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		'Article' => array(
			'id' => '1594',
			'article_category_id' => '137',
			'title' => 'Global Ecommerce To Top $1.2 Tn, Driven By Asia-Pacific Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Independent market research firm eMarketer released a study claiming that business-to-consumer (B2C) ecommerce will increase by 17 percent globally in 2013, with worldwide sales expected to reach $1.2 trillion. The Asia-Pacific region is driving ecommerce growth more than any other, and is expected to outpace the rest of the world at 23 percent growth over last year. China and Indonesia are leading the region&rsquo;s growth. &ldquo;Asia-Pacific already accounts for nearly a third of all B2C ecommerce sales in the world, a share of the total just below North America&rsquo;s. Next year, Asia-Pacific will lead all regions in share of the worldwide total spent online,&rdquo; the study asserted.</div>
<div>
	&nbsp;</div>
<div>
	Indonesia is expected to see ecommerce growth up 65 percent compared to 2012. China is up 71 percent over last year. Comparatively, the U.S. expects only a 12 percent rise in ecommerce by the end of the year.</div>
<div>
	&nbsp;</div>
<div>
	While the Asia-Pacific leads in growth, North America maintains its lead in actual sales. North America spent $373 billion in 2012, which is expected to rise to $420 billion in 2013. The Asia-Pacific spent $316 billion in 2012 and eMarketer anticipates $389 billion to be spent this year. However, the Asia-Pacific is set to overcome the reigning top spender by the end of next year. While North America is expected to have $469 billion in sales for 2014, the Asia-Pacific will take the lead at $502 billion. The gap will widen even further by 2016 &ndash; with the Asia-Pacific expected to spend $708 billion versus North America&rsquo;s $580 billion.</div>
<div>
	&nbsp;</div>
<div>
	The study also indicated that more web users in the Asia-Pacific are embracing online shopping. &ldquo;Ecommerce sales growth will be supported by an estimated 1.03 billion digital buyers around the world this year, 44.4% of whom will be in Asia-Pacific. China alone will boast 269.4 million digital buyers this year&mdash;a figure that includes internet users ages 14 and older who make at least one purchase via any digital channel during the calendar year. The US remains the country with the second-largest number of digital buyers, at 155.7 million this year,&rdquo; the study claimed. The study concludes that many web users in the Asia-Pacific who previously weren&rsquo;t buying online will decrease this year. eMarketer expects penetration to increase in China, from 40 percent last year to a projected 71 percent of internet users by 2017. Current digital buyer penetration in the U.S. is just slightly above that projection currently at 72 percent.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There is still significant room for growth, though, in developing markets where many internet users are still not buying online. Western Europe and North America are the only regions in the world where a majority of the online population is also a digital buyer,&rdquo; said the study. As countries like China increase its wealth, it becomes inevitable that more of its citizens will be connected to the web. It is logical to assume that many of those Internet users will discover the advantages (and disadvantages) of buying online.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<div>
		<strong><span style="font-size:14px;">E-markets in Nepal on the Rise</span></strong></div>
	<div>
		&nbsp;</div>
	<div>
		E-commerce market in Nepal emerged about a decade ago. Kick-started through gift-sending and bill payment services through online portals, the market went on to expand due to increasing purchasing power among Nepali consumers. Online shopping revenues have witnessed fast paced growth as the number of internet users in Nepal continues to rise. The domestic e-commerce market has now expanded into various segments such as online shopping, e-banking, mobile commerce, electronic cash transfers and e-ticketing. Time and money saving hassle-free services are seen to be the main factors in attracting internet users to online markets.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Annual online transactions in Nepal are estimated to be around Rs 10 billion, although an official figure is not available. Many online shopping websites have emerged since the inception of e-commerce in Nepal. Muncha.com, Thamel.com, Harilo.com, Yeskantipur.com, Metrotarkari.com, Foodmandu.com, Bhatbhatenionline.com and Nepbay.com are some of the popular websites among Nepali online shoppers. Some of these sell their own products whereas others deliver from global sites such as eBay and Amazon. Nepali shoppers have the option to buy products ranging from groceries and fresh vegetables to cars from online portals.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		However, lack of a clear policy is hindering the growth of online markets here. &ldquo;The government has not helped the domestic e-commerce market and neither obstructed it,&rdquo; says Balkrishna Joshi, the CEO of Thamel.com. According to Joshi, the e-commerce market in Nepal is facing problems in the bill payment system. &ldquo;Establishing a central payment gateway will solve this problem, the central bank and concerned authorities should look into this,&rdquo; Joshi said. &ldquo;Similarly, creating a safer online environment for customers will also attract more investments in e-markets here,&rdquo; he added.</div>
	<div>
		&nbsp;</div>
</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-12',
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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' => 'Independent market research firm eMarketer released a study claiming that business-to-consumer (B2C) ecommerce will increase by 17 percent globally in 2013, with worldwide sales expected to reach $1.2 trillion.',
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	(int) 1 => array(
		'Article' => array(
			'id' => '1593',
			'article_category_id' => '135',
			'title' => 'Maximum Participation A Must For Power Summit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The Independent Power Producers&rsquo; Association Nepal (IPPAN) is organising a Power Summit on August 26 and 27 this year, an event for hydropower developers. This is the 4th such event being organised by IPPAN and invitations have already been sent to investors and foreign delegates. The organisers expect the summit to create a favourable environment for the hydropower sector. The Corporate caught up with IPPAN representatives to find out about preparations for the event. <strong>Excerpts:</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Subarna Das Shrestha, President, IPPAN" src="/userfiles/images/sds.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 174px;" /><strong>Subarna Das Shrestha</strong></div>
<div>
	<em>President, IPPAN</em></div>
<div>
	IPPAN is deeply committed towards making the event successful. We are highlighting the importance and potential of hydropower this year and spreading the word to investors, representatives from different financial institutions and foreign delegations. We are expecting around 500 participants this year and believe that if we are able to attract more foreign participants, the summit could be considered successful. If we convince the foreign delegates of our project proposals, we will be attracting investment funds from them which will help implement hydropower projects more smoothly. Similarly, we are focused to convince the government too. The ongoing power shortage is halting the growth of the economy. The summit can help in creating an environment conducive for successful completion of all hydropower projects. We are trying our best to make it informative and useful.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Khadk Bahadur Bisht Vice President, IPPAN" src="/userfiles/images/kbb.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 175px;" /><strong>Khadk Bahadur Bisht</strong></div>
<div>
	<em>Vice President, IPPAN</em></div>
<div>
	I believe that there will be maximum participation to make the Power Summit successful. Earlier, many developers came for hydropower projects but they gradually vanished which was not good for the sector. Based on this, I would say that the summit will be successful if it is able to attract developers in a large number. At a time when the energy crisis is high, the summit should be able to address the prerequisites of the hydropower sector and convince the government, developers and investors. There should be qualified speakers and appropriate projects presented to make this possible. As political instability affects economic growth, the summit should address the issue of political commitment and legal and regulatory framework. It should also address the demands of developers. Similarly, various workshops focusing on core areas, like export-oriented projects with direct foreign investment and power market mechanism, will help make the summit successful.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-12',
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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 Independent Power Producers’ Association Nepal (IPPAN) is organising a Power Summit on August 26 and 27 this year, an event for hydropower developers.',
			'sortorder' => '1454',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1592',
			'article_category_id' => '134',
			'title' => '‘CAAN Plans To Improve Eight Airports In Remote Areas’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="Ratish Chandra Lal Suman,Director General of Civil Aviation Authority of Nepal (CAAN)." src="/userfiles/images/rcls.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 219px;" />Ratish Chandra Lal Suman</strong> is the Director General of Civil Aviation Authority of Nepal (CAAN). In an interview with <strong>Raju Baskota</strong> of The Corporate, Suman shared the plans and parameters of CAAN and the International Civil Aviation Organization (ICAO). <strong>Excerpts:&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the progress made thus far in regulating domestic and international air services and in division of work among service providers?</strong></div>
<div>
	We are in the last phase of regulating air services and the division of work. &nbsp;We are planning to finalize the process by 2015 and our consultants too have provided a report accordingly. CAAN rules need to be amended for the implementation of the report; we need government support for this and are working towards it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you elaborate on the division of work?</strong></div>
<div>
	It is important to form different committees for operating an airport, providing services and deciding its rules and regulations. This is an international practice and was discussed since the establishment of CAAN. But air services were very few then although now it is gradually increasing. A systematic process is needed for work division, which is taking time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Will differentiating work and regulation services mitigate safety risks?</strong></div>
<div>
	Yes, risk will be mitigated with these measures. Division of work will bring simplicity in work and work load will automatically grow lighter. This in turn will help in risk reduction. We also are expecting to reduce the safety challenges by regulating air services differently on the basis of domestic and international air services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What have been CAAN&rsquo;s recent achievements?</strong></div>
<div>
	We prioritized improving the standard of our airports by adding new technologies and increasing safety. The Air Traffic Controller (ATC) automation system has begun due to this and new radar will be placed by 2015 too. We are also working on minimizing safety challenges and on improving the management system.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Does CAAN itself devise the budget for the improvement of airports?</strong></div>
<div>
	Government&rsquo;s grants and the total amount of shares invested are kept in the same basket by CAAN. The aviation authority is allowed to allocate its annual revenue and the government&rsquo;s grants to areas as required. With such allocations, we have completed construction of seven airports within the past three years. CAAN is also allocating funds to improve other airports. This fiscal year, CAAN is planning to improve eight airports in remote areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is being done to operate Nepali airline services according to the standards and rules of the International Civil Aviation Organization (ICAO)?</strong></div>
<div>
	CAAN is taking gradual steps for this. Nepal is also working to have safety audits considering ICAO standards. Similarly, we are planning to set parameters for both domestic and international flights, to systemize work process and policies, focusing on the safety of air services. CAAN will request to repair the aircraft&rsquo;s system for landing and take-off and if it is not complete, we will take action accordingly.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>CAAN has added parameters for Air Operator Certificate Requirements (AOCR). Airline companies are calling it impractical. What is your take on the matter?</strong></div>
<div>
	How is it impractical? Airline companies are not behaving as per the requirement of airline services and now they are calling the new AOCR impractical. A company that can bring an airline worth Rs 500 million can obviously pay the required amount for its certification. For the smooth operation of aircraft, we have set a deposit of Rs 2.5 million for helicopters, Rs 5 million for domestic flights and Rs 500 million for international flights. This parameter must be followed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the progress on CAAN&rsquo;s decision to buy an aircraft?</strong></div>
<div>
	CAAN is a regulatory body and is supposed to develop rules and regulations, conduct frequent analyses and training. An aircraft was needed for aviation training. The Authority possessed one aircraft 10 years ago which crashed and has not been replaced since. The Authority has thus allocated Rs 570 million to buy a Twin Otter aircraft. In case this amount is insufficient, some more funds will be provided. We are planning to open a tender to bring a Twin Otter aircraft by September 2015.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>There are rumours that CAAN is buying an aircraft to only serve politicians. What do you say?</strong></div>
<div>
	&nbsp;We have considered the matter of buying an aircraft very seriously. We will form specific parameters to operate it by providing 10 per cent of the maintenance cost for regular services of aircrafts and 90 per cent for business purposes. The maintenance and insurance costs, and additional parts of the aircraft are all included in the fund allocated for its purchase.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Why is the Authority weak in keeping a clear statement of income and expenditure of airports?</strong></div>
<div>
	We are analysing the income-expenditure figures of all airports currently. If we analyse the investment and operation costs of all airports, we can see that every airport including Tribhuvan International Airport (TIA) is making a loss. As for the annual operation of flights, only seven airports in trunk routes, that have maximum passenger flows are in profit.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>CAAN has a budget of Rs 11 million for this fiscal year. Is the construction of new airports included in it?</strong></div>
<div>
	Of the total budget, Rs 7 million has come from government grants and share capital and Rs 4 million has come from the Authority&rsquo;s internal source. The total expenditure of the Authority will mainly go to the construction and capacity enhancement of airports, keeping the government&rsquo;s suggestions in consideration.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-12',
			'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' => 'Ratish Chandra Lal Suman, the Director General of Civil Aviation Authority of Nepal (CAAN) shared the plans and parameters of CAAN and the International Civil Aviation Organization (ICAO).',
			'sortorder' => '1453',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1591',
			'article_category_id' => '122',
			'title' => 'A Constant Business Endeavour',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	&nbsp;</p>
<p>
	<strong>--By TC Correspondent</strong></p>
<div>
	<div>
		&nbsp;</div>
	<table align="right" border="0" cellpadding="1" cellspacing="1">
		<tbody>
			<tr>
				<td>
					<img alt="Rajesh Kazi Shrestha,Chairman, RK Associates" src="/userfiles/images/RKS.jpg" style="width: 175px; height: 192px;" /></td>
			</tr>
			<tr>
				<td style="text-align: center;">
					<div>
						<strong>Rajesh Kazi Shrestha</strong></div>
					<div>
						Chairman, RK Associates</div>
				</td>
			</tr>
		</tbody>
	</table>
	<div>
		RK Associates and its sister concerns such as Nepal International Business (NIB) Pvt Ltd and &nbsp; Constant Business Group (CBG) are authorised dealers of Lifan&rsquo;s motorbikes and cars and the brands Zotye, Proton, Jonway and Ssangyong. In business for the past 32 years, CBG and its promoters have been trading automobiles and dealing re-conditioned and brand new vehicles in Kathmandu.</div>
	<div>
		&nbsp;</div>
	<div>
		CBG started its business by first importing Lifan motorbikes to Nepal and later assembling them here. After selling a large number of motorbikes within a short time, the company felt the need to provide after sales services and spare parts to its customers, which it has now arranged for.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Rajesh Kazi Shrestha, Chairman of RK Associates, the group of companies that runs CBG, NIB, Alliance Insurance Company Ltd, Soaltee Hotel Limited, Status Trading Pvt Ltd among other companies, said that the Lifan Company has introduced SUVs in the Chinese market and that he plans to bring them to Nepal through Nepal International Business (NIB), an authorised distributor of Zotye International Automobiles of China.</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha claims that the company has sold more than 600 Zotye SUVs in Nepal in the past five years. &ldquo;Customers demand Zotye vehicles that use Mitsubishi engines and provide power, performance and quality to their rides; we brought the Jonway SUV in order to meet their demand,&rdquo; he says.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		NIB has also brought the Zotye Nomad, a mini SUV, to Kathmandu recently. An authorised distributor of Ssangyong Automobiles of Korea too, it has also introduced the four-wheeler Korando in the Nepali market.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<span style="font-size: 14px;"><strong>Starting a Business&nbsp;</strong></span></div>
	<div>
		Shrestha&rsquo;s interest in automobiles and his family&rsquo;s background in business lured him to the field of trading vehicles. &ldquo;While I was doing my B.Com, I realised that I my fortunes were waiting for me in this line and that prompted me to jump into this sector,&rdquo; he recalls. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Given to his keen interest in vehicles since childhood, Shrestha focused himself in the trading of vehicles. He is not, however, confined only to vehicle trading but also involved in insurance, banking, food and carpets, among other businesses. CBG&rsquo;s sister enterprises are looked over by Shrestha himself while others are taken care of by his business partners.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">New Launches</span></strong></div>
	<div>
		The company introduced the Higer bus in Nepal last Wednesday. The bus&rsquo;s primary clients are tourism and travel agencies and were brought to Nepal following the request of travel entrepreneurs.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;When I told them it was hard for me to provide the service unless there was a demand for more than 12 buses, tourism entrepreneurs came jointly with an order of 10 buses,&rdquo; says Shrestha, who also claims the buses will help boost the tourism industry in Nepal. Post the bus launch, CBG has been getting an overwhelming response from the market according to Shrestha. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		This initial response, although a boost for the company&rsquo;s morale, does not ascertain success as the depreciation of the rupee is bound to affect the market price and sales of vehicles. &nbsp;&ldquo;We have requested the company to reduce the price for pre-order in bulk,&rdquo; says Shrestha, revealing some cautionary measures for market uncertainty. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Market Challenges and Prospects</span></strong></div>
	<div>
		The spiraling value of the rupee has hit businesses hard and NIB is not an exception. Though the company is satisfied with increase in sales, Shrestha says the rate of return is too low and additional vehicles are not being imported due to the escalating price of dollars. &ldquo;We are in a wait and watch mode,&rdquo; Shrestha says adding that the company does not have immediate plans for market expansion unless the rupee strengthens against the dollar.</div>
	<div>
		&nbsp;</div>
	<div>
		With various models and brands available, Shrestha regards competition due multiple choices in the market as a major challenge for his company. To overcome this, the company is keeping a vigilant eye to provide something unique to its customers. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Nepal, however, is a lucrative market for SUVs, fancy cars, motorbikes, buses and other vehicles. Provided there is political stability in the country, Shrestha sees a very good prospective for automobile business here. &ldquo;People&rsquo;s purchasing power has gone up and they are demanding more,&rdquo; he says. &ldquo;Selling more vehicles would result in big transaction which bodes well to all including businessmen, government and the people.&rdquo;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Expectations from the Government&nbsp;</span></strong></div>
	<div>
		High import duties imposed on automobiles by the government, despite Nepal&rsquo;s WTO membership and commitment to gradually reduce custom duties, is affecting vehicle sales, according to Shrestha.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Entrepreneurs like him expect the government to formulate policies and laws in line with the obligation it has made for the WTO membership.</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha also demands the government to come up with an effective plan to replace old vehicles. &ldquo;Vehicles older than 20 years should be replaced. They consume too much fuel and pollute the environment,&rdquo; he says.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Marketing Matters and the Future</span></strong></div>
	<div>
		Even though marketing work has become more simplified with information and technology, Shrestha is not satisfied with the way it is executed in Nepal. He admits that the business community here has not been able to fully tap the advantage of technology in this field. &ldquo;Sometimes, our marketing expenditure even surpasses our income,&rdquo; he says to demonstrate the point.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha emphasises the need for assessing consumer demand and market wave length as a first step to improvement. &ldquo;Our company formulates marketing strategies to increase our sales and we are trying to integrate appropriate technology in our marketing tools,&rdquo; he shares. &ldquo;But it is still uncertain as to whether investment in marketing would bring returns.&rdquo;</div>
	<div>
		&nbsp;</div>
	<div>
		With over 150 employees in total, Shrestha delegates responsibilities to a trusted team and receives updates and provides guidance through regular meetings. His future plans hinge upon the political and business climate of the country. But even as he echoes common frustrations among businessmen of a lack of encouragement for new ventures, Shrestha has not withheld from making optimistic plans for the future, for solar energy, agri-business and tourism are sectors he has kept an eye out for, he also reveals possibilities of importing airplanes from China soon.</div>
	<div>
		&nbsp;</div>
</div>
<div>
	<img alt="rk aSSOCIATES" src="/userfiles/images/spotlight1.jpg" style="width: 500px; height: 112px; margin-left: 15px; margin-right: 15px;" /></div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#FFFFFF">
				<p>
					<span style="font-size: 14px;"><b>AT A GLANCE</b></span></p>
				<div>
					<div>
						&nbsp;</div>
					<div>
						<div>
							<strong><span style="font-size:14px;">Higer Buses Launched</span></strong></div>
						<div>
							<img alt="Higer Bus" src="/userfiles/images/HIGER%20BUS.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 182px;" />Nepal International Business Pvt. Ltd has brought Higer Bus in Nepali market. The bus is produced by Higer Company of China. Tourism entrepreneurs are the main target customers of the company for these buses. &nbsp;The buses were launched by Chief Secretary Lila Mani Poudyal and Chinese Ambassador to Nepal, Wu Chuntai, amid a program in capital last week. &nbsp;Designed to suit the topography like of Nepal, the company has believed, this brand of the bus will be popular in Nepali market very soon. The newly introduced buses have the seat capacity of 29 to 35, according to the company. The company has also offered the warranty for 18 months while maintenance and the buses&rsquo; spear parts can be easily available from the company. Air condition cooling and heating, luggage compartment with cool air outlet, luxurious seats, reverse display monitor, Electrophoretic technology guarantee and corrosion resistance, among others, are the main features of the bus.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong><span style="font-size:14px;">Vehicle Brands Imported by CBG</span></strong></div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Zotye Nomad SUV</strong></div>
						<div>
							CBG is also an authorised distributor of Zotye International Automobiles of China in Nepal. The Company had also brought the Zotye Nomad mini SUV in 2011. Zotya Nomad SUV- 3,970 mm long, 1,570 mm wide and 1,733 mm tall - &nbsp; has 1,500 cc petrol engine with 16 valves and a multi-point electric fuel injection system. Zotye Nomad is available in seven colors&mdash;pure white, crystal silver, light black, pure red, light blue, dark blue and bright black.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Jonway SUV</strong></div>
						<div>
							CGP is also an authorised dealer of Jonway Companies&rsquo; products in Nepal. Jonway Auto Company is the main exporting automobile company of China. &nbsp;It has minimum grounded clearances of 200 mm. The ISO 9001: 2000 certified company has been exporting its products to around 40 countries.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>SSangYong Cars</strong></div>
						<div>
							CGP is also an authorized dealer of SsangYong, the automobile manufacturing company based in South Korea. It had introduced the new model of its second generation Korando cars in the Nepali in April, 2011. Korando brand cars are sold in 82 countries around the world. The price tag of Korando car was Rs. 4,775,000 at the time of launch.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Lifan</strong></div>
						<div>
							The sister concern of the CGP has sold Lifan motorbikes in Nepal. Later, it also started assembling the motorbikes itself in Nepal. &nbsp;The company has the service center and spare parts for Lifan customers.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Proton</strong></div>
						<div>
							Sole authorized distributor of Malaysia based auto manufacturer Proton in Nepal, CGP sells Proton Persona, Gen.2 and Savvy&mdash;in the Nepali market.&nbsp;</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-12',
			'modified' => '2013-08-12',
			'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' => 'Active in business for over three decades, the Constant Business Group’s Rajesh Kazi Shrestha is now attempting to expand his turf to agriculture, tourism and solar energy.',
			'sortorder' => '1452',
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	),
	(int) 4 => array(
		'Article' => array(
			'id' => '1590',
			'article_category_id' => '160',
			'title' => 'Corptoon Issue 26',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-08-11',
			'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 Issue 26',
			'sortorder' => '1451',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'breaking_news' => false,
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	),
	(int) 5 => array(
		'Article' => array(
			'id' => '1589',
			'article_category_id' => '91',
			'title' => 'Hydro Meets In The Offing',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The Independent Power Association of Nepal (IPPAN) and Hydroelectricity Investment and Development Company Limited (HIDCL) will be organising consecutive meetings of the hydro power sector from August 26-29.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hosting the Power Summit 2013 on August 26-27, IPPAN is collaborating with PTC India limited (PTC) and the Nonresident Nepali association (NRNA) to catalyze the hydropower sector in the face of political instability. The power summit will conduct a critical review of where the hydropower sector has reached since 2006, assessing what is lacking and what needs to be in place in order to hasten the pace of the sector.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	A key point to be raised is the seven-year period of slow growth of the sector which has only been able to generate 180 MW of electricity &ndash; 110 MW coming from the private sector and 70 MW from the NEA. Participants of the event include stakeholders from Brazil, China, Czech Republic, France, India, Korea, Nepal, Norway and USA.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meetings on August 28-29 include a hydropower investment meet by HIDCL supported by the Ministry of Energy, the Ministry of Finance, The Investment Board of Nepal (IBN) and the Asian Development Bank (ADB). Major attractions include the participation of international and domestic hydropower developers, investment companies, sovereign wealth funds and utility companies. The programme will focus on a long overdue follow-up by the investor&rsquo;s forum and a reflection by ADB. &nbsp;</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-11',
			'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 Independent Power Association of Nepal (IPPAN) and Hydroelectricity Investment and Development Company Limited (HIDCL) will be organising consecutive meetings of the hydro power sector from August 26-29.',
			'sortorder' => '1450',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	),
	(int) 6 => array(
		'Article' => array(
			'id' => '1588',
			'article_category_id' => '91',
			'title' => 'NPR Depreciation Taking Toll On Nepali Economy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	The sharp devaluation of the Nepali rupee (NPR) is causing various macroeconomic impacts on the Nepali economy. The local currency which maintains an exchange rate peg with the Indian rupee (INR) has depreciated by about 13 per cent between 1st May and 9th August of 2013 against the US dollar. The weakness of INR is caused by India&rsquo;s slowing economic growth combined with a widening current account deficit (mainly due to rising petroleum and gold imports), decline in exports and the strengthening of the US dollar as economic recovery in the US gathers pace. &nbsp; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the NPR continuously losing strength against the USD, the Nepali economy is facing significant negative impacts. As the USD becomes dearer, Nepal needs to allocate a huge sum of funds for foreign loan repayment. The strengthening USD is pushing interest rates higher and exerting pressure on the central bank to manage a huge foreign currency reserve for loan repayment. This will increase the country&rsquo;s debt which was 34.1 per cent of the gross domestic product (GDP) in the fiscal year 2011/12. Nepal&rsquo;s debt to GDP ratio is following a declining trend from the record high of 44 per cent in FY 2007/08.</div>
<div>
	&nbsp;</div>
<div>
	The currency devaluation is also likely to further widen trade deficit with India, the largest trading partner of Nepal. This is due to import payments that are made in USD, which is done by selling INR from Nepal&rsquo;s forex reserve. Since the INR has plunged to a historic low against the USD, Nepal is forced to sell more INR for import payments. In the 11 months of FY 2012/13, Nepal&rsquo;s trade deficit with India jumped by 27.4 per cent to Rs 289 billion compared to the 13 per cent growth recorded in FY 2011/12. Since Nepali production is insufficient to fulfill internal demand, the country relies heavily on import. This will be reflected in the increase of the final price of retails goods and services in the domestic market. Petroleum import will also become costlier due to the currency devaluation. The international petroleum price, which is maintained in dollar terms, has gone up in recent months due to the rise of USD.</div>
<div>
	&nbsp;</div>
<div>
	Nepal imports petroleum through the state-owned Indian Oil Corporation (IOC). The price rise in petroleum, retail goods and services will finally lead to an increased inflation rate.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the impacts are largely negative, currency devaluation has some positive effects like Remittance, Nepal&rsquo;s major source of foreign currency income is likely to rise by the strengthening of the USD. This will help to maintain the country&rsquo;s balance of payment (BOP) surplus. According to data published by Nepal Rastra Bank (NRB), the overall BOP recorded a surplus of Rs. 52.69 billion during the 11 months of FY 2012/13 compared to a surplus of Rs. 115.76 billion during the same period of the previous year. Likewise, income from tourism will also increase as foreign visitors can spend more following the dollar appreciation. Similarly, Nepali export earnings, especially from merchandise goods such as handicrafts, garments and carpets may increase as exports will become more competitive with the weakening of domestic currency. However, Nepal may not be able to take advantage of currency depreciation from export earnings due to several reasons. High cost of production due to rising price of imported raw materials, long-standing electricity shortages and labour disputes are seen as factors hindering the country&rsquo;s export sector.&nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-11',
			'modified' => '2013-08-11',
			'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 sharp devaluation of the Nepali rupee (NPR) is causing various macroeconomic impacts on the Nepali economy.',
			'sortorder' => '1449',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '1587',
			'article_category_id' => '91',
			'title' => 'Govt Indifference Puts Investment Board At Limbo',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	Thanks to the government&rsquo;s gross indifference towards the Investment Board (IB), which was established with an authority to create investment friendly environment, is now rendered in a dysfunctional state. Even after two years of establishment, the IB hasn&rsquo;t been able to lure any single major project despite its lofty plans to promote national and foreign investments.</div>
<div>
	&nbsp;</div>
<div>
	The Investment Board Nepal was established as a one-stop service centre for foreign and local investors two years ago under the Investment Board Nepal Act, 2068.</div>
<div>
	&nbsp;</div>
<div>
	The Babu Ram Bhattarai-led government had handed over a total of 14 mega projects, including five large hydropower projects, to the IB in May 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It aims to promote economic development by mobilizing and managing public-private partnership, cooperative and domestic and foreign private investments.</div>
<div>
	&nbsp;</div>
<div>
	Chairman of Interim Election Council Khilraj Regmi is the Chairman of the IB, while he has deputed Federal Affairs and Local Development and Health and Population Minister Bidyadhar Mallik to assume the role of Vice-chairperson in the 11-member board.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Finance Minister, Forestry Minister and Industry Minister are also the board members for the IB. However, according to a source inside the IB seeking anonymity complained that none of the ministries have been much supportive towards the Board.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government hasn&rsquo;t yet provided the human resources required to the Board for the smooth functioning and to facilitate the large scale investment projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Allocating a budget of Rs 120.9 million &nbsp;to the Board for FY 2013-14, Finance Minister Shankar Koirala has stated that the mechanism would be made resourceful. But economic analysts lament that the budget falls short in addressing the expectations to enhance the institutional capacity as well as equipping it with the technical experts.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Mukunda Paudyal, Joint-Secretary at the IB, informed that the budget allocated by the government to the Board in one-third of the Board&rsquo;s demand.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Budget apart, we have made many policy prescriptions to the government and asked it to amend the laws related to investment. However, the government turned deaf ear towards our recommendation,&rdquo; he told The Corporate.</div>
<div>
	&nbsp;</div>
<div>
	The absence of the legislative parliament has also posed a problem for amending laws that are creating hurdles for the investment friendly atmosphere. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The structure of the Investment Board is also a stumbling block towards attracting investors on the sectors that the IB has prioritized, another official in the IB told The Corporate seeking anonymity. He further explained that the Board comprises the members from the business community too who are not much welcoming the new investors in the same field much members are involved. &ldquo;They have also investment in the priority sectors of the IB so they might not be interested to bring other investors in the same sectors. There is conflict of interest.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Likewise, the government is less bothered to own the work of the IB, a source said. &ldquo;We are in the process of doing the Power Development Agreement for four hydro power projects now. If there was a political government, it could have given impetus to complete these projects,&rdquo; he argued, &ldquo;as owning these achievements after bringing the large investors in these projects could mean a lot in terms of political capitalization.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the much touted Investment Year 2012-13 turned to be a non-starter. It failed to yield any tangible result despite its claim that it would attract major foreign investments during this celebrated year. The IB hasn&rsquo;t even been able to chart out the strategy to bring big foreign investors in Nepal. &ldquo;We haven&rsquo;t made it yet due to our busy schedule and owing to the country&rsquo;s political situation,&rdquo; Poudyal said.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-11',
			'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' => 'Thanks to the government’s gross indifference towards the Investment Board (IB), which was established with an authority to create investment friendly environment, is now rendered in a dysfunctional state.',
			'sortorder' => '1448',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'main_news' => false,
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			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '1586',
			'article_category_id' => '34',
			'title' => 'Volkswagen Sales In Nepal Reaches 1000 Units',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Pooja International Nepal, authorised importer of Volkswagen, organised a press meet to celebrate the sales of 1000th Volkswagen in Nepal. Henning Hansen, First Secretary, Charg&eacute; d&#39; Affaires, German Embassy Kathmandu was the chief guest for the programme. He handed over the car key of New Passat to Jimmy Shrestha, the 1000th owner of Volkswagen cars in Nepal. Shrestha, the Director of Hatale Udhyog in Sitapaila, said, &quot;Volkswagen has always been known for outstanding driving pleasure, safety and comfort besides its elegant design and styling. I am proud and delighted to own the 1000th Volkswagen in Nepal.&quot;<br />
	<br />
	Bibek Bijukchhe, Chief Executive Officer of Pooja International Nepal, said, &ldquo;Volkswagen has been able to compete in the mass segment while being known for their superior built quality. It&rsquo;s the brand, man, machine and network which helped us win the hearts of Nepali customers in just around three years.&rdquo; &ldquo;We have a target to deliver 800 Volkswagen cars nationwide in fiscal year 2070/71,&rdquo; said Sarik Bogati, Marketing Manager of Pooja International Nepal.The programme was organised at the Volkswagen Showroom in Lazimpat.<br />
	<br />
	<br />
	&nbsp;<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-10',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'Pooja International Nepal, authorized importer of Volkswagen, organized a press meet to celebrate the sales of 1000th Volkswagen in Nepal. Henning Hansen, First Secretary, Chargé d' Affaires, German Embassy Kathmandu was the chief guest for the programme.',
			'sortorder' => '1447',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '1585',
			'article_category_id' => '34',
			'title' => 'Colors Introduce X 109',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Colors Mobile is known for its premium yet affordable series of mobile phones. And it continues to expand its series with the latest offering &ndash; X 109 under its X series phones. So if you are looking for a feature-rich phone with a price tag that comes under a reasonable range, Colors X 109 is the answer for you.<br />
	<br />
	X 109 comes with 3.5 inch HVGA (480x320) capacitive multi-touch screen that gives you smooth touch experience. This phone flaunts an impressive design with curved back and edges. Packed with 1.3 MP Camera, this phone is loaded with many other features like the inbuilt Audio/Video Player of the phone that allows you to watch videos and capture/record life&rsquo;s special moments and a powerful battery of 1000 mAh that provides a longer talk time and a freedom from frequent charging.<br />
	<br />
	X 109 supports GPRS connection and has WI-FI support system enabling you to experience internet at its best. The phone also has some exciting inbuilt apps such as Facebook and Opera. While a feature such as the Bluetooth technology helps in adding hands free comfort, another feature like &lsquo;Analog TV&rsquo; allows you to watch your favorite programme on your mobile phone. X 109 also has a wireless FM radio so you can have your favourite radio stations on the fingertips.<br />
	&nbsp;<br />
	There is one year warranty on the mobile handset and six months warranty on battery and charger.<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-08',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'Colors Mobile is known for its premium yet affordable series of mobile phones. And it continues to expand its series with the latest offering – X 109 under its X series phones. So if you are looking for a feature-rich phone with a price tag that comes under a reasonable range, Colors X 109 is the answer for you.',
			'sortorder' => '1446',
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '1584',
			'article_category_id' => '34',
			'title' => 'Everest Bank’s Asha 2070 Fixed Deposit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	As a part of its continuous efforts to provide innovative products/services, EBL recently launched a new deposit product called &ldquo;Asha 2070 Fixed Deposit&rdquo;. The new scheme has been launched with an objective of inculcating habit of long-term savings among the General Public. The product is targeted at the individuals intended to have higher return than the regular Fixed Deposit over a period of time.<br />
	<br />
	Under this scheme, the deposit not only attracts higher rate of interest but also accumulates a handsome amount with quarterly compounded interest during a period of 2070 days. Further, the customers will also have other privileges like 50 percent discount on annual locker charge as well as the waiver of security deposit during the tenure of Deposit.<br />
	<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-06',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'As a part of its continuous efforts to provide innovative products/services, EBL recently launched a new deposit product called “Asha 2070 Fixed Deposit”. The new scheme has been launched with an objective of inculcating habit of long-term savings among the General Public. The product is targeted at the individuals intended to have higher return than the regular Fixed Deposit over a period of time.',
			'sortorder' => '1445',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '1583',
			'article_category_id' => '150',
			'title' => 'Business Briefs (5 -11 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="eScan Version 14" src="/userfiles/images/ESCAN.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 74px;" />eScan Version 14 Introduced&nbsp;</strong></div>
<div>
	Phoenix Trading, eScan Authorized Distributor for Nepal has launched eScan Version 14 for SOHO editions with cloud security. According to the company, the new version aims to provide a secured computing environment, and is in accordance with the feedback from global users. eScan 14 has been developed to be very light on system resources and does not slowdown the user&rsquo;s system, says a press release from the company.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="The British College" src="/userfiles/images/TBC.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 71px;" />Open Day at The British College&nbsp;</strong></div>
<div>
	The British College organised Open Day for interested students on July 31. Participating students received a detailed presentation from International Education Consultant, Graham Minshaw. During the presentation, Graham discussed the UK education system and informed students what they should expect when studying on a UK degree.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Tata Safari " src="/userfiles/images/TTSFR.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 80px;" />Tata Safari Storme in Nepal&nbsp;</strong></div>
<div>
	Siprdai Trading has launched Tata Safari Storme in the Nepali market. Dubbed as the &lsquo;Real SUV&rsquo;, Storme is claimed to be the combination of luxury, power and off-road performance. The SUV is powered by a 2.2 litre VariCOR turbocharged engine delivering a maximum output of 140 ps and a peak torque of 320 NM. According to the company, the SUV can accelerate from 0 to 100 kms in 14 seconds. The price of Safari Storme starts from Rs 3.78 million.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Gitanjali Jewels" src="/userfiles/images/GITANJALI.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 46px;" />Gitanjali&rsquo;s Facebook Offer&nbsp;</strong></div>
<div>
	Gitanjali Jewels has introduced an offer on its official facebook page as a part of its online promotion. The offer is named &lsquo;Like and Win a Diamond Pendant&rsquo;, and users liking the Gitanjali page on facebook will win a diamond pendant worth Rs 10,000. Two Lucky winners will be selected every week through a random lucky draw. The link to Gitanjali facebook page is www. &nbsp; &nbsp;facebook.com/GitanjaliJewelsNepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Samsung’s New Smartphones" src="/userfiles/images/SMSNG.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 61px;" />Samsung&rsquo;s New Smartphones&nbsp;</strong></div>
<div>
	Samsung has introduced three new smartphones in the market, namely Galaxy Mega, Galaxy Core and Galaxy Pocket Neo. Galaxy Mega comes with a 5.8 inch screen and runs on Android 4.2.2, and has 1.5 GB RAM and 1.4 GHz dual-core processor. It is priced at Rs 44,000. Galaxy Core is a dual SIM smartphone with android 4.1 OS, 4.3&rdquo; screen, 1 GB RAM and 1.2 GHz Dual Core Processor and costs Rs 28,500. Dual SIM Galaxy Pocket Neo has android 4.1.2 OS, 512 MB RAM and is priced at Rs 12,300.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-06',
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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' => 'Phoenix Trading, eScan Authorized Distributor for Nepal has launched eScan Version 14 for SOHO editions with cloud security.',
			'sortorder' => '1444',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1582',
			'article_category_id' => '149',
			'title' => 'Quality Is A Sign Of Success',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Devraj Mishra ,Chairman Karuna Interior Pvt Ltd" src="/userfiles/images/DEVRAJ.jpg" style="width: 175px; height: 192px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Devraj Mishra</strong></div>
				<div>
					Chairman</div>
				<div>
					Karuna Interior Pvt Ltd</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Karuna Interior Pvt Ltd, a familiar name for interior works and furniture was established in 1990. After three years of operation, the company expanded itself to the field of metal structural works and aluminum fabrication.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Named after the mother of chairman, Devraj Mishra, the venture began as a family business which commenced wooden furniture manufacturing in 2005. With the widening scope of furniture business, Karuna has enhanced its services and has now become one of the best interior service providers in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;What we create for you is not our creation, but your own,&rdquo; says chairman Mishra, explaining the company&rsquo;s tagline &ldquo;The user is the dreamer; the dreamer, the owner&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have a variety of products and they are popular among our clients not only due to the reasonable price but also for our prompt service, amazing designs and best quality materials,&rdquo; added Mishra.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With more than 40 employees at present, the company faced many ups and downs from its inception to its current market status. &ldquo;Our main hurdles ranged from the lack of knowledge among customers on interior design and conventional practice of not adhering to advice, poor discussion during design phase, the inability to visualise the end product and demands for change after work is done with,&rdquo; informed Mishra.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Considering all problems and crises as good lessons, the company actively introduced a new technique to run business and has been dealing with interior design related products and services among customers who want to decorate residential buildings, offices in commercial complexes or private buildings.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company asserts that its target groups are middle and upper-middle class families - their individual homes, apartments or rented living spaces; banks and financial institutions, corporate business houses, hotels/ restaurants, schools/colleges and government offices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With a single outlet at Gairidhara Kathmandu, the company&rsquo;s market mostly extends to the Capital only. According to Executive Director Bipin Sharma, the company is focused on customer satisfaction with after sales service quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company does not believe in competition as it believes that the best one always stands out without having to compete. &ldquo;The brand name is a strength in itself and our dedication towards our customers will ensure its strength in the future,&rdquo; adds Sharma.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sharma says the company has annual advertisement plan through print media. The company focus on social networking as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With plans to construct a well-equipped factory in Dahachok, Kathmandu and an expanding showroom space in Gairidhara, the team at Karuna Interior Pvt. Ltd. continues to provide satisfying services to its customers.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Karuna Interiors Pvt Ltd has come a long way in establishing its market in interior design services',
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			'id' => '1581',
			'article_category_id' => '115',
			'title' => 'Lifestyle And Technology News In Brief (5-11 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>Humanoid Robot Launches on Japan Rocket&nbsp;</strong></div>
<div>
	<img alt="Humanoid Robot Launches on Japan Rocket" src="/userfiles/images/humanoid.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 87px;" />Japan&rsquo;s space agency says the first talking humanoid robot &ldquo;astronaut&rsquo;&rsquo; has taken off in a rocket. Kirobo derived from the Japanese words for &ldquo;hope&rsquo;&rsquo; and &ldquo;robot&rsquo;&rsquo; _ was among five tons of supplies and machinery on a rocket launched Sunday for the International Space Station from Tanegashima, southwestern Japan. Developers say the childlike robot will be a companion for astronaut Koichi Wakata and will communicate with another robot on Earth. Robot designer Tomotaka Takahashi, of the University of Tokyo, advertiser Dentsu and automaker Toyota Motor Corp. worked on the robot.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Apple Once Again the World&rsquo;s Most Valuable Company&nbsp;</strong></div>
<div>
	<img alt="Apple Once Again the World’s Most Valuable Company " src="/userfiles/images/apple.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 64px;" />Apple has again become the world&rsquo;s most valuable company as rumors of upcoming next-generation iPhones and iPads are spreading. Apple toppled Exxon Mobil from its number one spot as its market capitalization went up by 0.9% to $414 bn. Exxon overtook Apple&rsquo;s market cap in late January of this year, amidst a continued sell-off of its stock. It lost the title last Thursday as its shares were down 1.8% on its disappointing earnings report, giving the firm a market capitalization of $409bn, Market Watch reports. Apple share price has last reached $457. However, the company is still $100 short from the beginning of 2013. Last September 2012, the company&rsquo;s share price went as high as $700, its highest so far. Investors are hoping that the company can now gain its momentum as consumers anticipate the debuts of the iPhone 5S, iPhone 5C, which is a low-cost iPhone, a fifth-generation iPad, an iPad mini with retina display and iWatch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Google to Bring &lsquo;Find My Device&rsquo; Feature to Android&nbsp;</strong></div>
<div>
	<img alt="Android Operating System maker Google" src="/userfiles/images/google%20android.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 72px;" />Android Operating System maker Google announced that it will offer a new service to help users keep track of their Android devices from afar. The service, called Android Device Manager, is similar to the &ldquo;Find My iPhone&rdquo; service outed by Apple in 2011, and enables Android phone and tablet owners to remotely find and manage their lost devices. Users will be able to view the current location of their devices on a map; lock their devices remotely; or, if they think a device has been stolen, activate a noisy alarm in order to ward off thieves, or erase all memory on their device. All of this can be done by logging into the Android Device Manager website on any laptop, desktop or other mobile device. The feature will become available later this month and will be able to track all devices running Android 2.2 or newer; a companion app will also be available for download in the Google Play Store.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Valve Appoints Gaming Economist&nbsp;</strong></div>
<div>
	<img alt="Valve Appoints Gaming Economist" src="/userfiles/images/vALVE.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 90px;" />Game maker Valve has appointed an in-house economist to help manage the virtual economies that have sprung up around its many titles. The company has signed up economics professor Yanis Varoufakis as their resident expert adviser. Valve contacted Prof Varoufakis as it started to think about linking game economies and hit virtual currency exchange problems. It comes as South Korea attempts to crack down on trading in video games. In a blog explaining how he came to work for Valve, Prof Varoufakis said first contact was made by Gabe Newell, president of the games company.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Japan’s space agency says the first talking humanoid robot “astronaut’’ has taken off in a rocket.',
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			'id' => '1580',
			'article_category_id' => '116',
			'title' => 'Sony Launches New Bravia Models In Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Japanese television manufacturer Sony has launched its latest range of HD Bravia TVs in Nepali market. The TVs are equipped with latest version of Wi-Fi connectivity. &ldquo;Announced earlier at the Consumer Electronic Show (CES), the new W- and R-series LED models are now available in Nepal and optimises Sony&rsquo;s proprietary technology to deliver images with vibrant hues and sounds with deeper bass and crystal-clear clarity,&rdquo; says a statement by Nepa Hima Trade Link, the authorised distributor of Sony&rsquo;s products for Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sony has used a new display technology termed as Triluminos in the latest Bravia models. The technology uses integrating QD Vision&rsquo;s Color IQ1 optical component with Sony&rsquo;s unique display technologies to reproduce a higher gamut of colours on screen, making display images appear more life-like and vivid. With 1 Color IQ and the Color IQ logo are trademarks of QD Vision, Inc. Color IQTM is an advanced light emitting semiconductor technology developed by QD Vision, Inc. &ldquo;Using this technology images on the Bravia KDL-W954A and Bravia KDL-W904A become more appealing, colours appear richer and there is a greater sense of depth,&rdquo; states the statement. Similarly, Sony also claimed that the enhanced XReality Pro picture engine (present in the new W-series models) delivers unprecedented picture quality and when coupled with the Triluminos display, &ldquo;makes one feel like you&rsquo;re looking through an open window panel.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The new Bravia lineup is also equipped with latest sound system. The TVs come with Sony&rsquo;s patented Signal-to-Sound Architecture, which employs the latest sound-engineering techniques for immersive audio experience. The KDL-W954A houses an ultra-slim two-way bass reflex speaker and stand-alone tweeter in an isolated cabinet to minimise acoustic energy being lost or distorted inside the box, while the KDL-W904A uses a discreetly integrated 1.2m speaker duct to evoke unparalleled bass and mid-range sounds for a unit of its size. The other three W-series models (KDL-W804A, KDL-W704A and KDL-W674A) come equipped with a compact bass reflex speaker.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Another key feature in the series includes Sony&rsquo;s One-touch mirroring function. Employing NFC technology, users can wirelessly amplify content, be it videos, images or applications, from their smartphones on to their TV screens with a single tap. A similar function to One-touch, Screen mirroring functionality provides users of the BRAVIA KDL-W804A, KDL-W704A, KDL-W674A and KDL-R550A with the option to wirelessly mirror and share video and audio content via their Miracast supported mobile devices, such as the Sony Xperia Z, V, SP and L.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The TVs are preloaded withTV Sideview application that allows a user to control the W-series models using a smartphone or tablet. Available on both Android and iOS platforms, the app also provides supplementary content such as cast details, episode synopsis and related programmes that might be of interest to the user.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Sony, the latest Bravia line-up also fulfils the needs of gamers. The TVs comes with 3D Simulview feature that allows two simultaneous players to play against each other without seeing a split screen. First showcased on Sony&rsquo;s flagship 84&rdquo; 4K TV last year, this year&rsquo;s offerings now all offer either active or passive 3D Simulview gaming capability in Full HD.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The new range of Bravia TVs will be available in Nepal from Rs 84,999.</div>
<div>
	&nbsp;</div>',
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		'Article' => array(
			'id' => '1594',
			'article_category_id' => '137',
			'title' => 'Global Ecommerce To Top $1.2 Tn, Driven By Asia-Pacific Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Independent market research firm eMarketer released a study claiming that business-to-consumer (B2C) ecommerce will increase by 17 percent globally in 2013, with worldwide sales expected to reach $1.2 trillion. The Asia-Pacific region is driving ecommerce growth more than any other, and is expected to outpace the rest of the world at 23 percent growth over last year. China and Indonesia are leading the region&rsquo;s growth. &ldquo;Asia-Pacific already accounts for nearly a third of all B2C ecommerce sales in the world, a share of the total just below North America&rsquo;s. Next year, Asia-Pacific will lead all regions in share of the worldwide total spent online,&rdquo; the study asserted.</div>
<div>
	&nbsp;</div>
<div>
	Indonesia is expected to see ecommerce growth up 65 percent compared to 2012. China is up 71 percent over last year. Comparatively, the U.S. expects only a 12 percent rise in ecommerce by the end of the year.</div>
<div>
	&nbsp;</div>
<div>
	While the Asia-Pacific leads in growth, North America maintains its lead in actual sales. North America spent $373 billion in 2012, which is expected to rise to $420 billion in 2013. The Asia-Pacific spent $316 billion in 2012 and eMarketer anticipates $389 billion to be spent this year. However, the Asia-Pacific is set to overcome the reigning top spender by the end of next year. While North America is expected to have $469 billion in sales for 2014, the Asia-Pacific will take the lead at $502 billion. The gap will widen even further by 2016 &ndash; with the Asia-Pacific expected to spend $708 billion versus North America&rsquo;s $580 billion.</div>
<div>
	&nbsp;</div>
<div>
	The study also indicated that more web users in the Asia-Pacific are embracing online shopping. &ldquo;Ecommerce sales growth will be supported by an estimated 1.03 billion digital buyers around the world this year, 44.4% of whom will be in Asia-Pacific. China alone will boast 269.4 million digital buyers this year&mdash;a figure that includes internet users ages 14 and older who make at least one purchase via any digital channel during the calendar year. The US remains the country with the second-largest number of digital buyers, at 155.7 million this year,&rdquo; the study claimed. The study concludes that many web users in the Asia-Pacific who previously weren&rsquo;t buying online will decrease this year. eMarketer expects penetration to increase in China, from 40 percent last year to a projected 71 percent of internet users by 2017. Current digital buyer penetration in the U.S. is just slightly above that projection currently at 72 percent.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There is still significant room for growth, though, in developing markets where many internet users are still not buying online. Western Europe and North America are the only regions in the world where a majority of the online population is also a digital buyer,&rdquo; said the study. As countries like China increase its wealth, it becomes inevitable that more of its citizens will be connected to the web. It is logical to assume that many of those Internet users will discover the advantages (and disadvantages) of buying online.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<div>
		<strong><span style="font-size:14px;">E-markets in Nepal on the Rise</span></strong></div>
	<div>
		&nbsp;</div>
	<div>
		E-commerce market in Nepal emerged about a decade ago. Kick-started through gift-sending and bill payment services through online portals, the market went on to expand due to increasing purchasing power among Nepali consumers. Online shopping revenues have witnessed fast paced growth as the number of internet users in Nepal continues to rise. The domestic e-commerce market has now expanded into various segments such as online shopping, e-banking, mobile commerce, electronic cash transfers and e-ticketing. Time and money saving hassle-free services are seen to be the main factors in attracting internet users to online markets.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Annual online transactions in Nepal are estimated to be around Rs 10 billion, although an official figure is not available. Many online shopping websites have emerged since the inception of e-commerce in Nepal. Muncha.com, Thamel.com, Harilo.com, Yeskantipur.com, Metrotarkari.com, Foodmandu.com, Bhatbhatenionline.com and Nepbay.com are some of the popular websites among Nepali online shoppers. Some of these sell their own products whereas others deliver from global sites such as eBay and Amazon. Nepali shoppers have the option to buy products ranging from groceries and fresh vegetables to cars from online portals.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		However, lack of a clear policy is hindering the growth of online markets here. &ldquo;The government has not helped the domestic e-commerce market and neither obstructed it,&rdquo; says Balkrishna Joshi, the CEO of Thamel.com. According to Joshi, the e-commerce market in Nepal is facing problems in the bill payment system. &ldquo;Establishing a central payment gateway will solve this problem, the central bank and concerned authorities should look into this,&rdquo; Joshi said. &ldquo;Similarly, creating a safer online environment for customers will also attract more investments in e-markets here,&rdquo; he added.</div>
	<div>
		&nbsp;</div>
</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-12',
			'modified' => '2013-08-12',
			'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' => 'Independent market research firm eMarketer released a study claiming that business-to-consumer (B2C) ecommerce will increase by 17 percent globally in 2013, with worldwide sales expected to reach $1.2 trillion.',
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		'Article' => array(
			'id' => '1593',
			'article_category_id' => '135',
			'title' => 'Maximum Participation A Must For Power Summit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The Independent Power Producers&rsquo; Association Nepal (IPPAN) is organising a Power Summit on August 26 and 27 this year, an event for hydropower developers. This is the 4th such event being organised by IPPAN and invitations have already been sent to investors and foreign delegates. The organisers expect the summit to create a favourable environment for the hydropower sector. The Corporate caught up with IPPAN representatives to find out about preparations for the event. <strong>Excerpts:</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Subarna Das Shrestha, President, IPPAN" src="/userfiles/images/sds.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 174px;" /><strong>Subarna Das Shrestha</strong></div>
<div>
	<em>President, IPPAN</em></div>
<div>
	IPPAN is deeply committed towards making the event successful. We are highlighting the importance and potential of hydropower this year and spreading the word to investors, representatives from different financial institutions and foreign delegations. We are expecting around 500 participants this year and believe that if we are able to attract more foreign participants, the summit could be considered successful. If we convince the foreign delegates of our project proposals, we will be attracting investment funds from them which will help implement hydropower projects more smoothly. Similarly, we are focused to convince the government too. The ongoing power shortage is halting the growth of the economy. The summit can help in creating an environment conducive for successful completion of all hydropower projects. We are trying our best to make it informative and useful.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Khadk Bahadur Bisht Vice President, IPPAN" src="/userfiles/images/kbb.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 175px;" /><strong>Khadk Bahadur Bisht</strong></div>
<div>
	<em>Vice President, IPPAN</em></div>
<div>
	I believe that there will be maximum participation to make the Power Summit successful. Earlier, many developers came for hydropower projects but they gradually vanished which was not good for the sector. Based on this, I would say that the summit will be successful if it is able to attract developers in a large number. At a time when the energy crisis is high, the summit should be able to address the prerequisites of the hydropower sector and convince the government, developers and investors. There should be qualified speakers and appropriate projects presented to make this possible. As political instability affects economic growth, the summit should address the issue of political commitment and legal and regulatory framework. It should also address the demands of developers. Similarly, various workshops focusing on core areas, like export-oriented projects with direct foreign investment and power market mechanism, will help make the summit successful.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The Independent Power Producers’ Association Nepal (IPPAN) is organising a Power Summit on August 26 and 27 this year, an event for hydropower developers.',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1592',
			'article_category_id' => '134',
			'title' => '‘CAAN Plans To Improve Eight Airports In Remote Areas’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="Ratish Chandra Lal Suman,Director General of Civil Aviation Authority of Nepal (CAAN)." src="/userfiles/images/rcls.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 219px;" />Ratish Chandra Lal Suman</strong> is the Director General of Civil Aviation Authority of Nepal (CAAN). In an interview with <strong>Raju Baskota</strong> of The Corporate, Suman shared the plans and parameters of CAAN and the International Civil Aviation Organization (ICAO). <strong>Excerpts:&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the progress made thus far in regulating domestic and international air services and in division of work among service providers?</strong></div>
<div>
	We are in the last phase of regulating air services and the division of work. &nbsp;We are planning to finalize the process by 2015 and our consultants too have provided a report accordingly. CAAN rules need to be amended for the implementation of the report; we need government support for this and are working towards it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you elaborate on the division of work?</strong></div>
<div>
	It is important to form different committees for operating an airport, providing services and deciding its rules and regulations. This is an international practice and was discussed since the establishment of CAAN. But air services were very few then although now it is gradually increasing. A systematic process is needed for work division, which is taking time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Will differentiating work and regulation services mitigate safety risks?</strong></div>
<div>
	Yes, risk will be mitigated with these measures. Division of work will bring simplicity in work and work load will automatically grow lighter. This in turn will help in risk reduction. We also are expecting to reduce the safety challenges by regulating air services differently on the basis of domestic and international air services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What have been CAAN&rsquo;s recent achievements?</strong></div>
<div>
	We prioritized improving the standard of our airports by adding new technologies and increasing safety. The Air Traffic Controller (ATC) automation system has begun due to this and new radar will be placed by 2015 too. We are also working on minimizing safety challenges and on improving the management system.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Does CAAN itself devise the budget for the improvement of airports?</strong></div>
<div>
	Government&rsquo;s grants and the total amount of shares invested are kept in the same basket by CAAN. The aviation authority is allowed to allocate its annual revenue and the government&rsquo;s grants to areas as required. With such allocations, we have completed construction of seven airports within the past three years. CAAN is also allocating funds to improve other airports. This fiscal year, CAAN is planning to improve eight airports in remote areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is being done to operate Nepali airline services according to the standards and rules of the International Civil Aviation Organization (ICAO)?</strong></div>
<div>
	CAAN is taking gradual steps for this. Nepal is also working to have safety audits considering ICAO standards. Similarly, we are planning to set parameters for both domestic and international flights, to systemize work process and policies, focusing on the safety of air services. CAAN will request to repair the aircraft&rsquo;s system for landing and take-off and if it is not complete, we will take action accordingly.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>CAAN has added parameters for Air Operator Certificate Requirements (AOCR). Airline companies are calling it impractical. What is your take on the matter?</strong></div>
<div>
	How is it impractical? Airline companies are not behaving as per the requirement of airline services and now they are calling the new AOCR impractical. A company that can bring an airline worth Rs 500 million can obviously pay the required amount for its certification. For the smooth operation of aircraft, we have set a deposit of Rs 2.5 million for helicopters, Rs 5 million for domestic flights and Rs 500 million for international flights. This parameter must be followed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the progress on CAAN&rsquo;s decision to buy an aircraft?</strong></div>
<div>
	CAAN is a regulatory body and is supposed to develop rules and regulations, conduct frequent analyses and training. An aircraft was needed for aviation training. The Authority possessed one aircraft 10 years ago which crashed and has not been replaced since. The Authority has thus allocated Rs 570 million to buy a Twin Otter aircraft. In case this amount is insufficient, some more funds will be provided. We are planning to open a tender to bring a Twin Otter aircraft by September 2015.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>There are rumours that CAAN is buying an aircraft to only serve politicians. What do you say?</strong></div>
<div>
	&nbsp;We have considered the matter of buying an aircraft very seriously. We will form specific parameters to operate it by providing 10 per cent of the maintenance cost for regular services of aircrafts and 90 per cent for business purposes. The maintenance and insurance costs, and additional parts of the aircraft are all included in the fund allocated for its purchase.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Why is the Authority weak in keeping a clear statement of income and expenditure of airports?</strong></div>
<div>
	We are analysing the income-expenditure figures of all airports currently. If we analyse the investment and operation costs of all airports, we can see that every airport including Tribhuvan International Airport (TIA) is making a loss. As for the annual operation of flights, only seven airports in trunk routes, that have maximum passenger flows are in profit.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>CAAN has a budget of Rs 11 million for this fiscal year. Is the construction of new airports included in it?</strong></div>
<div>
	Of the total budget, Rs 7 million has come from government grants and share capital and Rs 4 million has come from the Authority&rsquo;s internal source. The total expenditure of the Authority will mainly go to the construction and capacity enhancement of airports, keeping the government&rsquo;s suggestions in consideration.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Ratish Chandra Lal Suman, the Director General of Civil Aviation Authority of Nepal (CAAN) shared the plans and parameters of CAAN and the International Civil Aviation Organization (ICAO).',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1591',
			'article_category_id' => '122',
			'title' => 'A Constant Business Endeavour',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	&nbsp;</p>
<p>
	<strong>--By TC Correspondent</strong></p>
<div>
	<div>
		&nbsp;</div>
	<table align="right" border="0" cellpadding="1" cellspacing="1">
		<tbody>
			<tr>
				<td>
					<img alt="Rajesh Kazi Shrestha,Chairman, RK Associates" src="/userfiles/images/RKS.jpg" style="width: 175px; height: 192px;" /></td>
			</tr>
			<tr>
				<td style="text-align: center;">
					<div>
						<strong>Rajesh Kazi Shrestha</strong></div>
					<div>
						Chairman, RK Associates</div>
				</td>
			</tr>
		</tbody>
	</table>
	<div>
		RK Associates and its sister concerns such as Nepal International Business (NIB) Pvt Ltd and &nbsp; Constant Business Group (CBG) are authorised dealers of Lifan&rsquo;s motorbikes and cars and the brands Zotye, Proton, Jonway and Ssangyong. In business for the past 32 years, CBG and its promoters have been trading automobiles and dealing re-conditioned and brand new vehicles in Kathmandu.</div>
	<div>
		&nbsp;</div>
	<div>
		CBG started its business by first importing Lifan motorbikes to Nepal and later assembling them here. After selling a large number of motorbikes within a short time, the company felt the need to provide after sales services and spare parts to its customers, which it has now arranged for.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Rajesh Kazi Shrestha, Chairman of RK Associates, the group of companies that runs CBG, NIB, Alliance Insurance Company Ltd, Soaltee Hotel Limited, Status Trading Pvt Ltd among other companies, said that the Lifan Company has introduced SUVs in the Chinese market and that he plans to bring them to Nepal through Nepal International Business (NIB), an authorised distributor of Zotye International Automobiles of China.</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha claims that the company has sold more than 600 Zotye SUVs in Nepal in the past five years. &ldquo;Customers demand Zotye vehicles that use Mitsubishi engines and provide power, performance and quality to their rides; we brought the Jonway SUV in order to meet their demand,&rdquo; he says.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		NIB has also brought the Zotye Nomad, a mini SUV, to Kathmandu recently. An authorised distributor of Ssangyong Automobiles of Korea too, it has also introduced the four-wheeler Korando in the Nepali market.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<span style="font-size: 14px;"><strong>Starting a Business&nbsp;</strong></span></div>
	<div>
		Shrestha&rsquo;s interest in automobiles and his family&rsquo;s background in business lured him to the field of trading vehicles. &ldquo;While I was doing my B.Com, I realised that I my fortunes were waiting for me in this line and that prompted me to jump into this sector,&rdquo; he recalls. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Given to his keen interest in vehicles since childhood, Shrestha focused himself in the trading of vehicles. He is not, however, confined only to vehicle trading but also involved in insurance, banking, food and carpets, among other businesses. CBG&rsquo;s sister enterprises are looked over by Shrestha himself while others are taken care of by his business partners.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">New Launches</span></strong></div>
	<div>
		The company introduced the Higer bus in Nepal last Wednesday. The bus&rsquo;s primary clients are tourism and travel agencies and were brought to Nepal following the request of travel entrepreneurs.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;When I told them it was hard for me to provide the service unless there was a demand for more than 12 buses, tourism entrepreneurs came jointly with an order of 10 buses,&rdquo; says Shrestha, who also claims the buses will help boost the tourism industry in Nepal. Post the bus launch, CBG has been getting an overwhelming response from the market according to Shrestha. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		This initial response, although a boost for the company&rsquo;s morale, does not ascertain success as the depreciation of the rupee is bound to affect the market price and sales of vehicles. &nbsp;&ldquo;We have requested the company to reduce the price for pre-order in bulk,&rdquo; says Shrestha, revealing some cautionary measures for market uncertainty. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Market Challenges and Prospects</span></strong></div>
	<div>
		The spiraling value of the rupee has hit businesses hard and NIB is not an exception. Though the company is satisfied with increase in sales, Shrestha says the rate of return is too low and additional vehicles are not being imported due to the escalating price of dollars. &ldquo;We are in a wait and watch mode,&rdquo; Shrestha says adding that the company does not have immediate plans for market expansion unless the rupee strengthens against the dollar.</div>
	<div>
		&nbsp;</div>
	<div>
		With various models and brands available, Shrestha regards competition due multiple choices in the market as a major challenge for his company. To overcome this, the company is keeping a vigilant eye to provide something unique to its customers. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Nepal, however, is a lucrative market for SUVs, fancy cars, motorbikes, buses and other vehicles. Provided there is political stability in the country, Shrestha sees a very good prospective for automobile business here. &ldquo;People&rsquo;s purchasing power has gone up and they are demanding more,&rdquo; he says. &ldquo;Selling more vehicles would result in big transaction which bodes well to all including businessmen, government and the people.&rdquo;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Expectations from the Government&nbsp;</span></strong></div>
	<div>
		High import duties imposed on automobiles by the government, despite Nepal&rsquo;s WTO membership and commitment to gradually reduce custom duties, is affecting vehicle sales, according to Shrestha.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Entrepreneurs like him expect the government to formulate policies and laws in line with the obligation it has made for the WTO membership.</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha also demands the government to come up with an effective plan to replace old vehicles. &ldquo;Vehicles older than 20 years should be replaced. They consume too much fuel and pollute the environment,&rdquo; he says.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Marketing Matters and the Future</span></strong></div>
	<div>
		Even though marketing work has become more simplified with information and technology, Shrestha is not satisfied with the way it is executed in Nepal. He admits that the business community here has not been able to fully tap the advantage of technology in this field. &ldquo;Sometimes, our marketing expenditure even surpasses our income,&rdquo; he says to demonstrate the point.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha emphasises the need for assessing consumer demand and market wave length as a first step to improvement. &ldquo;Our company formulates marketing strategies to increase our sales and we are trying to integrate appropriate technology in our marketing tools,&rdquo; he shares. &ldquo;But it is still uncertain as to whether investment in marketing would bring returns.&rdquo;</div>
	<div>
		&nbsp;</div>
	<div>
		With over 150 employees in total, Shrestha delegates responsibilities to a trusted team and receives updates and provides guidance through regular meetings. His future plans hinge upon the political and business climate of the country. But even as he echoes common frustrations among businessmen of a lack of encouragement for new ventures, Shrestha has not withheld from making optimistic plans for the future, for solar energy, agri-business and tourism are sectors he has kept an eye out for, he also reveals possibilities of importing airplanes from China soon.</div>
	<div>
		&nbsp;</div>
</div>
<div>
	<img alt="rk aSSOCIATES" src="/userfiles/images/spotlight1.jpg" style="width: 500px; height: 112px; margin-left: 15px; margin-right: 15px;" /></div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#FFFFFF">
				<p>
					<span style="font-size: 14px;"><b>AT A GLANCE</b></span></p>
				<div>
					<div>
						&nbsp;</div>
					<div>
						<div>
							<strong><span style="font-size:14px;">Higer Buses Launched</span></strong></div>
						<div>
							<img alt="Higer Bus" src="/userfiles/images/HIGER%20BUS.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 182px;" />Nepal International Business Pvt. Ltd has brought Higer Bus in Nepali market. The bus is produced by Higer Company of China. Tourism entrepreneurs are the main target customers of the company for these buses. &nbsp;The buses were launched by Chief Secretary Lila Mani Poudyal and Chinese Ambassador to Nepal, Wu Chuntai, amid a program in capital last week. &nbsp;Designed to suit the topography like of Nepal, the company has believed, this brand of the bus will be popular in Nepali market very soon. The newly introduced buses have the seat capacity of 29 to 35, according to the company. The company has also offered the warranty for 18 months while maintenance and the buses&rsquo; spear parts can be easily available from the company. Air condition cooling and heating, luggage compartment with cool air outlet, luxurious seats, reverse display monitor, Electrophoretic technology guarantee and corrosion resistance, among others, are the main features of the bus.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong><span style="font-size:14px;">Vehicle Brands Imported by CBG</span></strong></div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Zotye Nomad SUV</strong></div>
						<div>
							CBG is also an authorised distributor of Zotye International Automobiles of China in Nepal. The Company had also brought the Zotye Nomad mini SUV in 2011. Zotya Nomad SUV- 3,970 mm long, 1,570 mm wide and 1,733 mm tall - &nbsp; has 1,500 cc petrol engine with 16 valves and a multi-point electric fuel injection system. Zotye Nomad is available in seven colors&mdash;pure white, crystal silver, light black, pure red, light blue, dark blue and bright black.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Jonway SUV</strong></div>
						<div>
							CGP is also an authorised dealer of Jonway Companies&rsquo; products in Nepal. Jonway Auto Company is the main exporting automobile company of China. &nbsp;It has minimum grounded clearances of 200 mm. The ISO 9001: 2000 certified company has been exporting its products to around 40 countries.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>SSangYong Cars</strong></div>
						<div>
							CGP is also an authorized dealer of SsangYong, the automobile manufacturing company based in South Korea. It had introduced the new model of its second generation Korando cars in the Nepali in April, 2011. Korando brand cars are sold in 82 countries around the world. The price tag of Korando car was Rs. 4,775,000 at the time of launch.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Lifan</strong></div>
						<div>
							The sister concern of the CGP has sold Lifan motorbikes in Nepal. Later, it also started assembling the motorbikes itself in Nepal. &nbsp;The company has the service center and spare parts for Lifan customers.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Proton</strong></div>
						<div>
							Sole authorized distributor of Malaysia based auto manufacturer Proton in Nepal, CGP sells Proton Persona, Gen.2 and Savvy&mdash;in the Nepali market.&nbsp;</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
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			'description' => 'Active in business for over three decades, the Constant Business Group’s Rajesh Kazi Shrestha is now attempting to expand his turf to agriculture, tourism and solar energy.',
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			'title' => 'Corptoon Issue 26',
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			'description' => 'Corptoon Issue 26',
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			'article_category_id' => '91',
			'title' => 'Hydro Meets In The Offing',
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			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The Independent Power Association of Nepal (IPPAN) and Hydroelectricity Investment and Development Company Limited (HIDCL) will be organising consecutive meetings of the hydro power sector from August 26-29.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hosting the Power Summit 2013 on August 26-27, IPPAN is collaborating with PTC India limited (PTC) and the Nonresident Nepali association (NRNA) to catalyze the hydropower sector in the face of political instability. The power summit will conduct a critical review of where the hydropower sector has reached since 2006, assessing what is lacking and what needs to be in place in order to hasten the pace of the sector.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	A key point to be raised is the seven-year period of slow growth of the sector which has only been able to generate 180 MW of electricity &ndash; 110 MW coming from the private sector and 70 MW from the NEA. Participants of the event include stakeholders from Brazil, China, Czech Republic, France, India, Korea, Nepal, Norway and USA.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meetings on August 28-29 include a hydropower investment meet by HIDCL supported by the Ministry of Energy, the Ministry of Finance, The Investment Board of Nepal (IBN) and the Asian Development Bank (ADB). Major attractions include the participation of international and domestic hydropower developers, investment companies, sovereign wealth funds and utility companies. The programme will focus on a long overdue follow-up by the investor&rsquo;s forum and a reflection by ADB. &nbsp;</div>
<div>
	&nbsp;</div>',
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			'description' => 'The Independent Power Association of Nepal (IPPAN) and Hydroelectricity Investment and Development Company Limited (HIDCL) will be organising consecutive meetings of the hydro power sector from August 26-29.',
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			'id' => '1588',
			'article_category_id' => '91',
			'title' => 'NPR Depreciation Taking Toll On Nepali Economy',
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			'content' => '<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	The sharp devaluation of the Nepali rupee (NPR) is causing various macroeconomic impacts on the Nepali economy. The local currency which maintains an exchange rate peg with the Indian rupee (INR) has depreciated by about 13 per cent between 1st May and 9th August of 2013 against the US dollar. The weakness of INR is caused by India&rsquo;s slowing economic growth combined with a widening current account deficit (mainly due to rising petroleum and gold imports), decline in exports and the strengthening of the US dollar as economic recovery in the US gathers pace. &nbsp; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the NPR continuously losing strength against the USD, the Nepali economy is facing significant negative impacts. As the USD becomes dearer, Nepal needs to allocate a huge sum of funds for foreign loan repayment. The strengthening USD is pushing interest rates higher and exerting pressure on the central bank to manage a huge foreign currency reserve for loan repayment. This will increase the country&rsquo;s debt which was 34.1 per cent of the gross domestic product (GDP) in the fiscal year 2011/12. Nepal&rsquo;s debt to GDP ratio is following a declining trend from the record high of 44 per cent in FY 2007/08.</div>
<div>
	&nbsp;</div>
<div>
	The currency devaluation is also likely to further widen trade deficit with India, the largest trading partner of Nepal. This is due to import payments that are made in USD, which is done by selling INR from Nepal&rsquo;s forex reserve. Since the INR has plunged to a historic low against the USD, Nepal is forced to sell more INR for import payments. In the 11 months of FY 2012/13, Nepal&rsquo;s trade deficit with India jumped by 27.4 per cent to Rs 289 billion compared to the 13 per cent growth recorded in FY 2011/12. Since Nepali production is insufficient to fulfill internal demand, the country relies heavily on import. This will be reflected in the increase of the final price of retails goods and services in the domestic market. Petroleum import will also become costlier due to the currency devaluation. The international petroleum price, which is maintained in dollar terms, has gone up in recent months due to the rise of USD.</div>
<div>
	&nbsp;</div>
<div>
	Nepal imports petroleum through the state-owned Indian Oil Corporation (IOC). The price rise in petroleum, retail goods and services will finally lead to an increased inflation rate.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the impacts are largely negative, currency devaluation has some positive effects like Remittance, Nepal&rsquo;s major source of foreign currency income is likely to rise by the strengthening of the USD. This will help to maintain the country&rsquo;s balance of payment (BOP) surplus. According to data published by Nepal Rastra Bank (NRB), the overall BOP recorded a surplus of Rs. 52.69 billion during the 11 months of FY 2012/13 compared to a surplus of Rs. 115.76 billion during the same period of the previous year. Likewise, income from tourism will also increase as foreign visitors can spend more following the dollar appreciation. Similarly, Nepali export earnings, especially from merchandise goods such as handicrafts, garments and carpets may increase as exports will become more competitive with the weakening of domestic currency. However, Nepal may not be able to take advantage of currency depreciation from export earnings due to several reasons. High cost of production due to rising price of imported raw materials, long-standing electricity shortages and labour disputes are seen as factors hindering the country&rsquo;s export sector.&nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-11',
			'modified' => '2013-08-11',
			'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 sharp devaluation of the Nepali rupee (NPR) is causing various macroeconomic impacts on the Nepali economy.',
			'sortorder' => '1449',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '1587',
			'article_category_id' => '91',
			'title' => 'Govt Indifference Puts Investment Board At Limbo',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	Thanks to the government&rsquo;s gross indifference towards the Investment Board (IB), which was established with an authority to create investment friendly environment, is now rendered in a dysfunctional state. Even after two years of establishment, the IB hasn&rsquo;t been able to lure any single major project despite its lofty plans to promote national and foreign investments.</div>
<div>
	&nbsp;</div>
<div>
	The Investment Board Nepal was established as a one-stop service centre for foreign and local investors two years ago under the Investment Board Nepal Act, 2068.</div>
<div>
	&nbsp;</div>
<div>
	The Babu Ram Bhattarai-led government had handed over a total of 14 mega projects, including five large hydropower projects, to the IB in May 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It aims to promote economic development by mobilizing and managing public-private partnership, cooperative and domestic and foreign private investments.</div>
<div>
	&nbsp;</div>
<div>
	Chairman of Interim Election Council Khilraj Regmi is the Chairman of the IB, while he has deputed Federal Affairs and Local Development and Health and Population Minister Bidyadhar Mallik to assume the role of Vice-chairperson in the 11-member board.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Finance Minister, Forestry Minister and Industry Minister are also the board members for the IB. However, according to a source inside the IB seeking anonymity complained that none of the ministries have been much supportive towards the Board.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government hasn&rsquo;t yet provided the human resources required to the Board for the smooth functioning and to facilitate the large scale investment projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Allocating a budget of Rs 120.9 million &nbsp;to the Board for FY 2013-14, Finance Minister Shankar Koirala has stated that the mechanism would be made resourceful. But economic analysts lament that the budget falls short in addressing the expectations to enhance the institutional capacity as well as equipping it with the technical experts.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Mukunda Paudyal, Joint-Secretary at the IB, informed that the budget allocated by the government to the Board in one-third of the Board&rsquo;s demand.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Budget apart, we have made many policy prescriptions to the government and asked it to amend the laws related to investment. However, the government turned deaf ear towards our recommendation,&rdquo; he told The Corporate.</div>
<div>
	&nbsp;</div>
<div>
	The absence of the legislative parliament has also posed a problem for amending laws that are creating hurdles for the investment friendly atmosphere. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The structure of the Investment Board is also a stumbling block towards attracting investors on the sectors that the IB has prioritized, another official in the IB told The Corporate seeking anonymity. He further explained that the Board comprises the members from the business community too who are not much welcoming the new investors in the same field much members are involved. &ldquo;They have also investment in the priority sectors of the IB so they might not be interested to bring other investors in the same sectors. There is conflict of interest.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Likewise, the government is less bothered to own the work of the IB, a source said. &ldquo;We are in the process of doing the Power Development Agreement for four hydro power projects now. If there was a political government, it could have given impetus to complete these projects,&rdquo; he argued, &ldquo;as owning these achievements after bringing the large investors in these projects could mean a lot in terms of political capitalization.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the much touted Investment Year 2012-13 turned to be a non-starter. It failed to yield any tangible result despite its claim that it would attract major foreign investments during this celebrated year. The IB hasn&rsquo;t even been able to chart out the strategy to bring big foreign investors in Nepal. &ldquo;We haven&rsquo;t made it yet due to our busy schedule and owing to the country&rsquo;s political situation,&rdquo; Poudyal said.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-11',
			'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' => 'Thanks to the government’s gross indifference towards the Investment Board (IB), which was established with an authority to create investment friendly environment, is now rendered in a dysfunctional state.',
			'sortorder' => '1448',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '1586',
			'article_category_id' => '34',
			'title' => 'Volkswagen Sales In Nepal Reaches 1000 Units',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Pooja International Nepal, authorised importer of Volkswagen, organised a press meet to celebrate the sales of 1000th Volkswagen in Nepal. Henning Hansen, First Secretary, Charg&eacute; d&#39; Affaires, German Embassy Kathmandu was the chief guest for the programme. He handed over the car key of New Passat to Jimmy Shrestha, the 1000th owner of Volkswagen cars in Nepal. Shrestha, the Director of Hatale Udhyog in Sitapaila, said, &quot;Volkswagen has always been known for outstanding driving pleasure, safety and comfort besides its elegant design and styling. I am proud and delighted to own the 1000th Volkswagen in Nepal.&quot;<br />
	<br />
	Bibek Bijukchhe, Chief Executive Officer of Pooja International Nepal, said, &ldquo;Volkswagen has been able to compete in the mass segment while being known for their superior built quality. It&rsquo;s the brand, man, machine and network which helped us win the hearts of Nepali customers in just around three years.&rdquo; &ldquo;We have a target to deliver 800 Volkswagen cars nationwide in fiscal year 2070/71,&rdquo; said Sarik Bogati, Marketing Manager of Pooja International Nepal.The programme was organised at the Volkswagen Showroom in Lazimpat.<br />
	<br />
	<br />
	&nbsp;<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-10',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'Pooja International Nepal, authorized importer of Volkswagen, organized a press meet to celebrate the sales of 1000th Volkswagen in Nepal. Henning Hansen, First Secretary, Chargé d' Affaires, German Embassy Kathmandu was the chief guest for the programme.',
			'sortorder' => '1447',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '1585',
			'article_category_id' => '34',
			'title' => 'Colors Introduce X 109',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Colors Mobile is known for its premium yet affordable series of mobile phones. And it continues to expand its series with the latest offering &ndash; X 109 under its X series phones. So if you are looking for a feature-rich phone with a price tag that comes under a reasonable range, Colors X 109 is the answer for you.<br />
	<br />
	X 109 comes with 3.5 inch HVGA (480x320) capacitive multi-touch screen that gives you smooth touch experience. This phone flaunts an impressive design with curved back and edges. Packed with 1.3 MP Camera, this phone is loaded with many other features like the inbuilt Audio/Video Player of the phone that allows you to watch videos and capture/record life&rsquo;s special moments and a powerful battery of 1000 mAh that provides a longer talk time and a freedom from frequent charging.<br />
	<br />
	X 109 supports GPRS connection and has WI-FI support system enabling you to experience internet at its best. The phone also has some exciting inbuilt apps such as Facebook and Opera. While a feature such as the Bluetooth technology helps in adding hands free comfort, another feature like &lsquo;Analog TV&rsquo; allows you to watch your favorite programme on your mobile phone. X 109 also has a wireless FM radio so you can have your favourite radio stations on the fingertips.<br />
	&nbsp;<br />
	There is one year warranty on the mobile handset and six months warranty on battery and charger.<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-08',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'Colors Mobile is known for its premium yet affordable series of mobile phones. And it continues to expand its series with the latest offering – X 109 under its X series phones. So if you are looking for a feature-rich phone with a price tag that comes under a reasonable range, Colors X 109 is the answer for you.',
			'sortorder' => '1446',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '1584',
			'article_category_id' => '34',
			'title' => 'Everest Bank’s Asha 2070 Fixed Deposit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	As a part of its continuous efforts to provide innovative products/services, EBL recently launched a new deposit product called &ldquo;Asha 2070 Fixed Deposit&rdquo;. The new scheme has been launched with an objective of inculcating habit of long-term savings among the General Public. The product is targeted at the individuals intended to have higher return than the regular Fixed Deposit over a period of time.<br />
	<br />
	Under this scheme, the deposit not only attracts higher rate of interest but also accumulates a handsome amount with quarterly compounded interest during a period of 2070 days. Further, the customers will also have other privileges like 50 percent discount on annual locker charge as well as the waiver of security deposit during the tenure of Deposit.<br />
	<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-06',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'As a part of its continuous efforts to provide innovative products/services, EBL recently launched a new deposit product called “Asha 2070 Fixed Deposit”. The new scheme has been launched with an objective of inculcating habit of long-term savings among the General Public. The product is targeted at the individuals intended to have higher return than the regular Fixed Deposit over a period of time.',
			'sortorder' => '1445',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '1583',
			'article_category_id' => '150',
			'title' => 'Business Briefs (5 -11 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="eScan Version 14" src="/userfiles/images/ESCAN.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 74px;" />eScan Version 14 Introduced&nbsp;</strong></div>
<div>
	Phoenix Trading, eScan Authorized Distributor for Nepal has launched eScan Version 14 for SOHO editions with cloud security. According to the company, the new version aims to provide a secured computing environment, and is in accordance with the feedback from global users. eScan 14 has been developed to be very light on system resources and does not slowdown the user&rsquo;s system, says a press release from the company.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="The British College" src="/userfiles/images/TBC.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 71px;" />Open Day at The British College&nbsp;</strong></div>
<div>
	The British College organised Open Day for interested students on July 31. Participating students received a detailed presentation from International Education Consultant, Graham Minshaw. During the presentation, Graham discussed the UK education system and informed students what they should expect when studying on a UK degree.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Tata Safari " src="/userfiles/images/TTSFR.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 80px;" />Tata Safari Storme in Nepal&nbsp;</strong></div>
<div>
	Siprdai Trading has launched Tata Safari Storme in the Nepali market. Dubbed as the &lsquo;Real SUV&rsquo;, Storme is claimed to be the combination of luxury, power and off-road performance. The SUV is powered by a 2.2 litre VariCOR turbocharged engine delivering a maximum output of 140 ps and a peak torque of 320 NM. According to the company, the SUV can accelerate from 0 to 100 kms in 14 seconds. The price of Safari Storme starts from Rs 3.78 million.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Gitanjali Jewels" src="/userfiles/images/GITANJALI.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 46px;" />Gitanjali&rsquo;s Facebook Offer&nbsp;</strong></div>
<div>
	Gitanjali Jewels has introduced an offer on its official facebook page as a part of its online promotion. The offer is named &lsquo;Like and Win a Diamond Pendant&rsquo;, and users liking the Gitanjali page on facebook will win a diamond pendant worth Rs 10,000. Two Lucky winners will be selected every week through a random lucky draw. The link to Gitanjali facebook page is www. &nbsp; &nbsp;facebook.com/GitanjaliJewelsNepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Samsung’s New Smartphones" src="/userfiles/images/SMSNG.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 61px;" />Samsung&rsquo;s New Smartphones&nbsp;</strong></div>
<div>
	Samsung has introduced three new smartphones in the market, namely Galaxy Mega, Galaxy Core and Galaxy Pocket Neo. Galaxy Mega comes with a 5.8 inch screen and runs on Android 4.2.2, and has 1.5 GB RAM and 1.4 GHz dual-core processor. It is priced at Rs 44,000. Galaxy Core is a dual SIM smartphone with android 4.1 OS, 4.3&rdquo; screen, 1 GB RAM and 1.2 GHz Dual Core Processor and costs Rs 28,500. Dual SIM Galaxy Pocket Neo has android 4.1.2 OS, 512 MB RAM and is priced at Rs 12,300.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-06',
			'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' => 'Phoenix Trading, eScan Authorized Distributor for Nepal has launched eScan Version 14 for SOHO editions with cloud security.',
			'sortorder' => '1444',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1582',
			'article_category_id' => '149',
			'title' => 'Quality Is A Sign Of Success',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Devraj Mishra ,Chairman Karuna Interior Pvt Ltd" src="/userfiles/images/DEVRAJ.jpg" style="width: 175px; height: 192px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Devraj Mishra</strong></div>
				<div>
					Chairman</div>
				<div>
					Karuna Interior Pvt Ltd</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Karuna Interior Pvt Ltd, a familiar name for interior works and furniture was established in 1990. After three years of operation, the company expanded itself to the field of metal structural works and aluminum fabrication.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Named after the mother of chairman, Devraj Mishra, the venture began as a family business which commenced wooden furniture manufacturing in 2005. With the widening scope of furniture business, Karuna has enhanced its services and has now become one of the best interior service providers in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;What we create for you is not our creation, but your own,&rdquo; says chairman Mishra, explaining the company&rsquo;s tagline &ldquo;The user is the dreamer; the dreamer, the owner&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have a variety of products and they are popular among our clients not only due to the reasonable price but also for our prompt service, amazing designs and best quality materials,&rdquo; added Mishra.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With more than 40 employees at present, the company faced many ups and downs from its inception to its current market status. &ldquo;Our main hurdles ranged from the lack of knowledge among customers on interior design and conventional practice of not adhering to advice, poor discussion during design phase, the inability to visualise the end product and demands for change after work is done with,&rdquo; informed Mishra.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Considering all problems and crises as good lessons, the company actively introduced a new technique to run business and has been dealing with interior design related products and services among customers who want to decorate residential buildings, offices in commercial complexes or private buildings.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company asserts that its target groups are middle and upper-middle class families - their individual homes, apartments or rented living spaces; banks and financial institutions, corporate business houses, hotels/ restaurants, schools/colleges and government offices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With a single outlet at Gairidhara Kathmandu, the company&rsquo;s market mostly extends to the Capital only. According to Executive Director Bipin Sharma, the company is focused on customer satisfaction with after sales service quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company does not believe in competition as it believes that the best one always stands out without having to compete. &ldquo;The brand name is a strength in itself and our dedication towards our customers will ensure its strength in the future,&rdquo; adds Sharma.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sharma says the company has annual advertisement plan through print media. The company focus on social networking as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With plans to construct a well-equipped factory in Dahachok, Kathmandu and an expanding showroom space in Gairidhara, the team at Karuna Interior Pvt. Ltd. continues to provide satisfying services to its customers.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-06',
			'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' => 'Karuna Interiors Pvt Ltd has come a long way in establishing its market in interior design services',
			'sortorder' => '1443',
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	(int) 13 => array(
		'Article' => array(
			'id' => '1581',
			'article_category_id' => '115',
			'title' => 'Lifestyle And Technology News In Brief (5-11 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>Humanoid Robot Launches on Japan Rocket&nbsp;</strong></div>
<div>
	<img alt="Humanoid Robot Launches on Japan Rocket" src="/userfiles/images/humanoid.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 87px;" />Japan&rsquo;s space agency says the first talking humanoid robot &ldquo;astronaut&rsquo;&rsquo; has taken off in a rocket. Kirobo derived from the Japanese words for &ldquo;hope&rsquo;&rsquo; and &ldquo;robot&rsquo;&rsquo; _ was among five tons of supplies and machinery on a rocket launched Sunday for the International Space Station from Tanegashima, southwestern Japan. Developers say the childlike robot will be a companion for astronaut Koichi Wakata and will communicate with another robot on Earth. Robot designer Tomotaka Takahashi, of the University of Tokyo, advertiser Dentsu and automaker Toyota Motor Corp. worked on the robot.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Apple Once Again the World&rsquo;s Most Valuable Company&nbsp;</strong></div>
<div>
	<img alt="Apple Once Again the World’s Most Valuable Company " src="/userfiles/images/apple.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 64px;" />Apple has again become the world&rsquo;s most valuable company as rumors of upcoming next-generation iPhones and iPads are spreading. Apple toppled Exxon Mobil from its number one spot as its market capitalization went up by 0.9% to $414 bn. Exxon overtook Apple&rsquo;s market cap in late January of this year, amidst a continued sell-off of its stock. It lost the title last Thursday as its shares were down 1.8% on its disappointing earnings report, giving the firm a market capitalization of $409bn, Market Watch reports. Apple share price has last reached $457. However, the company is still $100 short from the beginning of 2013. Last September 2012, the company&rsquo;s share price went as high as $700, its highest so far. Investors are hoping that the company can now gain its momentum as consumers anticipate the debuts of the iPhone 5S, iPhone 5C, which is a low-cost iPhone, a fifth-generation iPad, an iPad mini with retina display and iWatch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Google to Bring &lsquo;Find My Device&rsquo; Feature to Android&nbsp;</strong></div>
<div>
	<img alt="Android Operating System maker Google" src="/userfiles/images/google%20android.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 72px;" />Android Operating System maker Google announced that it will offer a new service to help users keep track of their Android devices from afar. The service, called Android Device Manager, is similar to the &ldquo;Find My iPhone&rdquo; service outed by Apple in 2011, and enables Android phone and tablet owners to remotely find and manage their lost devices. Users will be able to view the current location of their devices on a map; lock their devices remotely; or, if they think a device has been stolen, activate a noisy alarm in order to ward off thieves, or erase all memory on their device. All of this can be done by logging into the Android Device Manager website on any laptop, desktop or other mobile device. The feature will become available later this month and will be able to track all devices running Android 2.2 or newer; a companion app will also be available for download in the Google Play Store.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Valve Appoints Gaming Economist&nbsp;</strong></div>
<div>
	<img alt="Valve Appoints Gaming Economist" src="/userfiles/images/vALVE.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 90px;" />Game maker Valve has appointed an in-house economist to help manage the virtual economies that have sprung up around its many titles. The company has signed up economics professor Yanis Varoufakis as their resident expert adviser. Valve contacted Prof Varoufakis as it started to think about linking game economies and hit virtual currency exchange problems. It comes as South Korea attempts to crack down on trading in video games. In a blog explaining how he came to work for Valve, Prof Varoufakis said first contact was made by Gabe Newell, president of the games company.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Japan’s space agency says the first talking humanoid robot “astronaut’’ has taken off in a rocket.',
			'sortorder' => '1442',
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	(int) 14 => array(
		'Article' => array(
			'id' => '1580',
			'article_category_id' => '116',
			'title' => 'Sony Launches New Bravia Models In Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Japanese television manufacturer Sony has launched its latest range of HD Bravia TVs in Nepali market. The TVs are equipped with latest version of Wi-Fi connectivity. &ldquo;Announced earlier at the Consumer Electronic Show (CES), the new W- and R-series LED models are now available in Nepal and optimises Sony&rsquo;s proprietary technology to deliver images with vibrant hues and sounds with deeper bass and crystal-clear clarity,&rdquo; says a statement by Nepa Hima Trade Link, the authorised distributor of Sony&rsquo;s products for Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sony has used a new display technology termed as Triluminos in the latest Bravia models. The technology uses integrating QD Vision&rsquo;s Color IQ1 optical component with Sony&rsquo;s unique display technologies to reproduce a higher gamut of colours on screen, making display images appear more life-like and vivid. With 1 Color IQ and the Color IQ logo are trademarks of QD Vision, Inc. Color IQTM is an advanced light emitting semiconductor technology developed by QD Vision, Inc. &ldquo;Using this technology images on the Bravia KDL-W954A and Bravia KDL-W904A become more appealing, colours appear richer and there is a greater sense of depth,&rdquo; states the statement. Similarly, Sony also claimed that the enhanced XReality Pro picture engine (present in the new W-series models) delivers unprecedented picture quality and when coupled with the Triluminos display, &ldquo;makes one feel like you&rsquo;re looking through an open window panel.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The new Bravia lineup is also equipped with latest sound system. The TVs come with Sony&rsquo;s patented Signal-to-Sound Architecture, which employs the latest sound-engineering techniques for immersive audio experience. The KDL-W954A houses an ultra-slim two-way bass reflex speaker and stand-alone tweeter in an isolated cabinet to minimise acoustic energy being lost or distorted inside the box, while the KDL-W904A uses a discreetly integrated 1.2m speaker duct to evoke unparalleled bass and mid-range sounds for a unit of its size. The other three W-series models (KDL-W804A, KDL-W704A and KDL-W674A) come equipped with a compact bass reflex speaker.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Another key feature in the series includes Sony&rsquo;s One-touch mirroring function. Employing NFC technology, users can wirelessly amplify content, be it videos, images or applications, from their smartphones on to their TV screens with a single tap. A similar function to One-touch, Screen mirroring functionality provides users of the BRAVIA KDL-W804A, KDL-W704A, KDL-W674A and KDL-R550A with the option to wirelessly mirror and share video and audio content via their Miracast supported mobile devices, such as the Sony Xperia Z, V, SP and L.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The TVs are preloaded withTV Sideview application that allows a user to control the W-series models using a smartphone or tablet. Available on both Android and iOS platforms, the app also provides supplementary content such as cast details, episode synopsis and related programmes that might be of interest to the user.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Sony, the latest Bravia line-up also fulfils the needs of gamers. The TVs comes with 3D Simulview feature that allows two simultaneous players to play against each other without seeing a split screen. First showcased on Sony&rsquo;s flagship 84&rdquo; 4K TV last year, this year&rsquo;s offerings now all offer either active or passive 3D Simulview gaming capability in Full HD.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The new range of Bravia TVs will be available in Nepal from Rs 84,999.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Japanese television manufacturer Sony has launched its latest range of HD Bravia TVs in Nepali market.',
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		'Article' => array(
			'id' => '1594',
			'article_category_id' => '137',
			'title' => 'Global Ecommerce To Top $1.2 Tn, Driven By Asia-Pacific Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Independent market research firm eMarketer released a study claiming that business-to-consumer (B2C) ecommerce will increase by 17 percent globally in 2013, with worldwide sales expected to reach $1.2 trillion. The Asia-Pacific region is driving ecommerce growth more than any other, and is expected to outpace the rest of the world at 23 percent growth over last year. China and Indonesia are leading the region&rsquo;s growth. &ldquo;Asia-Pacific already accounts for nearly a third of all B2C ecommerce sales in the world, a share of the total just below North America&rsquo;s. Next year, Asia-Pacific will lead all regions in share of the worldwide total spent online,&rdquo; the study asserted.</div>
<div>
	&nbsp;</div>
<div>
	Indonesia is expected to see ecommerce growth up 65 percent compared to 2012. China is up 71 percent over last year. Comparatively, the U.S. expects only a 12 percent rise in ecommerce by the end of the year.</div>
<div>
	&nbsp;</div>
<div>
	While the Asia-Pacific leads in growth, North America maintains its lead in actual sales. North America spent $373 billion in 2012, which is expected to rise to $420 billion in 2013. The Asia-Pacific spent $316 billion in 2012 and eMarketer anticipates $389 billion to be spent this year. However, the Asia-Pacific is set to overcome the reigning top spender by the end of next year. While North America is expected to have $469 billion in sales for 2014, the Asia-Pacific will take the lead at $502 billion. The gap will widen even further by 2016 &ndash; with the Asia-Pacific expected to spend $708 billion versus North America&rsquo;s $580 billion.</div>
<div>
	&nbsp;</div>
<div>
	The study also indicated that more web users in the Asia-Pacific are embracing online shopping. &ldquo;Ecommerce sales growth will be supported by an estimated 1.03 billion digital buyers around the world this year, 44.4% of whom will be in Asia-Pacific. China alone will boast 269.4 million digital buyers this year&mdash;a figure that includes internet users ages 14 and older who make at least one purchase via any digital channel during the calendar year. The US remains the country with the second-largest number of digital buyers, at 155.7 million this year,&rdquo; the study claimed. The study concludes that many web users in the Asia-Pacific who previously weren&rsquo;t buying online will decrease this year. eMarketer expects penetration to increase in China, from 40 percent last year to a projected 71 percent of internet users by 2017. Current digital buyer penetration in the U.S. is just slightly above that projection currently at 72 percent.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There is still significant room for growth, though, in developing markets where many internet users are still not buying online. Western Europe and North America are the only regions in the world where a majority of the online population is also a digital buyer,&rdquo; said the study. As countries like China increase its wealth, it becomes inevitable that more of its citizens will be connected to the web. It is logical to assume that many of those Internet users will discover the advantages (and disadvantages) of buying online.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<div>
		<strong><span style="font-size:14px;">E-markets in Nepal on the Rise</span></strong></div>
	<div>
		&nbsp;</div>
	<div>
		E-commerce market in Nepal emerged about a decade ago. Kick-started through gift-sending and bill payment services through online portals, the market went on to expand due to increasing purchasing power among Nepali consumers. Online shopping revenues have witnessed fast paced growth as the number of internet users in Nepal continues to rise. The domestic e-commerce market has now expanded into various segments such as online shopping, e-banking, mobile commerce, electronic cash transfers and e-ticketing. Time and money saving hassle-free services are seen to be the main factors in attracting internet users to online markets.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Annual online transactions in Nepal are estimated to be around Rs 10 billion, although an official figure is not available. Many online shopping websites have emerged since the inception of e-commerce in Nepal. Muncha.com, Thamel.com, Harilo.com, Yeskantipur.com, Metrotarkari.com, Foodmandu.com, Bhatbhatenionline.com and Nepbay.com are some of the popular websites among Nepali online shoppers. Some of these sell their own products whereas others deliver from global sites such as eBay and Amazon. Nepali shoppers have the option to buy products ranging from groceries and fresh vegetables to cars from online portals.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		However, lack of a clear policy is hindering the growth of online markets here. &ldquo;The government has not helped the domestic e-commerce market and neither obstructed it,&rdquo; says Balkrishna Joshi, the CEO of Thamel.com. According to Joshi, the e-commerce market in Nepal is facing problems in the bill payment system. &ldquo;Establishing a central payment gateway will solve this problem, the central bank and concerned authorities should look into this,&rdquo; Joshi said. &ldquo;Similarly, creating a safer online environment for customers will also attract more investments in e-markets here,&rdquo; he added.</div>
	<div>
		&nbsp;</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'Independent market research firm eMarketer released a study claiming that business-to-consumer (B2C) ecommerce will increase by 17 percent globally in 2013, with worldwide sales expected to reach $1.2 trillion.',
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	(int) 1 => array(
		'Article' => array(
			'id' => '1593',
			'article_category_id' => '135',
			'title' => 'Maximum Participation A Must For Power Summit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The Independent Power Producers&rsquo; Association Nepal (IPPAN) is organising a Power Summit on August 26 and 27 this year, an event for hydropower developers. This is the 4th such event being organised by IPPAN and invitations have already been sent to investors and foreign delegates. The organisers expect the summit to create a favourable environment for the hydropower sector. The Corporate caught up with IPPAN representatives to find out about preparations for the event. <strong>Excerpts:</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Subarna Das Shrestha, President, IPPAN" src="/userfiles/images/sds.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 174px;" /><strong>Subarna Das Shrestha</strong></div>
<div>
	<em>President, IPPAN</em></div>
<div>
	IPPAN is deeply committed towards making the event successful. We are highlighting the importance and potential of hydropower this year and spreading the word to investors, representatives from different financial institutions and foreign delegations. We are expecting around 500 participants this year and believe that if we are able to attract more foreign participants, the summit could be considered successful. If we convince the foreign delegates of our project proposals, we will be attracting investment funds from them which will help implement hydropower projects more smoothly. Similarly, we are focused to convince the government too. The ongoing power shortage is halting the growth of the economy. The summit can help in creating an environment conducive for successful completion of all hydropower projects. We are trying our best to make it informative and useful.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Khadk Bahadur Bisht Vice President, IPPAN" src="/userfiles/images/kbb.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 175px;" /><strong>Khadk Bahadur Bisht</strong></div>
<div>
	<em>Vice President, IPPAN</em></div>
<div>
	I believe that there will be maximum participation to make the Power Summit successful. Earlier, many developers came for hydropower projects but they gradually vanished which was not good for the sector. Based on this, I would say that the summit will be successful if it is able to attract developers in a large number. At a time when the energy crisis is high, the summit should be able to address the prerequisites of the hydropower sector and convince the government, developers and investors. There should be qualified speakers and appropriate projects presented to make this possible. As political instability affects economic growth, the summit should address the issue of political commitment and legal and regulatory framework. It should also address the demands of developers. Similarly, various workshops focusing on core areas, like export-oriented projects with direct foreign investment and power market mechanism, will help make the summit successful.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The Independent Power Producers’ Association Nepal (IPPAN) is organising a Power Summit on August 26 and 27 this year, an event for hydropower developers.',
			'sortorder' => '1454',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1592',
			'article_category_id' => '134',
			'title' => '‘CAAN Plans To Improve Eight Airports In Remote Areas’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="Ratish Chandra Lal Suman,Director General of Civil Aviation Authority of Nepal (CAAN)." src="/userfiles/images/rcls.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 219px;" />Ratish Chandra Lal Suman</strong> is the Director General of Civil Aviation Authority of Nepal (CAAN). In an interview with <strong>Raju Baskota</strong> of The Corporate, Suman shared the plans and parameters of CAAN and the International Civil Aviation Organization (ICAO). <strong>Excerpts:&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the progress made thus far in regulating domestic and international air services and in division of work among service providers?</strong></div>
<div>
	We are in the last phase of regulating air services and the division of work. &nbsp;We are planning to finalize the process by 2015 and our consultants too have provided a report accordingly. CAAN rules need to be amended for the implementation of the report; we need government support for this and are working towards it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you elaborate on the division of work?</strong></div>
<div>
	It is important to form different committees for operating an airport, providing services and deciding its rules and regulations. This is an international practice and was discussed since the establishment of CAAN. But air services were very few then although now it is gradually increasing. A systematic process is needed for work division, which is taking time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Will differentiating work and regulation services mitigate safety risks?</strong></div>
<div>
	Yes, risk will be mitigated with these measures. Division of work will bring simplicity in work and work load will automatically grow lighter. This in turn will help in risk reduction. We also are expecting to reduce the safety challenges by regulating air services differently on the basis of domestic and international air services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What have been CAAN&rsquo;s recent achievements?</strong></div>
<div>
	We prioritized improving the standard of our airports by adding new technologies and increasing safety. The Air Traffic Controller (ATC) automation system has begun due to this and new radar will be placed by 2015 too. We are also working on minimizing safety challenges and on improving the management system.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Does CAAN itself devise the budget for the improvement of airports?</strong></div>
<div>
	Government&rsquo;s grants and the total amount of shares invested are kept in the same basket by CAAN. The aviation authority is allowed to allocate its annual revenue and the government&rsquo;s grants to areas as required. With such allocations, we have completed construction of seven airports within the past three years. CAAN is also allocating funds to improve other airports. This fiscal year, CAAN is planning to improve eight airports in remote areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is being done to operate Nepali airline services according to the standards and rules of the International Civil Aviation Organization (ICAO)?</strong></div>
<div>
	CAAN is taking gradual steps for this. Nepal is also working to have safety audits considering ICAO standards. Similarly, we are planning to set parameters for both domestic and international flights, to systemize work process and policies, focusing on the safety of air services. CAAN will request to repair the aircraft&rsquo;s system for landing and take-off and if it is not complete, we will take action accordingly.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>CAAN has added parameters for Air Operator Certificate Requirements (AOCR). Airline companies are calling it impractical. What is your take on the matter?</strong></div>
<div>
	How is it impractical? Airline companies are not behaving as per the requirement of airline services and now they are calling the new AOCR impractical. A company that can bring an airline worth Rs 500 million can obviously pay the required amount for its certification. For the smooth operation of aircraft, we have set a deposit of Rs 2.5 million for helicopters, Rs 5 million for domestic flights and Rs 500 million for international flights. This parameter must be followed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the progress on CAAN&rsquo;s decision to buy an aircraft?</strong></div>
<div>
	CAAN is a regulatory body and is supposed to develop rules and regulations, conduct frequent analyses and training. An aircraft was needed for aviation training. The Authority possessed one aircraft 10 years ago which crashed and has not been replaced since. The Authority has thus allocated Rs 570 million to buy a Twin Otter aircraft. In case this amount is insufficient, some more funds will be provided. We are planning to open a tender to bring a Twin Otter aircraft by September 2015.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>There are rumours that CAAN is buying an aircraft to only serve politicians. What do you say?</strong></div>
<div>
	&nbsp;We have considered the matter of buying an aircraft very seriously. We will form specific parameters to operate it by providing 10 per cent of the maintenance cost for regular services of aircrafts and 90 per cent for business purposes. The maintenance and insurance costs, and additional parts of the aircraft are all included in the fund allocated for its purchase.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Why is the Authority weak in keeping a clear statement of income and expenditure of airports?</strong></div>
<div>
	We are analysing the income-expenditure figures of all airports currently. If we analyse the investment and operation costs of all airports, we can see that every airport including Tribhuvan International Airport (TIA) is making a loss. As for the annual operation of flights, only seven airports in trunk routes, that have maximum passenger flows are in profit.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>CAAN has a budget of Rs 11 million for this fiscal year. Is the construction of new airports included in it?</strong></div>
<div>
	Of the total budget, Rs 7 million has come from government grants and share capital and Rs 4 million has come from the Authority&rsquo;s internal source. The total expenditure of the Authority will mainly go to the construction and capacity enhancement of airports, keeping the government&rsquo;s suggestions in consideration.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-12',
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			'description' => 'Ratish Chandra Lal Suman, the Director General of Civil Aviation Authority of Nepal (CAAN) shared the plans and parameters of CAAN and the International Civil Aviation Organization (ICAO).',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1591',
			'article_category_id' => '122',
			'title' => 'A Constant Business Endeavour',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	&nbsp;</p>
<p>
	<strong>--By TC Correspondent</strong></p>
<div>
	<div>
		&nbsp;</div>
	<table align="right" border="0" cellpadding="1" cellspacing="1">
		<tbody>
			<tr>
				<td>
					<img alt="Rajesh Kazi Shrestha,Chairman, RK Associates" src="/userfiles/images/RKS.jpg" style="width: 175px; height: 192px;" /></td>
			</tr>
			<tr>
				<td style="text-align: center;">
					<div>
						<strong>Rajesh Kazi Shrestha</strong></div>
					<div>
						Chairman, RK Associates</div>
				</td>
			</tr>
		</tbody>
	</table>
	<div>
		RK Associates and its sister concerns such as Nepal International Business (NIB) Pvt Ltd and &nbsp; Constant Business Group (CBG) are authorised dealers of Lifan&rsquo;s motorbikes and cars and the brands Zotye, Proton, Jonway and Ssangyong. In business for the past 32 years, CBG and its promoters have been trading automobiles and dealing re-conditioned and brand new vehicles in Kathmandu.</div>
	<div>
		&nbsp;</div>
	<div>
		CBG started its business by first importing Lifan motorbikes to Nepal and later assembling them here. After selling a large number of motorbikes within a short time, the company felt the need to provide after sales services and spare parts to its customers, which it has now arranged for.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Rajesh Kazi Shrestha, Chairman of RK Associates, the group of companies that runs CBG, NIB, Alliance Insurance Company Ltd, Soaltee Hotel Limited, Status Trading Pvt Ltd among other companies, said that the Lifan Company has introduced SUVs in the Chinese market and that he plans to bring them to Nepal through Nepal International Business (NIB), an authorised distributor of Zotye International Automobiles of China.</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha claims that the company has sold more than 600 Zotye SUVs in Nepal in the past five years. &ldquo;Customers demand Zotye vehicles that use Mitsubishi engines and provide power, performance and quality to their rides; we brought the Jonway SUV in order to meet their demand,&rdquo; he says.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		NIB has also brought the Zotye Nomad, a mini SUV, to Kathmandu recently. An authorised distributor of Ssangyong Automobiles of Korea too, it has also introduced the four-wheeler Korando in the Nepali market.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<span style="font-size: 14px;"><strong>Starting a Business&nbsp;</strong></span></div>
	<div>
		Shrestha&rsquo;s interest in automobiles and his family&rsquo;s background in business lured him to the field of trading vehicles. &ldquo;While I was doing my B.Com, I realised that I my fortunes were waiting for me in this line and that prompted me to jump into this sector,&rdquo; he recalls. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Given to his keen interest in vehicles since childhood, Shrestha focused himself in the trading of vehicles. He is not, however, confined only to vehicle trading but also involved in insurance, banking, food and carpets, among other businesses. CBG&rsquo;s sister enterprises are looked over by Shrestha himself while others are taken care of by his business partners.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">New Launches</span></strong></div>
	<div>
		The company introduced the Higer bus in Nepal last Wednesday. The bus&rsquo;s primary clients are tourism and travel agencies and were brought to Nepal following the request of travel entrepreneurs.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;When I told them it was hard for me to provide the service unless there was a demand for more than 12 buses, tourism entrepreneurs came jointly with an order of 10 buses,&rdquo; says Shrestha, who also claims the buses will help boost the tourism industry in Nepal. Post the bus launch, CBG has been getting an overwhelming response from the market according to Shrestha. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		This initial response, although a boost for the company&rsquo;s morale, does not ascertain success as the depreciation of the rupee is bound to affect the market price and sales of vehicles. &nbsp;&ldquo;We have requested the company to reduce the price for pre-order in bulk,&rdquo; says Shrestha, revealing some cautionary measures for market uncertainty. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Market Challenges and Prospects</span></strong></div>
	<div>
		The spiraling value of the rupee has hit businesses hard and NIB is not an exception. Though the company is satisfied with increase in sales, Shrestha says the rate of return is too low and additional vehicles are not being imported due to the escalating price of dollars. &ldquo;We are in a wait and watch mode,&rdquo; Shrestha says adding that the company does not have immediate plans for market expansion unless the rupee strengthens against the dollar.</div>
	<div>
		&nbsp;</div>
	<div>
		With various models and brands available, Shrestha regards competition due multiple choices in the market as a major challenge for his company. To overcome this, the company is keeping a vigilant eye to provide something unique to its customers. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Nepal, however, is a lucrative market for SUVs, fancy cars, motorbikes, buses and other vehicles. Provided there is political stability in the country, Shrestha sees a very good prospective for automobile business here. &ldquo;People&rsquo;s purchasing power has gone up and they are demanding more,&rdquo; he says. &ldquo;Selling more vehicles would result in big transaction which bodes well to all including businessmen, government and the people.&rdquo;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Expectations from the Government&nbsp;</span></strong></div>
	<div>
		High import duties imposed on automobiles by the government, despite Nepal&rsquo;s WTO membership and commitment to gradually reduce custom duties, is affecting vehicle sales, according to Shrestha.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Entrepreneurs like him expect the government to formulate policies and laws in line with the obligation it has made for the WTO membership.</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha also demands the government to come up with an effective plan to replace old vehicles. &ldquo;Vehicles older than 20 years should be replaced. They consume too much fuel and pollute the environment,&rdquo; he says.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Marketing Matters and the Future</span></strong></div>
	<div>
		Even though marketing work has become more simplified with information and technology, Shrestha is not satisfied with the way it is executed in Nepal. He admits that the business community here has not been able to fully tap the advantage of technology in this field. &ldquo;Sometimes, our marketing expenditure even surpasses our income,&rdquo; he says to demonstrate the point.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha emphasises the need for assessing consumer demand and market wave length as a first step to improvement. &ldquo;Our company formulates marketing strategies to increase our sales and we are trying to integrate appropriate technology in our marketing tools,&rdquo; he shares. &ldquo;But it is still uncertain as to whether investment in marketing would bring returns.&rdquo;</div>
	<div>
		&nbsp;</div>
	<div>
		With over 150 employees in total, Shrestha delegates responsibilities to a trusted team and receives updates and provides guidance through regular meetings. His future plans hinge upon the political and business climate of the country. But even as he echoes common frustrations among businessmen of a lack of encouragement for new ventures, Shrestha has not withheld from making optimistic plans for the future, for solar energy, agri-business and tourism are sectors he has kept an eye out for, he also reveals possibilities of importing airplanes from China soon.</div>
	<div>
		&nbsp;</div>
</div>
<div>
	<img alt="rk aSSOCIATES" src="/userfiles/images/spotlight1.jpg" style="width: 500px; height: 112px; margin-left: 15px; margin-right: 15px;" /></div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#FFFFFF">
				<p>
					<span style="font-size: 14px;"><b>AT A GLANCE</b></span></p>
				<div>
					<div>
						&nbsp;</div>
					<div>
						<div>
							<strong><span style="font-size:14px;">Higer Buses Launched</span></strong></div>
						<div>
							<img alt="Higer Bus" src="/userfiles/images/HIGER%20BUS.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 182px;" />Nepal International Business Pvt. Ltd has brought Higer Bus in Nepali market. The bus is produced by Higer Company of China. Tourism entrepreneurs are the main target customers of the company for these buses. &nbsp;The buses were launched by Chief Secretary Lila Mani Poudyal and Chinese Ambassador to Nepal, Wu Chuntai, amid a program in capital last week. &nbsp;Designed to suit the topography like of Nepal, the company has believed, this brand of the bus will be popular in Nepali market very soon. The newly introduced buses have the seat capacity of 29 to 35, according to the company. The company has also offered the warranty for 18 months while maintenance and the buses&rsquo; spear parts can be easily available from the company. Air condition cooling and heating, luggage compartment with cool air outlet, luxurious seats, reverse display monitor, Electrophoretic technology guarantee and corrosion resistance, among others, are the main features of the bus.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong><span style="font-size:14px;">Vehicle Brands Imported by CBG</span></strong></div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Zotye Nomad SUV</strong></div>
						<div>
							CBG is also an authorised distributor of Zotye International Automobiles of China in Nepal. The Company had also brought the Zotye Nomad mini SUV in 2011. Zotya Nomad SUV- 3,970 mm long, 1,570 mm wide and 1,733 mm tall - &nbsp; has 1,500 cc petrol engine with 16 valves and a multi-point electric fuel injection system. Zotye Nomad is available in seven colors&mdash;pure white, crystal silver, light black, pure red, light blue, dark blue and bright black.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Jonway SUV</strong></div>
						<div>
							CGP is also an authorised dealer of Jonway Companies&rsquo; products in Nepal. Jonway Auto Company is the main exporting automobile company of China. &nbsp;It has minimum grounded clearances of 200 mm. The ISO 9001: 2000 certified company has been exporting its products to around 40 countries.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>SSangYong Cars</strong></div>
						<div>
							CGP is also an authorized dealer of SsangYong, the automobile manufacturing company based in South Korea. It had introduced the new model of its second generation Korando cars in the Nepali in April, 2011. Korando brand cars are sold in 82 countries around the world. The price tag of Korando car was Rs. 4,775,000 at the time of launch.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Lifan</strong></div>
						<div>
							The sister concern of the CGP has sold Lifan motorbikes in Nepal. Later, it also started assembling the motorbikes itself in Nepal. &nbsp;The company has the service center and spare parts for Lifan customers.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Proton</strong></div>
						<div>
							Sole authorized distributor of Malaysia based auto manufacturer Proton in Nepal, CGP sells Proton Persona, Gen.2 and Savvy&mdash;in the Nepali market.&nbsp;</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
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			'description' => 'Active in business for over three decades, the Constant Business Group’s Rajesh Kazi Shrestha is now attempting to expand his turf to agriculture, tourism and solar energy.',
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		'Article' => array(
			'id' => '1590',
			'article_category_id' => '160',
			'title' => 'Corptoon Issue 26',
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			'description' => 'Corptoon Issue 26',
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		'Article' => array(
			'id' => '1589',
			'article_category_id' => '91',
			'title' => 'Hydro Meets In The Offing',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The Independent Power Association of Nepal (IPPAN) and Hydroelectricity Investment and Development Company Limited (HIDCL) will be organising consecutive meetings of the hydro power sector from August 26-29.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hosting the Power Summit 2013 on August 26-27, IPPAN is collaborating with PTC India limited (PTC) and the Nonresident Nepali association (NRNA) to catalyze the hydropower sector in the face of political instability. The power summit will conduct a critical review of where the hydropower sector has reached since 2006, assessing what is lacking and what needs to be in place in order to hasten the pace of the sector.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	A key point to be raised is the seven-year period of slow growth of the sector which has only been able to generate 180 MW of electricity &ndash; 110 MW coming from the private sector and 70 MW from the NEA. Participants of the event include stakeholders from Brazil, China, Czech Republic, France, India, Korea, Nepal, Norway and USA.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meetings on August 28-29 include a hydropower investment meet by HIDCL supported by the Ministry of Energy, the Ministry of Finance, The Investment Board of Nepal (IBN) and the Asian Development Bank (ADB). Major attractions include the participation of international and domestic hydropower developers, investment companies, sovereign wealth funds and utility companies. The programme will focus on a long overdue follow-up by the investor&rsquo;s forum and a reflection by ADB. &nbsp;</div>
<div>
	&nbsp;</div>',
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			'description' => 'The Independent Power Association of Nepal (IPPAN) and Hydroelectricity Investment and Development Company Limited (HIDCL) will be organising consecutive meetings of the hydro power sector from August 26-29.',
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		'Article' => array(
			'id' => '1588',
			'article_category_id' => '91',
			'title' => 'NPR Depreciation Taking Toll On Nepali Economy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	The sharp devaluation of the Nepali rupee (NPR) is causing various macroeconomic impacts on the Nepali economy. The local currency which maintains an exchange rate peg with the Indian rupee (INR) has depreciated by about 13 per cent between 1st May and 9th August of 2013 against the US dollar. The weakness of INR is caused by India&rsquo;s slowing economic growth combined with a widening current account deficit (mainly due to rising petroleum and gold imports), decline in exports and the strengthening of the US dollar as economic recovery in the US gathers pace. &nbsp; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the NPR continuously losing strength against the USD, the Nepali economy is facing significant negative impacts. As the USD becomes dearer, Nepal needs to allocate a huge sum of funds for foreign loan repayment. The strengthening USD is pushing interest rates higher and exerting pressure on the central bank to manage a huge foreign currency reserve for loan repayment. This will increase the country&rsquo;s debt which was 34.1 per cent of the gross domestic product (GDP) in the fiscal year 2011/12. Nepal&rsquo;s debt to GDP ratio is following a declining trend from the record high of 44 per cent in FY 2007/08.</div>
<div>
	&nbsp;</div>
<div>
	The currency devaluation is also likely to further widen trade deficit with India, the largest trading partner of Nepal. This is due to import payments that are made in USD, which is done by selling INR from Nepal&rsquo;s forex reserve. Since the INR has plunged to a historic low against the USD, Nepal is forced to sell more INR for import payments. In the 11 months of FY 2012/13, Nepal&rsquo;s trade deficit with India jumped by 27.4 per cent to Rs 289 billion compared to the 13 per cent growth recorded in FY 2011/12. Since Nepali production is insufficient to fulfill internal demand, the country relies heavily on import. This will be reflected in the increase of the final price of retails goods and services in the domestic market. Petroleum import will also become costlier due to the currency devaluation. The international petroleum price, which is maintained in dollar terms, has gone up in recent months due to the rise of USD.</div>
<div>
	&nbsp;</div>
<div>
	Nepal imports petroleum through the state-owned Indian Oil Corporation (IOC). The price rise in petroleum, retail goods and services will finally lead to an increased inflation rate.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the impacts are largely negative, currency devaluation has some positive effects like Remittance, Nepal&rsquo;s major source of foreign currency income is likely to rise by the strengthening of the USD. This will help to maintain the country&rsquo;s balance of payment (BOP) surplus. According to data published by Nepal Rastra Bank (NRB), the overall BOP recorded a surplus of Rs. 52.69 billion during the 11 months of FY 2012/13 compared to a surplus of Rs. 115.76 billion during the same period of the previous year. Likewise, income from tourism will also increase as foreign visitors can spend more following the dollar appreciation. Similarly, Nepali export earnings, especially from merchandise goods such as handicrafts, garments and carpets may increase as exports will become more competitive with the weakening of domestic currency. However, Nepal may not be able to take advantage of currency depreciation from export earnings due to several reasons. High cost of production due to rising price of imported raw materials, long-standing electricity shortages and labour disputes are seen as factors hindering the country&rsquo;s export sector.&nbsp;</div>
<div>
	&nbsp;</div>',
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			'description' => 'The sharp devaluation of the Nepali rupee (NPR) is causing various macroeconomic impacts on the Nepali economy.',
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		'Article' => array(
			'id' => '1587',
			'article_category_id' => '91',
			'title' => 'Govt Indifference Puts Investment Board At Limbo',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	Thanks to the government&rsquo;s gross indifference towards the Investment Board (IB), which was established with an authority to create investment friendly environment, is now rendered in a dysfunctional state. Even after two years of establishment, the IB hasn&rsquo;t been able to lure any single major project despite its lofty plans to promote national and foreign investments.</div>
<div>
	&nbsp;</div>
<div>
	The Investment Board Nepal was established as a one-stop service centre for foreign and local investors two years ago under the Investment Board Nepal Act, 2068.</div>
<div>
	&nbsp;</div>
<div>
	The Babu Ram Bhattarai-led government had handed over a total of 14 mega projects, including five large hydropower projects, to the IB in May 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It aims to promote economic development by mobilizing and managing public-private partnership, cooperative and domestic and foreign private investments.</div>
<div>
	&nbsp;</div>
<div>
	Chairman of Interim Election Council Khilraj Regmi is the Chairman of the IB, while he has deputed Federal Affairs and Local Development and Health and Population Minister Bidyadhar Mallik to assume the role of Vice-chairperson in the 11-member board.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Finance Minister, Forestry Minister and Industry Minister are also the board members for the IB. However, according to a source inside the IB seeking anonymity complained that none of the ministries have been much supportive towards the Board.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government hasn&rsquo;t yet provided the human resources required to the Board for the smooth functioning and to facilitate the large scale investment projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Allocating a budget of Rs 120.9 million &nbsp;to the Board for FY 2013-14, Finance Minister Shankar Koirala has stated that the mechanism would be made resourceful. But economic analysts lament that the budget falls short in addressing the expectations to enhance the institutional capacity as well as equipping it with the technical experts.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Mukunda Paudyal, Joint-Secretary at the IB, informed that the budget allocated by the government to the Board in one-third of the Board&rsquo;s demand.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Budget apart, we have made many policy prescriptions to the government and asked it to amend the laws related to investment. However, the government turned deaf ear towards our recommendation,&rdquo; he told The Corporate.</div>
<div>
	&nbsp;</div>
<div>
	The absence of the legislative parliament has also posed a problem for amending laws that are creating hurdles for the investment friendly atmosphere. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The structure of the Investment Board is also a stumbling block towards attracting investors on the sectors that the IB has prioritized, another official in the IB told The Corporate seeking anonymity. He further explained that the Board comprises the members from the business community too who are not much welcoming the new investors in the same field much members are involved. &ldquo;They have also investment in the priority sectors of the IB so they might not be interested to bring other investors in the same sectors. There is conflict of interest.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Likewise, the government is less bothered to own the work of the IB, a source said. &ldquo;We are in the process of doing the Power Development Agreement for four hydro power projects now. If there was a political government, it could have given impetus to complete these projects,&rdquo; he argued, &ldquo;as owning these achievements after bringing the large investors in these projects could mean a lot in terms of political capitalization.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the much touted Investment Year 2012-13 turned to be a non-starter. It failed to yield any tangible result despite its claim that it would attract major foreign investments during this celebrated year. The IB hasn&rsquo;t even been able to chart out the strategy to bring big foreign investors in Nepal. &ldquo;We haven&rsquo;t made it yet due to our busy schedule and owing to the country&rsquo;s political situation,&rdquo; Poudyal said.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>',
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			'id' => '1586',
			'article_category_id' => '34',
			'title' => 'Volkswagen Sales In Nepal Reaches 1000 Units',
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			'summary' => null,
			'content' => '<p>
	Pooja International Nepal, authorised importer of Volkswagen, organised a press meet to celebrate the sales of 1000th Volkswagen in Nepal. Henning Hansen, First Secretary, Charg&eacute; d&#39; Affaires, German Embassy Kathmandu was the chief guest for the programme. He handed over the car key of New Passat to Jimmy Shrestha, the 1000th owner of Volkswagen cars in Nepal. Shrestha, the Director of Hatale Udhyog in Sitapaila, said, &quot;Volkswagen has always been known for outstanding driving pleasure, safety and comfort besides its elegant design and styling. I am proud and delighted to own the 1000th Volkswagen in Nepal.&quot;<br />
	<br />
	Bibek Bijukchhe, Chief Executive Officer of Pooja International Nepal, said, &ldquo;Volkswagen has been able to compete in the mass segment while being known for their superior built quality. It&rsquo;s the brand, man, machine and network which helped us win the hearts of Nepali customers in just around three years.&rdquo; &ldquo;We have a target to deliver 800 Volkswagen cars nationwide in fiscal year 2070/71,&rdquo; said Sarik Bogati, Marketing Manager of Pooja International Nepal.The programme was organised at the Volkswagen Showroom in Lazimpat.<br />
	<br />
	<br />
	&nbsp;<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-10',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'Pooja International Nepal, authorized importer of Volkswagen, organized a press meet to celebrate the sales of 1000th Volkswagen in Nepal. Henning Hansen, First Secretary, Chargé d' Affaires, German Embassy Kathmandu was the chief guest for the programme.',
			'sortorder' => '1447',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	),
	(int) 9 => array(
		'Article' => array(
			'id' => '1585',
			'article_category_id' => '34',
			'title' => 'Colors Introduce X 109',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Colors Mobile is known for its premium yet affordable series of mobile phones. And it continues to expand its series with the latest offering &ndash; X 109 under its X series phones. So if you are looking for a feature-rich phone with a price tag that comes under a reasonable range, Colors X 109 is the answer for you.<br />
	<br />
	X 109 comes with 3.5 inch HVGA (480x320) capacitive multi-touch screen that gives you smooth touch experience. This phone flaunts an impressive design with curved back and edges. Packed with 1.3 MP Camera, this phone is loaded with many other features like the inbuilt Audio/Video Player of the phone that allows you to watch videos and capture/record life&rsquo;s special moments and a powerful battery of 1000 mAh that provides a longer talk time and a freedom from frequent charging.<br />
	<br />
	X 109 supports GPRS connection and has WI-FI support system enabling you to experience internet at its best. The phone also has some exciting inbuilt apps such as Facebook and Opera. While a feature such as the Bluetooth technology helps in adding hands free comfort, another feature like &lsquo;Analog TV&rsquo; allows you to watch your favorite programme on your mobile phone. X 109 also has a wireless FM radio so you can have your favourite radio stations on the fingertips.<br />
	&nbsp;<br />
	There is one year warranty on the mobile handset and six months warranty on battery and charger.<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-08',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'Colors Mobile is known for its premium yet affordable series of mobile phones. And it continues to expand its series with the latest offering – X 109 under its X series phones. So if you are looking for a feature-rich phone with a price tag that comes under a reasonable range, Colors X 109 is the answer for you.',
			'sortorder' => '1446',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1584',
			'article_category_id' => '34',
			'title' => 'Everest Bank’s Asha 2070 Fixed Deposit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	As a part of its continuous efforts to provide innovative products/services, EBL recently launched a new deposit product called &ldquo;Asha 2070 Fixed Deposit&rdquo;. The new scheme has been launched with an objective of inculcating habit of long-term savings among the General Public. The product is targeted at the individuals intended to have higher return than the regular Fixed Deposit over a period of time.<br />
	<br />
	Under this scheme, the deposit not only attracts higher rate of interest but also accumulates a handsome amount with quarterly compounded interest during a period of 2070 days. Further, the customers will also have other privileges like 50 percent discount on annual locker charge as well as the waiver of security deposit during the tenure of Deposit.<br />
	<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-06',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'As a part of its continuous efforts to provide innovative products/services, EBL recently launched a new deposit product called “Asha 2070 Fixed Deposit”. The new scheme has been launched with an objective of inculcating habit of long-term savings among the General Public. The product is targeted at the individuals intended to have higher return than the regular Fixed Deposit over a period of time.',
			'sortorder' => '1445',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '1583',
			'article_category_id' => '150',
			'title' => 'Business Briefs (5 -11 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="eScan Version 14" src="/userfiles/images/ESCAN.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 74px;" />eScan Version 14 Introduced&nbsp;</strong></div>
<div>
	Phoenix Trading, eScan Authorized Distributor for Nepal has launched eScan Version 14 for SOHO editions with cloud security. According to the company, the new version aims to provide a secured computing environment, and is in accordance with the feedback from global users. eScan 14 has been developed to be very light on system resources and does not slowdown the user&rsquo;s system, says a press release from the company.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="The British College" src="/userfiles/images/TBC.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 71px;" />Open Day at The British College&nbsp;</strong></div>
<div>
	The British College organised Open Day for interested students on July 31. Participating students received a detailed presentation from International Education Consultant, Graham Minshaw. During the presentation, Graham discussed the UK education system and informed students what they should expect when studying on a UK degree.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Tata Safari " src="/userfiles/images/TTSFR.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 80px;" />Tata Safari Storme in Nepal&nbsp;</strong></div>
<div>
	Siprdai Trading has launched Tata Safari Storme in the Nepali market. Dubbed as the &lsquo;Real SUV&rsquo;, Storme is claimed to be the combination of luxury, power and off-road performance. The SUV is powered by a 2.2 litre VariCOR turbocharged engine delivering a maximum output of 140 ps and a peak torque of 320 NM. According to the company, the SUV can accelerate from 0 to 100 kms in 14 seconds. The price of Safari Storme starts from Rs 3.78 million.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Gitanjali Jewels" src="/userfiles/images/GITANJALI.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 46px;" />Gitanjali&rsquo;s Facebook Offer&nbsp;</strong></div>
<div>
	Gitanjali Jewels has introduced an offer on its official facebook page as a part of its online promotion. The offer is named &lsquo;Like and Win a Diamond Pendant&rsquo;, and users liking the Gitanjali page on facebook will win a diamond pendant worth Rs 10,000. Two Lucky winners will be selected every week through a random lucky draw. The link to Gitanjali facebook page is www. &nbsp; &nbsp;facebook.com/GitanjaliJewelsNepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Samsung’s New Smartphones" src="/userfiles/images/SMSNG.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 61px;" />Samsung&rsquo;s New Smartphones&nbsp;</strong></div>
<div>
	Samsung has introduced three new smartphones in the market, namely Galaxy Mega, Galaxy Core and Galaxy Pocket Neo. Galaxy Mega comes with a 5.8 inch screen and runs on Android 4.2.2, and has 1.5 GB RAM and 1.4 GHz dual-core processor. It is priced at Rs 44,000. Galaxy Core is a dual SIM smartphone with android 4.1 OS, 4.3&rdquo; screen, 1 GB RAM and 1.2 GHz Dual Core Processor and costs Rs 28,500. Dual SIM Galaxy Pocket Neo has android 4.1.2 OS, 512 MB RAM and is priced at Rs 12,300.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-06',
			'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' => 'Phoenix Trading, eScan Authorized Distributor for Nepal has launched eScan Version 14 for SOHO editions with cloud security.',
			'sortorder' => '1444',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1582',
			'article_category_id' => '149',
			'title' => 'Quality Is A Sign Of Success',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Devraj Mishra ,Chairman Karuna Interior Pvt Ltd" src="/userfiles/images/DEVRAJ.jpg" style="width: 175px; height: 192px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Devraj Mishra</strong></div>
				<div>
					Chairman</div>
				<div>
					Karuna Interior Pvt Ltd</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Karuna Interior Pvt Ltd, a familiar name for interior works and furniture was established in 1990. After three years of operation, the company expanded itself to the field of metal structural works and aluminum fabrication.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Named after the mother of chairman, Devraj Mishra, the venture began as a family business which commenced wooden furniture manufacturing in 2005. With the widening scope of furniture business, Karuna has enhanced its services and has now become one of the best interior service providers in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;What we create for you is not our creation, but your own,&rdquo; says chairman Mishra, explaining the company&rsquo;s tagline &ldquo;The user is the dreamer; the dreamer, the owner&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have a variety of products and they are popular among our clients not only due to the reasonable price but also for our prompt service, amazing designs and best quality materials,&rdquo; added Mishra.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With more than 40 employees at present, the company faced many ups and downs from its inception to its current market status. &ldquo;Our main hurdles ranged from the lack of knowledge among customers on interior design and conventional practice of not adhering to advice, poor discussion during design phase, the inability to visualise the end product and demands for change after work is done with,&rdquo; informed Mishra.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Considering all problems and crises as good lessons, the company actively introduced a new technique to run business and has been dealing with interior design related products and services among customers who want to decorate residential buildings, offices in commercial complexes or private buildings.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company asserts that its target groups are middle and upper-middle class families - their individual homes, apartments or rented living spaces; banks and financial institutions, corporate business houses, hotels/ restaurants, schools/colleges and government offices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With a single outlet at Gairidhara Kathmandu, the company&rsquo;s market mostly extends to the Capital only. According to Executive Director Bipin Sharma, the company is focused on customer satisfaction with after sales service quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company does not believe in competition as it believes that the best one always stands out without having to compete. &ldquo;The brand name is a strength in itself and our dedication towards our customers will ensure its strength in the future,&rdquo; adds Sharma.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sharma says the company has annual advertisement plan through print media. The company focus on social networking as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With plans to construct a well-equipped factory in Dahachok, Kathmandu and an expanding showroom space in Gairidhara, the team at Karuna Interior Pvt. Ltd. continues to provide satisfying services to its customers.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-06',
			'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' => 'Karuna Interiors Pvt Ltd has come a long way in establishing its market in interior design services',
			'sortorder' => '1443',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 13 => array(
		'Article' => array(
			'id' => '1581',
			'article_category_id' => '115',
			'title' => 'Lifestyle And Technology News In Brief (5-11 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>Humanoid Robot Launches on Japan Rocket&nbsp;</strong></div>
<div>
	<img alt="Humanoid Robot Launches on Japan Rocket" src="/userfiles/images/humanoid.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 87px;" />Japan&rsquo;s space agency says the first talking humanoid robot &ldquo;astronaut&rsquo;&rsquo; has taken off in a rocket. Kirobo derived from the Japanese words for &ldquo;hope&rsquo;&rsquo; and &ldquo;robot&rsquo;&rsquo; _ was among five tons of supplies and machinery on a rocket launched Sunday for the International Space Station from Tanegashima, southwestern Japan. Developers say the childlike robot will be a companion for astronaut Koichi Wakata and will communicate with another robot on Earth. Robot designer Tomotaka Takahashi, of the University of Tokyo, advertiser Dentsu and automaker Toyota Motor Corp. worked on the robot.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Apple Once Again the World&rsquo;s Most Valuable Company&nbsp;</strong></div>
<div>
	<img alt="Apple Once Again the World’s Most Valuable Company " src="/userfiles/images/apple.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 64px;" />Apple has again become the world&rsquo;s most valuable company as rumors of upcoming next-generation iPhones and iPads are spreading. Apple toppled Exxon Mobil from its number one spot as its market capitalization went up by 0.9% to $414 bn. Exxon overtook Apple&rsquo;s market cap in late January of this year, amidst a continued sell-off of its stock. It lost the title last Thursday as its shares were down 1.8% on its disappointing earnings report, giving the firm a market capitalization of $409bn, Market Watch reports. Apple share price has last reached $457. However, the company is still $100 short from the beginning of 2013. Last September 2012, the company&rsquo;s share price went as high as $700, its highest so far. Investors are hoping that the company can now gain its momentum as consumers anticipate the debuts of the iPhone 5S, iPhone 5C, which is a low-cost iPhone, a fifth-generation iPad, an iPad mini with retina display and iWatch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Google to Bring &lsquo;Find My Device&rsquo; Feature to Android&nbsp;</strong></div>
<div>
	<img alt="Android Operating System maker Google" src="/userfiles/images/google%20android.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 72px;" />Android Operating System maker Google announced that it will offer a new service to help users keep track of their Android devices from afar. The service, called Android Device Manager, is similar to the &ldquo;Find My iPhone&rdquo; service outed by Apple in 2011, and enables Android phone and tablet owners to remotely find and manage their lost devices. Users will be able to view the current location of their devices on a map; lock their devices remotely; or, if they think a device has been stolen, activate a noisy alarm in order to ward off thieves, or erase all memory on their device. All of this can be done by logging into the Android Device Manager website on any laptop, desktop or other mobile device. The feature will become available later this month and will be able to track all devices running Android 2.2 or newer; a companion app will also be available for download in the Google Play Store.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Valve Appoints Gaming Economist&nbsp;</strong></div>
<div>
	<img alt="Valve Appoints Gaming Economist" src="/userfiles/images/vALVE.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 90px;" />Game maker Valve has appointed an in-house economist to help manage the virtual economies that have sprung up around its many titles. The company has signed up economics professor Yanis Varoufakis as their resident expert adviser. Valve contacted Prof Varoufakis as it started to think about linking game economies and hit virtual currency exchange problems. It comes as South Korea attempts to crack down on trading in video games. In a blog explaining how he came to work for Valve, Prof Varoufakis said first contact was made by Gabe Newell, president of the games company.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-05',
			'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' => 'Japan’s space agency says the first talking humanoid robot “astronaut’’ has taken off in a rocket.',
			'sortorder' => '1442',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '1580',
			'article_category_id' => '116',
			'title' => 'Sony Launches New Bravia Models In Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Japanese television manufacturer Sony has launched its latest range of HD Bravia TVs in Nepali market. The TVs are equipped with latest version of Wi-Fi connectivity. &ldquo;Announced earlier at the Consumer Electronic Show (CES), the new W- and R-series LED models are now available in Nepal and optimises Sony&rsquo;s proprietary technology to deliver images with vibrant hues and sounds with deeper bass and crystal-clear clarity,&rdquo; says a statement by Nepa Hima Trade Link, the authorised distributor of Sony&rsquo;s products for Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sony has used a new display technology termed as Triluminos in the latest Bravia models. The technology uses integrating QD Vision&rsquo;s Color IQ1 optical component with Sony&rsquo;s unique display technologies to reproduce a higher gamut of colours on screen, making display images appear more life-like and vivid. With 1 Color IQ and the Color IQ logo are trademarks of QD Vision, Inc. Color IQTM is an advanced light emitting semiconductor technology developed by QD Vision, Inc. &ldquo;Using this technology images on the Bravia KDL-W954A and Bravia KDL-W904A become more appealing, colours appear richer and there is a greater sense of depth,&rdquo; states the statement. Similarly, Sony also claimed that the enhanced XReality Pro picture engine (present in the new W-series models) delivers unprecedented picture quality and when coupled with the Triluminos display, &ldquo;makes one feel like you&rsquo;re looking through an open window panel.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The new Bravia lineup is also equipped with latest sound system. The TVs come with Sony&rsquo;s patented Signal-to-Sound Architecture, which employs the latest sound-engineering techniques for immersive audio experience. The KDL-W954A houses an ultra-slim two-way bass reflex speaker and stand-alone tweeter in an isolated cabinet to minimise acoustic energy being lost or distorted inside the box, while the KDL-W904A uses a discreetly integrated 1.2m speaker duct to evoke unparalleled bass and mid-range sounds for a unit of its size. The other three W-series models (KDL-W804A, KDL-W704A and KDL-W674A) come equipped with a compact bass reflex speaker.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Another key feature in the series includes Sony&rsquo;s One-touch mirroring function. Employing NFC technology, users can wirelessly amplify content, be it videos, images or applications, from their smartphones on to their TV screens with a single tap. A similar function to One-touch, Screen mirroring functionality provides users of the BRAVIA KDL-W804A, KDL-W704A, KDL-W674A and KDL-R550A with the option to wirelessly mirror and share video and audio content via their Miracast supported mobile devices, such as the Sony Xperia Z, V, SP and L.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The TVs are preloaded withTV Sideview application that allows a user to control the W-series models using a smartphone or tablet. Available on both Android and iOS platforms, the app also provides supplementary content such as cast details, episode synopsis and related programmes that might be of interest to the user.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Sony, the latest Bravia line-up also fulfils the needs of gamers. The TVs comes with 3D Simulview feature that allows two simultaneous players to play against each other without seeing a split screen. First showcased on Sony&rsquo;s flagship 84&rdquo; 4K TV last year, this year&rsquo;s offerings now all offer either active or passive 3D Simulview gaming capability in Full HD.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The new range of Bravia TVs will be available in Nepal from Rs 84,999.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-05',
			'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' => 'Japanese television manufacturer Sony has launched its latest range of HD Bravia TVs in Nepali market.',
			'sortorder' => '1441',
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		)
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)
$current_user = null
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$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
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		'Article' => array(
			'id' => '1594',
			'article_category_id' => '137',
			'title' => 'Global Ecommerce To Top $1.2 Tn, Driven By Asia-Pacific Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Independent market research firm eMarketer released a study claiming that business-to-consumer (B2C) ecommerce will increase by 17 percent globally in 2013, with worldwide sales expected to reach $1.2 trillion. The Asia-Pacific region is driving ecommerce growth more than any other, and is expected to outpace the rest of the world at 23 percent growth over last year. China and Indonesia are leading the region&rsquo;s growth. &ldquo;Asia-Pacific already accounts for nearly a third of all B2C ecommerce sales in the world, a share of the total just below North America&rsquo;s. Next year, Asia-Pacific will lead all regions in share of the worldwide total spent online,&rdquo; the study asserted.</div>
<div>
	&nbsp;</div>
<div>
	Indonesia is expected to see ecommerce growth up 65 percent compared to 2012. China is up 71 percent over last year. Comparatively, the U.S. expects only a 12 percent rise in ecommerce by the end of the year.</div>
<div>
	&nbsp;</div>
<div>
	While the Asia-Pacific leads in growth, North America maintains its lead in actual sales. North America spent $373 billion in 2012, which is expected to rise to $420 billion in 2013. The Asia-Pacific spent $316 billion in 2012 and eMarketer anticipates $389 billion to be spent this year. However, the Asia-Pacific is set to overcome the reigning top spender by the end of next year. While North America is expected to have $469 billion in sales for 2014, the Asia-Pacific will take the lead at $502 billion. The gap will widen even further by 2016 &ndash; with the Asia-Pacific expected to spend $708 billion versus North America&rsquo;s $580 billion.</div>
<div>
	&nbsp;</div>
<div>
	The study also indicated that more web users in the Asia-Pacific are embracing online shopping. &ldquo;Ecommerce sales growth will be supported by an estimated 1.03 billion digital buyers around the world this year, 44.4% of whom will be in Asia-Pacific. China alone will boast 269.4 million digital buyers this year&mdash;a figure that includes internet users ages 14 and older who make at least one purchase via any digital channel during the calendar year. The US remains the country with the second-largest number of digital buyers, at 155.7 million this year,&rdquo; the study claimed. The study concludes that many web users in the Asia-Pacific who previously weren&rsquo;t buying online will decrease this year. eMarketer expects penetration to increase in China, from 40 percent last year to a projected 71 percent of internet users by 2017. Current digital buyer penetration in the U.S. is just slightly above that projection currently at 72 percent.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;There is still significant room for growth, though, in developing markets where many internet users are still not buying online. Western Europe and North America are the only regions in the world where a majority of the online population is also a digital buyer,&rdquo; said the study. As countries like China increase its wealth, it becomes inevitable that more of its citizens will be connected to the web. It is logical to assume that many of those Internet users will discover the advantages (and disadvantages) of buying online.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<div>
		<strong><span style="font-size:14px;">E-markets in Nepal on the Rise</span></strong></div>
	<div>
		&nbsp;</div>
	<div>
		E-commerce market in Nepal emerged about a decade ago. Kick-started through gift-sending and bill payment services through online portals, the market went on to expand due to increasing purchasing power among Nepali consumers. Online shopping revenues have witnessed fast paced growth as the number of internet users in Nepal continues to rise. The domestic e-commerce market has now expanded into various segments such as online shopping, e-banking, mobile commerce, electronic cash transfers and e-ticketing. Time and money saving hassle-free services are seen to be the main factors in attracting internet users to online markets.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Annual online transactions in Nepal are estimated to be around Rs 10 billion, although an official figure is not available. Many online shopping websites have emerged since the inception of e-commerce in Nepal. Muncha.com, Thamel.com, Harilo.com, Yeskantipur.com, Metrotarkari.com, Foodmandu.com, Bhatbhatenionline.com and Nepbay.com are some of the popular websites among Nepali online shoppers. Some of these sell their own products whereas others deliver from global sites such as eBay and Amazon. Nepali shoppers have the option to buy products ranging from groceries and fresh vegetables to cars from online portals.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		However, lack of a clear policy is hindering the growth of online markets here. &ldquo;The government has not helped the domestic e-commerce market and neither obstructed it,&rdquo; says Balkrishna Joshi, the CEO of Thamel.com. According to Joshi, the e-commerce market in Nepal is facing problems in the bill payment system. &ldquo;Establishing a central payment gateway will solve this problem, the central bank and concerned authorities should look into this,&rdquo; Joshi said. &ldquo;Similarly, creating a safer online environment for customers will also attract more investments in e-markets here,&rdquo; he added.</div>
	<div>
		&nbsp;</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'Independent market research firm eMarketer released a study claiming that business-to-consumer (B2C) ecommerce will increase by 17 percent globally in 2013, with worldwide sales expected to reach $1.2 trillion.',
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		'Article' => array(
			'id' => '1593',
			'article_category_id' => '135',
			'title' => 'Maximum Participation A Must For Power Summit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The Independent Power Producers&rsquo; Association Nepal (IPPAN) is organising a Power Summit on August 26 and 27 this year, an event for hydropower developers. This is the 4th such event being organised by IPPAN and invitations have already been sent to investors and foreign delegates. The organisers expect the summit to create a favourable environment for the hydropower sector. The Corporate caught up with IPPAN representatives to find out about preparations for the event. <strong>Excerpts:</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Subarna Das Shrestha, President, IPPAN" src="/userfiles/images/sds.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 174px;" /><strong>Subarna Das Shrestha</strong></div>
<div>
	<em>President, IPPAN</em></div>
<div>
	IPPAN is deeply committed towards making the event successful. We are highlighting the importance and potential of hydropower this year and spreading the word to investors, representatives from different financial institutions and foreign delegations. We are expecting around 500 participants this year and believe that if we are able to attract more foreign participants, the summit could be considered successful. If we convince the foreign delegates of our project proposals, we will be attracting investment funds from them which will help implement hydropower projects more smoothly. Similarly, we are focused to convince the government too. The ongoing power shortage is halting the growth of the economy. The summit can help in creating an environment conducive for successful completion of all hydropower projects. We are trying our best to make it informative and useful.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Khadk Bahadur Bisht Vice President, IPPAN" src="/userfiles/images/kbb.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 175px;" /><strong>Khadk Bahadur Bisht</strong></div>
<div>
	<em>Vice President, IPPAN</em></div>
<div>
	I believe that there will be maximum participation to make the Power Summit successful. Earlier, many developers came for hydropower projects but they gradually vanished which was not good for the sector. Based on this, I would say that the summit will be successful if it is able to attract developers in a large number. At a time when the energy crisis is high, the summit should be able to address the prerequisites of the hydropower sector and convince the government, developers and investors. There should be qualified speakers and appropriate projects presented to make this possible. As political instability affects economic growth, the summit should address the issue of political commitment and legal and regulatory framework. It should also address the demands of developers. Similarly, various workshops focusing on core areas, like export-oriented projects with direct foreign investment and power market mechanism, will help make the summit successful.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-12',
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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 Independent Power Producers’ Association Nepal (IPPAN) is organising a Power Summit on August 26 and 27 this year, an event for hydropower developers.',
			'sortorder' => '1454',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1592',
			'article_category_id' => '134',
			'title' => '‘CAAN Plans To Improve Eight Airports In Remote Areas’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="Ratish Chandra Lal Suman,Director General of Civil Aviation Authority of Nepal (CAAN)." src="/userfiles/images/rcls.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 219px;" />Ratish Chandra Lal Suman</strong> is the Director General of Civil Aviation Authority of Nepal (CAAN). In an interview with <strong>Raju Baskota</strong> of The Corporate, Suman shared the plans and parameters of CAAN and the International Civil Aviation Organization (ICAO). <strong>Excerpts:&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the progress made thus far in regulating domestic and international air services and in division of work among service providers?</strong></div>
<div>
	We are in the last phase of regulating air services and the division of work. &nbsp;We are planning to finalize the process by 2015 and our consultants too have provided a report accordingly. CAAN rules need to be amended for the implementation of the report; we need government support for this and are working towards it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Could you elaborate on the division of work?</strong></div>
<div>
	It is important to form different committees for operating an airport, providing services and deciding its rules and regulations. This is an international practice and was discussed since the establishment of CAAN. But air services were very few then although now it is gradually increasing. A systematic process is needed for work division, which is taking time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Will differentiating work and regulation services mitigate safety risks?</strong></div>
<div>
	Yes, risk will be mitigated with these measures. Division of work will bring simplicity in work and work load will automatically grow lighter. This in turn will help in risk reduction. We also are expecting to reduce the safety challenges by regulating air services differently on the basis of domestic and international air services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What have been CAAN&rsquo;s recent achievements?</strong></div>
<div>
	We prioritized improving the standard of our airports by adding new technologies and increasing safety. The Air Traffic Controller (ATC) automation system has begun due to this and new radar will be placed by 2015 too. We are also working on minimizing safety challenges and on improving the management system.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Does CAAN itself devise the budget for the improvement of airports?</strong></div>
<div>
	Government&rsquo;s grants and the total amount of shares invested are kept in the same basket by CAAN. The aviation authority is allowed to allocate its annual revenue and the government&rsquo;s grants to areas as required. With such allocations, we have completed construction of seven airports within the past three years. CAAN is also allocating funds to improve other airports. This fiscal year, CAAN is planning to improve eight airports in remote areas.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is being done to operate Nepali airline services according to the standards and rules of the International Civil Aviation Organization (ICAO)?</strong></div>
<div>
	CAAN is taking gradual steps for this. Nepal is also working to have safety audits considering ICAO standards. Similarly, we are planning to set parameters for both domestic and international flights, to systemize work process and policies, focusing on the safety of air services. CAAN will request to repair the aircraft&rsquo;s system for landing and take-off and if it is not complete, we will take action accordingly.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>CAAN has added parameters for Air Operator Certificate Requirements (AOCR). Airline companies are calling it impractical. What is your take on the matter?</strong></div>
<div>
	How is it impractical? Airline companies are not behaving as per the requirement of airline services and now they are calling the new AOCR impractical. A company that can bring an airline worth Rs 500 million can obviously pay the required amount for its certification. For the smooth operation of aircraft, we have set a deposit of Rs 2.5 million for helicopters, Rs 5 million for domestic flights and Rs 500 million for international flights. This parameter must be followed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What is the progress on CAAN&rsquo;s decision to buy an aircraft?</strong></div>
<div>
	CAAN is a regulatory body and is supposed to develop rules and regulations, conduct frequent analyses and training. An aircraft was needed for aviation training. The Authority possessed one aircraft 10 years ago which crashed and has not been replaced since. The Authority has thus allocated Rs 570 million to buy a Twin Otter aircraft. In case this amount is insufficient, some more funds will be provided. We are planning to open a tender to bring a Twin Otter aircraft by September 2015.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>There are rumours that CAAN is buying an aircraft to only serve politicians. What do you say?</strong></div>
<div>
	&nbsp;We have considered the matter of buying an aircraft very seriously. We will form specific parameters to operate it by providing 10 per cent of the maintenance cost for regular services of aircrafts and 90 per cent for business purposes. The maintenance and insurance costs, and additional parts of the aircraft are all included in the fund allocated for its purchase.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Why is the Authority weak in keeping a clear statement of income and expenditure of airports?</strong></div>
<div>
	We are analysing the income-expenditure figures of all airports currently. If we analyse the investment and operation costs of all airports, we can see that every airport including Tribhuvan International Airport (TIA) is making a loss. As for the annual operation of flights, only seven airports in trunk routes, that have maximum passenger flows are in profit.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>CAAN has a budget of Rs 11 million for this fiscal year. Is the construction of new airports included in it?</strong></div>
<div>
	Of the total budget, Rs 7 million has come from government grants and share capital and Rs 4 million has come from the Authority&rsquo;s internal source. The total expenditure of the Authority will mainly go to the construction and capacity enhancement of airports, keeping the government&rsquo;s suggestions in consideration.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-12',
			'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' => 'Ratish Chandra Lal Suman, the Director General of Civil Aviation Authority of Nepal (CAAN) shared the plans and parameters of CAAN and the International Civil Aviation Organization (ICAO).',
			'sortorder' => '1453',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1591',
			'article_category_id' => '122',
			'title' => 'A Constant Business Endeavour',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	&nbsp;</p>
<p>
	<strong>--By TC Correspondent</strong></p>
<div>
	<div>
		&nbsp;</div>
	<table align="right" border="0" cellpadding="1" cellspacing="1">
		<tbody>
			<tr>
				<td>
					<img alt="Rajesh Kazi Shrestha,Chairman, RK Associates" src="/userfiles/images/RKS.jpg" style="width: 175px; height: 192px;" /></td>
			</tr>
			<tr>
				<td style="text-align: center;">
					<div>
						<strong>Rajesh Kazi Shrestha</strong></div>
					<div>
						Chairman, RK Associates</div>
				</td>
			</tr>
		</tbody>
	</table>
	<div>
		RK Associates and its sister concerns such as Nepal International Business (NIB) Pvt Ltd and &nbsp; Constant Business Group (CBG) are authorised dealers of Lifan&rsquo;s motorbikes and cars and the brands Zotye, Proton, Jonway and Ssangyong. In business for the past 32 years, CBG and its promoters have been trading automobiles and dealing re-conditioned and brand new vehicles in Kathmandu.</div>
	<div>
		&nbsp;</div>
	<div>
		CBG started its business by first importing Lifan motorbikes to Nepal and later assembling them here. After selling a large number of motorbikes within a short time, the company felt the need to provide after sales services and spare parts to its customers, which it has now arranged for.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Rajesh Kazi Shrestha, Chairman of RK Associates, the group of companies that runs CBG, NIB, Alliance Insurance Company Ltd, Soaltee Hotel Limited, Status Trading Pvt Ltd among other companies, said that the Lifan Company has introduced SUVs in the Chinese market and that he plans to bring them to Nepal through Nepal International Business (NIB), an authorised distributor of Zotye International Automobiles of China.</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha claims that the company has sold more than 600 Zotye SUVs in Nepal in the past five years. &ldquo;Customers demand Zotye vehicles that use Mitsubishi engines and provide power, performance and quality to their rides; we brought the Jonway SUV in order to meet their demand,&rdquo; he says.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		NIB has also brought the Zotye Nomad, a mini SUV, to Kathmandu recently. An authorised distributor of Ssangyong Automobiles of Korea too, it has also introduced the four-wheeler Korando in the Nepali market.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<span style="font-size: 14px;"><strong>Starting a Business&nbsp;</strong></span></div>
	<div>
		Shrestha&rsquo;s interest in automobiles and his family&rsquo;s background in business lured him to the field of trading vehicles. &ldquo;While I was doing my B.Com, I realised that I my fortunes were waiting for me in this line and that prompted me to jump into this sector,&rdquo; he recalls. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Given to his keen interest in vehicles since childhood, Shrestha focused himself in the trading of vehicles. He is not, however, confined only to vehicle trading but also involved in insurance, banking, food and carpets, among other businesses. CBG&rsquo;s sister enterprises are looked over by Shrestha himself while others are taken care of by his business partners.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">New Launches</span></strong></div>
	<div>
		The company introduced the Higer bus in Nepal last Wednesday. The bus&rsquo;s primary clients are tourism and travel agencies and were brought to Nepal following the request of travel entrepreneurs.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;When I told them it was hard for me to provide the service unless there was a demand for more than 12 buses, tourism entrepreneurs came jointly with an order of 10 buses,&rdquo; says Shrestha, who also claims the buses will help boost the tourism industry in Nepal. Post the bus launch, CBG has been getting an overwhelming response from the market according to Shrestha. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		This initial response, although a boost for the company&rsquo;s morale, does not ascertain success as the depreciation of the rupee is bound to affect the market price and sales of vehicles. &nbsp;&ldquo;We have requested the company to reduce the price for pre-order in bulk,&rdquo; says Shrestha, revealing some cautionary measures for market uncertainty. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Market Challenges and Prospects</span></strong></div>
	<div>
		The spiraling value of the rupee has hit businesses hard and NIB is not an exception. Though the company is satisfied with increase in sales, Shrestha says the rate of return is too low and additional vehicles are not being imported due to the escalating price of dollars. &ldquo;We are in a wait and watch mode,&rdquo; Shrestha says adding that the company does not have immediate plans for market expansion unless the rupee strengthens against the dollar.</div>
	<div>
		&nbsp;</div>
	<div>
		With various models and brands available, Shrestha regards competition due multiple choices in the market as a major challenge for his company. To overcome this, the company is keeping a vigilant eye to provide something unique to its customers. &nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Nepal, however, is a lucrative market for SUVs, fancy cars, motorbikes, buses and other vehicles. Provided there is political stability in the country, Shrestha sees a very good prospective for automobile business here. &ldquo;People&rsquo;s purchasing power has gone up and they are demanding more,&rdquo; he says. &ldquo;Selling more vehicles would result in big transaction which bodes well to all including businessmen, government and the people.&rdquo;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Expectations from the Government&nbsp;</span></strong></div>
	<div>
		High import duties imposed on automobiles by the government, despite Nepal&rsquo;s WTO membership and commitment to gradually reduce custom duties, is affecting vehicle sales, according to Shrestha.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Entrepreneurs like him expect the government to formulate policies and laws in line with the obligation it has made for the WTO membership.</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha also demands the government to come up with an effective plan to replace old vehicles. &ldquo;Vehicles older than 20 years should be replaced. They consume too much fuel and pollute the environment,&rdquo; he says.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><span style="font-size: 14px;">Marketing Matters and the Future</span></strong></div>
	<div>
		Even though marketing work has become more simplified with information and technology, Shrestha is not satisfied with the way it is executed in Nepal. He admits that the business community here has not been able to fully tap the advantage of technology in this field. &ldquo;Sometimes, our marketing expenditure even surpasses our income,&rdquo; he says to demonstrate the point.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Shrestha emphasises the need for assessing consumer demand and market wave length as a first step to improvement. &ldquo;Our company formulates marketing strategies to increase our sales and we are trying to integrate appropriate technology in our marketing tools,&rdquo; he shares. &ldquo;But it is still uncertain as to whether investment in marketing would bring returns.&rdquo;</div>
	<div>
		&nbsp;</div>
	<div>
		With over 150 employees in total, Shrestha delegates responsibilities to a trusted team and receives updates and provides guidance through regular meetings. His future plans hinge upon the political and business climate of the country. But even as he echoes common frustrations among businessmen of a lack of encouragement for new ventures, Shrestha has not withheld from making optimistic plans for the future, for solar energy, agri-business and tourism are sectors he has kept an eye out for, he also reveals possibilities of importing airplanes from China soon.</div>
	<div>
		&nbsp;</div>
</div>
<div>
	<img alt="rk aSSOCIATES" src="/userfiles/images/spotlight1.jpg" style="width: 500px; height: 112px; margin-left: 15px; margin-right: 15px;" /></div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#FFFFFF">
				<p>
					<span style="font-size: 14px;"><b>AT A GLANCE</b></span></p>
				<div>
					<div>
						&nbsp;</div>
					<div>
						<div>
							<strong><span style="font-size:14px;">Higer Buses Launched</span></strong></div>
						<div>
							<img alt="Higer Bus" src="/userfiles/images/HIGER%20BUS.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 182px;" />Nepal International Business Pvt. Ltd has brought Higer Bus in Nepali market. The bus is produced by Higer Company of China. Tourism entrepreneurs are the main target customers of the company for these buses. &nbsp;The buses were launched by Chief Secretary Lila Mani Poudyal and Chinese Ambassador to Nepal, Wu Chuntai, amid a program in capital last week. &nbsp;Designed to suit the topography like of Nepal, the company has believed, this brand of the bus will be popular in Nepali market very soon. The newly introduced buses have the seat capacity of 29 to 35, according to the company. The company has also offered the warranty for 18 months while maintenance and the buses&rsquo; spear parts can be easily available from the company. Air condition cooling and heating, luggage compartment with cool air outlet, luxurious seats, reverse display monitor, Electrophoretic technology guarantee and corrosion resistance, among others, are the main features of the bus.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong><span style="font-size:14px;">Vehicle Brands Imported by CBG</span></strong></div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Zotye Nomad SUV</strong></div>
						<div>
							CBG is also an authorised distributor of Zotye International Automobiles of China in Nepal. The Company had also brought the Zotye Nomad mini SUV in 2011. Zotya Nomad SUV- 3,970 mm long, 1,570 mm wide and 1,733 mm tall - &nbsp; has 1,500 cc petrol engine with 16 valves and a multi-point electric fuel injection system. Zotye Nomad is available in seven colors&mdash;pure white, crystal silver, light black, pure red, light blue, dark blue and bright black.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Jonway SUV</strong></div>
						<div>
							CGP is also an authorised dealer of Jonway Companies&rsquo; products in Nepal. Jonway Auto Company is the main exporting automobile company of China. &nbsp;It has minimum grounded clearances of 200 mm. The ISO 9001: 2000 certified company has been exporting its products to around 40 countries.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>SSangYong Cars</strong></div>
						<div>
							CGP is also an authorized dealer of SsangYong, the automobile manufacturing company based in South Korea. It had introduced the new model of its second generation Korando cars in the Nepali in April, 2011. Korando brand cars are sold in 82 countries around the world. The price tag of Korando car was Rs. 4,775,000 at the time of launch.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Lifan</strong></div>
						<div>
							The sister concern of the CGP has sold Lifan motorbikes in Nepal. Later, it also started assembling the motorbikes itself in Nepal. &nbsp;The company has the service center and spare parts for Lifan customers.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							<strong>Proton</strong></div>
						<div>
							Sole authorized distributor of Malaysia based auto manufacturer Proton in Nepal, CGP sells Proton Persona, Gen.2 and Savvy&mdash;in the Nepali market.&nbsp;</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
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			'description' => 'Active in business for over three decades, the Constant Business Group’s Rajesh Kazi Shrestha is now attempting to expand his turf to agriculture, tourism and solar energy.',
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	(int) 4 => array(
		'Article' => array(
			'id' => '1590',
			'article_category_id' => '160',
			'title' => 'Corptoon Issue 26',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-08-11',
			'modified' => '0000-00-00',
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			'description' => 'Corptoon Issue 26',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1589',
			'article_category_id' => '91',
			'title' => 'Hydro Meets In The Offing',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The Independent Power Association of Nepal (IPPAN) and Hydroelectricity Investment and Development Company Limited (HIDCL) will be organising consecutive meetings of the hydro power sector from August 26-29.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hosting the Power Summit 2013 on August 26-27, IPPAN is collaborating with PTC India limited (PTC) and the Nonresident Nepali association (NRNA) to catalyze the hydropower sector in the face of political instability. The power summit will conduct a critical review of where the hydropower sector has reached since 2006, assessing what is lacking and what needs to be in place in order to hasten the pace of the sector.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	A key point to be raised is the seven-year period of slow growth of the sector which has only been able to generate 180 MW of electricity &ndash; 110 MW coming from the private sector and 70 MW from the NEA. Participants of the event include stakeholders from Brazil, China, Czech Republic, France, India, Korea, Nepal, Norway and USA.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meetings on August 28-29 include a hydropower investment meet by HIDCL supported by the Ministry of Energy, the Ministry of Finance, The Investment Board of Nepal (IBN) and the Asian Development Bank (ADB). Major attractions include the participation of international and domestic hydropower developers, investment companies, sovereign wealth funds and utility companies. The programme will focus on a long overdue follow-up by the investor&rsquo;s forum and a reflection by ADB. &nbsp;</div>
<div>
	&nbsp;</div>',
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			'description' => 'The Independent Power Association of Nepal (IPPAN) and Hydroelectricity Investment and Development Company Limited (HIDCL) will be organising consecutive meetings of the hydro power sector from August 26-29.',
			'sortorder' => '1450',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1588',
			'article_category_id' => '91',
			'title' => 'NPR Depreciation Taking Toll On Nepali Economy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	The sharp devaluation of the Nepali rupee (NPR) is causing various macroeconomic impacts on the Nepali economy. The local currency which maintains an exchange rate peg with the Indian rupee (INR) has depreciated by about 13 per cent between 1st May and 9th August of 2013 against the US dollar. The weakness of INR is caused by India&rsquo;s slowing economic growth combined with a widening current account deficit (mainly due to rising petroleum and gold imports), decline in exports and the strengthening of the US dollar as economic recovery in the US gathers pace. &nbsp; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the NPR continuously losing strength against the USD, the Nepali economy is facing significant negative impacts. As the USD becomes dearer, Nepal needs to allocate a huge sum of funds for foreign loan repayment. The strengthening USD is pushing interest rates higher and exerting pressure on the central bank to manage a huge foreign currency reserve for loan repayment. This will increase the country&rsquo;s debt which was 34.1 per cent of the gross domestic product (GDP) in the fiscal year 2011/12. Nepal&rsquo;s debt to GDP ratio is following a declining trend from the record high of 44 per cent in FY 2007/08.</div>
<div>
	&nbsp;</div>
<div>
	The currency devaluation is also likely to further widen trade deficit with India, the largest trading partner of Nepal. This is due to import payments that are made in USD, which is done by selling INR from Nepal&rsquo;s forex reserve. Since the INR has plunged to a historic low against the USD, Nepal is forced to sell more INR for import payments. In the 11 months of FY 2012/13, Nepal&rsquo;s trade deficit with India jumped by 27.4 per cent to Rs 289 billion compared to the 13 per cent growth recorded in FY 2011/12. Since Nepali production is insufficient to fulfill internal demand, the country relies heavily on import. This will be reflected in the increase of the final price of retails goods and services in the domestic market. Petroleum import will also become costlier due to the currency devaluation. The international petroleum price, which is maintained in dollar terms, has gone up in recent months due to the rise of USD.</div>
<div>
	&nbsp;</div>
<div>
	Nepal imports petroleum through the state-owned Indian Oil Corporation (IOC). The price rise in petroleum, retail goods and services will finally lead to an increased inflation rate.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the impacts are largely negative, currency devaluation has some positive effects like Remittance, Nepal&rsquo;s major source of foreign currency income is likely to rise by the strengthening of the USD. This will help to maintain the country&rsquo;s balance of payment (BOP) surplus. According to data published by Nepal Rastra Bank (NRB), the overall BOP recorded a surplus of Rs. 52.69 billion during the 11 months of FY 2012/13 compared to a surplus of Rs. 115.76 billion during the same period of the previous year. Likewise, income from tourism will also increase as foreign visitors can spend more following the dollar appreciation. Similarly, Nepali export earnings, especially from merchandise goods such as handicrafts, garments and carpets may increase as exports will become more competitive with the weakening of domestic currency. However, Nepal may not be able to take advantage of currency depreciation from export earnings due to several reasons. High cost of production due to rising price of imported raw materials, long-standing electricity shortages and labour disputes are seen as factors hindering the country&rsquo;s export sector.&nbsp;</div>
<div>
	&nbsp;</div>',
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			'description' => 'The sharp devaluation of the Nepali rupee (NPR) is causing various macroeconomic impacts on the Nepali economy.',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1587',
			'article_category_id' => '91',
			'title' => 'Govt Indifference Puts Investment Board At Limbo',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	Thanks to the government&rsquo;s gross indifference towards the Investment Board (IB), which was established with an authority to create investment friendly environment, is now rendered in a dysfunctional state. Even after two years of establishment, the IB hasn&rsquo;t been able to lure any single major project despite its lofty plans to promote national and foreign investments.</div>
<div>
	&nbsp;</div>
<div>
	The Investment Board Nepal was established as a one-stop service centre for foreign and local investors two years ago under the Investment Board Nepal Act, 2068.</div>
<div>
	&nbsp;</div>
<div>
	The Babu Ram Bhattarai-led government had handed over a total of 14 mega projects, including five large hydropower projects, to the IB in May 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It aims to promote economic development by mobilizing and managing public-private partnership, cooperative and domestic and foreign private investments.</div>
<div>
	&nbsp;</div>
<div>
	Chairman of Interim Election Council Khilraj Regmi is the Chairman of the IB, while he has deputed Federal Affairs and Local Development and Health and Population Minister Bidyadhar Mallik to assume the role of Vice-chairperson in the 11-member board.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Finance Minister, Forestry Minister and Industry Minister are also the board members for the IB. However, according to a source inside the IB seeking anonymity complained that none of the ministries have been much supportive towards the Board.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The government hasn&rsquo;t yet provided the human resources required to the Board for the smooth functioning and to facilitate the large scale investment projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Allocating a budget of Rs 120.9 million &nbsp;to the Board for FY 2013-14, Finance Minister Shankar Koirala has stated that the mechanism would be made resourceful. But economic analysts lament that the budget falls short in addressing the expectations to enhance the institutional capacity as well as equipping it with the technical experts.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Mukunda Paudyal, Joint-Secretary at the IB, informed that the budget allocated by the government to the Board in one-third of the Board&rsquo;s demand.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Budget apart, we have made many policy prescriptions to the government and asked it to amend the laws related to investment. However, the government turned deaf ear towards our recommendation,&rdquo; he told The Corporate.</div>
<div>
	&nbsp;</div>
<div>
	The absence of the legislative parliament has also posed a problem for amending laws that are creating hurdles for the investment friendly atmosphere. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The structure of the Investment Board is also a stumbling block towards attracting investors on the sectors that the IB has prioritized, another official in the IB told The Corporate seeking anonymity. He further explained that the Board comprises the members from the business community too who are not much welcoming the new investors in the same field much members are involved. &ldquo;They have also investment in the priority sectors of the IB so they might not be interested to bring other investors in the same sectors. There is conflict of interest.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Likewise, the government is less bothered to own the work of the IB, a source said. &ldquo;We are in the process of doing the Power Development Agreement for four hydro power projects now. If there was a political government, it could have given impetus to complete these projects,&rdquo; he argued, &ldquo;as owning these achievements after bringing the large investors in these projects could mean a lot in terms of political capitalization.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the much touted Investment Year 2012-13 turned to be a non-starter. It failed to yield any tangible result despite its claim that it would attract major foreign investments during this celebrated year. The IB hasn&rsquo;t even been able to chart out the strategy to bring big foreign investors in Nepal. &ldquo;We haven&rsquo;t made it yet due to our busy schedule and owing to the country&rsquo;s political situation,&rdquo; Poudyal said.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Thanks to the government’s gross indifference towards the Investment Board (IB), which was established with an authority to create investment friendly environment, is now rendered in a dysfunctional state.',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1586',
			'article_category_id' => '34',
			'title' => 'Volkswagen Sales In Nepal Reaches 1000 Units',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Pooja International Nepal, authorised importer of Volkswagen, organised a press meet to celebrate the sales of 1000th Volkswagen in Nepal. Henning Hansen, First Secretary, Charg&eacute; d&#39; Affaires, German Embassy Kathmandu was the chief guest for the programme. He handed over the car key of New Passat to Jimmy Shrestha, the 1000th owner of Volkswagen cars in Nepal. Shrestha, the Director of Hatale Udhyog in Sitapaila, said, &quot;Volkswagen has always been known for outstanding driving pleasure, safety and comfort besides its elegant design and styling. I am proud and delighted to own the 1000th Volkswagen in Nepal.&quot;<br />
	<br />
	Bibek Bijukchhe, Chief Executive Officer of Pooja International Nepal, said, &ldquo;Volkswagen has been able to compete in the mass segment while being known for their superior built quality. It&rsquo;s the brand, man, machine and network which helped us win the hearts of Nepali customers in just around three years.&rdquo; &ldquo;We have a target to deliver 800 Volkswagen cars nationwide in fiscal year 2070/71,&rdquo; said Sarik Bogati, Marketing Manager of Pooja International Nepal.The programme was organised at the Volkswagen Showroom in Lazimpat.<br />
	<br />
	<br />
	&nbsp;<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-10',
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			'description' => 'Pooja International Nepal, authorized importer of Volkswagen, organized a press meet to celebrate the sales of 1000th Volkswagen in Nepal. Henning Hansen, First Secretary, Chargé d' Affaires, German Embassy Kathmandu was the chief guest for the programme.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1585',
			'article_category_id' => '34',
			'title' => 'Colors Introduce X 109',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Colors Mobile is known for its premium yet affordable series of mobile phones. And it continues to expand its series with the latest offering &ndash; X 109 under its X series phones. So if you are looking for a feature-rich phone with a price tag that comes under a reasonable range, Colors X 109 is the answer for you.<br />
	<br />
	X 109 comes with 3.5 inch HVGA (480x320) capacitive multi-touch screen that gives you smooth touch experience. This phone flaunts an impressive design with curved back and edges. Packed with 1.3 MP Camera, this phone is loaded with many other features like the inbuilt Audio/Video Player of the phone that allows you to watch videos and capture/record life&rsquo;s special moments and a powerful battery of 1000 mAh that provides a longer talk time and a freedom from frequent charging.<br />
	<br />
	X 109 supports GPRS connection and has WI-FI support system enabling you to experience internet at its best. The phone also has some exciting inbuilt apps such as Facebook and Opera. While a feature such as the Bluetooth technology helps in adding hands free comfort, another feature like &lsquo;Analog TV&rsquo; allows you to watch your favorite programme on your mobile phone. X 109 also has a wireless FM radio so you can have your favourite radio stations on the fingertips.<br />
	&nbsp;<br />
	There is one year warranty on the mobile handset and six months warranty on battery and charger.<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	<br />
	&nbsp;</p>',
			'published' => true,
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			'description' => 'Colors Mobile is known for its premium yet affordable series of mobile phones. And it continues to expand its series with the latest offering – X 109 under its X series phones. So if you are looking for a feature-rich phone with a price tag that comes under a reasonable range, Colors X 109 is the answer for you.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1584',
			'article_category_id' => '34',
			'title' => 'Everest Bank’s Asha 2070 Fixed Deposit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	As a part of its continuous efforts to provide innovative products/services, EBL recently launched a new deposit product called &ldquo;Asha 2070 Fixed Deposit&rdquo;. The new scheme has been launched with an objective of inculcating habit of long-term savings among the General Public. The product is targeted at the individuals intended to have higher return than the regular Fixed Deposit over a period of time.<br />
	<br />
	Under this scheme, the deposit not only attracts higher rate of interest but also accumulates a handsome amount with quarterly compounded interest during a period of 2070 days. Further, the customers will also have other privileges like 50 percent discount on annual locker charge as well as the waiver of security deposit during the tenure of Deposit.<br />
	<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-08-06',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'As a part of its continuous efforts to provide innovative products/services, EBL recently launched a new deposit product called “Asha 2070 Fixed Deposit”. The new scheme has been launched with an objective of inculcating habit of long-term savings among the General Public. The product is targeted at the individuals intended to have higher return than the regular Fixed Deposit over a period of time.',
			'sortorder' => '1445',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1583',
			'article_category_id' => '150',
			'title' => 'Business Briefs (5 -11 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><img alt="eScan Version 14" src="/userfiles/images/ESCAN.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 74px;" />eScan Version 14 Introduced&nbsp;</strong></div>
<div>
	Phoenix Trading, eScan Authorized Distributor for Nepal has launched eScan Version 14 for SOHO editions with cloud security. According to the company, the new version aims to provide a secured computing environment, and is in accordance with the feedback from global users. eScan 14 has been developed to be very light on system resources and does not slowdown the user&rsquo;s system, says a press release from the company.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="The British College" src="/userfiles/images/TBC.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 71px;" />Open Day at The British College&nbsp;</strong></div>
<div>
	The British College organised Open Day for interested students on July 31. Participating students received a detailed presentation from International Education Consultant, Graham Minshaw. During the presentation, Graham discussed the UK education system and informed students what they should expect when studying on a UK degree.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Tata Safari " src="/userfiles/images/TTSFR.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 80px;" />Tata Safari Storme in Nepal&nbsp;</strong></div>
<div>
	Siprdai Trading has launched Tata Safari Storme in the Nepali market. Dubbed as the &lsquo;Real SUV&rsquo;, Storme is claimed to be the combination of luxury, power and off-road performance. The SUV is powered by a 2.2 litre VariCOR turbocharged engine delivering a maximum output of 140 ps and a peak torque of 320 NM. According to the company, the SUV can accelerate from 0 to 100 kms in 14 seconds. The price of Safari Storme starts from Rs 3.78 million.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Gitanjali Jewels" src="/userfiles/images/GITANJALI.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 46px;" />Gitanjali&rsquo;s Facebook Offer&nbsp;</strong></div>
<div>
	Gitanjali Jewels has introduced an offer on its official facebook page as a part of its online promotion. The offer is named &lsquo;Like and Win a Diamond Pendant&rsquo;, and users liking the Gitanjali page on facebook will win a diamond pendant worth Rs 10,000. Two Lucky winners will be selected every week through a random lucky draw. The link to Gitanjali facebook page is www. &nbsp; &nbsp;facebook.com/GitanjaliJewelsNepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Samsung’s New Smartphones" src="/userfiles/images/SMSNG.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 115px; height: 61px;" />Samsung&rsquo;s New Smartphones&nbsp;</strong></div>
<div>
	Samsung has introduced three new smartphones in the market, namely Galaxy Mega, Galaxy Core and Galaxy Pocket Neo. Galaxy Mega comes with a 5.8 inch screen and runs on Android 4.2.2, and has 1.5 GB RAM and 1.4 GHz dual-core processor. It is priced at Rs 44,000. Galaxy Core is a dual SIM smartphone with android 4.1 OS, 4.3&rdquo; screen, 1 GB RAM and 1.2 GHz Dual Core Processor and costs Rs 28,500. Dual SIM Galaxy Pocket Neo has android 4.1.2 OS, 512 MB RAM and is priced at Rs 12,300.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-06',
			'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' => 'Phoenix Trading, eScan Authorized Distributor for Nepal has launched eScan Version 14 for SOHO editions with cloud security.',
			'sortorder' => '1444',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1582',
			'article_category_id' => '149',
			'title' => 'Quality Is A Sign Of Success',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari</strong></div>
<div>
	&nbsp;</div>
<table align="right" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Devraj Mishra ,Chairman Karuna Interior Pvt Ltd" src="/userfiles/images/DEVRAJ.jpg" style="width: 175px; height: 192px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				<div>
					<strong>Devraj Mishra</strong></div>
				<div>
					Chairman</div>
				<div>
					Karuna Interior Pvt Ltd</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Karuna Interior Pvt Ltd, a familiar name for interior works and furniture was established in 1990. After three years of operation, the company expanded itself to the field of metal structural works and aluminum fabrication.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Named after the mother of chairman, Devraj Mishra, the venture began as a family business which commenced wooden furniture manufacturing in 2005. With the widening scope of furniture business, Karuna has enhanced its services and has now become one of the best interior service providers in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;What we create for you is not our creation, but your own,&rdquo; says chairman Mishra, explaining the company&rsquo;s tagline &ldquo;The user is the dreamer; the dreamer, the owner&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have a variety of products and they are popular among our clients not only due to the reasonable price but also for our prompt service, amazing designs and best quality materials,&rdquo; added Mishra.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With more than 40 employees at present, the company faced many ups and downs from its inception to its current market status. &ldquo;Our main hurdles ranged from the lack of knowledge among customers on interior design and conventional practice of not adhering to advice, poor discussion during design phase, the inability to visualise the end product and demands for change after work is done with,&rdquo; informed Mishra.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Considering all problems and crises as good lessons, the company actively introduced a new technique to run business and has been dealing with interior design related products and services among customers who want to decorate residential buildings, offices in commercial complexes or private buildings.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company asserts that its target groups are middle and upper-middle class families - their individual homes, apartments or rented living spaces; banks and financial institutions, corporate business houses, hotels/ restaurants, schools/colleges and government offices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With a single outlet at Gairidhara Kathmandu, the company&rsquo;s market mostly extends to the Capital only. According to Executive Director Bipin Sharma, the company is focused on customer satisfaction with after sales service quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company does not believe in competition as it believes that the best one always stands out without having to compete. &ldquo;The brand name is a strength in itself and our dedication towards our customers will ensure its strength in the future,&rdquo; adds Sharma.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sharma says the company has annual advertisement plan through print media. The company focus on social networking as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With plans to construct a well-equipped factory in Dahachok, Kathmandu and an expanding showroom space in Gairidhara, the team at Karuna Interior Pvt. Ltd. continues to provide satisfying services to its customers.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-06',
			'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' => 'Karuna Interiors Pvt Ltd has come a long way in establishing its market in interior design services',
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	(int) 13 => array(
		'Article' => array(
			'id' => '1581',
			'article_category_id' => '115',
			'title' => 'Lifestyle And Technology News In Brief (5-11 August 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>Humanoid Robot Launches on Japan Rocket&nbsp;</strong></div>
<div>
	<img alt="Humanoid Robot Launches on Japan Rocket" src="/userfiles/images/humanoid.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 87px;" />Japan&rsquo;s space agency says the first talking humanoid robot &ldquo;astronaut&rsquo;&rsquo; has taken off in a rocket. Kirobo derived from the Japanese words for &ldquo;hope&rsquo;&rsquo; and &ldquo;robot&rsquo;&rsquo; _ was among five tons of supplies and machinery on a rocket launched Sunday for the International Space Station from Tanegashima, southwestern Japan. Developers say the childlike robot will be a companion for astronaut Koichi Wakata and will communicate with another robot on Earth. Robot designer Tomotaka Takahashi, of the University of Tokyo, advertiser Dentsu and automaker Toyota Motor Corp. worked on the robot.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Apple Once Again the World&rsquo;s Most Valuable Company&nbsp;</strong></div>
<div>
	<img alt="Apple Once Again the World’s Most Valuable Company " src="/userfiles/images/apple.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 64px;" />Apple has again become the world&rsquo;s most valuable company as rumors of upcoming next-generation iPhones and iPads are spreading. Apple toppled Exxon Mobil from its number one spot as its market capitalization went up by 0.9% to $414 bn. Exxon overtook Apple&rsquo;s market cap in late January of this year, amidst a continued sell-off of its stock. It lost the title last Thursday as its shares were down 1.8% on its disappointing earnings report, giving the firm a market capitalization of $409bn, Market Watch reports. Apple share price has last reached $457. However, the company is still $100 short from the beginning of 2013. Last September 2012, the company&rsquo;s share price went as high as $700, its highest so far. Investors are hoping that the company can now gain its momentum as consumers anticipate the debuts of the iPhone 5S, iPhone 5C, which is a low-cost iPhone, a fifth-generation iPad, an iPad mini with retina display and iWatch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Google to Bring &lsquo;Find My Device&rsquo; Feature to Android&nbsp;</strong></div>
<div>
	<img alt="Android Operating System maker Google" src="/userfiles/images/google%20android.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 72px;" />Android Operating System maker Google announced that it will offer a new service to help users keep track of their Android devices from afar. The service, called Android Device Manager, is similar to the &ldquo;Find My iPhone&rdquo; service outed by Apple in 2011, and enables Android phone and tablet owners to remotely find and manage their lost devices. Users will be able to view the current location of their devices on a map; lock their devices remotely; or, if they think a device has been stolen, activate a noisy alarm in order to ward off thieves, or erase all memory on their device. All of this can be done by logging into the Android Device Manager website on any laptop, desktop or other mobile device. The feature will become available later this month and will be able to track all devices running Android 2.2 or newer; a companion app will also be available for download in the Google Play Store.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Valve Appoints Gaming Economist&nbsp;</strong></div>
<div>
	<img alt="Valve Appoints Gaming Economist" src="/userfiles/images/vALVE.jpg" style="
float: left; margin: 0px 10px 0px 0px;width: 115px; height: 90px;" />Game maker Valve has appointed an in-house economist to help manage the virtual economies that have sprung up around its many titles. The company has signed up economics professor Yanis Varoufakis as their resident expert adviser. Valve contacted Prof Varoufakis as it started to think about linking game economies and hit virtual currency exchange problems. It comes as South Korea attempts to crack down on trading in video games. In a blog explaining how he came to work for Valve, Prof Varoufakis said first contact was made by Gabe Newell, president of the games company.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-05',
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			'description' => 'Japan’s space agency says the first talking humanoid robot “astronaut’’ has taken off in a rocket.',
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	(int) 14 => array(
		'Article' => array(
			'id' => '1580',
			'article_category_id' => '116',
			'title' => 'Sony Launches New Bravia Models In Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Japanese television manufacturer Sony has launched its latest range of HD Bravia TVs in Nepali market. The TVs are equipped with latest version of Wi-Fi connectivity. &ldquo;Announced earlier at the Consumer Electronic Show (CES), the new W- and R-series LED models are now available in Nepal and optimises Sony&rsquo;s proprietary technology to deliver images with vibrant hues and sounds with deeper bass and crystal-clear clarity,&rdquo; says a statement by Nepa Hima Trade Link, the authorised distributor of Sony&rsquo;s products for Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Sony has used a new display technology termed as Triluminos in the latest Bravia models. The technology uses integrating QD Vision&rsquo;s Color IQ1 optical component with Sony&rsquo;s unique display technologies to reproduce a higher gamut of colours on screen, making display images appear more life-like and vivid. With 1 Color IQ and the Color IQ logo are trademarks of QD Vision, Inc. Color IQTM is an advanced light emitting semiconductor technology developed by QD Vision, Inc. &ldquo;Using this technology images on the Bravia KDL-W954A and Bravia KDL-W904A become more appealing, colours appear richer and there is a greater sense of depth,&rdquo; states the statement. Similarly, Sony also claimed that the enhanced XReality Pro picture engine (present in the new W-series models) delivers unprecedented picture quality and when coupled with the Triluminos display, &ldquo;makes one feel like you&rsquo;re looking through an open window panel.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The new Bravia lineup is also equipped with latest sound system. The TVs come with Sony&rsquo;s patented Signal-to-Sound Architecture, which employs the latest sound-engineering techniques for immersive audio experience. The KDL-W954A houses an ultra-slim two-way bass reflex speaker and stand-alone tweeter in an isolated cabinet to minimise acoustic energy being lost or distorted inside the box, while the KDL-W904A uses a discreetly integrated 1.2m speaker duct to evoke unparalleled bass and mid-range sounds for a unit of its size. The other three W-series models (KDL-W804A, KDL-W704A and KDL-W674A) come equipped with a compact bass reflex speaker.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Another key feature in the series includes Sony&rsquo;s One-touch mirroring function. Employing NFC technology, users can wirelessly amplify content, be it videos, images or applications, from their smartphones on to their TV screens with a single tap. A similar function to One-touch, Screen mirroring functionality provides users of the BRAVIA KDL-W804A, KDL-W704A, KDL-W674A and KDL-R550A with the option to wirelessly mirror and share video and audio content via their Miracast supported mobile devices, such as the Sony Xperia Z, V, SP and L.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The TVs are preloaded withTV Sideview application that allows a user to control the W-series models using a smartphone or tablet. Available on both Android and iOS platforms, the app also provides supplementary content such as cast details, episode synopsis and related programmes that might be of interest to the user.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Sony, the latest Bravia line-up also fulfils the needs of gamers. The TVs comes with 3D Simulview feature that allows two simultaneous players to play against each other without seeing a split screen. First showcased on Sony&rsquo;s flagship 84&rdquo; 4K TV last year, this year&rsquo;s offerings now all offer either active or passive 3D Simulview gaming capability in Full HD.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The new range of Bravia TVs will be available in Nepal from Rs 84,999.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Japanese television manufacturer Sony has launched its latest range of HD Bravia TVs in Nepali market.',
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