kemmer, CEO of Made in Space on the company&rsquo;s website. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Apple" src="/userfiles/images/APL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 53px;" />Icahn Buys Stake in &lsquo;Undervalued&rsquo; Apple</span></strong></div>
<div>
	Billionaire investor Carl Icahn says he has built up a &ldquo;large&rdquo; stake in Apple. Mr Icahn says Apple shares are &ldquo;extremely undervalued&rdquo; and wants Apple to carry out a bigger share buyback. In April, Apple said it would return $100bn (&pound;65bn) to shareholders by the end of 2015, by raising its dividend and buying back shares. Mr Icahn said he had a &ldquo;nice&rdquo; conversation with Apple&rsquo;s chief executive Tim Cook and plans to speak to him again shortly. In response, Apple said in a statement: &ldquo;We appreciate the interest and investment of all our shareholders. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Office 365 " src="/userfiles/images/365.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 59px;" />Microsoft Releases Office 365 for Android&nbsp;</span></strong></div>
<div>
	Microsoft has released a version of its office programme Office 365 designed to be used on smartphones with the Google operating system Android. The app was initially available only for US users through the Google Play Store but is being gradually activated in more countries. The app allows documents from Excel, Word and PowerPoint to be viewed on mobile devices, edited in limited fashion and shared in the cloud service SkyDrive. Those who subscribe to Office 365 can download the software for free.&nbsp;</div>
<div>
	&nbsp;</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Facebook, the world’s largest social networking company, is planning to come up with a new mobile payment feature.',
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	(int) 14 => array(
		'Article' => array(
			'id' => '1670',
			'article_category_id' => '159',
			'title' => '‘Family Comes First For Me’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt=" Umang Rana,General Manager , Webster Properties" src="/userfiles/images/ur.jpg" style="width: 200px; height: 220px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>&nbsp;Umang Rana</strong></div>
				<div>
					<em>GM,Webster Properties</em></div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	He starts his day early and amid hustle bustle of daily city life, he never forgets to teach his son about values and the importance of nature in life.</div>
<div>
	&nbsp;</div>
<div>
	Meet the General Manager of Webster Properties, Umang Rana for whom separating hectic professional and personal life is not a daunting task, which he is maintaining for several years.</div>
<div>
	&nbsp;</div>
<div>
	While interacting with The Corporate correspondent Suraksha Adhikari, he says, &ldquo;Family comes first for me and work will go on accordingly&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Defiant from other senior professionals who hardly get time to spend time with their family members due to officials wrangling, Rana customized his lifestyle maintaining every minute responsibility carefully in office as well as at home.</div>
<div>
	&nbsp;</div>
<div>
	A big time sports lover and his fascination towards driving cars and bikes give him a reason to live like king size.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;My son is growing up and he has so many queries in his mind. I listen and talk to him which has been my favourite pass time,&rdquo; he says.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He proved himself as a good manager of time and therefore he succeeded in maintaining a balance between his personal and professional life. For him a person can do good business only after his or her family is adequately taken care of.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;I never bring office at home and even avoid taking calls unless it is very urgent. I prefer to spend quality time with my family because they give me strength to work hard next day,&rdquo; Rana said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He says, &ldquo;I love spending some quality time with my son and wife and try to make frequent dining with them to break the monotony. It makes us happy and developed a sense of responsibility and bonding in each other&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Interestingly, on vacation he is very particular about the places and always tries to visit those places and countries which will educate them especially his son about the place and its historic value.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We plan as per our son interest and we try to visits those places which are serene and calm. I prefer to be with the nature, but as my son is small and I prefer those places which will give some education to him,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	A nature lover has a long list of his favorite holiday destination starting from Hawaii, Latin America to Eastern Europe. He recently visited to Dubai in June with his family and could resist to share his experience during his stay.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	An avid sport lover, Rana rates himself as master of all and jack of none in sports. &ldquo;Still football and cricket is on my top list,&rdquo; he admitted.</div>
<div>
	&nbsp;</div>
<div>
	He prefers not to engross too much on social networking and spend some time in watching and even for a long drive with his family for a rendezvous with nature.</div>',
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			'description' => 'He starts his day early and amid hustle bustle of daily city life, he never forgets to teach his son about values and the importance of nature in life.',
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