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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' => '1489', 'article_category_id' => '149', 'title' => 'The Dairy Pioneers', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Shruti Sonthalia</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" width="15%"> <tbody> <tr> <td bgcolor="#FFFFFF" style="text-align: center;"> <img align="baseline" alt="Sanjit Kumar Rajbhandari Senior Manager for sales and marketing Chitwan Co-E Group" src="/userfiles/images/Sanjit%20Kumar%20Rajbhandari.jpg" style="border-width: 0px; border-style: solid; margin-left: 0px; margin-right: 0px; width: 200px; height: 230px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF" style="text-align: center;"> <div> <strong>Sanjit Kumar Rajbhandari</strong></div> <div> <em>Senior Manager</em></div> <div> <em>for sales and marketing</em></div> <div> <em>Chitwan Co-E Group</em></div> </td> </tr> </tbody> </table> <div> ‘ Rahul’ - Pure Taste of Nepal, is a powder milk brand promoted by the Chitawon Coe Group known for infrastructure development and construction business. After the successful venture of the Manakamana Cable Cars, the group has started another pioneering project - Chitawon Milk Limited - which is the only private company in Nepal to produce powdered milk - others in the market being imported products. </div> <div> </div> <div> Rahul has hit the markets with the tagline ‘Har Din Har Pal’, giving the dairy product a sense of being a basic necessity in daily life. Senior manager for sales and marketing Sanjit Kumar Rajbhandari says that the major challenge for the brand is the unavailability or scarcity of raw milk as the company has not been able to reach good capacity utilization. </div> <div> </div> <div> Factory at Chitwan, has 150 workers using fully-automatic machines. The factory has a processing capacity of 150,000 litres of milk and an output rate of 15 tonnes of milk powder per day. The factory uses German technology such as the Alpha Laval machinery and the NIRO-GEA, a multi stage spray-drying technology. The in-house lab of the factory is equipped with high-tech facilities such as Milk-San from FOSS-Denmark, a company that produces analytical instruments for quality control. </div> <div> </div> <div> Other products by Rahul apart from powder milk include ghee, skim milk powder (SMP) and dairy whitener. Since all products use milk as their basic ingredient, productivity varies given its scarcity in Nepal. Rahul, however, targets to produce 50 tonnes of ghee every month. </div> <div> </div> <div> For marketing, Rahul uses print as well as electronic media. “We also participate in events, especially family and housewife targeted events, “says Rajbhandari. The company is seen to sponsor events during the Teej festival. </div> <div> </div> <div> The products are distributed in all 75 districts in Nepal with the help of 50 dealers. The products also reach the inaccessible regions, like Solukhumbu and Jumla, through air lifting. The SMP product has been exported to Pakistan since the last two years on a regular basis. The company owns 50 percent of market segment for dairy whiteners used for tea and coffee and it sells 600 tonnes of dairy whitener according to Rajbhandari. Additionally, the consumer pack of SMP for health-conscious people is the company’s new product in the pipeline. </div> <div> </div> <div> The senior manager, explains about the two seasons of raw milk i.e. lean and flush. In lean season there is less availability of raw milk and in flush season there is excess milk supply from farmers.Because of this powder plant, milk holiday problem was solved in the country. To counter the problem of scarcity, Chitawon Milk Limited helps farmers by providing nutritious cattle feed, grass, and free health services for the cattle so that it leads to an increased production of milk.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => '‘ Rahul’ - Pure Taste of Nepal, is a powder milk brand promoted by the Chitawon Coe Group known for infrastructure development and construction business.', 'sortorder' => '1350', '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' => '1488', 'article_category_id' => '100', 'title' => 'Tourism Briefs (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><img alt="Around The World" src="/userfiles/images/Around%20the%20World%20in%20180%20Days.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 225px; height: 111px;" /><span style="font-size:14px;">Around the World in 180 Days </span></strong></div> <div> Oceania Cruises has announced its first ever Around the World in 180 Days cruise, a star-studded, port-intensive 180-day voyage aboard the 684-guest Insignia, setting sail from Miami on January 10, 2015.This extraordinary voyage visits five continents, 44 countries and 89 ports of call and will feature 11 overnight calls plus 4 two-night calls in Cape Town, South Africa, Yangon, Myanmar, Singapore, and China. Insignia’s 180-day journey begins by visiting boutique ports in the Caribbean then steers south to South America and east to Africa before heading to India, Asia, Australia, New Zealand, the South Pacific and Hawaii before returning via the Panama Canal to Miami on July 8, 2015.In addition to crossing the equator four times and sailing through all 24 time zones, the Around the World in 180 Days cruise will traverse three oceans and 10 seas, call on 45 islands and offer the chance to visit 47 UNESCO World Heritage Sites. (Traveldailynews.com) </div> <div> </div> <div> <span style="font-size:14px;"><strong>Internet Most Important Hotel Amenity: IGH </strong></span></div> <div> Poor internet connectivity is the biggest headache facing travellers today, according to a new global survey carried out by InterContinental Hotels Group (IHG). The poll of 10,000 travellers by IGH revealed that being unable to connect to the internet was identified by 40 per cent of business travellers as the main problem they face while staying at hotels, ahead of difficult transport links (26 per cent) and a noisy location (24per cent).Logging onto the internet was identified as the first thing 31 per cent of people do when they arrive in their hotel room, and for many travellers, keeping in touch with family is the most important reason for wanting to connect.The survey revealed that nearly two thirds (64 per cent) of travellers would prefer to communicate with people back home over the internet rather than on the phone. (Traveldailymedia.com) </div> <div> </div> <div> <strong><img alt="Bengaluru" src="/userfiles/images/Bengaluru%20Airport.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 101px;" /><span style="font-size:14px;">Bengaluru Airport Gets Renamed </span></strong></div> <div> The Union Cabinet of India has approved the renaming of Bengaluru International Airport. The airport will now be called as Kempegowda International Airport. The Bengaluru International Airport (BIA) is a Greenfield airport in South India which became operational in 2008.The airport is named after Hiriya Kempegowda, a ruler under the Vijaynagar Empire, who ruled most parts of Karnataka during the 16th century. (Traveldailymedia.com) </div> <div> </div> <div> </div> <div> <strong><img alt="Tanzania" src="/userfiles/images/Tanzania%20Best%20Safari%20Country.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 99px;" /><span style="font-size:14px;">Tanzania Best Safari Country </span></strong></div> <div> Tanzania was voted the best Safari country in Africa by Safaribooking. com, an online marketing resource. Tanzania, the largest country in East Africa, was the outstanding winner with a score of 4.8 out of 5, beating seven other countries in the category.Tanzania rated top in the Best Safari Country category due to many of its natural attractions such as World Heritage Sites Ngorongoro Crater and Serengeti National Park which boast having a wide variety of wildlife all year round. Tanzania is also home to Mount Kilimanjaro, the tallest free standing mountain in Africa at 19,341 feet and the exotic islands of Zanzibar, a favorite attraction for visitors. The analysis was based on 2,305 reviews from safari travelers and 756 reviews from industry experts, most of whom are reputable guidebook writers working for Lonely Planet, Rough Guides and others. (Traveldailynews.com)</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Poor internet connectivity is the biggest headache facing travellers today, according to a new global survey carried out by InterContinental Hotels Group (IHG).', 'sortorder' => '1349', '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' => '1487', 'article_category_id' => '99', 'title' => 'Ghale Wins Surya Nepal Gokarna Monthly Medal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Daman B Ghale has won the Surya Nepal Gokarna Monthly Medal played at Gokarna Golf Club on Saturday. Ghale scored five-under 67 to register victory of one stroke over Tenzing Palden who produced a score card of 4-under 68. </div> <div> </div> <div> Ang Tshiring Sherpa scored five-over 77 gross to win the best gross title. Ang Dendi Sherpa accumulated two under net 70 and finished third in the tournament. </div> <div> </div> <div> A total of 34 players took part in the tournament sponsored by Surya Nepal Pvt Ltd. President of Gokarna Golf Club Suhrid Ghimire gave away the prizes to the winners of the tournament. The tournament was played under stroke play format with full handicap. </div> <div> </div> <div> After the fifth edition, Ang Dendi Sherpa is leading the club championship leader board with 130 points. Sonam Ongdi is second with 112 points. Tendi Sherpa, Daman B Ghale, Brian Fawcett and TG Shrestha are tied at third place with 100 points. Aditi Ghimire is at seventh with 64 points. Ang Dorjee Sherpa, Rekha Ghimire and Mahesh Bikram Karki are tied at eighth place with with 60 points. </div> <div> </div> <div> There will be 10 medal rounds played till the month of October. Top 30 players will compete over two rounds for the club championship in November and December. Top three gross scorers shall also qualify for the final medal rounds.</div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Daman B Ghale has won the Surya Nepal Gokarna Monthly Medal played at Gokarna Golf Club on Saturday. Ghale scored five-under 67 to register victory of one stroke over Tenzing Palden who produced a score card of 4-under 68.', 'sortorder' => '1348', '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' => '1486', 'article_category_id' => '99', 'title' => 'Thai Airways’ Fam Trip', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Thai Airways International Public Company Limited organized a Fam Trip for the top seven travel agencies in Nepal on 7th July 2013. The 6-day trip included the exploration of “The Sanctuary of Truth, Damnern Saduak and Rose Garden, and Dinner Cruise on ‘Loy Nava’ in Pattaya and Bangkok. In addition to this, Amari Orchid Pattaya and Novotel Bangkok Ploenchit Bangkok organized the inspection of hotel.</div> <div> </div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Thai Airways International Public Company Limited organized a Fam Trip for the top seven travel agencies in Nepal on 7th July 2013.', 'sortorder' => '1347', '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' => '1485', 'article_category_id' => '99', 'title' => 'Nepal As MICE Destination Discussed', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">Nepal Tourism Board (NTB) has started negotiations with tourism associations and experts to adopt a strategy to promote Nepal as a MICE (Meeting, Incentive, Conference and Exhibition) destination. NTB held discussion with the representatives of five and four Star hotels on 15 July for the purpose. </span></div> <div> </div> <div> “Prior to this, we were solely dependent on the individual overseas tour operators to promote Nepal but we will now all be working together to penetrate new segment of a market that has great potential,” said Subash Nirola, Officiating Chief Executive Officer of NTB. NTB has asked the hotels to form a consortium so that it would be easy to explore, promote and support MICE tourism. The hotels were also requested to provide the modality for concert market and promotion plan in the focused and targeted market</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Tourism Board (NTB) has started negotiations with tourism associations and experts to adopt a strategy to promote Nepal as a MICE (Meeting, Incentive, Conference and Exhibition) destination.', 'sortorder' => '1346', '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' => '1484', 'article_category_id' => '99', 'title' => 'Niraula Appointed NTB’s Acting CEO', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/Subash%20Niraula.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 90px; height: 118px;" />Subash Niraula is appointed as the Acting Chief Executive Officer of Nepal Tourism Board by the 187th meeting of Executive Committee of the Board held on 15 July. With this, Niraula has now also become the Member Secretary of Nepal Tourism Board. Prior to this, he had been working in the capacity of Officiating Chief Executive Officer of Nepal Tourism Board. Niraula had joined Nepal Tourism Board as the Director in 1999 and was senior most Director prior to being appointed as Officiating CEO. </span></div> <div> </div> <div> Niraula said that the appointment has given him more challenge and responsibility, and he is fully determined to steer Nepal Tourism Board in a positive direction.</div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => 'Subash Niraula is appointed as the Acting Chief Executive Officer of Nepal Tourism Board by the 187th meeting of Executive Committee of the Board held on 15 July.', 'sortorder' => '1345', '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' => '1483', 'article_category_id' => '99', 'title' => 'Hogan Named Aviation Industry’s Executive Leader Of The Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 12px;">James Hogan, President and CEO of Etihad Airways, has won the Executive Leadership category at the annual Airline Strategy Awards held in London.The award was announced at a ceremony held at the Honourable Society of Lincoln’s Inn and attended by hundreds of senior airline executives from around the world. </span></div> <div> </div> <div> “I am very honoured to have been recognised by fellow leaders within the global aviation industry and this is a great accolade for all of us at Etihad Airways and our shareholders in Abu Dhabi. The Executive Leadership Award was chosen by a panel of expert judges from the aviation industry after a thorough examination of Etihad Airways’ performance in the last 12 months. In-depth analysis was conducted on the airline’s increased profitability, industry leading growth and unique new partnership strategy with other air carriers.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'James Hogan, President and CEO of Etihad Airways, has won the Executive Leadership category at the annual Airline Strategy Awards held in London.', 'sortorder' => '1344', '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' => '1482', 'article_category_id' => '99', 'title' => 'Qatar Upgrades Capacity On Istanbul Route', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 12px;">Qatar Airways has upgraded its capacity on its Istanbul - Doha route with an Airbus A330 aircraft. As of 1 July, the introduction of the new wide-body aircraft results in an increased capacity on flights to Istanbul by 166 seats per day, a nearly 50 per cent increase. All flights on the Doha – Istanbul routes will be operated with an Airbus A330, featuring a two-class configuration, including up to 24 seats in Business Class and up to 258 seats in Economy Class. The aircraft offers seatback TV screens providing passengers with interactive onboard entertainment system and a choice of more than 1000 audio and video on demand options. </span></div> <div> </div> <div> “We are absolutely delighted to introduce a wide body aircraft on our Istanbul route, which will provide our passengers extra capacity and an optimised level of service and comfort,” said Qatar Airways Chief Executive Officer Akbar Al Baker.</div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Qatar Airways has upgraded its capacity on its Istanbul - Doha route with an Airbus A330 aircraft.', 'sortorder' => '1343', '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' => '1481', 'article_category_id' => '157', 'title' => 'New Italian Show At Alfresco', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Alfresco, Italian restaurant at Soaltee Crowne Plaza has introduced a new menu. The restaurant located near the poolside is one of the popular Italian dining destinations in Kathmandu. According to Balaram Pathak, Food and Beverage Director of the Hotel, the restaurant serves authentic Italian cuisine, and the menu is changed to cater to the Italian cuisine enthusiasts. The menu of the restaurant is changed after one and a half years. </div> <div> </div> <div> Italian cuisine has Roman, Greek and Arabian influences, and is known for the use of fresh ingredients. The new menu at Alfresco flaunts delicacies from the southern Italian regions of Sicily, Sardinia and Livorno. </div> <div> </div> <div> The new menu has on it delectable starters like smoked salmon and crispy lettuce with parmesan flakes and shallow fried prawns marinated in garlic and herbs among other exotics. The choices for salads include Caesar salad, spicy mushroom salad and Panzanella, a salad with bread and tomatoes. Oven roasted pumpkin soup, smoked bacon, kernel corn and brown onion, traditional prawn, squid and Tuscan beans are the new selection of soups. </div> <div> </div> <div> For main course too, there are numerous flavorsome choices. Cannelloni, lasagna, spinach Fettuccine with seafood, risotto and others are pasta varieties on the menu. Salmon steak, tiger prawns, grilled fresh water Himalayan trout, varieties of chicken and fish preparations are other mouth-watering culinary delights. Alfresco also boasts of a fine assortment of wines to complement the food served. </div> <div> </div> <div> To wrap up the meal, Alfresco offers gelatos, tiramisu, pannacotta, melting chocolate with volcanic touch and cassata. All in all, Alfresco’s new menu covers the best Italian cuisine has to offer. Visit once to tantalize your palate. Bon Appétit!</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Alfresco, Italian restaurant at Soaltee Crowne Plaza has introduced a new menu. The restaurant located near the poolside is one of the popular Italian dining destinations in Kathmandu.', 'sortorder' => '1342', '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' => '1480', 'article_category_id' => '152', 'title' => 'Focus Briefs (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Upper Trishuli – A (216 MW) </strong></span></div> <div> Nepal Water and Energy Development Company is the developer of the 216 MW Upper Trishuli A project. The major stakeholders of the project are Korea South East Electric Company (50%), Kyeryong Construction (10%) and Nepali Investors (10%), Daelim Industrial Company (15%) and International Finance Corporation (15 %). The 216-MW Upper Trishuli-I is a mega hydropower project which requires lot of time, energy and resources to conduct environmental assessments and make other necessary preparations including financial closure. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Upper Marsyangdi (600 MW) </strong></span></div> <div> GMR Group has acquired 80 per cent stake in Himtal Hydropower Company Pvt Ltd which is developing the 600 MW Upper Marsyangdi Hydro Electric Project on the Marsyangdi River in Nepal. The plant is scheduled to be commissioned by the end of 2016. Himtal Hydro Power Company Pvt Ltd is developing ‘The Upper Marsyangdi-2 Hydroelectric Power’ project. This run-of-river type development is located in the districts of Lamjung and Manang, aiming to fully utilise the power potential of the Marsyangdi river. The proposed location of the dam – utilising a gross head of about 627.67 m – is just upstream of Tal village in Manang District, about 45 km upstream of Besisahar. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tamakoshi – III (650 MW) </strong></span></div> <div> SN Power was awarded the Survey Licenses in March 2007 by the Government of Nepal to develop the Tamakohsi 2 (207 MW) and Tamakoshi 3 (275 MW) Hydroelectric projects in the Tamakoshi River of Dolakha district. Based on a concept study results, SN Power applied for and was awarded an amended license for a single 600 MW daily peaking run-of-river project to be called the Tamakoshi 3 project. The TA 3 HEP is planned for the Tamakoshi River stretch between Singati bazaar and approximately 100 meter above Tamakoshi bridge at Kirnetar. The technical feasibility of the project has been performed in the range from 600 to 1320 MW. The Feasibility Study for this project is in the final stage of completion. Power will be evacuated at Dhalkebar. The bulk of the power is expected to be exported to India after supplying the domestic demand on a commercial basis. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Upper Karnali (900 MW) </strong></span></div> <div> A consortium comprising GMR Energy Limited, GMR Infrastructure Limited (GIL) and Italian-Thai Development Project Company signed a Memorandum of Understanding (MoU) with the Government of Nepal, for developing the 900 MW Upper Karnali Hydro electric Project, in Nepal. The project will be developed on a Build, Own, Operate and Transfer (BOOT) basis. The MoU signing successfully concluded the first ever International Competitive Bidding (ICB) process of award of large hydropower projects in Nepal, which followed a rigorous multi-layered evaluation process, lasting 12 months. The plant is scheduled to be commissioned by the end of 2016. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Arun – III (900 MW) </strong></span></div> <div> The government awarded the 900 MW Arun III Hydropower Project to the Sutlej Jal Vidyut Nigam Ltd (SJVN), India´s state-owned power producer, after the company demonstrated financial capability to bring in Rs 82.5 billion for the development of the project. Arun III is a run-of-the-river project based in Sankhuwasava district and SJVN was selected to prepare its detailed project report (DPR) and develop the project through a global bidding in 2008.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'GMR Group has acquired 80 per cent stake in Himtal Hydropower Company Pvt Ltd which is developing the 600 MW Upper Marsyangdi Hydro Electric Project on the Marsyangdi River in Nepal.', 'sortorder' => '1341', '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' => '1479', 'article_category_id' => '153', 'title' => 'Hydropower Developers Pursue Favourable PDA', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The hydropower promoters of the private sector have designed a template for the Project Development Agreement (PDA) and handed it over to the government. They have said that this draft reflects their concerns. Earlier, the Ministry of Energy had prepared a PDA template a year ago, meant for hydropower projects of below 500 MW capacity. The private sector wants that revised. </div> <div> </div> <div> “We have submitted a PDA draft by incorporating the concerns of the private sector,” said Dr Subarna Das Shrestha, President of Independent Power Producers’ Association, Nepal (IPPAN). He added, “We hope that the government will incorporate the suggestions of the private sector while finalising the PDA template it is developing on its own.” </div> <div> </div> <div> Bishwa Prakash Pandit, Secretary at the Ministry of Energy (MoE), while receiving the PDA draft prepared by IPPAN, said, “The PDA draft will be finalised bearing in mind the concerns of the hydropower promoters and national interest.” He further added that the PDA draft will be developed in a manner which will be helpful to attract foreign investment. </div> <div> </div> <div> Meanwhile, the Investment Board (IB) Nepal said a PDA template is being worked out which will have provisions requiring the hydropower promoters to pay compensation for failing to meet project deadline. The provisions in the PDA template will also require hydropower promoters to give due attention to environmental concerns and provide employment to locals among other things. </div> <div> </div> <div> <strong>Negotiations with Hydropower Developers </strong></div> <div> While the MoE plans to start PDA negotiations with hydropower developers building projects below 500 MW, the IB has been conducting PDA negotiations with three foreign power developers. Even though the MoE had made a PDA draft for hydropower projects below 500 MW and tried to start negotiations with the concerned hydropower developers, the process was stalled after most of the developers expressed reservations over the PDA draft. The developers had then said that it was not a sound proposition technically as well as financially. </div> <div> </div> <div> Earlier, two separate PDA templates were prepared to hold negotiations with hydropower developers — one made by the MoE for hydropower projects below 500 MW and the other made by the IB for projects above 500 MW capacity. However, the MoE was instructed to use the PDA template formulated by the IB. The MoE then started to prepare the same PDA template for hydropower projects below 500 MW capacity, confirmed Keshav Dhoj Adhikary, Head of the PDA negotiation committee at the MoE. The PDA negotiation committee formed by the MoE comprises representatives from the Finance Ministry, Ministry of Law and the Nepal Electricity Authority (NEA). </div> <div> </div> <div> <strong>Six Applicants of Below 500 MW</strong></div> <div> As of the third week of March this year, a total of six hydropower projects with a collective capacity of 1,130 MW had applied to the Department of Electricity Development (DoED) for the PDA. The six projects are namely Middle Bhote Koshi – I (40 MW), Upper Marsyangdi – A (50 MW), Kali Gandaki Gorge (164 MW), Upper Trishuli – A (216 MW), Budhi Gandaki – II (260 MW) and Lower Arun (400 MW). </div> <div> </div> <div> Of the six PDA applicants, Upper Trishuli – A is the first to pay the PDA fee while submitting the required documents. As per the PDA Procedure 2013, hydropower developers have to pay US$ 1,500 per MW as processing fee to sign the PDA. If the government refuses to sign the agreement even after the payment of the fee, the amount has to be refunded. </div> <div> </div> <div> The PDA is a vital contract between the government and the investors. The government assures the investors, through the agreement, that it would avert all possible social, economic and policy-level uncertainties during the construction phase of projects. Generally, issues related to taxes, licence period, free energy, royalty, repatriation rights and parties’ obligations are included in the PDA. </div> <div> </div> <div> <strong>PDA for Big Hydro Projects </strong></div> <div> The secretariat of the Investment Board expedited finalisation of the PDAs for four mega-hydropower projects earlier this year. It was expected to provide a much needed impetus to enable negotiations on four priority projects that have a combined capacity to produce 3000 MW of electricity. The four mega hydro projects are namely Upper Marsyangdi (600 MW), Tamakoshi – III (650 MW), Upper Karnali (900 MW) and Arun – III (900 MW). </div> <div> </div> <div> NIB, which was established more than a year ago to expedite the implementation of mega-projects including hydropower (above 500 MW) in a fast-track mode, is developing a PDA template with the help of Herbert Smith, a legal advisor based in London. </div> <div> </div> <div> <strong>Uniform PDA for All Projects </strong></div> <div> As stated earlier, there were two separate PDA templates made by the MoE and the IB to hold negotiations respectively with hydropower developers of below 500 MW and for projects above 500 MW capacity. However, the government later decided to have a uniform PDA template while negotiating with the foreign companies developing hydro power projects of all capacities. </div> <div> </div> <div> With this decision taken earlier this year, the IB and the MoE planned to negotiate with foreign developers on the basis of a single PDA model. The MoE then said that it will negotiate with foreign developers of less than 500 MW capacity on the basis of the PDA template prepared by the IB. As per the IB Act, hydropower plants with a capacity of 500 MW and above came under the board’s purview. </div> <div> </div> <div> The ministry said a uniform PDA model was to be brought into effect to prevent any confusion and prejudice while dealing with the various power developers. It concluded that since both the MoE and the IB were dealing with foreign hydro power developers, there was no need for two different models of PDA. It led the MoE to form a committee to synchronise the two PDA templates and begin negotiations with developers which meet the criteria. </div> <div> </div> <div> It further clarified that despite the PDA template being the same, there might be separate provisions for different projects based on their respective capacity, volume of investment and number of beneficiaries. </div> <div> </div> <div> It must be noted that after the formation of the IB over one-and-a-half years ago, the government entrusted it with developing large hydropower projects above 500 MW while the MoE was assigned hydropower projects of less than 500 MW capacity. </div> <div> </div> <div> Experts said that Nepal has an opportunity to bring in US$ 6 billion in foreign direct investment, create new opportunities for Nepali businesses and the Nepali labour force. Taking concrete steps to unlock the country’s vast hydro potential and solve the load shedding problem is expected to address Nepal’s biggest obstacle to investment, business development and economic growth.</div> <div> </div> <div> <img alt="List of Issued Survey Licenses (Above 200 MW)" src="/userfiles/images/survey%20license.jpg" style="width: 600px; height: 365px;" /></div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => 'Private sector hydropower promoters have suggested the government to develop a Project Development Agreement (PDA) template that is acceptable to banks, meets international standards and is immune to changes in the law.', 'sortorder' => '1340', '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' => '1478', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Special Meeting Okays RBB Share Conversion </strong></span></div> <div> The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares. With the conversion, RBB’s paid-up capital has reached Rs 8.58 billion. </div> <div> </div> <div> The SGM approved the capital restructuring through an amendment to the bank’s MoA and AoA as proposed by RBB Chairman Narahari Dhakal. After this, the bank’s capital adequacy ratio stands at 3 percent for the first time as of mid-July, which is still far below the minimum requirement of 10% set by Nepal Rastra Bank. The bank had planned to increase its core capital to Rs 8.5 billion in its capital plan which has now been attained. The government had earlier injected Rs 4.32 billion in the bank to increase its paid-up capital. </div> <div> </div> <div> The bank had received the Nepal Rastra Bank (NRB) approval for its three-year capital plan in mid-April last year. However, the bank’s proposed Rs 12.5 billion capital plan will not be enough to meet capital adequacy which require Rs 14 billion. Earlier, the government had directed RBB and NIDC Development Bank to merge in order to manage the necessary capital. However, the merger has not taken place particularly due to NIDC’s reluctance. </div> <div> </div> <div> Announcing the government budget for the fiscal year 2013-14, the Finance Minister has announced a plan to upgrade NIDC Development bank to an Infrastructure Development Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NLG Shares Listed </strong></span></div> <div> NLG Insurance Company Limited and Nepse signed an agreement on July 9 to list 2,250,000 units of ordinary shares of NLG. Trading in those shares in the secondary market started on 16 July 2013. These shares were issued as IPO in 29 March 2013.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares.', 'sortorder' => '1339', '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' => '1477', 'article_category_id' => '109', 'title' => 'Bullish Start To New Fiscal Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week). The Nepse index dropped by 8.97 points on Tuesday, 16th July closing at 509.36 but again regained and reached 521.60 at the close of Thursday, 18th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the hydro-power sub-index increased the highest by 47.84 points closing at 1113.12 points with an increase in share price of Chilime Hydropower by Rs 50 per share during the week. That was followed by the insurance companies sub-index which increased by 38.22 points. The ‘others’ sub-index dropped by 23.49 points closing at 646.19. The share price of Nepal Telecom dropped to Rs 539 per share on July 17 (Wednesday) which forced the sub-index to drop heavily from high of Rs 596 on July 15. </div> <div> </div> <div> Similarly, NIC Asia Bank topped in price increment during the week. The share price of the bank closed at Rs 669 with an increase of Rs 60 per share, followed by share price of Everest Bank (increased by Rs 59 per share) which also helped to boost the commercial bank sub-index. </div> <div> </div> <div> Shares of 120 companies were traded at Nepse during the week through 4,225 transactions amounting to Rs 393,575,000. The share price of 70 companies increased while 27 companies lost price and 23 companies remained unchanged. The transaction amount of the week is 11.89 percent higher than that of earlier week. The total number of scrips traded was1, 269,584 which is less by 550,407 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 279,371,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 2,408,732 scrips of the fund were traded during the week. </div> <div> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (3339). </div> <div> </div> <div> Similarly, a total of 200,000 bonus shares of Excel Development Bank were listed during the week.</div> <div> </div> <div> <img alt="Bullish Start" src="/userfiles/images/Bullish%20Start.jpg" style="width: 600px; height: 172px;" /></div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 535.72 points on Sunday (July 21). The index increased by 14.19 points from the Thursday (July 18) close. All sector sub-indices saw an increment during the day. Insurance sub-index had the highest increment by 36.38 points, closing at 992.96 points. A total of 533,233 shares was traded from 1621 transactions during a day. Market operation were suspended for 15 minutes due to heavy buying pressure.</div> <div> </div> </div> <p> </p>', 'published' => true, 'created' => '2013-07-23', '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' => 'Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week).', 'sortorder' => '1338', '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' => '1476', 'article_category_id' => '109', 'title' => 'Nepse Yearly Review', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> The stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent. </div> <div> </div> <div> The benchmark index had reached the highest on February 17, 2013 at 555.93 points, while the lowest record for the fiscal year was on July 16, 2012 (the opening day) at 384.92 points. The index crossed 500 points on November 20, 2012 closing at 501.52 points. This was the first time the benchmark index had crossed the 500-point mark in over two-and-half years. </div> <div> </div> <div> Compared to the turnover of Rs 10,162 billion of preceding fiscal year 2011-12, this year the turnover rose by a hefty 98.12% to stand at Rs 20,133 billion. Similarly, the listing and transactions of new commercial banks like Civil Bank and Commerce and Trust Bank and other companies, as well as relisting and transaction of Nepal Bank Limited helped market capitalization make a huge leap of 39.71% to stand at Rs 514,492.13 million on the close compared to Rs 368,262.13 million in the last fiscal. </div> <div> </div> <div> At the beginning of the last fiscal year, the one-third budget brought through ordinance by the then government failed to create any positive impact in the market. But the Nepal Rastra Bank’s approval to banks and financial institutions margin lending and loan against purchase receipt of shares eased liquidity in the market helping the share prices to go up. </div> <div> </div> <div> Likewise, introduction of mutual fund guideline by the Securities Board of Nepal (SEBON) paved the way for the launching of Siddhartha Growth Mutual Fund-I worth Rs 500 million and Nabil Balanced Fund-I worth Rs 750 million which created a positive impact in the market. </div> <div> On the other hand, delay in the implementation of Central Depository System (CDS) has failed to live up to the high expectations that the investors had. </div> <div> </div> <div> The consensus among political parties to form a government led by Chief Justice Khil Raj Regmi brought new rhythm in the market. The announcement resulted in the third highest turnover worth Rs 238 million on February 12, 2013, forcing a 5% circuit breaker on February 17, 2013, after nine months gap at Nepse floor. The Nepse index that day touched the highest point of the year closing at 545.72 points. </div> <div> </div> <div> Again, the provision allowing offloading of promoters share directly through secondary market, technical glitches in the Nepse website and broker terminals and increase in the number of broker suspensions for their failure to pay the dues affected the market negatively causing a drop on the Nepse index to 490.53 points. </div> <div> Meanwhile, listing and transaction of merged companies like Global IME Bank, NIC Asia Bank and others also played a part in turning the market on. </div> <div> </div> <div> Appointment of a new General Manager at Nepse at the end of the fiscal year has created a positive vibe among investors, raising hopes that long stalled projects and programmes would now be implemented.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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 stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent.', 'sortorder' => '1337', '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' => '1475', 'article_category_id' => '113', 'title' => 'US Dollar Exchange Rate At Local Market (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="Us Dollar Exchange Rate at local Market" src="/userfiles/images/us%20dollar%20exchange%20rate.jpg" style="width: 600px; height: 359px;" /></p>', 'published' => true, 'created' => '2013-07-22', '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' => 'US Dollar Exchange Rate At Local Market (15-21 July 2013)', 'sortorder' => '1336', '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
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After the successful venture of the Manakamana Cable Cars, the group has started another pioneering project - Chitawon Milk Limited - which is the only private company in Nepal to produce powdered milk - others in the market being imported products. </div> <div> </div> <div> Rahul has hit the markets with the tagline ‘Har Din Har Pal’, giving the dairy product a sense of being a basic necessity in daily life. Senior manager for sales and marketing Sanjit Kumar Rajbhandari says that the major challenge for the brand is the unavailability or scarcity of raw milk as the company has not been able to reach good capacity utilization. </div> <div> </div> <div> Factory at Chitwan, has 150 workers using fully-automatic machines. The factory has a processing capacity of 150,000 litres of milk and an output rate of 15 tonnes of milk powder per day. The factory uses German technology such as the Alpha Laval machinery and the NIRO-GEA, a multi stage spray-drying technology. The in-house lab of the factory is equipped with high-tech facilities such as Milk-San from FOSS-Denmark, a company that produces analytical instruments for quality control. </div> <div> </div> <div> Other products by Rahul apart from powder milk include ghee, skim milk powder (SMP) and dairy whitener. Since all products use milk as their basic ingredient, productivity varies given its scarcity in Nepal. Rahul, however, targets to produce 50 tonnes of ghee every month. </div> <div> </div> <div> For marketing, Rahul uses print as well as electronic media. “We also participate in events, especially family and housewife targeted events, “says Rajbhandari. The company is seen to sponsor events during the Teej festival. </div> <div> </div> <div> The products are distributed in all 75 districts in Nepal with the help of 50 dealers. The products also reach the inaccessible regions, like Solukhumbu and Jumla, through air lifting. The SMP product has been exported to Pakistan since the last two years on a regular basis. The company owns 50 percent of market segment for dairy whiteners used for tea and coffee and it sells 600 tonnes of dairy whitener according to Rajbhandari. Additionally, the consumer pack of SMP for health-conscious people is the company’s new product in the pipeline. </div> <div> </div> <div> The senior manager, explains about the two seasons of raw milk i.e. lean and flush. In lean season there is less availability of raw milk and in flush season there is excess milk supply from farmers.Because of this powder plant, milk holiday problem was solved in the country. To counter the problem of scarcity, Chitawon Milk Limited helps farmers by providing nutritious cattle feed, grass, and free health services for the cattle so that it leads to an increased production of milk.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => '‘ Rahul’ - Pure Taste of Nepal, is a powder milk brand promoted by the Chitawon Coe Group known for infrastructure development and construction business.', 'sortorder' => '1350', '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' => '1488', 'article_category_id' => '100', 'title' => 'Tourism Briefs (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><img alt="Around The World" src="/userfiles/images/Around%20the%20World%20in%20180%20Days.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 225px; height: 111px;" /><span style="font-size:14px;">Around the World in 180 Days </span></strong></div> <div> Oceania Cruises has announced its first ever Around the World in 180 Days cruise, a star-studded, port-intensive 180-day voyage aboard the 684-guest Insignia, setting sail from Miami on January 10, 2015.This extraordinary voyage visits five continents, 44 countries and 89 ports of call and will feature 11 overnight calls plus 4 two-night calls in Cape Town, South Africa, Yangon, Myanmar, Singapore, and China. Insignia’s 180-day journey begins by visiting boutique ports in the Caribbean then steers south to South America and east to Africa before heading to India, Asia, Australia, New Zealand, the South Pacific and Hawaii before returning via the Panama Canal to Miami on July 8, 2015.In addition to crossing the equator four times and sailing through all 24 time zones, the Around the World in 180 Days cruise will traverse three oceans and 10 seas, call on 45 islands and offer the chance to visit 47 UNESCO World Heritage Sites. (Traveldailynews.com) </div> <div> </div> <div> <span style="font-size:14px;"><strong>Internet Most Important Hotel Amenity: IGH </strong></span></div> <div> Poor internet connectivity is the biggest headache facing travellers today, according to a new global survey carried out by InterContinental Hotels Group (IHG). The poll of 10,000 travellers by IGH revealed that being unable to connect to the internet was identified by 40 per cent of business travellers as the main problem they face while staying at hotels, ahead of difficult transport links (26 per cent) and a noisy location (24per cent).Logging onto the internet was identified as the first thing 31 per cent of people do when they arrive in their hotel room, and for many travellers, keeping in touch with family is the most important reason for wanting to connect.The survey revealed that nearly two thirds (64 per cent) of travellers would prefer to communicate with people back home over the internet rather than on the phone. (Traveldailymedia.com) </div> <div> </div> <div> <strong><img alt="Bengaluru" src="/userfiles/images/Bengaluru%20Airport.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 101px;" /><span style="font-size:14px;">Bengaluru Airport Gets Renamed </span></strong></div> <div> The Union Cabinet of India has approved the renaming of Bengaluru International Airport. The airport will now be called as Kempegowda International Airport. The Bengaluru International Airport (BIA) is a Greenfield airport in South India which became operational in 2008.The airport is named after Hiriya Kempegowda, a ruler under the Vijaynagar Empire, who ruled most parts of Karnataka during the 16th century. (Traveldailymedia.com) </div> <div> </div> <div> </div> <div> <strong><img alt="Tanzania" src="/userfiles/images/Tanzania%20Best%20Safari%20Country.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 99px;" /><span style="font-size:14px;">Tanzania Best Safari Country </span></strong></div> <div> Tanzania was voted the best Safari country in Africa by Safaribooking. com, an online marketing resource. Tanzania, the largest country in East Africa, was the outstanding winner with a score of 4.8 out of 5, beating seven other countries in the category.Tanzania rated top in the Best Safari Country category due to many of its natural attractions such as World Heritage Sites Ngorongoro Crater and Serengeti National Park which boast having a wide variety of wildlife all year round. Tanzania is also home to Mount Kilimanjaro, the tallest free standing mountain in Africa at 19,341 feet and the exotic islands of Zanzibar, a favorite attraction for visitors. The analysis was based on 2,305 reviews from safari travelers and 756 reviews from industry experts, most of whom are reputable guidebook writers working for Lonely Planet, Rough Guides and others. (Traveldailynews.com)</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Poor internet connectivity is the biggest headache facing travellers today, according to a new global survey carried out by InterContinental Hotels Group (IHG).', 'sortorder' => '1349', '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' => '1487', 'article_category_id' => '99', 'title' => 'Ghale Wins Surya Nepal Gokarna Monthly Medal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Daman B Ghale has won the Surya Nepal Gokarna Monthly Medal played at Gokarna Golf Club on Saturday. Ghale scored five-under 67 to register victory of one stroke over Tenzing Palden who produced a score card of 4-under 68. </div> <div> </div> <div> Ang Tshiring Sherpa scored five-over 77 gross to win the best gross title. Ang Dendi Sherpa accumulated two under net 70 and finished third in the tournament. </div> <div> </div> <div> A total of 34 players took part in the tournament sponsored by Surya Nepal Pvt Ltd. President of Gokarna Golf Club Suhrid Ghimire gave away the prizes to the winners of the tournament. The tournament was played under stroke play format with full handicap. </div> <div> </div> <div> After the fifth edition, Ang Dendi Sherpa is leading the club championship leader board with 130 points. Sonam Ongdi is second with 112 points. Tendi Sherpa, Daman B Ghale, Brian Fawcett and TG Shrestha are tied at third place with 100 points. Aditi Ghimire is at seventh with 64 points. Ang Dorjee Sherpa, Rekha Ghimire and Mahesh Bikram Karki are tied at eighth place with with 60 points. </div> <div> </div> <div> There will be 10 medal rounds played till the month of October. Top 30 players will compete over two rounds for the club championship in November and December. Top three gross scorers shall also qualify for the final medal rounds.</div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Daman B Ghale has won the Surya Nepal Gokarna Monthly Medal played at Gokarna Golf Club on Saturday. Ghale scored five-under 67 to register victory of one stroke over Tenzing Palden who produced a score card of 4-under 68.', 'sortorder' => '1348', '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' => '1486', 'article_category_id' => '99', 'title' => 'Thai Airways’ Fam Trip', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Thai Airways International Public Company Limited organized a Fam Trip for the top seven travel agencies in Nepal on 7th July 2013. The 6-day trip included the exploration of “The Sanctuary of Truth, Damnern Saduak and Rose Garden, and Dinner Cruise on ‘Loy Nava’ in Pattaya and Bangkok. In addition to this, Amari Orchid Pattaya and Novotel Bangkok Ploenchit Bangkok organized the inspection of hotel.</div> <div> </div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Thai Airways International Public Company Limited organized a Fam Trip for the top seven travel agencies in Nepal on 7th July 2013.', 'sortorder' => '1347', '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' => '1485', 'article_category_id' => '99', 'title' => 'Nepal As MICE Destination Discussed', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">Nepal Tourism Board (NTB) has started negotiations with tourism associations and experts to adopt a strategy to promote Nepal as a MICE (Meeting, Incentive, Conference and Exhibition) destination. NTB held discussion with the representatives of five and four Star hotels on 15 July for the purpose. </span></div> <div> </div> <div> “Prior to this, we were solely dependent on the individual overseas tour operators to promote Nepal but we will now all be working together to penetrate new segment of a market that has great potential,” said Subash Nirola, Officiating Chief Executive Officer of NTB. NTB has asked the hotels to form a consortium so that it would be easy to explore, promote and support MICE tourism. The hotels were also requested to provide the modality for concert market and promotion plan in the focused and targeted market</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Tourism Board (NTB) has started negotiations with tourism associations and experts to adopt a strategy to promote Nepal as a MICE (Meeting, Incentive, Conference and Exhibition) destination.', 'sortorder' => '1346', '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' => '1484', 'article_category_id' => '99', 'title' => 'Niraula Appointed NTB’s Acting CEO', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/Subash%20Niraula.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 90px; height: 118px;" />Subash Niraula is appointed as the Acting Chief Executive Officer of Nepal Tourism Board by the 187th meeting of Executive Committee of the Board held on 15 July. With this, Niraula has now also become the Member Secretary of Nepal Tourism Board. Prior to this, he had been working in the capacity of Officiating Chief Executive Officer of Nepal Tourism Board. Niraula had joined Nepal Tourism Board as the Director in 1999 and was senior most Director prior to being appointed as Officiating CEO. </span></div> <div> </div> <div> Niraula said that the appointment has given him more challenge and responsibility, and he is fully determined to steer Nepal Tourism Board in a positive direction.</div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => 'Subash Niraula is appointed as the Acting Chief Executive Officer of Nepal Tourism Board by the 187th meeting of Executive Committee of the Board held on 15 July.', 'sortorder' => '1345', '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' => '1483', 'article_category_id' => '99', 'title' => 'Hogan Named Aviation Industry’s Executive Leader Of The Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 12px;">James Hogan, President and CEO of Etihad Airways, has won the Executive Leadership category at the annual Airline Strategy Awards held in London.The award was announced at a ceremony held at the Honourable Society of Lincoln’s Inn and attended by hundreds of senior airline executives from around the world. </span></div> <div> </div> <div> “I am very honoured to have been recognised by fellow leaders within the global aviation industry and this is a great accolade for all of us at Etihad Airways and our shareholders in Abu Dhabi. The Executive Leadership Award was chosen by a panel of expert judges from the aviation industry after a thorough examination of Etihad Airways’ performance in the last 12 months. In-depth analysis was conducted on the airline’s increased profitability, industry leading growth and unique new partnership strategy with other air carriers.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'James Hogan, President and CEO of Etihad Airways, has won the Executive Leadership category at the annual Airline Strategy Awards held in London.', 'sortorder' => '1344', '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' => '1482', 'article_category_id' => '99', 'title' => 'Qatar Upgrades Capacity On Istanbul Route', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 12px;">Qatar Airways has upgraded its capacity on its Istanbul - Doha route with an Airbus A330 aircraft. As of 1 July, the introduction of the new wide-body aircraft results in an increased capacity on flights to Istanbul by 166 seats per day, a nearly 50 per cent increase. All flights on the Doha – Istanbul routes will be operated with an Airbus A330, featuring a two-class configuration, including up to 24 seats in Business Class and up to 258 seats in Economy Class. The aircraft offers seatback TV screens providing passengers with interactive onboard entertainment system and a choice of more than 1000 audio and video on demand options. </span></div> <div> </div> <div> “We are absolutely delighted to introduce a wide body aircraft on our Istanbul route, which will provide our passengers extra capacity and an optimised level of service and comfort,” said Qatar Airways Chief Executive Officer Akbar Al Baker.</div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Qatar Airways has upgraded its capacity on its Istanbul - Doha route with an Airbus A330 aircraft.', 'sortorder' => '1343', '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' => '1481', 'article_category_id' => '157', 'title' => 'New Italian Show At Alfresco', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Alfresco, Italian restaurant at Soaltee Crowne Plaza has introduced a new menu. The restaurant located near the poolside is one of the popular Italian dining destinations in Kathmandu. According to Balaram Pathak, Food and Beverage Director of the Hotel, the restaurant serves authentic Italian cuisine, and the menu is changed to cater to the Italian cuisine enthusiasts. The menu of the restaurant is changed after one and a half years. </div> <div> </div> <div> Italian cuisine has Roman, Greek and Arabian influences, and is known for the use of fresh ingredients. The new menu at Alfresco flaunts delicacies from the southern Italian regions of Sicily, Sardinia and Livorno. </div> <div> </div> <div> The new menu has on it delectable starters like smoked salmon and crispy lettuce with parmesan flakes and shallow fried prawns marinated in garlic and herbs among other exotics. The choices for salads include Caesar salad, spicy mushroom salad and Panzanella, a salad with bread and tomatoes. Oven roasted pumpkin soup, smoked bacon, kernel corn and brown onion, traditional prawn, squid and Tuscan beans are the new selection of soups. </div> <div> </div> <div> For main course too, there are numerous flavorsome choices. Cannelloni, lasagna, spinach Fettuccine with seafood, risotto and others are pasta varieties on the menu. Salmon steak, tiger prawns, grilled fresh water Himalayan trout, varieties of chicken and fish preparations are other mouth-watering culinary delights. Alfresco also boasts of a fine assortment of wines to complement the food served. </div> <div> </div> <div> To wrap up the meal, Alfresco offers gelatos, tiramisu, pannacotta, melting chocolate with volcanic touch and cassata. All in all, Alfresco’s new menu covers the best Italian cuisine has to offer. Visit once to tantalize your palate. Bon Appétit!</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Alfresco, Italian restaurant at Soaltee Crowne Plaza has introduced a new menu. The restaurant located near the poolside is one of the popular Italian dining destinations in Kathmandu.', 'sortorder' => '1342', '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' => '1480', 'article_category_id' => '152', 'title' => 'Focus Briefs (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Upper Trishuli – A (216 MW) </strong></span></div> <div> Nepal Water and Energy Development Company is the developer of the 216 MW Upper Trishuli A project. The major stakeholders of the project are Korea South East Electric Company (50%), Kyeryong Construction (10%) and Nepali Investors (10%), Daelim Industrial Company (15%) and International Finance Corporation (15 %). The 216-MW Upper Trishuli-I is a mega hydropower project which requires lot of time, energy and resources to conduct environmental assessments and make other necessary preparations including financial closure. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Upper Marsyangdi (600 MW) </strong></span></div> <div> GMR Group has acquired 80 per cent stake in Himtal Hydropower Company Pvt Ltd which is developing the 600 MW Upper Marsyangdi Hydro Electric Project on the Marsyangdi River in Nepal. The plant is scheduled to be commissioned by the end of 2016. Himtal Hydro Power Company Pvt Ltd is developing ‘The Upper Marsyangdi-2 Hydroelectric Power’ project. This run-of-river type development is located in the districts of Lamjung and Manang, aiming to fully utilise the power potential of the Marsyangdi river. The proposed location of the dam – utilising a gross head of about 627.67 m – is just upstream of Tal village in Manang District, about 45 km upstream of Besisahar. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tamakoshi – III (650 MW) </strong></span></div> <div> SN Power was awarded the Survey Licenses in March 2007 by the Government of Nepal to develop the Tamakohsi 2 (207 MW) and Tamakoshi 3 (275 MW) Hydroelectric projects in the Tamakoshi River of Dolakha district. Based on a concept study results, SN Power applied for and was awarded an amended license for a single 600 MW daily peaking run-of-river project to be called the Tamakoshi 3 project. The TA 3 HEP is planned for the Tamakoshi River stretch between Singati bazaar and approximately 100 meter above Tamakoshi bridge at Kirnetar. The technical feasibility of the project has been performed in the range from 600 to 1320 MW. The Feasibility Study for this project is in the final stage of completion. Power will be evacuated at Dhalkebar. The bulk of the power is expected to be exported to India after supplying the domestic demand on a commercial basis. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Upper Karnali (900 MW) </strong></span></div> <div> A consortium comprising GMR Energy Limited, GMR Infrastructure Limited (GIL) and Italian-Thai Development Project Company signed a Memorandum of Understanding (MoU) with the Government of Nepal, for developing the 900 MW Upper Karnali Hydro electric Project, in Nepal. The project will be developed on a Build, Own, Operate and Transfer (BOOT) basis. The MoU signing successfully concluded the first ever International Competitive Bidding (ICB) process of award of large hydropower projects in Nepal, which followed a rigorous multi-layered evaluation process, lasting 12 months. The plant is scheduled to be commissioned by the end of 2016. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Arun – III (900 MW) </strong></span></div> <div> The government awarded the 900 MW Arun III Hydropower Project to the Sutlej Jal Vidyut Nigam Ltd (SJVN), India´s state-owned power producer, after the company demonstrated financial capability to bring in Rs 82.5 billion for the development of the project. Arun III is a run-of-the-river project based in Sankhuwasava district and SJVN was selected to prepare its detailed project report (DPR) and develop the project through a global bidding in 2008.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'GMR Group has acquired 80 per cent stake in Himtal Hydropower Company Pvt Ltd which is developing the 600 MW Upper Marsyangdi Hydro Electric Project on the Marsyangdi River in Nepal.', 'sortorder' => '1341', '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' => '1479', 'article_category_id' => '153', 'title' => 'Hydropower Developers Pursue Favourable PDA', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The hydropower promoters of the private sector have designed a template for the Project Development Agreement (PDA) and handed it over to the government. They have said that this draft reflects their concerns. Earlier, the Ministry of Energy had prepared a PDA template a year ago, meant for hydropower projects of below 500 MW capacity. The private sector wants that revised. </div> <div> </div> <div> “We have submitted a PDA draft by incorporating the concerns of the private sector,” said Dr Subarna Das Shrestha, President of Independent Power Producers’ Association, Nepal (IPPAN). He added, “We hope that the government will incorporate the suggestions of the private sector while finalising the PDA template it is developing on its own.” </div> <div> </div> <div> Bishwa Prakash Pandit, Secretary at the Ministry of Energy (MoE), while receiving the PDA draft prepared by IPPAN, said, “The PDA draft will be finalised bearing in mind the concerns of the hydropower promoters and national interest.” He further added that the PDA draft will be developed in a manner which will be helpful to attract foreign investment. </div> <div> </div> <div> Meanwhile, the Investment Board (IB) Nepal said a PDA template is being worked out which will have provisions requiring the hydropower promoters to pay compensation for failing to meet project deadline. The provisions in the PDA template will also require hydropower promoters to give due attention to environmental concerns and provide employment to locals among other things. </div> <div> </div> <div> <strong>Negotiations with Hydropower Developers </strong></div> <div> While the MoE plans to start PDA negotiations with hydropower developers building projects below 500 MW, the IB has been conducting PDA negotiations with three foreign power developers. Even though the MoE had made a PDA draft for hydropower projects below 500 MW and tried to start negotiations with the concerned hydropower developers, the process was stalled after most of the developers expressed reservations over the PDA draft. The developers had then said that it was not a sound proposition technically as well as financially. </div> <div> </div> <div> Earlier, two separate PDA templates were prepared to hold negotiations with hydropower developers — one made by the MoE for hydropower projects below 500 MW and the other made by the IB for projects above 500 MW capacity. However, the MoE was instructed to use the PDA template formulated by the IB. The MoE then started to prepare the same PDA template for hydropower projects below 500 MW capacity, confirmed Keshav Dhoj Adhikary, Head of the PDA negotiation committee at the MoE. The PDA negotiation committee formed by the MoE comprises representatives from the Finance Ministry, Ministry of Law and the Nepal Electricity Authority (NEA). </div> <div> </div> <div> <strong>Six Applicants of Below 500 MW</strong></div> <div> As of the third week of March this year, a total of six hydropower projects with a collective capacity of 1,130 MW had applied to the Department of Electricity Development (DoED) for the PDA. The six projects are namely Middle Bhote Koshi – I (40 MW), Upper Marsyangdi – A (50 MW), Kali Gandaki Gorge (164 MW), Upper Trishuli – A (216 MW), Budhi Gandaki – II (260 MW) and Lower Arun (400 MW). </div> <div> </div> <div> Of the six PDA applicants, Upper Trishuli – A is the first to pay the PDA fee while submitting the required documents. As per the PDA Procedure 2013, hydropower developers have to pay US$ 1,500 per MW as processing fee to sign the PDA. If the government refuses to sign the agreement even after the payment of the fee, the amount has to be refunded. </div> <div> </div> <div> The PDA is a vital contract between the government and the investors. The government assures the investors, through the agreement, that it would avert all possible social, economic and policy-level uncertainties during the construction phase of projects. Generally, issues related to taxes, licence period, free energy, royalty, repatriation rights and parties’ obligations are included in the PDA. </div> <div> </div> <div> <strong>PDA for Big Hydro Projects </strong></div> <div> The secretariat of the Investment Board expedited finalisation of the PDAs for four mega-hydropower projects earlier this year. It was expected to provide a much needed impetus to enable negotiations on four priority projects that have a combined capacity to produce 3000 MW of electricity. The four mega hydro projects are namely Upper Marsyangdi (600 MW), Tamakoshi – III (650 MW), Upper Karnali (900 MW) and Arun – III (900 MW). </div> <div> </div> <div> NIB, which was established more than a year ago to expedite the implementation of mega-projects including hydropower (above 500 MW) in a fast-track mode, is developing a PDA template with the help of Herbert Smith, a legal advisor based in London. </div> <div> </div> <div> <strong>Uniform PDA for All Projects </strong></div> <div> As stated earlier, there were two separate PDA templates made by the MoE and the IB to hold negotiations respectively with hydropower developers of below 500 MW and for projects above 500 MW capacity. However, the government later decided to have a uniform PDA template while negotiating with the foreign companies developing hydro power projects of all capacities. </div> <div> </div> <div> With this decision taken earlier this year, the IB and the MoE planned to negotiate with foreign developers on the basis of a single PDA model. The MoE then said that it will negotiate with foreign developers of less than 500 MW capacity on the basis of the PDA template prepared by the IB. As per the IB Act, hydropower plants with a capacity of 500 MW and above came under the board’s purview. </div> <div> </div> <div> The ministry said a uniform PDA model was to be brought into effect to prevent any confusion and prejudice while dealing with the various power developers. It concluded that since both the MoE and the IB were dealing with foreign hydro power developers, there was no need for two different models of PDA. It led the MoE to form a committee to synchronise the two PDA templates and begin negotiations with developers which meet the criteria. </div> <div> </div> <div> It further clarified that despite the PDA template being the same, there might be separate provisions for different projects based on their respective capacity, volume of investment and number of beneficiaries. </div> <div> </div> <div> It must be noted that after the formation of the IB over one-and-a-half years ago, the government entrusted it with developing large hydropower projects above 500 MW while the MoE was assigned hydropower projects of less than 500 MW capacity. </div> <div> </div> <div> Experts said that Nepal has an opportunity to bring in US$ 6 billion in foreign direct investment, create new opportunities for Nepali businesses and the Nepali labour force. Taking concrete steps to unlock the country’s vast hydro potential and solve the load shedding problem is expected to address Nepal’s biggest obstacle to investment, business development and economic growth.</div> <div> </div> <div> <img alt="List of Issued Survey Licenses (Above 200 MW)" src="/userfiles/images/survey%20license.jpg" style="width: 600px; height: 365px;" /></div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => 'Private sector hydropower promoters have suggested the government to develop a Project Development Agreement (PDA) template that is acceptable to banks, meets international standards and is immune to changes in the law.', 'sortorder' => '1340', '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' => '1478', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Special Meeting Okays RBB Share Conversion </strong></span></div> <div> The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares. With the conversion, RBB’s paid-up capital has reached Rs 8.58 billion. </div> <div> </div> <div> The SGM approved the capital restructuring through an amendment to the bank’s MoA and AoA as proposed by RBB Chairman Narahari Dhakal. After this, the bank’s capital adequacy ratio stands at 3 percent for the first time as of mid-July, which is still far below the minimum requirement of 10% set by Nepal Rastra Bank. The bank had planned to increase its core capital to Rs 8.5 billion in its capital plan which has now been attained. The government had earlier injected Rs 4.32 billion in the bank to increase its paid-up capital. </div> <div> </div> <div> The bank had received the Nepal Rastra Bank (NRB) approval for its three-year capital plan in mid-April last year. However, the bank’s proposed Rs 12.5 billion capital plan will not be enough to meet capital adequacy which require Rs 14 billion. Earlier, the government had directed RBB and NIDC Development Bank to merge in order to manage the necessary capital. However, the merger has not taken place particularly due to NIDC’s reluctance. </div> <div> </div> <div> Announcing the government budget for the fiscal year 2013-14, the Finance Minister has announced a plan to upgrade NIDC Development bank to an Infrastructure Development Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NLG Shares Listed </strong></span></div> <div> NLG Insurance Company Limited and Nepse signed an agreement on July 9 to list 2,250,000 units of ordinary shares of NLG. Trading in those shares in the secondary market started on 16 July 2013. These shares were issued as IPO in 29 March 2013.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares.', 'sortorder' => '1339', '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' => '1477', 'article_category_id' => '109', 'title' => 'Bullish Start To New Fiscal Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week). The Nepse index dropped by 8.97 points on Tuesday, 16th July closing at 509.36 but again regained and reached 521.60 at the close of Thursday, 18th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the hydro-power sub-index increased the highest by 47.84 points closing at 1113.12 points with an increase in share price of Chilime Hydropower by Rs 50 per share during the week. That was followed by the insurance companies sub-index which increased by 38.22 points. The ‘others’ sub-index dropped by 23.49 points closing at 646.19. The share price of Nepal Telecom dropped to Rs 539 per share on July 17 (Wednesday) which forced the sub-index to drop heavily from high of Rs 596 on July 15. </div> <div> </div> <div> Similarly, NIC Asia Bank topped in price increment during the week. The share price of the bank closed at Rs 669 with an increase of Rs 60 per share, followed by share price of Everest Bank (increased by Rs 59 per share) which also helped to boost the commercial bank sub-index. </div> <div> </div> <div> Shares of 120 companies were traded at Nepse during the week through 4,225 transactions amounting to Rs 393,575,000. The share price of 70 companies increased while 27 companies lost price and 23 companies remained unchanged. The transaction amount of the week is 11.89 percent higher than that of earlier week. The total number of scrips traded was1, 269,584 which is less by 550,407 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 279,371,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 2,408,732 scrips of the fund were traded during the week. </div> <div> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (3339). </div> <div> </div> <div> Similarly, a total of 200,000 bonus shares of Excel Development Bank were listed during the week.</div> <div> </div> <div> <img alt="Bullish Start" src="/userfiles/images/Bullish%20Start.jpg" style="width: 600px; height: 172px;" /></div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 535.72 points on Sunday (July 21). The index increased by 14.19 points from the Thursday (July 18) close. All sector sub-indices saw an increment during the day. Insurance sub-index had the highest increment by 36.38 points, closing at 992.96 points. A total of 533,233 shares was traded from 1621 transactions during a day. Market operation were suspended for 15 minutes due to heavy buying pressure.</div> <div> </div> </div> <p> </p>', 'published' => true, 'created' => '2013-07-23', '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' => 'Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week).', 'sortorder' => '1338', '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' => '1476', 'article_category_id' => '109', 'title' => 'Nepse Yearly Review', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> The stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent. </div> <div> </div> <div> The benchmark index had reached the highest on February 17, 2013 at 555.93 points, while the lowest record for the fiscal year was on July 16, 2012 (the opening day) at 384.92 points. The index crossed 500 points on November 20, 2012 closing at 501.52 points. This was the first time the benchmark index had crossed the 500-point mark in over two-and-half years. </div> <div> </div> <div> Compared to the turnover of Rs 10,162 billion of preceding fiscal year 2011-12, this year the turnover rose by a hefty 98.12% to stand at Rs 20,133 billion. Similarly, the listing and transactions of new commercial banks like Civil Bank and Commerce and Trust Bank and other companies, as well as relisting and transaction of Nepal Bank Limited helped market capitalization make a huge leap of 39.71% to stand at Rs 514,492.13 million on the close compared to Rs 368,262.13 million in the last fiscal. </div> <div> </div> <div> At the beginning of the last fiscal year, the one-third budget brought through ordinance by the then government failed to create any positive impact in the market. But the Nepal Rastra Bank’s approval to banks and financial institutions margin lending and loan against purchase receipt of shares eased liquidity in the market helping the share prices to go up. </div> <div> </div> <div> Likewise, introduction of mutual fund guideline by the Securities Board of Nepal (SEBON) paved the way for the launching of Siddhartha Growth Mutual Fund-I worth Rs 500 million and Nabil Balanced Fund-I worth Rs 750 million which created a positive impact in the market. </div> <div> On the other hand, delay in the implementation of Central Depository System (CDS) has failed to live up to the high expectations that the investors had. </div> <div> </div> <div> The consensus among political parties to form a government led by Chief Justice Khil Raj Regmi brought new rhythm in the market. The announcement resulted in the third highest turnover worth Rs 238 million on February 12, 2013, forcing a 5% circuit breaker on February 17, 2013, after nine months gap at Nepse floor. The Nepse index that day touched the highest point of the year closing at 545.72 points. </div> <div> </div> <div> Again, the provision allowing offloading of promoters share directly through secondary market, technical glitches in the Nepse website and broker terminals and increase in the number of broker suspensions for their failure to pay the dues affected the market negatively causing a drop on the Nepse index to 490.53 points. </div> <div> Meanwhile, listing and transaction of merged companies like Global IME Bank, NIC Asia Bank and others also played a part in turning the market on. </div> <div> </div> <div> Appointment of a new General Manager at Nepse at the end of the fiscal year has created a positive vibe among investors, raising hopes that long stalled projects and programmes would now be implemented.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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 stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent.', 'sortorder' => '1337', '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' => '1475', 'article_category_id' => '113', 'title' => 'US Dollar Exchange Rate At Local Market (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="Us Dollar Exchange Rate at local Market" src="/userfiles/images/us%20dollar%20exchange%20rate.jpg" style="width: 600px; height: 359px;" /></p>', 'published' => true, 'created' => '2013-07-22', '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' => 'US Dollar Exchange Rate At Local Market (15-21 July 2013)', 'sortorder' => '1336', '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' => '1489', 'article_category_id' => '149', 'title' => 'The Dairy Pioneers', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Shruti Sonthalia</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" width="15%"> <tbody> <tr> <td bgcolor="#FFFFFF" style="text-align: center;"> <img align="baseline" alt="Sanjit Kumar Rajbhandari Senior Manager for sales and marketing Chitwan Co-E Group" src="/userfiles/images/Sanjit%20Kumar%20Rajbhandari.jpg" style="border-width: 0px; border-style: solid; margin-left: 0px; margin-right: 0px; width: 200px; height: 230px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF" style="text-align: center;"> <div> <strong>Sanjit Kumar Rajbhandari</strong></div> <div> <em>Senior Manager</em></div> <div> <em>for sales and marketing</em></div> <div> <em>Chitwan Co-E Group</em></div> </td> </tr> </tbody> </table> <div> ‘ Rahul’ - Pure Taste of Nepal, is a powder milk brand promoted by the Chitawon Coe Group known for infrastructure development and construction business. After the successful venture of the Manakamana Cable Cars, the group has started another pioneering project - Chitawon Milk Limited - which is the only private company in Nepal to produce powdered milk - others in the market being imported products. </div> <div> </div> <div> Rahul has hit the markets with the tagline ‘Har Din Har Pal’, giving the dairy product a sense of being a basic necessity in daily life. Senior manager for sales and marketing Sanjit Kumar Rajbhandari says that the major challenge for the brand is the unavailability or scarcity of raw milk as the company has not been able to reach good capacity utilization. </div> <div> </div> <div> Factory at Chitwan, has 150 workers using fully-automatic machines. The factory has a processing capacity of 150,000 litres of milk and an output rate of 15 tonnes of milk powder per day. The factory uses German technology such as the Alpha Laval machinery and the NIRO-GEA, a multi stage spray-drying technology. The in-house lab of the factory is equipped with high-tech facilities such as Milk-San from FOSS-Denmark, a company that produces analytical instruments for quality control. </div> <div> </div> <div> Other products by Rahul apart from powder milk include ghee, skim milk powder (SMP) and dairy whitener. Since all products use milk as their basic ingredient, productivity varies given its scarcity in Nepal. Rahul, however, targets to produce 50 tonnes of ghee every month. </div> <div> </div> <div> For marketing, Rahul uses print as well as electronic media. “We also participate in events, especially family and housewife targeted events, “says Rajbhandari. The company is seen to sponsor events during the Teej festival. </div> <div> </div> <div> The products are distributed in all 75 districts in Nepal with the help of 50 dealers. The products also reach the inaccessible regions, like Solukhumbu and Jumla, through air lifting. The SMP product has been exported to Pakistan since the last two years on a regular basis. The company owns 50 percent of market segment for dairy whiteners used for tea and coffee and it sells 600 tonnes of dairy whitener according to Rajbhandari. Additionally, the consumer pack of SMP for health-conscious people is the company’s new product in the pipeline. </div> <div> </div> <div> The senior manager, explains about the two seasons of raw milk i.e. lean and flush. In lean season there is less availability of raw milk and in flush season there is excess milk supply from farmers.Because of this powder plant, milk holiday problem was solved in the country. To counter the problem of scarcity, Chitawon Milk Limited helps farmers by providing nutritious cattle feed, grass, and free health services for the cattle so that it leads to an increased production of milk.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => '‘ Rahul’ - Pure Taste of Nepal, is a powder milk brand promoted by the Chitawon Coe Group known for infrastructure development and construction business.', 'sortorder' => '1350', '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' => '1488', 'article_category_id' => '100', 'title' => 'Tourism Briefs (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><img alt="Around The World" src="/userfiles/images/Around%20the%20World%20in%20180%20Days.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 225px; height: 111px;" /><span style="font-size:14px;">Around the World in 180 Days </span></strong></div> <div> Oceania Cruises has announced its first ever Around the World in 180 Days cruise, a star-studded, port-intensive 180-day voyage aboard the 684-guest Insignia, setting sail from Miami on January 10, 2015.This extraordinary voyage visits five continents, 44 countries and 89 ports of call and will feature 11 overnight calls plus 4 two-night calls in Cape Town, South Africa, Yangon, Myanmar, Singapore, and China. Insignia’s 180-day journey begins by visiting boutique ports in the Caribbean then steers south to South America and east to Africa before heading to India, Asia, Australia, New Zealand, the South Pacific and Hawaii before returning via the Panama Canal to Miami on July 8, 2015.In addition to crossing the equator four times and sailing through all 24 time zones, the Around the World in 180 Days cruise will traverse three oceans and 10 seas, call on 45 islands and offer the chance to visit 47 UNESCO World Heritage Sites. (Traveldailynews.com) </div> <div> </div> <div> <span style="font-size:14px;"><strong>Internet Most Important Hotel Amenity: IGH </strong></span></div> <div> Poor internet connectivity is the biggest headache facing travellers today, according to a new global survey carried out by InterContinental Hotels Group (IHG). The poll of 10,000 travellers by IGH revealed that being unable to connect to the internet was identified by 40 per cent of business travellers as the main problem they face while staying at hotels, ahead of difficult transport links (26 per cent) and a noisy location (24per cent).Logging onto the internet was identified as the first thing 31 per cent of people do when they arrive in their hotel room, and for many travellers, keeping in touch with family is the most important reason for wanting to connect.The survey revealed that nearly two thirds (64 per cent) of travellers would prefer to communicate with people back home over the internet rather than on the phone. (Traveldailymedia.com) </div> <div> </div> <div> <strong><img alt="Bengaluru" src="/userfiles/images/Bengaluru%20Airport.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 101px;" /><span style="font-size:14px;">Bengaluru Airport Gets Renamed </span></strong></div> <div> The Union Cabinet of India has approved the renaming of Bengaluru International Airport. The airport will now be called as Kempegowda International Airport. The Bengaluru International Airport (BIA) is a Greenfield airport in South India which became operational in 2008.The airport is named after Hiriya Kempegowda, a ruler under the Vijaynagar Empire, who ruled most parts of Karnataka during the 16th century. (Traveldailymedia.com) </div> <div> </div> <div> </div> <div> <strong><img alt="Tanzania" src="/userfiles/images/Tanzania%20Best%20Safari%20Country.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 99px;" /><span style="font-size:14px;">Tanzania Best Safari Country </span></strong></div> <div> Tanzania was voted the best Safari country in Africa by Safaribooking. com, an online marketing resource. Tanzania, the largest country in East Africa, was the outstanding winner with a score of 4.8 out of 5, beating seven other countries in the category.Tanzania rated top in the Best Safari Country category due to many of its natural attractions such as World Heritage Sites Ngorongoro Crater and Serengeti National Park which boast having a wide variety of wildlife all year round. Tanzania is also home to Mount Kilimanjaro, the tallest free standing mountain in Africa at 19,341 feet and the exotic islands of Zanzibar, a favorite attraction for visitors. The analysis was based on 2,305 reviews from safari travelers and 756 reviews from industry experts, most of whom are reputable guidebook writers working for Lonely Planet, Rough Guides and others. (Traveldailynews.com)</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Poor internet connectivity is the biggest headache facing travellers today, according to a new global survey carried out by InterContinental Hotels Group (IHG).', 'sortorder' => '1349', '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' => '1487', 'article_category_id' => '99', 'title' => 'Ghale Wins Surya Nepal Gokarna Monthly Medal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Daman B Ghale has won the Surya Nepal Gokarna Monthly Medal played at Gokarna Golf Club on Saturday. Ghale scored five-under 67 to register victory of one stroke over Tenzing Palden who produced a score card of 4-under 68. </div> <div> </div> <div> Ang Tshiring Sherpa scored five-over 77 gross to win the best gross title. Ang Dendi Sherpa accumulated two under net 70 and finished third in the tournament. </div> <div> </div> <div> A total of 34 players took part in the tournament sponsored by Surya Nepal Pvt Ltd. President of Gokarna Golf Club Suhrid Ghimire gave away the prizes to the winners of the tournament. The tournament was played under stroke play format with full handicap. </div> <div> </div> <div> After the fifth edition, Ang Dendi Sherpa is leading the club championship leader board with 130 points. Sonam Ongdi is second with 112 points. Tendi Sherpa, Daman B Ghale, Brian Fawcett and TG Shrestha are tied at third place with 100 points. Aditi Ghimire is at seventh with 64 points. Ang Dorjee Sherpa, Rekha Ghimire and Mahesh Bikram Karki are tied at eighth place with with 60 points. </div> <div> </div> <div> There will be 10 medal rounds played till the month of October. Top 30 players will compete over two rounds for the club championship in November and December. Top three gross scorers shall also qualify for the final medal rounds.</div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Daman B Ghale has won the Surya Nepal Gokarna Monthly Medal played at Gokarna Golf Club on Saturday. Ghale scored five-under 67 to register victory of one stroke over Tenzing Palden who produced a score card of 4-under 68.', 'sortorder' => '1348', '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' => '1486', 'article_category_id' => '99', 'title' => 'Thai Airways’ Fam Trip', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Thai Airways International Public Company Limited organized a Fam Trip for the top seven travel agencies in Nepal on 7th July 2013. The 6-day trip included the exploration of “The Sanctuary of Truth, Damnern Saduak and Rose Garden, and Dinner Cruise on ‘Loy Nava’ in Pattaya and Bangkok. In addition to this, Amari Orchid Pattaya and Novotel Bangkok Ploenchit Bangkok organized the inspection of hotel.</div> <div> </div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Thai Airways International Public Company Limited organized a Fam Trip for the top seven travel agencies in Nepal on 7th July 2013.', 'sortorder' => '1347', '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' => '1485', 'article_category_id' => '99', 'title' => 'Nepal As MICE Destination Discussed', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">Nepal Tourism Board (NTB) has started negotiations with tourism associations and experts to adopt a strategy to promote Nepal as a MICE (Meeting, Incentive, Conference and Exhibition) destination. NTB held discussion with the representatives of five and four Star hotels on 15 July for the purpose. </span></div> <div> </div> <div> “Prior to this, we were solely dependent on the individual overseas tour operators to promote Nepal but we will now all be working together to penetrate new segment of a market that has great potential,” said Subash Nirola, Officiating Chief Executive Officer of NTB. NTB has asked the hotels to form a consortium so that it would be easy to explore, promote and support MICE tourism. The hotels were also requested to provide the modality for concert market and promotion plan in the focused and targeted market</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Tourism Board (NTB) has started negotiations with tourism associations and experts to adopt a strategy to promote Nepal as a MICE (Meeting, Incentive, Conference and Exhibition) destination.', 'sortorder' => '1346', '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' => '1484', 'article_category_id' => '99', 'title' => 'Niraula Appointed NTB’s Acting CEO', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/Subash%20Niraula.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 90px; height: 118px;" />Subash Niraula is appointed as the Acting Chief Executive Officer of Nepal Tourism Board by the 187th meeting of Executive Committee of the Board held on 15 July. With this, Niraula has now also become the Member Secretary of Nepal Tourism Board. Prior to this, he had been working in the capacity of Officiating Chief Executive Officer of Nepal Tourism Board. Niraula had joined Nepal Tourism Board as the Director in 1999 and was senior most Director prior to being appointed as Officiating CEO. </span></div> <div> </div> <div> Niraula said that the appointment has given him more challenge and responsibility, and he is fully determined to steer Nepal Tourism Board in a positive direction.</div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => 'Subash Niraula is appointed as the Acting Chief Executive Officer of Nepal Tourism Board by the 187th meeting of Executive Committee of the Board held on 15 July.', 'sortorder' => '1345', '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' => '1483', 'article_category_id' => '99', 'title' => 'Hogan Named Aviation Industry’s Executive Leader Of The Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 12px;">James Hogan, President and CEO of Etihad Airways, has won the Executive Leadership category at the annual Airline Strategy Awards held in London.The award was announced at a ceremony held at the Honourable Society of Lincoln’s Inn and attended by hundreds of senior airline executives from around the world. </span></div> <div> </div> <div> “I am very honoured to have been recognised by fellow leaders within the global aviation industry and this is a great accolade for all of us at Etihad Airways and our shareholders in Abu Dhabi. The Executive Leadership Award was chosen by a panel of expert judges from the aviation industry after a thorough examination of Etihad Airways’ performance in the last 12 months. In-depth analysis was conducted on the airline’s increased profitability, industry leading growth and unique new partnership strategy with other air carriers.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'James Hogan, President and CEO of Etihad Airways, has won the Executive Leadership category at the annual Airline Strategy Awards held in London.', 'sortorder' => '1344', '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' => '1482', 'article_category_id' => '99', 'title' => 'Qatar Upgrades Capacity On Istanbul Route', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 12px;">Qatar Airways has upgraded its capacity on its Istanbul - Doha route with an Airbus A330 aircraft. As of 1 July, the introduction of the new wide-body aircraft results in an increased capacity on flights to Istanbul by 166 seats per day, a nearly 50 per cent increase. All flights on the Doha – Istanbul routes will be operated with an Airbus A330, featuring a two-class configuration, including up to 24 seats in Business Class and up to 258 seats in Economy Class. The aircraft offers seatback TV screens providing passengers with interactive onboard entertainment system and a choice of more than 1000 audio and video on demand options. </span></div> <div> </div> <div> “We are absolutely delighted to introduce a wide body aircraft on our Istanbul route, which will provide our passengers extra capacity and an optimised level of service and comfort,” said Qatar Airways Chief Executive Officer Akbar Al Baker.</div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Qatar Airways has upgraded its capacity on its Istanbul - Doha route with an Airbus A330 aircraft.', 'sortorder' => '1343', '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' => '1481', 'article_category_id' => '157', 'title' => 'New Italian Show At Alfresco', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Alfresco, Italian restaurant at Soaltee Crowne Plaza has introduced a new menu. The restaurant located near the poolside is one of the popular Italian dining destinations in Kathmandu. According to Balaram Pathak, Food and Beverage Director of the Hotel, the restaurant serves authentic Italian cuisine, and the menu is changed to cater to the Italian cuisine enthusiasts. The menu of the restaurant is changed after one and a half years. </div> <div> </div> <div> Italian cuisine has Roman, Greek and Arabian influences, and is known for the use of fresh ingredients. The new menu at Alfresco flaunts delicacies from the southern Italian regions of Sicily, Sardinia and Livorno. </div> <div> </div> <div> The new menu has on it delectable starters like smoked salmon and crispy lettuce with parmesan flakes and shallow fried prawns marinated in garlic and herbs among other exotics. The choices for salads include Caesar salad, spicy mushroom salad and Panzanella, a salad with bread and tomatoes. Oven roasted pumpkin soup, smoked bacon, kernel corn and brown onion, traditional prawn, squid and Tuscan beans are the new selection of soups. </div> <div> </div> <div> For main course too, there are numerous flavorsome choices. Cannelloni, lasagna, spinach Fettuccine with seafood, risotto and others are pasta varieties on the menu. Salmon steak, tiger prawns, grilled fresh water Himalayan trout, varieties of chicken and fish preparations are other mouth-watering culinary delights. Alfresco also boasts of a fine assortment of wines to complement the food served. </div> <div> </div> <div> To wrap up the meal, Alfresco offers gelatos, tiramisu, pannacotta, melting chocolate with volcanic touch and cassata. All in all, Alfresco’s new menu covers the best Italian cuisine has to offer. Visit once to tantalize your palate. Bon Appétit!</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Alfresco, Italian restaurant at Soaltee Crowne Plaza has introduced a new menu. The restaurant located near the poolside is one of the popular Italian dining destinations in Kathmandu.', 'sortorder' => '1342', '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' => '1480', 'article_category_id' => '152', 'title' => 'Focus Briefs (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Upper Trishuli – A (216 MW) </strong></span></div> <div> Nepal Water and Energy Development Company is the developer of the 216 MW Upper Trishuli A project. The major stakeholders of the project are Korea South East Electric Company (50%), Kyeryong Construction (10%) and Nepali Investors (10%), Daelim Industrial Company (15%) and International Finance Corporation (15 %). The 216-MW Upper Trishuli-I is a mega hydropower project which requires lot of time, energy and resources to conduct environmental assessments and make other necessary preparations including financial closure. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Upper Marsyangdi (600 MW) </strong></span></div> <div> GMR Group has acquired 80 per cent stake in Himtal Hydropower Company Pvt Ltd which is developing the 600 MW Upper Marsyangdi Hydro Electric Project on the Marsyangdi River in Nepal. The plant is scheduled to be commissioned by the end of 2016. Himtal Hydro Power Company Pvt Ltd is developing ‘The Upper Marsyangdi-2 Hydroelectric Power’ project. This run-of-river type development is located in the districts of Lamjung and Manang, aiming to fully utilise the power potential of the Marsyangdi river. The proposed location of the dam – utilising a gross head of about 627.67 m – is just upstream of Tal village in Manang District, about 45 km upstream of Besisahar. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tamakoshi – III (650 MW) </strong></span></div> <div> SN Power was awarded the Survey Licenses in March 2007 by the Government of Nepal to develop the Tamakohsi 2 (207 MW) and Tamakoshi 3 (275 MW) Hydroelectric projects in the Tamakoshi River of Dolakha district. Based on a concept study results, SN Power applied for and was awarded an amended license for a single 600 MW daily peaking run-of-river project to be called the Tamakoshi 3 project. The TA 3 HEP is planned for the Tamakoshi River stretch between Singati bazaar and approximately 100 meter above Tamakoshi bridge at Kirnetar. The technical feasibility of the project has been performed in the range from 600 to 1320 MW. The Feasibility Study for this project is in the final stage of completion. Power will be evacuated at Dhalkebar. The bulk of the power is expected to be exported to India after supplying the domestic demand on a commercial basis. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Upper Karnali (900 MW) </strong></span></div> <div> A consortium comprising GMR Energy Limited, GMR Infrastructure Limited (GIL) and Italian-Thai Development Project Company signed a Memorandum of Understanding (MoU) with the Government of Nepal, for developing the 900 MW Upper Karnali Hydro electric Project, in Nepal. The project will be developed on a Build, Own, Operate and Transfer (BOOT) basis. The MoU signing successfully concluded the first ever International Competitive Bidding (ICB) process of award of large hydropower projects in Nepal, which followed a rigorous multi-layered evaluation process, lasting 12 months. The plant is scheduled to be commissioned by the end of 2016. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Arun – III (900 MW) </strong></span></div> <div> The government awarded the 900 MW Arun III Hydropower Project to the Sutlej Jal Vidyut Nigam Ltd (SJVN), India´s state-owned power producer, after the company demonstrated financial capability to bring in Rs 82.5 billion for the development of the project. Arun III is a run-of-the-river project based in Sankhuwasava district and SJVN was selected to prepare its detailed project report (DPR) and develop the project through a global bidding in 2008.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'GMR Group has acquired 80 per cent stake in Himtal Hydropower Company Pvt Ltd which is developing the 600 MW Upper Marsyangdi Hydro Electric Project on the Marsyangdi River in Nepal.', 'sortorder' => '1341', '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' => '1479', 'article_category_id' => '153', 'title' => 'Hydropower Developers Pursue Favourable PDA', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The hydropower promoters of the private sector have designed a template for the Project Development Agreement (PDA) and handed it over to the government. They have said that this draft reflects their concerns. Earlier, the Ministry of Energy had prepared a PDA template a year ago, meant for hydropower projects of below 500 MW capacity. The private sector wants that revised. </div> <div> </div> <div> “We have submitted a PDA draft by incorporating the concerns of the private sector,” said Dr Subarna Das Shrestha, President of Independent Power Producers’ Association, Nepal (IPPAN). He added, “We hope that the government will incorporate the suggestions of the private sector while finalising the PDA template it is developing on its own.” </div> <div> </div> <div> Bishwa Prakash Pandit, Secretary at the Ministry of Energy (MoE), while receiving the PDA draft prepared by IPPAN, said, “The PDA draft will be finalised bearing in mind the concerns of the hydropower promoters and national interest.” He further added that the PDA draft will be developed in a manner which will be helpful to attract foreign investment. </div> <div> </div> <div> Meanwhile, the Investment Board (IB) Nepal said a PDA template is being worked out which will have provisions requiring the hydropower promoters to pay compensation for failing to meet project deadline. The provisions in the PDA template will also require hydropower promoters to give due attention to environmental concerns and provide employment to locals among other things. </div> <div> </div> <div> <strong>Negotiations with Hydropower Developers </strong></div> <div> While the MoE plans to start PDA negotiations with hydropower developers building projects below 500 MW, the IB has been conducting PDA negotiations with three foreign power developers. Even though the MoE had made a PDA draft for hydropower projects below 500 MW and tried to start negotiations with the concerned hydropower developers, the process was stalled after most of the developers expressed reservations over the PDA draft. The developers had then said that it was not a sound proposition technically as well as financially. </div> <div> </div> <div> Earlier, two separate PDA templates were prepared to hold negotiations with hydropower developers — one made by the MoE for hydropower projects below 500 MW and the other made by the IB for projects above 500 MW capacity. However, the MoE was instructed to use the PDA template formulated by the IB. The MoE then started to prepare the same PDA template for hydropower projects below 500 MW capacity, confirmed Keshav Dhoj Adhikary, Head of the PDA negotiation committee at the MoE. The PDA negotiation committee formed by the MoE comprises representatives from the Finance Ministry, Ministry of Law and the Nepal Electricity Authority (NEA). </div> <div> </div> <div> <strong>Six Applicants of Below 500 MW</strong></div> <div> As of the third week of March this year, a total of six hydropower projects with a collective capacity of 1,130 MW had applied to the Department of Electricity Development (DoED) for the PDA. The six projects are namely Middle Bhote Koshi – I (40 MW), Upper Marsyangdi – A (50 MW), Kali Gandaki Gorge (164 MW), Upper Trishuli – A (216 MW), Budhi Gandaki – II (260 MW) and Lower Arun (400 MW). </div> <div> </div> <div> Of the six PDA applicants, Upper Trishuli – A is the first to pay the PDA fee while submitting the required documents. As per the PDA Procedure 2013, hydropower developers have to pay US$ 1,500 per MW as processing fee to sign the PDA. If the government refuses to sign the agreement even after the payment of the fee, the amount has to be refunded. </div> <div> </div> <div> The PDA is a vital contract between the government and the investors. The government assures the investors, through the agreement, that it would avert all possible social, economic and policy-level uncertainties during the construction phase of projects. Generally, issues related to taxes, licence period, free energy, royalty, repatriation rights and parties’ obligations are included in the PDA. </div> <div> </div> <div> <strong>PDA for Big Hydro Projects </strong></div> <div> The secretariat of the Investment Board expedited finalisation of the PDAs for four mega-hydropower projects earlier this year. It was expected to provide a much needed impetus to enable negotiations on four priority projects that have a combined capacity to produce 3000 MW of electricity. The four mega hydro projects are namely Upper Marsyangdi (600 MW), Tamakoshi – III (650 MW), Upper Karnali (900 MW) and Arun – III (900 MW). </div> <div> </div> <div> NIB, which was established more than a year ago to expedite the implementation of mega-projects including hydropower (above 500 MW) in a fast-track mode, is developing a PDA template with the help of Herbert Smith, a legal advisor based in London. </div> <div> </div> <div> <strong>Uniform PDA for All Projects </strong></div> <div> As stated earlier, there were two separate PDA templates made by the MoE and the IB to hold negotiations respectively with hydropower developers of below 500 MW and for projects above 500 MW capacity. However, the government later decided to have a uniform PDA template while negotiating with the foreign companies developing hydro power projects of all capacities. </div> <div> </div> <div> With this decision taken earlier this year, the IB and the MoE planned to negotiate with foreign developers on the basis of a single PDA model. The MoE then said that it will negotiate with foreign developers of less than 500 MW capacity on the basis of the PDA template prepared by the IB. As per the IB Act, hydropower plants with a capacity of 500 MW and above came under the board’s purview. </div> <div> </div> <div> The ministry said a uniform PDA model was to be brought into effect to prevent any confusion and prejudice while dealing with the various power developers. It concluded that since both the MoE and the IB were dealing with foreign hydro power developers, there was no need for two different models of PDA. It led the MoE to form a committee to synchronise the two PDA templates and begin negotiations with developers which meet the criteria. </div> <div> </div> <div> It further clarified that despite the PDA template being the same, there might be separate provisions for different projects based on their respective capacity, volume of investment and number of beneficiaries. </div> <div> </div> <div> It must be noted that after the formation of the IB over one-and-a-half years ago, the government entrusted it with developing large hydropower projects above 500 MW while the MoE was assigned hydropower projects of less than 500 MW capacity. </div> <div> </div> <div> Experts said that Nepal has an opportunity to bring in US$ 6 billion in foreign direct investment, create new opportunities for Nepali businesses and the Nepali labour force. Taking concrete steps to unlock the country’s vast hydro potential and solve the load shedding problem is expected to address Nepal’s biggest obstacle to investment, business development and economic growth.</div> <div> </div> <div> <img alt="List of Issued Survey Licenses (Above 200 MW)" src="/userfiles/images/survey%20license.jpg" style="width: 600px; height: 365px;" /></div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => 'Private sector hydropower promoters have suggested the government to develop a Project Development Agreement (PDA) template that is acceptable to banks, meets international standards and is immune to changes in the law.', 'sortorder' => '1340', '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' => '1478', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Special Meeting Okays RBB Share Conversion </strong></span></div> <div> The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares. With the conversion, RBB’s paid-up capital has reached Rs 8.58 billion. </div> <div> </div> <div> The SGM approved the capital restructuring through an amendment to the bank’s MoA and AoA as proposed by RBB Chairman Narahari Dhakal. After this, the bank’s capital adequacy ratio stands at 3 percent for the first time as of mid-July, which is still far below the minimum requirement of 10% set by Nepal Rastra Bank. The bank had planned to increase its core capital to Rs 8.5 billion in its capital plan which has now been attained. The government had earlier injected Rs 4.32 billion in the bank to increase its paid-up capital. </div> <div> </div> <div> The bank had received the Nepal Rastra Bank (NRB) approval for its three-year capital plan in mid-April last year. However, the bank’s proposed Rs 12.5 billion capital plan will not be enough to meet capital adequacy which require Rs 14 billion. Earlier, the government had directed RBB and NIDC Development Bank to merge in order to manage the necessary capital. However, the merger has not taken place particularly due to NIDC’s reluctance. </div> <div> </div> <div> Announcing the government budget for the fiscal year 2013-14, the Finance Minister has announced a plan to upgrade NIDC Development bank to an Infrastructure Development Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NLG Shares Listed </strong></span></div> <div> NLG Insurance Company Limited and Nepse signed an agreement on July 9 to list 2,250,000 units of ordinary shares of NLG. Trading in those shares in the secondary market started on 16 July 2013. These shares were issued as IPO in 29 March 2013.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares.', 'sortorder' => '1339', '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' => '1477', 'article_category_id' => '109', 'title' => 'Bullish Start To New Fiscal Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week). The Nepse index dropped by 8.97 points on Tuesday, 16th July closing at 509.36 but again regained and reached 521.60 at the close of Thursday, 18th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the hydro-power sub-index increased the highest by 47.84 points closing at 1113.12 points with an increase in share price of Chilime Hydropower by Rs 50 per share during the week. That was followed by the insurance companies sub-index which increased by 38.22 points. The ‘others’ sub-index dropped by 23.49 points closing at 646.19. The share price of Nepal Telecom dropped to Rs 539 per share on July 17 (Wednesday) which forced the sub-index to drop heavily from high of Rs 596 on July 15. </div> <div> </div> <div> Similarly, NIC Asia Bank topped in price increment during the week. The share price of the bank closed at Rs 669 with an increase of Rs 60 per share, followed by share price of Everest Bank (increased by Rs 59 per share) which also helped to boost the commercial bank sub-index. </div> <div> </div> <div> Shares of 120 companies were traded at Nepse during the week through 4,225 transactions amounting to Rs 393,575,000. The share price of 70 companies increased while 27 companies lost price and 23 companies remained unchanged. The transaction amount of the week is 11.89 percent higher than that of earlier week. The total number of scrips traded was1, 269,584 which is less by 550,407 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 279,371,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 2,408,732 scrips of the fund were traded during the week. </div> <div> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (3339). </div> <div> </div> <div> Similarly, a total of 200,000 bonus shares of Excel Development Bank were listed during the week.</div> <div> </div> <div> <img alt="Bullish Start" src="/userfiles/images/Bullish%20Start.jpg" style="width: 600px; height: 172px;" /></div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 535.72 points on Sunday (July 21). The index increased by 14.19 points from the Thursday (July 18) close. All sector sub-indices saw an increment during the day. Insurance sub-index had the highest increment by 36.38 points, closing at 992.96 points. A total of 533,233 shares was traded from 1621 transactions during a day. Market operation were suspended for 15 minutes due to heavy buying pressure.</div> <div> </div> </div> <p> </p>', 'published' => true, 'created' => '2013-07-23', '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' => 'Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week).', 'sortorder' => '1338', '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' => '1476', 'article_category_id' => '109', 'title' => 'Nepse Yearly Review', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> The stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent. </div> <div> </div> <div> The benchmark index had reached the highest on February 17, 2013 at 555.93 points, while the lowest record for the fiscal year was on July 16, 2012 (the opening day) at 384.92 points. The index crossed 500 points on November 20, 2012 closing at 501.52 points. This was the first time the benchmark index had crossed the 500-point mark in over two-and-half years. </div> <div> </div> <div> Compared to the turnover of Rs 10,162 billion of preceding fiscal year 2011-12, this year the turnover rose by a hefty 98.12% to stand at Rs 20,133 billion. Similarly, the listing and transactions of new commercial banks like Civil Bank and Commerce and Trust Bank and other companies, as well as relisting and transaction of Nepal Bank Limited helped market capitalization make a huge leap of 39.71% to stand at Rs 514,492.13 million on the close compared to Rs 368,262.13 million in the last fiscal. </div> <div> </div> <div> At the beginning of the last fiscal year, the one-third budget brought through ordinance by the then government failed to create any positive impact in the market. But the Nepal Rastra Bank’s approval to banks and financial institutions margin lending and loan against purchase receipt of shares eased liquidity in the market helping the share prices to go up. </div> <div> </div> <div> Likewise, introduction of mutual fund guideline by the Securities Board of Nepal (SEBON) paved the way for the launching of Siddhartha Growth Mutual Fund-I worth Rs 500 million and Nabil Balanced Fund-I worth Rs 750 million which created a positive impact in the market. </div> <div> On the other hand, delay in the implementation of Central Depository System (CDS) has failed to live up to the high expectations that the investors had. </div> <div> </div> <div> The consensus among political parties to form a government led by Chief Justice Khil Raj Regmi brought new rhythm in the market. The announcement resulted in the third highest turnover worth Rs 238 million on February 12, 2013, forcing a 5% circuit breaker on February 17, 2013, after nine months gap at Nepse floor. The Nepse index that day touched the highest point of the year closing at 545.72 points. </div> <div> </div> <div> Again, the provision allowing offloading of promoters share directly through secondary market, technical glitches in the Nepse website and broker terminals and increase in the number of broker suspensions for their failure to pay the dues affected the market negatively causing a drop on the Nepse index to 490.53 points. </div> <div> Meanwhile, listing and transaction of merged companies like Global IME Bank, NIC Asia Bank and others also played a part in turning the market on. </div> <div> </div> <div> Appointment of a new General Manager at Nepse at the end of the fiscal year has created a positive vibe among investors, raising hopes that long stalled projects and programmes would now be implemented.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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 stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent.', 'sortorder' => '1337', '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' => '1475', 'article_category_id' => '113', 'title' => 'US Dollar Exchange Rate At Local Market (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="Us Dollar Exchange Rate at local Market" src="/userfiles/images/us%20dollar%20exchange%20rate.jpg" style="width: 600px; height: 359px;" /></p>', 'published' => true, 'created' => '2013-07-22', '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' => 'US Dollar Exchange Rate At Local Market (15-21 July 2013)', 'sortorder' => '1336', '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' => '1489', 'article_category_id' => '149', 'title' => 'The Dairy Pioneers', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Shruti Sonthalia</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" width="15%"> <tbody> <tr> <td bgcolor="#FFFFFF" style="text-align: center;"> <img align="baseline" alt="Sanjit Kumar Rajbhandari Senior Manager for sales and marketing Chitwan Co-E Group" src="/userfiles/images/Sanjit%20Kumar%20Rajbhandari.jpg" style="border-width: 0px; border-style: solid; margin-left: 0px; margin-right: 0px; width: 200px; height: 230px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF" style="text-align: center;"> <div> <strong>Sanjit Kumar Rajbhandari</strong></div> <div> <em>Senior Manager</em></div> <div> <em>for sales and marketing</em></div> <div> <em>Chitwan Co-E Group</em></div> </td> </tr> </tbody> </table> <div> ‘ Rahul’ - Pure Taste of Nepal, is a powder milk brand promoted by the Chitawon Coe Group known for infrastructure development and construction business. After the successful venture of the Manakamana Cable Cars, the group has started another pioneering project - Chitawon Milk Limited - which is the only private company in Nepal to produce powdered milk - others in the market being imported products. </div> <div> </div> <div> Rahul has hit the markets with the tagline ‘Har Din Har Pal’, giving the dairy product a sense of being a basic necessity in daily life. Senior manager for sales and marketing Sanjit Kumar Rajbhandari says that the major challenge for the brand is the unavailability or scarcity of raw milk as the company has not been able to reach good capacity utilization. </div> <div> </div> <div> Factory at Chitwan, has 150 workers using fully-automatic machines. The factory has a processing capacity of 150,000 litres of milk and an output rate of 15 tonnes of milk powder per day. The factory uses German technology such as the Alpha Laval machinery and the NIRO-GEA, a multi stage spray-drying technology. The in-house lab of the factory is equipped with high-tech facilities such as Milk-San from FOSS-Denmark, a company that produces analytical instruments for quality control. </div> <div> </div> <div> Other products by Rahul apart from powder milk include ghee, skim milk powder (SMP) and dairy whitener. Since all products use milk as their basic ingredient, productivity varies given its scarcity in Nepal. Rahul, however, targets to produce 50 tonnes of ghee every month. </div> <div> </div> <div> For marketing, Rahul uses print as well as electronic media. “We also participate in events, especially family and housewife targeted events, “says Rajbhandari. The company is seen to sponsor events during the Teej festival. </div> <div> </div> <div> The products are distributed in all 75 districts in Nepal with the help of 50 dealers. The products also reach the inaccessible regions, like Solukhumbu and Jumla, through air lifting. The SMP product has been exported to Pakistan since the last two years on a regular basis. The company owns 50 percent of market segment for dairy whiteners used for tea and coffee and it sells 600 tonnes of dairy whitener according to Rajbhandari. Additionally, the consumer pack of SMP for health-conscious people is the company’s new product in the pipeline. </div> <div> </div> <div> The senior manager, explains about the two seasons of raw milk i.e. lean and flush. In lean season there is less availability of raw milk and in flush season there is excess milk supply from farmers.Because of this powder plant, milk holiday problem was solved in the country. To counter the problem of scarcity, Chitawon Milk Limited helps farmers by providing nutritious cattle feed, grass, and free health services for the cattle so that it leads to an increased production of milk.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => '‘ Rahul’ - Pure Taste of Nepal, is a powder milk brand promoted by the Chitawon Coe Group known for infrastructure development and construction business.', 'sortorder' => '1350', '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' => '1488', 'article_category_id' => '100', 'title' => 'Tourism Briefs (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><img alt="Around The World" src="/userfiles/images/Around%20the%20World%20in%20180%20Days.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 225px; height: 111px;" /><span style="font-size:14px;">Around the World in 180 Days </span></strong></div> <div> Oceania Cruises has announced its first ever Around the World in 180 Days cruise, a star-studded, port-intensive 180-day voyage aboard the 684-guest Insignia, setting sail from Miami on January 10, 2015.This extraordinary voyage visits five continents, 44 countries and 89 ports of call and will feature 11 overnight calls plus 4 two-night calls in Cape Town, South Africa, Yangon, Myanmar, Singapore, and China. Insignia’s 180-day journey begins by visiting boutique ports in the Caribbean then steers south to South America and east to Africa before heading to India, Asia, Australia, New Zealand, the South Pacific and Hawaii before returning via the Panama Canal to Miami on July 8, 2015.In addition to crossing the equator four times and sailing through all 24 time zones, the Around the World in 180 Days cruise will traverse three oceans and 10 seas, call on 45 islands and offer the chance to visit 47 UNESCO World Heritage Sites. (Traveldailynews.com) </div> <div> </div> <div> <span style="font-size:14px;"><strong>Internet Most Important Hotel Amenity: IGH </strong></span></div> <div> Poor internet connectivity is the biggest headache facing travellers today, according to a new global survey carried out by InterContinental Hotels Group (IHG). The poll of 10,000 travellers by IGH revealed that being unable to connect to the internet was identified by 40 per cent of business travellers as the main problem they face while staying at hotels, ahead of difficult transport links (26 per cent) and a noisy location (24per cent).Logging onto the internet was identified as the first thing 31 per cent of people do when they arrive in their hotel room, and for many travellers, keeping in touch with family is the most important reason for wanting to connect.The survey revealed that nearly two thirds (64 per cent) of travellers would prefer to communicate with people back home over the internet rather than on the phone. (Traveldailymedia.com) </div> <div> </div> <div> <strong><img alt="Bengaluru" src="/userfiles/images/Bengaluru%20Airport.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 101px;" /><span style="font-size:14px;">Bengaluru Airport Gets Renamed </span></strong></div> <div> The Union Cabinet of India has approved the renaming of Bengaluru International Airport. The airport will now be called as Kempegowda International Airport. The Bengaluru International Airport (BIA) is a Greenfield airport in South India which became operational in 2008.The airport is named after Hiriya Kempegowda, a ruler under the Vijaynagar Empire, who ruled most parts of Karnataka during the 16th century. (Traveldailymedia.com) </div> <div> </div> <div> </div> <div> <strong><img alt="Tanzania" src="/userfiles/images/Tanzania%20Best%20Safari%20Country.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 99px;" /><span style="font-size:14px;">Tanzania Best Safari Country </span></strong></div> <div> Tanzania was voted the best Safari country in Africa by Safaribooking. com, an online marketing resource. Tanzania, the largest country in East Africa, was the outstanding winner with a score of 4.8 out of 5, beating seven other countries in the category.Tanzania rated top in the Best Safari Country category due to many of its natural attractions such as World Heritage Sites Ngorongoro Crater and Serengeti National Park which boast having a wide variety of wildlife all year round. Tanzania is also home to Mount Kilimanjaro, the tallest free standing mountain in Africa at 19,341 feet and the exotic islands of Zanzibar, a favorite attraction for visitors. The analysis was based on 2,305 reviews from safari travelers and 756 reviews from industry experts, most of whom are reputable guidebook writers working for Lonely Planet, Rough Guides and others. (Traveldailynews.com)</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Poor internet connectivity is the biggest headache facing travellers today, according to a new global survey carried out by InterContinental Hotels Group (IHG).', 'sortorder' => '1349', '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' => '1487', 'article_category_id' => '99', 'title' => 'Ghale Wins Surya Nepal Gokarna Monthly Medal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Daman B Ghale has won the Surya Nepal Gokarna Monthly Medal played at Gokarna Golf Club on Saturday. Ghale scored five-under 67 to register victory of one stroke over Tenzing Palden who produced a score card of 4-under 68. </div> <div> </div> <div> Ang Tshiring Sherpa scored five-over 77 gross to win the best gross title. Ang Dendi Sherpa accumulated two under net 70 and finished third in the tournament. </div> <div> </div> <div> A total of 34 players took part in the tournament sponsored by Surya Nepal Pvt Ltd. President of Gokarna Golf Club Suhrid Ghimire gave away the prizes to the winners of the tournament. The tournament was played under stroke play format with full handicap. </div> <div> </div> <div> After the fifth edition, Ang Dendi Sherpa is leading the club championship leader board with 130 points. Sonam Ongdi is second with 112 points. Tendi Sherpa, Daman B Ghale, Brian Fawcett and TG Shrestha are tied at third place with 100 points. Aditi Ghimire is at seventh with 64 points. Ang Dorjee Sherpa, Rekha Ghimire and Mahesh Bikram Karki are tied at eighth place with with 60 points. </div> <div> </div> <div> There will be 10 medal rounds played till the month of October. Top 30 players will compete over two rounds for the club championship in November and December. Top three gross scorers shall also qualify for the final medal rounds.</div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Daman B Ghale has won the Surya Nepal Gokarna Monthly Medal played at Gokarna Golf Club on Saturday. Ghale scored five-under 67 to register victory of one stroke over Tenzing Palden who produced a score card of 4-under 68.', 'sortorder' => '1348', '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' => '1486', 'article_category_id' => '99', 'title' => 'Thai Airways’ Fam Trip', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Thai Airways International Public Company Limited organized a Fam Trip for the top seven travel agencies in Nepal on 7th July 2013. The 6-day trip included the exploration of “The Sanctuary of Truth, Damnern Saduak and Rose Garden, and Dinner Cruise on ‘Loy Nava’ in Pattaya and Bangkok. In addition to this, Amari Orchid Pattaya and Novotel Bangkok Ploenchit Bangkok organized the inspection of hotel.</div> <div> </div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'Thai Airways International Public Company Limited organized a Fam Trip for the top seven travel agencies in Nepal on 7th July 2013.', 'sortorder' => '1347', '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' => '1485', 'article_category_id' => '99', 'title' => 'Nepal As MICE Destination Discussed', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">Nepal Tourism Board (NTB) has started negotiations with tourism associations and experts to adopt a strategy to promote Nepal as a MICE (Meeting, Incentive, Conference and Exhibition) destination. NTB held discussion with the representatives of five and four Star hotels on 15 July for the purpose. </span></div> <div> </div> <div> “Prior to this, we were solely dependent on the individual overseas tour operators to promote Nepal but we will now all be working together to penetrate new segment of a market that has great potential,” said Subash Nirola, Officiating Chief Executive Officer of NTB. NTB has asked the hotels to form a consortium so that it would be easy to explore, promote and support MICE tourism. The hotels were also requested to provide the modality for concert market and promotion plan in the focused and targeted market</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Tourism Board (NTB) has started negotiations with tourism associations and experts to adopt a strategy to promote Nepal as a MICE (Meeting, Incentive, Conference and Exhibition) destination.', 'sortorder' => '1346', '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' => '1484', 'article_category_id' => '99', 'title' => 'Niraula Appointed NTB’s Acting CEO', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/Subash%20Niraula.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 90px; height: 118px;" />Subash Niraula is appointed as the Acting Chief Executive Officer of Nepal Tourism Board by the 187th meeting of Executive Committee of the Board held on 15 July. With this, Niraula has now also become the Member Secretary of Nepal Tourism Board. Prior to this, he had been working in the capacity of Officiating Chief Executive Officer of Nepal Tourism Board. Niraula had joined Nepal Tourism Board as the Director in 1999 and was senior most Director prior to being appointed as Officiating CEO. </span></div> <div> </div> <div> Niraula said that the appointment has given him more challenge and responsibility, and he is fully determined to steer Nepal Tourism Board in a positive direction.</div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => 'Subash Niraula is appointed as the Acting Chief Executive Officer of Nepal Tourism Board by the 187th meeting of Executive Committee of the Board held on 15 July.', 'sortorder' => '1345', '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' => '1483', 'article_category_id' => '99', 'title' => 'Hogan Named Aviation Industry’s Executive Leader Of The Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 12px;">James Hogan, President and CEO of Etihad Airways, has won the Executive Leadership category at the annual Airline Strategy Awards held in London.The award was announced at a ceremony held at the Honourable Society of Lincoln’s Inn and attended by hundreds of senior airline executives from around the world. </span></div> <div> </div> <div> “I am very honoured to have been recognised by fellow leaders within the global aviation industry and this is a great accolade for all of us at Etihad Airways and our shareholders in Abu Dhabi. The Executive Leadership Award was chosen by a panel of expert judges from the aviation industry after a thorough examination of Etihad Airways’ performance in the last 12 months. In-depth analysis was conducted on the airline’s increased profitability, industry leading growth and unique new partnership strategy with other air carriers.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'James Hogan, President and CEO of Etihad Airways, has won the Executive Leadership category at the annual Airline Strategy Awards held in London.', 'sortorder' => '1344', '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' => '1482', 'article_category_id' => '99', 'title' => 'Qatar Upgrades Capacity On Istanbul Route', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 12px;">Qatar Airways has upgraded its capacity on its Istanbul - Doha route with an Airbus A330 aircraft. As of 1 July, the introduction of the new wide-body aircraft results in an increased capacity on flights to Istanbul by 166 seats per day, a nearly 50 per cent increase. All flights on the Doha – Istanbul routes will be operated with an Airbus A330, featuring a two-class configuration, including up to 24 seats in Business Class and up to 258 seats in Economy Class. The aircraft offers seatback TV screens providing passengers with interactive onboard entertainment system and a choice of more than 1000 audio and video on demand options. </span></div> <div> </div> <div> “We are absolutely delighted to introduce a wide body aircraft on our Istanbul route, which will provide our passengers extra capacity and an optimised level of service and comfort,” said Qatar Airways Chief Executive Officer Akbar Al Baker.</div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Qatar Airways has upgraded its capacity on its Istanbul - Doha route with an Airbus A330 aircraft.', 'sortorder' => '1343', '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' => '1481', 'article_category_id' => '157', 'title' => 'New Italian Show At Alfresco', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Alfresco, Italian restaurant at Soaltee Crowne Plaza has introduced a new menu. The restaurant located near the poolside is one of the popular Italian dining destinations in Kathmandu. According to Balaram Pathak, Food and Beverage Director of the Hotel, the restaurant serves authentic Italian cuisine, and the menu is changed to cater to the Italian cuisine enthusiasts. The menu of the restaurant is changed after one and a half years. </div> <div> </div> <div> Italian cuisine has Roman, Greek and Arabian influences, and is known for the use of fresh ingredients. The new menu at Alfresco flaunts delicacies from the southern Italian regions of Sicily, Sardinia and Livorno. </div> <div> </div> <div> The new menu has on it delectable starters like smoked salmon and crispy lettuce with parmesan flakes and shallow fried prawns marinated in garlic and herbs among other exotics. The choices for salads include Caesar salad, spicy mushroom salad and Panzanella, a salad with bread and tomatoes. Oven roasted pumpkin soup, smoked bacon, kernel corn and brown onion, traditional prawn, squid and Tuscan beans are the new selection of soups. </div> <div> </div> <div> For main course too, there are numerous flavorsome choices. Cannelloni, lasagna, spinach Fettuccine with seafood, risotto and others are pasta varieties on the menu. Salmon steak, tiger prawns, grilled fresh water Himalayan trout, varieties of chicken and fish preparations are other mouth-watering culinary delights. Alfresco also boasts of a fine assortment of wines to complement the food served. </div> <div> </div> <div> To wrap up the meal, Alfresco offers gelatos, tiramisu, pannacotta, melting chocolate with volcanic touch and cassata. All in all, Alfresco’s new menu covers the best Italian cuisine has to offer. Visit once to tantalize your palate. Bon Appétit!</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Alfresco, Italian restaurant at Soaltee Crowne Plaza has introduced a new menu. The restaurant located near the poolside is one of the popular Italian dining destinations in Kathmandu.', 'sortorder' => '1342', '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' => '1480', 'article_category_id' => '152', 'title' => 'Focus Briefs (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Upper Trishuli – A (216 MW) </strong></span></div> <div> Nepal Water and Energy Development Company is the developer of the 216 MW Upper Trishuli A project. The major stakeholders of the project are Korea South East Electric Company (50%), Kyeryong Construction (10%) and Nepali Investors (10%), Daelim Industrial Company (15%) and International Finance Corporation (15 %). The 216-MW Upper Trishuli-I is a mega hydropower project which requires lot of time, energy and resources to conduct environmental assessments and make other necessary preparations including financial closure. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Upper Marsyangdi (600 MW) </strong></span></div> <div> GMR Group has acquired 80 per cent stake in Himtal Hydropower Company Pvt Ltd which is developing the 600 MW Upper Marsyangdi Hydro Electric Project on the Marsyangdi River in Nepal. The plant is scheduled to be commissioned by the end of 2016. Himtal Hydro Power Company Pvt Ltd is developing ‘The Upper Marsyangdi-2 Hydroelectric Power’ project. This run-of-river type development is located in the districts of Lamjung and Manang, aiming to fully utilise the power potential of the Marsyangdi river. The proposed location of the dam – utilising a gross head of about 627.67 m – is just upstream of Tal village in Manang District, about 45 km upstream of Besisahar. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Tamakoshi – III (650 MW) </strong></span></div> <div> SN Power was awarded the Survey Licenses in March 2007 by the Government of Nepal to develop the Tamakohsi 2 (207 MW) and Tamakoshi 3 (275 MW) Hydroelectric projects in the Tamakoshi River of Dolakha district. Based on a concept study results, SN Power applied for and was awarded an amended license for a single 600 MW daily peaking run-of-river project to be called the Tamakoshi 3 project. The TA 3 HEP is planned for the Tamakoshi River stretch between Singati bazaar and approximately 100 meter above Tamakoshi bridge at Kirnetar. The technical feasibility of the project has been performed in the range from 600 to 1320 MW. The Feasibility Study for this project is in the final stage of completion. Power will be evacuated at Dhalkebar. The bulk of the power is expected to be exported to India after supplying the domestic demand on a commercial basis. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Upper Karnali (900 MW) </strong></span></div> <div> A consortium comprising GMR Energy Limited, GMR Infrastructure Limited (GIL) and Italian-Thai Development Project Company signed a Memorandum of Understanding (MoU) with the Government of Nepal, for developing the 900 MW Upper Karnali Hydro electric Project, in Nepal. The project will be developed on a Build, Own, Operate and Transfer (BOOT) basis. The MoU signing successfully concluded the first ever International Competitive Bidding (ICB) process of award of large hydropower projects in Nepal, which followed a rigorous multi-layered evaluation process, lasting 12 months. The plant is scheduled to be commissioned by the end of 2016. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Arun – III (900 MW) </strong></span></div> <div> The government awarded the 900 MW Arun III Hydropower Project to the Sutlej Jal Vidyut Nigam Ltd (SJVN), India´s state-owned power producer, after the company demonstrated financial capability to bring in Rs 82.5 billion for the development of the project. Arun III is a run-of-the-river project based in Sankhuwasava district and SJVN was selected to prepare its detailed project report (DPR) and develop the project through a global bidding in 2008.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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' => 'GMR Group has acquired 80 per cent stake in Himtal Hydropower Company Pvt Ltd which is developing the 600 MW Upper Marsyangdi Hydro Electric Project on the Marsyangdi River in Nepal.', 'sortorder' => '1341', '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' => '1479', 'article_category_id' => '153', 'title' => 'Hydropower Developers Pursue Favourable PDA', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The hydropower promoters of the private sector have designed a template for the Project Development Agreement (PDA) and handed it over to the government. They have said that this draft reflects their concerns. Earlier, the Ministry of Energy had prepared a PDA template a year ago, meant for hydropower projects of below 500 MW capacity. The private sector wants that revised. </div> <div> </div> <div> “We have submitted a PDA draft by incorporating the concerns of the private sector,” said Dr Subarna Das Shrestha, President of Independent Power Producers’ Association, Nepal (IPPAN). He added, “We hope that the government will incorporate the suggestions of the private sector while finalising the PDA template it is developing on its own.” </div> <div> </div> <div> Bishwa Prakash Pandit, Secretary at the Ministry of Energy (MoE), while receiving the PDA draft prepared by IPPAN, said, “The PDA draft will be finalised bearing in mind the concerns of the hydropower promoters and national interest.” He further added that the PDA draft will be developed in a manner which will be helpful to attract foreign investment. </div> <div> </div> <div> Meanwhile, the Investment Board (IB) Nepal said a PDA template is being worked out which will have provisions requiring the hydropower promoters to pay compensation for failing to meet project deadline. The provisions in the PDA template will also require hydropower promoters to give due attention to environmental concerns and provide employment to locals among other things. </div> <div> </div> <div> <strong>Negotiations with Hydropower Developers </strong></div> <div> While the MoE plans to start PDA negotiations with hydropower developers building projects below 500 MW, the IB has been conducting PDA negotiations with three foreign power developers. Even though the MoE had made a PDA draft for hydropower projects below 500 MW and tried to start negotiations with the concerned hydropower developers, the process was stalled after most of the developers expressed reservations over the PDA draft. The developers had then said that it was not a sound proposition technically as well as financially. </div> <div> </div> <div> Earlier, two separate PDA templates were prepared to hold negotiations with hydropower developers — one made by the MoE for hydropower projects below 500 MW and the other made by the IB for projects above 500 MW capacity. However, the MoE was instructed to use the PDA template formulated by the IB. The MoE then started to prepare the same PDA template for hydropower projects below 500 MW capacity, confirmed Keshav Dhoj Adhikary, Head of the PDA negotiation committee at the MoE. The PDA negotiation committee formed by the MoE comprises representatives from the Finance Ministry, Ministry of Law and the Nepal Electricity Authority (NEA). </div> <div> </div> <div> <strong>Six Applicants of Below 500 MW</strong></div> <div> As of the third week of March this year, a total of six hydropower projects with a collective capacity of 1,130 MW had applied to the Department of Electricity Development (DoED) for the PDA. The six projects are namely Middle Bhote Koshi – I (40 MW), Upper Marsyangdi – A (50 MW), Kali Gandaki Gorge (164 MW), Upper Trishuli – A (216 MW), Budhi Gandaki – II (260 MW) and Lower Arun (400 MW). </div> <div> </div> <div> Of the six PDA applicants, Upper Trishuli – A is the first to pay the PDA fee while submitting the required documents. As per the PDA Procedure 2013, hydropower developers have to pay US$ 1,500 per MW as processing fee to sign the PDA. If the government refuses to sign the agreement even after the payment of the fee, the amount has to be refunded. </div> <div> </div> <div> The PDA is a vital contract between the government and the investors. The government assures the investors, through the agreement, that it would avert all possible social, economic and policy-level uncertainties during the construction phase of projects. Generally, issues related to taxes, licence period, free energy, royalty, repatriation rights and parties’ obligations are included in the PDA. </div> <div> </div> <div> <strong>PDA for Big Hydro Projects </strong></div> <div> The secretariat of the Investment Board expedited finalisation of the PDAs for four mega-hydropower projects earlier this year. It was expected to provide a much needed impetus to enable negotiations on four priority projects that have a combined capacity to produce 3000 MW of electricity. The four mega hydro projects are namely Upper Marsyangdi (600 MW), Tamakoshi – III (650 MW), Upper Karnali (900 MW) and Arun – III (900 MW). </div> <div> </div> <div> NIB, which was established more than a year ago to expedite the implementation of mega-projects including hydropower (above 500 MW) in a fast-track mode, is developing a PDA template with the help of Herbert Smith, a legal advisor based in London. </div> <div> </div> <div> <strong>Uniform PDA for All Projects </strong></div> <div> As stated earlier, there were two separate PDA templates made by the MoE and the IB to hold negotiations respectively with hydropower developers of below 500 MW and for projects above 500 MW capacity. However, the government later decided to have a uniform PDA template while negotiating with the foreign companies developing hydro power projects of all capacities. </div> <div> </div> <div> With this decision taken earlier this year, the IB and the MoE planned to negotiate with foreign developers on the basis of a single PDA model. The MoE then said that it will negotiate with foreign developers of less than 500 MW capacity on the basis of the PDA template prepared by the IB. As per the IB Act, hydropower plants with a capacity of 500 MW and above came under the board’s purview. </div> <div> </div> <div> The ministry said a uniform PDA model was to be brought into effect to prevent any confusion and prejudice while dealing with the various power developers. It concluded that since both the MoE and the IB were dealing with foreign hydro power developers, there was no need for two different models of PDA. It led the MoE to form a committee to synchronise the two PDA templates and begin negotiations with developers which meet the criteria. </div> <div> </div> <div> It further clarified that despite the PDA template being the same, there might be separate provisions for different projects based on their respective capacity, volume of investment and number of beneficiaries. </div> <div> </div> <div> It must be noted that after the formation of the IB over one-and-a-half years ago, the government entrusted it with developing large hydropower projects above 500 MW while the MoE was assigned hydropower projects of less than 500 MW capacity. </div> <div> </div> <div> Experts said that Nepal has an opportunity to bring in US$ 6 billion in foreign direct investment, create new opportunities for Nepali businesses and the Nepali labour force. Taking concrete steps to unlock the country’s vast hydro potential and solve the load shedding problem is expected to address Nepal’s biggest obstacle to investment, business development and economic growth.</div> <div> </div> <div> <img alt="List of Issued Survey Licenses (Above 200 MW)" src="/userfiles/images/survey%20license.jpg" style="width: 600px; height: 365px;" /></div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-24', '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' => 'Private sector hydropower promoters have suggested the government to develop a Project Development Agreement (PDA) template that is acceptable to banks, meets international standards and is immune to changes in the law.', 'sortorder' => '1340', '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' => '1478', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (22-28 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Special Meeting Okays RBB Share Conversion </strong></span></div> <div> The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares. With the conversion, RBB’s paid-up capital has reached Rs 8.58 billion. </div> <div> </div> <div> The SGM approved the capital restructuring through an amendment to the bank’s MoA and AoA as proposed by RBB Chairman Narahari Dhakal. After this, the bank’s capital adequacy ratio stands at 3 percent for the first time as of mid-July, which is still far below the minimum requirement of 10% set by Nepal Rastra Bank. The bank had planned to increase its core capital to Rs 8.5 billion in its capital plan which has now been attained. The government had earlier injected Rs 4.32 billion in the bank to increase its paid-up capital. </div> <div> </div> <div> The bank had received the Nepal Rastra Bank (NRB) approval for its three-year capital plan in mid-April last year. However, the bank’s proposed Rs 12.5 billion capital plan will not be enough to meet capital adequacy which require Rs 14 billion. Earlier, the government had directed RBB and NIDC Development Bank to merge in order to manage the necessary capital. However, the merger has not taken place particularly due to NIDC’s reluctance. </div> <div> </div> <div> Announcing the government budget for the fiscal year 2013-14, the Finance Minister has announced a plan to upgrade NIDC Development bank to an Infrastructure Development Bank. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NLG Shares Listed </strong></span></div> <div> NLG Insurance Company Limited and Nepse signed an agreement on July 9 to list 2,250,000 units of ordinary shares of NLG. Trading in those shares in the secondary market started on 16 July 2013. These shares were issued as IPO in 29 March 2013.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '2013-07-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday, July 14 approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary shares.', 'sortorder' => '1339', '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' => '1477', 'article_category_id' => '109', 'title' => 'Bullish Start To New Fiscal Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week). The Nepse index dropped by 8.97 points on Tuesday, 16th July closing at 509.36 but again regained and reached 521.60 at the close of Thursday, 18th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the hydro-power sub-index increased the highest by 47.84 points closing at 1113.12 points with an increase in share price of Chilime Hydropower by Rs 50 per share during the week. That was followed by the insurance companies sub-index which increased by 38.22 points. The ‘others’ sub-index dropped by 23.49 points closing at 646.19. The share price of Nepal Telecom dropped to Rs 539 per share on July 17 (Wednesday) which forced the sub-index to drop heavily from high of Rs 596 on July 15. </div> <div> </div> <div> Similarly, NIC Asia Bank topped in price increment during the week. The share price of the bank closed at Rs 669 with an increase of Rs 60 per share, followed by share price of Everest Bank (increased by Rs 59 per share) which also helped to boost the commercial bank sub-index. </div> <div> </div> <div> Shares of 120 companies were traded at Nepse during the week through 4,225 transactions amounting to Rs 393,575,000. The share price of 70 companies increased while 27 companies lost price and 23 companies remained unchanged. The transaction amount of the week is 11.89 percent higher than that of earlier week. The total number of scrips traded was1, 269,584 which is less by 550,407 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 279,371,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 2,408,732 scrips of the fund were traded during the week. </div> <div> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (3339). </div> <div> </div> <div> Similarly, a total of 200,000 bonus shares of Excel Development Bank were listed during the week.</div> <div> </div> <div> <img alt="Bullish Start" src="/userfiles/images/Bullish%20Start.jpg" style="width: 600px; height: 172px;" /></div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 535.72 points on Sunday (July 21). The index increased by 14.19 points from the Thursday (July 18) close. All sector sub-indices saw an increment during the day. Insurance sub-index had the highest increment by 36.38 points, closing at 992.96 points. A total of 533,233 shares was traded from 1621 transactions during a day. Market operation were suspended for 15 minutes due to heavy buying pressure.</div> <div> </div> </div> <p> </p>', 'published' => true, 'created' => '2013-07-23', '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' => 'Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week).', 'sortorder' => '1338', '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' => '1476', 'article_category_id' => '109', 'title' => 'Nepse Yearly Review', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> The stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent. </div> <div> </div> <div> The benchmark index had reached the highest on February 17, 2013 at 555.93 points, while the lowest record for the fiscal year was on July 16, 2012 (the opening day) at 384.92 points. The index crossed 500 points on November 20, 2012 closing at 501.52 points. This was the first time the benchmark index had crossed the 500-point mark in over two-and-half years. </div> <div> </div> <div> Compared to the turnover of Rs 10,162 billion of preceding fiscal year 2011-12, this year the turnover rose by a hefty 98.12% to stand at Rs 20,133 billion. Similarly, the listing and transactions of new commercial banks like Civil Bank and Commerce and Trust Bank and other companies, as well as relisting and transaction of Nepal Bank Limited helped market capitalization make a huge leap of 39.71% to stand at Rs 514,492.13 million on the close compared to Rs 368,262.13 million in the last fiscal. </div> <div> </div> <div> At the beginning of the last fiscal year, the one-third budget brought through ordinance by the then government failed to create any positive impact in the market. But the Nepal Rastra Bank’s approval to banks and financial institutions margin lending and loan against purchase receipt of shares eased liquidity in the market helping the share prices to go up. </div> <div> </div> <div> Likewise, introduction of mutual fund guideline by the Securities Board of Nepal (SEBON) paved the way for the launching of Siddhartha Growth Mutual Fund-I worth Rs 500 million and Nabil Balanced Fund-I worth Rs 750 million which created a positive impact in the market. </div> <div> On the other hand, delay in the implementation of Central Depository System (CDS) has failed to live up to the high expectations that the investors had. </div> <div> </div> <div> The consensus among political parties to form a government led by Chief Justice Khil Raj Regmi brought new rhythm in the market. The announcement resulted in the third highest turnover worth Rs 238 million on February 12, 2013, forcing a 5% circuit breaker on February 17, 2013, after nine months gap at Nepse floor. The Nepse index that day touched the highest point of the year closing at 545.72 points. </div> <div> </div> <div> Again, the provision allowing offloading of promoters share directly through secondary market, technical glitches in the Nepse website and broker terminals and increase in the number of broker suspensions for their failure to pay the dues affected the market negatively causing a drop on the Nepse index to 490.53 points. </div> <div> Meanwhile, listing and transaction of merged companies like Global IME Bank, NIC Asia Bank and others also played a part in turning the market on. </div> <div> </div> <div> Appointment of a new General Manager at Nepse at the end of the fiscal year has created a positive vibe among investors, raising hopes that long stalled projects and programmes would now be implemented.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', '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 stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent.', 'sortorder' => '1337', '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' => '1475', 'article_category_id' => '113', 'title' => 'US Dollar Exchange Rate At Local Market (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="Us Dollar Exchange Rate at local Market" src="/userfiles/images/us%20dollar%20exchange%20rate.jpg" style="width: 600px; height: 359px;" /></p>', 'published' => true, 'created' => '2013-07-22', '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' => 'US Dollar Exchange Rate At Local Market (15-21 July 2013)', 'sortorder' => '1336', '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
