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		'Article' => array(
			'id' => '1639',
			'article_category_id' => '137',
			'title' => 'Gold Demand From India, China Could Hit Record 1,000 Tonnes Each In 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India&rsquo;s gold demand could reach a record 1,000 tonnes this year as consumers buy for the festival and wedding season in the second half, the World Gold Council said, which may scuttle the country&rsquo;s efforts to curb its imports and a trade deficit. Demand from China, which is on course to challenge India&rsquo;s position as the top gold consumer this year, could also soar to a record 1,000 tonnes in 2013, the WGC said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Strong physical buying from the world&rsquo;s biggest consumers, who account for nearly 60 per cent of global demand, will help prop up prices of the metal that have shed about 20 per cent this year after 12 consecutive annual gains. Consumer demand has however not been enough so far to compensate for a sharp drop in investor appetite this year, the WGC said in its quarterly report on Thursday. &nbsp;India, which wants to keep imports below 850 tonnes in 2013, has raised import taxes three times in eight months. On Wednesday, it banned overseas purchases of gold bars and coins to rein in dollar spending.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But the resilience in Indian demand has offset government efforts to curb imports, which revived in July after dropping in June. According to WGC, India&rsquo;s consumption of gold rose to 310 tonnes in the second quarter ended June, highest in the last 10 years, despite government curbs to restrict imports to rein in burgeoning current account deficit. Much of the demand was met by stocks that had been built up to healthy levels following the April price drop. Imports more than doubled to 338 tonnes in April-June of this calendar year, it said. Gold consumption stood at 181.1 tonnes in the same quarter last year.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We&rsquo;ve seen that demand is robust,&rdquo; Somasundaram PR, WGC&rsquo;s India managing director, told Reuters. &ldquo;Once the monsoon is over, rural incomes will rise and that will have its own impact on demand.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There are also a lot more marriage and festival dates in October and November in the fourth quarter,&rdquo; said Somasundaram, who estimated full-year demand between 900 tonnes to 1,000 tonnes for both India and China. Hitting the upper end of that range would be record annual consumption for both the countries, he said. The rural population accounts for about 60 per cent of gold demand in India, where the precious metal forms an essential part of a bride&rsquo;s dowry and is considered auspicious as a gift or offering at religious festivals. India&rsquo;s demand reached 566 tonnes in the first half of the year, a 50 per cent jump but still lower than China&rsquo;s 600 tonnes, the industry-funded WGC said in its report.</div>
<div>
	&nbsp;</div>
<div>
	Demand this year has been particularly strong as falling prices have prompted consumers across the world to buy bullion in the form of jewellery, bars and coins. Analysts say India&rsquo;s moves to curb imports have been unable to stifle demand, thus pushing local prices to around $50 an ounce above London spot prices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Record Buying in China&nbsp;</strong></div>
<div>
	China&rsquo;s gold-buying spree in the first six months of the year is likely to continue into the second half amid festivals and uncertainty about the economy, which has seen a slowdown in nine out of the past 10 quarters.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The falling gold price is key. But there are also other macroeconomic conditions that are pushing (the Chinese) to gold,&rdquo; said Albert Cheng, WGC&rsquo;s managing director for the Far East region. (Agencies)</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<h2>
		<strong>Appetite for Gold in Nepal Rising</strong></h2>
</div>
<div>
	The consumption of yellow metal among Nepali consumers has been following an increasing trend. According to Ministry of Finance (MoF), gold import in Nepal reached 5,807 kg which is worth Rs 26 billion in the fiscal year 2012-13.</div>
<div>
	&nbsp;</div>
<div>
	However, the import of gold was slightly down in the last FY compared to the whopping 5,900 kg in the FY 2011-12. &nbsp;Traders blame the quota system imposed by the government for the decline in the last fiscal year though their overall gold consumption outlook remains bullish. &ldquo;Our initial estimation shows that about 26 tonnes of gold will be consumed by the end of current FY in the domestic market,&rdquo; said Manik Ratna Shakya, general secretary of Nepal Gold and Silver Dealers Association (NEGOSIDA).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya informed that the average daily gold demand in the domestic market stands at 30 kg on average. &ldquo;The average daily demand in the marriage season stands around 35 kg. We&rsquo;ve witnessed the seasonal demand of gold up to 50 kg in the past,&rdquo; he mentioned. Shakya blamed the restrictions imposed on gold imports for the low quantity trade. &ldquo;The quota system has actually promoted illegal trade and it has some immediate impacts,&rdquo; he told The Corporate weekly, &ldquo;The government&rsquo;s revenue from gold import will decline and the remittance inflow will also suffer as migrant workers may buy gold abroad and send it here using informal channels due to the restrictions.&rdquo;</div>',
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			'description' => 'India’s gold demand could reach a record 1,000 tonnes this year as consumers buy for the festival and wedding season',
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	(int) 1 => array(
		'Article' => array(
			'id' => '1638',
			'article_category_id' => '134',
			'title' => 'Necessities Of Commercial Bench',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong style="font-size: 14px;"><img alt="Shreekant Poudel,the spokesperson of the Supreme Court." src="/userfiles/images/BK.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 175px; height: 224px;" />Shreekant Poudel</strong><span style="font-size: 14px;"> Is the spokesperson of the Supreme Court. In an interview with </span><strong style="font-size: 14px;">Britant Khanal</strong><span style="font-size: 14px;"> of The Corporate weekly he shed light on the introduction of commercial bench and its need.</span><strong style="font-size: 14px;"> Excerpts:</strong></div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you highlight the reason behind establishing the commercial bench?</strong></div>
<div>
	The first and foremost reason behind the establishment of this bench is the need for speedy justice, easy access and quick legal remedies for the commercial sector. Even more important is the demand made by the law in many acts after the second Jana Andolan. It is clearly mentioned that such and such cases will be dealt by the commercial bench like for instance in Section Z8 of the Company Act. After 2006, the World Bank had also suggested the requirement of such a bench. The Company Act, the Secured Transaction Act and other acts related to safe competition have mentioned the requirement of this bench. Was this issue initiated by ADB? I don&rsquo;t think so but the ADB had some general interest and it had recommended on bringing such a bench too.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What new prospects will the bench bring? Will it have the same old practices disguised as new?</strong></div>
<div>
	In the process of establishing this bench we had to and we still are training judges, judicial staffs and even lawyers. The training lasts from one to one-and-a-half months as per requirement. The judges who attend the training are only sent to the bench for hearing commercial cases. The new commercial bench will therefore slowly shed some old ways.</div>
<div>
	&nbsp;</div>
<div>
	<strong>There seems to be a paradox in the bench being established for the benefit of the commercial sector while the jurisdiction seems a bit scattered, vague and ambiguous. Could you talk a little about this? &nbsp; &nbsp;</strong></div>
<div>
	We are still in the starting phase of establishing the bench. As per my knowledge, the initial requirement was that of a separate commercial court which came down to establishing a commercial bench in appellate courts. This was required because cases related to the commercial sector are heard in a scattered manner. For example, cases of contract are first heard by the district court, that of patents are heard by the department of industry, and many cases are addressed by the Nepal Rastriya Bank (NRB) too. Therefore, a common institution to streamline all commercial cases and bring them under one umbrella seemed to be necessary.</div>
<div>
	&nbsp;</div>
<div>
	Home work is yet to be completed. It was rightly questioned whether or not offences in banking will be dealt by the commercial bench. The issue is still subject to research and analysis. There are other issues also like that of intellectual property and cases of revenue tribunal. So there is a lot to be done and we are striving to bring all of these cases under the commercial bench.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Has the bench been established in all appellate courts in the country?</strong></div>
<div>
	No, we have not established commercial benches in all appellate courts as they are established in a need-based manner. The previous chief justice had recommended the bench to be established in six places including Pokhara but later it was only established in four places. We therefore have established this bench in five places, Hetauda being the youngest which was established two years back and the other four are Biratnagar, Hetauda, Butwal, Nepalgunj and Patan.</div>
<div>
	<img alt="Cases Regarding Commercial Bench" src="/userfiles/images/cbnch.jpg" style="width: 500px; height: 235px;" /></div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#FFFFFF">
					<div>
						&nbsp;</div>
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Gandhi Pandit Advocate" src="/userfiles/images/GP.jpg" style="width: 200px; height: 250px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Gandhi Pandit</strong></div>
									<div>
										Advocate</div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						<h1 style="text-align: center;">
							&lsquo;We are still at the initial stage&rsquo;</h1>
						<div>
							<strong>What is your take on the commercial bench?</strong></div>
						<div>
							The judges must be competent to look at all kinds of cases, but frankly, that is not possible all the time because of growing trade issues in the domestic and global markets and because some of the cases are so sophisticated that they require specialised knowledge and high expertise is not available in the country. Smooth functioning of the economy will require a better legal system which will support rapid growth and development. Therefore, the present context demands a commercial bench to go in hand in hand with the pace of development in order to be able to forge a conducive environment for global as well as domestic investors.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Where can we trace the footprints of this system?</strong></div>
						<div>
							This system can be traced to the continental legal system, commonly understood as the French and German legal system. In these systems, we can see the trends of a commercial tribunal, a labour tribunal, an industrial tribunal, among others. In these kinds of tribunals the specialised skills of various sectors are brought for the better understanding of the case. And this system was later followed by Britain and the United States of America. Therefore, this pragmatic approach has led to speedy justice and quick legal remedies in these nations. But in our context, we are still lagging behind. Our judges are still traditional and are only specialised in traditional issues such as cases of land dispute, writ petition, etc. whereas we don&rsquo;t have expertise on cases like letter of credit, IT law, intellectual property law, cases of trademark and so on.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>What could be the possible remedy to such lacunae and paralysis?</strong></div>
						<div>
							Establishing the bench is one thing and effectiveness is another. As judges are frequently transferred to places without access to such knowledge, they will require training, and attending the training once will not make an impact as there has to be periodic training which we are lacking. Therefore the national judicial academy has been training judges but in the same traditional cases only. Not enough training has been provided in the field of modern commercial issues. Another major problem is procedural delay. These kinds of hurdles will further delay justice and so they will have to be reduced to a minimum. Such deficiencies in the system will give a very wrong message to foreign investors.</div>
					</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<p>
	&nbsp;</p>',
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			'description' => 'The first and foremost reason behind the establishment of this bench is the need for speedy justice, easy access and quick legal remedies for the commercial sector.',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1637',
			'article_category_id' => '122',
			'title' => 'A Leading Chain Of Hotels In Nepal Grows Bigger',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Rajan Sakya CEO, KGH Group" src="/userfiles/images/rajan(2).jpg" style="width: 175px; height: 192px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Rajan Sakya</strong></div>
				<div>
					CEO, KGH Group</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	The KGH Group has recently revamped rooms and interiors of its signature hotels, Park Village Hotel and Resorts and Kathmandu Guest House. According to Rajan Sakya, CEO of KGH Group, 60 rooms of five-star facility were added on each hotel in the year 2012. Sakya says that rooms were upgraded in accordance with the demand of clients and growing competition to offer quality service.</div>
<div>
	&nbsp;</div>
<div>
	Renovation work is also ongoing at Aqua Buzz Unlimited, a hotel located in Koshi. Sakya admits that the hotel is not doing impressive business at the moment but he is optimistic that Koshi will emerge as a tourism hub when the Banepa-Bardibas highway gets completed in the next two years. He says that the highway will shorten the distance between Koshi and Kathmandu and will increase tourist flow to the area.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Expansion Plans</span></strong></div>
<div>
	The KGH Group plans to add new properties to business in the years to come to their current line-up of eight hotels and three travel agencies. According to Sakya, the group is planning to establish two new hotels within the next two years. He says one will be in Kathmandu while the other will be in Koshi.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Karna Sakya, Founding President of the group wishes to see the business he established to be passed on to the future generation. Rajan Sakya, his youngest son also expresses commitment to continue the business and says, &ldquo;Tourism is the industry where we have expertise and long-time experience. The next generation will also be involved in the same field as we do not have any plans to venture into any other sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	When making plans for the future, young Sakya says that the overall business climate of Nepal makes it difficult to make long-term plans. So, he says the group has been only making plans for the short term.</div>
<div>
	&nbsp;</div>
<div>
	Sakya reveals that the group plans to streamline and standardise the quality of its services offered throughout the properties of the group as well as its management style. For this purpose, he says, the group is adopting a corporate model of running business that will centrally control all sister concerns it owns.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Clientele and Occupancy</span></strong></div>
<div>
	The morale of tourism entrepreneurs is getting a boost with the rise in tourist flow after the insurgency. Sakya is also content with the number of clients his chain of hotels has been able to attract. He says that the occupancy level has been satisfactory throughout the year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Sakya, Park Village Resort is primarily targeting conferences and seminars, and so 60 per cent of its clients are Nepalis while the rest are foreigners. Similarly, guests at the Kathmandu Guest House are mostly adventure tourists and it is an all-season hotel with 100 per cent foreign clients. Likewise, 80 per cent of clients at the group&rsquo;s hotels in Pokhara, Chitwan and Lumbini comprise of foreigners.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Management strategy</span></strong></div>
<div>
	The KGH Group has been operating under the family business model since Karna Sakya ventured into the tourism and hospitality sector almost 48 years ago. &ldquo;We are not running our business similar to a professionally managed five star hotel. &nbsp;Though we have professional hotel managers to look after a particular hotel, we have shouldered the responsibility of running the business and we are happy with this style because we believe we have the expertise and experience of several decades,&rdquo; explains Rajan Sakya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Sakyas, however, are planning to corporatise the group in the next one to two years. The group plans to set up a corporate head office in Kathmandu with a team headed by a General Manager. Sakya says that the corporate office will centrally control the accounts, internal audits and central purchasing. &ldquo;This model is being adopted to standardise the quality of services and products used across all the properties under the group,&rdquo; he says.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Human Resource Management</span></strong></div>
<div>
	The KGH Group has not only created employment for 650 to 700 people but also has been meeting a social responsibility in hiring employees. Sakya says that the group hires women under the shelter of Maiti Nepal, a non profit organisation dedicated to help victims of sex trafficking. As women from the organisation find it challenging to reintegrate into society after being rescued from brothels, the KGH group has tied up with Anuradha Koirala (Founder and Director of Maiti Nepal and also a winner of CNN Heroes of 2010) to provide them with job opportunities in all of its properties, says Sakya.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the group prioritises hiring employees from underprivileged groups and communities. Sakya says that the group gives preference to those who have returned after working abroad. He gives an example of a recent recruitment of 10 employees who had returned from the US and the UK. He also reveals that the employee turnover at the group is quite low and some of the employees have been with the company for even decades. &ldquo;We have maintained a very good relationship with employees and so, we do not have problems with the human resource management,&rdquo; he states about the company&rsquo;s relationship with its employees.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="KGH GROUP NEPAL" src="/userfiles/images/2a.jpg" style="width: 500px; height: 169px; margin-left: 25px; margin-right: 25px;" /></div>
<div>
	<hr />
	<div>
		<strong style="font-size: 14px;">The KGH journey</strong></div>
</div>
<div>
	The journey of the KGH Group began when Karna Sakya, Founding President of the group established Kathmandu Guest House in Thamel, 48 years ago. Sakya recalls that Thamel was nothing more than a paddy field then. Thamel, the tourist hub of today grew around the hotel which started with 13 rooms.</div>
<div>
	&nbsp;</div>
<div>
	Sakya, a government employee then, used to work at the department of forestry and was not satisfied with the working environment. &nbsp;Brought up in an affluent family, he never felt that he had to take up a job to make his living. A traveller himself, he says that one must be able to comprehend what tourists want in order to run a tourism business and adds: &ldquo;Tourism is a business of dreams and only a dreamer can delve deep into this sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	His expertise as a forester and environmentalist is reflected in the hotels of the group. He has always prioritised the harmony between buildings, nature and the culture of the locality where the hotel is built and it can be witnessed in any of the sister hotels of the group. Sakya says he never developed a property on a leased or government land and all land where hotels are built is owned by the group.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	When the country was at the peak of insurgency, the group never took a break. Rather it expanded into new projects and purchased land that helped it achieve success that it had never seen earlier.</div>
<div>
	&nbsp;</div>
<div>
	Today, the group has eight hotels and three travel agencies and is about to mark its golden jubilee in two years&rsquo; time</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#FFFFFF">
				<h2>
					Signature Hotels of the KGH Group</h2>
				<div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Park Village Hotel and Resort</span></strong></div>
					<div>
						<img alt="Park Village Hotel and Resort" src="/userfiles/images/park%20villafge.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 131px;" />This hotel spreads over 55 ropanis of land and is nestled in the foothills of Shivapuri National Park. Located just seven kilometres away from the heart of Kathmandu city, the hotel is so close to nature that it is regarded as a hotspot for bird watching, gorgeous scenery and harbours over 78 species of 3000 flowering plants. The hotel primarily targets conference clients and has seven conference halls and parking space for 80 vehicles. Similarly, it has 135 rooms, suites and service apartments of five star categories, swimming pool and spa among other luxurious amenities.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Kathmandu Guest House</span></strong></div>
					<div>
						<img alt="Kathmandu Guest House" src="/userfiles/images/kgh.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 132px;" />Kathmandu Guest House is the second largest hotel of the group that also preserves the architectural grandeur of a Rana palace intact along with ultra modern facilities. The hotel named one of the 300 most popular icon hotels in Asia by the Inside Guide in 2003 is famous among adventure tourists, writers, musicians and artists travelling Nepal. The hotel located at the heart of city, Thamel, has 150 rooms that cost from USD 30 to USD160 per night. Recently, the hotel has upgraded its rooms and interiors keeping the elegance and history of its architecture alive.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Waterfront Resort</span></strong></div>
					<div>
						The resort located on the banks of Fewa Lake in the popular tourist destination, Pokhara, is spread over 15 ropanis of land. The company claims that it is one of the best eco friendly hotels in Pokhara. The resort even has a rain harvesting system and waste water is recycled to be used in its gardens, according to the company. One of the newest ventures of the KGH Group, the resort offers unparalleled views of the lake and mountains. The resort with 60 rooms also offers a peaceful and homely environment.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Buddha Maya Garden Hotel</span></strong></div>
					<div>
						<img alt="Buddha Maya Garden Hotel" src="/userfiles/images/bmg.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 130px;" />The hotel is located just five minutes from the birth spot of Lord Buddha in Lumbini. The hotel spreads over nine bighas of land and has its garden full of indigenous Buddha era trees. Founder of the group, Karna Sakya&rsquo;s expertise in forestry and environment has inspired the landscape of the hotel in marrying art, culture and nature. It is one of the largest hotels in Lumbini with three and four star quality rooms.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Maruni Sanctuary Lodge</span></strong></div>
					<div>
						<img alt="Maruni Sanctuary Lodge" src="/userfiles/images/msl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 131px;" />Established in 2004 with 11 cottages, the hotel has now expanded into 37 huts. The hotel nestled on the edge of Chitwan National Park and just 10 minutes walk from Sauraha. All rooms are decorated in a unique traditional architecture with bamboo furniture, terra-cotta flooring and colourful ethnic Tharu paintings. The hotel also has its own wetland that attracts migratory birds, making it ideal for bird watching.</div>
					<div>
						&nbsp;</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-19',
			'modified' => '2013-09-19',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The KGH Group has recently revamped rooms and interiors of its signature hotels, Park Village Hotel and Resorts and Kathmandu Guest House.',
			'sortorder' => '1498',
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	),
	(int) 3 => array(
		'Article' => array(
			'id' => '1636',
			'article_category_id' => '160',
			'title' => 'Corptoon Issue 27',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-08-18',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Corptoon',
			'sortorder' => '1497',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 4 => array(
		'Article' => array(
			'id' => '1635',
			'article_category_id' => '91',
			'title' => 'Middle Bhotekoshi To Start In December',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The construction of the 102 MW Middle Bhotekoshi hydropower project in Sindhupalchowk district is all set to start in December. According to the Chief Manager of the project, Prakash Awasti, the process for selection of international consultant for the project is in the last phase. &ldquo;Within two months the evaluation of the tender will be done and construction will begin,&rdquo; he said. Awasthi informed that the project will be constructed under the engineering, procurement and construction (EPC) model. Middle Bhotekoshi is considered to be one of the major hydel projects of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Starting from 2013 the project is targeted for completion by 2016. &ldquo;There will be no problems from the local people for construction,&rdquo; informed Awasti. Madhya Bhotekoshi Jalbhidyut Company Ltd have already paid Rs 33.2 million to locals for land acquisition. The project has completed construction of the 250 meter long adit tunnel. Constructed under the Q-40 model, the project is expected to cost around Rs 14 billion. It is expected to generate 542.3 million units of electricity annually. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Financial management is already completed for the project. Out of the total amount of shares invested, 51 per cent will be from founding members and 49 per cent from public shares. The company has signed a Power Purchased Agreement (PPA) with the Nepal Electricity Authority (NEA) and has submitted its environment impact assessment (EIA) to the government. &ldquo;We already presented the paper to issue the power generation license,&rdquo; said Awasti. The project is also planning connect the generated electricity with the national transmission line by bringing it to a substation line in Barhabise.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-18',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The construction of the 102 MW Middle Bhotekoshi hydropower project in Sindhupalchowk district is all set to start in December.',
			'sortorder' => '1496',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1634',
			'article_category_id' => '91',
			'title' => 'Microfinance Stretching Arms In Financial Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma &amp; Yagya Banjade</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali Microfinance Institutions (MFIs) have been witnessing a sharp inflow of investment in recent months. Since the inception of Nirdhan Utthan Development Bank as the first MFI in the Nepali stock market in 2011, shares of such companies have been following a bullish trend. The continuous rise in the share price of MFIs listed in Nepal Stock Exchange (NEPSE) is seen to be the main causative factor.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The attraction of MFIs among investors is being caused due to various reasons. Experts share mixed viewpoints on this. According to some analysts, the below Rs 500 per share price level of a majority of listed microfinance banks is a main driving factor. Others point out to the loose policy announced by Nepal Rastra Bank (NRB) regarding MFIs in the monetary policy for the current fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Investing in MFIs is considered secure. Microcredit banks can commence their business with small amounts of capital and have less liability compared to larger financial institutions,&rsquo; said Dharmaraj Pandey, CEO of Paschimanchal Gramin Bikas Bank. &ldquo;Due to this, investment in MFIs carries less risk, giving good returns.&rdquo; Similarly, the fast-paced growth of the microcredit market and increasing investment of microfinance banks is also fuelling investor&rsquo;s attraction, according to Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Anjanraj Poudyal, former Chairman of Stock Brokers Association of Nepal (SEBAN) also agreed with Pandey. &ldquo;The number of MFIs listing in the stock exchange having competent promoters has significantly gone up in recent years which have helped attract more investment in this sector,&rdquo; Poudyal said. According to Poudyal, investment is coming from individuals as well as institutions. &ldquo;Some mutual funds are giving high priority to the shares of microfinance banks in their portfolio,&rdquo; he mentioned.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Investors are looking optimistic about their investments in MFIs. &ldquo;The directive given by NRB to banks and financial institutions for loan expansion to the impoverished people is ascending the demand of MFIs shares in the market, however the equilibrium of such demand and supply is not well balanced,&rdquo; mentioned an investor in the condition of anonymity. &ldquo;The earning per share (EPS) of many microfinance banks is better than some commercial banks,&rdquo; he added. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to official data, 31 microfinance banks, 15 microcredit co-operative and 31 microcredit non-government organisations (NGOs) are actively providing services throughout the country. In regard to this, the number of MFIs in stock exchange is gradually rising. The total number of shares of 11 microfinance banks listed in NEPSE reached 273.638 million towards the end of Shrawan. Out of the listed 11 banks, share transactions of three companies have been held back due to various reasons.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">&lsquo;Different category for MFIs in NEPSE needed&rsquo;</span></strong></div>
<div>
	Microfinance banks are placed in the development bank section of the NEPSE index. However, with the rising number, voices are being raised to separate microfinance banks from development banks in the share index. &ldquo;As the listing is constantly rising, separate group is needed for effective management of microcredit banks in the share index,&rdquo; SEBAN&rsquo;s former chairman Poudyal said.&nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-18',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Microfinance Institutions (MFIs) have been witnessing a sharp inflow of investment in recent months.',
			'sortorder' => '1495',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1633',
			'article_category_id' => '91',
			'title' => 'FDI: More Promise, Less Work',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	The Nepal government&rsquo;s policy to allow foreign direct investment to improve Nepal&rsquo;s economic prospects has Lured foreign investors to come to Nepal to register joint ventures in various sectors, mainly the tourism and service sectors. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, they are yet to release funds to kick-start their projects. Economists and industrialists attribute the government&rsquo;s apathy and labour unrest behind foreign investors&rsquo; reluctance to start their ventures.</div>
<div>
	&nbsp;</div>
<div>
	The number of companies with joint ventures has increased. However, unlike what was anticipated, their investment has not contributed much to boost Nepal&rsquo;s economy.</div>
<div>
	&nbsp;</div>
<div>
	According to data from the Department of Industries (DoI), 300 joint ventures were registered with DoI by the end of FY 2012-13.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The total cost of these 300 projects amounts to Rs 32214.18 million, of which foreign investment has summed up to Rs 19398.14 million.</div>
<div>
	&nbsp;</div>
<div>
	Data shows that investors are most attracted towards the tourism sector followed by the service sector. Among those registered, 87 have been registered for the tourism sector, and 85 for the service sector. Foreign investors have a share of Rs 4525.03 million only in a total investment worth Rs 12417.2 million on 77 manufacturing industries registered at the DoI.</div>
<div>
	&nbsp;</div>
<div>
	Agriculture, Energy, Mineral and Construction are four other sectors among seven that have drawn foreign investment to Nepal in joint ventures. These sectors have promised Rs 852.01 million, Rs 2134 million, Rs 584 million and Rs 100 million, respectively, from foreign investors.</div>
<div>
	&nbsp;</div>
<div>
	The 300 ventures registered at the DoI estimate to create 14, 895 job opportunities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Among these registered projects, Chinese investors own the highest number of ventures among investors from 42 other countries to invest in Nepal. Their total investment amounts Rs 2627.40 million.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, in terms of volume, investors from the British Virgin Islands have the biggest figure of Rs 4497.40 million. This is followed by investment from Hongkong worth Rs 3070 million.</div>
<div>
	&nbsp;</div>
<div>
	However, all of these investors have not started their respective ventures. Dinesh Shrestha, Chairperson of the Industrial Department at Federation of Nepal Chambers of Commerce and Industry (FNCCI), blames the government for not forming a favourable policy towards prompting foreign investors to kick-start their ventures immediately. &ldquo;They are in a wait-and-watch-mood,&rdquo; he says, adding that the government should take a lead in inviting them to begin work.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;A favourable policy would mean drafting laws and formulating policies like the Foreign Direct Investment Act and the Special Economic Zone Act, among others,&rdquo; he explains.</div>
<div>
	&nbsp;</div>
<div>
	Asked why foreign investors are not much attracted to the manufacturing sectors, Shrestha argues that the pitiable conditions of manufacturing industries in Nepal might have signaled to them that investment in this sector will not have promising returns.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Our own national factories are on the verge of collapse; how can we expect foreigners come immediately and invest in sectors that have high risk?&rdquo; he questions. Shrestha, however, claims that foreign investors will start working as soon as the business environment will be in their favour.</div>
<div>
	&nbsp;</div>
<div>
	Prithvi Raj Ligal, former Vice-chairperson of the National Planning Commission, agrees with Shrestha. &ldquo;Labour unions, lack of foresight in the government, lack of consistent policies and the power crisis are also equally responsible for discouraging foreign investors to come and start their ventures immediately.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Foreign Investment Project in nepal" src="/userfiles/images/FDI1.jpg" style="width: 500px; height: 222px; margin-left: 25px; margin-right: 25px;" /></div>',
			'published' => true,
			'created' => '2013-08-18',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Nepal government’s policy to allow foreign direct investment to improve Nepal’s economic prospects has Lured foreign investors to come to Nepal to register joint ventures in various sectors, mainly the tourism and service sectors.',
			'sortorder' => '1494',
			'image' => null,
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	(int) 7 => array(
		'Article' => array(
			'id' => '1632',
			'article_category_id' => '48',
			'title' => 'New Budget's Growth Tricks',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Growth is what Nepal needs today. The recent budget for this fiscal year has aptly embodied this national aspiration. The very size of the budget has ballooned-up by almost forty percent compared to last year. Accordingly, the deficit gap, revenue targets, inflation estimates, government employees&#39; pay and many more have grown substantially. if you point to a few aspects like GDP growth projections and proposed capital expenditure, you must be an anti-democrat for sure. When majority of things are so rapidly growing, one should not bother about a few things that are in such declining trend.<br />
	<br />
	Besides, this budget has all ingredients to fuel growth. No sooner the budget declared that the government employees&#39; pay would be hiked by 18 percent plus straight one thousand bucks, the market has reenergized instantly.From vegetable venders to taxi drivers, grocers to airline operators, everybody has concrete plans to increase the prices, even before the salary-earners pocket their first added pay. The magic of this budget is: twenty percent increase in pay has the power to increase the price by at least forty percent.</p>
<p>
	As an axiom, the rise in prices is indeed the sign of growth and development. Look at the most expensive cities in the world, Tokyo, London, Moscow, Shanghai or Mumbai. They are developed because they are most expensive. Now Kathmandu can be a new candidate in that category, thus a developed city.<br />
	<br />
	We have some extra qualities to ensure growth and development, by using unique model of &#39;growth by price rise&#39;. No mechanism exists to control price and goods and service providers of all kinds have a free hand to fix their price and enforce cartels. Taxi drivers often bring the city to stand-still within hours if any regulators questions about their tampered fare meter and private water suppliers can stop the supply if authorities try to question about the potability of it. The only party that has to backdown invariably is the government. There are thousands of such examples which ensure prices in our country would only rise, and rise regardless of anything. This means, in other words, our growth and development is guaranteed.<br />
	<br />
	Just the talk of elections would provide an additional impetus to growth. Political parties will actively engage themselves in &#39;donation&#39; collection, while the businessmen and industrialists &#39;voluntarily&#39; set aside a big sum for the cause. That means they need to earn more by every possible means of black-marketing to hoarding. This the time the country sees a true business-friendly climate, when no business person is penalized or admonished for making arrangements of extra earnings.<br />
	<br />
	Elections have all other economic advantages. Donors come with offers of assistance in many forms -- cash, kinds, experts, observers, clergies and copies of bibles. Business activities in all sectors multiply, transports,hotels, goons, contract killers and armed robbers -- virtually everybody and everything will be hired by politicians and political parties to win the elections. Unemployment problem will be solved at once. That is the reason Nepal has taken up the technique of very often announcing the dates for elections but never actually holding them. From this experience, we can foretell that the proposed November elections will also be postponed for next April, so that Nepali economy can get double boost from the same elections fever.<br />
	<br />
	In any case, if we were to develop and grow, we must stop thinking about aspects of decrease, decline or fall..Those In any case, if we were to develop and grow, we must stop thinking about aspects of decrease, decline or fall. Those who don&#39;t believe in incremental thinking, they must be socially boycotted. Therefore, along with the salary of the government employees, the rate of grease money must be increased. Business people, transport operators and contractors must increase their costs. Government must increase the taxes; business community then increases the tax evasion. No matter whatever is increased, it is growth. That is the reason our finance minister is so sure, his budget will only develop the country. You just don&#39;t worry, which direction it grows, however.<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-18',
			'modified' => '0000-00-00',
			'keywords' => 'new business age no laughing matter news & articles, no laughing matter news & articles from new business age nepal, no laughing matter headlines from nepal,  current and latest no laughing matter news from nepal, economic news from nepal, nepali no laughing matter economic news and events,  ongoing',
			'description' => 'Growth is what Nepal needs today. The recent budget for this fiscal year has aptly embodied this national aspiration. The very size of the budget has ballooned-up by almost forty percent compared to last year. Accordingly, the deficit gap, revenue targets, inflation estimates, government employees' pay and many more have grown substantially. if you point to a few aspects like GDP growth projections and proposed capital expenditure, you must be an anti-democrat for sure.',
			'sortorder' => '1493',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1631',
			'article_category_id' => '146',
			'title' => 'Visual Edit Issue 26',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-08-13',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Visual Edit',
			'sortorder' => '1492',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '1630',
			'article_category_id' => '108',
			'title' => 'Money Matters News In Brief (12 - 18 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;">S<img alt="Sanima Bank Ltd" src="/userfiles/images/SANIMA.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />anima at Ghorai &amp; Dhangadhi&nbsp;</span></strong></div>
<div>
	Sanima Bank Ltd (Sanima) has opened its 26th &amp; 27th branch at Ghorahi (Dang) and Dhangadhi. The Ghorahi branch was jointly inaugurated by Mahesh Ghimire, Director, Sanima Bank, and Hari Bansha Acharya, renowned artist and social activist of Nepal. Similarly, the Dhangadi branch was jointly inaugurated by Bharat Kumar Pokharel, Director, Sanima Bank, and Hari Bansha Acharya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Shine Resunga Development (SRD) Bank " src="/userfiles/images/SRD.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 19px;" />SRD New Share Certificate Distribution&nbsp;</span></strong></div>
<div>
	Shine Resunga Development (SRD) Bank Limited is distributing new share certificates to the shareholders of Shine Development Bank Limited and Resunga Bikas Bank Limited which merged to form SRD from August 2.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sunrise Bank" src="/userfiles/images/SUNRISE.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" /><img alt="CDSC" src="/userfiles/images/CDSC.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 32px; height: 24px;" />Sunrise Bank&rsquo;s Shares Dematerialized&nbsp;</span></strong></div>
<div>
	Sunrise Bank has joined Central Depository System and Clearing (CDSC) to get its shares dematerialized on August 6. CDSC signed an agreement with Sunrise Bank to dematerialize the company&rsquo;s 2,0150,000 units of shares. As per the agreement, the bank ISIN (International Securities Identification Number) code is NPE014A00008.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Himalayan Bank Ltd (HBL)" src="/userfiles/images/HBL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />HBL at Betrawati and Birtamod&nbsp;</span></strong></div>
<div>
	Prachanda Bahadur Shrestha, member of management team of Himalayan Bank Ltd (HBL) inaugurated bank&rsquo;s Betrawati Branch amidst a function on August 4. Similarly, Manoj Bahadur Shrestha, Chairman of HBL inaugurated bank&rsquo;s Birtamod Branch at Birtamod,amidst a function on August 7. With this, the bank now has 41 branches.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Mahakali Bikas Bank Ltd" src="/userfiles/images/MAHAKALI.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Mahakali at Belauri&nbsp;</span></strong></div>
<div>
	Mahakali Bikas Bank Ltd has opened its 4th branch at Belauri, Kanchanpur. The branch was inaugurated by Dr Gunakar Bhatta, Chief Manager, NRB, Dhangadhi branch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sindhu Bikas Bank Ltd " src="/userfiles/images/SINDHU.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" />Sindhu at Dolalaghat&nbsp;</span></strong></div>
<div>
	Sindhu Bikas Bank Ltd has opened its 5th branch at Dolalghat. The branch was inaugurated by chairman of bank, Rajendra Kumar Shrestha.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="NMB Bank Ltd" src="/userfiles/images/NMB(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />NMB at Rasuwa&nbsp;</span></strong></div>
<div>
	NMB Bank Ltd has opened its 25th branch at Rasuwa. The branch was inaugurated by CDO of Rasuwa District Basudev Ghimire.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Civil Bank" src="/userfiles/images/CIVIL.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 27px;" /><img alt="City Express" src="/userfiles/images/CITYEXPRESS.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 93px; height: 27px;" />Civil and City Tied-up&nbsp;</span></strong></div>
<div>
	Civil Bank has signed agreement with City Express Money Transfer to make remittance payment through the bank&acute;s outlets in different parts of the country. Chandra Tandan, MD of City Express and Kishore Maharjan, CEO of Civil Bank, signed the agreement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Siddhartha Development Bank (SDBL)" src="/userfiles/images/SDBL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" /><img alt=" Prabhu Money Transfer " src="/userfiles/images/PRABHU.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 81px; height: 29px;" />SDBL and Prabhu Tied-up&nbsp;</span></strong></div>
<div>
	Siddhartha Development Bank (SDBL) has signed agreement with Prabhu Money Transfer to make remittance payment through the bank&acute;s 18 branches spread across Nepal. Mahesh Sharma Dhakal, CEO of SDBL and Rameshwor Sapkota, DGM of Prabhu Money Transfer, signed the agreement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Kriti Capital &amp; Investments Ltd." src="/userfiles/images/KRITI.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Kriti Gets PMS License&nbsp;</span></strong></div>
<div>
	Securities Board of Nepal (Sebon) has issued a Portfolio Management Service (PMS) license to Kriti Capital &amp; Investments Ltd. Kriti is the 12th merchant banker to obtain a PMS license under Merchant Banking Regulations, 2008.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sanima Mai Hydropower Limited (SMHL) " src="/userfiles/images/SMHL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />SMHL Gets Grade 3 for its IPO&nbsp;</span></strong></div>
<div>
	The upcoming IPO of Sanima Mai Hydropower Limited (SMHL) has received Grade 3 rating from ICRA Nepal, indicating the company&rsquo;s average fundamentals. SMHL has proposed to float an IPO of 2,110,000 equity shares of face value Rs 100 each.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Sanima Bank Ltd (Sanima) has opened its 26th & 27th branch at Ghorahi (Dang) and Dhangadhi.',
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			'description' => 'Weekly Gold And Silver Price',
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			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rashesh Vaidya</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepse index saw the bearish trend with a decline of 3.92 points during previous week. It had closed 546.55 on Sunday, 4thAugust (the first trading day of the week) and reached 542.63 at the close of Thursday, 8th August (the last trading day of the week). The market floor was open for five days.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the week, the hydro-power companies&rsquo; sub-index decreased the highest by 22.58 points closing at 1225.86 points. There were decline in the share prices of Arun Valley Hydropower Company and Butwal Power Company Ltd (BPCL) by Re 1 and Rs 8 per share respectively during the week. The share price of BPCL dropped by Rs 35 per share closing at Rs 882 which caused the drop in that sub-index by 30.49 points on Monday, 5th August.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The news of the conversion of the promoter shares of seven commercial banks hit the commercial bank sub-index during the week. The sub-index dropped by 6.20 points closing at 537.02 points. The impact of the news was clearly seen in the share price of NIC Asia Bank Limited (NICA) with a drop of Rs 20 per share. There was no change in manufacturing and processing sub-index and trading sub-index during the week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel sub-index saw the highest increment by 16.14 points closing at 668.19. The share price of the Soaltee Hotel Ltd reached to Rs 283 per share on Wednesday, 7th August. However, that dropped by Re 1 and closed at Rs 282 on Thursday.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shares of 126 companies were traded at Nepse during the week through 9,177 transactions amounting to Rs 676,115,847. The transaction amount of the week is 22.44 percent higher than that of earlier week. The total number of scrips traded was 2,071,930 which are less by 909,917 scrips than that of earlier week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NICA topped the list in terms of transaction amount (Rs 45,823,933) from 459 transactions. Nabil Balanced Fund-I topped in number of scrips traded during the week. Altogether 226,096 scrips of the fund were traded during the week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Commerz and Trust Bank Nepal was at the top on the basis of the number of transactions (1067).</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Sectorial Nepse Index" src="/userfiles/images/sectors(1).jpg" style="width: 550px; height: 150px;" /></div>
<div>
	<hr />
	<p>
		<strong><span style="font-size:14px;">Nepse on Sunday</span></strong></p>
</div>
<div>
	Nepse Index closed at 539.4 points on Sunday (August 11). The index dropped by 3.23 points from the Thursday (August 8) close. Only development bank sub-index and insurance sub-index saw an increment by 1.95 points and 13.92 points respectively. Hydro-power sub-index dropped the highest by 6.57 points closing at 1219.29 points with the fall on all the listed shares of hydro power companies. Total of 353,579 shares were traded from 1694 transactions during that day.</div>
<div>
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		'Article' => array(
			'id' => '1639',
			'article_category_id' => '137',
			'title' => 'Gold Demand From India, China Could Hit Record 1,000 Tonnes Each In 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India&rsquo;s gold demand could reach a record 1,000 tonnes this year as consumers buy for the festival and wedding season in the second half, the World Gold Council said, which may scuttle the country&rsquo;s efforts to curb its imports and a trade deficit. Demand from China, which is on course to challenge India&rsquo;s position as the top gold consumer this year, could also soar to a record 1,000 tonnes in 2013, the WGC said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Strong physical buying from the world&rsquo;s biggest consumers, who account for nearly 60 per cent of global demand, will help prop up prices of the metal that have shed about 20 per cent this year after 12 consecutive annual gains. Consumer demand has however not been enough so far to compensate for a sharp drop in investor appetite this year, the WGC said in its quarterly report on Thursday. &nbsp;India, which wants to keep imports below 850 tonnes in 2013, has raised import taxes three times in eight months. On Wednesday, it banned overseas purchases of gold bars and coins to rein in dollar spending.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But the resilience in Indian demand has offset government efforts to curb imports, which revived in July after dropping in June. According to WGC, India&rsquo;s consumption of gold rose to 310 tonnes in the second quarter ended June, highest in the last 10 years, despite government curbs to restrict imports to rein in burgeoning current account deficit. Much of the demand was met by stocks that had been built up to healthy levels following the April price drop. Imports more than doubled to 338 tonnes in April-June of this calendar year, it said. Gold consumption stood at 181.1 tonnes in the same quarter last year.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We&rsquo;ve seen that demand is robust,&rdquo; Somasundaram PR, WGC&rsquo;s India managing director, told Reuters. &ldquo;Once the monsoon is over, rural incomes will rise and that will have its own impact on demand.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There are also a lot more marriage and festival dates in October and November in the fourth quarter,&rdquo; said Somasundaram, who estimated full-year demand between 900 tonnes to 1,000 tonnes for both India and China. Hitting the upper end of that range would be record annual consumption for both the countries, he said. The rural population accounts for about 60 per cent of gold demand in India, where the precious metal forms an essential part of a bride&rsquo;s dowry and is considered auspicious as a gift or offering at religious festivals. India&rsquo;s demand reached 566 tonnes in the first half of the year, a 50 per cent jump but still lower than China&rsquo;s 600 tonnes, the industry-funded WGC said in its report.</div>
<div>
	&nbsp;</div>
<div>
	Demand this year has been particularly strong as falling prices have prompted consumers across the world to buy bullion in the form of jewellery, bars and coins. Analysts say India&rsquo;s moves to curb imports have been unable to stifle demand, thus pushing local prices to around $50 an ounce above London spot prices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Record Buying in China&nbsp;</strong></div>
<div>
	China&rsquo;s gold-buying spree in the first six months of the year is likely to continue into the second half amid festivals and uncertainty about the economy, which has seen a slowdown in nine out of the past 10 quarters.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The falling gold price is key. But there are also other macroeconomic conditions that are pushing (the Chinese) to gold,&rdquo; said Albert Cheng, WGC&rsquo;s managing director for the Far East region. (Agencies)</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<h2>
		<strong>Appetite for Gold in Nepal Rising</strong></h2>
</div>
<div>
	The consumption of yellow metal among Nepali consumers has been following an increasing trend. According to Ministry of Finance (MoF), gold import in Nepal reached 5,807 kg which is worth Rs 26 billion in the fiscal year 2012-13.</div>
<div>
	&nbsp;</div>
<div>
	However, the import of gold was slightly down in the last FY compared to the whopping 5,900 kg in the FY 2011-12. &nbsp;Traders blame the quota system imposed by the government for the decline in the last fiscal year though their overall gold consumption outlook remains bullish. &ldquo;Our initial estimation shows that about 26 tonnes of gold will be consumed by the end of current FY in the domestic market,&rdquo; said Manik Ratna Shakya, general secretary of Nepal Gold and Silver Dealers Association (NEGOSIDA).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya informed that the average daily gold demand in the domestic market stands at 30 kg on average. &ldquo;The average daily demand in the marriage season stands around 35 kg. We&rsquo;ve witnessed the seasonal demand of gold up to 50 kg in the past,&rdquo; he mentioned. Shakya blamed the restrictions imposed on gold imports for the low quantity trade. &ldquo;The quota system has actually promoted illegal trade and it has some immediate impacts,&rdquo; he told The Corporate weekly, &ldquo;The government&rsquo;s revenue from gold import will decline and the remittance inflow will also suffer as migrant workers may buy gold abroad and send it here using informal channels due to the restrictions.&rdquo;</div>',
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		'Article' => array(
			'id' => '1638',
			'article_category_id' => '134',
			'title' => 'Necessities Of Commercial Bench',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong style="font-size: 14px;"><img alt="Shreekant Poudel,the spokesperson of the Supreme Court." src="/userfiles/images/BK.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 175px; height: 224px;" />Shreekant Poudel</strong><span style="font-size: 14px;"> Is the spokesperson of the Supreme Court. In an interview with </span><strong style="font-size: 14px;">Britant Khanal</strong><span style="font-size: 14px;"> of The Corporate weekly he shed light on the introduction of commercial bench and its need.</span><strong style="font-size: 14px;"> Excerpts:</strong></div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you highlight the reason behind establishing the commercial bench?</strong></div>
<div>
	The first and foremost reason behind the establishment of this bench is the need for speedy justice, easy access and quick legal remedies for the commercial sector. Even more important is the demand made by the law in many acts after the second Jana Andolan. It is clearly mentioned that such and such cases will be dealt by the commercial bench like for instance in Section Z8 of the Company Act. After 2006, the World Bank had also suggested the requirement of such a bench. The Company Act, the Secured Transaction Act and other acts related to safe competition have mentioned the requirement of this bench. Was this issue initiated by ADB? I don&rsquo;t think so but the ADB had some general interest and it had recommended on bringing such a bench too.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What new prospects will the bench bring? Will it have the same old practices disguised as new?</strong></div>
<div>
	In the process of establishing this bench we had to and we still are training judges, judicial staffs and even lawyers. The training lasts from one to one-and-a-half months as per requirement. The judges who attend the training are only sent to the bench for hearing commercial cases. The new commercial bench will therefore slowly shed some old ways.</div>
<div>
	&nbsp;</div>
<div>
	<strong>There seems to be a paradox in the bench being established for the benefit of the commercial sector while the jurisdiction seems a bit scattered, vague and ambiguous. Could you talk a little about this? &nbsp; &nbsp;</strong></div>
<div>
	We are still in the starting phase of establishing the bench. As per my knowledge, the initial requirement was that of a separate commercial court which came down to establishing a commercial bench in appellate courts. This was required because cases related to the commercial sector are heard in a scattered manner. For example, cases of contract are first heard by the district court, that of patents are heard by the department of industry, and many cases are addressed by the Nepal Rastriya Bank (NRB) too. Therefore, a common institution to streamline all commercial cases and bring them under one umbrella seemed to be necessary.</div>
<div>
	&nbsp;</div>
<div>
	Home work is yet to be completed. It was rightly questioned whether or not offences in banking will be dealt by the commercial bench. The issue is still subject to research and analysis. There are other issues also like that of intellectual property and cases of revenue tribunal. So there is a lot to be done and we are striving to bring all of these cases under the commercial bench.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Has the bench been established in all appellate courts in the country?</strong></div>
<div>
	No, we have not established commercial benches in all appellate courts as they are established in a need-based manner. The previous chief justice had recommended the bench to be established in six places including Pokhara but later it was only established in four places. We therefore have established this bench in five places, Hetauda being the youngest which was established two years back and the other four are Biratnagar, Hetauda, Butwal, Nepalgunj and Patan.</div>
<div>
	<img alt="Cases Regarding Commercial Bench" src="/userfiles/images/cbnch.jpg" style="width: 500px; height: 235px;" /></div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#FFFFFF">
					<div>
						&nbsp;</div>
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Gandhi Pandit Advocate" src="/userfiles/images/GP.jpg" style="width: 200px; height: 250px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Gandhi Pandit</strong></div>
									<div>
										Advocate</div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						<h1 style="text-align: center;">
							&lsquo;We are still at the initial stage&rsquo;</h1>
						<div>
							<strong>What is your take on the commercial bench?</strong></div>
						<div>
							The judges must be competent to look at all kinds of cases, but frankly, that is not possible all the time because of growing trade issues in the domestic and global markets and because some of the cases are so sophisticated that they require specialised knowledge and high expertise is not available in the country. Smooth functioning of the economy will require a better legal system which will support rapid growth and development. Therefore, the present context demands a commercial bench to go in hand in hand with the pace of development in order to be able to forge a conducive environment for global as well as domestic investors.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Where can we trace the footprints of this system?</strong></div>
						<div>
							This system can be traced to the continental legal system, commonly understood as the French and German legal system. In these systems, we can see the trends of a commercial tribunal, a labour tribunal, an industrial tribunal, among others. In these kinds of tribunals the specialised skills of various sectors are brought for the better understanding of the case. And this system was later followed by Britain and the United States of America. Therefore, this pragmatic approach has led to speedy justice and quick legal remedies in these nations. But in our context, we are still lagging behind. Our judges are still traditional and are only specialised in traditional issues such as cases of land dispute, writ petition, etc. whereas we don&rsquo;t have expertise on cases like letter of credit, IT law, intellectual property law, cases of trademark and so on.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>What could be the possible remedy to such lacunae and paralysis?</strong></div>
						<div>
							Establishing the bench is one thing and effectiveness is another. As judges are frequently transferred to places without access to such knowledge, they will require training, and attending the training once will not make an impact as there has to be periodic training which we are lacking. Therefore the national judicial academy has been training judges but in the same traditional cases only. Not enough training has been provided in the field of modern commercial issues. Another major problem is procedural delay. These kinds of hurdles will further delay justice and so they will have to be reduced to a minimum. Such deficiencies in the system will give a very wrong message to foreign investors.</div>
					</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
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</div>
<p>
	&nbsp;</p>',
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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' => 'The first and foremost reason behind the establishment of this bench is the need for speedy justice, easy access and quick legal remedies for the commercial sector.',
			'sortorder' => '1499',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1637',
			'article_category_id' => '122',
			'title' => 'A Leading Chain Of Hotels In Nepal Grows Bigger',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Rajan Sakya CEO, KGH Group" src="/userfiles/images/rajan(2).jpg" style="width: 175px; height: 192px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Rajan Sakya</strong></div>
				<div>
					CEO, KGH Group</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	The KGH Group has recently revamped rooms and interiors of its signature hotels, Park Village Hotel and Resorts and Kathmandu Guest House. According to Rajan Sakya, CEO of KGH Group, 60 rooms of five-star facility were added on each hotel in the year 2012. Sakya says that rooms were upgraded in accordance with the demand of clients and growing competition to offer quality service.</div>
<div>
	&nbsp;</div>
<div>
	Renovation work is also ongoing at Aqua Buzz Unlimited, a hotel located in Koshi. Sakya admits that the hotel is not doing impressive business at the moment but he is optimistic that Koshi will emerge as a tourism hub when the Banepa-Bardibas highway gets completed in the next two years. He says that the highway will shorten the distance between Koshi and Kathmandu and will increase tourist flow to the area.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Expansion Plans</span></strong></div>
<div>
	The KGH Group plans to add new properties to business in the years to come to their current line-up of eight hotels and three travel agencies. According to Sakya, the group is planning to establish two new hotels within the next two years. He says one will be in Kathmandu while the other will be in Koshi.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Karna Sakya, Founding President of the group wishes to see the business he established to be passed on to the future generation. Rajan Sakya, his youngest son also expresses commitment to continue the business and says, &ldquo;Tourism is the industry where we have expertise and long-time experience. The next generation will also be involved in the same field as we do not have any plans to venture into any other sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	When making plans for the future, young Sakya says that the overall business climate of Nepal makes it difficult to make long-term plans. So, he says the group has been only making plans for the short term.</div>
<div>
	&nbsp;</div>
<div>
	Sakya reveals that the group plans to streamline and standardise the quality of its services offered throughout the properties of the group as well as its management style. For this purpose, he says, the group is adopting a corporate model of running business that will centrally control all sister concerns it owns.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Clientele and Occupancy</span></strong></div>
<div>
	The morale of tourism entrepreneurs is getting a boost with the rise in tourist flow after the insurgency. Sakya is also content with the number of clients his chain of hotels has been able to attract. He says that the occupancy level has been satisfactory throughout the year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Sakya, Park Village Resort is primarily targeting conferences and seminars, and so 60 per cent of its clients are Nepalis while the rest are foreigners. Similarly, guests at the Kathmandu Guest House are mostly adventure tourists and it is an all-season hotel with 100 per cent foreign clients. Likewise, 80 per cent of clients at the group&rsquo;s hotels in Pokhara, Chitwan and Lumbini comprise of foreigners.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Management strategy</span></strong></div>
<div>
	The KGH Group has been operating under the family business model since Karna Sakya ventured into the tourism and hospitality sector almost 48 years ago. &ldquo;We are not running our business similar to a professionally managed five star hotel. &nbsp;Though we have professional hotel managers to look after a particular hotel, we have shouldered the responsibility of running the business and we are happy with this style because we believe we have the expertise and experience of several decades,&rdquo; explains Rajan Sakya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Sakyas, however, are planning to corporatise the group in the next one to two years. The group plans to set up a corporate head office in Kathmandu with a team headed by a General Manager. Sakya says that the corporate office will centrally control the accounts, internal audits and central purchasing. &ldquo;This model is being adopted to standardise the quality of services and products used across all the properties under the group,&rdquo; he says.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Human Resource Management</span></strong></div>
<div>
	The KGH Group has not only created employment for 650 to 700 people but also has been meeting a social responsibility in hiring employees. Sakya says that the group hires women under the shelter of Maiti Nepal, a non profit organisation dedicated to help victims of sex trafficking. As women from the organisation find it challenging to reintegrate into society after being rescued from brothels, the KGH group has tied up with Anuradha Koirala (Founder and Director of Maiti Nepal and also a winner of CNN Heroes of 2010) to provide them with job opportunities in all of its properties, says Sakya.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the group prioritises hiring employees from underprivileged groups and communities. Sakya says that the group gives preference to those who have returned after working abroad. He gives an example of a recent recruitment of 10 employees who had returned from the US and the UK. He also reveals that the employee turnover at the group is quite low and some of the employees have been with the company for even decades. &ldquo;We have maintained a very good relationship with employees and so, we do not have problems with the human resource management,&rdquo; he states about the company&rsquo;s relationship with its employees.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="KGH GROUP NEPAL" src="/userfiles/images/2a.jpg" style="width: 500px; height: 169px; margin-left: 25px; margin-right: 25px;" /></div>
<div>
	<hr />
	<div>
		<strong style="font-size: 14px;">The KGH journey</strong></div>
</div>
<div>
	The journey of the KGH Group began when Karna Sakya, Founding President of the group established Kathmandu Guest House in Thamel, 48 years ago. Sakya recalls that Thamel was nothing more than a paddy field then. Thamel, the tourist hub of today grew around the hotel which started with 13 rooms.</div>
<div>
	&nbsp;</div>
<div>
	Sakya, a government employee then, used to work at the department of forestry and was not satisfied with the working environment. &nbsp;Brought up in an affluent family, he never felt that he had to take up a job to make his living. A traveller himself, he says that one must be able to comprehend what tourists want in order to run a tourism business and adds: &ldquo;Tourism is a business of dreams and only a dreamer can delve deep into this sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	His expertise as a forester and environmentalist is reflected in the hotels of the group. He has always prioritised the harmony between buildings, nature and the culture of the locality where the hotel is built and it can be witnessed in any of the sister hotels of the group. Sakya says he never developed a property on a leased or government land and all land where hotels are built is owned by the group.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	When the country was at the peak of insurgency, the group never took a break. Rather it expanded into new projects and purchased land that helped it achieve success that it had never seen earlier.</div>
<div>
	&nbsp;</div>
<div>
	Today, the group has eight hotels and three travel agencies and is about to mark its golden jubilee in two years&rsquo; time</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#FFFFFF">
				<h2>
					Signature Hotels of the KGH Group</h2>
				<div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Park Village Hotel and Resort</span></strong></div>
					<div>
						<img alt="Park Village Hotel and Resort" src="/userfiles/images/park%20villafge.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 131px;" />This hotel spreads over 55 ropanis of land and is nestled in the foothills of Shivapuri National Park. Located just seven kilometres away from the heart of Kathmandu city, the hotel is so close to nature that it is regarded as a hotspot for bird watching, gorgeous scenery and harbours over 78 species of 3000 flowering plants. The hotel primarily targets conference clients and has seven conference halls and parking space for 80 vehicles. Similarly, it has 135 rooms, suites and service apartments of five star categories, swimming pool and spa among other luxurious amenities.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Kathmandu Guest House</span></strong></div>
					<div>
						<img alt="Kathmandu Guest House" src="/userfiles/images/kgh.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 132px;" />Kathmandu Guest House is the second largest hotel of the group that also preserves the architectural grandeur of a Rana palace intact along with ultra modern facilities. The hotel named one of the 300 most popular icon hotels in Asia by the Inside Guide in 2003 is famous among adventure tourists, writers, musicians and artists travelling Nepal. The hotel located at the heart of city, Thamel, has 150 rooms that cost from USD 30 to USD160 per night. Recently, the hotel has upgraded its rooms and interiors keeping the elegance and history of its architecture alive.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Waterfront Resort</span></strong></div>
					<div>
						The resort located on the banks of Fewa Lake in the popular tourist destination, Pokhara, is spread over 15 ropanis of land. The company claims that it is one of the best eco friendly hotels in Pokhara. The resort even has a rain harvesting system and waste water is recycled to be used in its gardens, according to the company. One of the newest ventures of the KGH Group, the resort offers unparalleled views of the lake and mountains. The resort with 60 rooms also offers a peaceful and homely environment.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Buddha Maya Garden Hotel</span></strong></div>
					<div>
						<img alt="Buddha Maya Garden Hotel" src="/userfiles/images/bmg.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 130px;" />The hotel is located just five minutes from the birth spot of Lord Buddha in Lumbini. The hotel spreads over nine bighas of land and has its garden full of indigenous Buddha era trees. Founder of the group, Karna Sakya&rsquo;s expertise in forestry and environment has inspired the landscape of the hotel in marrying art, culture and nature. It is one of the largest hotels in Lumbini with three and four star quality rooms.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Maruni Sanctuary Lodge</span></strong></div>
					<div>
						<img alt="Maruni Sanctuary Lodge" src="/userfiles/images/msl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 131px;" />Established in 2004 with 11 cottages, the hotel has now expanded into 37 huts. The hotel nestled on the edge of Chitwan National Park and just 10 minutes walk from Sauraha. All rooms are decorated in a unique traditional architecture with bamboo furniture, terra-cotta flooring and colourful ethnic Tharu paintings. The hotel also has its own wetland that attracts migratory birds, making it ideal for bird watching.</div>
					<div>
						&nbsp;</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
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			'description' => 'The KGH Group has recently revamped rooms and interiors of its signature hotels, Park Village Hotel and Resorts and Kathmandu Guest House.',
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		'Article' => array(
			'id' => '1636',
			'article_category_id' => '160',
			'title' => 'Corptoon Issue 27',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-08-18',
			'modified' => '0000-00-00',
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			'description' => 'Corptoon',
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		'Article' => array(
			'id' => '1635',
			'article_category_id' => '91',
			'title' => 'Middle Bhotekoshi To Start In December',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The construction of the 102 MW Middle Bhotekoshi hydropower project in Sindhupalchowk district is all set to start in December. According to the Chief Manager of the project, Prakash Awasti, the process for selection of international consultant for the project is in the last phase. &ldquo;Within two months the evaluation of the tender will be done and construction will begin,&rdquo; he said. Awasthi informed that the project will be constructed under the engineering, procurement and construction (EPC) model. Middle Bhotekoshi is considered to be one of the major hydel projects of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Starting from 2013 the project is targeted for completion by 2016. &ldquo;There will be no problems from the local people for construction,&rdquo; informed Awasti. Madhya Bhotekoshi Jalbhidyut Company Ltd have already paid Rs 33.2 million to locals for land acquisition. The project has completed construction of the 250 meter long adit tunnel. Constructed under the Q-40 model, the project is expected to cost around Rs 14 billion. It is expected to generate 542.3 million units of electricity annually. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Financial management is already completed for the project. Out of the total amount of shares invested, 51 per cent will be from founding members and 49 per cent from public shares. The company has signed a Power Purchased Agreement (PPA) with the Nepal Electricity Authority (NEA) and has submitted its environment impact assessment (EIA) to the government. &ldquo;We already presented the paper to issue the power generation license,&rdquo; said Awasti. The project is also planning connect the generated electricity with the national transmission line by bringing it to a substation line in Barhabise.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The construction of the 102 MW Middle Bhotekoshi hydropower project in Sindhupalchowk district is all set to start in December.',
			'sortorder' => '1496',
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		'Article' => array(
			'id' => '1634',
			'article_category_id' => '91',
			'title' => 'Microfinance Stretching Arms In Financial Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma &amp; Yagya Banjade</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali Microfinance Institutions (MFIs) have been witnessing a sharp inflow of investment in recent months. Since the inception of Nirdhan Utthan Development Bank as the first MFI in the Nepali stock market in 2011, shares of such companies have been following a bullish trend. The continuous rise in the share price of MFIs listed in Nepal Stock Exchange (NEPSE) is seen to be the main causative factor.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The attraction of MFIs among investors is being caused due to various reasons. Experts share mixed viewpoints on this. According to some analysts, the below Rs 500 per share price level of a majority of listed microfinance banks is a main driving factor. Others point out to the loose policy announced by Nepal Rastra Bank (NRB) regarding MFIs in the monetary policy for the current fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Investing in MFIs is considered secure. Microcredit banks can commence their business with small amounts of capital and have less liability compared to larger financial institutions,&rsquo; said Dharmaraj Pandey, CEO of Paschimanchal Gramin Bikas Bank. &ldquo;Due to this, investment in MFIs carries less risk, giving good returns.&rdquo; Similarly, the fast-paced growth of the microcredit market and increasing investment of microfinance banks is also fuelling investor&rsquo;s attraction, according to Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Anjanraj Poudyal, former Chairman of Stock Brokers Association of Nepal (SEBAN) also agreed with Pandey. &ldquo;The number of MFIs listing in the stock exchange having competent promoters has significantly gone up in recent years which have helped attract more investment in this sector,&rdquo; Poudyal said. According to Poudyal, investment is coming from individuals as well as institutions. &ldquo;Some mutual funds are giving high priority to the shares of microfinance banks in their portfolio,&rdquo; he mentioned.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Investors are looking optimistic about their investments in MFIs. &ldquo;The directive given by NRB to banks and financial institutions for loan expansion to the impoverished people is ascending the demand of MFIs shares in the market, however the equilibrium of such demand and supply is not well balanced,&rdquo; mentioned an investor in the condition of anonymity. &ldquo;The earning per share (EPS) of many microfinance banks is better than some commercial banks,&rdquo; he added. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to official data, 31 microfinance banks, 15 microcredit co-operative and 31 microcredit non-government organisations (NGOs) are actively providing services throughout the country. In regard to this, the number of MFIs in stock exchange is gradually rising. The total number of shares of 11 microfinance banks listed in NEPSE reached 273.638 million towards the end of Shrawan. Out of the listed 11 banks, share transactions of three companies have been held back due to various reasons.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">&lsquo;Different category for MFIs in NEPSE needed&rsquo;</span></strong></div>
<div>
	Microfinance banks are placed in the development bank section of the NEPSE index. However, with the rising number, voices are being raised to separate microfinance banks from development banks in the share index. &ldquo;As the listing is constantly rising, separate group is needed for effective management of microcredit banks in the share index,&rdquo; SEBAN&rsquo;s former chairman Poudyal said.&nbsp;</div>
<div>
	&nbsp;</div>',
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			'description' => 'Nepali Microfinance Institutions (MFIs) have been witnessing a sharp inflow of investment in recent months.',
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		'Article' => array(
			'id' => '1633',
			'article_category_id' => '91',
			'title' => 'FDI: More Promise, Less Work',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	The Nepal government&rsquo;s policy to allow foreign direct investment to improve Nepal&rsquo;s economic prospects has Lured foreign investors to come to Nepal to register joint ventures in various sectors, mainly the tourism and service sectors. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, they are yet to release funds to kick-start their projects. Economists and industrialists attribute the government&rsquo;s apathy and labour unrest behind foreign investors&rsquo; reluctance to start their ventures.</div>
<div>
	&nbsp;</div>
<div>
	The number of companies with joint ventures has increased. However, unlike what was anticipated, their investment has not contributed much to boost Nepal&rsquo;s economy.</div>
<div>
	&nbsp;</div>
<div>
	According to data from the Department of Industries (DoI), 300 joint ventures were registered with DoI by the end of FY 2012-13.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The total cost of these 300 projects amounts to Rs 32214.18 million, of which foreign investment has summed up to Rs 19398.14 million.</div>
<div>
	&nbsp;</div>
<div>
	Data shows that investors are most attracted towards the tourism sector followed by the service sector. Among those registered, 87 have been registered for the tourism sector, and 85 for the service sector. Foreign investors have a share of Rs 4525.03 million only in a total investment worth Rs 12417.2 million on 77 manufacturing industries registered at the DoI.</div>
<div>
	&nbsp;</div>
<div>
	Agriculture, Energy, Mineral and Construction are four other sectors among seven that have drawn foreign investment to Nepal in joint ventures. These sectors have promised Rs 852.01 million, Rs 2134 million, Rs 584 million and Rs 100 million, respectively, from foreign investors.</div>
<div>
	&nbsp;</div>
<div>
	The 300 ventures registered at the DoI estimate to create 14, 895 job opportunities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Among these registered projects, Chinese investors own the highest number of ventures among investors from 42 other countries to invest in Nepal. Their total investment amounts Rs 2627.40 million.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, in terms of volume, investors from the British Virgin Islands have the biggest figure of Rs 4497.40 million. This is followed by investment from Hongkong worth Rs 3070 million.</div>
<div>
	&nbsp;</div>
<div>
	However, all of these investors have not started their respective ventures. Dinesh Shrestha, Chairperson of the Industrial Department at Federation of Nepal Chambers of Commerce and Industry (FNCCI), blames the government for not forming a favourable policy towards prompting foreign investors to kick-start their ventures immediately. &ldquo;They are in a wait-and-watch-mood,&rdquo; he says, adding that the government should take a lead in inviting them to begin work.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;A favourable policy would mean drafting laws and formulating policies like the Foreign Direct Investment Act and the Special Economic Zone Act, among others,&rdquo; he explains.</div>
<div>
	&nbsp;</div>
<div>
	Asked why foreign investors are not much attracted to the manufacturing sectors, Shrestha argues that the pitiable conditions of manufacturing industries in Nepal might have signaled to them that investment in this sector will not have promising returns.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Our own national factories are on the verge of collapse; how can we expect foreigners come immediately and invest in sectors that have high risk?&rdquo; he questions. Shrestha, however, claims that foreign investors will start working as soon as the business environment will be in their favour.</div>
<div>
	&nbsp;</div>
<div>
	Prithvi Raj Ligal, former Vice-chairperson of the National Planning Commission, agrees with Shrestha. &ldquo;Labour unions, lack of foresight in the government, lack of consistent policies and the power crisis are also equally responsible for discouraging foreign investors to come and start their ventures immediately.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Foreign Investment Project in nepal" src="/userfiles/images/FDI1.jpg" style="width: 500px; height: 222px; margin-left: 25px; margin-right: 25px;" /></div>',
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			'description' => 'The Nepal government’s policy to allow foreign direct investment to improve Nepal’s economic prospects has Lured foreign investors to come to Nepal to register joint ventures in various sectors, mainly the tourism and service sectors.',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1632',
			'article_category_id' => '48',
			'title' => 'New Budget's Growth Tricks',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Growth is what Nepal needs today. The recent budget for this fiscal year has aptly embodied this national aspiration. The very size of the budget has ballooned-up by almost forty percent compared to last year. Accordingly, the deficit gap, revenue targets, inflation estimates, government employees&#39; pay and many more have grown substantially. if you point to a few aspects like GDP growth projections and proposed capital expenditure, you must be an anti-democrat for sure. When majority of things are so rapidly growing, one should not bother about a few things that are in such declining trend.<br />
	<br />
	Besides, this budget has all ingredients to fuel growth. No sooner the budget declared that the government employees&#39; pay would be hiked by 18 percent plus straight one thousand bucks, the market has reenergized instantly.From vegetable venders to taxi drivers, grocers to airline operators, everybody has concrete plans to increase the prices, even before the salary-earners pocket their first added pay. The magic of this budget is: twenty percent increase in pay has the power to increase the price by at least forty percent.</p>
<p>
	As an axiom, the rise in prices is indeed the sign of growth and development. Look at the most expensive cities in the world, Tokyo, London, Moscow, Shanghai or Mumbai. They are developed because they are most expensive. Now Kathmandu can be a new candidate in that category, thus a developed city.<br />
	<br />
	We have some extra qualities to ensure growth and development, by using unique model of &#39;growth by price rise&#39;. No mechanism exists to control price and goods and service providers of all kinds have a free hand to fix their price and enforce cartels. Taxi drivers often bring the city to stand-still within hours if any regulators questions about their tampered fare meter and private water suppliers can stop the supply if authorities try to question about the potability of it. The only party that has to backdown invariably is the government. There are thousands of such examples which ensure prices in our country would only rise, and rise regardless of anything. This means, in other words, our growth and development is guaranteed.<br />
	<br />
	Just the talk of elections would provide an additional impetus to growth. Political parties will actively engage themselves in &#39;donation&#39; collection, while the businessmen and industrialists &#39;voluntarily&#39; set aside a big sum for the cause. That means they need to earn more by every possible means of black-marketing to hoarding. This the time the country sees a true business-friendly climate, when no business person is penalized or admonished for making arrangements of extra earnings.<br />
	<br />
	Elections have all other economic advantages. Donors come with offers of assistance in many forms -- cash, kinds, experts, observers, clergies and copies of bibles. Business activities in all sectors multiply, transports,hotels, goons, contract killers and armed robbers -- virtually everybody and everything will be hired by politicians and political parties to win the elections. Unemployment problem will be solved at once. That is the reason Nepal has taken up the technique of very often announcing the dates for elections but never actually holding them. From this experience, we can foretell that the proposed November elections will also be postponed for next April, so that Nepali economy can get double boost from the same elections fever.<br />
	<br />
	In any case, if we were to develop and grow, we must stop thinking about aspects of decrease, decline or fall..Those In any case, if we were to develop and grow, we must stop thinking about aspects of decrease, decline or fall. Those who don&#39;t believe in incremental thinking, they must be socially boycotted. Therefore, along with the salary of the government employees, the rate of grease money must be increased. Business people, transport operators and contractors must increase their costs. Government must increase the taxes; business community then increases the tax evasion. No matter whatever is increased, it is growth. That is the reason our finance minister is so sure, his budget will only develop the country. You just don&#39;t worry, which direction it grows, however.<br />
	&nbsp;</p>',
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			'description' => 'Growth is what Nepal needs today. The recent budget for this fiscal year has aptly embodied this national aspiration. The very size of the budget has ballooned-up by almost forty percent compared to last year. Accordingly, the deficit gap, revenue targets, inflation estimates, government employees' pay and many more have grown substantially. if you point to a few aspects like GDP growth projections and proposed capital expenditure, you must be an anti-democrat for sure.',
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			'id' => '1631',
			'article_category_id' => '146',
			'title' => 'Visual Edit Issue 26',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-08-13',
			'modified' => '0000-00-00',
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			'description' => 'Visual Edit',
			'sortorder' => '1492',
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		'Article' => array(
			'id' => '1630',
			'article_category_id' => '108',
			'title' => 'Money Matters News In Brief (12 - 18 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;">S<img alt="Sanima Bank Ltd" src="/userfiles/images/SANIMA.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />anima at Ghorai &amp; Dhangadhi&nbsp;</span></strong></div>
<div>
	Sanima Bank Ltd (Sanima) has opened its 26th &amp; 27th branch at Ghorahi (Dang) and Dhangadhi. The Ghorahi branch was jointly inaugurated by Mahesh Ghimire, Director, Sanima Bank, and Hari Bansha Acharya, renowned artist and social activist of Nepal. Similarly, the Dhangadi branch was jointly inaugurated by Bharat Kumar Pokharel, Director, Sanima Bank, and Hari Bansha Acharya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Shine Resunga Development (SRD) Bank " src="/userfiles/images/SRD.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 19px;" />SRD New Share Certificate Distribution&nbsp;</span></strong></div>
<div>
	Shine Resunga Development (SRD) Bank Limited is distributing new share certificates to the shareholders of Shine Development Bank Limited and Resunga Bikas Bank Limited which merged to form SRD from August 2.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sunrise Bank" src="/userfiles/images/SUNRISE.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" /><img alt="CDSC" src="/userfiles/images/CDSC.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 32px; height: 24px;" />Sunrise Bank&rsquo;s Shares Dematerialized&nbsp;</span></strong></div>
<div>
	Sunrise Bank has joined Central Depository System and Clearing (CDSC) to get its shares dematerialized on August 6. CDSC signed an agreement with Sunrise Bank to dematerialize the company&rsquo;s 2,0150,000 units of shares. As per the agreement, the bank ISIN (International Securities Identification Number) code is NPE014A00008.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Himalayan Bank Ltd (HBL)" src="/userfiles/images/HBL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />HBL at Betrawati and Birtamod&nbsp;</span></strong></div>
<div>
	Prachanda Bahadur Shrestha, member of management team of Himalayan Bank Ltd (HBL) inaugurated bank&rsquo;s Betrawati Branch amidst a function on August 4. Similarly, Manoj Bahadur Shrestha, Chairman of HBL inaugurated bank&rsquo;s Birtamod Branch at Birtamod,amidst a function on August 7. With this, the bank now has 41 branches.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Mahakali Bikas Bank Ltd" src="/userfiles/images/MAHAKALI.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Mahakali at Belauri&nbsp;</span></strong></div>
<div>
	Mahakali Bikas Bank Ltd has opened its 4th branch at Belauri, Kanchanpur. The branch was inaugurated by Dr Gunakar Bhatta, Chief Manager, NRB, Dhangadhi branch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sindhu Bikas Bank Ltd " src="/userfiles/images/SINDHU.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" />Sindhu at Dolalaghat&nbsp;</span></strong></div>
<div>
	Sindhu Bikas Bank Ltd has opened its 5th branch at Dolalghat. The branch was inaugurated by chairman of bank, Rajendra Kumar Shrestha.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="NMB Bank Ltd" src="/userfiles/images/NMB(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />NMB at Rasuwa&nbsp;</span></strong></div>
<div>
	NMB Bank Ltd has opened its 25th branch at Rasuwa. The branch was inaugurated by CDO of Rasuwa District Basudev Ghimire.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Civil Bank" src="/userfiles/images/CIVIL.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 27px;" /><img alt="City Express" src="/userfiles/images/CITYEXPRESS.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 93px; height: 27px;" />Civil and City Tied-up&nbsp;</span></strong></div>
<div>
	Civil Bank has signed agreement with City Express Money Transfer to make remittance payment through the bank&acute;s outlets in different parts of the country. Chandra Tandan, MD of City Express and Kishore Maharjan, CEO of Civil Bank, signed the agreement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Siddhartha Development Bank (SDBL)" src="/userfiles/images/SDBL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" /><img alt=" Prabhu Money Transfer " src="/userfiles/images/PRABHU.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 81px; height: 29px;" />SDBL and Prabhu Tied-up&nbsp;</span></strong></div>
<div>
	Siddhartha Development Bank (SDBL) has signed agreement with Prabhu Money Transfer to make remittance payment through the bank&acute;s 18 branches spread across Nepal. Mahesh Sharma Dhakal, CEO of SDBL and Rameshwor Sapkota, DGM of Prabhu Money Transfer, signed the agreement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Kriti Capital &amp; Investments Ltd." src="/userfiles/images/KRITI.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Kriti Gets PMS License&nbsp;</span></strong></div>
<div>
	Securities Board of Nepal (Sebon) has issued a Portfolio Management Service (PMS) license to Kriti Capital &amp; Investments Ltd. Kriti is the 12th merchant banker to obtain a PMS license under Merchant Banking Regulations, 2008.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sanima Mai Hydropower Limited (SMHL) " src="/userfiles/images/SMHL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />SMHL Gets Grade 3 for its IPO&nbsp;</span></strong></div>
<div>
	The upcoming IPO of Sanima Mai Hydropower Limited (SMHL) has received Grade 3 rating from ICRA Nepal, indicating the company&rsquo;s average fundamentals. SMHL has proposed to float an IPO of 2,110,000 equity shares of face value Rs 100 each.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Sanima Bank Ltd (Sanima) has opened its 26th & 27th branch at Ghorahi (Dang) and Dhangadhi.',
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			'title' => 'US Dollar Exchange Rate At Local Market ( 5 -11 August 2013)',
			'sub_title' => '',
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			'published' => true,
			'created' => '2013-08-13',
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			'description' => 'US Dollar Exchange Rate At Local Market',
			'sortorder' => '1490',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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			'title' => 'Top Ten Losers (5 -11 August 2013)',
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			'content' => '',
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			'description' => 'Top Ten Losers',
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			'title' => 'Weekly Gold And Silver Price (5 - 11 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-08-13',
			'modified' => '0000-00-00',
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			'description' => 'Weekly Gold And Silver Price',
			'sortorder' => '1488',
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			'content' => '',
			'published' => true,
			'created' => '2013-08-13',
			'modified' => '2013-08-13',
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			'description' => 'Top Ten Gainers',
			'sortorder' => '1487',
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		'Article' => array(
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			'article_category_id' => '109',
			'title' => 'Nepse Around 542',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rashesh Vaidya</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepse index saw the bearish trend with a decline of 3.92 points during previous week. It had closed 546.55 on Sunday, 4thAugust (the first trading day of the week) and reached 542.63 at the close of Thursday, 8th August (the last trading day of the week). The market floor was open for five days.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the week, the hydro-power companies&rsquo; sub-index decreased the highest by 22.58 points closing at 1225.86 points. There were decline in the share prices of Arun Valley Hydropower Company and Butwal Power Company Ltd (BPCL) by Re 1 and Rs 8 per share respectively during the week. The share price of BPCL dropped by Rs 35 per share closing at Rs 882 which caused the drop in that sub-index by 30.49 points on Monday, 5th August.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The news of the conversion of the promoter shares of seven commercial banks hit the commercial bank sub-index during the week. The sub-index dropped by 6.20 points closing at 537.02 points. The impact of the news was clearly seen in the share price of NIC Asia Bank Limited (NICA) with a drop of Rs 20 per share. There was no change in manufacturing and processing sub-index and trading sub-index during the week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel sub-index saw the highest increment by 16.14 points closing at 668.19. The share price of the Soaltee Hotel Ltd reached to Rs 283 per share on Wednesday, 7th August. However, that dropped by Re 1 and closed at Rs 282 on Thursday.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shares of 126 companies were traded at Nepse during the week through 9,177 transactions amounting to Rs 676,115,847. The transaction amount of the week is 22.44 percent higher than that of earlier week. The total number of scrips traded was 2,071,930 which are less by 909,917 scrips than that of earlier week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NICA topped the list in terms of transaction amount (Rs 45,823,933) from 459 transactions. Nabil Balanced Fund-I topped in number of scrips traded during the week. Altogether 226,096 scrips of the fund were traded during the week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Commerz and Trust Bank Nepal was at the top on the basis of the number of transactions (1067).</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Sectorial Nepse Index" src="/userfiles/images/sectors(1).jpg" style="width: 550px; height: 150px;" /></div>
<div>
	<hr />
	<p>
		<strong><span style="font-size:14px;">Nepse on Sunday</span></strong></p>
</div>
<div>
	Nepse Index closed at 539.4 points on Sunday (August 11). The index dropped by 3.23 points from the Thursday (August 8) close. Only development bank sub-index and insurance sub-index saw an increment by 1.95 points and 13.92 points respectively. Hydro-power sub-index dropped the highest by 6.57 points closing at 1219.29 points with the fall on all the listed shares of hydro power companies. Total of 353,579 shares were traded from 1694 transactions during that day.</div>
<div>
	&nbsp;</div>',
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View::_evaluate() - CORE/Cake/View/View.php, line 971
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
Code Context
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		'Article' => array(
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			'title' => 'Gold Demand From India, China Could Hit Record 1,000 Tonnes Each In 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India&rsquo;s gold demand could reach a record 1,000 tonnes this year as consumers buy for the festival and wedding season in the second half, the World Gold Council said, which may scuttle the country&rsquo;s efforts to curb its imports and a trade deficit. Demand from China, which is on course to challenge India&rsquo;s position as the top gold consumer this year, could also soar to a record 1,000 tonnes in 2013, the WGC said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Strong physical buying from the world&rsquo;s biggest consumers, who account for nearly 60 per cent of global demand, will help prop up prices of the metal that have shed about 20 per cent this year after 12 consecutive annual gains. Consumer demand has however not been enough so far to compensate for a sharp drop in investor appetite this year, the WGC said in its quarterly report on Thursday. &nbsp;India, which wants to keep imports below 850 tonnes in 2013, has raised import taxes three times in eight months. On Wednesday, it banned overseas purchases of gold bars and coins to rein in dollar spending.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But the resilience in Indian demand has offset government efforts to curb imports, which revived in July after dropping in June. According to WGC, India&rsquo;s consumption of gold rose to 310 tonnes in the second quarter ended June, highest in the last 10 years, despite government curbs to restrict imports to rein in burgeoning current account deficit. Much of the demand was met by stocks that had been built up to healthy levels following the April price drop. Imports more than doubled to 338 tonnes in April-June of this calendar year, it said. Gold consumption stood at 181.1 tonnes in the same quarter last year.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We&rsquo;ve seen that demand is robust,&rdquo; Somasundaram PR, WGC&rsquo;s India managing director, told Reuters. &ldquo;Once the monsoon is over, rural incomes will rise and that will have its own impact on demand.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There are also a lot more marriage and festival dates in October and November in the fourth quarter,&rdquo; said Somasundaram, who estimated full-year demand between 900 tonnes to 1,000 tonnes for both India and China. Hitting the upper end of that range would be record annual consumption for both the countries, he said. The rural population accounts for about 60 per cent of gold demand in India, where the precious metal forms an essential part of a bride&rsquo;s dowry and is considered auspicious as a gift or offering at religious festivals. India&rsquo;s demand reached 566 tonnes in the first half of the year, a 50 per cent jump but still lower than China&rsquo;s 600 tonnes, the industry-funded WGC said in its report.</div>
<div>
	&nbsp;</div>
<div>
	Demand this year has been particularly strong as falling prices have prompted consumers across the world to buy bullion in the form of jewellery, bars and coins. Analysts say India&rsquo;s moves to curb imports have been unable to stifle demand, thus pushing local prices to around $50 an ounce above London spot prices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Record Buying in China&nbsp;</strong></div>
<div>
	China&rsquo;s gold-buying spree in the first six months of the year is likely to continue into the second half amid festivals and uncertainty about the economy, which has seen a slowdown in nine out of the past 10 quarters.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The falling gold price is key. But there are also other macroeconomic conditions that are pushing (the Chinese) to gold,&rdquo; said Albert Cheng, WGC&rsquo;s managing director for the Far East region. (Agencies)</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<h2>
		<strong>Appetite for Gold in Nepal Rising</strong></h2>
</div>
<div>
	The consumption of yellow metal among Nepali consumers has been following an increasing trend. According to Ministry of Finance (MoF), gold import in Nepal reached 5,807 kg which is worth Rs 26 billion in the fiscal year 2012-13.</div>
<div>
	&nbsp;</div>
<div>
	However, the import of gold was slightly down in the last FY compared to the whopping 5,900 kg in the FY 2011-12. &nbsp;Traders blame the quota system imposed by the government for the decline in the last fiscal year though their overall gold consumption outlook remains bullish. &ldquo;Our initial estimation shows that about 26 tonnes of gold will be consumed by the end of current FY in the domestic market,&rdquo; said Manik Ratna Shakya, general secretary of Nepal Gold and Silver Dealers Association (NEGOSIDA).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya informed that the average daily gold demand in the domestic market stands at 30 kg on average. &ldquo;The average daily demand in the marriage season stands around 35 kg. We&rsquo;ve witnessed the seasonal demand of gold up to 50 kg in the past,&rdquo; he mentioned. Shakya blamed the restrictions imposed on gold imports for the low quantity trade. &ldquo;The quota system has actually promoted illegal trade and it has some immediate impacts,&rdquo; he told The Corporate weekly, &ldquo;The government&rsquo;s revenue from gold import will decline and the remittance inflow will also suffer as migrant workers may buy gold abroad and send it here using informal channels due to the restrictions.&rdquo;</div>',
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			'description' => 'India’s gold demand could reach a record 1,000 tonnes this year as consumers buy for the festival and wedding season',
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	(int) 1 => array(
		'Article' => array(
			'id' => '1638',
			'article_category_id' => '134',
			'title' => 'Necessities Of Commercial Bench',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong style="font-size: 14px;"><img alt="Shreekant Poudel,the spokesperson of the Supreme Court." src="/userfiles/images/BK.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 175px; height: 224px;" />Shreekant Poudel</strong><span style="font-size: 14px;"> Is the spokesperson of the Supreme Court. In an interview with </span><strong style="font-size: 14px;">Britant Khanal</strong><span style="font-size: 14px;"> of The Corporate weekly he shed light on the introduction of commercial bench and its need.</span><strong style="font-size: 14px;"> Excerpts:</strong></div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you highlight the reason behind establishing the commercial bench?</strong></div>
<div>
	The first and foremost reason behind the establishment of this bench is the need for speedy justice, easy access and quick legal remedies for the commercial sector. Even more important is the demand made by the law in many acts after the second Jana Andolan. It is clearly mentioned that such and such cases will be dealt by the commercial bench like for instance in Section Z8 of the Company Act. After 2006, the World Bank had also suggested the requirement of such a bench. The Company Act, the Secured Transaction Act and other acts related to safe competition have mentioned the requirement of this bench. Was this issue initiated by ADB? I don&rsquo;t think so but the ADB had some general interest and it had recommended on bringing such a bench too.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What new prospects will the bench bring? Will it have the same old practices disguised as new?</strong></div>
<div>
	In the process of establishing this bench we had to and we still are training judges, judicial staffs and even lawyers. The training lasts from one to one-and-a-half months as per requirement. The judges who attend the training are only sent to the bench for hearing commercial cases. The new commercial bench will therefore slowly shed some old ways.</div>
<div>
	&nbsp;</div>
<div>
	<strong>There seems to be a paradox in the bench being established for the benefit of the commercial sector while the jurisdiction seems a bit scattered, vague and ambiguous. Could you talk a little about this? &nbsp; &nbsp;</strong></div>
<div>
	We are still in the starting phase of establishing the bench. As per my knowledge, the initial requirement was that of a separate commercial court which came down to establishing a commercial bench in appellate courts. This was required because cases related to the commercial sector are heard in a scattered manner. For example, cases of contract are first heard by the district court, that of patents are heard by the department of industry, and many cases are addressed by the Nepal Rastriya Bank (NRB) too. Therefore, a common institution to streamline all commercial cases and bring them under one umbrella seemed to be necessary.</div>
<div>
	&nbsp;</div>
<div>
	Home work is yet to be completed. It was rightly questioned whether or not offences in banking will be dealt by the commercial bench. The issue is still subject to research and analysis. There are other issues also like that of intellectual property and cases of revenue tribunal. So there is a lot to be done and we are striving to bring all of these cases under the commercial bench.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Has the bench been established in all appellate courts in the country?</strong></div>
<div>
	No, we have not established commercial benches in all appellate courts as they are established in a need-based manner. The previous chief justice had recommended the bench to be established in six places including Pokhara but later it was only established in four places. We therefore have established this bench in five places, Hetauda being the youngest which was established two years back and the other four are Biratnagar, Hetauda, Butwal, Nepalgunj and Patan.</div>
<div>
	<img alt="Cases Regarding Commercial Bench" src="/userfiles/images/cbnch.jpg" style="width: 500px; height: 235px;" /></div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#FFFFFF">
					<div>
						&nbsp;</div>
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Gandhi Pandit Advocate" src="/userfiles/images/GP.jpg" style="width: 200px; height: 250px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Gandhi Pandit</strong></div>
									<div>
										Advocate</div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						<h1 style="text-align: center;">
							&lsquo;We are still at the initial stage&rsquo;</h1>
						<div>
							<strong>What is your take on the commercial bench?</strong></div>
						<div>
							The judges must be competent to look at all kinds of cases, but frankly, that is not possible all the time because of growing trade issues in the domestic and global markets and because some of the cases are so sophisticated that they require specialised knowledge and high expertise is not available in the country. Smooth functioning of the economy will require a better legal system which will support rapid growth and development. Therefore, the present context demands a commercial bench to go in hand in hand with the pace of development in order to be able to forge a conducive environment for global as well as domestic investors.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Where can we trace the footprints of this system?</strong></div>
						<div>
							This system can be traced to the continental legal system, commonly understood as the French and German legal system. In these systems, we can see the trends of a commercial tribunal, a labour tribunal, an industrial tribunal, among others. In these kinds of tribunals the specialised skills of various sectors are brought for the better understanding of the case. And this system was later followed by Britain and the United States of America. Therefore, this pragmatic approach has led to speedy justice and quick legal remedies in these nations. But in our context, we are still lagging behind. Our judges are still traditional and are only specialised in traditional issues such as cases of land dispute, writ petition, etc. whereas we don&rsquo;t have expertise on cases like letter of credit, IT law, intellectual property law, cases of trademark and so on.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>What could be the possible remedy to such lacunae and paralysis?</strong></div>
						<div>
							Establishing the bench is one thing and effectiveness is another. As judges are frequently transferred to places without access to such knowledge, they will require training, and attending the training once will not make an impact as there has to be periodic training which we are lacking. Therefore the national judicial academy has been training judges but in the same traditional cases only. Not enough training has been provided in the field of modern commercial issues. Another major problem is procedural delay. These kinds of hurdles will further delay justice and so they will have to be reduced to a minimum. Such deficiencies in the system will give a very wrong message to foreign investors.</div>
					</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<p>
	&nbsp;</p>',
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			'description' => 'The first and foremost reason behind the establishment of this bench is the need for speedy justice, easy access and quick legal remedies for the commercial sector.',
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		'Article' => array(
			'id' => '1637',
			'article_category_id' => '122',
			'title' => 'A Leading Chain Of Hotels In Nepal Grows Bigger',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Rajan Sakya CEO, KGH Group" src="/userfiles/images/rajan(2).jpg" style="width: 175px; height: 192px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Rajan Sakya</strong></div>
				<div>
					CEO, KGH Group</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	The KGH Group has recently revamped rooms and interiors of its signature hotels, Park Village Hotel and Resorts and Kathmandu Guest House. According to Rajan Sakya, CEO of KGH Group, 60 rooms of five-star facility were added on each hotel in the year 2012. Sakya says that rooms were upgraded in accordance with the demand of clients and growing competition to offer quality service.</div>
<div>
	&nbsp;</div>
<div>
	Renovation work is also ongoing at Aqua Buzz Unlimited, a hotel located in Koshi. Sakya admits that the hotel is not doing impressive business at the moment but he is optimistic that Koshi will emerge as a tourism hub when the Banepa-Bardibas highway gets completed in the next two years. He says that the highway will shorten the distance between Koshi and Kathmandu and will increase tourist flow to the area.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Expansion Plans</span></strong></div>
<div>
	The KGH Group plans to add new properties to business in the years to come to their current line-up of eight hotels and three travel agencies. According to Sakya, the group is planning to establish two new hotels within the next two years. He says one will be in Kathmandu while the other will be in Koshi.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Karna Sakya, Founding President of the group wishes to see the business he established to be passed on to the future generation. Rajan Sakya, his youngest son also expresses commitment to continue the business and says, &ldquo;Tourism is the industry where we have expertise and long-time experience. The next generation will also be involved in the same field as we do not have any plans to venture into any other sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	When making plans for the future, young Sakya says that the overall business climate of Nepal makes it difficult to make long-term plans. So, he says the group has been only making plans for the short term.</div>
<div>
	&nbsp;</div>
<div>
	Sakya reveals that the group plans to streamline and standardise the quality of its services offered throughout the properties of the group as well as its management style. For this purpose, he says, the group is adopting a corporate model of running business that will centrally control all sister concerns it owns.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Clientele and Occupancy</span></strong></div>
<div>
	The morale of tourism entrepreneurs is getting a boost with the rise in tourist flow after the insurgency. Sakya is also content with the number of clients his chain of hotels has been able to attract. He says that the occupancy level has been satisfactory throughout the year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Sakya, Park Village Resort is primarily targeting conferences and seminars, and so 60 per cent of its clients are Nepalis while the rest are foreigners. Similarly, guests at the Kathmandu Guest House are mostly adventure tourists and it is an all-season hotel with 100 per cent foreign clients. Likewise, 80 per cent of clients at the group&rsquo;s hotels in Pokhara, Chitwan and Lumbini comprise of foreigners.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Management strategy</span></strong></div>
<div>
	The KGH Group has been operating under the family business model since Karna Sakya ventured into the tourism and hospitality sector almost 48 years ago. &ldquo;We are not running our business similar to a professionally managed five star hotel. &nbsp;Though we have professional hotel managers to look after a particular hotel, we have shouldered the responsibility of running the business and we are happy with this style because we believe we have the expertise and experience of several decades,&rdquo; explains Rajan Sakya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Sakyas, however, are planning to corporatise the group in the next one to two years. The group plans to set up a corporate head office in Kathmandu with a team headed by a General Manager. Sakya says that the corporate office will centrally control the accounts, internal audits and central purchasing. &ldquo;This model is being adopted to standardise the quality of services and products used across all the properties under the group,&rdquo; he says.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Human Resource Management</span></strong></div>
<div>
	The KGH Group has not only created employment for 650 to 700 people but also has been meeting a social responsibility in hiring employees. Sakya says that the group hires women under the shelter of Maiti Nepal, a non profit organisation dedicated to help victims of sex trafficking. As women from the organisation find it challenging to reintegrate into society after being rescued from brothels, the KGH group has tied up with Anuradha Koirala (Founder and Director of Maiti Nepal and also a winner of CNN Heroes of 2010) to provide them with job opportunities in all of its properties, says Sakya.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the group prioritises hiring employees from underprivileged groups and communities. Sakya says that the group gives preference to those who have returned after working abroad. He gives an example of a recent recruitment of 10 employees who had returned from the US and the UK. He also reveals that the employee turnover at the group is quite low and some of the employees have been with the company for even decades. &ldquo;We have maintained a very good relationship with employees and so, we do not have problems with the human resource management,&rdquo; he states about the company&rsquo;s relationship with its employees.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="KGH GROUP NEPAL" src="/userfiles/images/2a.jpg" style="width: 500px; height: 169px; margin-left: 25px; margin-right: 25px;" /></div>
<div>
	<hr />
	<div>
		<strong style="font-size: 14px;">The KGH journey</strong></div>
</div>
<div>
	The journey of the KGH Group began when Karna Sakya, Founding President of the group established Kathmandu Guest House in Thamel, 48 years ago. Sakya recalls that Thamel was nothing more than a paddy field then. Thamel, the tourist hub of today grew around the hotel which started with 13 rooms.</div>
<div>
	&nbsp;</div>
<div>
	Sakya, a government employee then, used to work at the department of forestry and was not satisfied with the working environment. &nbsp;Brought up in an affluent family, he never felt that he had to take up a job to make his living. A traveller himself, he says that one must be able to comprehend what tourists want in order to run a tourism business and adds: &ldquo;Tourism is a business of dreams and only a dreamer can delve deep into this sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	His expertise as a forester and environmentalist is reflected in the hotels of the group. He has always prioritised the harmony between buildings, nature and the culture of the locality where the hotel is built and it can be witnessed in any of the sister hotels of the group. Sakya says he never developed a property on a leased or government land and all land where hotels are built is owned by the group.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	When the country was at the peak of insurgency, the group never took a break. Rather it expanded into new projects and purchased land that helped it achieve success that it had never seen earlier.</div>
<div>
	&nbsp;</div>
<div>
	Today, the group has eight hotels and three travel agencies and is about to mark its golden jubilee in two years&rsquo; time</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#FFFFFF">
				<h2>
					Signature Hotels of the KGH Group</h2>
				<div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Park Village Hotel and Resort</span></strong></div>
					<div>
						<img alt="Park Village Hotel and Resort" src="/userfiles/images/park%20villafge.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 131px;" />This hotel spreads over 55 ropanis of land and is nestled in the foothills of Shivapuri National Park. Located just seven kilometres away from the heart of Kathmandu city, the hotel is so close to nature that it is regarded as a hotspot for bird watching, gorgeous scenery and harbours over 78 species of 3000 flowering plants. The hotel primarily targets conference clients and has seven conference halls and parking space for 80 vehicles. Similarly, it has 135 rooms, suites and service apartments of five star categories, swimming pool and spa among other luxurious amenities.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Kathmandu Guest House</span></strong></div>
					<div>
						<img alt="Kathmandu Guest House" src="/userfiles/images/kgh.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 132px;" />Kathmandu Guest House is the second largest hotel of the group that also preserves the architectural grandeur of a Rana palace intact along with ultra modern facilities. The hotel named one of the 300 most popular icon hotels in Asia by the Inside Guide in 2003 is famous among adventure tourists, writers, musicians and artists travelling Nepal. The hotel located at the heart of city, Thamel, has 150 rooms that cost from USD 30 to USD160 per night. Recently, the hotel has upgraded its rooms and interiors keeping the elegance and history of its architecture alive.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Waterfront Resort</span></strong></div>
					<div>
						The resort located on the banks of Fewa Lake in the popular tourist destination, Pokhara, is spread over 15 ropanis of land. The company claims that it is one of the best eco friendly hotels in Pokhara. The resort even has a rain harvesting system and waste water is recycled to be used in its gardens, according to the company. One of the newest ventures of the KGH Group, the resort offers unparalleled views of the lake and mountains. The resort with 60 rooms also offers a peaceful and homely environment.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Buddha Maya Garden Hotel</span></strong></div>
					<div>
						<img alt="Buddha Maya Garden Hotel" src="/userfiles/images/bmg.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 130px;" />The hotel is located just five minutes from the birth spot of Lord Buddha in Lumbini. The hotel spreads over nine bighas of land and has its garden full of indigenous Buddha era trees. Founder of the group, Karna Sakya&rsquo;s expertise in forestry and environment has inspired the landscape of the hotel in marrying art, culture and nature. It is one of the largest hotels in Lumbini with three and four star quality rooms.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Maruni Sanctuary Lodge</span></strong></div>
					<div>
						<img alt="Maruni Sanctuary Lodge" src="/userfiles/images/msl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 131px;" />Established in 2004 with 11 cottages, the hotel has now expanded into 37 huts. The hotel nestled on the edge of Chitwan National Park and just 10 minutes walk from Sauraha. All rooms are decorated in a unique traditional architecture with bamboo furniture, terra-cotta flooring and colourful ethnic Tharu paintings. The hotel also has its own wetland that attracts migratory birds, making it ideal for bird watching.</div>
					<div>
						&nbsp;</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
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			'description' => 'The KGH Group has recently revamped rooms and interiors of its signature hotels, Park Village Hotel and Resorts and Kathmandu Guest House.',
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			'id' => '1636',
			'article_category_id' => '160',
			'title' => 'Corptoon Issue 27',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-08-18',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Corptoon',
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			'title' => 'Middle Bhotekoshi To Start In December',
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			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The construction of the 102 MW Middle Bhotekoshi hydropower project in Sindhupalchowk district is all set to start in December. According to the Chief Manager of the project, Prakash Awasti, the process for selection of international consultant for the project is in the last phase. &ldquo;Within two months the evaluation of the tender will be done and construction will begin,&rdquo; he said. Awasthi informed that the project will be constructed under the engineering, procurement and construction (EPC) model. Middle Bhotekoshi is considered to be one of the major hydel projects of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Starting from 2013 the project is targeted for completion by 2016. &ldquo;There will be no problems from the local people for construction,&rdquo; informed Awasti. Madhya Bhotekoshi Jalbhidyut Company Ltd have already paid Rs 33.2 million to locals for land acquisition. The project has completed construction of the 250 meter long adit tunnel. Constructed under the Q-40 model, the project is expected to cost around Rs 14 billion. It is expected to generate 542.3 million units of electricity annually. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Financial management is already completed for the project. Out of the total amount of shares invested, 51 per cent will be from founding members and 49 per cent from public shares. The company has signed a Power Purchased Agreement (PPA) with the Nepal Electricity Authority (NEA) and has submitted its environment impact assessment (EIA) to the government. &ldquo;We already presented the paper to issue the power generation license,&rdquo; said Awasti. The project is also planning connect the generated electricity with the national transmission line by bringing it to a substation line in Barhabise.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The construction of the 102 MW Middle Bhotekoshi hydropower project in Sindhupalchowk district is all set to start in December.',
			'sortorder' => '1496',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1634',
			'article_category_id' => '91',
			'title' => 'Microfinance Stretching Arms In Financial Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma &amp; Yagya Banjade</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali Microfinance Institutions (MFIs) have been witnessing a sharp inflow of investment in recent months. Since the inception of Nirdhan Utthan Development Bank as the first MFI in the Nepali stock market in 2011, shares of such companies have been following a bullish trend. The continuous rise in the share price of MFIs listed in Nepal Stock Exchange (NEPSE) is seen to be the main causative factor.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The attraction of MFIs among investors is being caused due to various reasons. Experts share mixed viewpoints on this. According to some analysts, the below Rs 500 per share price level of a majority of listed microfinance banks is a main driving factor. Others point out to the loose policy announced by Nepal Rastra Bank (NRB) regarding MFIs in the monetary policy for the current fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Investing in MFIs is considered secure. Microcredit banks can commence their business with small amounts of capital and have less liability compared to larger financial institutions,&rsquo; said Dharmaraj Pandey, CEO of Paschimanchal Gramin Bikas Bank. &ldquo;Due to this, investment in MFIs carries less risk, giving good returns.&rdquo; Similarly, the fast-paced growth of the microcredit market and increasing investment of microfinance banks is also fuelling investor&rsquo;s attraction, according to Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Anjanraj Poudyal, former Chairman of Stock Brokers Association of Nepal (SEBAN) also agreed with Pandey. &ldquo;The number of MFIs listing in the stock exchange having competent promoters has significantly gone up in recent years which have helped attract more investment in this sector,&rdquo; Poudyal said. According to Poudyal, investment is coming from individuals as well as institutions. &ldquo;Some mutual funds are giving high priority to the shares of microfinance banks in their portfolio,&rdquo; he mentioned.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Investors are looking optimistic about their investments in MFIs. &ldquo;The directive given by NRB to banks and financial institutions for loan expansion to the impoverished people is ascending the demand of MFIs shares in the market, however the equilibrium of such demand and supply is not well balanced,&rdquo; mentioned an investor in the condition of anonymity. &ldquo;The earning per share (EPS) of many microfinance banks is better than some commercial banks,&rdquo; he added. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to official data, 31 microfinance banks, 15 microcredit co-operative and 31 microcredit non-government organisations (NGOs) are actively providing services throughout the country. In regard to this, the number of MFIs in stock exchange is gradually rising. The total number of shares of 11 microfinance banks listed in NEPSE reached 273.638 million towards the end of Shrawan. Out of the listed 11 banks, share transactions of three companies have been held back due to various reasons.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">&lsquo;Different category for MFIs in NEPSE needed&rsquo;</span></strong></div>
<div>
	Microfinance banks are placed in the development bank section of the NEPSE index. However, with the rising number, voices are being raised to separate microfinance banks from development banks in the share index. &ldquo;As the listing is constantly rising, separate group is needed for effective management of microcredit banks in the share index,&rdquo; SEBAN&rsquo;s former chairman Poudyal said.&nbsp;</div>
<div>
	&nbsp;</div>',
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			'description' => 'Nepali Microfinance Institutions (MFIs) have been witnessing a sharp inflow of investment in recent months.',
			'sortorder' => '1495',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1633',
			'article_category_id' => '91',
			'title' => 'FDI: More Promise, Less Work',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	The Nepal government&rsquo;s policy to allow foreign direct investment to improve Nepal&rsquo;s economic prospects has Lured foreign investors to come to Nepal to register joint ventures in various sectors, mainly the tourism and service sectors. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, they are yet to release funds to kick-start their projects. Economists and industrialists attribute the government&rsquo;s apathy and labour unrest behind foreign investors&rsquo; reluctance to start their ventures.</div>
<div>
	&nbsp;</div>
<div>
	The number of companies with joint ventures has increased. However, unlike what was anticipated, their investment has not contributed much to boost Nepal&rsquo;s economy.</div>
<div>
	&nbsp;</div>
<div>
	According to data from the Department of Industries (DoI), 300 joint ventures were registered with DoI by the end of FY 2012-13.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The total cost of these 300 projects amounts to Rs 32214.18 million, of which foreign investment has summed up to Rs 19398.14 million.</div>
<div>
	&nbsp;</div>
<div>
	Data shows that investors are most attracted towards the tourism sector followed by the service sector. Among those registered, 87 have been registered for the tourism sector, and 85 for the service sector. Foreign investors have a share of Rs 4525.03 million only in a total investment worth Rs 12417.2 million on 77 manufacturing industries registered at the DoI.</div>
<div>
	&nbsp;</div>
<div>
	Agriculture, Energy, Mineral and Construction are four other sectors among seven that have drawn foreign investment to Nepal in joint ventures. These sectors have promised Rs 852.01 million, Rs 2134 million, Rs 584 million and Rs 100 million, respectively, from foreign investors.</div>
<div>
	&nbsp;</div>
<div>
	The 300 ventures registered at the DoI estimate to create 14, 895 job opportunities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Among these registered projects, Chinese investors own the highest number of ventures among investors from 42 other countries to invest in Nepal. Their total investment amounts Rs 2627.40 million.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, in terms of volume, investors from the British Virgin Islands have the biggest figure of Rs 4497.40 million. This is followed by investment from Hongkong worth Rs 3070 million.</div>
<div>
	&nbsp;</div>
<div>
	However, all of these investors have not started their respective ventures. Dinesh Shrestha, Chairperson of the Industrial Department at Federation of Nepal Chambers of Commerce and Industry (FNCCI), blames the government for not forming a favourable policy towards prompting foreign investors to kick-start their ventures immediately. &ldquo;They are in a wait-and-watch-mood,&rdquo; he says, adding that the government should take a lead in inviting them to begin work.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;A favourable policy would mean drafting laws and formulating policies like the Foreign Direct Investment Act and the Special Economic Zone Act, among others,&rdquo; he explains.</div>
<div>
	&nbsp;</div>
<div>
	Asked why foreign investors are not much attracted to the manufacturing sectors, Shrestha argues that the pitiable conditions of manufacturing industries in Nepal might have signaled to them that investment in this sector will not have promising returns.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Our own national factories are on the verge of collapse; how can we expect foreigners come immediately and invest in sectors that have high risk?&rdquo; he questions. Shrestha, however, claims that foreign investors will start working as soon as the business environment will be in their favour.</div>
<div>
	&nbsp;</div>
<div>
	Prithvi Raj Ligal, former Vice-chairperson of the National Planning Commission, agrees with Shrestha. &ldquo;Labour unions, lack of foresight in the government, lack of consistent policies and the power crisis are also equally responsible for discouraging foreign investors to come and start their ventures immediately.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Foreign Investment Project in nepal" src="/userfiles/images/FDI1.jpg" style="width: 500px; height: 222px; margin-left: 25px; margin-right: 25px;" /></div>',
			'published' => true,
			'created' => '2013-08-18',
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			'description' => 'The Nepal government’s policy to allow foreign direct investment to improve Nepal’s economic prospects has Lured foreign investors to come to Nepal to register joint ventures in various sectors, mainly the tourism and service sectors.',
			'sortorder' => '1494',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1632',
			'article_category_id' => '48',
			'title' => 'New Budget's Growth Tricks',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Growth is what Nepal needs today. The recent budget for this fiscal year has aptly embodied this national aspiration. The very size of the budget has ballooned-up by almost forty percent compared to last year. Accordingly, the deficit gap, revenue targets, inflation estimates, government employees&#39; pay and many more have grown substantially. if you point to a few aspects like GDP growth projections and proposed capital expenditure, you must be an anti-democrat for sure. When majority of things are so rapidly growing, one should not bother about a few things that are in such declining trend.<br />
	<br />
	Besides, this budget has all ingredients to fuel growth. No sooner the budget declared that the government employees&#39; pay would be hiked by 18 percent plus straight one thousand bucks, the market has reenergized instantly.From vegetable venders to taxi drivers, grocers to airline operators, everybody has concrete plans to increase the prices, even before the salary-earners pocket their first added pay. The magic of this budget is: twenty percent increase in pay has the power to increase the price by at least forty percent.</p>
<p>
	As an axiom, the rise in prices is indeed the sign of growth and development. Look at the most expensive cities in the world, Tokyo, London, Moscow, Shanghai or Mumbai. They are developed because they are most expensive. Now Kathmandu can be a new candidate in that category, thus a developed city.<br />
	<br />
	We have some extra qualities to ensure growth and development, by using unique model of &#39;growth by price rise&#39;. No mechanism exists to control price and goods and service providers of all kinds have a free hand to fix their price and enforce cartels. Taxi drivers often bring the city to stand-still within hours if any regulators questions about their tampered fare meter and private water suppliers can stop the supply if authorities try to question about the potability of it. The only party that has to backdown invariably is the government. There are thousands of such examples which ensure prices in our country would only rise, and rise regardless of anything. This means, in other words, our growth and development is guaranteed.<br />
	<br />
	Just the talk of elections would provide an additional impetus to growth. Political parties will actively engage themselves in &#39;donation&#39; collection, while the businessmen and industrialists &#39;voluntarily&#39; set aside a big sum for the cause. That means they need to earn more by every possible means of black-marketing to hoarding. This the time the country sees a true business-friendly climate, when no business person is penalized or admonished for making arrangements of extra earnings.<br />
	<br />
	Elections have all other economic advantages. Donors come with offers of assistance in many forms -- cash, kinds, experts, observers, clergies and copies of bibles. Business activities in all sectors multiply, transports,hotels, goons, contract killers and armed robbers -- virtually everybody and everything will be hired by politicians and political parties to win the elections. Unemployment problem will be solved at once. That is the reason Nepal has taken up the technique of very often announcing the dates for elections but never actually holding them. From this experience, we can foretell that the proposed November elections will also be postponed for next April, so that Nepali economy can get double boost from the same elections fever.<br />
	<br />
	In any case, if we were to develop and grow, we must stop thinking about aspects of decrease, decline or fall..Those In any case, if we were to develop and grow, we must stop thinking about aspects of decrease, decline or fall. Those who don&#39;t believe in incremental thinking, they must be socially boycotted. Therefore, along with the salary of the government employees, the rate of grease money must be increased. Business people, transport operators and contractors must increase their costs. Government must increase the taxes; business community then increases the tax evasion. No matter whatever is increased, it is growth. That is the reason our finance minister is so sure, his budget will only develop the country. You just don&#39;t worry, which direction it grows, however.<br />
	&nbsp;</p>',
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			'keywords' => 'new business age no laughing matter news & articles, no laughing matter news & articles from new business age nepal, no laughing matter headlines from nepal,  current and latest no laughing matter news from nepal, economic news from nepal, nepali no laughing matter economic news and events,  ongoing',
			'description' => 'Growth is what Nepal needs today. The recent budget for this fiscal year has aptly embodied this national aspiration. The very size of the budget has ballooned-up by almost forty percent compared to last year. Accordingly, the deficit gap, revenue targets, inflation estimates, government employees' pay and many more have grown substantially. if you point to a few aspects like GDP growth projections and proposed capital expenditure, you must be an anti-democrat for sure.',
			'sortorder' => '1493',
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			'id' => '1631',
			'article_category_id' => '146',
			'title' => 'Visual Edit Issue 26',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-08-13',
			'modified' => '0000-00-00',
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			'description' => 'Visual Edit',
			'sortorder' => '1492',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1630',
			'article_category_id' => '108',
			'title' => 'Money Matters News In Brief (12 - 18 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;">S<img alt="Sanima Bank Ltd" src="/userfiles/images/SANIMA.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />anima at Ghorai &amp; Dhangadhi&nbsp;</span></strong></div>
<div>
	Sanima Bank Ltd (Sanima) has opened its 26th &amp; 27th branch at Ghorahi (Dang) and Dhangadhi. The Ghorahi branch was jointly inaugurated by Mahesh Ghimire, Director, Sanima Bank, and Hari Bansha Acharya, renowned artist and social activist of Nepal. Similarly, the Dhangadi branch was jointly inaugurated by Bharat Kumar Pokharel, Director, Sanima Bank, and Hari Bansha Acharya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Shine Resunga Development (SRD) Bank " src="/userfiles/images/SRD.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 19px;" />SRD New Share Certificate Distribution&nbsp;</span></strong></div>
<div>
	Shine Resunga Development (SRD) Bank Limited is distributing new share certificates to the shareholders of Shine Development Bank Limited and Resunga Bikas Bank Limited which merged to form SRD from August 2.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sunrise Bank" src="/userfiles/images/SUNRISE.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" /><img alt="CDSC" src="/userfiles/images/CDSC.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 32px; height: 24px;" />Sunrise Bank&rsquo;s Shares Dematerialized&nbsp;</span></strong></div>
<div>
	Sunrise Bank has joined Central Depository System and Clearing (CDSC) to get its shares dematerialized on August 6. CDSC signed an agreement with Sunrise Bank to dematerialize the company&rsquo;s 2,0150,000 units of shares. As per the agreement, the bank ISIN (International Securities Identification Number) code is NPE014A00008.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Himalayan Bank Ltd (HBL)" src="/userfiles/images/HBL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />HBL at Betrawati and Birtamod&nbsp;</span></strong></div>
<div>
	Prachanda Bahadur Shrestha, member of management team of Himalayan Bank Ltd (HBL) inaugurated bank&rsquo;s Betrawati Branch amidst a function on August 4. Similarly, Manoj Bahadur Shrestha, Chairman of HBL inaugurated bank&rsquo;s Birtamod Branch at Birtamod,amidst a function on August 7. With this, the bank now has 41 branches.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Mahakali Bikas Bank Ltd" src="/userfiles/images/MAHAKALI.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Mahakali at Belauri&nbsp;</span></strong></div>
<div>
	Mahakali Bikas Bank Ltd has opened its 4th branch at Belauri, Kanchanpur. The branch was inaugurated by Dr Gunakar Bhatta, Chief Manager, NRB, Dhangadhi branch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sindhu Bikas Bank Ltd " src="/userfiles/images/SINDHU.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" />Sindhu at Dolalaghat&nbsp;</span></strong></div>
<div>
	Sindhu Bikas Bank Ltd has opened its 5th branch at Dolalghat. The branch was inaugurated by chairman of bank, Rajendra Kumar Shrestha.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="NMB Bank Ltd" src="/userfiles/images/NMB(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />NMB at Rasuwa&nbsp;</span></strong></div>
<div>
	NMB Bank Ltd has opened its 25th branch at Rasuwa. The branch was inaugurated by CDO of Rasuwa District Basudev Ghimire.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Civil Bank" src="/userfiles/images/CIVIL.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 27px;" /><img alt="City Express" src="/userfiles/images/CITYEXPRESS.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 93px; height: 27px;" />Civil and City Tied-up&nbsp;</span></strong></div>
<div>
	Civil Bank has signed agreement with City Express Money Transfer to make remittance payment through the bank&acute;s outlets in different parts of the country. Chandra Tandan, MD of City Express and Kishore Maharjan, CEO of Civil Bank, signed the agreement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Siddhartha Development Bank (SDBL)" src="/userfiles/images/SDBL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" /><img alt=" Prabhu Money Transfer " src="/userfiles/images/PRABHU.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 81px; height: 29px;" />SDBL and Prabhu Tied-up&nbsp;</span></strong></div>
<div>
	Siddhartha Development Bank (SDBL) has signed agreement with Prabhu Money Transfer to make remittance payment through the bank&acute;s 18 branches spread across Nepal. Mahesh Sharma Dhakal, CEO of SDBL and Rameshwor Sapkota, DGM of Prabhu Money Transfer, signed the agreement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Kriti Capital &amp; Investments Ltd." src="/userfiles/images/KRITI.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Kriti Gets PMS License&nbsp;</span></strong></div>
<div>
	Securities Board of Nepal (Sebon) has issued a Portfolio Management Service (PMS) license to Kriti Capital &amp; Investments Ltd. Kriti is the 12th merchant banker to obtain a PMS license under Merchant Banking Regulations, 2008.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sanima Mai Hydropower Limited (SMHL) " src="/userfiles/images/SMHL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />SMHL Gets Grade 3 for its IPO&nbsp;</span></strong></div>
<div>
	The upcoming IPO of Sanima Mai Hydropower Limited (SMHL) has received Grade 3 rating from ICRA Nepal, indicating the company&rsquo;s average fundamentals. SMHL has proposed to float an IPO of 2,110,000 equity shares of face value Rs 100 each.</div>
<div>
	&nbsp;</div>',
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			'article_category_id' => '113',
			'title' => 'US Dollar Exchange Rate At Local Market ( 5 -11 August 2013)',
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			'description' => 'US Dollar Exchange Rate At Local Market',
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			'title' => 'Top Ten Losers (5 -11 August 2013)',
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			'description' => 'Top Ten Losers',
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			'title' => 'Weekly Gold And Silver Price (5 - 11 August 2013)',
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			'description' => 'Weekly Gold And Silver Price',
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			'title' => 'Top Ten Gainers (5 -11 August 2013)',
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			'description' => 'Top Ten Gainers',
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			'title' => 'Nepse Around 542',
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			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rashesh Vaidya</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepse index saw the bearish trend with a decline of 3.92 points during previous week. It had closed 546.55 on Sunday, 4thAugust (the first trading day of the week) and reached 542.63 at the close of Thursday, 8th August (the last trading day of the week). The market floor was open for five days.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the week, the hydro-power companies&rsquo; sub-index decreased the highest by 22.58 points closing at 1225.86 points. There were decline in the share prices of Arun Valley Hydropower Company and Butwal Power Company Ltd (BPCL) by Re 1 and Rs 8 per share respectively during the week. The share price of BPCL dropped by Rs 35 per share closing at Rs 882 which caused the drop in that sub-index by 30.49 points on Monday, 5th August.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The news of the conversion of the promoter shares of seven commercial banks hit the commercial bank sub-index during the week. The sub-index dropped by 6.20 points closing at 537.02 points. The impact of the news was clearly seen in the share price of NIC Asia Bank Limited (NICA) with a drop of Rs 20 per share. There was no change in manufacturing and processing sub-index and trading sub-index during the week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel sub-index saw the highest increment by 16.14 points closing at 668.19. The share price of the Soaltee Hotel Ltd reached to Rs 283 per share on Wednesday, 7th August. However, that dropped by Re 1 and closed at Rs 282 on Thursday.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shares of 126 companies were traded at Nepse during the week through 9,177 transactions amounting to Rs 676,115,847. The transaction amount of the week is 22.44 percent higher than that of earlier week. The total number of scrips traded was 2,071,930 which are less by 909,917 scrips than that of earlier week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NICA topped the list in terms of transaction amount (Rs 45,823,933) from 459 transactions. Nabil Balanced Fund-I topped in number of scrips traded during the week. Altogether 226,096 scrips of the fund were traded during the week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Commerz and Trust Bank Nepal was at the top on the basis of the number of transactions (1067).</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Sectorial Nepse Index" src="/userfiles/images/sectors(1).jpg" style="width: 550px; height: 150px;" /></div>
<div>
	<hr />
	<p>
		<strong><span style="font-size:14px;">Nepse on Sunday</span></strong></p>
</div>
<div>
	Nepse Index closed at 539.4 points on Sunday (August 11). The index dropped by 3.23 points from the Thursday (August 8) close. Only development bank sub-index and insurance sub-index saw an increment by 1.95 points and 13.92 points respectively. Hydro-power sub-index dropped the highest by 6.57 points closing at 1219.29 points with the fall on all the listed shares of hydro power companies. Total of 353,579 shares were traded from 1694 transactions during that day.</div>
<div>
	&nbsp;</div>',
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		'Article' => array(
			'id' => '1639',
			'article_category_id' => '137',
			'title' => 'Gold Demand From India, China Could Hit Record 1,000 Tonnes Each In 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India&rsquo;s gold demand could reach a record 1,000 tonnes this year as consumers buy for the festival and wedding season in the second half, the World Gold Council said, which may scuttle the country&rsquo;s efforts to curb its imports and a trade deficit. Demand from China, which is on course to challenge India&rsquo;s position as the top gold consumer this year, could also soar to a record 1,000 tonnes in 2013, the WGC said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Strong physical buying from the world&rsquo;s biggest consumers, who account for nearly 60 per cent of global demand, will help prop up prices of the metal that have shed about 20 per cent this year after 12 consecutive annual gains. Consumer demand has however not been enough so far to compensate for a sharp drop in investor appetite this year, the WGC said in its quarterly report on Thursday. &nbsp;India, which wants to keep imports below 850 tonnes in 2013, has raised import taxes three times in eight months. On Wednesday, it banned overseas purchases of gold bars and coins to rein in dollar spending.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But the resilience in Indian demand has offset government efforts to curb imports, which revived in July after dropping in June. According to WGC, India&rsquo;s consumption of gold rose to 310 tonnes in the second quarter ended June, highest in the last 10 years, despite government curbs to restrict imports to rein in burgeoning current account deficit. Much of the demand was met by stocks that had been built up to healthy levels following the April price drop. Imports more than doubled to 338 tonnes in April-June of this calendar year, it said. Gold consumption stood at 181.1 tonnes in the same quarter last year.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We&rsquo;ve seen that demand is robust,&rdquo; Somasundaram PR, WGC&rsquo;s India managing director, told Reuters. &ldquo;Once the monsoon is over, rural incomes will rise and that will have its own impact on demand.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There are also a lot more marriage and festival dates in October and November in the fourth quarter,&rdquo; said Somasundaram, who estimated full-year demand between 900 tonnes to 1,000 tonnes for both India and China. Hitting the upper end of that range would be record annual consumption for both the countries, he said. The rural population accounts for about 60 per cent of gold demand in India, where the precious metal forms an essential part of a bride&rsquo;s dowry and is considered auspicious as a gift or offering at religious festivals. India&rsquo;s demand reached 566 tonnes in the first half of the year, a 50 per cent jump but still lower than China&rsquo;s 600 tonnes, the industry-funded WGC said in its report.</div>
<div>
	&nbsp;</div>
<div>
	Demand this year has been particularly strong as falling prices have prompted consumers across the world to buy bullion in the form of jewellery, bars and coins. Analysts say India&rsquo;s moves to curb imports have been unable to stifle demand, thus pushing local prices to around $50 an ounce above London spot prices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Record Buying in China&nbsp;</strong></div>
<div>
	China&rsquo;s gold-buying spree in the first six months of the year is likely to continue into the second half amid festivals and uncertainty about the economy, which has seen a slowdown in nine out of the past 10 quarters.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The falling gold price is key. But there are also other macroeconomic conditions that are pushing (the Chinese) to gold,&rdquo; said Albert Cheng, WGC&rsquo;s managing director for the Far East region. (Agencies)</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<h2>
		<strong>Appetite for Gold in Nepal Rising</strong></h2>
</div>
<div>
	The consumption of yellow metal among Nepali consumers has been following an increasing trend. According to Ministry of Finance (MoF), gold import in Nepal reached 5,807 kg which is worth Rs 26 billion in the fiscal year 2012-13.</div>
<div>
	&nbsp;</div>
<div>
	However, the import of gold was slightly down in the last FY compared to the whopping 5,900 kg in the FY 2011-12. &nbsp;Traders blame the quota system imposed by the government for the decline in the last fiscal year though their overall gold consumption outlook remains bullish. &ldquo;Our initial estimation shows that about 26 tonnes of gold will be consumed by the end of current FY in the domestic market,&rdquo; said Manik Ratna Shakya, general secretary of Nepal Gold and Silver Dealers Association (NEGOSIDA).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya informed that the average daily gold demand in the domestic market stands at 30 kg on average. &ldquo;The average daily demand in the marriage season stands around 35 kg. We&rsquo;ve witnessed the seasonal demand of gold up to 50 kg in the past,&rdquo; he mentioned. Shakya blamed the restrictions imposed on gold imports for the low quantity trade. &ldquo;The quota system has actually promoted illegal trade and it has some immediate impacts,&rdquo; he told The Corporate weekly, &ldquo;The government&rsquo;s revenue from gold import will decline and the remittance inflow will also suffer as migrant workers may buy gold abroad and send it here using informal channels due to the restrictions.&rdquo;</div>',
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			'description' => 'India’s gold demand could reach a record 1,000 tonnes this year as consumers buy for the festival and wedding season',
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		'Article' => array(
			'id' => '1638',
			'article_category_id' => '134',
			'title' => 'Necessities Of Commercial Bench',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong style="font-size: 14px;"><img alt="Shreekant Poudel,the spokesperson of the Supreme Court." src="/userfiles/images/BK.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 175px; height: 224px;" />Shreekant Poudel</strong><span style="font-size: 14px;"> Is the spokesperson of the Supreme Court. In an interview with </span><strong style="font-size: 14px;">Britant Khanal</strong><span style="font-size: 14px;"> of The Corporate weekly he shed light on the introduction of commercial bench and its need.</span><strong style="font-size: 14px;"> Excerpts:</strong></div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you highlight the reason behind establishing the commercial bench?</strong></div>
<div>
	The first and foremost reason behind the establishment of this bench is the need for speedy justice, easy access and quick legal remedies for the commercial sector. Even more important is the demand made by the law in many acts after the second Jana Andolan. It is clearly mentioned that such and such cases will be dealt by the commercial bench like for instance in Section Z8 of the Company Act. After 2006, the World Bank had also suggested the requirement of such a bench. The Company Act, the Secured Transaction Act and other acts related to safe competition have mentioned the requirement of this bench. Was this issue initiated by ADB? I don&rsquo;t think so but the ADB had some general interest and it had recommended on bringing such a bench too.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What new prospects will the bench bring? Will it have the same old practices disguised as new?</strong></div>
<div>
	In the process of establishing this bench we had to and we still are training judges, judicial staffs and even lawyers. The training lasts from one to one-and-a-half months as per requirement. The judges who attend the training are only sent to the bench for hearing commercial cases. The new commercial bench will therefore slowly shed some old ways.</div>
<div>
	&nbsp;</div>
<div>
	<strong>There seems to be a paradox in the bench being established for the benefit of the commercial sector while the jurisdiction seems a bit scattered, vague and ambiguous. Could you talk a little about this? &nbsp; &nbsp;</strong></div>
<div>
	We are still in the starting phase of establishing the bench. As per my knowledge, the initial requirement was that of a separate commercial court which came down to establishing a commercial bench in appellate courts. This was required because cases related to the commercial sector are heard in a scattered manner. For example, cases of contract are first heard by the district court, that of patents are heard by the department of industry, and many cases are addressed by the Nepal Rastriya Bank (NRB) too. Therefore, a common institution to streamline all commercial cases and bring them under one umbrella seemed to be necessary.</div>
<div>
	&nbsp;</div>
<div>
	Home work is yet to be completed. It was rightly questioned whether or not offences in banking will be dealt by the commercial bench. The issue is still subject to research and analysis. There are other issues also like that of intellectual property and cases of revenue tribunal. So there is a lot to be done and we are striving to bring all of these cases under the commercial bench.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Has the bench been established in all appellate courts in the country?</strong></div>
<div>
	No, we have not established commercial benches in all appellate courts as they are established in a need-based manner. The previous chief justice had recommended the bench to be established in six places including Pokhara but later it was only established in four places. We therefore have established this bench in five places, Hetauda being the youngest which was established two years back and the other four are Biratnagar, Hetauda, Butwal, Nepalgunj and Patan.</div>
<div>
	<img alt="Cases Regarding Commercial Bench" src="/userfiles/images/cbnch.jpg" style="width: 500px; height: 235px;" /></div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#FFFFFF">
					<div>
						&nbsp;</div>
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Gandhi Pandit Advocate" src="/userfiles/images/GP.jpg" style="width: 200px; height: 250px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Gandhi Pandit</strong></div>
									<div>
										Advocate</div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						<h1 style="text-align: center;">
							&lsquo;We are still at the initial stage&rsquo;</h1>
						<div>
							<strong>What is your take on the commercial bench?</strong></div>
						<div>
							The judges must be competent to look at all kinds of cases, but frankly, that is not possible all the time because of growing trade issues in the domestic and global markets and because some of the cases are so sophisticated that they require specialised knowledge and high expertise is not available in the country. Smooth functioning of the economy will require a better legal system which will support rapid growth and development. Therefore, the present context demands a commercial bench to go in hand in hand with the pace of development in order to be able to forge a conducive environment for global as well as domestic investors.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Where can we trace the footprints of this system?</strong></div>
						<div>
							This system can be traced to the continental legal system, commonly understood as the French and German legal system. In these systems, we can see the trends of a commercial tribunal, a labour tribunal, an industrial tribunal, among others. In these kinds of tribunals the specialised skills of various sectors are brought for the better understanding of the case. And this system was later followed by Britain and the United States of America. Therefore, this pragmatic approach has led to speedy justice and quick legal remedies in these nations. But in our context, we are still lagging behind. Our judges are still traditional and are only specialised in traditional issues such as cases of land dispute, writ petition, etc. whereas we don&rsquo;t have expertise on cases like letter of credit, IT law, intellectual property law, cases of trademark and so on.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>What could be the possible remedy to such lacunae and paralysis?</strong></div>
						<div>
							Establishing the bench is one thing and effectiveness is another. As judges are frequently transferred to places without access to such knowledge, they will require training, and attending the training once will not make an impact as there has to be periodic training which we are lacking. Therefore the national judicial academy has been training judges but in the same traditional cases only. Not enough training has been provided in the field of modern commercial issues. Another major problem is procedural delay. These kinds of hurdles will further delay justice and so they will have to be reduced to a minimum. Such deficiencies in the system will give a very wrong message to foreign investors.</div>
					</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<p>
	&nbsp;</p>',
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			'id' => '1637',
			'article_category_id' => '122',
			'title' => 'A Leading Chain Of Hotels In Nepal Grows Bigger',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Rajan Sakya CEO, KGH Group" src="/userfiles/images/rajan(2).jpg" style="width: 175px; height: 192px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Rajan Sakya</strong></div>
				<div>
					CEO, KGH Group</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	The KGH Group has recently revamped rooms and interiors of its signature hotels, Park Village Hotel and Resorts and Kathmandu Guest House. According to Rajan Sakya, CEO of KGH Group, 60 rooms of five-star facility were added on each hotel in the year 2012. Sakya says that rooms were upgraded in accordance with the demand of clients and growing competition to offer quality service.</div>
<div>
	&nbsp;</div>
<div>
	Renovation work is also ongoing at Aqua Buzz Unlimited, a hotel located in Koshi. Sakya admits that the hotel is not doing impressive business at the moment but he is optimistic that Koshi will emerge as a tourism hub when the Banepa-Bardibas highway gets completed in the next two years. He says that the highway will shorten the distance between Koshi and Kathmandu and will increase tourist flow to the area.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Expansion Plans</span></strong></div>
<div>
	The KGH Group plans to add new properties to business in the years to come to their current line-up of eight hotels and three travel agencies. According to Sakya, the group is planning to establish two new hotels within the next two years. He says one will be in Kathmandu while the other will be in Koshi.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Karna Sakya, Founding President of the group wishes to see the business he established to be passed on to the future generation. Rajan Sakya, his youngest son also expresses commitment to continue the business and says, &ldquo;Tourism is the industry where we have expertise and long-time experience. The next generation will also be involved in the same field as we do not have any plans to venture into any other sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	When making plans for the future, young Sakya says that the overall business climate of Nepal makes it difficult to make long-term plans. So, he says the group has been only making plans for the short term.</div>
<div>
	&nbsp;</div>
<div>
	Sakya reveals that the group plans to streamline and standardise the quality of its services offered throughout the properties of the group as well as its management style. For this purpose, he says, the group is adopting a corporate model of running business that will centrally control all sister concerns it owns.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Clientele and Occupancy</span></strong></div>
<div>
	The morale of tourism entrepreneurs is getting a boost with the rise in tourist flow after the insurgency. Sakya is also content with the number of clients his chain of hotels has been able to attract. He says that the occupancy level has been satisfactory throughout the year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Sakya, Park Village Resort is primarily targeting conferences and seminars, and so 60 per cent of its clients are Nepalis while the rest are foreigners. Similarly, guests at the Kathmandu Guest House are mostly adventure tourists and it is an all-season hotel with 100 per cent foreign clients. Likewise, 80 per cent of clients at the group&rsquo;s hotels in Pokhara, Chitwan and Lumbini comprise of foreigners.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Management strategy</span></strong></div>
<div>
	The KGH Group has been operating under the family business model since Karna Sakya ventured into the tourism and hospitality sector almost 48 years ago. &ldquo;We are not running our business similar to a professionally managed five star hotel. &nbsp;Though we have professional hotel managers to look after a particular hotel, we have shouldered the responsibility of running the business and we are happy with this style because we believe we have the expertise and experience of several decades,&rdquo; explains Rajan Sakya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Sakyas, however, are planning to corporatise the group in the next one to two years. The group plans to set up a corporate head office in Kathmandu with a team headed by a General Manager. Sakya says that the corporate office will centrally control the accounts, internal audits and central purchasing. &ldquo;This model is being adopted to standardise the quality of services and products used across all the properties under the group,&rdquo; he says.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Human Resource Management</span></strong></div>
<div>
	The KGH Group has not only created employment for 650 to 700 people but also has been meeting a social responsibility in hiring employees. Sakya says that the group hires women under the shelter of Maiti Nepal, a non profit organisation dedicated to help victims of sex trafficking. As women from the organisation find it challenging to reintegrate into society after being rescued from brothels, the KGH group has tied up with Anuradha Koirala (Founder and Director of Maiti Nepal and also a winner of CNN Heroes of 2010) to provide them with job opportunities in all of its properties, says Sakya.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the group prioritises hiring employees from underprivileged groups and communities. Sakya says that the group gives preference to those who have returned after working abroad. He gives an example of a recent recruitment of 10 employees who had returned from the US and the UK. He also reveals that the employee turnover at the group is quite low and some of the employees have been with the company for even decades. &ldquo;We have maintained a very good relationship with employees and so, we do not have problems with the human resource management,&rdquo; he states about the company&rsquo;s relationship with its employees.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="KGH GROUP NEPAL" src="/userfiles/images/2a.jpg" style="width: 500px; height: 169px; margin-left: 25px; margin-right: 25px;" /></div>
<div>
	<hr />
	<div>
		<strong style="font-size: 14px;">The KGH journey</strong></div>
</div>
<div>
	The journey of the KGH Group began when Karna Sakya, Founding President of the group established Kathmandu Guest House in Thamel, 48 years ago. Sakya recalls that Thamel was nothing more than a paddy field then. Thamel, the tourist hub of today grew around the hotel which started with 13 rooms.</div>
<div>
	&nbsp;</div>
<div>
	Sakya, a government employee then, used to work at the department of forestry and was not satisfied with the working environment. &nbsp;Brought up in an affluent family, he never felt that he had to take up a job to make his living. A traveller himself, he says that one must be able to comprehend what tourists want in order to run a tourism business and adds: &ldquo;Tourism is a business of dreams and only a dreamer can delve deep into this sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	His expertise as a forester and environmentalist is reflected in the hotels of the group. He has always prioritised the harmony between buildings, nature and the culture of the locality where the hotel is built and it can be witnessed in any of the sister hotels of the group. Sakya says he never developed a property on a leased or government land and all land where hotels are built is owned by the group.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	When the country was at the peak of insurgency, the group never took a break. Rather it expanded into new projects and purchased land that helped it achieve success that it had never seen earlier.</div>
<div>
	&nbsp;</div>
<div>
	Today, the group has eight hotels and three travel agencies and is about to mark its golden jubilee in two years&rsquo; time</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#FFFFFF">
				<h2>
					Signature Hotels of the KGH Group</h2>
				<div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Park Village Hotel and Resort</span></strong></div>
					<div>
						<img alt="Park Village Hotel and Resort" src="/userfiles/images/park%20villafge.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 131px;" />This hotel spreads over 55 ropanis of land and is nestled in the foothills of Shivapuri National Park. Located just seven kilometres away from the heart of Kathmandu city, the hotel is so close to nature that it is regarded as a hotspot for bird watching, gorgeous scenery and harbours over 78 species of 3000 flowering plants. The hotel primarily targets conference clients and has seven conference halls and parking space for 80 vehicles. Similarly, it has 135 rooms, suites and service apartments of five star categories, swimming pool and spa among other luxurious amenities.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Kathmandu Guest House</span></strong></div>
					<div>
						<img alt="Kathmandu Guest House" src="/userfiles/images/kgh.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 132px;" />Kathmandu Guest House is the second largest hotel of the group that also preserves the architectural grandeur of a Rana palace intact along with ultra modern facilities. The hotel named one of the 300 most popular icon hotels in Asia by the Inside Guide in 2003 is famous among adventure tourists, writers, musicians and artists travelling Nepal. The hotel located at the heart of city, Thamel, has 150 rooms that cost from USD 30 to USD160 per night. Recently, the hotel has upgraded its rooms and interiors keeping the elegance and history of its architecture alive.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Waterfront Resort</span></strong></div>
					<div>
						The resort located on the banks of Fewa Lake in the popular tourist destination, Pokhara, is spread over 15 ropanis of land. The company claims that it is one of the best eco friendly hotels in Pokhara. The resort even has a rain harvesting system and waste water is recycled to be used in its gardens, according to the company. One of the newest ventures of the KGH Group, the resort offers unparalleled views of the lake and mountains. The resort with 60 rooms also offers a peaceful and homely environment.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Buddha Maya Garden Hotel</span></strong></div>
					<div>
						<img alt="Buddha Maya Garden Hotel" src="/userfiles/images/bmg.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 130px;" />The hotel is located just five minutes from the birth spot of Lord Buddha in Lumbini. The hotel spreads over nine bighas of land and has its garden full of indigenous Buddha era trees. Founder of the group, Karna Sakya&rsquo;s expertise in forestry and environment has inspired the landscape of the hotel in marrying art, culture and nature. It is one of the largest hotels in Lumbini with three and four star quality rooms.</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						&nbsp;</div>
					<div>
						<strong><span style="font-size:14px;">Maruni Sanctuary Lodge</span></strong></div>
					<div>
						<img alt="Maruni Sanctuary Lodge" src="/userfiles/images/msl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 131px;" />Established in 2004 with 11 cottages, the hotel has now expanded into 37 huts. The hotel nestled on the edge of Chitwan National Park and just 10 minutes walk from Sauraha. All rooms are decorated in a unique traditional architecture with bamboo furniture, terra-cotta flooring and colourful ethnic Tharu paintings. The hotel also has its own wetland that attracts migratory birds, making it ideal for bird watching.</div>
					<div>
						&nbsp;</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
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			'modified' => '2013-09-19',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The KGH Group has recently revamped rooms and interiors of its signature hotels, Park Village Hotel and Resorts and Kathmandu Guest House.',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1636',
			'article_category_id' => '160',
			'title' => 'Corptoon Issue 27',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-08-18',
			'modified' => '0000-00-00',
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			'description' => 'Corptoon',
			'sortorder' => '1497',
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		'Article' => array(
			'id' => '1635',
			'article_category_id' => '91',
			'title' => 'Middle Bhotekoshi To Start In December',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The construction of the 102 MW Middle Bhotekoshi hydropower project in Sindhupalchowk district is all set to start in December. According to the Chief Manager of the project, Prakash Awasti, the process for selection of international consultant for the project is in the last phase. &ldquo;Within two months the evaluation of the tender will be done and construction will begin,&rdquo; he said. Awasthi informed that the project will be constructed under the engineering, procurement and construction (EPC) model. Middle Bhotekoshi is considered to be one of the major hydel projects of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Starting from 2013 the project is targeted for completion by 2016. &ldquo;There will be no problems from the local people for construction,&rdquo; informed Awasti. Madhya Bhotekoshi Jalbhidyut Company Ltd have already paid Rs 33.2 million to locals for land acquisition. The project has completed construction of the 250 meter long adit tunnel. Constructed under the Q-40 model, the project is expected to cost around Rs 14 billion. It is expected to generate 542.3 million units of electricity annually. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Financial management is already completed for the project. Out of the total amount of shares invested, 51 per cent will be from founding members and 49 per cent from public shares. The company has signed a Power Purchased Agreement (PPA) with the Nepal Electricity Authority (NEA) and has submitted its environment impact assessment (EIA) to the government. &ldquo;We already presented the paper to issue the power generation license,&rdquo; said Awasti. The project is also planning connect the generated electricity with the national transmission line by bringing it to a substation line in Barhabise.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The construction of the 102 MW Middle Bhotekoshi hydropower project in Sindhupalchowk district is all set to start in December.',
			'sortorder' => '1496',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1634',
			'article_category_id' => '91',
			'title' => 'Microfinance Stretching Arms In Financial Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma &amp; Yagya Banjade</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali Microfinance Institutions (MFIs) have been witnessing a sharp inflow of investment in recent months. Since the inception of Nirdhan Utthan Development Bank as the first MFI in the Nepali stock market in 2011, shares of such companies have been following a bullish trend. The continuous rise in the share price of MFIs listed in Nepal Stock Exchange (NEPSE) is seen to be the main causative factor.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The attraction of MFIs among investors is being caused due to various reasons. Experts share mixed viewpoints on this. According to some analysts, the below Rs 500 per share price level of a majority of listed microfinance banks is a main driving factor. Others point out to the loose policy announced by Nepal Rastra Bank (NRB) regarding MFIs in the monetary policy for the current fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Investing in MFIs is considered secure. Microcredit banks can commence their business with small amounts of capital and have less liability compared to larger financial institutions,&rsquo; said Dharmaraj Pandey, CEO of Paschimanchal Gramin Bikas Bank. &ldquo;Due to this, investment in MFIs carries less risk, giving good returns.&rdquo; Similarly, the fast-paced growth of the microcredit market and increasing investment of microfinance banks is also fuelling investor&rsquo;s attraction, according to Pandey.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Anjanraj Poudyal, former Chairman of Stock Brokers Association of Nepal (SEBAN) also agreed with Pandey. &ldquo;The number of MFIs listing in the stock exchange having competent promoters has significantly gone up in recent years which have helped attract more investment in this sector,&rdquo; Poudyal said. According to Poudyal, investment is coming from individuals as well as institutions. &ldquo;Some mutual funds are giving high priority to the shares of microfinance banks in their portfolio,&rdquo; he mentioned.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Investors are looking optimistic about their investments in MFIs. &ldquo;The directive given by NRB to banks and financial institutions for loan expansion to the impoverished people is ascending the demand of MFIs shares in the market, however the equilibrium of such demand and supply is not well balanced,&rdquo; mentioned an investor in the condition of anonymity. &ldquo;The earning per share (EPS) of many microfinance banks is better than some commercial banks,&rdquo; he added. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to official data, 31 microfinance banks, 15 microcredit co-operative and 31 microcredit non-government organisations (NGOs) are actively providing services throughout the country. In regard to this, the number of MFIs in stock exchange is gradually rising. The total number of shares of 11 microfinance banks listed in NEPSE reached 273.638 million towards the end of Shrawan. Out of the listed 11 banks, share transactions of three companies have been held back due to various reasons.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">&lsquo;Different category for MFIs in NEPSE needed&rsquo;</span></strong></div>
<div>
	Microfinance banks are placed in the development bank section of the NEPSE index. However, with the rising number, voices are being raised to separate microfinance banks from development banks in the share index. &ldquo;As the listing is constantly rising, separate group is needed for effective management of microcredit banks in the share index,&rdquo; SEBAN&rsquo;s former chairman Poudyal said.&nbsp;</div>
<div>
	&nbsp;</div>',
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			'description' => 'Nepali Microfinance Institutions (MFIs) have been witnessing a sharp inflow of investment in recent months.',
			'sortorder' => '1495',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1633',
			'article_category_id' => '91',
			'title' => 'FDI: More Promise, Less Work',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	The Nepal government&rsquo;s policy to allow foreign direct investment to improve Nepal&rsquo;s economic prospects has Lured foreign investors to come to Nepal to register joint ventures in various sectors, mainly the tourism and service sectors. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, they are yet to release funds to kick-start their projects. Economists and industrialists attribute the government&rsquo;s apathy and labour unrest behind foreign investors&rsquo; reluctance to start their ventures.</div>
<div>
	&nbsp;</div>
<div>
	The number of companies with joint ventures has increased. However, unlike what was anticipated, their investment has not contributed much to boost Nepal&rsquo;s economy.</div>
<div>
	&nbsp;</div>
<div>
	According to data from the Department of Industries (DoI), 300 joint ventures were registered with DoI by the end of FY 2012-13.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The total cost of these 300 projects amounts to Rs 32214.18 million, of which foreign investment has summed up to Rs 19398.14 million.</div>
<div>
	&nbsp;</div>
<div>
	Data shows that investors are most attracted towards the tourism sector followed by the service sector. Among those registered, 87 have been registered for the tourism sector, and 85 for the service sector. Foreign investors have a share of Rs 4525.03 million only in a total investment worth Rs 12417.2 million on 77 manufacturing industries registered at the DoI.</div>
<div>
	&nbsp;</div>
<div>
	Agriculture, Energy, Mineral and Construction are four other sectors among seven that have drawn foreign investment to Nepal in joint ventures. These sectors have promised Rs 852.01 million, Rs 2134 million, Rs 584 million and Rs 100 million, respectively, from foreign investors.</div>
<div>
	&nbsp;</div>
<div>
	The 300 ventures registered at the DoI estimate to create 14, 895 job opportunities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Among these registered projects, Chinese investors own the highest number of ventures among investors from 42 other countries to invest in Nepal. Their total investment amounts Rs 2627.40 million.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, in terms of volume, investors from the British Virgin Islands have the biggest figure of Rs 4497.40 million. This is followed by investment from Hongkong worth Rs 3070 million.</div>
<div>
	&nbsp;</div>
<div>
	However, all of these investors have not started their respective ventures. Dinesh Shrestha, Chairperson of the Industrial Department at Federation of Nepal Chambers of Commerce and Industry (FNCCI), blames the government for not forming a favourable policy towards prompting foreign investors to kick-start their ventures immediately. &ldquo;They are in a wait-and-watch-mood,&rdquo; he says, adding that the government should take a lead in inviting them to begin work.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;A favourable policy would mean drafting laws and formulating policies like the Foreign Direct Investment Act and the Special Economic Zone Act, among others,&rdquo; he explains.</div>
<div>
	&nbsp;</div>
<div>
	Asked why foreign investors are not much attracted to the manufacturing sectors, Shrestha argues that the pitiable conditions of manufacturing industries in Nepal might have signaled to them that investment in this sector will not have promising returns.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Our own national factories are on the verge of collapse; how can we expect foreigners come immediately and invest in sectors that have high risk?&rdquo; he questions. Shrestha, however, claims that foreign investors will start working as soon as the business environment will be in their favour.</div>
<div>
	&nbsp;</div>
<div>
	Prithvi Raj Ligal, former Vice-chairperson of the National Planning Commission, agrees with Shrestha. &ldquo;Labour unions, lack of foresight in the government, lack of consistent policies and the power crisis are also equally responsible for discouraging foreign investors to come and start their ventures immediately.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Foreign Investment Project in nepal" src="/userfiles/images/FDI1.jpg" style="width: 500px; height: 222px; margin-left: 25px; margin-right: 25px;" /></div>',
			'published' => true,
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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' => 'The Nepal government’s policy to allow foreign direct investment to improve Nepal’s economic prospects has Lured foreign investors to come to Nepal to register joint ventures in various sectors, mainly the tourism and service sectors.',
			'sortorder' => '1494',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1632',
			'article_category_id' => '48',
			'title' => 'New Budget's Growth Tricks',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Growth is what Nepal needs today. The recent budget for this fiscal year has aptly embodied this national aspiration. The very size of the budget has ballooned-up by almost forty percent compared to last year. Accordingly, the deficit gap, revenue targets, inflation estimates, government employees&#39; pay and many more have grown substantially. if you point to a few aspects like GDP growth projections and proposed capital expenditure, you must be an anti-democrat for sure. When majority of things are so rapidly growing, one should not bother about a few things that are in such declining trend.<br />
	<br />
	Besides, this budget has all ingredients to fuel growth. No sooner the budget declared that the government employees&#39; pay would be hiked by 18 percent plus straight one thousand bucks, the market has reenergized instantly.From vegetable venders to taxi drivers, grocers to airline operators, everybody has concrete plans to increase the prices, even before the salary-earners pocket their first added pay. The magic of this budget is: twenty percent increase in pay has the power to increase the price by at least forty percent.</p>
<p>
	As an axiom, the rise in prices is indeed the sign of growth and development. Look at the most expensive cities in the world, Tokyo, London, Moscow, Shanghai or Mumbai. They are developed because they are most expensive. Now Kathmandu can be a new candidate in that category, thus a developed city.<br />
	<br />
	We have some extra qualities to ensure growth and development, by using unique model of &#39;growth by price rise&#39;. No mechanism exists to control price and goods and service providers of all kinds have a free hand to fix their price and enforce cartels. Taxi drivers often bring the city to stand-still within hours if any regulators questions about their tampered fare meter and private water suppliers can stop the supply if authorities try to question about the potability of it. The only party that has to backdown invariably is the government. There are thousands of such examples which ensure prices in our country would only rise, and rise regardless of anything. This means, in other words, our growth and development is guaranteed.<br />
	<br />
	Just the talk of elections would provide an additional impetus to growth. Political parties will actively engage themselves in &#39;donation&#39; collection, while the businessmen and industrialists &#39;voluntarily&#39; set aside a big sum for the cause. That means they need to earn more by every possible means of black-marketing to hoarding. This the time the country sees a true business-friendly climate, when no business person is penalized or admonished for making arrangements of extra earnings.<br />
	<br />
	Elections have all other economic advantages. Donors come with offers of assistance in many forms -- cash, kinds, experts, observers, clergies and copies of bibles. Business activities in all sectors multiply, transports,hotels, goons, contract killers and armed robbers -- virtually everybody and everything will be hired by politicians and political parties to win the elections. Unemployment problem will be solved at once. That is the reason Nepal has taken up the technique of very often announcing the dates for elections but never actually holding them. From this experience, we can foretell that the proposed November elections will also be postponed for next April, so that Nepali economy can get double boost from the same elections fever.<br />
	<br />
	In any case, if we were to develop and grow, we must stop thinking about aspects of decrease, decline or fall..Those In any case, if we were to develop and grow, we must stop thinking about aspects of decrease, decline or fall. Those who don&#39;t believe in incremental thinking, they must be socially boycotted. Therefore, along with the salary of the government employees, the rate of grease money must be increased. Business people, transport operators and contractors must increase their costs. Government must increase the taxes; business community then increases the tax evasion. No matter whatever is increased, it is growth. That is the reason our finance minister is so sure, his budget will only develop the country. You just don&#39;t worry, which direction it grows, however.<br />
	&nbsp;</p>',
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			'description' => 'Growth is what Nepal needs today. The recent budget for this fiscal year has aptly embodied this national aspiration. The very size of the budget has ballooned-up by almost forty percent compared to last year. Accordingly, the deficit gap, revenue targets, inflation estimates, government employees' pay and many more have grown substantially. if you point to a few aspects like GDP growth projections and proposed capital expenditure, you must be an anti-democrat for sure.',
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			'article_category_id' => '146',
			'title' => 'Visual Edit Issue 26',
			'sub_title' => '',
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			'content' => '',
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			'created' => '2013-08-13',
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			'description' => 'Visual Edit',
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		'Article' => array(
			'id' => '1630',
			'article_category_id' => '108',
			'title' => 'Money Matters News In Brief (12 - 18 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;">S<img alt="Sanima Bank Ltd" src="/userfiles/images/SANIMA.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 13px;" />anima at Ghorai &amp; Dhangadhi&nbsp;</span></strong></div>
<div>
	Sanima Bank Ltd (Sanima) has opened its 26th &amp; 27th branch at Ghorahi (Dang) and Dhangadhi. The Ghorahi branch was jointly inaugurated by Mahesh Ghimire, Director, Sanima Bank, and Hari Bansha Acharya, renowned artist and social activist of Nepal. Similarly, the Dhangadi branch was jointly inaugurated by Bharat Kumar Pokharel, Director, Sanima Bank, and Hari Bansha Acharya.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Shine Resunga Development (SRD) Bank " src="/userfiles/images/SRD.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 19px;" />SRD New Share Certificate Distribution&nbsp;</span></strong></div>
<div>
	Shine Resunga Development (SRD) Bank Limited is distributing new share certificates to the shareholders of Shine Development Bank Limited and Resunga Bikas Bank Limited which merged to form SRD from August 2.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sunrise Bank" src="/userfiles/images/SUNRISE.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 24px;" /><img alt="CDSC" src="/userfiles/images/CDSC.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 32px; height: 24px;" />Sunrise Bank&rsquo;s Shares Dematerialized&nbsp;</span></strong></div>
<div>
	Sunrise Bank has joined Central Depository System and Clearing (CDSC) to get its shares dematerialized on August 6. CDSC signed an agreement with Sunrise Bank to dematerialize the company&rsquo;s 2,0150,000 units of shares. As per the agreement, the bank ISIN (International Securities Identification Number) code is NPE014A00008.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Himalayan Bank Ltd (HBL)" src="/userfiles/images/HBL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />HBL at Betrawati and Birtamod&nbsp;</span></strong></div>
<div>
	Prachanda Bahadur Shrestha, member of management team of Himalayan Bank Ltd (HBL) inaugurated bank&rsquo;s Betrawati Branch amidst a function on August 4. Similarly, Manoj Bahadur Shrestha, Chairman of HBL inaugurated bank&rsquo;s Birtamod Branch at Birtamod,amidst a function on August 7. With this, the bank now has 41 branches.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Mahakali Bikas Bank Ltd" src="/userfiles/images/MAHAKALI.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 22px;" />Mahakali at Belauri&nbsp;</span></strong></div>
<div>
	Mahakali Bikas Bank Ltd has opened its 4th branch at Belauri, Kanchanpur. The branch was inaugurated by Dr Gunakar Bhatta, Chief Manager, NRB, Dhangadhi branch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sindhu Bikas Bank Ltd " src="/userfiles/images/SINDHU.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" />Sindhu at Dolalaghat&nbsp;</span></strong></div>
<div>
	Sindhu Bikas Bank Ltd has opened its 5th branch at Dolalghat. The branch was inaugurated by chairman of bank, Rajendra Kumar Shrestha.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="NMB Bank Ltd" src="/userfiles/images/NMB(1).jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 33px;" />NMB at Rasuwa&nbsp;</span></strong></div>
<div>
	NMB Bank Ltd has opened its 25th branch at Rasuwa. The branch was inaugurated by CDO of Rasuwa District Basudev Ghimire.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Civil Bank" src="/userfiles/images/CIVIL.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 27px;" /><img alt="City Express" src="/userfiles/images/CITYEXPRESS.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 93px; height: 27px;" />Civil and City Tied-up&nbsp;</span></strong></div>
<div>
	Civil Bank has signed agreement with City Express Money Transfer to make remittance payment through the bank&acute;s outlets in different parts of the country. Chandra Tandan, MD of City Express and Kishore Maharjan, CEO of Civil Bank, signed the agreement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Siddhartha Development Bank (SDBL)" src="/userfiles/images/SDBL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 29px;" /><img alt=" Prabhu Money Transfer " src="/userfiles/images/PRABHU.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 81px; height: 29px;" />SDBL and Prabhu Tied-up&nbsp;</span></strong></div>
<div>
	Siddhartha Development Bank (SDBL) has signed agreement with Prabhu Money Transfer to make remittance payment through the bank&acute;s 18 branches spread across Nepal. Mahesh Sharma Dhakal, CEO of SDBL and Rameshwor Sapkota, DGM of Prabhu Money Transfer, signed the agreement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Kriti Capital &amp; Investments Ltd." src="/userfiles/images/KRITI.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 25px;" />Kriti Gets PMS License&nbsp;</span></strong></div>
<div>
	Securities Board of Nepal (Sebon) has issued a Portfolio Management Service (PMS) license to Kriti Capital &amp; Investments Ltd. Kriti is the 12th merchant banker to obtain a PMS license under Merchant Banking Regulations, 2008.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Sanima Mai Hydropower Limited (SMHL) " src="/userfiles/images/SMHL.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 100px; height: 50px;" />SMHL Gets Grade 3 for its IPO&nbsp;</span></strong></div>
<div>
	The upcoming IPO of Sanima Mai Hydropower Limited (SMHL) has received Grade 3 rating from ICRA Nepal, indicating the company&rsquo;s average fundamentals. SMHL has proposed to float an IPO of 2,110,000 equity shares of face value Rs 100 each.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Sanima Bank Ltd (Sanima) has opened its 26th & 27th branch at Ghorahi (Dang) and Dhangadhi.',
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			'title' => 'Top Ten Losers (5 -11 August 2013)',
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			'description' => 'Top Ten Losers',
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			'description' => 'Weekly Gold And Silver Price',
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			'description' => 'Top Ten Gainers',
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			'title' => 'Nepse Around 542',
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			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rashesh Vaidya</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepse index saw the bearish trend with a decline of 3.92 points during previous week. It had closed 546.55 on Sunday, 4thAugust (the first trading day of the week) and reached 542.63 at the close of Thursday, 8th August (the last trading day of the week). The market floor was open for five days.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the week, the hydro-power companies&rsquo; sub-index decreased the highest by 22.58 points closing at 1225.86 points. There were decline in the share prices of Arun Valley Hydropower Company and Butwal Power Company Ltd (BPCL) by Re 1 and Rs 8 per share respectively during the week. The share price of BPCL dropped by Rs 35 per share closing at Rs 882 which caused the drop in that sub-index by 30.49 points on Monday, 5th August.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The news of the conversion of the promoter shares of seven commercial banks hit the commercial bank sub-index during the week. The sub-index dropped by 6.20 points closing at 537.02 points. The impact of the news was clearly seen in the share price of NIC Asia Bank Limited (NICA) with a drop of Rs 20 per share. There was no change in manufacturing and processing sub-index and trading sub-index during the week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel sub-index saw the highest increment by 16.14 points closing at 668.19. The share price of the Soaltee Hotel Ltd reached to Rs 283 per share on Wednesday, 7th August. However, that dropped by Re 1 and closed at Rs 282 on Thursday.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shares of 126 companies were traded at Nepse during the week through 9,177 transactions amounting to Rs 676,115,847. The transaction amount of the week is 22.44 percent higher than that of earlier week. The total number of scrips traded was 2,071,930 which are less by 909,917 scrips than that of earlier week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	NICA topped the list in terms of transaction amount (Rs 45,823,933) from 459 transactions. Nabil Balanced Fund-I topped in number of scrips traded during the week. Altogether 226,096 scrips of the fund were traded during the week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Commerz and Trust Bank Nepal was at the top on the basis of the number of transactions (1067).</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Sectorial Nepse Index" src="/userfiles/images/sectors(1).jpg" style="width: 550px; height: 150px;" /></div>
<div>
	<hr />
	<p>
		<strong><span style="font-size:14px;">Nepse on Sunday</span></strong></p>
</div>
<div>
	Nepse Index closed at 539.4 points on Sunday (August 11). The index dropped by 3.23 points from the Thursday (August 8) close. Only development bank sub-index and insurance sub-index saw an increment by 1.95 points and 13.92 points respectively. Hydro-power sub-index dropped the highest by 6.57 points closing at 1219.29 points with the fall on all the listed shares of hydro power companies. Total of 353,579 shares were traded from 1694 transactions during that day.</div>
<div>
	&nbsp;</div>',
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