…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1564', 'article_category_id' => '153', 'title' => 'Convenience Stores Target Expansion', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <p> <strong style="font-size: 12px;">--By TC Correspondent</strong></p> <div> <div> Given the ever escalating population of the Kathmandu Valley, the need for convenience stores which can address the basic needs of customers, is being felt more than before. A convenience store is a small store, mostly located in densely populated areas, that stocks everyday items like groceries, toiletries, soft drinks, tobacco and liquor products along with other customised services. </div> <div> </div> <div> “Convenience stores are a successful business in western countries,” a manager with the Chaudhary Group promoted CG Mart remarked, adding, “We are confident that the idea is bound to pick up in Nepal too.” The people of Nepal are becoming busier and problems of space in core areas are rising, increasing the need for such stores. </div> <div> </div> <div> As the name suggests, the stores are mainly operated for the convenience of busy people. While some stores operate till late hours for the benefit of people who work in the evenings, they are also meant to facilitate busy and single people for their shopping needs. Some convenience stores also feature spaces where people can get their tea/coffee and ready-to-eat items for snacking needs. </div> <div> </div> <div> <strong>The Shift </strong></div> <div> The attitude and expectation of people towards shopping has changed completely. There used to be a time when people hopped from one shop to another looking to buy different commodities. However, the trend of convenience stores offering a wide range of items in a single place has caught on. “Not too long ago, Nepalis used to hesitate to enter convenience stores, but now the trend has witnessed a radical shift with a large number of convenience stores opening, targeting the middle class and offering quality products at reasonable prices,” said an observer. </div> <div> </div> <div> ‘Single shutter’ cold stores have turned to convenience stores in recent times and sell thousands of products from hundreds of local and international suppliers. This has resulted in direct employment of scores of local people in their own neighbourhood. </div> <div> </div> <div> <strong><img alt="CGMART" src="/userfiles/images/focus1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 225px;" />Expansion Spree </strong></div> <div> The movement in this sector has been rather evident. KK Store, a Malaysian chain store brand now operates four stores in Kathmandu. Similarly, CG Mart, Big Mart and Stuti Mero Mart among others too have opened multiple stores and boast of expansion plans in the Kathmandu Valley as well as other parts of the country. </div> <div> </div> <div> CG Mart also plans to develop convenience stores in a franchise style. “Those who are currently operating a mini-mart or a small supermarket can brand it in our name. However, they need to follow the rules and norms set by us,” said an official. CG is planning to open 10-12 convenience stores in Kathmandu this year and intends to increase the number to more than 100 in another two years. Apart from Kathmandu, the company has aimed to open stores in Pokhara, Butwal and Biratnagar. </div> <div> </div> <div> Stuti Mero Mart, a local chain of convenience stores, has expanded its presence in Kathmandu by opening outlets in Ghattekulo, Katyayani Chowk and Sinamangal. One of the major aims of Stuti Mero Mart is to expand its presence in all 35 wards of Kathmandu Metropolitan City. “We will be opening 17 more outlets in Kathmandu district within one-and-a-half years,” a store manager said. Upon completion of the expansion process in Kathmandu, Stuti intends to venture into Lalitpur and Bhaktapur districts before penetrating markets located outside the Kathmandu Valley. </div> <div> </div> <div> Mega Mart, the operator of Big Mart stores, has firmed plans to expand its retail network by opening 11 new stores in Nepal in 2013 including stores at Sanepa, Old Baneshwor, Sinamangal, Kalanki, New Bus Park, Pepsicola and Dholahiti in Patan. A manager at Big Mart said the store expansion programme is part of the company’s strategy to expand into neighbourhood regions. “Our aim is to reach out to as many places as possible for the convenience of our customers,” he said. The company also plans to expand outside the Kathmandu Valley by opening stores in Pokhara and Biratnagar. </div> <div> </div> <div> <strong><img alt="BIGMART" src="/userfiles/images/focus2.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 225px;" />Major Players </strong></div> <div> CG Mart stores offer everyday items like groceries, toiletries, beverages, tobacco and liquor along with various customised services. Stores located in densely populated areas have been designed to fulfill the daily requirements of people residing or working nearby. Largely famous in Western countries, the company believes that the concept will be equally popular in Nepal. The company has set up its own supply chain so that they need not depend on other agencies for stock. It believes that the supply chain will also help to price the goods nominally. CG Mart opens from 7 am to 11 pm to cater to the needs of people with busy schedules. </div> <div> </div> <div> ANS Co has ventured into retail business by opening a chain of convenience stores named Stuti Mero Mart in different parts of Kathmandu. An official of the company said the main objective of the mart is to provide an impeccable shopping experience at the local level. </div> <div> </div> <div> Stuti Mero Mart outlets open from 8 am to 8 pm and boast of a collection of around 7,500 items, both domestic and imported. These items range from spices, meat and confectionaries to cosmetic items, toiletries, liquor and kitchen ware. All its outlets are spread over an area of 2,000 to 3,000 sq ft with each store hiring 8-10 local employees. All outlets of Stuti Mero Mart are also providing free home delivery service for the convenience of its customers. Stuti Mero Mart is also planning to launch an online store soon so that customers can place orders from home. </div> <div> </div> <div> Big Mart, on the other hand, maintains four stores at City Center in Kamalpokhari, Lazimpat, Shantinagar and Jhamsikhel. Big Mart plans to take its store tally to 15 by the year-end. </div> <div> </div> <div> <strong>Store Locations </strong></div> <div> Possibility and feasibility are the prime factors in determining the locations of convenience stores, said a store manager of Big Mart. CG Mart too said it chooses the location as per its plan to penetrate high-potential areas for retail business. “We plan to open stores in highly populated areas to meet daily requirements of people residing there or working nearby,” it said. </div> <div> </div> <div> CG Mart plans to open around 300 to 400 outlets across the country within the next three years. Outside the valley, CG Mart will expand in areas having high density population like Pokhara, Butwal and Biratnagar. </div> <div> </div> <div> <strong>Target Market </strong></div> <div> “We are mainly targeting new and affluent suburbs of Kathmandu,” said a manager at Mega Mart. Big Mart stores cater to the needs of people from all income groups. Besides the usual products, the store also features chicken, goat and buffalo meat. </div> <div> </div> <div> <strong>The ‘Chain’ Effect </strong></div> <div> A chain of convenience stores usually have uniform products, mostly consisting of consumables. Even though they do not command large volumes as stand alone units, the numbers start becoming significant when one combines the volume going out to all stores. This factor provides the companies leverage against suppliers, allowing them to negotiate for larger margins. Those benefits could then be passed on to the consumers. The chain stores in Kathmandu are already operating for 16 hours a day and in the future, there is scope for 24-hour stores, said industry analysts. Chain stores in Nepal could also emulate stores abroad and provide tea/ coffee, hot food and other related items that would make these stores even more convenient for consumers, they said.</div> </div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Popular convenience store chains in Kathmandu are looking to rapidly expand their business by opening new outlets.', 'sortorder' => '1425', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '1563', 'article_category_id' => '154', 'title' => 'Learning Curve News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Committee Formed to Celebrate 8th National Library Day </strong></div> <div> A main organisation committee has been formed in the chairmanship of Narayan Gopal Malego, secretary of the Ministry of Education, to celebrate the 8th National Library Day on Bhadra 15 (August 31st). Bhim Dhwoj Shrestha, chief at the Tribhuwan University’s Central Department of Library and Information Science, has been appointed as Vice-chairman of the committee. The National Library Day has been celebrated annually for the last 7 years to increase awareness about libraries. The committee has decided to celebrate this year’s library day as a weeklong celebration. </div> <div> </div> <div> <strong>BBA Programmes to have 4th Year </strong></div> <div> The Ministry of Education has directed colleges with Indian university affiliation offering BBA (Bachelor in Business Administration) programmes to extend the programme to 4 years. As the BBA programmes offered in Tribhuwan University (TU) and Kathmandu University (KU) are of 4 years, the ministry has directed colleges with Indian university affiliations to change their programmes to 4-year-programmes too. This step has been taken to maintain the equivalence among students from Nepali universities and Indian universities. </div> <div> </div> <div> <strong>PF for Community Schools’ Staff </strong></div> <div> Staffs of community colleges are now to be provided with Provident Funds (PF) and gratuity. The Ministry of Education has made ‘service laws’ according to which staffs who have served for 5-10 years will get half a month’s salary as gratuity annually. Those who have served for 10-15 years will get a month’s salary as gratuity and persons who have served for more than 15 years will get a month and a half’s worth of salary as gratuity annually. The law has been made by the Ministry of Education, guaranteeing services and facilities for community school staffs in accordance with the order of the Supreme Court. </div> <div> </div> <div> <strong>Private Schools not to Increase Staff Salary </strong></div> <div> Though the government increased the salary of government schools’ staffs this fiscal year, private schools have decided not to follow suit. According to the Education Regulation, there is a provision to increase the salary every educational year, not the fiscal year. There is a clear provision in the ‘Organisational Schools Directory’ released by the government that salaries are increased only in the start of the educational year and facilities and services too are fixed by that time. “Salaries cannot be increased in the middle of the educational year,” says chairman of PABSON, Dr Babu Ram Pokharel. </div> <div> </div> <div> <strong>A New HR Services Enterprise </strong></div> <div> <img alt="BizSupport" src="/userfiles/images/bspl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 28px;" />A new HR service providing company named ‘Bizsupport’ has been opened with the purpose to serve the wider arena of business and economy by inspiring MBA students to pursue Human Resource Management as their career. Bizsupport is headed by a human resources management practitioner with 22 plus years experience as Head of Human Resources in various organizations like hotels, MNCs, banks etc. Bizsupport tries to deliver its services distinctively from others in terms of quality and efficiency in order to add value to business. It provides services like business process outsourcing, representation direct marketing, HR audit, recruitment executive search, training and development, competency mapping, event management, HR systems, organizational development and PMS (Performance Managanement Systems).</div> <div> </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' => 'Staffs of community colleges are now to be provided with Provident Funds (PF) and gratuity.', 'sortorder' => '1424', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '1562', 'article_category_id' => '156', 'title' => 'Mirroring The Boss In Just The Right Way', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Ray A. Smith</strong></div> <div> </div> <div> Eager to move up the corporate ladder? Take note of what the executive suite is wearing. <span style="font-size: 12px;">Conventional career wisdom holds that dressing like the boss helps advance one’s career. But sometimes the boss can be hard to emulate. Say, he’s a 6’3” male in a suit and tie and you’re a curvy 5’3” female who prefers dresses. Or maybe she loves brights and you’re more of an earth tones person. On the other hand, you don’t want your looks to be too similar— read Mini-Mi—either. The issue of taking style cues cuts across a range of industries, including ones where there is a leisure component – which can mean separate “boss” styles depending on what day of the week, or time of the day it is. </span></div> <div> </div> <div> Sarah Cruse “is not a buttoned-up kind of suit person, but there are times she needs to be,” said Marion Gellatly, founder of Powerful Presence, an image-consulting firm in Pebble Beach, Calif. Ms. Gellatly was referring to a long-standing client she has been helping dress a little more executive suite. A few months into a new job as a general manager of a hotel and golf club, Ms. Cruse worried that what she was wearing didn’t properly represent “a high-end corporation” and didn’t look managerial enough. She said she noticed the way one of her higher ups, a woman, and their joint boss, a man, dressed. </div> <div> </div> <div> “She was immaculate in her presentation, always put together,” said Ms. Cruse. “Our boss is an impeccable dresser, whether in a suit, casual jacket, or jeans and a sweater. As a representative of his operation, it was important I learned how to dress the part, while still carrying my own personality.” Ms. Gellatly and Ms. Cruse laid out a plan to shop for colorful and patterned dresses and skirts, but also, to nod to the polished look of her higher ups, neutral jackets she could wear over them, and the occasional suit. The goal was to conform, but in a way that suited her. “[Ms. Cruse] has a lively personality,” said Ms. Gellatly, a former president of the Association of Image Consultants International. “We can’t put her into a conservative suit and have that be authentic to who she is.” </div> <div> </div> <div> Lois Barth, a business and lifestyle coach, offers these tips: “It’s important to retain your own sensibility with clothing, to an extent, while still adjusting to the new boss, depending on who the “boss” is. In other words if it’s a CEO or someone who sets the vision of the company, that’s more of an issue than a middle manager, who is less about the vision and more about the day-to-day carrying out of the vision. You have more wiggle room in honoring what your clothing is with a middle manager.” If the CEO wears a suit, and you are wearing a dress shirt and pants or a dressy blouse and a skirt, “maybe there’s a middle ground of a sports jacket” or blazer, she said. “Adapting and adjusting are important, but not mimicking.” </div> <div> </div> <div> Ms. Barth says you can personalize with accessories. “Maybe there’s a cool scarf you can add to the outfit to keep it you.” If the boss is into bright colors or eclectic accessories and that’s not what you’re into, she said you can dip in rather than dive. “You can go with “alignment attire” where you’re capturing the essence of them, with an artsy tie or a pin that has some color, but not mimicking.” </div> <div> </div> <div> The most important thing is to be comfortable in the look. It shouldn’t feel forced. Find ways to adapt the boss’s style in a way that suits you. </div> <div> (blogs.wsj.com/atwork)</div> <div> </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' => 'Eager to move up the corporate ladder? Take note of what the executive suite is wearing.', 'sortorder' => '1423', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1561', 'article_category_id' => '155', 'title' => 'MBA: Teaches Management Of Every Sector', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong><img alt="Dr Binod Kumar Khatri, the Principal at Phoenix College of Management" src="/userfiles/images/Dr%20Binod%20Kumar%20Khatri.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 175px; height: 223px;" />Dr Binod Kumar Khatri</strong> is the Principal <span style="font-size: 12px;">at Phoenix College of Management. <strong>Ashok Poudel</strong> of The Corporate talked with him about MBA and EMBA education in Nepal. <strong>Excerpts:</strong> </span></div> <div> </div> <div> <strong>What is the current status of MBA colleges in Nepal? </strong></div> <div> Various MBA programmmes have been opened in Nepal with foreign university affiliations and some running under Nepali Universities. An MBA education gives managerial skills and the demand for management skills is on the rise in Nepal. The number of MBA colleges in Nepal is subsequently increasing. This should ideally bring competition in the quality of education as well as infrastructure and facilities. </div> <div> </div> <div> <strong>How interested are students towards this subject? </strong></div> <div> Students who want to make a career in banking and the financial sector make an MBA degree their first choice. However, MBA students are in demand in other sectors too. There is a strong job guarantee for MBA students. They can also become entrepreneurs. </div> <div> </div> <div> <strong>How different is the curriculum of a Nepali University compared to a foreign university? </strong></div> <div> There is no difference in the curriculum as such. The Nepali curriculum is of international standard too but foreign universities place more emphasis on practical education. An MBA makes a person a ‘generalist’ and every MBA college focuses on the practical section rather than the theoretical. There is a misconception that students get better quality education abroad. MBA students from Nepal are capable of competing anywhere in the world. </div> <div> </div> <div> <strong>What is the difference between the EMBA and the MBA? </strong></div> <div> Both are masters’ degrees in management. A graduate student in any subject can enroll in the EMBA or the MBA programme. EMBA is a course studied to be capable of leadership in management and the business sector. It helps to build a strong base in management and entrepreneurial skills. The course was basically introduced for business people to enhance their skills. The EMBA programme is now in demand in the corporate sector. The only difference between an MBA and an EMBA programme is that EMBA is targeted to working professionals whereas MBA is for regular students. </div> <div> </div> <div> <strong>Can a graduate in any subject pursue an MBA? </strong></div> <div> The MBA programme is targeted to graduates in any subject. Perhaps it will be comparatively easy for a management graduate. EMBA students are in demand in sectors such as engineering and business. </div> <div> </div> <div> <strong>How would you explain the importance of an MBA education? </strong></div> <div> There are many fields in the world for formal and occupational education such as medical science, engineering, law and education. Students who pursue them become advocates, teachers, and doctors. But a teacher needs to operate a school, an advocate a law firm and a doctor a hospital, and for that only occupational knowledge is not enough. An MBA degree imparts students with managerial skills to accomplish running these various places of work. </div> <div> </div> <div> <strong>What suggestions would you give to students willing to enroll in an MBA programme? </strong></div> <div> An MBA programme in Nepal is less expensive but competition across borders decides which programme is better. Students should choose a college not on the basis uniforms, distance, or the fee structure but on the quality of education available. Enroll in an MBA programme if you are willing to be a manager or administrator, and not just for obtaining a degree.</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Various MBA programmmes have been opened in Nepal with foreign university affiliations and some running under Nepali Universities.', 'sortorder' => '1422', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '1560', 'article_category_id' => '146', 'title' => 'Visual Edit Issue 25', 'sub_title' => '', 'summary' => null, 'content' => '', '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' => 'Visual Edit', 'sortorder' => '1421', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '1559', 'article_category_id' => '105', 'title' => 'CEO’s Facebook', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">After he lost the job of the CEO of a bank, somebody wrote on the ex-CEO’s face book wall: This must have been worse than divorce. </span></div> <div> The CEO posted his reply: “I still have my wife with me.” -ML</div> <div> </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' => 'After he lost the job of the CEO of a bank, somebody wrote on the ex-CEO’s face book wall:', 'sortorder' => '1420', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '1558', 'article_category_id' => '105', 'title' => 'Way To Heaven', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The commodity market in Nepal crashed, but the market analysts and exchange owners did not call it a crash though many people lost a lot of money. They called it a ‘correction’. A business journalist asked one of the commodity exchange CEOs in a press conference, “How can you say whether it is a correction or a crash?” She did not get a satisfactory answer. </span></div> <div> </div> <div> Here is a simple way to explain this: Suppose a bus had a crash and three passengers died on the spot. You can say:” The bus had a correction as the three men were on the way to heaven?” </div> <div> </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' => 'The commodity market in Nepal crashed, but the market analysts and exchange owners did not call it a crash though many people lost a lot of money.', 'sortorder' => '1419', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '1557', 'article_category_id' => '144', 'title' => 'Transparency In Political Finance', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">In a commendable move, Nepali Congress has recently promised that it is ready to reveal sources of funds it collects for the coming elections. The party has announced its commitment also to accept donation through cheque. </span></div> <div> </div> <div> The announcement may have provided relief to business community. It is a common practice around the world that political parties collect funds from donation to build and sustain the organisation, to train party cadres and fight elections. Equally important fact is that the sources of such funding undeniably influence the behaviour of the funded party if it comes to power. So this issue impacts directly on democratic rights. </div> <div> </div> <div> Principally, the major share of funding should be from voluntary contribution but that is not happening in Nepal. Almost all political parties tend to amass cash by force. Forceful donation drive by political parties has become common phenomenon and has terrorized the entire business community. </div> <div> </div> <div> The recent announcement of Nepali Congress has provided strong ground to business community to bring donation issue in public domain. Other political parties should be ready to do the same. As public political institutions, political parties should be proactive to disclose their information to public and arrange for regular briefings using various information demystification channels. </div> <div> </div> <div> On the other hand, all political parties should be ready for the public audit of their income and expenditure since transparency is considered the hallmark of democracy. Political parties should pledge to introduce a law to ban anonymous donations. </div> <div> </div> <div> Against this backdrop, it is high time to address the demand for public disclosure of political finances because: 1) it helps prevent financial abuse during election, and 2) it is necessary to promote healthy political competition. </div> <div> </div> <div> We need a body akin to what was set up in the U.S. under the Federal Election Campaign Act 1974. The US agency called the Federal Election Commission supervises all financial transactions by political bodies that have solicited or spent money to support or defeat federal candidates. The organisation verifies all reports presented, and discloses the same to the public and the media. Election Commission in Nepal should be empowered to do exactly the same. </div> <div> </div> <div> Transparency in donation also helps boost morale of country’s business community that has faced many hassles to adjust their account because they were forced to provide donation in such a way that they could not keep any record of such donation. Political parties should ensure that election is not an event to terrorize business community. </div> <div> </div> <div> Nepal needs to set up a mechanism that can make for accountability on the sources and utilisation of party funds. The present opportunity and its timing can be used to promise the much-needed change since the country is ready to go for new CA election.</div> <div> </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' => 'In a commendable move, Nepali Congress has recently promised that it is ready to reveal sources of funds it collects for the coming elections.', 'sortorder' => '1418', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '1556', 'article_category_id' => '145', 'title' => 'Private Sector Demands On PDA Draft', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong style="font-size: 12px;">--By Khadk Bahadur Bisht</strong></div> <div> </div> <div> Promoters of Upper Karnali, Arun III, Tamakoshi III and lower Arun have demanded for Project Development Agreements (PDA) with the government while Foreign banks’ hesitate to invest in hydropower in the absence of government commitment. Promoters have been demanding for security from the government due to high risks associated with this sector and drafting the PDA is closely related to this. </div> <div> </div> <div> It was initially known as ‘Project Agreement’ (PA). The term was later changed to Project Development Agreement (PDA). The PDA draft was initiated after immense pressure from the developers. However, the present draft has been criticised for not being bankable. </div> <div> </div> <div> Promoters of big projects had applied for PDA in 2010 when there was no Investment Board. After the board was established, the government decided to adopt the practice, whereby the projects 500MW or above came under the responsibility of the Investment Board. </div> <div> </div> <div> Similar contracts between the government and investors are prevalent in countries like Canada and Australia. PDA is meant to .. the risks and returns between the government and the investors as neither of them can bear all of the risks alone. </div> <div> </div> <div> The Investment Board started to draft the PDA according to investment polices of foreign banks. Meanwhile, the government decided to bring even projects with capacities below 500 MW under the purview of the PDA. Ministry of Energy thus drafted a separate PDA. The risks are almost the same even in 499 MW projects. </div> <div> </div> <div> Although the objectives are similar, there are differences between the draft presented by the board and that by the Ministry of Energy. Fundamental differences are seen between the ministry’s draft two years ago and its draft today. The previous thinking was that only foreign developers needed the PDA. </div> <div> </div> <div> Policy stability is a must for hydropower projects and this is one reason why the private sector has begun to pressure the government for PDA. They fear that if the government increases the rate of VAT, the project cost will go up enormously. </div> <div> </div> <div> On the other hand, if the bank sees low possibility of pay back, it may stop releasing even the sanctioned funds, this jeopardising the project. Investors have therefore demanded that a PDA should be made mandatory for projects with capacities less than 500MW. </div> <div> </div> <div> Recently, the Independent Power Producers’ Association, Nepal (IPPAN) had reviewed the PDA draft formulated for lower capacity hydropower projects. We have been raising demands that the PDA should be in line with international standards. That is, the notion of give-and-take should be articulated well in the document. </div> <div> </div> <div> Failure of the government to issue the permission on time is one of the main reasons for delay in project implementation. The government has to approve the Environmental Impact Assessment (EIA) on time. Similarly, it has the responsibility of facilitating promoters at various levels where they face hurdles such as at the local level created by forestry users and by taxes levied on sand, stone aggregates and inland, cargo transportation, among others. </div> <div> </div> <div> There has been doubt among private investors regarding inconsistency in law and the tax structure. The government should investors from frequent changes in policy and should pledge to bear all risks if generated by such abrupt change. </div> <div> </div> <div> Force majeure provision of another point of contention. Force majeure prevails when the situation is out of control of the developer such as in case of natural calamity. But in Nepal, government action is major such situation. </div> <div> </div> <div> Similarly, we have differences on various issues including lender rights and rights on water, among others. The draft is ambiguous on such issues and we want clarity for long term investment. </div> <div> (Bisht is Vice President at Independent Power Producers’ Association, Nepal (IPPAN))</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Promoters of Upper Karnali, Arun III, Tamakoshi III and lower Arun have demanded for Project Development Agreements (PDA)', 'sortorder' => '1417', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '1555', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Koirala to Meet Indian President, PM </strong></div> <div> <img alt="Nepali Congress (NC) president Sushil Koirala" src="/userfiles/images/Sushil%20Koirala.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 115px;" />Nepali Congress (NC) president Sushil Koirala is scheduled to meet Indian President Pranab Mukherjee, Prime Minister Dr Manmohan Singh, Congress (I) president and ruling United Progressive Alliance Chairperson Sonia Gandhi, among other leaders, during his trip to India this week. Likewise, he will visit Uttar Pradesh and Bihar where he will meet the Chief Minister of these Indian states. Koirala is formally visiting India upon the invitation of Indian PM for the first time after being elected as the president of the NC. General Secretary duo- Prakashman Singh and Krishna Prashad Sitaula- and Koirala’s personal aide Laxman Dhakal are accompanying him. </div> <div> </div> <div> <strong>‘Regmi should resign from CJ post’ </strong></div> <div> Central Working Committee Member Dr Sekhar Koirala has demanded that the Chairman of the Interim Election Council, Khil Raj Regmi, resign from the post of Chief Justice (CJ). Addressing a programme in Kathmandu last Monday, Dr Koirala claimed that the agitating parties would come to dialogue if Chairman Regmi quits the CJ post. Dr Koirala holds the view that the election will not be possible until the four major political forces, the agitating parties, the government and the international forces come to a common point. </div> <div> </div> <div> <strong>NC President Sees No Alternative to Elections </strong></div> <div> Nepali Congress president Sushil Koirala said that the election was an unconditional alternative for resolving the ongoing political crisis. Speaking at a programme in Nepalgunj on Wednesday, he urged all parties to participate in the upcoming elections to the Constituent Assembly. Similarly, he also directed his party ranks and file to be mobilised in the preparation of the November 19 election. </div> <div> </div> <div> <strong>‘Slim chances of CPN-Maoist participating in the polls’ </strong></div> <div> UCPN (Maoist) leader Narayankaji Shrestha said the chances of the CPN-Maoist party participating in the Constituent Assembly poll process are very slim. Speaking at a programme in the Capital on Wednesday, Shrestha claimed that the election for November 19 would not be cancelled or postponed even if the CPN-Maoist party did not come aboard for election. “Though there is a very low chance of the agitating parties joining the election process, we wouldn’t stop trying to bring them to it,” he said.</div> <div> </div> <div> <strong>Dahal Calls President </strong></div> <div> <img alt="UCPN (Maoist) Chairperson Pushpa Kamal Dahal " src="/userfiles/images/Pushpa.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 111px;" />President Dr Ram Baran Yadav has urged the UCPN (Maoist) Chairperson Pushpa Kamal Dahal to facilitate on making the upcoming election successful by taking all parties into confidence. President Dr Yadav made such request at a meeting at his own official residence Shital Niwas with Dahal on Thursday. Personal Aide of Dahal, Shiva Khakurel, informed that the President expressed his concern about the progress on bringing the agitating parties to the election process. In response to the President’s concern, Dahal apprised him that formal and informal talks with the dissident parties were underway. </div> <div> </div> <div> <strong>Information Centers to Be Established </strong></div> <div> In a bid to provide information to the people about security during the election, Armed Police Force (APF) is establishing its Information Centers. According to the IGP of APF, Kosh Raj Wanta, information centers will be established at all five regional units of the APF to provide information about the election and security to the people in fast, easy and simple way.</div> <div> </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' => 'Nepali Congress (NC) president Sushil Koirala is scheduled to meet Indian President Pranab Mukherjee', 'sortorder' => '1416', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '1554', 'article_category_id' => '142', 'title' => 'Poll Update (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>EC Makes Poll Schedule Public </strong></div> <div> The Election Commission made the time-table of the Constituent Assembly election scheduled for November 19 public on Thursday. According to the time-table released by the EC, political parties will have to file the nomination of candidates for Proportional Representation System on September 23, and the EC will publish the name list of parties on September 24. Likewise, the filing of nomination of candidacy for the First-Past-the-Post (FPTP) system has been set for September 26. The final closed list of candidates of parties under the proportional system will be published on November 9 and FPTP on September 30. </div> <div> </div> <div> <strong>Uprety Appointed as CDC Member </strong></div> <div> The government appointed Prof Chudaraj Uprety as a member of the Constituency Delineation Committee on Monday. The meeting of the Council of Ministers appointed Prof Uprety in the committee as a member after Dr Madhunidhi Tiwari tendered his resignation from the post.</div> <div> </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' => 'The Election Commission made the time-table of the Constituent Assembly election scheduled for November 19 public on Thursday.', 'sortorder' => '1415', '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' => '1553', 'article_category_id' => '143', 'title' => 'Repeating Electoral Violence?', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Sagar Ghimire</span></strong></div> <div> </div> <div> As November 19, the slated date for the Constituent Assembly election draws closer, poll fever gradually grips the government, the Election Commission (EC) as well as the political parties. The EC is in full swing to make the election happen on the scheduled date. It enforced the Code of Conduct for the election and made the election time-table public too. Likewise, the government also held a meeting recently with security organs for the election to chart out a joint security strategy for the event. </div> <div> </div> <div> However, political parties have failed to do their bit. Instead of forging a conducive and congenial environment to conduct the elections peacefully, the leaders of the parties are now fomenting violence through their speeches. </div> <div> </div> <div> The unfortunate announcement from the CPN-Maoist to disrupt the election wasn’t as much a surprise as was the demand of the Nepali Congress leader and cadre to form their own ‘security squad’. </div> <div> </div> <div> Though the NC president turned down the demand raised during the party’s Training of Trainers, the demand is indicative of the deeply embedded militant mindsets of the leaders and the cadres of all big parties. </div> <div> </div> <div> The recent remark by UCPN (Maoist) Chairperson Pushpa Kamal Dahal to mobilise 1000 Young Communist League cadres in each booth in response to the CPN-Maoist plan to deploy 10 cadres is tantamount to summon violent clashes in the upcoming elections. </div> <div> </div> <div> Violence has become a part and parcel of elections in Nepal. Earlier elections in Nepal also had witnessed massive use of violence, coercion and force by the parties. </div> <div> </div> <div> Political parties forming para-military forces and mobilising young goons during election campaigns and at poll booths is an enough evidence to indicate the proclivity of our leaders towards violence. </div> <div> </div> <div> Flexing muscles, particularly during elections, to influence voters, frighten opponents and intimidate election officers does not only undermine the credibility of the election but also violates citizens’ fundamental right to vote in a free and fair manner. When leaders or parties lose their confidence to woo the people through their policy and programme, they resort to wielding violence to bring election results to their favour. </div> <div> </div> <div> The CPN-Maoist party’s threat to disrupt polls by using force; UCPN (Maoist) Chairperson Dahal’s warning to counter the CPN-Maoist attempt; NC leaders and cadres pitting the idea of forming their own ‘security squad’; and rising aggression within the CPN (UML)’s sister-wing the Youth Association Nepal from notorious dons and hoodlums paint us a familiar picture of the forthcoming election -- one marred with violence. </div> <div> </div> <div> Fraught with violence, the CA election is also likely to be a battle ground for party leaders to exploit youths for their vested political interests. </div> <div> </div> <div> Use of violence during elections gets exposed in the international front by international observers and media which ultimately becomes a matter of shame for the country. </div> <div> </div> <div> The confrontations and clashes during the election are already imminent with parties, leaders and cadres that mull the formation of youth squads to use them in bringing the election results in their favour. The Election Commission has already executed the Code of Conduct and the government has prepared mechanisms to contain violence. Yet, these fall short in front of the unruly and unholy young goons, when they are shielded and patronised by their leaders. </div> <div> </div> <div> If elections are to be held in a democratic, fair and peaceful manner, political leaders and their parties should make a sincere and honest commitment to shun violence. The government should make sure that no element that inflicts violence is spared. Political parties should value peoples’ power over violence and try not to repeat our history of electoral violence.</div> <div> </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' => 'Business Ethics: Challenges in Implementation By Sagar Ghimire Though over 100 business companies have made a commitment towards the Business Code of Conduct (CoC) which was introduced by the National Business Initiative (NBI) last week in the Capital, implementation of such a self-abiding code will not be an easy task. The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Birjung Chamber of Commerce and Industry (BCCI), Hotel Association Nepal (HAN), Nepal Gas Dealers’ Association (NGDA), and Nepal Association of Foreign Employment Agencies (NAFEA) are some of the leading business associations that have endorsed the CoC. A recently conducted survey of Kathmandu-based companies entitled ‘Ethical Business Practice in Nepal’ by NBI has found only 7 per cent of the companies following business ethics, while 41 per cent of the sample were found weak in this. Likewise, 52 per cent of the sample was found to have attempted to implement the CoC and partially following it. Jyoti Baniya, general secretary of Forum for Protection of Consumer Rights, expressed doubt regarding the sincere implementation of the CoC by the business community. “Some tangible differences in behaviour should have been discerned these past few days,” Baniya told The Corporate. “They (business houses) did not even think it necessary to place a framed copy of the CoC on their walls.” He, however, welcomes the initiative of the business community to come up with the CoC. This finding of the survey indicates that the implementation of CoC is fraught with challenges. There are doubts as to whether companies will duly follow the provisions stated in the CoC at a time when there are allegations upon some of them that they are flouting the business laws of the country.Some member companies of the associations that endorsed the CoC have come under the government’s scanner for their unscrupulous deeds. Gas dealers, transport entrepreneurs, gold merchants, are alleged of carteling, syndicates, adulteration, tax evasion and other malpractices. However, Saroj Prasad Pandey, coordinator of the CoC campaign at the NBI, claims that he was very hopeful for its implementation. “The endorsement by over 100 business associations and an overwhelming support from the government, political parties, labour unions, the media and people within a week showed that the CoC can be implemented,” he said. Pandey informed that they will soon form a joint committee comprising representatives from various business sectors to supervise and evaluate the implementation of the CoC. Although bringing the CoC is a positive step towards winning the trust of consumers, consumer right advocates, however, say that its implementation will fully depend on the will-power of business firms and the support from political parties and the government. When leaders or parties lose their confidence to woo people through their policies and programmes, they resort to wielding violence to bring the election results to their favour.', 'sortorder' => '1414', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '1552', 'article_category_id' => '140', 'title' => 'Late Kafle’s Contributions For Human Rights Lauded', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">CPN (Maoist) Vice- Chairperson Bidya Devi Bhandari praised the role of late human rights leader Prakash Kafle in human rights, social justice and democracy. </span></div> <div> </div> <div> Speaking at a programme to mark the 21st Memorial Day of the late leader, Bhandari, also a former Defense Minister, admitted that the culprit for Niranjan Basnet’s and Maina Sunuwar’s murder could not be presented in the apex court. </div> <div> During the programme, conflict victim Sabitri Shrestha was felicitated with the Prakash Human Rights Award. The prize carries a purse of NRs 50 thousand and letter of appreciation.</div> <div> </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' => 'CPN (Maoist) Vice- Chairperson Bidya Devi Bhandari praised the role of late human rights leader Prakash Kafle in human rights, social justice and democracy.', 'sortorder' => '1413', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '1551', 'article_category_id' => '140', 'title' => 'UDMF Seeks A Month-long Extension Of Voter Registration', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The United Democratic Madhesi Front has demanded that the voter registration process be extended for one more month. A meeting of the UDMF, a member of the High Level Political Committee, held in the Capital on Wednesday has sought 30 days’ extension on the voter registration process, which had ended in mid-July. </span></div> <div> </div> <div> The meeting, however, has concluded that the election of the Constituent Assembly should be held on the scheduled date of November 19. Raj Kishor Yadav, Chairperson of Madhesi Janadhikar Forum-R, informed that the meeting has demanded the registration drive to be re-opened for a month in order to give a chance to those who have not registered themselves in the voter rolls. “Since this is the election of the Constituent Assembly, there should be maximum participation but many voters have not been registered to the list due to various reasons including the inability to present citizen certificates. They should not be disenfranchised,” Yadav said. He claimed that extending the deadline for the voter registration process would not hamper the schedule of the election much.</div> <div> </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' => 'The United Democratic Madhesi Front has demanded that the voter registration process be extended for one more month.', 'sortorder' => '1412', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '1550', 'article_category_id' => '140', 'title' => 'CPN-Maoist ‘Positive’ Towards Government’s Invitation', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> The CPN-Maoist party has said it responded positively to an invitation letter from the government to sit for a dialogue with agitating parties. “We have been positive towards the government’s invitation for table talks that has not set any condition,” said CPN-Maoist spokesperson Pampha Bhusal. “We will decide whether we will sit for the talks on Wednesday, August 7 or not after discussing the matter with the agitating parties.” </div> <div> </div> <div> “The invitation letter states that the government firmly believes the country’s problems should be resolved through dialogue, discussion and consultation,” said Information and Communication Minister Madhav Paudel. The government has sent the invitation to dissident parties twice so far. </div> <div> </div> <div> Likewise, the High Level Political Committee (HLPC) formally invited the 33-party alliance twice. Not a single table talk, however, has been held thus far. The CPN-Maoist-led 33-party alliance has been demanding the cancellation of the 25-point presidential decree of March 14, the 11-point agreement, the scheduled election for November 19, Round Table Conferences, an all-party-political government, and dissolving the Khilraj Regmi led dispensation as well as the HLPC, among other demands. The party has even threatened to disrupt the election if it is held and its demands are not met.</div> <div> </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' => 'The CPN-Maoist party has said it responded positively to an invitation letter from the government to sit for a dialogue with agitating parties.', 'sortorder' => '1411', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1564', 'article_category_id' => '153', 'title' => 'Convenience Stores Target Expansion', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <p> <strong style="font-size: 12px;">--By TC Correspondent</strong></p> <div> <div> Given the ever escalating population of the Kathmandu Valley, the need for convenience stores which can address the basic needs of customers, is being felt more than before. A convenience store is a small store, mostly located in densely populated areas, that stocks everyday items like groceries, toiletries, soft drinks, tobacco and liquor products along with other customised services. </div> <div> </div> <div> “Convenience stores are a successful business in western countries,” a manager with the Chaudhary Group promoted CG Mart remarked, adding, “We are confident that the idea is bound to pick up in Nepal too.” The people of Nepal are becoming busier and problems of space in core areas are rising, increasing the need for such stores. </div> <div> </div> <div> As the name suggests, the stores are mainly operated for the convenience of busy people. While some stores operate till late hours for the benefit of people who work in the evenings, they are also meant to facilitate busy and single people for their shopping needs. Some convenience stores also feature spaces where people can get their tea/coffee and ready-to-eat items for snacking needs. </div> <div> </div> <div> <strong>The Shift </strong></div> <div> The attitude and expectation of people towards shopping has changed completely. There used to be a time when people hopped from one shop to another looking to buy different commodities. However, the trend of convenience stores offering a wide range of items in a single place has caught on. “Not too long ago, Nepalis used to hesitate to enter convenience stores, but now the trend has witnessed a radical shift with a large number of convenience stores opening, targeting the middle class and offering quality products at reasonable prices,” said an observer. </div> <div> </div> <div> ‘Single shutter’ cold stores have turned to convenience stores in recent times and sell thousands of products from hundreds of local and international suppliers. This has resulted in direct employment of scores of local people in their own neighbourhood. </div> <div> </div> <div> <strong><img alt="CGMART" src="/userfiles/images/focus1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 225px;" />Expansion Spree </strong></div> <div> The movement in this sector has been rather evident. KK Store, a Malaysian chain store brand now operates four stores in Kathmandu. Similarly, CG Mart, Big Mart and Stuti Mero Mart among others too have opened multiple stores and boast of expansion plans in the Kathmandu Valley as well as other parts of the country. </div> <div> </div> <div> CG Mart also plans to develop convenience stores in a franchise style. “Those who are currently operating a mini-mart or a small supermarket can brand it in our name. However, they need to follow the rules and norms set by us,” said an official. CG is planning to open 10-12 convenience stores in Kathmandu this year and intends to increase the number to more than 100 in another two years. Apart from Kathmandu, the company has aimed to open stores in Pokhara, Butwal and Biratnagar. </div> <div> </div> <div> Stuti Mero Mart, a local chain of convenience stores, has expanded its presence in Kathmandu by opening outlets in Ghattekulo, Katyayani Chowk and Sinamangal. One of the major aims of Stuti Mero Mart is to expand its presence in all 35 wards of Kathmandu Metropolitan City. “We will be opening 17 more outlets in Kathmandu district within one-and-a-half years,” a store manager said. Upon completion of the expansion process in Kathmandu, Stuti intends to venture into Lalitpur and Bhaktapur districts before penetrating markets located outside the Kathmandu Valley. </div> <div> </div> <div> Mega Mart, the operator of Big Mart stores, has firmed plans to expand its retail network by opening 11 new stores in Nepal in 2013 including stores at Sanepa, Old Baneshwor, Sinamangal, Kalanki, New Bus Park, Pepsicola and Dholahiti in Patan. A manager at Big Mart said the store expansion programme is part of the company’s strategy to expand into neighbourhood regions. “Our aim is to reach out to as many places as possible for the convenience of our customers,” he said. The company also plans to expand outside the Kathmandu Valley by opening stores in Pokhara and Biratnagar. </div> <div> </div> <div> <strong><img alt="BIGMART" src="/userfiles/images/focus2.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 225px;" />Major Players </strong></div> <div> CG Mart stores offer everyday items like groceries, toiletries, beverages, tobacco and liquor along with various customised services. Stores located in densely populated areas have been designed to fulfill the daily requirements of people residing or working nearby. Largely famous in Western countries, the company believes that the concept will be equally popular in Nepal. The company has set up its own supply chain so that they need not depend on other agencies for stock. It believes that the supply chain will also help to price the goods nominally. CG Mart opens from 7 am to 11 pm to cater to the needs of people with busy schedules. </div> <div> </div> <div> ANS Co has ventured into retail business by opening a chain of convenience stores named Stuti Mero Mart in different parts of Kathmandu. An official of the company said the main objective of the mart is to provide an impeccable shopping experience at the local level. </div> <div> </div> <div> Stuti Mero Mart outlets open from 8 am to 8 pm and boast of a collection of around 7,500 items, both domestic and imported. These items range from spices, meat and confectionaries to cosmetic items, toiletries, liquor and kitchen ware. All its outlets are spread over an area of 2,000 to 3,000 sq ft with each store hiring 8-10 local employees. All outlets of Stuti Mero Mart are also providing free home delivery service for the convenience of its customers. Stuti Mero Mart is also planning to launch an online store soon so that customers can place orders from home. </div> <div> </div> <div> Big Mart, on the other hand, maintains four stores at City Center in Kamalpokhari, Lazimpat, Shantinagar and Jhamsikhel. Big Mart plans to take its store tally to 15 by the year-end. </div> <div> </div> <div> <strong>Store Locations </strong></div> <div> Possibility and feasibility are the prime factors in determining the locations of convenience stores, said a store manager of Big Mart. CG Mart too said it chooses the location as per its plan to penetrate high-potential areas for retail business. “We plan to open stores in highly populated areas to meet daily requirements of people residing there or working nearby,” it said. </div> <div> </div> <div> CG Mart plans to open around 300 to 400 outlets across the country within the next three years. Outside the valley, CG Mart will expand in areas having high density population like Pokhara, Butwal and Biratnagar. </div> <div> </div> <div> <strong>Target Market </strong></div> <div> “We are mainly targeting new and affluent suburbs of Kathmandu,” said a manager at Mega Mart. Big Mart stores cater to the needs of people from all income groups. Besides the usual products, the store also features chicken, goat and buffalo meat. </div> <div> </div> <div> <strong>The ‘Chain’ Effect </strong></div> <div> A chain of convenience stores usually have uniform products, mostly consisting of consumables. Even though they do not command large volumes as stand alone units, the numbers start becoming significant when one combines the volume going out to all stores. This factor provides the companies leverage against suppliers, allowing them to negotiate for larger margins. Those benefits could then be passed on to the consumers. The chain stores in Kathmandu are already operating for 16 hours a day and in the future, there is scope for 24-hour stores, said industry analysts. Chain stores in Nepal could also emulate stores abroad and provide tea/ coffee, hot food and other related items that would make these stores even more convenient for consumers, they said.</div> </div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Popular convenience store chains in Kathmandu are looking to rapidly expand their business by opening new outlets.', 'sortorder' => '1425', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '1563', 'article_category_id' => '154', 'title' => 'Learning Curve News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Committee Formed to Celebrate 8th National Library Day </strong></div> <div> A main organisation committee has been formed in the chairmanship of Narayan Gopal Malego, secretary of the Ministry of Education, to celebrate the 8th National Library Day on Bhadra 15 (August 31st). Bhim Dhwoj Shrestha, chief at the Tribhuwan University’s Central Department of Library and Information Science, has been appointed as Vice-chairman of the committee. The National Library Day has been celebrated annually for the last 7 years to increase awareness about libraries. The committee has decided to celebrate this year’s library day as a weeklong celebration. </div> <div> </div> <div> <strong>BBA Programmes to have 4th Year </strong></div> <div> The Ministry of Education has directed colleges with Indian university affiliation offering BBA (Bachelor in Business Administration) programmes to extend the programme to 4 years. As the BBA programmes offered in Tribhuwan University (TU) and Kathmandu University (KU) are of 4 years, the ministry has directed colleges with Indian university affiliations to change their programmes to 4-year-programmes too. This step has been taken to maintain the equivalence among students from Nepali universities and Indian universities. </div> <div> </div> <div> <strong>PF for Community Schools’ Staff </strong></div> <div> Staffs of community colleges are now to be provided with Provident Funds (PF) and gratuity. The Ministry of Education has made ‘service laws’ according to which staffs who have served for 5-10 years will get half a month’s salary as gratuity annually. Those who have served for 10-15 years will get a month’s salary as gratuity and persons who have served for more than 15 years will get a month and a half’s worth of salary as gratuity annually. The law has been made by the Ministry of Education, guaranteeing services and facilities for community school staffs in accordance with the order of the Supreme Court. </div> <div> </div> <div> <strong>Private Schools not to Increase Staff Salary </strong></div> <div> Though the government increased the salary of government schools’ staffs this fiscal year, private schools have decided not to follow suit. According to the Education Regulation, there is a provision to increase the salary every educational year, not the fiscal year. There is a clear provision in the ‘Organisational Schools Directory’ released by the government that salaries are increased only in the start of the educational year and facilities and services too are fixed by that time. “Salaries cannot be increased in the middle of the educational year,” says chairman of PABSON, Dr Babu Ram Pokharel. </div> <div> </div> <div> <strong>A New HR Services Enterprise </strong></div> <div> <img alt="BizSupport" src="/userfiles/images/bspl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 28px;" />A new HR service providing company named ‘Bizsupport’ has been opened with the purpose to serve the wider arena of business and economy by inspiring MBA students to pursue Human Resource Management as their career. Bizsupport is headed by a human resources management practitioner with 22 plus years experience as Head of Human Resources in various organizations like hotels, MNCs, banks etc. Bizsupport tries to deliver its services distinctively from others in terms of quality and efficiency in order to add value to business. It provides services like business process outsourcing, representation direct marketing, HR audit, recruitment executive search, training and development, competency mapping, event management, HR systems, organizational development and PMS (Performance Managanement Systems).</div> <div> </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' => 'Staffs of community colleges are now to be provided with Provident Funds (PF) and gratuity.', 'sortorder' => '1424', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '1562', 'article_category_id' => '156', 'title' => 'Mirroring The Boss In Just The Right Way', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Ray A. Smith</strong></div> <div> </div> <div> Eager to move up the corporate ladder? Take note of what the executive suite is wearing. <span style="font-size: 12px;">Conventional career wisdom holds that dressing like the boss helps advance one’s career. But sometimes the boss can be hard to emulate. Say, he’s a 6’3” male in a suit and tie and you’re a curvy 5’3” female who prefers dresses. Or maybe she loves brights and you’re more of an earth tones person. On the other hand, you don’t want your looks to be too similar— read Mini-Mi—either. The issue of taking style cues cuts across a range of industries, including ones where there is a leisure component – which can mean separate “boss” styles depending on what day of the week, or time of the day it is. </span></div> <div> </div> <div> Sarah Cruse “is not a buttoned-up kind of suit person, but there are times she needs to be,” said Marion Gellatly, founder of Powerful Presence, an image-consulting firm in Pebble Beach, Calif. Ms. Gellatly was referring to a long-standing client she has been helping dress a little more executive suite. A few months into a new job as a general manager of a hotel and golf club, Ms. Cruse worried that what she was wearing didn’t properly represent “a high-end corporation” and didn’t look managerial enough. She said she noticed the way one of her higher ups, a woman, and their joint boss, a man, dressed. </div> <div> </div> <div> “She was immaculate in her presentation, always put together,” said Ms. Cruse. “Our boss is an impeccable dresser, whether in a suit, casual jacket, or jeans and a sweater. As a representative of his operation, it was important I learned how to dress the part, while still carrying my own personality.” Ms. Gellatly and Ms. Cruse laid out a plan to shop for colorful and patterned dresses and skirts, but also, to nod to the polished look of her higher ups, neutral jackets she could wear over them, and the occasional suit. The goal was to conform, but in a way that suited her. “[Ms. Cruse] has a lively personality,” said Ms. Gellatly, a former president of the Association of Image Consultants International. “We can’t put her into a conservative suit and have that be authentic to who she is.” </div> <div> </div> <div> Lois Barth, a business and lifestyle coach, offers these tips: “It’s important to retain your own sensibility with clothing, to an extent, while still adjusting to the new boss, depending on who the “boss” is. In other words if it’s a CEO or someone who sets the vision of the company, that’s more of an issue than a middle manager, who is less about the vision and more about the day-to-day carrying out of the vision. You have more wiggle room in honoring what your clothing is with a middle manager.” If the CEO wears a suit, and you are wearing a dress shirt and pants or a dressy blouse and a skirt, “maybe there’s a middle ground of a sports jacket” or blazer, she said. “Adapting and adjusting are important, but not mimicking.” </div> <div> </div> <div> Ms. Barth says you can personalize with accessories. “Maybe there’s a cool scarf you can add to the outfit to keep it you.” If the boss is into bright colors or eclectic accessories and that’s not what you’re into, she said you can dip in rather than dive. “You can go with “alignment attire” where you’re capturing the essence of them, with an artsy tie or a pin that has some color, but not mimicking.” </div> <div> </div> <div> The most important thing is to be comfortable in the look. It shouldn’t feel forced. Find ways to adapt the boss’s style in a way that suits you. </div> <div> (blogs.wsj.com/atwork)</div> <div> </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' => 'Eager to move up the corporate ladder? Take note of what the executive suite is wearing.', 'sortorder' => '1423', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1561', 'article_category_id' => '155', 'title' => 'MBA: Teaches Management Of Every Sector', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong><img alt="Dr Binod Kumar Khatri, the Principal at Phoenix College of Management" src="/userfiles/images/Dr%20Binod%20Kumar%20Khatri.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 175px; height: 223px;" />Dr Binod Kumar Khatri</strong> is the Principal <span style="font-size: 12px;">at Phoenix College of Management. <strong>Ashok Poudel</strong> of The Corporate talked with him about MBA and EMBA education in Nepal. <strong>Excerpts:</strong> </span></div> <div> </div> <div> <strong>What is the current status of MBA colleges in Nepal? </strong></div> <div> Various MBA programmmes have been opened in Nepal with foreign university affiliations and some running under Nepali Universities. An MBA education gives managerial skills and the demand for management skills is on the rise in Nepal. The number of MBA colleges in Nepal is subsequently increasing. This should ideally bring competition in the quality of education as well as infrastructure and facilities. </div> <div> </div> <div> <strong>How interested are students towards this subject? </strong></div> <div> Students who want to make a career in banking and the financial sector make an MBA degree their first choice. However, MBA students are in demand in other sectors too. There is a strong job guarantee for MBA students. They can also become entrepreneurs. </div> <div> </div> <div> <strong>How different is the curriculum of a Nepali University compared to a foreign university? </strong></div> <div> There is no difference in the curriculum as such. The Nepali curriculum is of international standard too but foreign universities place more emphasis on practical education. An MBA makes a person a ‘generalist’ and every MBA college focuses on the practical section rather than the theoretical. There is a misconception that students get better quality education abroad. MBA students from Nepal are capable of competing anywhere in the world. </div> <div> </div> <div> <strong>What is the difference between the EMBA and the MBA? </strong></div> <div> Both are masters’ degrees in management. A graduate student in any subject can enroll in the EMBA or the MBA programme. EMBA is a course studied to be capable of leadership in management and the business sector. It helps to build a strong base in management and entrepreneurial skills. The course was basically introduced for business people to enhance their skills. The EMBA programme is now in demand in the corporate sector. The only difference between an MBA and an EMBA programme is that EMBA is targeted to working professionals whereas MBA is for regular students. </div> <div> </div> <div> <strong>Can a graduate in any subject pursue an MBA? </strong></div> <div> The MBA programme is targeted to graduates in any subject. Perhaps it will be comparatively easy for a management graduate. EMBA students are in demand in sectors such as engineering and business. </div> <div> </div> <div> <strong>How would you explain the importance of an MBA education? </strong></div> <div> There are many fields in the world for formal and occupational education such as medical science, engineering, law and education. Students who pursue them become advocates, teachers, and doctors. But a teacher needs to operate a school, an advocate a law firm and a doctor a hospital, and for that only occupational knowledge is not enough. An MBA degree imparts students with managerial skills to accomplish running these various places of work. </div> <div> </div> <div> <strong>What suggestions would you give to students willing to enroll in an MBA programme? </strong></div> <div> An MBA programme in Nepal is less expensive but competition across borders decides which programme is better. Students should choose a college not on the basis uniforms, distance, or the fee structure but on the quality of education available. Enroll in an MBA programme if you are willing to be a manager or administrator, and not just for obtaining a degree.</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Various MBA programmmes have been opened in Nepal with foreign university affiliations and some running under Nepali Universities.', 'sortorder' => '1422', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '1560', 'article_category_id' => '146', 'title' => 'Visual Edit Issue 25', 'sub_title' => '', 'summary' => null, 'content' => '', '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' => 'Visual Edit', 'sortorder' => '1421', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '1559', 'article_category_id' => '105', 'title' => 'CEO’s Facebook', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">After he lost the job of the CEO of a bank, somebody wrote on the ex-CEO’s face book wall: This must have been worse than divorce. </span></div> <div> The CEO posted his reply: “I still have my wife with me.” -ML</div> <div> </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' => 'After he lost the job of the CEO of a bank, somebody wrote on the ex-CEO’s face book wall:', 'sortorder' => '1420', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '1558', 'article_category_id' => '105', 'title' => 'Way To Heaven', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The commodity market in Nepal crashed, but the market analysts and exchange owners did not call it a crash though many people lost a lot of money. They called it a ‘correction’. A business journalist asked one of the commodity exchange CEOs in a press conference, “How can you say whether it is a correction or a crash?” She did not get a satisfactory answer. </span></div> <div> </div> <div> Here is a simple way to explain this: Suppose a bus had a crash and three passengers died on the spot. You can say:” The bus had a correction as the three men were on the way to heaven?” </div> <div> </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' => 'The commodity market in Nepal crashed, but the market analysts and exchange owners did not call it a crash though many people lost a lot of money.', 'sortorder' => '1419', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '1557', 'article_category_id' => '144', 'title' => 'Transparency In Political Finance', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">In a commendable move, Nepali Congress has recently promised that it is ready to reveal sources of funds it collects for the coming elections. The party has announced its commitment also to accept donation through cheque. </span></div> <div> </div> <div> The announcement may have provided relief to business community. It is a common practice around the world that political parties collect funds from donation to build and sustain the organisation, to train party cadres and fight elections. Equally important fact is that the sources of such funding undeniably influence the behaviour of the funded party if it comes to power. So this issue impacts directly on democratic rights. </div> <div> </div> <div> Principally, the major share of funding should be from voluntary contribution but that is not happening in Nepal. Almost all political parties tend to amass cash by force. Forceful donation drive by political parties has become common phenomenon and has terrorized the entire business community. </div> <div> </div> <div> The recent announcement of Nepali Congress has provided strong ground to business community to bring donation issue in public domain. Other political parties should be ready to do the same. As public political institutions, political parties should be proactive to disclose their information to public and arrange for regular briefings using various information demystification channels. </div> <div> </div> <div> On the other hand, all political parties should be ready for the public audit of their income and expenditure since transparency is considered the hallmark of democracy. Political parties should pledge to introduce a law to ban anonymous donations. </div> <div> </div> <div> Against this backdrop, it is high time to address the demand for public disclosure of political finances because: 1) it helps prevent financial abuse during election, and 2) it is necessary to promote healthy political competition. </div> <div> </div> <div> We need a body akin to what was set up in the U.S. under the Federal Election Campaign Act 1974. The US agency called the Federal Election Commission supervises all financial transactions by political bodies that have solicited or spent money to support or defeat federal candidates. The organisation verifies all reports presented, and discloses the same to the public and the media. Election Commission in Nepal should be empowered to do exactly the same. </div> <div> </div> <div> Transparency in donation also helps boost morale of country’s business community that has faced many hassles to adjust their account because they were forced to provide donation in such a way that they could not keep any record of such donation. Political parties should ensure that election is not an event to terrorize business community. </div> <div> </div> <div> Nepal needs to set up a mechanism that can make for accountability on the sources and utilisation of party funds. The present opportunity and its timing can be used to promise the much-needed change since the country is ready to go for new CA election.</div> <div> </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' => 'In a commendable move, Nepali Congress has recently promised that it is ready to reveal sources of funds it collects for the coming elections.', 'sortorder' => '1418', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '1556', 'article_category_id' => '145', 'title' => 'Private Sector Demands On PDA Draft', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong style="font-size: 12px;">--By Khadk Bahadur Bisht</strong></div> <div> </div> <div> Promoters of Upper Karnali, Arun III, Tamakoshi III and lower Arun have demanded for Project Development Agreements (PDA) with the government while Foreign banks’ hesitate to invest in hydropower in the absence of government commitment. Promoters have been demanding for security from the government due to high risks associated with this sector and drafting the PDA is closely related to this. </div> <div> </div> <div> It was initially known as ‘Project Agreement’ (PA). The term was later changed to Project Development Agreement (PDA). The PDA draft was initiated after immense pressure from the developers. However, the present draft has been criticised for not being bankable. </div> <div> </div> <div> Promoters of big projects had applied for PDA in 2010 when there was no Investment Board. After the board was established, the government decided to adopt the practice, whereby the projects 500MW or above came under the responsibility of the Investment Board. </div> <div> </div> <div> Similar contracts between the government and investors are prevalent in countries like Canada and Australia. PDA is meant to .. the risks and returns between the government and the investors as neither of them can bear all of the risks alone. </div> <div> </div> <div> The Investment Board started to draft the PDA according to investment polices of foreign banks. Meanwhile, the government decided to bring even projects with capacities below 500 MW under the purview of the PDA. Ministry of Energy thus drafted a separate PDA. The risks are almost the same even in 499 MW projects. </div> <div> </div> <div> Although the objectives are similar, there are differences between the draft presented by the board and that by the Ministry of Energy. Fundamental differences are seen between the ministry’s draft two years ago and its draft today. The previous thinking was that only foreign developers needed the PDA. </div> <div> </div> <div> Policy stability is a must for hydropower projects and this is one reason why the private sector has begun to pressure the government for PDA. They fear that if the government increases the rate of VAT, the project cost will go up enormously. </div> <div> </div> <div> On the other hand, if the bank sees low possibility of pay back, it may stop releasing even the sanctioned funds, this jeopardising the project. Investors have therefore demanded that a PDA should be made mandatory for projects with capacities less than 500MW. </div> <div> </div> <div> Recently, the Independent Power Producers’ Association, Nepal (IPPAN) had reviewed the PDA draft formulated for lower capacity hydropower projects. We have been raising demands that the PDA should be in line with international standards. That is, the notion of give-and-take should be articulated well in the document. </div> <div> </div> <div> Failure of the government to issue the permission on time is one of the main reasons for delay in project implementation. The government has to approve the Environmental Impact Assessment (EIA) on time. Similarly, it has the responsibility of facilitating promoters at various levels where they face hurdles such as at the local level created by forestry users and by taxes levied on sand, stone aggregates and inland, cargo transportation, among others. </div> <div> </div> <div> There has been doubt among private investors regarding inconsistency in law and the tax structure. The government should investors from frequent changes in policy and should pledge to bear all risks if generated by such abrupt change. </div> <div> </div> <div> Force majeure provision of another point of contention. Force majeure prevails when the situation is out of control of the developer such as in case of natural calamity. But in Nepal, government action is major such situation. </div> <div> </div> <div> Similarly, we have differences on various issues including lender rights and rights on water, among others. The draft is ambiguous on such issues and we want clarity for long term investment. </div> <div> (Bisht is Vice President at Independent Power Producers’ Association, Nepal (IPPAN))</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Promoters of Upper Karnali, Arun III, Tamakoshi III and lower Arun have demanded for Project Development Agreements (PDA)', 'sortorder' => '1417', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '1555', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Koirala to Meet Indian President, PM </strong></div> <div> <img alt="Nepali Congress (NC) president Sushil Koirala" src="/userfiles/images/Sushil%20Koirala.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 115px;" />Nepali Congress (NC) president Sushil Koirala is scheduled to meet Indian President Pranab Mukherjee, Prime Minister Dr Manmohan Singh, Congress (I) president and ruling United Progressive Alliance Chairperson Sonia Gandhi, among other leaders, during his trip to India this week. Likewise, he will visit Uttar Pradesh and Bihar where he will meet the Chief Minister of these Indian states. Koirala is formally visiting India upon the invitation of Indian PM for the first time after being elected as the president of the NC. General Secretary duo- Prakashman Singh and Krishna Prashad Sitaula- and Koirala’s personal aide Laxman Dhakal are accompanying him. </div> <div> </div> <div> <strong>‘Regmi should resign from CJ post’ </strong></div> <div> Central Working Committee Member Dr Sekhar Koirala has demanded that the Chairman of the Interim Election Council, Khil Raj Regmi, resign from the post of Chief Justice (CJ). Addressing a programme in Kathmandu last Monday, Dr Koirala claimed that the agitating parties would come to dialogue if Chairman Regmi quits the CJ post. Dr Koirala holds the view that the election will not be possible until the four major political forces, the agitating parties, the government and the international forces come to a common point. </div> <div> </div> <div> <strong>NC President Sees No Alternative to Elections </strong></div> <div> Nepali Congress president Sushil Koirala said that the election was an unconditional alternative for resolving the ongoing political crisis. Speaking at a programme in Nepalgunj on Wednesday, he urged all parties to participate in the upcoming elections to the Constituent Assembly. Similarly, he also directed his party ranks and file to be mobilised in the preparation of the November 19 election. </div> <div> </div> <div> <strong>‘Slim chances of CPN-Maoist participating in the polls’ </strong></div> <div> UCPN (Maoist) leader Narayankaji Shrestha said the chances of the CPN-Maoist party participating in the Constituent Assembly poll process are very slim. Speaking at a programme in the Capital on Wednesday, Shrestha claimed that the election for November 19 would not be cancelled or postponed even if the CPN-Maoist party did not come aboard for election. “Though there is a very low chance of the agitating parties joining the election process, we wouldn’t stop trying to bring them to it,” he said.</div> <div> </div> <div> <strong>Dahal Calls President </strong></div> <div> <img alt="UCPN (Maoist) Chairperson Pushpa Kamal Dahal " src="/userfiles/images/Pushpa.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 111px;" />President Dr Ram Baran Yadav has urged the UCPN (Maoist) Chairperson Pushpa Kamal Dahal to facilitate on making the upcoming election successful by taking all parties into confidence. President Dr Yadav made such request at a meeting at his own official residence Shital Niwas with Dahal on Thursday. Personal Aide of Dahal, Shiva Khakurel, informed that the President expressed his concern about the progress on bringing the agitating parties to the election process. In response to the President’s concern, Dahal apprised him that formal and informal talks with the dissident parties were underway. </div> <div> </div> <div> <strong>Information Centers to Be Established </strong></div> <div> In a bid to provide information to the people about security during the election, Armed Police Force (APF) is establishing its Information Centers. According to the IGP of APF, Kosh Raj Wanta, information centers will be established at all five regional units of the APF to provide information about the election and security to the people in fast, easy and simple way.</div> <div> </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' => 'Nepali Congress (NC) president Sushil Koirala is scheduled to meet Indian President Pranab Mukherjee', 'sortorder' => '1416', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '1554', 'article_category_id' => '142', 'title' => 'Poll Update (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>EC Makes Poll Schedule Public </strong></div> <div> The Election Commission made the time-table of the Constituent Assembly election scheduled for November 19 public on Thursday. According to the time-table released by the EC, political parties will have to file the nomination of candidates for Proportional Representation System on September 23, and the EC will publish the name list of parties on September 24. Likewise, the filing of nomination of candidacy for the First-Past-the-Post (FPTP) system has been set for September 26. The final closed list of candidates of parties under the proportional system will be published on November 9 and FPTP on September 30. </div> <div> </div> <div> <strong>Uprety Appointed as CDC Member </strong></div> <div> The government appointed Prof Chudaraj Uprety as a member of the Constituency Delineation Committee on Monday. The meeting of the Council of Ministers appointed Prof Uprety in the committee as a member after Dr Madhunidhi Tiwari tendered his resignation from the post.</div> <div> </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' => 'The Election Commission made the time-table of the Constituent Assembly election scheduled for November 19 public on Thursday.', 'sortorder' => '1415', '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' => '1553', 'article_category_id' => '143', 'title' => 'Repeating Electoral Violence?', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Sagar Ghimire</span></strong></div> <div> </div> <div> As November 19, the slated date for the Constituent Assembly election draws closer, poll fever gradually grips the government, the Election Commission (EC) as well as the political parties. The EC is in full swing to make the election happen on the scheduled date. It enforced the Code of Conduct for the election and made the election time-table public too. Likewise, the government also held a meeting recently with security organs for the election to chart out a joint security strategy for the event. </div> <div> </div> <div> However, political parties have failed to do their bit. Instead of forging a conducive and congenial environment to conduct the elections peacefully, the leaders of the parties are now fomenting violence through their speeches. </div> <div> </div> <div> The unfortunate announcement from the CPN-Maoist to disrupt the election wasn’t as much a surprise as was the demand of the Nepali Congress leader and cadre to form their own ‘security squad’. </div> <div> </div> <div> Though the NC president turned down the demand raised during the party’s Training of Trainers, the demand is indicative of the deeply embedded militant mindsets of the leaders and the cadres of all big parties. </div> <div> </div> <div> The recent remark by UCPN (Maoist) Chairperson Pushpa Kamal Dahal to mobilise 1000 Young Communist League cadres in each booth in response to the CPN-Maoist plan to deploy 10 cadres is tantamount to summon violent clashes in the upcoming elections. </div> <div> </div> <div> Violence has become a part and parcel of elections in Nepal. Earlier elections in Nepal also had witnessed massive use of violence, coercion and force by the parties. </div> <div> </div> <div> Political parties forming para-military forces and mobilising young goons during election campaigns and at poll booths is an enough evidence to indicate the proclivity of our leaders towards violence. </div> <div> </div> <div> Flexing muscles, particularly during elections, to influence voters, frighten opponents and intimidate election officers does not only undermine the credibility of the election but also violates citizens’ fundamental right to vote in a free and fair manner. When leaders or parties lose their confidence to woo the people through their policy and programme, they resort to wielding violence to bring election results to their favour. </div> <div> </div> <div> The CPN-Maoist party’s threat to disrupt polls by using force; UCPN (Maoist) Chairperson Dahal’s warning to counter the CPN-Maoist attempt; NC leaders and cadres pitting the idea of forming their own ‘security squad’; and rising aggression within the CPN (UML)’s sister-wing the Youth Association Nepal from notorious dons and hoodlums paint us a familiar picture of the forthcoming election -- one marred with violence. </div> <div> </div> <div> Fraught with violence, the CA election is also likely to be a battle ground for party leaders to exploit youths for their vested political interests. </div> <div> </div> <div> Use of violence during elections gets exposed in the international front by international observers and media which ultimately becomes a matter of shame for the country. </div> <div> </div> <div> The confrontations and clashes during the election are already imminent with parties, leaders and cadres that mull the formation of youth squads to use them in bringing the election results in their favour. The Election Commission has already executed the Code of Conduct and the government has prepared mechanisms to contain violence. Yet, these fall short in front of the unruly and unholy young goons, when they are shielded and patronised by their leaders. </div> <div> </div> <div> If elections are to be held in a democratic, fair and peaceful manner, political leaders and their parties should make a sincere and honest commitment to shun violence. The government should make sure that no element that inflicts violence is spared. Political parties should value peoples’ power over violence and try not to repeat our history of electoral violence.</div> <div> </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' => 'Business Ethics: Challenges in Implementation By Sagar Ghimire Though over 100 business companies have made a commitment towards the Business Code of Conduct (CoC) which was introduced by the National Business Initiative (NBI) last week in the Capital, implementation of such a self-abiding code will not be an easy task. The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Birjung Chamber of Commerce and Industry (BCCI), Hotel Association Nepal (HAN), Nepal Gas Dealers’ Association (NGDA), and Nepal Association of Foreign Employment Agencies (NAFEA) are some of the leading business associations that have endorsed the CoC. A recently conducted survey of Kathmandu-based companies entitled ‘Ethical Business Practice in Nepal’ by NBI has found only 7 per cent of the companies following business ethics, while 41 per cent of the sample were found weak in this. Likewise, 52 per cent of the sample was found to have attempted to implement the CoC and partially following it. Jyoti Baniya, general secretary of Forum for Protection of Consumer Rights, expressed doubt regarding the sincere implementation of the CoC by the business community. “Some tangible differences in behaviour should have been discerned these past few days,” Baniya told The Corporate. “They (business houses) did not even think it necessary to place a framed copy of the CoC on their walls.” He, however, welcomes the initiative of the business community to come up with the CoC. This finding of the survey indicates that the implementation of CoC is fraught with challenges. There are doubts as to whether companies will duly follow the provisions stated in the CoC at a time when there are allegations upon some of them that they are flouting the business laws of the country.Some member companies of the associations that endorsed the CoC have come under the government’s scanner for their unscrupulous deeds. Gas dealers, transport entrepreneurs, gold merchants, are alleged of carteling, syndicates, adulteration, tax evasion and other malpractices. However, Saroj Prasad Pandey, coordinator of the CoC campaign at the NBI, claims that he was very hopeful for its implementation. “The endorsement by over 100 business associations and an overwhelming support from the government, political parties, labour unions, the media and people within a week showed that the CoC can be implemented,” he said. Pandey informed that they will soon form a joint committee comprising representatives from various business sectors to supervise and evaluate the implementation of the CoC. Although bringing the CoC is a positive step towards winning the trust of consumers, consumer right advocates, however, say that its implementation will fully depend on the will-power of business firms and the support from political parties and the government. When leaders or parties lose their confidence to woo people through their policies and programmes, they resort to wielding violence to bring the election results to their favour.', 'sortorder' => '1414', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '1552', 'article_category_id' => '140', 'title' => 'Late Kafle’s Contributions For Human Rights Lauded', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">CPN (Maoist) Vice- Chairperson Bidya Devi Bhandari praised the role of late human rights leader Prakash Kafle in human rights, social justice and democracy. </span></div> <div> </div> <div> Speaking at a programme to mark the 21st Memorial Day of the late leader, Bhandari, also a former Defense Minister, admitted that the culprit for Niranjan Basnet’s and Maina Sunuwar’s murder could not be presented in the apex court. </div> <div> During the programme, conflict victim Sabitri Shrestha was felicitated with the Prakash Human Rights Award. The prize carries a purse of NRs 50 thousand and letter of appreciation.</div> <div> </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' => 'CPN (Maoist) Vice- Chairperson Bidya Devi Bhandari praised the role of late human rights leader Prakash Kafle in human rights, social justice and democracy.', 'sortorder' => '1413', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '1551', 'article_category_id' => '140', 'title' => 'UDMF Seeks A Month-long Extension Of Voter Registration', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The United Democratic Madhesi Front has demanded that the voter registration process be extended for one more month. A meeting of the UDMF, a member of the High Level Political Committee, held in the Capital on Wednesday has sought 30 days’ extension on the voter registration process, which had ended in mid-July. </span></div> <div> </div> <div> The meeting, however, has concluded that the election of the Constituent Assembly should be held on the scheduled date of November 19. Raj Kishor Yadav, Chairperson of Madhesi Janadhikar Forum-R, informed that the meeting has demanded the registration drive to be re-opened for a month in order to give a chance to those who have not registered themselves in the voter rolls. “Since this is the election of the Constituent Assembly, there should be maximum participation but many voters have not been registered to the list due to various reasons including the inability to present citizen certificates. They should not be disenfranchised,” Yadav said. He claimed that extending the deadline for the voter registration process would not hamper the schedule of the election much.</div> <div> </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' => 'The United Democratic Madhesi Front has demanded that the voter registration process be extended for one more month.', 'sortorder' => '1412', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '1550', 'article_category_id' => '140', 'title' => 'CPN-Maoist ‘Positive’ Towards Government’s Invitation', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> The CPN-Maoist party has said it responded positively to an invitation letter from the government to sit for a dialogue with agitating parties. “We have been positive towards the government’s invitation for table talks that has not set any condition,” said CPN-Maoist spokesperson Pampha Bhusal. “We will decide whether we will sit for the talks on Wednesday, August 7 or not after discussing the matter with the agitating parties.” </div> <div> </div> <div> “The invitation letter states that the government firmly believes the country’s problems should be resolved through dialogue, discussion and consultation,” said Information and Communication Minister Madhav Paudel. The government has sent the invitation to dissident parties twice so far. </div> <div> </div> <div> Likewise, the High Level Political Committee (HLPC) formally invited the 33-party alliance twice. Not a single table talk, however, has been held thus far. The CPN-Maoist-led 33-party alliance has been demanding the cancellation of the 25-point presidential decree of March 14, the 11-point agreement, the scheduled election for November 19, Round Table Conferences, an all-party-political government, and dissolving the Khilraj Regmi led dispensation as well as the HLPC, among other demands. The party has even threatened to disrupt the election if it is held and its demands are not met.</div> <div> </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' => 'The CPN-Maoist party has said it responded positively to an invitation letter from the government to sit for a dialogue with agitating parties.', 'sortorder' => '1411', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1564', 'article_category_id' => '153', 'title' => 'Convenience Stores Target Expansion', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <p> <strong style="font-size: 12px;">--By TC Correspondent</strong></p> <div> <div> Given the ever escalating population of the Kathmandu Valley, the need for convenience stores which can address the basic needs of customers, is being felt more than before. A convenience store is a small store, mostly located in densely populated areas, that stocks everyday items like groceries, toiletries, soft drinks, tobacco and liquor products along with other customised services. </div> <div> </div> <div> “Convenience stores are a successful business in western countries,” a manager with the Chaudhary Group promoted CG Mart remarked, adding, “We are confident that the idea is bound to pick up in Nepal too.” The people of Nepal are becoming busier and problems of space in core areas are rising, increasing the need for such stores. </div> <div> </div> <div> As the name suggests, the stores are mainly operated for the convenience of busy people. While some stores operate till late hours for the benefit of people who work in the evenings, they are also meant to facilitate busy and single people for their shopping needs. Some convenience stores also feature spaces where people can get their tea/coffee and ready-to-eat items for snacking needs. </div> <div> </div> <div> <strong>The Shift </strong></div> <div> The attitude and expectation of people towards shopping has changed completely. There used to be a time when people hopped from one shop to another looking to buy different commodities. However, the trend of convenience stores offering a wide range of items in a single place has caught on. “Not too long ago, Nepalis used to hesitate to enter convenience stores, but now the trend has witnessed a radical shift with a large number of convenience stores opening, targeting the middle class and offering quality products at reasonable prices,” said an observer. </div> <div> </div> <div> ‘Single shutter’ cold stores have turned to convenience stores in recent times and sell thousands of products from hundreds of local and international suppliers. This has resulted in direct employment of scores of local people in their own neighbourhood. </div> <div> </div> <div> <strong><img alt="CGMART" src="/userfiles/images/focus1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 225px;" />Expansion Spree </strong></div> <div> The movement in this sector has been rather evident. KK Store, a Malaysian chain store brand now operates four stores in Kathmandu. Similarly, CG Mart, Big Mart and Stuti Mero Mart among others too have opened multiple stores and boast of expansion plans in the Kathmandu Valley as well as other parts of the country. </div> <div> </div> <div> CG Mart also plans to develop convenience stores in a franchise style. “Those who are currently operating a mini-mart or a small supermarket can brand it in our name. However, they need to follow the rules and norms set by us,” said an official. CG is planning to open 10-12 convenience stores in Kathmandu this year and intends to increase the number to more than 100 in another two years. Apart from Kathmandu, the company has aimed to open stores in Pokhara, Butwal and Biratnagar. </div> <div> </div> <div> Stuti Mero Mart, a local chain of convenience stores, has expanded its presence in Kathmandu by opening outlets in Ghattekulo, Katyayani Chowk and Sinamangal. One of the major aims of Stuti Mero Mart is to expand its presence in all 35 wards of Kathmandu Metropolitan City. “We will be opening 17 more outlets in Kathmandu district within one-and-a-half years,” a store manager said. Upon completion of the expansion process in Kathmandu, Stuti intends to venture into Lalitpur and Bhaktapur districts before penetrating markets located outside the Kathmandu Valley. </div> <div> </div> <div> Mega Mart, the operator of Big Mart stores, has firmed plans to expand its retail network by opening 11 new stores in Nepal in 2013 including stores at Sanepa, Old Baneshwor, Sinamangal, Kalanki, New Bus Park, Pepsicola and Dholahiti in Patan. A manager at Big Mart said the store expansion programme is part of the company’s strategy to expand into neighbourhood regions. “Our aim is to reach out to as many places as possible for the convenience of our customers,” he said. The company also plans to expand outside the Kathmandu Valley by opening stores in Pokhara and Biratnagar. </div> <div> </div> <div> <strong><img alt="BIGMART" src="/userfiles/images/focus2.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 225px;" />Major Players </strong></div> <div> CG Mart stores offer everyday items like groceries, toiletries, beverages, tobacco and liquor along with various customised services. Stores located in densely populated areas have been designed to fulfill the daily requirements of people residing or working nearby. Largely famous in Western countries, the company believes that the concept will be equally popular in Nepal. The company has set up its own supply chain so that they need not depend on other agencies for stock. It believes that the supply chain will also help to price the goods nominally. CG Mart opens from 7 am to 11 pm to cater to the needs of people with busy schedules. </div> <div> </div> <div> ANS Co has ventured into retail business by opening a chain of convenience stores named Stuti Mero Mart in different parts of Kathmandu. An official of the company said the main objective of the mart is to provide an impeccable shopping experience at the local level. </div> <div> </div> <div> Stuti Mero Mart outlets open from 8 am to 8 pm and boast of a collection of around 7,500 items, both domestic and imported. These items range from spices, meat and confectionaries to cosmetic items, toiletries, liquor and kitchen ware. All its outlets are spread over an area of 2,000 to 3,000 sq ft with each store hiring 8-10 local employees. All outlets of Stuti Mero Mart are also providing free home delivery service for the convenience of its customers. Stuti Mero Mart is also planning to launch an online store soon so that customers can place orders from home. </div> <div> </div> <div> Big Mart, on the other hand, maintains four stores at City Center in Kamalpokhari, Lazimpat, Shantinagar and Jhamsikhel. Big Mart plans to take its store tally to 15 by the year-end. </div> <div> </div> <div> <strong>Store Locations </strong></div> <div> Possibility and feasibility are the prime factors in determining the locations of convenience stores, said a store manager of Big Mart. CG Mart too said it chooses the location as per its plan to penetrate high-potential areas for retail business. “We plan to open stores in highly populated areas to meet daily requirements of people residing there or working nearby,” it said. </div> <div> </div> <div> CG Mart plans to open around 300 to 400 outlets across the country within the next three years. Outside the valley, CG Mart will expand in areas having high density population like Pokhara, Butwal and Biratnagar. </div> <div> </div> <div> <strong>Target Market </strong></div> <div> “We are mainly targeting new and affluent suburbs of Kathmandu,” said a manager at Mega Mart. Big Mart stores cater to the needs of people from all income groups. Besides the usual products, the store also features chicken, goat and buffalo meat. </div> <div> </div> <div> <strong>The ‘Chain’ Effect </strong></div> <div> A chain of convenience stores usually have uniform products, mostly consisting of consumables. Even though they do not command large volumes as stand alone units, the numbers start becoming significant when one combines the volume going out to all stores. This factor provides the companies leverage against suppliers, allowing them to negotiate for larger margins. Those benefits could then be passed on to the consumers. The chain stores in Kathmandu are already operating for 16 hours a day and in the future, there is scope for 24-hour stores, said industry analysts. Chain stores in Nepal could also emulate stores abroad and provide tea/ coffee, hot food and other related items that would make these stores even more convenient for consumers, they said.</div> </div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Popular convenience store chains in Kathmandu are looking to rapidly expand their business by opening new outlets.', 'sortorder' => '1425', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '1563', 'article_category_id' => '154', 'title' => 'Learning Curve News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Committee Formed to Celebrate 8th National Library Day </strong></div> <div> A main organisation committee has been formed in the chairmanship of Narayan Gopal Malego, secretary of the Ministry of Education, to celebrate the 8th National Library Day on Bhadra 15 (August 31st). Bhim Dhwoj Shrestha, chief at the Tribhuwan University’s Central Department of Library and Information Science, has been appointed as Vice-chairman of the committee. The National Library Day has been celebrated annually for the last 7 years to increase awareness about libraries. The committee has decided to celebrate this year’s library day as a weeklong celebration. </div> <div> </div> <div> <strong>BBA Programmes to have 4th Year </strong></div> <div> The Ministry of Education has directed colleges with Indian university affiliation offering BBA (Bachelor in Business Administration) programmes to extend the programme to 4 years. As the BBA programmes offered in Tribhuwan University (TU) and Kathmandu University (KU) are of 4 years, the ministry has directed colleges with Indian university affiliations to change their programmes to 4-year-programmes too. This step has been taken to maintain the equivalence among students from Nepali universities and Indian universities. </div> <div> </div> <div> <strong>PF for Community Schools’ Staff </strong></div> <div> Staffs of community colleges are now to be provided with Provident Funds (PF) and gratuity. The Ministry of Education has made ‘service laws’ according to which staffs who have served for 5-10 years will get half a month’s salary as gratuity annually. Those who have served for 10-15 years will get a month’s salary as gratuity and persons who have served for more than 15 years will get a month and a half’s worth of salary as gratuity annually. The law has been made by the Ministry of Education, guaranteeing services and facilities for community school staffs in accordance with the order of the Supreme Court. </div> <div> </div> <div> <strong>Private Schools not to Increase Staff Salary </strong></div> <div> Though the government increased the salary of government schools’ staffs this fiscal year, private schools have decided not to follow suit. According to the Education Regulation, there is a provision to increase the salary every educational year, not the fiscal year. There is a clear provision in the ‘Organisational Schools Directory’ released by the government that salaries are increased only in the start of the educational year and facilities and services too are fixed by that time. “Salaries cannot be increased in the middle of the educational year,” says chairman of PABSON, Dr Babu Ram Pokharel. </div> <div> </div> <div> <strong>A New HR Services Enterprise </strong></div> <div> <img alt="BizSupport" src="/userfiles/images/bspl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 28px;" />A new HR service providing company named ‘Bizsupport’ has been opened with the purpose to serve the wider arena of business and economy by inspiring MBA students to pursue Human Resource Management as their career. Bizsupport is headed by a human resources management practitioner with 22 plus years experience as Head of Human Resources in various organizations like hotels, MNCs, banks etc. Bizsupport tries to deliver its services distinctively from others in terms of quality and efficiency in order to add value to business. It provides services like business process outsourcing, representation direct marketing, HR audit, recruitment executive search, training and development, competency mapping, event management, HR systems, organizational development and PMS (Performance Managanement Systems).</div> <div> </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' => 'Staffs of community colleges are now to be provided with Provident Funds (PF) and gratuity.', 'sortorder' => '1424', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '1562', 'article_category_id' => '156', 'title' => 'Mirroring The Boss In Just The Right Way', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Ray A. Smith</strong></div> <div> </div> <div> Eager to move up the corporate ladder? Take note of what the executive suite is wearing. <span style="font-size: 12px;">Conventional career wisdom holds that dressing like the boss helps advance one’s career. But sometimes the boss can be hard to emulate. Say, he’s a 6’3” male in a suit and tie and you’re a curvy 5’3” female who prefers dresses. Or maybe she loves brights and you’re more of an earth tones person. On the other hand, you don’t want your looks to be too similar— read Mini-Mi—either. The issue of taking style cues cuts across a range of industries, including ones where there is a leisure component – which can mean separate “boss” styles depending on what day of the week, or time of the day it is. </span></div> <div> </div> <div> Sarah Cruse “is not a buttoned-up kind of suit person, but there are times she needs to be,” said Marion Gellatly, founder of Powerful Presence, an image-consulting firm in Pebble Beach, Calif. Ms. Gellatly was referring to a long-standing client she has been helping dress a little more executive suite. A few months into a new job as a general manager of a hotel and golf club, Ms. Cruse worried that what she was wearing didn’t properly represent “a high-end corporation” and didn’t look managerial enough. She said she noticed the way one of her higher ups, a woman, and their joint boss, a man, dressed. </div> <div> </div> <div> “She was immaculate in her presentation, always put together,” said Ms. Cruse. “Our boss is an impeccable dresser, whether in a suit, casual jacket, or jeans and a sweater. As a representative of his operation, it was important I learned how to dress the part, while still carrying my own personality.” Ms. Gellatly and Ms. Cruse laid out a plan to shop for colorful and patterned dresses and skirts, but also, to nod to the polished look of her higher ups, neutral jackets she could wear over them, and the occasional suit. The goal was to conform, but in a way that suited her. “[Ms. Cruse] has a lively personality,” said Ms. Gellatly, a former president of the Association of Image Consultants International. “We can’t put her into a conservative suit and have that be authentic to who she is.” </div> <div> </div> <div> Lois Barth, a business and lifestyle coach, offers these tips: “It’s important to retain your own sensibility with clothing, to an extent, while still adjusting to the new boss, depending on who the “boss” is. In other words if it’s a CEO or someone who sets the vision of the company, that’s more of an issue than a middle manager, who is less about the vision and more about the day-to-day carrying out of the vision. You have more wiggle room in honoring what your clothing is with a middle manager.” If the CEO wears a suit, and you are wearing a dress shirt and pants or a dressy blouse and a skirt, “maybe there’s a middle ground of a sports jacket” or blazer, she said. “Adapting and adjusting are important, but not mimicking.” </div> <div> </div> <div> Ms. Barth says you can personalize with accessories. “Maybe there’s a cool scarf you can add to the outfit to keep it you.” If the boss is into bright colors or eclectic accessories and that’s not what you’re into, she said you can dip in rather than dive. “You can go with “alignment attire” where you’re capturing the essence of them, with an artsy tie or a pin that has some color, but not mimicking.” </div> <div> </div> <div> The most important thing is to be comfortable in the look. It shouldn’t feel forced. Find ways to adapt the boss’s style in a way that suits you. </div> <div> (blogs.wsj.com/atwork)</div> <div> </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' => 'Eager to move up the corporate ladder? Take note of what the executive suite is wearing.', 'sortorder' => '1423', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1561', 'article_category_id' => '155', 'title' => 'MBA: Teaches Management Of Every Sector', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong><img alt="Dr Binod Kumar Khatri, the Principal at Phoenix College of Management" src="/userfiles/images/Dr%20Binod%20Kumar%20Khatri.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 175px; height: 223px;" />Dr Binod Kumar Khatri</strong> is the Principal <span style="font-size: 12px;">at Phoenix College of Management. <strong>Ashok Poudel</strong> of The Corporate talked with him about MBA and EMBA education in Nepal. <strong>Excerpts:</strong> </span></div> <div> </div> <div> <strong>What is the current status of MBA colleges in Nepal? </strong></div> <div> Various MBA programmmes have been opened in Nepal with foreign university affiliations and some running under Nepali Universities. An MBA education gives managerial skills and the demand for management skills is on the rise in Nepal. The number of MBA colleges in Nepal is subsequently increasing. This should ideally bring competition in the quality of education as well as infrastructure and facilities. </div> <div> </div> <div> <strong>How interested are students towards this subject? </strong></div> <div> Students who want to make a career in banking and the financial sector make an MBA degree their first choice. However, MBA students are in demand in other sectors too. There is a strong job guarantee for MBA students. They can also become entrepreneurs. </div> <div> </div> <div> <strong>How different is the curriculum of a Nepali University compared to a foreign university? </strong></div> <div> There is no difference in the curriculum as such. The Nepali curriculum is of international standard too but foreign universities place more emphasis on practical education. An MBA makes a person a ‘generalist’ and every MBA college focuses on the practical section rather than the theoretical. There is a misconception that students get better quality education abroad. MBA students from Nepal are capable of competing anywhere in the world. </div> <div> </div> <div> <strong>What is the difference between the EMBA and the MBA? </strong></div> <div> Both are masters’ degrees in management. A graduate student in any subject can enroll in the EMBA or the MBA programme. EMBA is a course studied to be capable of leadership in management and the business sector. It helps to build a strong base in management and entrepreneurial skills. The course was basically introduced for business people to enhance their skills. The EMBA programme is now in demand in the corporate sector. The only difference between an MBA and an EMBA programme is that EMBA is targeted to working professionals whereas MBA is for regular students. </div> <div> </div> <div> <strong>Can a graduate in any subject pursue an MBA? </strong></div> <div> The MBA programme is targeted to graduates in any subject. Perhaps it will be comparatively easy for a management graduate. EMBA students are in demand in sectors such as engineering and business. </div> <div> </div> <div> <strong>How would you explain the importance of an MBA education? </strong></div> <div> There are many fields in the world for formal and occupational education such as medical science, engineering, law and education. Students who pursue them become advocates, teachers, and doctors. But a teacher needs to operate a school, an advocate a law firm and a doctor a hospital, and for that only occupational knowledge is not enough. An MBA degree imparts students with managerial skills to accomplish running these various places of work. </div> <div> </div> <div> <strong>What suggestions would you give to students willing to enroll in an MBA programme? </strong></div> <div> An MBA programme in Nepal is less expensive but competition across borders decides which programme is better. Students should choose a college not on the basis uniforms, distance, or the fee structure but on the quality of education available. Enroll in an MBA programme if you are willing to be a manager or administrator, and not just for obtaining a degree.</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Various MBA programmmes have been opened in Nepal with foreign university affiliations and some running under Nepali Universities.', 'sortorder' => '1422', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '1560', 'article_category_id' => '146', 'title' => 'Visual Edit Issue 25', 'sub_title' => '', 'summary' => null, 'content' => '', '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' => 'Visual Edit', 'sortorder' => '1421', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '1559', 'article_category_id' => '105', 'title' => 'CEO’s Facebook', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">After he lost the job of the CEO of a bank, somebody wrote on the ex-CEO’s face book wall: This must have been worse than divorce. </span></div> <div> The CEO posted his reply: “I still have my wife with me.” -ML</div> <div> </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' => 'After he lost the job of the CEO of a bank, somebody wrote on the ex-CEO’s face book wall:', 'sortorder' => '1420', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '1558', 'article_category_id' => '105', 'title' => 'Way To Heaven', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The commodity market in Nepal crashed, but the market analysts and exchange owners did not call it a crash though many people lost a lot of money. They called it a ‘correction’. A business journalist asked one of the commodity exchange CEOs in a press conference, “How can you say whether it is a correction or a crash?” She did not get a satisfactory answer. </span></div> <div> </div> <div> Here is a simple way to explain this: Suppose a bus had a crash and three passengers died on the spot. You can say:” The bus had a correction as the three men were on the way to heaven?” </div> <div> </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' => 'The commodity market in Nepal crashed, but the market analysts and exchange owners did not call it a crash though many people lost a lot of money.', 'sortorder' => '1419', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '1557', 'article_category_id' => '144', 'title' => 'Transparency In Political Finance', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">In a commendable move, Nepali Congress has recently promised that it is ready to reveal sources of funds it collects for the coming elections. The party has announced its commitment also to accept donation through cheque. </span></div> <div> </div> <div> The announcement may have provided relief to business community. It is a common practice around the world that political parties collect funds from donation to build and sustain the organisation, to train party cadres and fight elections. Equally important fact is that the sources of such funding undeniably influence the behaviour of the funded party if it comes to power. So this issue impacts directly on democratic rights. </div> <div> </div> <div> Principally, the major share of funding should be from voluntary contribution but that is not happening in Nepal. Almost all political parties tend to amass cash by force. Forceful donation drive by political parties has become common phenomenon and has terrorized the entire business community. </div> <div> </div> <div> The recent announcement of Nepali Congress has provided strong ground to business community to bring donation issue in public domain. Other political parties should be ready to do the same. As public political institutions, political parties should be proactive to disclose their information to public and arrange for regular briefings using various information demystification channels. </div> <div> </div> <div> On the other hand, all political parties should be ready for the public audit of their income and expenditure since transparency is considered the hallmark of democracy. Political parties should pledge to introduce a law to ban anonymous donations. </div> <div> </div> <div> Against this backdrop, it is high time to address the demand for public disclosure of political finances because: 1) it helps prevent financial abuse during election, and 2) it is necessary to promote healthy political competition. </div> <div> </div> <div> We need a body akin to what was set up in the U.S. under the Federal Election Campaign Act 1974. The US agency called the Federal Election Commission supervises all financial transactions by political bodies that have solicited or spent money to support or defeat federal candidates. The organisation verifies all reports presented, and discloses the same to the public and the media. Election Commission in Nepal should be empowered to do exactly the same. </div> <div> </div> <div> Transparency in donation also helps boost morale of country’s business community that has faced many hassles to adjust their account because they were forced to provide donation in such a way that they could not keep any record of such donation. Political parties should ensure that election is not an event to terrorize business community. </div> <div> </div> <div> Nepal needs to set up a mechanism that can make for accountability on the sources and utilisation of party funds. The present opportunity and its timing can be used to promise the much-needed change since the country is ready to go for new CA election.</div> <div> </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' => 'In a commendable move, Nepali Congress has recently promised that it is ready to reveal sources of funds it collects for the coming elections.', 'sortorder' => '1418', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '1556', 'article_category_id' => '145', 'title' => 'Private Sector Demands On PDA Draft', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong style="font-size: 12px;">--By Khadk Bahadur Bisht</strong></div> <div> </div> <div> Promoters of Upper Karnali, Arun III, Tamakoshi III and lower Arun have demanded for Project Development Agreements (PDA) with the government while Foreign banks’ hesitate to invest in hydropower in the absence of government commitment. Promoters have been demanding for security from the government due to high risks associated with this sector and drafting the PDA is closely related to this. </div> <div> </div> <div> It was initially known as ‘Project Agreement’ (PA). The term was later changed to Project Development Agreement (PDA). The PDA draft was initiated after immense pressure from the developers. However, the present draft has been criticised for not being bankable. </div> <div> </div> <div> Promoters of big projects had applied for PDA in 2010 when there was no Investment Board. After the board was established, the government decided to adopt the practice, whereby the projects 500MW or above came under the responsibility of the Investment Board. </div> <div> </div> <div> Similar contracts between the government and investors are prevalent in countries like Canada and Australia. PDA is meant to .. the risks and returns between the government and the investors as neither of them can bear all of the risks alone. </div> <div> </div> <div> The Investment Board started to draft the PDA according to investment polices of foreign banks. Meanwhile, the government decided to bring even projects with capacities below 500 MW under the purview of the PDA. Ministry of Energy thus drafted a separate PDA. The risks are almost the same even in 499 MW projects. </div> <div> </div> <div> Although the objectives are similar, there are differences between the draft presented by the board and that by the Ministry of Energy. Fundamental differences are seen between the ministry’s draft two years ago and its draft today. The previous thinking was that only foreign developers needed the PDA. </div> <div> </div> <div> Policy stability is a must for hydropower projects and this is one reason why the private sector has begun to pressure the government for PDA. They fear that if the government increases the rate of VAT, the project cost will go up enormously. </div> <div> </div> <div> On the other hand, if the bank sees low possibility of pay back, it may stop releasing even the sanctioned funds, this jeopardising the project. Investors have therefore demanded that a PDA should be made mandatory for projects with capacities less than 500MW. </div> <div> </div> <div> Recently, the Independent Power Producers’ Association, Nepal (IPPAN) had reviewed the PDA draft formulated for lower capacity hydropower projects. We have been raising demands that the PDA should be in line with international standards. That is, the notion of give-and-take should be articulated well in the document. </div> <div> </div> <div> Failure of the government to issue the permission on time is one of the main reasons for delay in project implementation. The government has to approve the Environmental Impact Assessment (EIA) on time. Similarly, it has the responsibility of facilitating promoters at various levels where they face hurdles such as at the local level created by forestry users and by taxes levied on sand, stone aggregates and inland, cargo transportation, among others. </div> <div> </div> <div> There has been doubt among private investors regarding inconsistency in law and the tax structure. The government should investors from frequent changes in policy and should pledge to bear all risks if generated by such abrupt change. </div> <div> </div> <div> Force majeure provision of another point of contention. Force majeure prevails when the situation is out of control of the developer such as in case of natural calamity. But in Nepal, government action is major such situation. </div> <div> </div> <div> Similarly, we have differences on various issues including lender rights and rights on water, among others. The draft is ambiguous on such issues and we want clarity for long term investment. </div> <div> (Bisht is Vice President at Independent Power Producers’ Association, Nepal (IPPAN))</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Promoters of Upper Karnali, Arun III, Tamakoshi III and lower Arun have demanded for Project Development Agreements (PDA)', 'sortorder' => '1417', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '1555', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Koirala to Meet Indian President, PM </strong></div> <div> <img alt="Nepali Congress (NC) president Sushil Koirala" src="/userfiles/images/Sushil%20Koirala.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 115px;" />Nepali Congress (NC) president Sushil Koirala is scheduled to meet Indian President Pranab Mukherjee, Prime Minister Dr Manmohan Singh, Congress (I) president and ruling United Progressive Alliance Chairperson Sonia Gandhi, among other leaders, during his trip to India this week. Likewise, he will visit Uttar Pradesh and Bihar where he will meet the Chief Minister of these Indian states. Koirala is formally visiting India upon the invitation of Indian PM for the first time after being elected as the president of the NC. General Secretary duo- Prakashman Singh and Krishna Prashad Sitaula- and Koirala’s personal aide Laxman Dhakal are accompanying him. </div> <div> </div> <div> <strong>‘Regmi should resign from CJ post’ </strong></div> <div> Central Working Committee Member Dr Sekhar Koirala has demanded that the Chairman of the Interim Election Council, Khil Raj Regmi, resign from the post of Chief Justice (CJ). Addressing a programme in Kathmandu last Monday, Dr Koirala claimed that the agitating parties would come to dialogue if Chairman Regmi quits the CJ post. Dr Koirala holds the view that the election will not be possible until the four major political forces, the agitating parties, the government and the international forces come to a common point. </div> <div> </div> <div> <strong>NC President Sees No Alternative to Elections </strong></div> <div> Nepali Congress president Sushil Koirala said that the election was an unconditional alternative for resolving the ongoing political crisis. Speaking at a programme in Nepalgunj on Wednesday, he urged all parties to participate in the upcoming elections to the Constituent Assembly. Similarly, he also directed his party ranks and file to be mobilised in the preparation of the November 19 election. </div> <div> </div> <div> <strong>‘Slim chances of CPN-Maoist participating in the polls’ </strong></div> <div> UCPN (Maoist) leader Narayankaji Shrestha said the chances of the CPN-Maoist party participating in the Constituent Assembly poll process are very slim. Speaking at a programme in the Capital on Wednesday, Shrestha claimed that the election for November 19 would not be cancelled or postponed even if the CPN-Maoist party did not come aboard for election. “Though there is a very low chance of the agitating parties joining the election process, we wouldn’t stop trying to bring them to it,” he said.</div> <div> </div> <div> <strong>Dahal Calls President </strong></div> <div> <img alt="UCPN (Maoist) Chairperson Pushpa Kamal Dahal " src="/userfiles/images/Pushpa.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 111px;" />President Dr Ram Baran Yadav has urged the UCPN (Maoist) Chairperson Pushpa Kamal Dahal to facilitate on making the upcoming election successful by taking all parties into confidence. President Dr Yadav made such request at a meeting at his own official residence Shital Niwas with Dahal on Thursday. Personal Aide of Dahal, Shiva Khakurel, informed that the President expressed his concern about the progress on bringing the agitating parties to the election process. In response to the President’s concern, Dahal apprised him that formal and informal talks with the dissident parties were underway. </div> <div> </div> <div> <strong>Information Centers to Be Established </strong></div> <div> In a bid to provide information to the people about security during the election, Armed Police Force (APF) is establishing its Information Centers. According to the IGP of APF, Kosh Raj Wanta, information centers will be established at all five regional units of the APF to provide information about the election and security to the people in fast, easy and simple way.</div> <div> </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' => 'Nepali Congress (NC) president Sushil Koirala is scheduled to meet Indian President Pranab Mukherjee', 'sortorder' => '1416', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '1554', 'article_category_id' => '142', 'title' => 'Poll Update (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>EC Makes Poll Schedule Public </strong></div> <div> The Election Commission made the time-table of the Constituent Assembly election scheduled for November 19 public on Thursday. According to the time-table released by the EC, political parties will have to file the nomination of candidates for Proportional Representation System on September 23, and the EC will publish the name list of parties on September 24. Likewise, the filing of nomination of candidacy for the First-Past-the-Post (FPTP) system has been set for September 26. The final closed list of candidates of parties under the proportional system will be published on November 9 and FPTP on September 30. </div> <div> </div> <div> <strong>Uprety Appointed as CDC Member </strong></div> <div> The government appointed Prof Chudaraj Uprety as a member of the Constituency Delineation Committee on Monday. The meeting of the Council of Ministers appointed Prof Uprety in the committee as a member after Dr Madhunidhi Tiwari tendered his resignation from the post.</div> <div> </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' => 'The Election Commission made the time-table of the Constituent Assembly election scheduled for November 19 public on Thursday.', 'sortorder' => '1415', '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' => '1553', 'article_category_id' => '143', 'title' => 'Repeating Electoral Violence?', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Sagar Ghimire</span></strong></div> <div> </div> <div> As November 19, the slated date for the Constituent Assembly election draws closer, poll fever gradually grips the government, the Election Commission (EC) as well as the political parties. The EC is in full swing to make the election happen on the scheduled date. It enforced the Code of Conduct for the election and made the election time-table public too. Likewise, the government also held a meeting recently with security organs for the election to chart out a joint security strategy for the event. </div> <div> </div> <div> However, political parties have failed to do their bit. Instead of forging a conducive and congenial environment to conduct the elections peacefully, the leaders of the parties are now fomenting violence through their speeches. </div> <div> </div> <div> The unfortunate announcement from the CPN-Maoist to disrupt the election wasn’t as much a surprise as was the demand of the Nepali Congress leader and cadre to form their own ‘security squad’. </div> <div> </div> <div> Though the NC president turned down the demand raised during the party’s Training of Trainers, the demand is indicative of the deeply embedded militant mindsets of the leaders and the cadres of all big parties. </div> <div> </div> <div> The recent remark by UCPN (Maoist) Chairperson Pushpa Kamal Dahal to mobilise 1000 Young Communist League cadres in each booth in response to the CPN-Maoist plan to deploy 10 cadres is tantamount to summon violent clashes in the upcoming elections. </div> <div> </div> <div> Violence has become a part and parcel of elections in Nepal. Earlier elections in Nepal also had witnessed massive use of violence, coercion and force by the parties. </div> <div> </div> <div> Political parties forming para-military forces and mobilising young goons during election campaigns and at poll booths is an enough evidence to indicate the proclivity of our leaders towards violence. </div> <div> </div> <div> Flexing muscles, particularly during elections, to influence voters, frighten opponents and intimidate election officers does not only undermine the credibility of the election but also violates citizens’ fundamental right to vote in a free and fair manner. When leaders or parties lose their confidence to woo the people through their policy and programme, they resort to wielding violence to bring election results to their favour. </div> <div> </div> <div> The CPN-Maoist party’s threat to disrupt polls by using force; UCPN (Maoist) Chairperson Dahal’s warning to counter the CPN-Maoist attempt; NC leaders and cadres pitting the idea of forming their own ‘security squad’; and rising aggression within the CPN (UML)’s sister-wing the Youth Association Nepal from notorious dons and hoodlums paint us a familiar picture of the forthcoming election -- one marred with violence. </div> <div> </div> <div> Fraught with violence, the CA election is also likely to be a battle ground for party leaders to exploit youths for their vested political interests. </div> <div> </div> <div> Use of violence during elections gets exposed in the international front by international observers and media which ultimately becomes a matter of shame for the country. </div> <div> </div> <div> The confrontations and clashes during the election are already imminent with parties, leaders and cadres that mull the formation of youth squads to use them in bringing the election results in their favour. The Election Commission has already executed the Code of Conduct and the government has prepared mechanisms to contain violence. Yet, these fall short in front of the unruly and unholy young goons, when they are shielded and patronised by their leaders. </div> <div> </div> <div> If elections are to be held in a democratic, fair and peaceful manner, political leaders and their parties should make a sincere and honest commitment to shun violence. The government should make sure that no element that inflicts violence is spared. Political parties should value peoples’ power over violence and try not to repeat our history of electoral violence.</div> <div> </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' => 'Business Ethics: Challenges in Implementation By Sagar Ghimire Though over 100 business companies have made a commitment towards the Business Code of Conduct (CoC) which was introduced by the National Business Initiative (NBI) last week in the Capital, implementation of such a self-abiding code will not be an easy task. The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Birjung Chamber of Commerce and Industry (BCCI), Hotel Association Nepal (HAN), Nepal Gas Dealers’ Association (NGDA), and Nepal Association of Foreign Employment Agencies (NAFEA) are some of the leading business associations that have endorsed the CoC. A recently conducted survey of Kathmandu-based companies entitled ‘Ethical Business Practice in Nepal’ by NBI has found only 7 per cent of the companies following business ethics, while 41 per cent of the sample were found weak in this. Likewise, 52 per cent of the sample was found to have attempted to implement the CoC and partially following it. Jyoti Baniya, general secretary of Forum for Protection of Consumer Rights, expressed doubt regarding the sincere implementation of the CoC by the business community. “Some tangible differences in behaviour should have been discerned these past few days,” Baniya told The Corporate. “They (business houses) did not even think it necessary to place a framed copy of the CoC on their walls.” He, however, welcomes the initiative of the business community to come up with the CoC. This finding of the survey indicates that the implementation of CoC is fraught with challenges. There are doubts as to whether companies will duly follow the provisions stated in the CoC at a time when there are allegations upon some of them that they are flouting the business laws of the country.Some member companies of the associations that endorsed the CoC have come under the government’s scanner for their unscrupulous deeds. Gas dealers, transport entrepreneurs, gold merchants, are alleged of carteling, syndicates, adulteration, tax evasion and other malpractices. However, Saroj Prasad Pandey, coordinator of the CoC campaign at the NBI, claims that he was very hopeful for its implementation. “The endorsement by over 100 business associations and an overwhelming support from the government, political parties, labour unions, the media and people within a week showed that the CoC can be implemented,” he said. Pandey informed that they will soon form a joint committee comprising representatives from various business sectors to supervise and evaluate the implementation of the CoC. Although bringing the CoC is a positive step towards winning the trust of consumers, consumer right advocates, however, say that its implementation will fully depend on the will-power of business firms and the support from political parties and the government. When leaders or parties lose their confidence to woo people through their policies and programmes, they resort to wielding violence to bring the election results to their favour.', 'sortorder' => '1414', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '1552', 'article_category_id' => '140', 'title' => 'Late Kafle’s Contributions For Human Rights Lauded', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">CPN (Maoist) Vice- Chairperson Bidya Devi Bhandari praised the role of late human rights leader Prakash Kafle in human rights, social justice and democracy. </span></div> <div> </div> <div> Speaking at a programme to mark the 21st Memorial Day of the late leader, Bhandari, also a former Defense Minister, admitted that the culprit for Niranjan Basnet’s and Maina Sunuwar’s murder could not be presented in the apex court. </div> <div> During the programme, conflict victim Sabitri Shrestha was felicitated with the Prakash Human Rights Award. The prize carries a purse of NRs 50 thousand and letter of appreciation.</div> <div> </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' => 'CPN (Maoist) Vice- Chairperson Bidya Devi Bhandari praised the role of late human rights leader Prakash Kafle in human rights, social justice and democracy.', 'sortorder' => '1413', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '1551', 'article_category_id' => '140', 'title' => 'UDMF Seeks A Month-long Extension Of Voter Registration', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The United Democratic Madhesi Front has demanded that the voter registration process be extended for one more month. A meeting of the UDMF, a member of the High Level Political Committee, held in the Capital on Wednesday has sought 30 days’ extension on the voter registration process, which had ended in mid-July. </span></div> <div> </div> <div> The meeting, however, has concluded that the election of the Constituent Assembly should be held on the scheduled date of November 19. Raj Kishor Yadav, Chairperson of Madhesi Janadhikar Forum-R, informed that the meeting has demanded the registration drive to be re-opened for a month in order to give a chance to those who have not registered themselves in the voter rolls. “Since this is the election of the Constituent Assembly, there should be maximum participation but many voters have not been registered to the list due to various reasons including the inability to present citizen certificates. They should not be disenfranchised,” Yadav said. He claimed that extending the deadline for the voter registration process would not hamper the schedule of the election much.</div> <div> </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' => 'The United Democratic Madhesi Front has demanded that the voter registration process be extended for one more month.', 'sortorder' => '1412', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '1550', 'article_category_id' => '140', 'title' => 'CPN-Maoist ‘Positive’ Towards Government’s Invitation', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> The CPN-Maoist party has said it responded positively to an invitation letter from the government to sit for a dialogue with agitating parties. “We have been positive towards the government’s invitation for table talks that has not set any condition,” said CPN-Maoist spokesperson Pampha Bhusal. “We will decide whether we will sit for the talks on Wednesday, August 7 or not after discussing the matter with the agitating parties.” </div> <div> </div> <div> “The invitation letter states that the government firmly believes the country’s problems should be resolved through dialogue, discussion and consultation,” said Information and Communication Minister Madhav Paudel. The government has sent the invitation to dissident parties twice so far. </div> <div> </div> <div> Likewise, the High Level Political Committee (HLPC) formally invited the 33-party alliance twice. Not a single table talk, however, has been held thus far. The CPN-Maoist-led 33-party alliance has been demanding the cancellation of the 25-point presidential decree of March 14, the 11-point agreement, the scheduled election for November 19, Round Table Conferences, an all-party-political government, and dissolving the Khilraj Regmi led dispensation as well as the HLPC, among other demands. The party has even threatened to disrupt the election if it is held and its demands are not met.</div> <div> </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' => 'The CPN-Maoist party has said it responded positively to an invitation letter from the government to sit for a dialogue with agitating parties.', 'sortorder' => '1411', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1564', 'article_category_id' => '153', 'title' => 'Convenience Stores Target Expansion', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <p> <strong style="font-size: 12px;">--By TC Correspondent</strong></p> <div> <div> Given the ever escalating population of the Kathmandu Valley, the need for convenience stores which can address the basic needs of customers, is being felt more than before. A convenience store is a small store, mostly located in densely populated areas, that stocks everyday items like groceries, toiletries, soft drinks, tobacco and liquor products along with other customised services. </div> <div> </div> <div> “Convenience stores are a successful business in western countries,” a manager with the Chaudhary Group promoted CG Mart remarked, adding, “We are confident that the idea is bound to pick up in Nepal too.” The people of Nepal are becoming busier and problems of space in core areas are rising, increasing the need for such stores. </div> <div> </div> <div> As the name suggests, the stores are mainly operated for the convenience of busy people. While some stores operate till late hours for the benefit of people who work in the evenings, they are also meant to facilitate busy and single people for their shopping needs. Some convenience stores also feature spaces where people can get their tea/coffee and ready-to-eat items for snacking needs. </div> <div> </div> <div> <strong>The Shift </strong></div> <div> The attitude and expectation of people towards shopping has changed completely. There used to be a time when people hopped from one shop to another looking to buy different commodities. However, the trend of convenience stores offering a wide range of items in a single place has caught on. “Not too long ago, Nepalis used to hesitate to enter convenience stores, but now the trend has witnessed a radical shift with a large number of convenience stores opening, targeting the middle class and offering quality products at reasonable prices,” said an observer. </div> <div> </div> <div> ‘Single shutter’ cold stores have turned to convenience stores in recent times and sell thousands of products from hundreds of local and international suppliers. This has resulted in direct employment of scores of local people in their own neighbourhood. </div> <div> </div> <div> <strong><img alt="CGMART" src="/userfiles/images/focus1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 225px;" />Expansion Spree </strong></div> <div> The movement in this sector has been rather evident. KK Store, a Malaysian chain store brand now operates four stores in Kathmandu. Similarly, CG Mart, Big Mart and Stuti Mero Mart among others too have opened multiple stores and boast of expansion plans in the Kathmandu Valley as well as other parts of the country. </div> <div> </div> <div> CG Mart also plans to develop convenience stores in a franchise style. “Those who are currently operating a mini-mart or a small supermarket can brand it in our name. However, they need to follow the rules and norms set by us,” said an official. CG is planning to open 10-12 convenience stores in Kathmandu this year and intends to increase the number to more than 100 in another two years. Apart from Kathmandu, the company has aimed to open stores in Pokhara, Butwal and Biratnagar. </div> <div> </div> <div> Stuti Mero Mart, a local chain of convenience stores, has expanded its presence in Kathmandu by opening outlets in Ghattekulo, Katyayani Chowk and Sinamangal. One of the major aims of Stuti Mero Mart is to expand its presence in all 35 wards of Kathmandu Metropolitan City. “We will be opening 17 more outlets in Kathmandu district within one-and-a-half years,” a store manager said. Upon completion of the expansion process in Kathmandu, Stuti intends to venture into Lalitpur and Bhaktapur districts before penetrating markets located outside the Kathmandu Valley. </div> <div> </div> <div> Mega Mart, the operator of Big Mart stores, has firmed plans to expand its retail network by opening 11 new stores in Nepal in 2013 including stores at Sanepa, Old Baneshwor, Sinamangal, Kalanki, New Bus Park, Pepsicola and Dholahiti in Patan. A manager at Big Mart said the store expansion programme is part of the company’s strategy to expand into neighbourhood regions. “Our aim is to reach out to as many places as possible for the convenience of our customers,” he said. The company also plans to expand outside the Kathmandu Valley by opening stores in Pokhara and Biratnagar. </div> <div> </div> <div> <strong><img alt="BIGMART" src="/userfiles/images/focus2.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 225px;" />Major Players </strong></div> <div> CG Mart stores offer everyday items like groceries, toiletries, beverages, tobacco and liquor along with various customised services. Stores located in densely populated areas have been designed to fulfill the daily requirements of people residing or working nearby. Largely famous in Western countries, the company believes that the concept will be equally popular in Nepal. The company has set up its own supply chain so that they need not depend on other agencies for stock. It believes that the supply chain will also help to price the goods nominally. CG Mart opens from 7 am to 11 pm to cater to the needs of people with busy schedules. </div> <div> </div> <div> ANS Co has ventured into retail business by opening a chain of convenience stores named Stuti Mero Mart in different parts of Kathmandu. An official of the company said the main objective of the mart is to provide an impeccable shopping experience at the local level. </div> <div> </div> <div> Stuti Mero Mart outlets open from 8 am to 8 pm and boast of a collection of around 7,500 items, both domestic and imported. These items range from spices, meat and confectionaries to cosmetic items, toiletries, liquor and kitchen ware. All its outlets are spread over an area of 2,000 to 3,000 sq ft with each store hiring 8-10 local employees. All outlets of Stuti Mero Mart are also providing free home delivery service for the convenience of its customers. Stuti Mero Mart is also planning to launch an online store soon so that customers can place orders from home. </div> <div> </div> <div> Big Mart, on the other hand, maintains four stores at City Center in Kamalpokhari, Lazimpat, Shantinagar and Jhamsikhel. Big Mart plans to take its store tally to 15 by the year-end. </div> <div> </div> <div> <strong>Store Locations </strong></div> <div> Possibility and feasibility are the prime factors in determining the locations of convenience stores, said a store manager of Big Mart. CG Mart too said it chooses the location as per its plan to penetrate high-potential areas for retail business. “We plan to open stores in highly populated areas to meet daily requirements of people residing there or working nearby,” it said. </div> <div> </div> <div> CG Mart plans to open around 300 to 400 outlets across the country within the next three years. Outside the valley, CG Mart will expand in areas having high density population like Pokhara, Butwal and Biratnagar. </div> <div> </div> <div> <strong>Target Market </strong></div> <div> “We are mainly targeting new and affluent suburbs of Kathmandu,” said a manager at Mega Mart. Big Mart stores cater to the needs of people from all income groups. Besides the usual products, the store also features chicken, goat and buffalo meat. </div> <div> </div> <div> <strong>The ‘Chain’ Effect </strong></div> <div> A chain of convenience stores usually have uniform products, mostly consisting of consumables. Even though they do not command large volumes as stand alone units, the numbers start becoming significant when one combines the volume going out to all stores. This factor provides the companies leverage against suppliers, allowing them to negotiate for larger margins. Those benefits could then be passed on to the consumers. The chain stores in Kathmandu are already operating for 16 hours a day and in the future, there is scope for 24-hour stores, said industry analysts. Chain stores in Nepal could also emulate stores abroad and provide tea/ coffee, hot food and other related items that would make these stores even more convenient for consumers, they said.</div> </div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Popular convenience store chains in Kathmandu are looking to rapidly expand their business by opening new outlets.', 'sortorder' => '1425', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '1563', 'article_category_id' => '154', 'title' => 'Learning Curve News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Committee Formed to Celebrate 8th National Library Day </strong></div> <div> A main organisation committee has been formed in the chairmanship of Narayan Gopal Malego, secretary of the Ministry of Education, to celebrate the 8th National Library Day on Bhadra 15 (August 31st). Bhim Dhwoj Shrestha, chief at the Tribhuwan University’s Central Department of Library and Information Science, has been appointed as Vice-chairman of the committee. The National Library Day has been celebrated annually for the last 7 years to increase awareness about libraries. The committee has decided to celebrate this year’s library day as a weeklong celebration. </div> <div> </div> <div> <strong>BBA Programmes to have 4th Year </strong></div> <div> The Ministry of Education has directed colleges with Indian university affiliation offering BBA (Bachelor in Business Administration) programmes to extend the programme to 4 years. As the BBA programmes offered in Tribhuwan University (TU) and Kathmandu University (KU) are of 4 years, the ministry has directed colleges with Indian university affiliations to change their programmes to 4-year-programmes too. This step has been taken to maintain the equivalence among students from Nepali universities and Indian universities. </div> <div> </div> <div> <strong>PF for Community Schools’ Staff </strong></div> <div> Staffs of community colleges are now to be provided with Provident Funds (PF) and gratuity. The Ministry of Education has made ‘service laws’ according to which staffs who have served for 5-10 years will get half a month’s salary as gratuity annually. Those who have served for 10-15 years will get a month’s salary as gratuity and persons who have served for more than 15 years will get a month and a half’s worth of salary as gratuity annually. The law has been made by the Ministry of Education, guaranteeing services and facilities for community school staffs in accordance with the order of the Supreme Court. </div> <div> </div> <div> <strong>Private Schools not to Increase Staff Salary </strong></div> <div> Though the government increased the salary of government schools’ staffs this fiscal year, private schools have decided not to follow suit. According to the Education Regulation, there is a provision to increase the salary every educational year, not the fiscal year. There is a clear provision in the ‘Organisational Schools Directory’ released by the government that salaries are increased only in the start of the educational year and facilities and services too are fixed by that time. “Salaries cannot be increased in the middle of the educational year,” says chairman of PABSON, Dr Babu Ram Pokharel. </div> <div> </div> <div> <strong>A New HR Services Enterprise </strong></div> <div> <img alt="BizSupport" src="/userfiles/images/bspl.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 28px;" />A new HR service providing company named ‘Bizsupport’ has been opened with the purpose to serve the wider arena of business and economy by inspiring MBA students to pursue Human Resource Management as their career. Bizsupport is headed by a human resources management practitioner with 22 plus years experience as Head of Human Resources in various organizations like hotels, MNCs, banks etc. Bizsupport tries to deliver its services distinctively from others in terms of quality and efficiency in order to add value to business. It provides services like business process outsourcing, representation direct marketing, HR audit, recruitment executive search, training and development, competency mapping, event management, HR systems, organizational development and PMS (Performance Managanement Systems).</div> <div> </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' => 'Staffs of community colleges are now to be provided with Provident Funds (PF) and gratuity.', 'sortorder' => '1424', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '1562', 'article_category_id' => '156', 'title' => 'Mirroring The Boss In Just The Right Way', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Ray A. Smith</strong></div> <div> </div> <div> Eager to move up the corporate ladder? Take note of what the executive suite is wearing. <span style="font-size: 12px;">Conventional career wisdom holds that dressing like the boss helps advance one’s career. But sometimes the boss can be hard to emulate. Say, he’s a 6’3” male in a suit and tie and you’re a curvy 5’3” female who prefers dresses. Or maybe she loves brights and you’re more of an earth tones person. On the other hand, you don’t want your looks to be too similar— read Mini-Mi—either. The issue of taking style cues cuts across a range of industries, including ones where there is a leisure component – which can mean separate “boss” styles depending on what day of the week, or time of the day it is. </span></div> <div> </div> <div> Sarah Cruse “is not a buttoned-up kind of suit person, but there are times she needs to be,” said Marion Gellatly, founder of Powerful Presence, an image-consulting firm in Pebble Beach, Calif. Ms. Gellatly was referring to a long-standing client she has been helping dress a little more executive suite. A few months into a new job as a general manager of a hotel and golf club, Ms. Cruse worried that what she was wearing didn’t properly represent “a high-end corporation” and didn’t look managerial enough. She said she noticed the way one of her higher ups, a woman, and their joint boss, a man, dressed. </div> <div> </div> <div> “She was immaculate in her presentation, always put together,” said Ms. Cruse. “Our boss is an impeccable dresser, whether in a suit, casual jacket, or jeans and a sweater. As a representative of his operation, it was important I learned how to dress the part, while still carrying my own personality.” Ms. Gellatly and Ms. Cruse laid out a plan to shop for colorful and patterned dresses and skirts, but also, to nod to the polished look of her higher ups, neutral jackets she could wear over them, and the occasional suit. The goal was to conform, but in a way that suited her. “[Ms. Cruse] has a lively personality,” said Ms. Gellatly, a former president of the Association of Image Consultants International. “We can’t put her into a conservative suit and have that be authentic to who she is.” </div> <div> </div> <div> Lois Barth, a business and lifestyle coach, offers these tips: “It’s important to retain your own sensibility with clothing, to an extent, while still adjusting to the new boss, depending on who the “boss” is. In other words if it’s a CEO or someone who sets the vision of the company, that’s more of an issue than a middle manager, who is less about the vision and more about the day-to-day carrying out of the vision. You have more wiggle room in honoring what your clothing is with a middle manager.” If the CEO wears a suit, and you are wearing a dress shirt and pants or a dressy blouse and a skirt, “maybe there’s a middle ground of a sports jacket” or blazer, she said. “Adapting and adjusting are important, but not mimicking.” </div> <div> </div> <div> Ms. Barth says you can personalize with accessories. “Maybe there’s a cool scarf you can add to the outfit to keep it you.” If the boss is into bright colors or eclectic accessories and that’s not what you’re into, she said you can dip in rather than dive. “You can go with “alignment attire” where you’re capturing the essence of them, with an artsy tie or a pin that has some color, but not mimicking.” </div> <div> </div> <div> The most important thing is to be comfortable in the look. It shouldn’t feel forced. Find ways to adapt the boss’s style in a way that suits you. </div> <div> (blogs.wsj.com/atwork)</div> <div> </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' => 'Eager to move up the corporate ladder? Take note of what the executive suite is wearing.', 'sortorder' => '1423', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '1561', 'article_category_id' => '155', 'title' => 'MBA: Teaches Management Of Every Sector', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong><img alt="Dr Binod Kumar Khatri, the Principal at Phoenix College of Management" src="/userfiles/images/Dr%20Binod%20Kumar%20Khatri.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 175px; height: 223px;" />Dr Binod Kumar Khatri</strong> is the Principal <span style="font-size: 12px;">at Phoenix College of Management. <strong>Ashok Poudel</strong> of The Corporate talked with him about MBA and EMBA education in Nepal. <strong>Excerpts:</strong> </span></div> <div> </div> <div> <strong>What is the current status of MBA colleges in Nepal? </strong></div> <div> Various MBA programmmes have been opened in Nepal with foreign university affiliations and some running under Nepali Universities. An MBA education gives managerial skills and the demand for management skills is on the rise in Nepal. The number of MBA colleges in Nepal is subsequently increasing. This should ideally bring competition in the quality of education as well as infrastructure and facilities. </div> <div> </div> <div> <strong>How interested are students towards this subject? </strong></div> <div> Students who want to make a career in banking and the financial sector make an MBA degree their first choice. However, MBA students are in demand in other sectors too. There is a strong job guarantee for MBA students. They can also become entrepreneurs. </div> <div> </div> <div> <strong>How different is the curriculum of a Nepali University compared to a foreign university? </strong></div> <div> There is no difference in the curriculum as such. The Nepali curriculum is of international standard too but foreign universities place more emphasis on practical education. An MBA makes a person a ‘generalist’ and every MBA college focuses on the practical section rather than the theoretical. There is a misconception that students get better quality education abroad. MBA students from Nepal are capable of competing anywhere in the world. </div> <div> </div> <div> <strong>What is the difference between the EMBA and the MBA? </strong></div> <div> Both are masters’ degrees in management. A graduate student in any subject can enroll in the EMBA or the MBA programme. EMBA is a course studied to be capable of leadership in management and the business sector. It helps to build a strong base in management and entrepreneurial skills. The course was basically introduced for business people to enhance their skills. The EMBA programme is now in demand in the corporate sector. The only difference between an MBA and an EMBA programme is that EMBA is targeted to working professionals whereas MBA is for regular students. </div> <div> </div> <div> <strong>Can a graduate in any subject pursue an MBA? </strong></div> <div> The MBA programme is targeted to graduates in any subject. Perhaps it will be comparatively easy for a management graduate. EMBA students are in demand in sectors such as engineering and business. </div> <div> </div> <div> <strong>How would you explain the importance of an MBA education? </strong></div> <div> There are many fields in the world for formal and occupational education such as medical science, engineering, law and education. Students who pursue them become advocates, teachers, and doctors. But a teacher needs to operate a school, an advocate a law firm and a doctor a hospital, and for that only occupational knowledge is not enough. An MBA degree imparts students with managerial skills to accomplish running these various places of work. </div> <div> </div> <div> <strong>What suggestions would you give to students willing to enroll in an MBA programme? </strong></div> <div> An MBA programme in Nepal is less expensive but competition across borders decides which programme is better. Students should choose a college not on the basis uniforms, distance, or the fee structure but on the quality of education available. Enroll in an MBA programme if you are willing to be a manager or administrator, and not just for obtaining a degree.</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Various MBA programmmes have been opened in Nepal with foreign university affiliations and some running under Nepali Universities.', 'sortorder' => '1422', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '1560', 'article_category_id' => '146', 'title' => 'Visual Edit Issue 25', 'sub_title' => '', 'summary' => null, 'content' => '', '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' => 'Visual Edit', 'sortorder' => '1421', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '1559', 'article_category_id' => '105', 'title' => 'CEO’s Facebook', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">After he lost the job of the CEO of a bank, somebody wrote on the ex-CEO’s face book wall: This must have been worse than divorce. </span></div> <div> The CEO posted his reply: “I still have my wife with me.” -ML</div> <div> </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' => 'After he lost the job of the CEO of a bank, somebody wrote on the ex-CEO’s face book wall:', 'sortorder' => '1420', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '1558', 'article_category_id' => '105', 'title' => 'Way To Heaven', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The commodity market in Nepal crashed, but the market analysts and exchange owners did not call it a crash though many people lost a lot of money. They called it a ‘correction’. A business journalist asked one of the commodity exchange CEOs in a press conference, “How can you say whether it is a correction or a crash?” She did not get a satisfactory answer. </span></div> <div> </div> <div> Here is a simple way to explain this: Suppose a bus had a crash and three passengers died on the spot. You can say:” The bus had a correction as the three men were on the way to heaven?” </div> <div> </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' => 'The commodity market in Nepal crashed, but the market analysts and exchange owners did not call it a crash though many people lost a lot of money.', 'sortorder' => '1419', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '1557', 'article_category_id' => '144', 'title' => 'Transparency In Political Finance', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">In a commendable move, Nepali Congress has recently promised that it is ready to reveal sources of funds it collects for the coming elections. The party has announced its commitment also to accept donation through cheque. </span></div> <div> </div> <div> The announcement may have provided relief to business community. It is a common practice around the world that political parties collect funds from donation to build and sustain the organisation, to train party cadres and fight elections. Equally important fact is that the sources of such funding undeniably influence the behaviour of the funded party if it comes to power. So this issue impacts directly on democratic rights. </div> <div> </div> <div> Principally, the major share of funding should be from voluntary contribution but that is not happening in Nepal. Almost all political parties tend to amass cash by force. Forceful donation drive by political parties has become common phenomenon and has terrorized the entire business community. </div> <div> </div> <div> The recent announcement of Nepali Congress has provided strong ground to business community to bring donation issue in public domain. Other political parties should be ready to do the same. As public political institutions, political parties should be proactive to disclose their information to public and arrange for regular briefings using various information demystification channels. </div> <div> </div> <div> On the other hand, all political parties should be ready for the public audit of their income and expenditure since transparency is considered the hallmark of democracy. Political parties should pledge to introduce a law to ban anonymous donations. </div> <div> </div> <div> Against this backdrop, it is high time to address the demand for public disclosure of political finances because: 1) it helps prevent financial abuse during election, and 2) it is necessary to promote healthy political competition. </div> <div> </div> <div> We need a body akin to what was set up in the U.S. under the Federal Election Campaign Act 1974. The US agency called the Federal Election Commission supervises all financial transactions by political bodies that have solicited or spent money to support or defeat federal candidates. The organisation verifies all reports presented, and discloses the same to the public and the media. Election Commission in Nepal should be empowered to do exactly the same. </div> <div> </div> <div> Transparency in donation also helps boost morale of country’s business community that has faced many hassles to adjust their account because they were forced to provide donation in such a way that they could not keep any record of such donation. Political parties should ensure that election is not an event to terrorize business community. </div> <div> </div> <div> Nepal needs to set up a mechanism that can make for accountability on the sources and utilisation of party funds. The present opportunity and its timing can be used to promise the much-needed change since the country is ready to go for new CA election.</div> <div> </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' => 'In a commendable move, Nepali Congress has recently promised that it is ready to reveal sources of funds it collects for the coming elections.', 'sortorder' => '1418', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '1556', 'article_category_id' => '145', 'title' => 'Private Sector Demands On PDA Draft', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong style="font-size: 12px;">--By Khadk Bahadur Bisht</strong></div> <div> </div> <div> Promoters of Upper Karnali, Arun III, Tamakoshi III and lower Arun have demanded for Project Development Agreements (PDA) with the government while Foreign banks’ hesitate to invest in hydropower in the absence of government commitment. Promoters have been demanding for security from the government due to high risks associated with this sector and drafting the PDA is closely related to this. </div> <div> </div> <div> It was initially known as ‘Project Agreement’ (PA). The term was later changed to Project Development Agreement (PDA). The PDA draft was initiated after immense pressure from the developers. However, the present draft has been criticised for not being bankable. </div> <div> </div> <div> Promoters of big projects had applied for PDA in 2010 when there was no Investment Board. After the board was established, the government decided to adopt the practice, whereby the projects 500MW or above came under the responsibility of the Investment Board. </div> <div> </div> <div> Similar contracts between the government and investors are prevalent in countries like Canada and Australia. PDA is meant to .. the risks and returns between the government and the investors as neither of them can bear all of the risks alone. </div> <div> </div> <div> The Investment Board started to draft the PDA according to investment polices of foreign banks. Meanwhile, the government decided to bring even projects with capacities below 500 MW under the purview of the PDA. Ministry of Energy thus drafted a separate PDA. The risks are almost the same even in 499 MW projects. </div> <div> </div> <div> Although the objectives are similar, there are differences between the draft presented by the board and that by the Ministry of Energy. Fundamental differences are seen between the ministry’s draft two years ago and its draft today. The previous thinking was that only foreign developers needed the PDA. </div> <div> </div> <div> Policy stability is a must for hydropower projects and this is one reason why the private sector has begun to pressure the government for PDA. They fear that if the government increases the rate of VAT, the project cost will go up enormously. </div> <div> </div> <div> On the other hand, if the bank sees low possibility of pay back, it may stop releasing even the sanctioned funds, this jeopardising the project. Investors have therefore demanded that a PDA should be made mandatory for projects with capacities less than 500MW. </div> <div> </div> <div> Recently, the Independent Power Producers’ Association, Nepal (IPPAN) had reviewed the PDA draft formulated for lower capacity hydropower projects. We have been raising demands that the PDA should be in line with international standards. That is, the notion of give-and-take should be articulated well in the document. </div> <div> </div> <div> Failure of the government to issue the permission on time is one of the main reasons for delay in project implementation. The government has to approve the Environmental Impact Assessment (EIA) on time. Similarly, it has the responsibility of facilitating promoters at various levels where they face hurdles such as at the local level created by forestry users and by taxes levied on sand, stone aggregates and inland, cargo transportation, among others. </div> <div> </div> <div> There has been doubt among private investors regarding inconsistency in law and the tax structure. The government should investors from frequent changes in policy and should pledge to bear all risks if generated by such abrupt change. </div> <div> </div> <div> Force majeure provision of another point of contention. Force majeure prevails when the situation is out of control of the developer such as in case of natural calamity. But in Nepal, government action is major such situation. </div> <div> </div> <div> Similarly, we have differences on various issues including lender rights and rights on water, among others. The draft is ambiguous on such issues and we want clarity for long term investment. </div> <div> (Bisht is Vice President at Independent Power Producers’ Association, Nepal (IPPAN))</div> <div> </div>', 'published' => true, 'created' => '2013-08-05', 'modified' => '2013-08-05', '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' => 'Promoters of Upper Karnali, Arun III, Tamakoshi III and lower Arun have demanded for Project Development Agreements (PDA)', 'sortorder' => '1417', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '1555', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Koirala to Meet Indian President, PM </strong></div> <div> <img alt="Nepali Congress (NC) president Sushil Koirala" src="/userfiles/images/Sushil%20Koirala.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 115px;" />Nepali Congress (NC) president Sushil Koirala is scheduled to meet Indian President Pranab Mukherjee, Prime Minister Dr Manmohan Singh, Congress (I) president and ruling United Progressive Alliance Chairperson Sonia Gandhi, among other leaders, during his trip to India this week. Likewise, he will visit Uttar Pradesh and Bihar where he will meet the Chief Minister of these Indian states. Koirala is formally visiting India upon the invitation of Indian PM for the first time after being elected as the president of the NC. General Secretary duo- Prakashman Singh and Krishna Prashad Sitaula- and Koirala’s personal aide Laxman Dhakal are accompanying him. </div> <div> </div> <div> <strong>‘Regmi should resign from CJ post’ </strong></div> <div> Central Working Committee Member Dr Sekhar Koirala has demanded that the Chairman of the Interim Election Council, Khil Raj Regmi, resign from the post of Chief Justice (CJ). Addressing a programme in Kathmandu last Monday, Dr Koirala claimed that the agitating parties would come to dialogue if Chairman Regmi quits the CJ post. Dr Koirala holds the view that the election will not be possible until the four major political forces, the agitating parties, the government and the international forces come to a common point. </div> <div> </div> <div> <strong>NC President Sees No Alternative to Elections </strong></div> <div> Nepali Congress president Sushil Koirala said that the election was an unconditional alternative for resolving the ongoing political crisis. Speaking at a programme in Nepalgunj on Wednesday, he urged all parties to participate in the upcoming elections to the Constituent Assembly. Similarly, he also directed his party ranks and file to be mobilised in the preparation of the November 19 election. </div> <div> </div> <div> <strong>‘Slim chances of CPN-Maoist participating in the polls’ </strong></div> <div> UCPN (Maoist) leader Narayankaji Shrestha said the chances of the CPN-Maoist party participating in the Constituent Assembly poll process are very slim. Speaking at a programme in the Capital on Wednesday, Shrestha claimed that the election for November 19 would not be cancelled or postponed even if the CPN-Maoist party did not come aboard for election. “Though there is a very low chance of the agitating parties joining the election process, we wouldn’t stop trying to bring them to it,” he said.</div> <div> </div> <div> <strong>Dahal Calls President </strong></div> <div> <img alt="UCPN (Maoist) Chairperson Pushpa Kamal Dahal " src="/userfiles/images/Pushpa.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 111px;" />President Dr Ram Baran Yadav has urged the UCPN (Maoist) Chairperson Pushpa Kamal Dahal to facilitate on making the upcoming election successful by taking all parties into confidence. President Dr Yadav made such request at a meeting at his own official residence Shital Niwas with Dahal on Thursday. Personal Aide of Dahal, Shiva Khakurel, informed that the President expressed his concern about the progress on bringing the agitating parties to the election process. In response to the President’s concern, Dahal apprised him that formal and informal talks with the dissident parties were underway. </div> <div> </div> <div> <strong>Information Centers to Be Established </strong></div> <div> In a bid to provide information to the people about security during the election, Armed Police Force (APF) is establishing its Information Centers. According to the IGP of APF, Kosh Raj Wanta, information centers will be established at all five regional units of the APF to provide information about the election and security to the people in fast, easy and simple way.</div> <div> </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' => 'Nepali Congress (NC) president Sushil Koirala is scheduled to meet Indian President Pranab Mukherjee', 'sortorder' => '1416', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '1554', 'article_category_id' => '142', 'title' => 'Poll Update (5-11 August 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>EC Makes Poll Schedule Public </strong></div> <div> The Election Commission made the time-table of the Constituent Assembly election scheduled for November 19 public on Thursday. According to the time-table released by the EC, political parties will have to file the nomination of candidates for Proportional Representation System on September 23, and the EC will publish the name list of parties on September 24. Likewise, the filing of nomination of candidacy for the First-Past-the-Post (FPTP) system has been set for September 26. The final closed list of candidates of parties under the proportional system will be published on November 9 and FPTP on September 30. </div> <div> </div> <div> <strong>Uprety Appointed as CDC Member </strong></div> <div> The government appointed Prof Chudaraj Uprety as a member of the Constituency Delineation Committee on Monday. The meeting of the Council of Ministers appointed Prof Uprety in the committee as a member after Dr Madhunidhi Tiwari tendered his resignation from the post.</div> <div> </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' => 'The Election Commission made the time-table of the Constituent Assembly election scheduled for November 19 public on Thursday.', 'sortorder' => '1415', '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' => '1553', 'article_category_id' => '143', 'title' => 'Repeating Electoral Violence?', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Sagar Ghimire</span></strong></div> <div> </div> <div> As November 19, the slated date for the Constituent Assembly election draws closer, poll fever gradually grips the government, the Election Commission (EC) as well as the political parties. The EC is in full swing to make the election happen on the scheduled date. It enforced the Code of Conduct for the election and made the election time-table public too. Likewise, the government also held a meeting recently with security organs for the election to chart out a joint security strategy for the event. </div> <div> </div> <div> However, political parties have failed to do their bit. Instead of forging a conducive and congenial environment to conduct the elections peacefully, the leaders of the parties are now fomenting violence through their speeches. </div> <div> </div> <div> The unfortunate announcement from the CPN-Maoist to disrupt the election wasn’t as much a surprise as was the demand of the Nepali Congress leader and cadre to form their own ‘security squad’. </div> <div> </div> <div> Though the NC president turned down the demand raised during the party’s Training of Trainers, the demand is indicative of the deeply embedded militant mindsets of the leaders and the cadres of all big parties. </div> <div> </div> <div> The recent remark by UCPN (Maoist) Chairperson Pushpa Kamal Dahal to mobilise 1000 Young Communist League cadres in each booth in response to the CPN-Maoist plan to deploy 10 cadres is tantamount to summon violent clashes in the upcoming elections. </div> <div> </div> <div> Violence has become a part and parcel of elections in Nepal. Earlier elections in Nepal also had witnessed massive use of violence, coercion and force by the parties. </div> <div> </div> <div> Political parties forming para-military forces and mobilising young goons during election campaigns and at poll booths is an enough evidence to indicate the proclivity of our leaders towards violence. </div> <div> </div> <div> Flexing muscles, particularly during elections, to influence voters, frighten opponents and intimidate election officers does not only undermine the credibility of the election but also violates citizens’ fundamental right to vote in a free and fair manner. When leaders or parties lose their confidence to woo the people through their policy and programme, they resort to wielding violence to bring election results to their favour. </div> <div> </div> <div> The CPN-Maoist party’s threat to disrupt polls by using force; UCPN (Maoist) Chairperson Dahal’s warning to counter the CPN-Maoist attempt; NC leaders and cadres pitting the idea of forming their own ‘security squad’; and rising aggression within the CPN (UML)’s sister-wing the Youth Association Nepal from notorious dons and hoodlums paint us a familiar picture of the forthcoming election -- one marred with violence. </div> <div> </div> <div> Fraught with violence, the CA election is also likely to be a battle ground for party leaders to exploit youths for their vested political interests. </div> <div> </div> <div> Use of violence during elections gets exposed in the international front by international observers and media which ultimately becomes a matter of shame for the country. </div> <div> </div> <div> The confrontations and clashes during the election are already imminent with parties, leaders and cadres that mull the formation of youth squads to use them in bringing the election results in their favour. The Election Commission has already executed the Code of Conduct and the government has prepared mechanisms to contain violence. Yet, these fall short in front of the unruly and unholy young goons, when they are shielded and patronised by their leaders. </div> <div> </div> <div> If elections are to be held in a democratic, fair and peaceful manner, political leaders and their parties should make a sincere and honest commitment to shun violence. The government should make sure that no element that inflicts violence is spared. Political parties should value peoples’ power over violence and try not to repeat our history of electoral violence.</div> <div> </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' => 'Business Ethics: Challenges in Implementation By Sagar Ghimire Though over 100 business companies have made a commitment towards the Business Code of Conduct (CoC) which was introduced by the National Business Initiative (NBI) last week in the Capital, implementation of such a self-abiding code will not be an easy task. The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Birjung Chamber of Commerce and Industry (BCCI), Hotel Association Nepal (HAN), Nepal Gas Dealers’ Association (NGDA), and Nepal Association of Foreign Employment Agencies (NAFEA) are some of the leading business associations that have endorsed the CoC. A recently conducted survey of Kathmandu-based companies entitled ‘Ethical Business Practice in Nepal’ by NBI has found only 7 per cent of the companies following business ethics, while 41 per cent of the sample were found weak in this. Likewise, 52 per cent of the sample was found to have attempted to implement the CoC and partially following it. Jyoti Baniya, general secretary of Forum for Protection of Consumer Rights, expressed doubt regarding the sincere implementation of the CoC by the business community. “Some tangible differences in behaviour should have been discerned these past few days,” Baniya told The Corporate. “They (business houses) did not even think it necessary to place a framed copy of the CoC on their walls.” He, however, welcomes the initiative of the business community to come up with the CoC. This finding of the survey indicates that the implementation of CoC is fraught with challenges. There are doubts as to whether companies will duly follow the provisions stated in the CoC at a time when there are allegations upon some of them that they are flouting the business laws of the country.Some member companies of the associations that endorsed the CoC have come under the government’s scanner for their unscrupulous deeds. Gas dealers, transport entrepreneurs, gold merchants, are alleged of carteling, syndicates, adulteration, tax evasion and other malpractices. However, Saroj Prasad Pandey, coordinator of the CoC campaign at the NBI, claims that he was very hopeful for its implementation. “The endorsement by over 100 business associations and an overwhelming support from the government, political parties, labour unions, the media and people within a week showed that the CoC can be implemented,” he said. Pandey informed that they will soon form a joint committee comprising representatives from various business sectors to supervise and evaluate the implementation of the CoC. Although bringing the CoC is a positive step towards winning the trust of consumers, consumer right advocates, however, say that its implementation will fully depend on the will-power of business firms and the support from political parties and the government. When leaders or parties lose their confidence to woo people through their policies and programmes, they resort to wielding violence to bring the election results to their favour.', 'sortorder' => '1414', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '1552', 'article_category_id' => '140', 'title' => 'Late Kafle’s Contributions For Human Rights Lauded', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">CPN (Maoist) Vice- Chairperson Bidya Devi Bhandari praised the role of late human rights leader Prakash Kafle in human rights, social justice and democracy. </span></div> <div> </div> <div> Speaking at a programme to mark the 21st Memorial Day of the late leader, Bhandari, also a former Defense Minister, admitted that the culprit for Niranjan Basnet’s and Maina Sunuwar’s murder could not be presented in the apex court. </div> <div> During the programme, conflict victim Sabitri Shrestha was felicitated with the Prakash Human Rights Award. The prize carries a purse of NRs 50 thousand and letter of appreciation.</div> <div> </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' => 'CPN (Maoist) Vice- Chairperson Bidya Devi Bhandari praised the role of late human rights leader Prakash Kafle in human rights, social justice and democracy.', 'sortorder' => '1413', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '1551', 'article_category_id' => '140', 'title' => 'UDMF Seeks A Month-long Extension Of Voter Registration', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The United Democratic Madhesi Front has demanded that the voter registration process be extended for one more month. A meeting of the UDMF, a member of the High Level Political Committee, held in the Capital on Wednesday has sought 30 days’ extension on the voter registration process, which had ended in mid-July. </span></div> <div> </div> <div> The meeting, however, has concluded that the election of the Constituent Assembly should be held on the scheduled date of November 19. Raj Kishor Yadav, Chairperson of Madhesi Janadhikar Forum-R, informed that the meeting has demanded the registration drive to be re-opened for a month in order to give a chance to those who have not registered themselves in the voter rolls. “Since this is the election of the Constituent Assembly, there should be maximum participation but many voters have not been registered to the list due to various reasons including the inability to present citizen certificates. They should not be disenfranchised,” Yadav said. He claimed that extending the deadline for the voter registration process would not hamper the schedule of the election much.</div> <div> </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' => 'The United Democratic Madhesi Front has demanded that the voter registration process be extended for one more month.', 'sortorder' => '1412', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '1550', 'article_category_id' => '140', 'title' => 'CPN-Maoist ‘Positive’ Towards Government’s Invitation', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> The CPN-Maoist party has said it responded positively to an invitation letter from the government to sit for a dialogue with agitating parties. “We have been positive towards the government’s invitation for table talks that has not set any condition,” said CPN-Maoist spokesperson Pampha Bhusal. “We will decide whether we will sit for the talks on Wednesday, August 7 or not after discussing the matter with the agitating parties.” </div> <div> </div> <div> “The invitation letter states that the government firmly believes the country’s problems should be resolved through dialogue, discussion and consultation,” said Information and Communication Minister Madhav Paudel. The government has sent the invitation to dissident parties twice so far. </div> <div> </div> <div> Likewise, the High Level Political Committee (HLPC) formally invited the 33-party alliance twice. Not a single table talk, however, has been held thus far. The CPN-Maoist-led 33-party alliance has been demanding the cancellation of the 25-point presidential decree of March 14, the 11-point agreement, the scheduled election for November 19, Round Table Conferences, an all-party-political government, and dissolving the Khilraj Regmi led dispensation as well as the HLPC, among other demands. The party has even threatened to disrupt the election if it is held and its demands are not met.</div> <div> </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' => 'The CPN-Maoist party has said it responded positively to an invitation letter from the government to sit for a dialogue with agitating parties.', 'sortorder' => '1411', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
