…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
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' => '1428', 'article_category_id' => '151', 'title' => 'Experiential Learning At Toastmasters', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Ashok Poudel</strong></div> <div> </div> <div> E very individual wants to be smart, confident, a good speaker and a better leader. We manage to get into a profession through our educational accomplishments, but we may lack certain speaking, leading and communicating skills that may have been overlooked by the education system. However, there are certain organisations and clubs established to nurture them, among which Toastmaster International is one. </div> <div> </div> <div> Toastmaster was established in 1924 with the mission to provide a mutually supporting and positive learning environment. Every member at Toastmaster has the opportunity to develop communication and leadership skills which helps to foster self-confidence and personal growth. It has now been an international organisation with nearly three hundred thousand members. Around four million people have become more confident speakers and leaders because of their participation in Toastmasters till the date from its establishment. </div> <div> </div> <div> In Nepal, four Toastmaster clubs are in operation as sub-divisions of Toastmaster International. They are Himalaya Toastmasters, Kathmandu Toastmasters, Everest Toastmasters and Sangrila Toastmasters, which opened recently. Many people have been thankful to the organisation as the skills they have learned from it have helped them stand out. </div> <div> </div> <div> There are no instructors in a Toastmasters meeting--a session where 30-40 people participate. Instead, members evaluate each other’s presentations and give feedback. This process is a key part of the program’s success. The participants also give impromptu talks on assigned topics, conduct meetings and develop skills related to timekeeping, grammar and parliamentary procedure. Members learn communication skills by working on the competent communication manual, a series of 10 self-paced speaking assignments designed to instill a basic foundation in public speaking. Members also learn leadership skills by taking on various roles and working on the competent leadership manual. This learn-by-doing approach does not lecture members about leadership skills, but gives them a share of responsibilities they have to carry out. </div> <div> </div> <div> President of Himalaya Toasmasters club (HMC), Nisi Khetan believes that Toastmasters boosts self-confidence encourages one to be a leader and an effective communicator. Bipul Raj, a member from the Himalaya Toastmasters Club shares his experience with great pleasure and satisfaction that Toastmasters have helped boosts his confidence over communication and leadership skills.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', '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' => 'There are no instructors in a Toastmasters meeting--a session where 30-40 people participate. Instead, members evaluate each other’s presentations and give feedback.', 'sortorder' => '1290', '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' => '1427', 'article_category_id' => '108', 'title' => 'News In Brief (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Ahluwalia new CEO of Everest Bank</strong><br /> <br /> AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.<br /> <br /> <strong><img alt="nbdbank" src="/userfiles/images/NMB.jpg" style="width: 220px; height: 73px; margin: 10px;" /><br /> <br /> NMB Sulav Investment Fund-I Coming</strong><br /> <br /> NMB Bank is bringing ‘NMB Sulav Investment Fund-I’ in first quarter of the coming Nepali fiscal year. The Rs 60 million fund is closed-end are with five years maturity period. The bank is going to invest 60 percent of the fund on shares and 40 percent on debentures. The unit holders are promised 12 percent annual return. NMB Capital Limited has been appointed as the issue manager of the fund.<br /> <br /> <br /> <br /> <img alt="banijya" src="/userfiles/images/banijya.jpg" style="width: 203px; height: 78px; margin: 10px;" /><br /> <strong>RBB Dullu Branch Reinstated</strong><br /> <br /> Rastriya Banijya Bank reinstated its Dullu Branch on Tuesday (July 9). The branch was inaugurated by Nepalgunj Regional Office Chief Bir Banahur Chand.<br /> <br /> <br /> <br /> <img alt="ndep" src="/userfiles/images/NDEP.jpg" style="width: 128px; height: 112px; margin: 10px;" /><br /> <br /> <img alt="hama" src="/userfiles/images/HAMA.jpg" style="margin: 10px; width: 197px; height: 72px;" /><br /> <strong>NDEP Hama Merger Cancelled</strong><br /> <br /> The merger process between Hama Merchant and Finance Ltd and NDEP Development Bank has been cancelled. The reason for the decision is to open the path to merge both of these BFIs with Prabhu Finance, says the sources. To further strengthen capital position and consolidate its presence on the market, Prabhu Finance has simultaneously initiated merger talks with NDEP Development Bank and Hama Merchant Bank.<br /> <br /> <img alt="Hama Merchant Finance" src="/userfiles/images/NepalBank.jpg" style="width: 147px; height: 119px; margin: 10px;" /><br /> <br /> <strong>NBL Right Shares Undersubscribed</strong><br /> <br /> The rights shares issued by Nepal Bank has fallen 8 percent short of being fully subscribed as the money collected by the end of closing day was only 92 percent of the total issue. As per a press statement, the bank will sell the remaining shares in a manner prescribed in the law. The bank got Rs 1.40 billion worth of applications for the rights shares from the government alone, which has 38.6 percent stake in the bank. Likewise, it collected Rs 1.93 billion from other shareholders who own 61.4 percent stake in the bank. The total collection from this rights issue stands at Rs 3.33 billion.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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' => 'AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.', 'sortorder' => '1289', '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' => '1426', 'article_category_id' => '109', 'title' => 'Trade Deficit Above Rs 400 Billion', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> The trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year. The high dependency on India for petroleum products is cited as the cause for the heavy increase in trade deficit with India. However, Trade and Export Promotion Centre (TEPC) brought about a slightly different report on the same day with trade deficit figure of Rs 4.8 billion.<br /> <br /> According to NRB, the workers’ remittances rose by only 21.3 percent to Rs. 388.46 billion compared to an increase of 39.6 percent in the same period of the previous year. In USD terms, remittance inflow increased by 11.8 percent to USD 4.45 billion during the review period compared to an increase of 25.2 percent in same period of the previous year. As per NRB, due to high growth of imports compared to exports, the ratio of export to import declined to 13.7 percent in the review period from 16.0 percent a year ago.<br /> <br /> The gross foreign exchange reserves in USD terms increased by 11.3 percent to USD 5.52 billion in mid-June 2013. Such reserves had increased by 25.6 percent in the same period of the previous year. Likewise, during eleven months of 2012/13, the inconvertible foreign exchange reserves increased by 17.6 percent to Indian Rupees 71.0 billion. Such reserves had increased by 89.7 percent during the same period of the previous year. On the basis of trend of import during the eleven months of the current fiscal year, the current level of reserves is sufficient for financing merchandise imports of 11.3 months and merchandise and service imports of 9.7 months, says NRB.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year.', 'sortorder' => '1288', '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' => '1425', 'article_category_id' => '109', 'title' => 'NBA Demands NRB To Relax Its Directives', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.<br /> <br /> They have also asked for relaxation on the requirement to increase their lending to manufacturing, agriculture and energy sectors. While earlier directive of the NRB requires them to have 20 percent of their loan outstanding on manufacturing sector by mid- July 2013, want the deadline extended till mid- July 2016. Similarly, they want NRB to extend the deadline till mid-July 2017 for increasing their loan outstanding on agriculture and energy sectors to 10 per cent. Earlier, NRB directive has set mid-July 2014 to meet this target. The bankers have also asked for reduction on the minimum amount of bank lending required to be in the deprived sector. They want this amount to be 3.5 percent instead of NRB’s earlier requirement of 4 percent.<br /> <br /> The association has also demanded for starting operation of Asset Management Company as soon as possible for the proper management of bad and doubtful loans. It has asked NRB also for taking up with the government the issue of implementing of Secured Transaction Act as soon as possible.Similarly, NBA has asked for permission to charge the customers for the cost incurred in cheque clearance through electronic clearance system. NBA has also asked NRB to increase the higher limit on Credit-Deposit Ratio (CD Ratio) from existing 80 percent to 85 percent.<br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.', 'sortorder' => '1287', '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' => '1424', 'article_category_id' => '109', 'title' => 'Nine BFIs Merged Into Three', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’. Similarly, Rara Bikas Bank, Royal Merchant Banking and Finance and Api Finance have merged to form ‘Apex Development Bank’. Also, the merger among Global IME Bank, Social Development Bank and Gulmi Development Bank has been approved.<br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’.', 'sortorder' => '1286', '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' => '1423', 'article_category_id' => '109', 'title' => 'Nepse On Bullish Trend With Mid-July Effect', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rashesh Vaidya</strong><br /> <br /> Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points. That was followed by the ‘others’ sector sub-index which increased by 23.49 points. As the market capitalization of Nepal Telecom increased heavily during the previous week, the ‘others’ sub-index saw a huge increment. The share price of Nepal Telecom increased by Rs 20 (closing at Rs 550) from a trading of 177,120 shares during the week.<br /> <br /> Similarly, increment in the share prices of Butwal Power Company and Chilime Hydropower Company by Rs 5 and Re 1 respectively caused increase in hydro-power sub-index. Decline in manufacturing and processing sub-index by 9.91 points during the week was due to the decline in share price of Unilever Nepal Ltd by Rs 200 per share closing at Rs 9800.<br /> <br /> As the closing of the fiscal year was coming nearer, investors are attracted to generate the shares of banks and financial institutions (BFIs) from which they expect dividends. On-going merger trend among the BFIs and the historical trend of high return during Mid-July (Mid-July Effect) from the Nepali stock market are also seen boosting the Nepali investors’ confidence during the week.<br /> <br /> Shares of 119 companies were traded at Nepse during the week through 5,412 transactions amounting to Rs 446,668,000. The share price of 68 companies increased while of 27 companies declined and 24 companies remained unchanged. The transaction amount of the week is 17.9 percent higher than that of earlier week. The total number of scrips traded was1,819,991 which is higher by 66,457 scrips than that of earlier week.<br /> <br /> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 641,020,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 395,011 scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (531).<br /> <br /> Similarly, a total of 920,000 right shares of Sewa Bikas Bank, and 2,250,000 ordinary shares of NLG Insurance, 40,000bonus shares of Seti Finance and 400,000 debentures of Bank of Kathmandu were listed during the week.<br /> <br /> <br /> <strong>Nepse on Sunday</strong><br /> <br /> Nepse Index closed at 511.07 points on Sunday (July 14). The index increased by 4.62 points from the Thursday (July 11) close. All the sectors sub-indices saw increment during the day. Hydro-power sub-index increased the highest by 23.85 points closing at 1065.28 points. Total of 225,296 shares were traded from 817 transactions during the day. Similarly, trading on stock symbol “NICA” has started after successful merger between NIC Bank Ltd and Bank of Asia Nepal Ltd forming NIC Asia Bank.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-25', '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 increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points.', 'sortorder' => '1285', 'image' => '1373893312.jpg', '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' => '1422', 'article_category_id' => '144', 'title' => 'Losing Currency', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The sharp decline in the value of the Nepali rupee in recent days has led to a clamour for the government to do something. This time, Nepal’s current currency depreciation has been created not due to Nepal’s own reason but due to pegged exchange rate with Indian currency. So, it is high time that the government dares to decide to discontinue pegged exchange rate with Indian currency. </span></div> <div> </div> <div> Though the continuous fall of the value of rupee has raised serious concern in India itself and the Indian government may do something to control the value of Indian rupee, Nepal should not just wait India’s action. It should do something on its own, if it is following an independent monetary policy. Otherwise, it may do better by declaring the Indian repee as its legal tender. </div> <div> </div> <div> The government and business community have had very little discourse about the problem and possible way out to control rupee depreciation. </div> <div> </div> <div> Countries with their currency pegged with another country’s currency are normally known to have weak capital markets and financial regulating mechanisms. In such a scenario, the peg helps create stability in the economy. Citing these very reasons, policymakers, politicians and even business community in Nepal have always favoured to have the pegged exchange rate with Indian Currency. </div> <div> </div> <div> But the recent massive depreciation of Indian currency has thrown all these logics out of the window and the situation calls for a serious debate on whether Nepali rupee should maintain the peg system. </div> <div> </div> <div> Theoretically, devaluation of currency is beneficial for exports, but in Nepal’s case that theory cannot apply as the country is heavily dependent on imports to meet consumer demand as well as for industrial raw material. Nepal exported merchandise worth Rs 69.93 billion during eleven months of 2012-13 while it imported goods worth Rs 508.60 billion, according to Current Macroeconomic Situation of Nepal released by Nepal Rastra Bank (NRB). </div> <div> </div> <div> The data clearly shows that Nepal has huge trade deficit and depreciation of rupees will have much more adverse impact on Nepali economy than would be the case in a country with relatively better trade balance. </div> <div> </div> <div> The pegging regime has both advantages and disadvantages. It helps to keep the fragile economy stable. But one never knows the real economic scenario of the country under such fixed exchange system. The Mundell-Fleming model, best known for its anti-pegged exchange rate philosophy, says that fixed exchange rate system restricts the effectiveness of having an independent monetary policy to achieve macroeconomic stability. </div> <div> </div> <div> In light of the Indian currency crisis, Nepal is desperately looking for best option to keep Nepali rupee stable. It is difficult to find a good solution to it as long as the pegged exchange rate system is not done away.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The sharp decline in the value of the Nepali rupee in recent days has led to a clamour for the government to do something.', 'sortorder' => '1284', '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' => '1421', 'article_category_id' => '145', 'title' => 'The Right Green Industrial Policies', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Dani Rodrik</span></strong></div> <div> </div> <div> The future of our planet depends on the world economy’s rapid transition to “green growth” – modes of production based on clean technologies that significantly reduce emissions of carbon dioxide and other greenhouse gases. Yet carbon remains badly mispriced, owing to fossil-fuel subsidies and the absence of tax revenues needed to address the global externalities of climate change. </div> <div> </div> <div> In this context, subsidies that promote the development of green technologies – wind, solar, bio-energy, geothermal, hydrogen, and fuel-cell technologies, among others – are doubly important. First, they nudge pioneers to invest in uncertain, risky ventures, with the resulting research-and-development efforts generating highly valuable social benefits. Second, they counter the effects of carbon mispricing on the direction of technological change. </div> <div> </div> <div> These two considerations provide mutually reinforcing reasons for governments to nurture and support green technologies. Such support has, in fact, become extensive, both in advanced and emerging economies. Look around these economies and you will find a bewildering array of government initiatives designed to encourage renewable-energy use and stimulate green-technology investment. </div> <div> </div> <div> Although full pricing of carbon would be a far better way to address climate change, most governments apparently prefer to rely on subsidies and regulations that increase the profitability of investments in renewable energy. Often, the authorities’ motive seems to be to give domestic industries a leg up in global competition. </div> <div> </div> <div> Normally, we would consider these competitive motives to be beggar-thy-neighbor in nature. Market-share considerations are zero-sum from a global standpoint in traditional industries, and any resources invested in generating national gains come at the cost of global losses. </div> <div> </div> <div> But in the context of green growth, national efforts to boost domestic green industries can be globally desirable, even if the motives are parochial and commercial. When cross-border spillovers militate against taxing carbon and subsidizing technological development in clean industries, boosting green industries for competitive reasons is a good thing, not a bad thing. </div> <div> </div> <div> Opponents of industrial policy rely on two arguments. The first is that governments do not have the information needed to make the right choices about which firms or industries to support. The second is that once governments are in the business of supporting a particular industry, they become vulnerable to rent-seeking and political manipulation by well-connected firms and lobbyists. In the United States, the 2011 bankruptcy of Solyndra – a solar cell manufacturer that folded after having received more than a half-billion dollars in government loan guarantees –seems to illustrate both failures. </div> <div> </div> <div> In reality, the first of these arguments – lack of omniscience – is largely irrelevant, while the rent-seeking problem can be overcome with appropriate institutional design. Good industrial policy does not rely on governments’ omniscience and ability to pick winners; indeed, failures are an inevitable and necessary part of a well-designed program. </div> <div> </div> <div> While it is too early to reach a conclusive verdict on the US loan-guarantee program, it is clear that the Solyndra case cannot be properly evaluated without taking into account the many successes that the program has spawned. Tesla Motors, which received a $465 million loan guarantee in 2009, has seen its shares soar and has repaid its loan early. An evaluation of US Department of Energy efficiency programs found that the net benefits amounted to $30 billion – an excellent return for an investment of roughly $7 billion over 22 years (in 1999 dollars). Interestingly, much of the positive impact resulted from three relatively modest projects in the building sector. </div> <div> </div> <div> Intelligent industrial policy requires mechanisms that recognize errors and revise strategies accordingly. Clear objectives, measurable targets, close monitoring, proper evaluation, well-designed rules, and professionalism provide useful institutional safeguards. As challenging as applying them may be, they constitute a much less formidable requirement than that of picking winners. Moreover, an explicit industrial policy – conducted self-consciously and designed with pitfalls in mind – is more likely to overcome the typical informational and political barriers than one that is implemented surreptitiously, as is too often the case. </div> <div> </div> <div> Green industrial policy can be damaging when national strategies take the form not of subsidizing domestic industries but of taxing foreign green industries or restricting their market access. The case of solar panels provides a cautionary tale. Trade disputes between China, on the one hand, and the US and Europe, on the other, have attracted much attention. Fortunately, this is the exception rather than the rule for green industrial policy. Trade restrictions have so far played a small role relative to subsidies to domestic industries. </div> <div> </div> <div> In practice, we are unlikely to get purely green industrial policy, which would focus solely on the development and diffusion of green technologies while excluding considerations of competitiveness, commercial gain, and employment growth. Indirect but politically salient objectives such as “green jobs” will most likely continue to present a more attractive platform for promoting industrial policy than alternative energy or clean technologies. </div> <div> </div> <div> From a global standpoint, it would be far better if concerns about national competitiveness were to lead to a subsidy war, which expands the global supply of clean technologies, rather than a tariff war, which restricts it. So far, we have been getting the former, though there is no way to determine whether, or for how long, this trend will continue. </div> <div> </div> <div> <span style="font-size:11px;"><em>(Dani Rodrik, Professor of Social Science at the Institute for Advanced Study, is the author of The Globalization Paradox: Democracy and the Future of the World Economy.) </em></span></div> <div> </div> <div> <em>Copyright: Project Syndicate, 2013.</em></div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'Green industrial policy can be damaging when national strategies take the form not of subsidizing domestic industries but of taxing foreign green industries or restricting their market access. The case of solar panels provides a cautionary tale. Trade disputes between China, on the one hand, and the US and Europe, on the other, have attracted much attention.', 'sortorder' => '1283', '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' => '1420', 'article_category_id' => '142', 'title' => 'Poll Update (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Vice Chairman of the CPN (UML) Bamdev Gautam" src="/userfiles/images/gautsm.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 117px;" /></div> <div> <strong style="font-size: 12px;">Timely Election is Crucial: Gautam </strong></div> <div> </div> <div> Vice Chairman of the CPN (UML) Bamdev Gautam has said that the country would turn into a failed state if the Constituent Assembly (CA) poll is not held on the scheduled date of November 19. Stating that the CPN-Maoist´s demand for the dissolution of the Khil Raj Regmi-led government is futile, he said their demands are not acceptable to his party. Gautam also said that his party is ready for the CA polls. “Our party cadres have already reached many constituencies and it is likely that we will win with a majority.” </div> <div> </div> <div> </div> <div> </div> <div> <strong>November Elections Impossible: Pokharel </strong></div> <div> <img alt="Former Chief Election Commissioner Bhojraj Pokharel " src="/userfiles/images/pokhrel.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 108px;" /></div> <div> Former Chief Election Commissioner Bhojraj Pokharel has said that an election in November is impossible because of the government and some political parties. “Old characters do not want change in the rules,’’ Pokharel said speaking at a programme in the capital. Pokharel suggested that a round table talk would be the solution to the on going problems. That should be followed by formation of regulations, and party registration within 45 days. He also claimed that the political parties and the election commission have already agreed secretly to conduct elections in April next year.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'November Elections Impossible:', 'sortorder' => '1282', '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' => '1419', 'article_category_id' => '141', 'title' => 'News In Brief (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Political Parties Most Corrupt in Nepal: TI Survey </strong></div> <div> </div> <div> A study conducted by Transparency International (TI) has found that political parties are the most corrupt among institutions in Nepal. Seventy percent of the total respondents surveyed in 58 municipalities in Nepal answered that political parties are the most corrupt, followed by public service and bureaucracy (66 percent), the police (58 percent), the parliament (51 percent), the judiciary (51 percent) and the private sector (30 percent) which made it to the top five positions. Questions regarding the lodging of complaints against corruption received positive answers from 61 percent of the respondents whereas the remaining 43 percent said they are not aware of any institution where such complaints could be filed. Thirty-nine percent of the respondents said they were not optimistic that action would be taken even if complaints were lodged. Likewise, 40 percent of the respondents said that they bribed officials for getting land-related problems solved. Thirty-seven percent claimed to have paid bribes for judicial services, whereas 30 percent revealed to have done the same with the police. </div> <div> </div> <div> <strong>Nepal to Send 260 Peacekeepers to Syria </strong></div> <div> </div> <div> The Cabinet on Thursday decided to send 260 Nepal Army personnel in war-ravaged Syria. The Nepali peacekeepers will work under the UN Supervision Mission in Syria (UNSMIS) which was set up in 2012. According to the Minister for Information and Communications, Madhav Prasad Paudel, the government has decided to dispatch 260 peacekeepers to Syria in two phases. The fist contingent of 130 NA personnel will reach Syria by the end of July, while the remaining will head for the country in September, Paudel said. Nepal has been contributing troops to UN peacekeeping operations since 1958. </div> <div> </div> <div> <strong>China didn’t Ask Us to Take Part in Election: Gajurel </strong></div> <div> </div> <div> CPN-Maoist Vice Chairman CP Gajurel, speaking at a programme organised in the Capital on Friday, said that his recent visit to China was not entirely focused on the issue of CA elections in Nepal. The Chinese authorities did not say anything about the election in Nepal for it was an internal issue. China, however, wants to see lasting peace and the end of the transitional phase, according to Gajurel. “The rumour that our party is close to China and distant from India is not true,” he added. Gajurel and his party Chairman Mohan Baidya had gone to China earlier this week upon invitation of the Community Party of China (CPC). </div> <div> </div> <div> <strong>Khursid’s Day-long Kathmandu Visit </strong></div> <div> </div> <div> Indian Minister for External Affairs Salman Khurshid visited Kathmandu on July 9 and returned to New Delhi on same evening. Khurshid met top leaders of UCPN (Maoist), Nepali Congress, CPN-UML and other Madhes-based parties in Kathmandu. He also met Chairman of the Interim Council of Ministers Khil Raj Regmi. A Memorandum of Understanding (MoU) was signed during the meeting to provide 764 vehicles for the upcoming Constituent Assembly (CA) election. Finance Secretary Shantaraj Subedi and Indian envoy Jayanta Prasad signed the MoU. </div> <div> </div> <div> <strong>Election Office Enlists Voters Even on Saturday </strong></div> <div> </div> <div> The Election Commission continued the task of enlisting voters even on Saturdays in all 75 districts due to high pressure of turnout. The commission has stipulated July 15 as the last day for enlisting names in voters´ lists across the country. Due to increasing numbers of prospective voters, the task will be performed even on Saturdays, said Bir Bahadur Rai, spokesperson of the commission.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'A study conducted by Transparency International (TI) has found that political parties are the most corrupt among institutions in Nepal.', 'sortorder' => '1281', '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' => '1418', 'article_category_id' => '152', 'title' => 'Focus Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Aaron Helmets & Accessories</strong><br /> <br /> Incorporated in the year 2007, Mutual Crafts Pvt Ltd is one of the leading names engaged in the manufacture and supply of high quality and wide range of motorcycle helmets. The company, that manufactures Aaron Helmets, provides both open face and full face helmets to its valued clients. Mutual Crafts has been able to carve a niche in the domestic as well as overseas markets through its dedicated services and quality products. Its wide range of products is widely appreciated for its strength, protective features and reliability. This selection of products is efficient in meeting safety and racing standards and also characterized with stylish designs. Further, the company also provides customization as per the requirements and specifications of its esteemed clients. Its highly qualified and dedicated team of professionals is able to provide utmost satisfaction with on-time delivery of the products. It ensures to deliver the products after comprehensive research and stringent tests to assert international standards of quality and safety. Mutual Crafts maintains an up-to-date infrastructure as a necessity towards maintaining quality product attributes. An ISI & ISO 9001:2008 Certified Company, Mutual Crafts is a Delhi, India based leading manufacturer, supplier and exporter of motorcycle helmets and offers a wide array of full face and open face helmets.<br /> <br /> <br /> <img alt="bm" src="/userfiles/images/BM.jpg" style="width: 230px; height: 209px; margin: 10px;" /><br /> <strong>BM Motorcycle Helmets</strong><br /> <br /> AMR Industry Company Limited was established in February 2003. This Thailand based company’s commitment is to satisfy customers’ needs by manufacturing superfine quality motorcycle helmets under the brand ‘BM’ which is qualified by Thai Industrial Standard Institute (TISI 369-2539). Since its start, the company has continuously indulged in improvement and innovation of its products to answer customers’ satisfaction.<br /> <br /> <br /> <img alt="" src="/userfiles/images/apex.jpg" style="width: 238px; height: 206px; margin: 10px;" /><br /> <br /> <strong>AVEX Safety Helmets</strong><br /> <br /> P Narong and PNI Company Limited has over 20 years of experience on knowledge and ability to produce AVEX Safety Helmet and the various types of plastic injection. Additionally, all manufacturing processes are considerately performed by the modern machines not only under the qualitative control of professional working team but also the quality system of ISO 9001 Version 2000. Apart from the standard, AVEX Safety Helmet is welcomed and admired from the users because of its beautiful shape in accordance with the aerodynamic principle. AVEX Safety Helmet is welcomed and trusted by the customers and the product has been continuously exported or distributed for more than two decades. The company, originated in Thailand, aims to provide qualitative product trusting the executive management under the system of ISO 9001:2000 in order to fulfill the confidence and the satisfactory of the customers in accordance with the quality policy and provide qualitative product meeting the customers’ requirements.<br /> <br /> <img alt="yohe" src="/userfiles/images/yohe.jpg" style="width: 205px; height: 204px; margin: 10px;" /><br /> <br /> <strong>YOHE Helmets</strong><br /> <br /> YOHE is one of the largest motorcycle helmets designing and manufacturing company. Foshan Nanhai YOHE manufacturing Co, Ltd was founded in June 1992 and located in Guangdong province, China. The more than 1000 workers of YOHE produce over 3.9 million pieces of helmets per year. YOHE gained ISO 9001:2000 certificate in 1993, and has a high reputation among all the Bureau of Quality and Technical Supervisions. YOHE’s customers are spread worldwide with Europe and America, Australia and Asia being the major markets.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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' => 'Incorporated in the year 2007, Mutual Crafts Pvt Ltd is one of the leading names engaged in the manufacture and supply of high quality and wide range of motorcycle helmets. The company, that manufactures Aaron Helmets, provides both open face and full face helmets to its valued clients. Mutual Crafts has been able to carve a niche in the domestic as well as overseas markets through its dedicated services and quality products. Its wide range of products is widely appreciated for its strength, protective features and reliability. This selection of products is efficient in meeting safety and racing standards and also characterized with stylish designs.', 'sortorder' => '1280', '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' => '1417', 'article_category_id' => '140', 'title' => 'Nepal Ain’t Egypt Yet', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Upashana Neupane</span></strong></div> <div> </div> <div> Former Prime Minister Dr Baburam Bhattarai tweeted recently: “Military coup to oust a democratically elected government in Egypt is a bad omen for all transitional democracies. Let’s all be cautious.” </div> <div> </div> <div> Nepal however is way different than Egypt, in this context. We must view this positively that despite the prolonged political transition, Nepal did not go by Egypt’s footsteps. There were numbers of government failures time and again in Nepal which gave ample opportunity for a coup. But this did not happen. This might be because the Nepali Army, unlike Egyptian counterpart, has not tasted the power. However, there are other reasons as well which prove that Nepal’s democratic fundamentals are still strong enough to avoid the happening like that in Egypt. </div> <div> </div> <div> For starters, Nepalis have been practicing democracy for long. Even before the restoration of multi-party parliamentary democracy after the people’s movement of 1990, there were comparatively better democratic practices in Nepal than in Egypt. </div> <div> </div> <div> Thus, Nepal’s democracy is matured and internalized. Nepal’s political transitions have not ben so tumultuous as Egypt. Even the abolition of monarchy was peaceful. </div> <div> </div> <div> On the other hand, Egypt’s democracy was still an embryo when Muhammad Morsi was deposed in a military coup early this month. </div> <div> </div> <div> Egyptians had no time to internalize the democracy. They removed Mubarak and elected new government with Morsi as president and made a constitution in a hasty manner. And they did away with existing institutions as fast and hastily as they were made. </div> <div> </div> <div> But in case of Nepal, politicial leaders are still engaged with each other discussing over the disputes and misunderstandings. Such a debate (though frustrating at times) is a good sign, reducing the risk factors for possible future confrontation. </div> <div> </div> <div> Another reason for Egypt’s current revolution is religious factionalism. Mohammed Morsi went Islamic fundamentalist way which was not convincing to the 21st century secular forces. Though indications of ethnic factionalism were visible in Nepal too, we have to thank our political leaders that they did not allow it to flare up. </div> <div> </div> <div> However, one cannot completely rule out the possibility of repeating the Egypt’s history in Nepal. The protracted political transition in the country and failure to meet the people’s expectations can lead to national frustration, creating enough space for military coup. </div> <div> </div> <div> The risk factors thus cannot and should not be neglected. To avoid these risks, there is no any other alternative than Constituent Assembly (CA) elections. </div> <div> </div> <div> Delaying the elections again will surely damage whatever hope the people have. But CA elections will not be enough. There should be elections to the Local Government Bodies as well. There are no elected representatives of the people in the local bodies for the last 14 years. Prolonging this vacuum can be very dangerous.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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’s democratic fundamentals are still strong enough to avoid the happening like that in Egypt.', 'sortorder' => '1279', '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' => '1416', 'article_category_id' => '153', 'title' => 'Safety Helmets For Two-wheelers', 'sub_title' => '', 'summary' => null, 'content' => '<p> A salesgirl taking out a helmet for a customer at Tripureshwor based Vicky Auto Parts. The company’s Managing Director Sajjan Jajodia informed that his store sells helmets in the price range of Rs 700 to Rs 6,000.<br /> <br /> <strong>Photo: Rukesh Shrestha/TC</strong><br /> <br /> <br /> <br /> <br /> <br /> The safety helmets available in Nepal are mostly imported from India, China, Thailand and Malaysia in addition to a few European brands. Some Nepal made helmets too have also gained popularity in the market in recent times.<br /> <br /> <strong>By Pinaki Roy</strong><br /> <br /> <br /> <br /> <br /> <br /> In the current financial year 2069-2070 BS, an estimated 180,000 two-wheelers have been sold in the Nepali market, industry analysts said. This sales figure is attributed to people’s growing desire to enhance mobility and save time in addition to the fact that two-wheelers also help its riders in negotiating narrow alleys.<br /> <br /> <strong>Safety Rider</strong><br /> <br /> Every two-wheeler that gets sold in the market also opens the possibility of sales of safety helmets. “Looking from a safety perspective, it is recommended that riders use full helmets,” a trader said. However, in the Nepali market, the consumption of helmets that cost cheaper is more than the helmets that provides complete protection of the head. “Only about 10 per cent of helmet buyers look for such safe helmets,” he added. These helmets are manufactured keeping in mind regulated standards and thus cost more. The decline in demand for quality helmets has forced traders to import cheaper and stylish products to cater to the market. Even though safety is the primary reason for wearing helmets, traders said that most riders do not change their helmets till the time they get completely damaged.<br /> <br /> Bharat Tibrewala, Director of MRD Auto, said, “There is a lack of awareness as most people wear helmets only for the fear of traffic police and not for safety.” He added that helmets provide safety to both the rider and the pillion rider and people must look to buy quality helmets. MRD Auto has around 40-50 vendors across Nepal who sell its helmets that cost between Rs 1,000 and Rs 2,500. Sajjan Jajodia, the Managing Director of Vicky Auto Parts and Vaani Auto Trade, said, “We currently sell around 30 pieces of helmets daily.” He informed that his company sells Index, Aaron, Vstar and STM brands of helmets among others.<br /> <br /> <br /> <strong>Imported Lot</strong><br /> <br /> Most helmet brands that sell in Nepal are imported from countries like India, China, Thailand and Malaysia. There are a few quality brands too available in the market that are manufactured in European countries. Some Nepal made helmets, which are manufactured in the country after importing raw materials from India, have also gained popularity in the market in recent times. Traders claim that the helmets manufactured in Nepal cost comparatively lesser than their imported counterparts. STM, Index, MRC, Avex, AMG, Aaron, BM and Snell are some of the more popular brands in the Nepali market while a few European brands such as Held and RPM are also available in the stores.<br /> <br /> <br /> <strong>Price Range</strong><br /> <br /> Depending on quality and design, helmets available in the Nepali market cost anything from Rs 500 to Rs 12,000. While the helmets manufactured in Nepal cost in the price range of Rs 500 to Rs 1,500, the ones imported from India, China, Thailand and Malaysia cost between Rs 1,500 and Rs 3,500 on an average. Kathmandu Valley alone has over 350 helmet shops and there is a total investment of around Rs 1 billion in the trade. While even a small store attracts a minimum investment of Rs 500,000, traders said there are stores in the Valley that have opened with investments of Rs 4 million or more.</p> <p> <br /> <br /> <strong>Variety Galore</strong><br /> <br /> People use helmets according to their age, gender, profession and income, observed traders. Women mostly wear half-helmets and cap-helmets while young men usually fancy wearing full helmets. Similarly, male riders pursuing professional careers are more inclined towards half helmets. Two-wheeler riders, who are comparatively well-off, change helmets according to the season – wearing full helmets during the winter while using half-helmets or cap-helmets in the summer. The two-wheeler model also determines the choice of helmet with people riding scooters wearing half-helmets or cap-helmets while those riding sporty motorbikes wearing full helmets.<br /> Business Challenge<br /> <br /> Traders dealing with helmets said their sales have dropped to 50 per cent over the last few years despite that fact that the sales of two-wheelers have continued to grow. It is because a number of motorcycle distributors provide helmet free with two-wheelers these days. Traffic Police in the capital had made helmets compulsory for pillion riders, along with the motorbike rider, in 2008. Due to the rule, helmet sales was at its peak around that time, however, the sales of helmets was hit hard ever since the rule was scrapped almost three years ago. The helmet sales was further hit after the dealers of two-wheelers started doling out free helmets with every purchase.<br /> A trader mentioned that since some of the companies provide helmets free of cost, the customers buy fresh helmets only after the older one becomes useless. Traders further said that a drop in sales of reconditioned bikes has also affected helmet sales. “It is become increasingly difficult to survive by selling helmets alone.”<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 safety helmets available in Nepal are mostly imported from India, China, Thailand and Malaysia in addition to a few European brands. Some Nepal made helmets too have also gained popularity in the market in recent times.', 'sortorder' => '1278', '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' => '1415', 'article_category_id' => '140', 'title' => '‘The Government Should Take Initiative To Narrow Down Differences’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Surendra Pandey ,leader of Communist Party of Nepal, United Marxist-Leninist (CPN-UML)" src="/userfiles/images/surendra.jpg" style="float: right; margin: 0px 10px 0px 0px; width: 225px; height: 265px;" /></div> <div> <span style="font-size:14px;">Surendra Pandey a leader of Communist Party of Nepal, United Marxist-Leninist (CPN-UML) is a former Minister of Finance. He spoke with Siromani Dhungana and Pritica Sharma of the The Corporate about contemporary political scenario in the country. <strong>Excerpt: </strong></span></div> <div> </div> <div> <strong>Is it possible to hold elections in the stipulated time? </strong></div> <div> </div> <div> Election should be possible but the primary concern is whether the government is determined to hold election or not. Baidya-led Maoist and some other political forces including Federal Socialist Party and People’s Right Forum have been saying that they will not take part in the election but they have not said that they will obstruct election either. The government should take initiative to narrow down the differences. The government should continue these two things together. On the one hand, it should work to create conducive environment for the election. On the other, it should continue dialogue with dissident parties. This approach will help reduce differences and foster favourable environment for the CA election. </div> <div> </div> <div> <strong>Can the bureaucrats-led government directly talk with political forces? </strong></div> <div> </div> <div> This government has both advantages and disadvantages. There is a genuine question whether this government can present its strong determinism to solve political differences. Similarly, single agenda of the government is to hold election. This government has more flexibility in terms of political ideology and stand. Political parties could not reach a compromise due to their own political ideologies and interests but this government is free from that. </div> <div> </div> <div> <strong>But it is often blamed that this government is not accountable to the people due to its apolitical nature. The government is keen to involve itself in employees transfer and other controversial decisions. In this regard, how can this government be free of vested interests? </strong></div> <div> </div> <div> I have also heard some complaints about this. Accordingly, some ministers have been saying that this government will continue for long time. The mandate of the government to hold election will expire on mid-December though Nepali Congress leader Krishna Sitaula has recently said that this government will continue for four years if the election is not held on time. Who is Krishna Sitaula to claim this? He expressed this as if he is a person who can form and dissolve the government. I don’t think Krishna Sitaula alone can form or dissolve the government. In my opinion, the tenure of the government cannot extend beyond mid-December and the government should be aware of this fact. </div> <div> </div> <div> <strong>Is there rapid polarization between political philosophies in Nepal or it is merely conflict of vested interest? </strong></div> <div> </div> <div> Both are there along with provocation of various interest groups. There are some political concerns, some vested interests and some provocations. Together these three things have fuelled the current political crisis. Therefore, political problems such as federalism and other constitution related issues should be sorted out at political level. Similarly, election is very essential to measure political parties’ strength. No political party should fear from the election. Political parties should refrain from shortsightedness, selfishness and provocation from unwarranted groups rather they should be focused on their own agendas for the betterment of overall political scenario of the country. A statesman should take decision based on his own conscience. </div> <div> </div> <div> <strong>Can this government conduct free and fair CA election? </strong></div> <div> </div> <div> There are a number of questions and doubts whether this government can hold free and fair election. During the short tenure, this government has failed to regulate the market and have done several activities which were not mandated to this government. However, political parties should create pressure to this government to hold the election on time. </div> <div> </div> <div> <strong>What’s your opinion about budget from this government? </strong></div> <div> </div> <div> Budget should not be delayed. It should be brought on time as per doctrine of necessity though there is not any accountability mechanism. We have a government and it should be allowed to bring budget. The question is: whether the government can change the policy or not? In my opinion, this government should not change major policies. The primary mandate of this government is to hold the election and the government is bringing the budget after the date for election has been declared. In this context, the government should realize its limitations. First, it should not introduce any new programme. Similarly, this government should not formulate a new policy due to lack of political mandate from the people. Similarly, this government should be aware of lack of accountability mechanism in absence of parliament. The government is introducing the budget through ordinance so it should not exaggerate the budget issue.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', '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' => 'Election should be possible but the primary concern is whether the government is determined to hold election or not.', 'sortorder' => '1277', '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' => '1414', 'article_category_id' => '100', 'title' => 'Tourism Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>More Tourists in Namje</strong><br /> <br /> The number of tourists visiting Namje Bazaar, Bhedetar has increased after the commencement of home stay in the area. Namje Bazaar is listed in 12th number in CNN’s world destinations. With the increment in the number of tourist in Namje, 10 more houses have recently started providing home stay services. Tourists are more attracted towards home stay as it is comparatively affordable than hotels and lodges, and they offer family as well. The tourists choosing home stay are provided with local food products like maize, oats, millet, organic vegetables etc. According to a local home stay owner, tourists are charged Rs 400 to Rs 500 for a night. Nine locations in Namje are recently declared as tourist destination, including Magar Museum, drinking water project and organic agro-production area among others.<br /> <br /> <br /> <strong>Etihad’s Second Quarter and First Half Results</strong><br /> <br /> Etihad Airways has announced its second quarter and half-year financial performances. According to a press statement, the results reflect continued growth in the airline alliance strategy and global cargo operations. The airline achieved an eight per cent increase in second quarter of 2013 in passenger revenues, generating 921 million USD which was 855 million USD in 2012. The passenger revenues for the first half of 2013 reached 1.8 billion USD as compared to 1.6 billion USD in 2012, which is an increase of 13 per cent. Revenue generated by codeshare and equity alliance airline partners was 184 million USD second quarter of 2013. This is 25 per cent more than the turnover in the same period of 2012. Partnership revenue comprised 20 per cent of the airline’s total passenger revenue in both second quarter and the first half of 2013. (Traveldailynews.com)<br /> <br /> <br /> <strong>European Commission Updates EU Air Safety List</strong><br /> <br /> The European Commission has updated for the 21st time the European list of airlines subject to an operating ban or operational restrictions within the European Union, known as ’The EU air safety list’. Following improvements in the safety situation in the Philippines, Philippine Airlines is the first airline from this country allowed back into European skies since 2010. The same is true for the Venezuelan airline Conviasa, which was banned in 2012. Progress was also noted in Libya but the Libyan authorities agreed that Libyan airlines would not be allowed to operate in Europe until they are fully recertified to the satisfaction of the European Union. Taking into account the improved safety oversight provided by the authorities of the Philippines, and the ability of the air carrier Philippine Airlines to ensure effective compliance with relevant aviation safety regulations, it was decided to lift the ban affecting this carrier registered in the Philippines.<br /> <br /> <br /> <strong>HotelMapper.com Reveals Top Ten Travel Destinations of 2013</strong><br /> <br /> HotelMapper.com, a leading hotel reservation website has announced the results of hotel reservation trends for the first part of 2013. Beach destinations proved most popular, followed by New York and Los Angeles, with European travel and theme park destinations showing a decrease over the last 12 months.<br /> <br /> <strong>Top International Cities for Travel 2013</strong><br /> <br /> 1. Paris, France<br /> 2. Madrid, Spain<br /> 3. Rio De Janeiro, Brazil<br /> 4. Cancun, Mexico<br /> 5. Rome, Italy<br /> 6. Cairns, Australia (Queensland)<br /> 7. London, United Kingdom<br /> 8. Venice, Italy<br /> 9. Seoul, Korea<br /> 10. New Delhi, India<br /> <strong>(Traveldailynews.com)</strong><br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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 number of tourists visiting Namje Bazaar, Bhedetar has increased after the commencement of home stay in the area. Namje Bazaar is listed in 12th number in CNN’s world destinations. With the increment in the number of tourist in Namje, 10 more houses have recently started providing home stay services. Tourists are more attracted towards home stay as it is comparatively affordable than hotels and lodges,', 'sortorder' => '1276', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1428', 'article_category_id' => '151', 'title' => 'Experiential Learning At Toastmasters', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Ashok Poudel</strong></div> <div> </div> <div> E very individual wants to be smart, confident, a good speaker and a better leader. We manage to get into a profession through our educational accomplishments, but we may lack certain speaking, leading and communicating skills that may have been overlooked by the education system. However, there are certain organisations and clubs established to nurture them, among which Toastmaster International is one. </div> <div> </div> <div> Toastmaster was established in 1924 with the mission to provide a mutually supporting and positive learning environment. Every member at Toastmaster has the opportunity to develop communication and leadership skills which helps to foster self-confidence and personal growth. It has now been an international organisation with nearly three hundred thousand members. Around four million people have become more confident speakers and leaders because of their participation in Toastmasters till the date from its establishment. </div> <div> </div> <div> In Nepal, four Toastmaster clubs are in operation as sub-divisions of Toastmaster International. They are Himalaya Toastmasters, Kathmandu Toastmasters, Everest Toastmasters and Sangrila Toastmasters, which opened recently. Many people have been thankful to the organisation as the skills they have learned from it have helped them stand out. </div> <div> </div> <div> There are no instructors in a Toastmasters meeting--a session where 30-40 people participate. Instead, members evaluate each other’s presentations and give feedback. This process is a key part of the program’s success. The participants also give impromptu talks on assigned topics, conduct meetings and develop skills related to timekeeping, grammar and parliamentary procedure. Members learn communication skills by working on the competent communication manual, a series of 10 self-paced speaking assignments designed to instill a basic foundation in public speaking. Members also learn leadership skills by taking on various roles and working on the competent leadership manual. This learn-by-doing approach does not lecture members about leadership skills, but gives them a share of responsibilities they have to carry out. </div> <div> </div> <div> President of Himalaya Toasmasters club (HMC), Nisi Khetan believes that Toastmasters boosts self-confidence encourages one to be a leader and an effective communicator. Bipul Raj, a member from the Himalaya Toastmasters Club shares his experience with great pleasure and satisfaction that Toastmasters have helped boosts his confidence over communication and leadership skills.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', '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' => 'There are no instructors in a Toastmasters meeting--a session where 30-40 people participate. Instead, members evaluate each other’s presentations and give feedback.', 'sortorder' => '1290', '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' => '1427', 'article_category_id' => '108', 'title' => 'News In Brief (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Ahluwalia new CEO of Everest Bank</strong><br /> <br /> AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.<br /> <br /> <strong><img alt="nbdbank" src="/userfiles/images/NMB.jpg" style="width: 220px; height: 73px; margin: 10px;" /><br /> <br /> NMB Sulav Investment Fund-I Coming</strong><br /> <br /> NMB Bank is bringing ‘NMB Sulav Investment Fund-I’ in first quarter of the coming Nepali fiscal year. The Rs 60 million fund is closed-end are with five years maturity period. The bank is going to invest 60 percent of the fund on shares and 40 percent on debentures. The unit holders are promised 12 percent annual return. NMB Capital Limited has been appointed as the issue manager of the fund.<br /> <br /> <br /> <br /> <img alt="banijya" src="/userfiles/images/banijya.jpg" style="width: 203px; height: 78px; margin: 10px;" /><br /> <strong>RBB Dullu Branch Reinstated</strong><br /> <br /> Rastriya Banijya Bank reinstated its Dullu Branch on Tuesday (July 9). The branch was inaugurated by Nepalgunj Regional Office Chief Bir Banahur Chand.<br /> <br /> <br /> <br /> <img alt="ndep" src="/userfiles/images/NDEP.jpg" style="width: 128px; height: 112px; margin: 10px;" /><br /> <br /> <img alt="hama" src="/userfiles/images/HAMA.jpg" style="margin: 10px; width: 197px; height: 72px;" /><br /> <strong>NDEP Hama Merger Cancelled</strong><br /> <br /> The merger process between Hama Merchant and Finance Ltd and NDEP Development Bank has been cancelled. The reason for the decision is to open the path to merge both of these BFIs with Prabhu Finance, says the sources. To further strengthen capital position and consolidate its presence on the market, Prabhu Finance has simultaneously initiated merger talks with NDEP Development Bank and Hama Merchant Bank.<br /> <br /> <img alt="Hama Merchant Finance" src="/userfiles/images/NepalBank.jpg" style="width: 147px; height: 119px; margin: 10px;" /><br /> <br /> <strong>NBL Right Shares Undersubscribed</strong><br /> <br /> The rights shares issued by Nepal Bank has fallen 8 percent short of being fully subscribed as the money collected by the end of closing day was only 92 percent of the total issue. As per a press statement, the bank will sell the remaining shares in a manner prescribed in the law. The bank got Rs 1.40 billion worth of applications for the rights shares from the government alone, which has 38.6 percent stake in the bank. Likewise, it collected Rs 1.93 billion from other shareholders who own 61.4 percent stake in the bank. The total collection from this rights issue stands at Rs 3.33 billion.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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' => 'AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.', 'sortorder' => '1289', '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' => '1426', 'article_category_id' => '109', 'title' => 'Trade Deficit Above Rs 400 Billion', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> The trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year. The high dependency on India for petroleum products is cited as the cause for the heavy increase in trade deficit with India. However, Trade and Export Promotion Centre (TEPC) brought about a slightly different report on the same day with trade deficit figure of Rs 4.8 billion.<br /> <br /> According to NRB, the workers’ remittances rose by only 21.3 percent to Rs. 388.46 billion compared to an increase of 39.6 percent in the same period of the previous year. In USD terms, remittance inflow increased by 11.8 percent to USD 4.45 billion during the review period compared to an increase of 25.2 percent in same period of the previous year. As per NRB, due to high growth of imports compared to exports, the ratio of export to import declined to 13.7 percent in the review period from 16.0 percent a year ago.<br /> <br /> The gross foreign exchange reserves in USD terms increased by 11.3 percent to USD 5.52 billion in mid-June 2013. Such reserves had increased by 25.6 percent in the same period of the previous year. Likewise, during eleven months of 2012/13, the inconvertible foreign exchange reserves increased by 17.6 percent to Indian Rupees 71.0 billion. Such reserves had increased by 89.7 percent during the same period of the previous year. On the basis of trend of import during the eleven months of the current fiscal year, the current level of reserves is sufficient for financing merchandise imports of 11.3 months and merchandise and service imports of 9.7 months, says NRB.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year.', 'sortorder' => '1288', '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' => '1425', 'article_category_id' => '109', 'title' => 'NBA Demands NRB To Relax Its Directives', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.<br /> <br /> They have also asked for relaxation on the requirement to increase their lending to manufacturing, agriculture and energy sectors. While earlier directive of the NRB requires them to have 20 percent of their loan outstanding on manufacturing sector by mid- July 2013, want the deadline extended till mid- July 2016. Similarly, they want NRB to extend the deadline till mid-July 2017 for increasing their loan outstanding on agriculture and energy sectors to 10 per cent. Earlier, NRB directive has set mid-July 2014 to meet this target. The bankers have also asked for reduction on the minimum amount of bank lending required to be in the deprived sector. They want this amount to be 3.5 percent instead of NRB’s earlier requirement of 4 percent.<br /> <br /> The association has also demanded for starting operation of Asset Management Company as soon as possible for the proper management of bad and doubtful loans. It has asked NRB also for taking up with the government the issue of implementing of Secured Transaction Act as soon as possible.Similarly, NBA has asked for permission to charge the customers for the cost incurred in cheque clearance through electronic clearance system. NBA has also asked NRB to increase the higher limit on Credit-Deposit Ratio (CD Ratio) from existing 80 percent to 85 percent.<br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.', 'sortorder' => '1287', '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' => '1424', 'article_category_id' => '109', 'title' => 'Nine BFIs Merged Into Three', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’. Similarly, Rara Bikas Bank, Royal Merchant Banking and Finance and Api Finance have merged to form ‘Apex Development Bank’. Also, the merger among Global IME Bank, Social Development Bank and Gulmi Development Bank has been approved.<br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’.', 'sortorder' => '1286', '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' => '1423', 'article_category_id' => '109', 'title' => 'Nepse On Bullish Trend With Mid-July Effect', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rashesh Vaidya</strong><br /> <br /> Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points. That was followed by the ‘others’ sector sub-index which increased by 23.49 points. As the market capitalization of Nepal Telecom increased heavily during the previous week, the ‘others’ sub-index saw a huge increment. The share price of Nepal Telecom increased by Rs 20 (closing at Rs 550) from a trading of 177,120 shares during the week.<br /> <br /> Similarly, increment in the share prices of Butwal Power Company and Chilime Hydropower Company by Rs 5 and Re 1 respectively caused increase in hydro-power sub-index. Decline in manufacturing and processing sub-index by 9.91 points during the week was due to the decline in share price of Unilever Nepal Ltd by Rs 200 per share closing at Rs 9800.<br /> <br /> As the closing of the fiscal year was coming nearer, investors are attracted to generate the shares of banks and financial institutions (BFIs) from which they expect dividends. On-going merger trend among the BFIs and the historical trend of high return during Mid-July (Mid-July Effect) from the Nepali stock market are also seen boosting the Nepali investors’ confidence during the week.<br /> <br /> Shares of 119 companies were traded at Nepse during the week through 5,412 transactions amounting to Rs 446,668,000. The share price of 68 companies increased while of 27 companies declined and 24 companies remained unchanged. The transaction amount of the week is 17.9 percent higher than that of earlier week. The total number of scrips traded was1,819,991 which is higher by 66,457 scrips than that of earlier week.<br /> <br /> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 641,020,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 395,011 scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (531).<br /> <br /> Similarly, a total of 920,000 right shares of Sewa Bikas Bank, and 2,250,000 ordinary shares of NLG Insurance, 40,000bonus shares of Seti Finance and 400,000 debentures of Bank of Kathmandu were listed during the week.<br /> <br /> <br /> <strong>Nepse on Sunday</strong><br /> <br /> Nepse Index closed at 511.07 points on Sunday (July 14). The index increased by 4.62 points from the Thursday (July 11) close. All the sectors sub-indices saw increment during the day. Hydro-power sub-index increased the highest by 23.85 points closing at 1065.28 points. Total of 225,296 shares were traded from 817 transactions during the day. Similarly, trading on stock symbol “NICA” has started after successful merger between NIC Bank Ltd and Bank of Asia Nepal Ltd forming NIC Asia Bank.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-25', '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 increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points.', 'sortorder' => '1285', 'image' => '1373893312.jpg', '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' => '1422', 'article_category_id' => '144', 'title' => 'Losing Currency', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The sharp decline in the value of the Nepali rupee in recent days has led to a clamour for the government to do something. This time, Nepal’s current currency depreciation has been created not due to Nepal’s own reason but due to pegged exchange rate with Indian currency. So, it is high time that the government dares to decide to discontinue pegged exchange rate with Indian currency. </span></div> <div> </div> <div> Though the continuous fall of the value of rupee has raised serious concern in India itself and the Indian government may do something to control the value of Indian rupee, Nepal should not just wait India’s action. It should do something on its own, if it is following an independent monetary policy. Otherwise, it may do better by declaring the Indian repee as its legal tender. </div> <div> </div> <div> The government and business community have had very little discourse about the problem and possible way out to control rupee depreciation. </div> <div> </div> <div> Countries with their currency pegged with another country’s currency are normally known to have weak capital markets and financial regulating mechanisms. In such a scenario, the peg helps create stability in the economy. Citing these very reasons, policymakers, politicians and even business community in Nepal have always favoured to have the pegged exchange rate with Indian Currency. </div> <div> </div> <div> But the recent massive depreciation of Indian currency has thrown all these logics out of the window and the situation calls for a serious debate on whether Nepali rupee should maintain the peg system. </div> <div> </div> <div> Theoretically, devaluation of currency is beneficial for exports, but in Nepal’s case that theory cannot apply as the country is heavily dependent on imports to meet consumer demand as well as for industrial raw material. Nepal exported merchandise worth Rs 69.93 billion during eleven months of 2012-13 while it imported goods worth Rs 508.60 billion, according to Current Macroeconomic Situation of Nepal released by Nepal Rastra Bank (NRB). </div> <div> </div> <div> The data clearly shows that Nepal has huge trade deficit and depreciation of rupees will have much more adverse impact on Nepali economy than would be the case in a country with relatively better trade balance. </div> <div> </div> <div> The pegging regime has both advantages and disadvantages. It helps to keep the fragile economy stable. But one never knows the real economic scenario of the country under such fixed exchange system. The Mundell-Fleming model, best known for its anti-pegged exchange rate philosophy, says that fixed exchange rate system restricts the effectiveness of having an independent monetary policy to achieve macroeconomic stability. </div> <div> </div> <div> In light of the Indian currency crisis, Nepal is desperately looking for best option to keep Nepali rupee stable. It is difficult to find a good solution to it as long as the pegged exchange rate system is not done away.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The sharp decline in the value of the Nepali rupee in recent days has led to a clamour for the government to do something.', 'sortorder' => '1284', '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' => '1421', 'article_category_id' => '145', 'title' => 'The Right Green Industrial Policies', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Dani Rodrik</span></strong></div> <div> </div> <div> The future of our planet depends on the world economy’s rapid transition to “green growth” – modes of production based on clean technologies that significantly reduce emissions of carbon dioxide and other greenhouse gases. Yet carbon remains badly mispriced, owing to fossil-fuel subsidies and the absence of tax revenues needed to address the global externalities of climate change. </div> <div> </div> <div> In this context, subsidies that promote the development of green technologies – wind, solar, bio-energy, geothermal, hydrogen, and fuel-cell technologies, among others – are doubly important. First, they nudge pioneers to invest in uncertain, risky ventures, with the resulting research-and-development efforts generating highly valuable social benefits. Second, they counter the effects of carbon mispricing on the direction of technological change. </div> <div> </div> <div> These two considerations provide mutually reinforcing reasons for governments to nurture and support green technologies. Such support has, in fact, become extensive, both in advanced and emerging economies. Look around these economies and you will find a bewildering array of government initiatives designed to encourage renewable-energy use and stimulate green-technology investment. </div> <div> </div> <div> Although full pricing of carbon would be a far better way to address climate change, most governments apparently prefer to rely on subsidies and regulations that increase the profitability of investments in renewable energy. Often, the authorities’ motive seems to be to give domestic industries a leg up in global competition. </div> <div> </div> <div> Normally, we would consider these competitive motives to be beggar-thy-neighbor in nature. Market-share considerations are zero-sum from a global standpoint in traditional industries, and any resources invested in generating national gains come at the cost of global losses. </div> <div> </div> <div> But in the context of green growth, national efforts to boost domestic green industries can be globally desirable, even if the motives are parochial and commercial. When cross-border spillovers militate against taxing carbon and subsidizing technological development in clean industries, boosting green industries for competitive reasons is a good thing, not a bad thing. </div> <div> </div> <div> Opponents of industrial policy rely on two arguments. The first is that governments do not have the information needed to make the right choices about which firms or industries to support. The second is that once governments are in the business of supporting a particular industry, they become vulnerable to rent-seeking and political manipulation by well-connected firms and lobbyists. In the United States, the 2011 bankruptcy of Solyndra – a solar cell manufacturer that folded after having received more than a half-billion dollars in government loan guarantees –seems to illustrate both failures. </div> <div> </div> <div> In reality, the first of these arguments – lack of omniscience – is largely irrelevant, while the rent-seeking problem can be overcome with appropriate institutional design. Good industrial policy does not rely on governments’ omniscience and ability to pick winners; indeed, failures are an inevitable and necessary part of a well-designed program. </div> <div> </div> <div> While it is too early to reach a conclusive verdict on the US loan-guarantee program, it is clear that the Solyndra case cannot be properly evaluated without taking into account the many successes that the program has spawned. Tesla Motors, which received a $465 million loan guarantee in 2009, has seen its shares soar and has repaid its loan early. An evaluation of US Department of Energy efficiency programs found that the net benefits amounted to $30 billion – an excellent return for an investment of roughly $7 billion over 22 years (in 1999 dollars). Interestingly, much of the positive impact resulted from three relatively modest projects in the building sector. </div> <div> </div> <div> Intelligent industrial policy requires mechanisms that recognize errors and revise strategies accordingly. Clear objectives, measurable targets, close monitoring, proper evaluation, well-designed rules, and professionalism provide useful institutional safeguards. As challenging as applying them may be, they constitute a much less formidable requirement than that of picking winners. Moreover, an explicit industrial policy – conducted self-consciously and designed with pitfalls in mind – is more likely to overcome the typical informational and political barriers than one that is implemented surreptitiously, as is too often the case. </div> <div> </div> <div> Green industrial policy can be damaging when national strategies take the form not of subsidizing domestic industries but of taxing foreign green industries or restricting their market access. The case of solar panels provides a cautionary tale. Trade disputes between China, on the one hand, and the US and Europe, on the other, have attracted much attention. Fortunately, this is the exception rather than the rule for green industrial policy. Trade restrictions have so far played a small role relative to subsidies to domestic industries. </div> <div> </div> <div> In practice, we are unlikely to get purely green industrial policy, which would focus solely on the development and diffusion of green technologies while excluding considerations of competitiveness, commercial gain, and employment growth. Indirect but politically salient objectives such as “green jobs” will most likely continue to present a more attractive platform for promoting industrial policy than alternative energy or clean technologies. </div> <div> </div> <div> From a global standpoint, it would be far better if concerns about national competitiveness were to lead to a subsidy war, which expands the global supply of clean technologies, rather than a tariff war, which restricts it. So far, we have been getting the former, though there is no way to determine whether, or for how long, this trend will continue. </div> <div> </div> <div> <span style="font-size:11px;"><em>(Dani Rodrik, Professor of Social Science at the Institute for Advanced Study, is the author of The Globalization Paradox: Democracy and the Future of the World Economy.) </em></span></div> <div> </div> <div> <em>Copyright: Project Syndicate, 2013.</em></div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'Green industrial policy can be damaging when national strategies take the form not of subsidizing domestic industries but of taxing foreign green industries or restricting their market access. The case of solar panels provides a cautionary tale. Trade disputes between China, on the one hand, and the US and Europe, on the other, have attracted much attention.', 'sortorder' => '1283', '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' => '1420', 'article_category_id' => '142', 'title' => 'Poll Update (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Vice Chairman of the CPN (UML) Bamdev Gautam" src="/userfiles/images/gautsm.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 117px;" /></div> <div> <strong style="font-size: 12px;">Timely Election is Crucial: Gautam </strong></div> <div> </div> <div> Vice Chairman of the CPN (UML) Bamdev Gautam has said that the country would turn into a failed state if the Constituent Assembly (CA) poll is not held on the scheduled date of November 19. Stating that the CPN-Maoist´s demand for the dissolution of the Khil Raj Regmi-led government is futile, he said their demands are not acceptable to his party. Gautam also said that his party is ready for the CA polls. “Our party cadres have already reached many constituencies and it is likely that we will win with a majority.” </div> <div> </div> <div> </div> <div> </div> <div> <strong>November Elections Impossible: Pokharel </strong></div> <div> <img alt="Former Chief Election Commissioner Bhojraj Pokharel " src="/userfiles/images/pokhrel.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 108px;" /></div> <div> Former Chief Election Commissioner Bhojraj Pokharel has said that an election in November is impossible because of the government and some political parties. “Old characters do not want change in the rules,’’ Pokharel said speaking at a programme in the capital. Pokharel suggested that a round table talk would be the solution to the on going problems. That should be followed by formation of regulations, and party registration within 45 days. He also claimed that the political parties and the election commission have already agreed secretly to conduct elections in April next year.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'November Elections Impossible:', 'sortorder' => '1282', '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' => '1419', 'article_category_id' => '141', 'title' => 'News In Brief (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Political Parties Most Corrupt in Nepal: TI Survey </strong></div> <div> </div> <div> A study conducted by Transparency International (TI) has found that political parties are the most corrupt among institutions in Nepal. Seventy percent of the total respondents surveyed in 58 municipalities in Nepal answered that political parties are the most corrupt, followed by public service and bureaucracy (66 percent), the police (58 percent), the parliament (51 percent), the judiciary (51 percent) and the private sector (30 percent) which made it to the top five positions. Questions regarding the lodging of complaints against corruption received positive answers from 61 percent of the respondents whereas the remaining 43 percent said they are not aware of any institution where such complaints could be filed. Thirty-nine percent of the respondents said they were not optimistic that action would be taken even if complaints were lodged. Likewise, 40 percent of the respondents said that they bribed officials for getting land-related problems solved. Thirty-seven percent claimed to have paid bribes for judicial services, whereas 30 percent revealed to have done the same with the police. </div> <div> </div> <div> <strong>Nepal to Send 260 Peacekeepers to Syria </strong></div> <div> </div> <div> The Cabinet on Thursday decided to send 260 Nepal Army personnel in war-ravaged Syria. The Nepali peacekeepers will work under the UN Supervision Mission in Syria (UNSMIS) which was set up in 2012. According to the Minister for Information and Communications, Madhav Prasad Paudel, the government has decided to dispatch 260 peacekeepers to Syria in two phases. The fist contingent of 130 NA personnel will reach Syria by the end of July, while the remaining will head for the country in September, Paudel said. Nepal has been contributing troops to UN peacekeeping operations since 1958. </div> <div> </div> <div> <strong>China didn’t Ask Us to Take Part in Election: Gajurel </strong></div> <div> </div> <div> CPN-Maoist Vice Chairman CP Gajurel, speaking at a programme organised in the Capital on Friday, said that his recent visit to China was not entirely focused on the issue of CA elections in Nepal. The Chinese authorities did not say anything about the election in Nepal for it was an internal issue. China, however, wants to see lasting peace and the end of the transitional phase, according to Gajurel. “The rumour that our party is close to China and distant from India is not true,” he added. Gajurel and his party Chairman Mohan Baidya had gone to China earlier this week upon invitation of the Community Party of China (CPC). </div> <div> </div> <div> <strong>Khursid’s Day-long Kathmandu Visit </strong></div> <div> </div> <div> Indian Minister for External Affairs Salman Khurshid visited Kathmandu on July 9 and returned to New Delhi on same evening. Khurshid met top leaders of UCPN (Maoist), Nepali Congress, CPN-UML and other Madhes-based parties in Kathmandu. He also met Chairman of the Interim Council of Ministers Khil Raj Regmi. A Memorandum of Understanding (MoU) was signed during the meeting to provide 764 vehicles for the upcoming Constituent Assembly (CA) election. Finance Secretary Shantaraj Subedi and Indian envoy Jayanta Prasad signed the MoU. </div> <div> </div> <div> <strong>Election Office Enlists Voters Even on Saturday </strong></div> <div> </div> <div> The Election Commission continued the task of enlisting voters even on Saturdays in all 75 districts due to high pressure of turnout. The commission has stipulated July 15 as the last day for enlisting names in voters´ lists across the country. Due to increasing numbers of prospective voters, the task will be performed even on Saturdays, said Bir Bahadur Rai, spokesperson of the commission.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'A study conducted by Transparency International (TI) has found that political parties are the most corrupt among institutions in Nepal.', 'sortorder' => '1281', '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' => '1418', 'article_category_id' => '152', 'title' => 'Focus Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Aaron Helmets & Accessories</strong><br /> <br /> Incorporated in the year 2007, Mutual Crafts Pvt Ltd is one of the leading names engaged in the manufacture and supply of high quality and wide range of motorcycle helmets. The company, that manufactures Aaron Helmets, provides both open face and full face helmets to its valued clients. Mutual Crafts has been able to carve a niche in the domestic as well as overseas markets through its dedicated services and quality products. Its wide range of products is widely appreciated for its strength, protective features and reliability. This selection of products is efficient in meeting safety and racing standards and also characterized with stylish designs. Further, the company also provides customization as per the requirements and specifications of its esteemed clients. Its highly qualified and dedicated team of professionals is able to provide utmost satisfaction with on-time delivery of the products. It ensures to deliver the products after comprehensive research and stringent tests to assert international standards of quality and safety. Mutual Crafts maintains an up-to-date infrastructure as a necessity towards maintaining quality product attributes. An ISI & ISO 9001:2008 Certified Company, Mutual Crafts is a Delhi, India based leading manufacturer, supplier and exporter of motorcycle helmets and offers a wide array of full face and open face helmets.<br /> <br /> <br /> <img alt="bm" src="/userfiles/images/BM.jpg" style="width: 230px; height: 209px; margin: 10px;" /><br /> <strong>BM Motorcycle Helmets</strong><br /> <br /> AMR Industry Company Limited was established in February 2003. This Thailand based company’s commitment is to satisfy customers’ needs by manufacturing superfine quality motorcycle helmets under the brand ‘BM’ which is qualified by Thai Industrial Standard Institute (TISI 369-2539). Since its start, the company has continuously indulged in improvement and innovation of its products to answer customers’ satisfaction.<br /> <br /> <br /> <img alt="" src="/userfiles/images/apex.jpg" style="width: 238px; height: 206px; margin: 10px;" /><br /> <br /> <strong>AVEX Safety Helmets</strong><br /> <br /> P Narong and PNI Company Limited has over 20 years of experience on knowledge and ability to produce AVEX Safety Helmet and the various types of plastic injection. Additionally, all manufacturing processes are considerately performed by the modern machines not only under the qualitative control of professional working team but also the quality system of ISO 9001 Version 2000. Apart from the standard, AVEX Safety Helmet is welcomed and admired from the users because of its beautiful shape in accordance with the aerodynamic principle. AVEX Safety Helmet is welcomed and trusted by the customers and the product has been continuously exported or distributed for more than two decades. The company, originated in Thailand, aims to provide qualitative product trusting the executive management under the system of ISO 9001:2000 in order to fulfill the confidence and the satisfactory of the customers in accordance with the quality policy and provide qualitative product meeting the customers’ requirements.<br /> <br /> <img alt="yohe" src="/userfiles/images/yohe.jpg" style="width: 205px; height: 204px; margin: 10px;" /><br /> <br /> <strong>YOHE Helmets</strong><br /> <br /> YOHE is one of the largest motorcycle helmets designing and manufacturing company. Foshan Nanhai YOHE manufacturing Co, Ltd was founded in June 1992 and located in Guangdong province, China. The more than 1000 workers of YOHE produce over 3.9 million pieces of helmets per year. YOHE gained ISO 9001:2000 certificate in 1993, and has a high reputation among all the Bureau of Quality and Technical Supervisions. YOHE’s customers are spread worldwide with Europe and America, Australia and Asia being the major markets.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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' => 'Incorporated in the year 2007, Mutual Crafts Pvt Ltd is one of the leading names engaged in the manufacture and supply of high quality and wide range of motorcycle helmets. The company, that manufactures Aaron Helmets, provides both open face and full face helmets to its valued clients. Mutual Crafts has been able to carve a niche in the domestic as well as overseas markets through its dedicated services and quality products. Its wide range of products is widely appreciated for its strength, protective features and reliability. This selection of products is efficient in meeting safety and racing standards and also characterized with stylish designs.', 'sortorder' => '1280', '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' => '1417', 'article_category_id' => '140', 'title' => 'Nepal Ain’t Egypt Yet', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Upashana Neupane</span></strong></div> <div> </div> <div> Former Prime Minister Dr Baburam Bhattarai tweeted recently: “Military coup to oust a democratically elected government in Egypt is a bad omen for all transitional democracies. Let’s all be cautious.” </div> <div> </div> <div> Nepal however is way different than Egypt, in this context. We must view this positively that despite the prolonged political transition, Nepal did not go by Egypt’s footsteps. There were numbers of government failures time and again in Nepal which gave ample opportunity for a coup. But this did not happen. This might be because the Nepali Army, unlike Egyptian counterpart, has not tasted the power. However, there are other reasons as well which prove that Nepal’s democratic fundamentals are still strong enough to avoid the happening like that in Egypt. </div> <div> </div> <div> For starters, Nepalis have been practicing democracy for long. Even before the restoration of multi-party parliamentary democracy after the people’s movement of 1990, there were comparatively better democratic practices in Nepal than in Egypt. </div> <div> </div> <div> Thus, Nepal’s democracy is matured and internalized. Nepal’s political transitions have not ben so tumultuous as Egypt. Even the abolition of monarchy was peaceful. </div> <div> </div> <div> On the other hand, Egypt’s democracy was still an embryo when Muhammad Morsi was deposed in a military coup early this month. </div> <div> </div> <div> Egyptians had no time to internalize the democracy. They removed Mubarak and elected new government with Morsi as president and made a constitution in a hasty manner. And they did away with existing institutions as fast and hastily as they were made. </div> <div> </div> <div> But in case of Nepal, politicial leaders are still engaged with each other discussing over the disputes and misunderstandings. Such a debate (though frustrating at times) is a good sign, reducing the risk factors for possible future confrontation. </div> <div> </div> <div> Another reason for Egypt’s current revolution is religious factionalism. Mohammed Morsi went Islamic fundamentalist way which was not convincing to the 21st century secular forces. Though indications of ethnic factionalism were visible in Nepal too, we have to thank our political leaders that they did not allow it to flare up. </div> <div> </div> <div> However, one cannot completely rule out the possibility of repeating the Egypt’s history in Nepal. The protracted political transition in the country and failure to meet the people’s expectations can lead to national frustration, creating enough space for military coup. </div> <div> </div> <div> The risk factors thus cannot and should not be neglected. To avoid these risks, there is no any other alternative than Constituent Assembly (CA) elections. </div> <div> </div> <div> Delaying the elections again will surely damage whatever hope the people have. But CA elections will not be enough. There should be elections to the Local Government Bodies as well. There are no elected representatives of the people in the local bodies for the last 14 years. Prolonging this vacuum can be very dangerous.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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’s democratic fundamentals are still strong enough to avoid the happening like that in Egypt.', 'sortorder' => '1279', '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' => '1416', 'article_category_id' => '153', 'title' => 'Safety Helmets For Two-wheelers', 'sub_title' => '', 'summary' => null, 'content' => '<p> A salesgirl taking out a helmet for a customer at Tripureshwor based Vicky Auto Parts. The company’s Managing Director Sajjan Jajodia informed that his store sells helmets in the price range of Rs 700 to Rs 6,000.<br /> <br /> <strong>Photo: Rukesh Shrestha/TC</strong><br /> <br /> <br /> <br /> <br /> <br /> The safety helmets available in Nepal are mostly imported from India, China, Thailand and Malaysia in addition to a few European brands. Some Nepal made helmets too have also gained popularity in the market in recent times.<br /> <br /> <strong>By Pinaki Roy</strong><br /> <br /> <br /> <br /> <br /> <br /> In the current financial year 2069-2070 BS, an estimated 180,000 two-wheelers have been sold in the Nepali market, industry analysts said. This sales figure is attributed to people’s growing desire to enhance mobility and save time in addition to the fact that two-wheelers also help its riders in negotiating narrow alleys.<br /> <br /> <strong>Safety Rider</strong><br /> <br /> Every two-wheeler that gets sold in the market also opens the possibility of sales of safety helmets. “Looking from a safety perspective, it is recommended that riders use full helmets,” a trader said. However, in the Nepali market, the consumption of helmets that cost cheaper is more than the helmets that provides complete protection of the head. “Only about 10 per cent of helmet buyers look for such safe helmets,” he added. These helmets are manufactured keeping in mind regulated standards and thus cost more. The decline in demand for quality helmets has forced traders to import cheaper and stylish products to cater to the market. Even though safety is the primary reason for wearing helmets, traders said that most riders do not change their helmets till the time they get completely damaged.<br /> <br /> Bharat Tibrewala, Director of MRD Auto, said, “There is a lack of awareness as most people wear helmets only for the fear of traffic police and not for safety.” He added that helmets provide safety to both the rider and the pillion rider and people must look to buy quality helmets. MRD Auto has around 40-50 vendors across Nepal who sell its helmets that cost between Rs 1,000 and Rs 2,500. Sajjan Jajodia, the Managing Director of Vicky Auto Parts and Vaani Auto Trade, said, “We currently sell around 30 pieces of helmets daily.” He informed that his company sells Index, Aaron, Vstar and STM brands of helmets among others.<br /> <br /> <br /> <strong>Imported Lot</strong><br /> <br /> Most helmet brands that sell in Nepal are imported from countries like India, China, Thailand and Malaysia. There are a few quality brands too available in the market that are manufactured in European countries. Some Nepal made helmets, which are manufactured in the country after importing raw materials from India, have also gained popularity in the market in recent times. Traders claim that the helmets manufactured in Nepal cost comparatively lesser than their imported counterparts. STM, Index, MRC, Avex, AMG, Aaron, BM and Snell are some of the more popular brands in the Nepali market while a few European brands such as Held and RPM are also available in the stores.<br /> <br /> <br /> <strong>Price Range</strong><br /> <br /> Depending on quality and design, helmets available in the Nepali market cost anything from Rs 500 to Rs 12,000. While the helmets manufactured in Nepal cost in the price range of Rs 500 to Rs 1,500, the ones imported from India, China, Thailand and Malaysia cost between Rs 1,500 and Rs 3,500 on an average. Kathmandu Valley alone has over 350 helmet shops and there is a total investment of around Rs 1 billion in the trade. While even a small store attracts a minimum investment of Rs 500,000, traders said there are stores in the Valley that have opened with investments of Rs 4 million or more.</p> <p> <br /> <br /> <strong>Variety Galore</strong><br /> <br /> People use helmets according to their age, gender, profession and income, observed traders. Women mostly wear half-helmets and cap-helmets while young men usually fancy wearing full helmets. Similarly, male riders pursuing professional careers are more inclined towards half helmets. Two-wheeler riders, who are comparatively well-off, change helmets according to the season – wearing full helmets during the winter while using half-helmets or cap-helmets in the summer. The two-wheeler model also determines the choice of helmet with people riding scooters wearing half-helmets or cap-helmets while those riding sporty motorbikes wearing full helmets.<br /> Business Challenge<br /> <br /> Traders dealing with helmets said their sales have dropped to 50 per cent over the last few years despite that fact that the sales of two-wheelers have continued to grow. It is because a number of motorcycle distributors provide helmet free with two-wheelers these days. Traffic Police in the capital had made helmets compulsory for pillion riders, along with the motorbike rider, in 2008. Due to the rule, helmet sales was at its peak around that time, however, the sales of helmets was hit hard ever since the rule was scrapped almost three years ago. The helmet sales was further hit after the dealers of two-wheelers started doling out free helmets with every purchase.<br /> A trader mentioned that since some of the companies provide helmets free of cost, the customers buy fresh helmets only after the older one becomes useless. Traders further said that a drop in sales of reconditioned bikes has also affected helmet sales. “It is become increasingly difficult to survive by selling helmets alone.”<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 safety helmets available in Nepal are mostly imported from India, China, Thailand and Malaysia in addition to a few European brands. Some Nepal made helmets too have also gained popularity in the market in recent times.', 'sortorder' => '1278', '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' => '1415', 'article_category_id' => '140', 'title' => '‘The Government Should Take Initiative To Narrow Down Differences’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Surendra Pandey ,leader of Communist Party of Nepal, United Marxist-Leninist (CPN-UML)" src="/userfiles/images/surendra.jpg" style="float: right; margin: 0px 10px 0px 0px; width: 225px; height: 265px;" /></div> <div> <span style="font-size:14px;">Surendra Pandey a leader of Communist Party of Nepal, United Marxist-Leninist (CPN-UML) is a former Minister of Finance. He spoke with Siromani Dhungana and Pritica Sharma of the The Corporate about contemporary political scenario in the country. <strong>Excerpt: </strong></span></div> <div> </div> <div> <strong>Is it possible to hold elections in the stipulated time? </strong></div> <div> </div> <div> Election should be possible but the primary concern is whether the government is determined to hold election or not. Baidya-led Maoist and some other political forces including Federal Socialist Party and People’s Right Forum have been saying that they will not take part in the election but they have not said that they will obstruct election either. The government should take initiative to narrow down the differences. The government should continue these two things together. On the one hand, it should work to create conducive environment for the election. On the other, it should continue dialogue with dissident parties. This approach will help reduce differences and foster favourable environment for the CA election. </div> <div> </div> <div> <strong>Can the bureaucrats-led government directly talk with political forces? </strong></div> <div> </div> <div> This government has both advantages and disadvantages. There is a genuine question whether this government can present its strong determinism to solve political differences. Similarly, single agenda of the government is to hold election. This government has more flexibility in terms of political ideology and stand. Political parties could not reach a compromise due to their own political ideologies and interests but this government is free from that. </div> <div> </div> <div> <strong>But it is often blamed that this government is not accountable to the people due to its apolitical nature. The government is keen to involve itself in employees transfer and other controversial decisions. In this regard, how can this government be free of vested interests? </strong></div> <div> </div> <div> I have also heard some complaints about this. Accordingly, some ministers have been saying that this government will continue for long time. The mandate of the government to hold election will expire on mid-December though Nepali Congress leader Krishna Sitaula has recently said that this government will continue for four years if the election is not held on time. Who is Krishna Sitaula to claim this? He expressed this as if he is a person who can form and dissolve the government. I don’t think Krishna Sitaula alone can form or dissolve the government. In my opinion, the tenure of the government cannot extend beyond mid-December and the government should be aware of this fact. </div> <div> </div> <div> <strong>Is there rapid polarization between political philosophies in Nepal or it is merely conflict of vested interest? </strong></div> <div> </div> <div> Both are there along with provocation of various interest groups. There are some political concerns, some vested interests and some provocations. Together these three things have fuelled the current political crisis. Therefore, political problems such as federalism and other constitution related issues should be sorted out at political level. Similarly, election is very essential to measure political parties’ strength. No political party should fear from the election. Political parties should refrain from shortsightedness, selfishness and provocation from unwarranted groups rather they should be focused on their own agendas for the betterment of overall political scenario of the country. A statesman should take decision based on his own conscience. </div> <div> </div> <div> <strong>Can this government conduct free and fair CA election? </strong></div> <div> </div> <div> There are a number of questions and doubts whether this government can hold free and fair election. During the short tenure, this government has failed to regulate the market and have done several activities which were not mandated to this government. However, political parties should create pressure to this government to hold the election on time. </div> <div> </div> <div> <strong>What’s your opinion about budget from this government? </strong></div> <div> </div> <div> Budget should not be delayed. It should be brought on time as per doctrine of necessity though there is not any accountability mechanism. We have a government and it should be allowed to bring budget. The question is: whether the government can change the policy or not? In my opinion, this government should not change major policies. The primary mandate of this government is to hold the election and the government is bringing the budget after the date for election has been declared. In this context, the government should realize its limitations. First, it should not introduce any new programme. Similarly, this government should not formulate a new policy due to lack of political mandate from the people. Similarly, this government should be aware of lack of accountability mechanism in absence of parliament. The government is introducing the budget through ordinance so it should not exaggerate the budget issue.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', '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' => 'Election should be possible but the primary concern is whether the government is determined to hold election or not.', 'sortorder' => '1277', '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' => '1414', 'article_category_id' => '100', 'title' => 'Tourism Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>More Tourists in Namje</strong><br /> <br /> The number of tourists visiting Namje Bazaar, Bhedetar has increased after the commencement of home stay in the area. Namje Bazaar is listed in 12th number in CNN’s world destinations. With the increment in the number of tourist in Namje, 10 more houses have recently started providing home stay services. Tourists are more attracted towards home stay as it is comparatively affordable than hotels and lodges, and they offer family as well. The tourists choosing home stay are provided with local food products like maize, oats, millet, organic vegetables etc. According to a local home stay owner, tourists are charged Rs 400 to Rs 500 for a night. Nine locations in Namje are recently declared as tourist destination, including Magar Museum, drinking water project and organic agro-production area among others.<br /> <br /> <br /> <strong>Etihad’s Second Quarter and First Half Results</strong><br /> <br /> Etihad Airways has announced its second quarter and half-year financial performances. According to a press statement, the results reflect continued growth in the airline alliance strategy and global cargo operations. The airline achieved an eight per cent increase in second quarter of 2013 in passenger revenues, generating 921 million USD which was 855 million USD in 2012. The passenger revenues for the first half of 2013 reached 1.8 billion USD as compared to 1.6 billion USD in 2012, which is an increase of 13 per cent. Revenue generated by codeshare and equity alliance airline partners was 184 million USD second quarter of 2013. This is 25 per cent more than the turnover in the same period of 2012. Partnership revenue comprised 20 per cent of the airline’s total passenger revenue in both second quarter and the first half of 2013. (Traveldailynews.com)<br /> <br /> <br /> <strong>European Commission Updates EU Air Safety List</strong><br /> <br /> The European Commission has updated for the 21st time the European list of airlines subject to an operating ban or operational restrictions within the European Union, known as ’The EU air safety list’. Following improvements in the safety situation in the Philippines, Philippine Airlines is the first airline from this country allowed back into European skies since 2010. The same is true for the Venezuelan airline Conviasa, which was banned in 2012. Progress was also noted in Libya but the Libyan authorities agreed that Libyan airlines would not be allowed to operate in Europe until they are fully recertified to the satisfaction of the European Union. Taking into account the improved safety oversight provided by the authorities of the Philippines, and the ability of the air carrier Philippine Airlines to ensure effective compliance with relevant aviation safety regulations, it was decided to lift the ban affecting this carrier registered in the Philippines.<br /> <br /> <br /> <strong>HotelMapper.com Reveals Top Ten Travel Destinations of 2013</strong><br /> <br /> HotelMapper.com, a leading hotel reservation website has announced the results of hotel reservation trends for the first part of 2013. Beach destinations proved most popular, followed by New York and Los Angeles, with European travel and theme park destinations showing a decrease over the last 12 months.<br /> <br /> <strong>Top International Cities for Travel 2013</strong><br /> <br /> 1. Paris, France<br /> 2. Madrid, Spain<br /> 3. Rio De Janeiro, Brazil<br /> 4. Cancun, Mexico<br /> 5. Rome, Italy<br /> 6. Cairns, Australia (Queensland)<br /> 7. London, United Kingdom<br /> 8. Venice, Italy<br /> 9. Seoul, Korea<br /> 10. New Delhi, India<br /> <strong>(Traveldailynews.com)</strong><br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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 number of tourists visiting Namje Bazaar, Bhedetar has increased after the commencement of home stay in the area. Namje Bazaar is listed in 12th number in CNN’s world destinations. With the increment in the number of tourist in Namje, 10 more houses have recently started providing home stay services. Tourists are more attracted towards home stay as it is comparatively affordable than hotels and lodges,', 'sortorder' => '1276', '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' => '1428', 'article_category_id' => '151', 'title' => 'Experiential Learning At Toastmasters', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Ashok Poudel</strong></div> <div> </div> <div> E very individual wants to be smart, confident, a good speaker and a better leader. We manage to get into a profession through our educational accomplishments, but we may lack certain speaking, leading and communicating skills that may have been overlooked by the education system. However, there are certain organisations and clubs established to nurture them, among which Toastmaster International is one. </div> <div> </div> <div> Toastmaster was established in 1924 with the mission to provide a mutually supporting and positive learning environment. Every member at Toastmaster has the opportunity to develop communication and leadership skills which helps to foster self-confidence and personal growth. It has now been an international organisation with nearly three hundred thousand members. Around four million people have become more confident speakers and leaders because of their participation in Toastmasters till the date from its establishment. </div> <div> </div> <div> In Nepal, four Toastmaster clubs are in operation as sub-divisions of Toastmaster International. They are Himalaya Toastmasters, Kathmandu Toastmasters, Everest Toastmasters and Sangrila Toastmasters, which opened recently. Many people have been thankful to the organisation as the skills they have learned from it have helped them stand out. </div> <div> </div> <div> There are no instructors in a Toastmasters meeting--a session where 30-40 people participate. Instead, members evaluate each other’s presentations and give feedback. This process is a key part of the program’s success. The participants also give impromptu talks on assigned topics, conduct meetings and develop skills related to timekeeping, grammar and parliamentary procedure. Members learn communication skills by working on the competent communication manual, a series of 10 self-paced speaking assignments designed to instill a basic foundation in public speaking. Members also learn leadership skills by taking on various roles and working on the competent leadership manual. This learn-by-doing approach does not lecture members about leadership skills, but gives them a share of responsibilities they have to carry out. </div> <div> </div> <div> President of Himalaya Toasmasters club (HMC), Nisi Khetan believes that Toastmasters boosts self-confidence encourages one to be a leader and an effective communicator. Bipul Raj, a member from the Himalaya Toastmasters Club shares his experience with great pleasure and satisfaction that Toastmasters have helped boosts his confidence over communication and leadership skills.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', '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' => 'There are no instructors in a Toastmasters meeting--a session where 30-40 people participate. Instead, members evaluate each other’s presentations and give feedback.', 'sortorder' => '1290', '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' => '1427', 'article_category_id' => '108', 'title' => 'News In Brief (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Ahluwalia new CEO of Everest Bank</strong><br /> <br /> AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.<br /> <br /> <strong><img alt="nbdbank" src="/userfiles/images/NMB.jpg" style="width: 220px; height: 73px; margin: 10px;" /><br /> <br /> NMB Sulav Investment Fund-I Coming</strong><br /> <br /> NMB Bank is bringing ‘NMB Sulav Investment Fund-I’ in first quarter of the coming Nepali fiscal year. The Rs 60 million fund is closed-end are with five years maturity period. The bank is going to invest 60 percent of the fund on shares and 40 percent on debentures. The unit holders are promised 12 percent annual return. NMB Capital Limited has been appointed as the issue manager of the fund.<br /> <br /> <br /> <br /> <img alt="banijya" src="/userfiles/images/banijya.jpg" style="width: 203px; height: 78px; margin: 10px;" /><br /> <strong>RBB Dullu Branch Reinstated</strong><br /> <br /> Rastriya Banijya Bank reinstated its Dullu Branch on Tuesday (July 9). The branch was inaugurated by Nepalgunj Regional Office Chief Bir Banahur Chand.<br /> <br /> <br /> <br /> <img alt="ndep" src="/userfiles/images/NDEP.jpg" style="width: 128px; height: 112px; margin: 10px;" /><br /> <br /> <img alt="hama" src="/userfiles/images/HAMA.jpg" style="margin: 10px; width: 197px; height: 72px;" /><br /> <strong>NDEP Hama Merger Cancelled</strong><br /> <br /> The merger process between Hama Merchant and Finance Ltd and NDEP Development Bank has been cancelled. The reason for the decision is to open the path to merge both of these BFIs with Prabhu Finance, says the sources. To further strengthen capital position and consolidate its presence on the market, Prabhu Finance has simultaneously initiated merger talks with NDEP Development Bank and Hama Merchant Bank.<br /> <br /> <img alt="Hama Merchant Finance" src="/userfiles/images/NepalBank.jpg" style="width: 147px; height: 119px; margin: 10px;" /><br /> <br /> <strong>NBL Right Shares Undersubscribed</strong><br /> <br /> The rights shares issued by Nepal Bank has fallen 8 percent short of being fully subscribed as the money collected by the end of closing day was only 92 percent of the total issue. As per a press statement, the bank will sell the remaining shares in a manner prescribed in the law. The bank got Rs 1.40 billion worth of applications for the rights shares from the government alone, which has 38.6 percent stake in the bank. Likewise, it collected Rs 1.93 billion from other shareholders who own 61.4 percent stake in the bank. The total collection from this rights issue stands at Rs 3.33 billion.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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' => 'AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.', 'sortorder' => '1289', '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' => '1426', 'article_category_id' => '109', 'title' => 'Trade Deficit Above Rs 400 Billion', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> The trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year. The high dependency on India for petroleum products is cited as the cause for the heavy increase in trade deficit with India. However, Trade and Export Promotion Centre (TEPC) brought about a slightly different report on the same day with trade deficit figure of Rs 4.8 billion.<br /> <br /> According to NRB, the workers’ remittances rose by only 21.3 percent to Rs. 388.46 billion compared to an increase of 39.6 percent in the same period of the previous year. In USD terms, remittance inflow increased by 11.8 percent to USD 4.45 billion during the review period compared to an increase of 25.2 percent in same period of the previous year. As per NRB, due to high growth of imports compared to exports, the ratio of export to import declined to 13.7 percent in the review period from 16.0 percent a year ago.<br /> <br /> The gross foreign exchange reserves in USD terms increased by 11.3 percent to USD 5.52 billion in mid-June 2013. Such reserves had increased by 25.6 percent in the same period of the previous year. Likewise, during eleven months of 2012/13, the inconvertible foreign exchange reserves increased by 17.6 percent to Indian Rupees 71.0 billion. Such reserves had increased by 89.7 percent during the same period of the previous year. On the basis of trend of import during the eleven months of the current fiscal year, the current level of reserves is sufficient for financing merchandise imports of 11.3 months and merchandise and service imports of 9.7 months, says NRB.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year.', 'sortorder' => '1288', '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' => '1425', 'article_category_id' => '109', 'title' => 'NBA Demands NRB To Relax Its Directives', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.<br /> <br /> They have also asked for relaxation on the requirement to increase their lending to manufacturing, agriculture and energy sectors. While earlier directive of the NRB requires them to have 20 percent of their loan outstanding on manufacturing sector by mid- July 2013, want the deadline extended till mid- July 2016. Similarly, they want NRB to extend the deadline till mid-July 2017 for increasing their loan outstanding on agriculture and energy sectors to 10 per cent. Earlier, NRB directive has set mid-July 2014 to meet this target. The bankers have also asked for reduction on the minimum amount of bank lending required to be in the deprived sector. They want this amount to be 3.5 percent instead of NRB’s earlier requirement of 4 percent.<br /> <br /> The association has also demanded for starting operation of Asset Management Company as soon as possible for the proper management of bad and doubtful loans. It has asked NRB also for taking up with the government the issue of implementing of Secured Transaction Act as soon as possible.Similarly, NBA has asked for permission to charge the customers for the cost incurred in cheque clearance through electronic clearance system. NBA has also asked NRB to increase the higher limit on Credit-Deposit Ratio (CD Ratio) from existing 80 percent to 85 percent.<br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.', 'sortorder' => '1287', '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' => '1424', 'article_category_id' => '109', 'title' => 'Nine BFIs Merged Into Three', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’. Similarly, Rara Bikas Bank, Royal Merchant Banking and Finance and Api Finance have merged to form ‘Apex Development Bank’. Also, the merger among Global IME Bank, Social Development Bank and Gulmi Development Bank has been approved.<br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’.', 'sortorder' => '1286', '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' => '1423', 'article_category_id' => '109', 'title' => 'Nepse On Bullish Trend With Mid-July Effect', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rashesh Vaidya</strong><br /> <br /> Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points. That was followed by the ‘others’ sector sub-index which increased by 23.49 points. As the market capitalization of Nepal Telecom increased heavily during the previous week, the ‘others’ sub-index saw a huge increment. The share price of Nepal Telecom increased by Rs 20 (closing at Rs 550) from a trading of 177,120 shares during the week.<br /> <br /> Similarly, increment in the share prices of Butwal Power Company and Chilime Hydropower Company by Rs 5 and Re 1 respectively caused increase in hydro-power sub-index. Decline in manufacturing and processing sub-index by 9.91 points during the week was due to the decline in share price of Unilever Nepal Ltd by Rs 200 per share closing at Rs 9800.<br /> <br /> As the closing of the fiscal year was coming nearer, investors are attracted to generate the shares of banks and financial institutions (BFIs) from which they expect dividends. On-going merger trend among the BFIs and the historical trend of high return during Mid-July (Mid-July Effect) from the Nepali stock market are also seen boosting the Nepali investors’ confidence during the week.<br /> <br /> Shares of 119 companies were traded at Nepse during the week through 5,412 transactions amounting to Rs 446,668,000. The share price of 68 companies increased while of 27 companies declined and 24 companies remained unchanged. The transaction amount of the week is 17.9 percent higher than that of earlier week. The total number of scrips traded was1,819,991 which is higher by 66,457 scrips than that of earlier week.<br /> <br /> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 641,020,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 395,011 scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (531).<br /> <br /> Similarly, a total of 920,000 right shares of Sewa Bikas Bank, and 2,250,000 ordinary shares of NLG Insurance, 40,000bonus shares of Seti Finance and 400,000 debentures of Bank of Kathmandu were listed during the week.<br /> <br /> <br /> <strong>Nepse on Sunday</strong><br /> <br /> Nepse Index closed at 511.07 points on Sunday (July 14). The index increased by 4.62 points from the Thursday (July 11) close. All the sectors sub-indices saw increment during the day. Hydro-power sub-index increased the highest by 23.85 points closing at 1065.28 points. Total of 225,296 shares were traded from 817 transactions during the day. Similarly, trading on stock symbol “NICA” has started after successful merger between NIC Bank Ltd and Bank of Asia Nepal Ltd forming NIC Asia Bank.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-25', '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 increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points.', 'sortorder' => '1285', 'image' => '1373893312.jpg', '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' => '1422', 'article_category_id' => '144', 'title' => 'Losing Currency', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The sharp decline in the value of the Nepali rupee in recent days has led to a clamour for the government to do something. This time, Nepal’s current currency depreciation has been created not due to Nepal’s own reason but due to pegged exchange rate with Indian currency. So, it is high time that the government dares to decide to discontinue pegged exchange rate with Indian currency. </span></div> <div> </div> <div> Though the continuous fall of the value of rupee has raised serious concern in India itself and the Indian government may do something to control the value of Indian rupee, Nepal should not just wait India’s action. It should do something on its own, if it is following an independent monetary policy. Otherwise, it may do better by declaring the Indian repee as its legal tender. </div> <div> </div> <div> The government and business community have had very little discourse about the problem and possible way out to control rupee depreciation. </div> <div> </div> <div> Countries with their currency pegged with another country’s currency are normally known to have weak capital markets and financial regulating mechanisms. In such a scenario, the peg helps create stability in the economy. Citing these very reasons, policymakers, politicians and even business community in Nepal have always favoured to have the pegged exchange rate with Indian Currency. </div> <div> </div> <div> But the recent massive depreciation of Indian currency has thrown all these logics out of the window and the situation calls for a serious debate on whether Nepali rupee should maintain the peg system. </div> <div> </div> <div> Theoretically, devaluation of currency is beneficial for exports, but in Nepal’s case that theory cannot apply as the country is heavily dependent on imports to meet consumer demand as well as for industrial raw material. Nepal exported merchandise worth Rs 69.93 billion during eleven months of 2012-13 while it imported goods worth Rs 508.60 billion, according to Current Macroeconomic Situation of Nepal released by Nepal Rastra Bank (NRB). </div> <div> </div> <div> The data clearly shows that Nepal has huge trade deficit and depreciation of rupees will have much more adverse impact on Nepali economy than would be the case in a country with relatively better trade balance. </div> <div> </div> <div> The pegging regime has both advantages and disadvantages. It helps to keep the fragile economy stable. But one never knows the real economic scenario of the country under such fixed exchange system. The Mundell-Fleming model, best known for its anti-pegged exchange rate philosophy, says that fixed exchange rate system restricts the effectiveness of having an independent monetary policy to achieve macroeconomic stability. </div> <div> </div> <div> In light of the Indian currency crisis, Nepal is desperately looking for best option to keep Nepali rupee stable. It is difficult to find a good solution to it as long as the pegged exchange rate system is not done away.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The sharp decline in the value of the Nepali rupee in recent days has led to a clamour for the government to do something.', 'sortorder' => '1284', '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' => '1421', 'article_category_id' => '145', 'title' => 'The Right Green Industrial Policies', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Dani Rodrik</span></strong></div> <div> </div> <div> The future of our planet depends on the world economy’s rapid transition to “green growth” – modes of production based on clean technologies that significantly reduce emissions of carbon dioxide and other greenhouse gases. Yet carbon remains badly mispriced, owing to fossil-fuel subsidies and the absence of tax revenues needed to address the global externalities of climate change. </div> <div> </div> <div> In this context, subsidies that promote the development of green technologies – wind, solar, bio-energy, geothermal, hydrogen, and fuel-cell technologies, among others – are doubly important. First, they nudge pioneers to invest in uncertain, risky ventures, with the resulting research-and-development efforts generating highly valuable social benefits. Second, they counter the effects of carbon mispricing on the direction of technological change. </div> <div> </div> <div> These two considerations provide mutually reinforcing reasons for governments to nurture and support green technologies. Such support has, in fact, become extensive, both in advanced and emerging economies. Look around these economies and you will find a bewildering array of government initiatives designed to encourage renewable-energy use and stimulate green-technology investment. </div> <div> </div> <div> Although full pricing of carbon would be a far better way to address climate change, most governments apparently prefer to rely on subsidies and regulations that increase the profitability of investments in renewable energy. Often, the authorities’ motive seems to be to give domestic industries a leg up in global competition. </div> <div> </div> <div> Normally, we would consider these competitive motives to be beggar-thy-neighbor in nature. Market-share considerations are zero-sum from a global standpoint in traditional industries, and any resources invested in generating national gains come at the cost of global losses. </div> <div> </div> <div> But in the context of green growth, national efforts to boost domestic green industries can be globally desirable, even if the motives are parochial and commercial. When cross-border spillovers militate against taxing carbon and subsidizing technological development in clean industries, boosting green industries for competitive reasons is a good thing, not a bad thing. </div> <div> </div> <div> Opponents of industrial policy rely on two arguments. The first is that governments do not have the information needed to make the right choices about which firms or industries to support. The second is that once governments are in the business of supporting a particular industry, they become vulnerable to rent-seeking and political manipulation by well-connected firms and lobbyists. In the United States, the 2011 bankruptcy of Solyndra – a solar cell manufacturer that folded after having received more than a half-billion dollars in government loan guarantees –seems to illustrate both failures. </div> <div> </div> <div> In reality, the first of these arguments – lack of omniscience – is largely irrelevant, while the rent-seeking problem can be overcome with appropriate institutional design. Good industrial policy does not rely on governments’ omniscience and ability to pick winners; indeed, failures are an inevitable and necessary part of a well-designed program. </div> <div> </div> <div> While it is too early to reach a conclusive verdict on the US loan-guarantee program, it is clear that the Solyndra case cannot be properly evaluated without taking into account the many successes that the program has spawned. Tesla Motors, which received a $465 million loan guarantee in 2009, has seen its shares soar and has repaid its loan early. An evaluation of US Department of Energy efficiency programs found that the net benefits amounted to $30 billion – an excellent return for an investment of roughly $7 billion over 22 years (in 1999 dollars). Interestingly, much of the positive impact resulted from three relatively modest projects in the building sector. </div> <div> </div> <div> Intelligent industrial policy requires mechanisms that recognize errors and revise strategies accordingly. Clear objectives, measurable targets, close monitoring, proper evaluation, well-designed rules, and professionalism provide useful institutional safeguards. As challenging as applying them may be, they constitute a much less formidable requirement than that of picking winners. Moreover, an explicit industrial policy – conducted self-consciously and designed with pitfalls in mind – is more likely to overcome the typical informational and political barriers than one that is implemented surreptitiously, as is too often the case. </div> <div> </div> <div> Green industrial policy can be damaging when national strategies take the form not of subsidizing domestic industries but of taxing foreign green industries or restricting their market access. The case of solar panels provides a cautionary tale. Trade disputes between China, on the one hand, and the US and Europe, on the other, have attracted much attention. Fortunately, this is the exception rather than the rule for green industrial policy. Trade restrictions have so far played a small role relative to subsidies to domestic industries. </div> <div> </div> <div> In practice, we are unlikely to get purely green industrial policy, which would focus solely on the development and diffusion of green technologies while excluding considerations of competitiveness, commercial gain, and employment growth. Indirect but politically salient objectives such as “green jobs” will most likely continue to present a more attractive platform for promoting industrial policy than alternative energy or clean technologies. </div> <div> </div> <div> From a global standpoint, it would be far better if concerns about national competitiveness were to lead to a subsidy war, which expands the global supply of clean technologies, rather than a tariff war, which restricts it. So far, we have been getting the former, though there is no way to determine whether, or for how long, this trend will continue. </div> <div> </div> <div> <span style="font-size:11px;"><em>(Dani Rodrik, Professor of Social Science at the Institute for Advanced Study, is the author of The Globalization Paradox: Democracy and the Future of the World Economy.) </em></span></div> <div> </div> <div> <em>Copyright: Project Syndicate, 2013.</em></div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'Green industrial policy can be damaging when national strategies take the form not of subsidizing domestic industries but of taxing foreign green industries or restricting their market access. The case of solar panels provides a cautionary tale. Trade disputes between China, on the one hand, and the US and Europe, on the other, have attracted much attention.', 'sortorder' => '1283', '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' => '1420', 'article_category_id' => '142', 'title' => 'Poll Update (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Vice Chairman of the CPN (UML) Bamdev Gautam" src="/userfiles/images/gautsm.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 117px;" /></div> <div> <strong style="font-size: 12px;">Timely Election is Crucial: Gautam </strong></div> <div> </div> <div> Vice Chairman of the CPN (UML) Bamdev Gautam has said that the country would turn into a failed state if the Constituent Assembly (CA) poll is not held on the scheduled date of November 19. Stating that the CPN-Maoist´s demand for the dissolution of the Khil Raj Regmi-led government is futile, he said their demands are not acceptable to his party. Gautam also said that his party is ready for the CA polls. “Our party cadres have already reached many constituencies and it is likely that we will win with a majority.” </div> <div> </div> <div> </div> <div> </div> <div> <strong>November Elections Impossible: Pokharel </strong></div> <div> <img alt="Former Chief Election Commissioner Bhojraj Pokharel " src="/userfiles/images/pokhrel.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 108px;" /></div> <div> Former Chief Election Commissioner Bhojraj Pokharel has said that an election in November is impossible because of the government and some political parties. “Old characters do not want change in the rules,’’ Pokharel said speaking at a programme in the capital. Pokharel suggested that a round table talk would be the solution to the on going problems. That should be followed by formation of regulations, and party registration within 45 days. He also claimed that the political parties and the election commission have already agreed secretly to conduct elections in April next year.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'November Elections Impossible:', 'sortorder' => '1282', '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' => '1419', 'article_category_id' => '141', 'title' => 'News In Brief (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Political Parties Most Corrupt in Nepal: TI Survey </strong></div> <div> </div> <div> A study conducted by Transparency International (TI) has found that political parties are the most corrupt among institutions in Nepal. Seventy percent of the total respondents surveyed in 58 municipalities in Nepal answered that political parties are the most corrupt, followed by public service and bureaucracy (66 percent), the police (58 percent), the parliament (51 percent), the judiciary (51 percent) and the private sector (30 percent) which made it to the top five positions. Questions regarding the lodging of complaints against corruption received positive answers from 61 percent of the respondents whereas the remaining 43 percent said they are not aware of any institution where such complaints could be filed. Thirty-nine percent of the respondents said they were not optimistic that action would be taken even if complaints were lodged. Likewise, 40 percent of the respondents said that they bribed officials for getting land-related problems solved. Thirty-seven percent claimed to have paid bribes for judicial services, whereas 30 percent revealed to have done the same with the police. </div> <div> </div> <div> <strong>Nepal to Send 260 Peacekeepers to Syria </strong></div> <div> </div> <div> The Cabinet on Thursday decided to send 260 Nepal Army personnel in war-ravaged Syria. The Nepali peacekeepers will work under the UN Supervision Mission in Syria (UNSMIS) which was set up in 2012. According to the Minister for Information and Communications, Madhav Prasad Paudel, the government has decided to dispatch 260 peacekeepers to Syria in two phases. The fist contingent of 130 NA personnel will reach Syria by the end of July, while the remaining will head for the country in September, Paudel said. Nepal has been contributing troops to UN peacekeeping operations since 1958. </div> <div> </div> <div> <strong>China didn’t Ask Us to Take Part in Election: Gajurel </strong></div> <div> </div> <div> CPN-Maoist Vice Chairman CP Gajurel, speaking at a programme organised in the Capital on Friday, said that his recent visit to China was not entirely focused on the issue of CA elections in Nepal. The Chinese authorities did not say anything about the election in Nepal for it was an internal issue. China, however, wants to see lasting peace and the end of the transitional phase, according to Gajurel. “The rumour that our party is close to China and distant from India is not true,” he added. Gajurel and his party Chairman Mohan Baidya had gone to China earlier this week upon invitation of the Community Party of China (CPC). </div> <div> </div> <div> <strong>Khursid’s Day-long Kathmandu Visit </strong></div> <div> </div> <div> Indian Minister for External Affairs Salman Khurshid visited Kathmandu on July 9 and returned to New Delhi on same evening. Khurshid met top leaders of UCPN (Maoist), Nepali Congress, CPN-UML and other Madhes-based parties in Kathmandu. He also met Chairman of the Interim Council of Ministers Khil Raj Regmi. A Memorandum of Understanding (MoU) was signed during the meeting to provide 764 vehicles for the upcoming Constituent Assembly (CA) election. Finance Secretary Shantaraj Subedi and Indian envoy Jayanta Prasad signed the MoU. </div> <div> </div> <div> <strong>Election Office Enlists Voters Even on Saturday </strong></div> <div> </div> <div> The Election Commission continued the task of enlisting voters even on Saturdays in all 75 districts due to high pressure of turnout. The commission has stipulated July 15 as the last day for enlisting names in voters´ lists across the country. Due to increasing numbers of prospective voters, the task will be performed even on Saturdays, said Bir Bahadur Rai, spokesperson of the commission.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'A study conducted by Transparency International (TI) has found that political parties are the most corrupt among institutions in Nepal.', 'sortorder' => '1281', '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' => '1418', 'article_category_id' => '152', 'title' => 'Focus Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Aaron Helmets & Accessories</strong><br /> <br /> Incorporated in the year 2007, Mutual Crafts Pvt Ltd is one of the leading names engaged in the manufacture and supply of high quality and wide range of motorcycle helmets. The company, that manufactures Aaron Helmets, provides both open face and full face helmets to its valued clients. Mutual Crafts has been able to carve a niche in the domestic as well as overseas markets through its dedicated services and quality products. Its wide range of products is widely appreciated for its strength, protective features and reliability. This selection of products is efficient in meeting safety and racing standards and also characterized with stylish designs. Further, the company also provides customization as per the requirements and specifications of its esteemed clients. Its highly qualified and dedicated team of professionals is able to provide utmost satisfaction with on-time delivery of the products. It ensures to deliver the products after comprehensive research and stringent tests to assert international standards of quality and safety. Mutual Crafts maintains an up-to-date infrastructure as a necessity towards maintaining quality product attributes. An ISI & ISO 9001:2008 Certified Company, Mutual Crafts is a Delhi, India based leading manufacturer, supplier and exporter of motorcycle helmets and offers a wide array of full face and open face helmets.<br /> <br /> <br /> <img alt="bm" src="/userfiles/images/BM.jpg" style="width: 230px; height: 209px; margin: 10px;" /><br /> <strong>BM Motorcycle Helmets</strong><br /> <br /> AMR Industry Company Limited was established in February 2003. This Thailand based company’s commitment is to satisfy customers’ needs by manufacturing superfine quality motorcycle helmets under the brand ‘BM’ which is qualified by Thai Industrial Standard Institute (TISI 369-2539). Since its start, the company has continuously indulged in improvement and innovation of its products to answer customers’ satisfaction.<br /> <br /> <br /> <img alt="" src="/userfiles/images/apex.jpg" style="width: 238px; height: 206px; margin: 10px;" /><br /> <br /> <strong>AVEX Safety Helmets</strong><br /> <br /> P Narong and PNI Company Limited has over 20 years of experience on knowledge and ability to produce AVEX Safety Helmet and the various types of plastic injection. Additionally, all manufacturing processes are considerately performed by the modern machines not only under the qualitative control of professional working team but also the quality system of ISO 9001 Version 2000. Apart from the standard, AVEX Safety Helmet is welcomed and admired from the users because of its beautiful shape in accordance with the aerodynamic principle. AVEX Safety Helmet is welcomed and trusted by the customers and the product has been continuously exported or distributed for more than two decades. The company, originated in Thailand, aims to provide qualitative product trusting the executive management under the system of ISO 9001:2000 in order to fulfill the confidence and the satisfactory of the customers in accordance with the quality policy and provide qualitative product meeting the customers’ requirements.<br /> <br /> <img alt="yohe" src="/userfiles/images/yohe.jpg" style="width: 205px; height: 204px; margin: 10px;" /><br /> <br /> <strong>YOHE Helmets</strong><br /> <br /> YOHE is one of the largest motorcycle helmets designing and manufacturing company. Foshan Nanhai YOHE manufacturing Co, Ltd was founded in June 1992 and located in Guangdong province, China. The more than 1000 workers of YOHE produce over 3.9 million pieces of helmets per year. YOHE gained ISO 9001:2000 certificate in 1993, and has a high reputation among all the Bureau of Quality and Technical Supervisions. YOHE’s customers are spread worldwide with Europe and America, Australia and Asia being the major markets.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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' => 'Incorporated in the year 2007, Mutual Crafts Pvt Ltd is one of the leading names engaged in the manufacture and supply of high quality and wide range of motorcycle helmets. The company, that manufactures Aaron Helmets, provides both open face and full face helmets to its valued clients. Mutual Crafts has been able to carve a niche in the domestic as well as overseas markets through its dedicated services and quality products. Its wide range of products is widely appreciated for its strength, protective features and reliability. This selection of products is efficient in meeting safety and racing standards and also characterized with stylish designs.', 'sortorder' => '1280', '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' => '1417', 'article_category_id' => '140', 'title' => 'Nepal Ain’t Egypt Yet', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Upashana Neupane</span></strong></div> <div> </div> <div> Former Prime Minister Dr Baburam Bhattarai tweeted recently: “Military coup to oust a democratically elected government in Egypt is a bad omen for all transitional democracies. Let’s all be cautious.” </div> <div> </div> <div> Nepal however is way different than Egypt, in this context. We must view this positively that despite the prolonged political transition, Nepal did not go by Egypt’s footsteps. There were numbers of government failures time and again in Nepal which gave ample opportunity for a coup. But this did not happen. This might be because the Nepali Army, unlike Egyptian counterpart, has not tasted the power. However, there are other reasons as well which prove that Nepal’s democratic fundamentals are still strong enough to avoid the happening like that in Egypt. </div> <div> </div> <div> For starters, Nepalis have been practicing democracy for long. Even before the restoration of multi-party parliamentary democracy after the people’s movement of 1990, there were comparatively better democratic practices in Nepal than in Egypt. </div> <div> </div> <div> Thus, Nepal’s democracy is matured and internalized. Nepal’s political transitions have not ben so tumultuous as Egypt. Even the abolition of monarchy was peaceful. </div> <div> </div> <div> On the other hand, Egypt’s democracy was still an embryo when Muhammad Morsi was deposed in a military coup early this month. </div> <div> </div> <div> Egyptians had no time to internalize the democracy. They removed Mubarak and elected new government with Morsi as president and made a constitution in a hasty manner. And they did away with existing institutions as fast and hastily as they were made. </div> <div> </div> <div> But in case of Nepal, politicial leaders are still engaged with each other discussing over the disputes and misunderstandings. Such a debate (though frustrating at times) is a good sign, reducing the risk factors for possible future confrontation. </div> <div> </div> <div> Another reason for Egypt’s current revolution is religious factionalism. Mohammed Morsi went Islamic fundamentalist way which was not convincing to the 21st century secular forces. Though indications of ethnic factionalism were visible in Nepal too, we have to thank our political leaders that they did not allow it to flare up. </div> <div> </div> <div> However, one cannot completely rule out the possibility of repeating the Egypt’s history in Nepal. The protracted political transition in the country and failure to meet the people’s expectations can lead to national frustration, creating enough space for military coup. </div> <div> </div> <div> The risk factors thus cannot and should not be neglected. To avoid these risks, there is no any other alternative than Constituent Assembly (CA) elections. </div> <div> </div> <div> Delaying the elections again will surely damage whatever hope the people have. But CA elections will not be enough. There should be elections to the Local Government Bodies as well. There are no elected representatives of the people in the local bodies for the last 14 years. Prolonging this vacuum can be very dangerous.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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’s democratic fundamentals are still strong enough to avoid the happening like that in Egypt.', 'sortorder' => '1279', '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' => '1416', 'article_category_id' => '153', 'title' => 'Safety Helmets For Two-wheelers', 'sub_title' => '', 'summary' => null, 'content' => '<p> A salesgirl taking out a helmet for a customer at Tripureshwor based Vicky Auto Parts. The company’s Managing Director Sajjan Jajodia informed that his store sells helmets in the price range of Rs 700 to Rs 6,000.<br /> <br /> <strong>Photo: Rukesh Shrestha/TC</strong><br /> <br /> <br /> <br /> <br /> <br /> The safety helmets available in Nepal are mostly imported from India, China, Thailand and Malaysia in addition to a few European brands. Some Nepal made helmets too have also gained popularity in the market in recent times.<br /> <br /> <strong>By Pinaki Roy</strong><br /> <br /> <br /> <br /> <br /> <br /> In the current financial year 2069-2070 BS, an estimated 180,000 two-wheelers have been sold in the Nepali market, industry analysts said. This sales figure is attributed to people’s growing desire to enhance mobility and save time in addition to the fact that two-wheelers also help its riders in negotiating narrow alleys.<br /> <br /> <strong>Safety Rider</strong><br /> <br /> Every two-wheeler that gets sold in the market also opens the possibility of sales of safety helmets. “Looking from a safety perspective, it is recommended that riders use full helmets,” a trader said. However, in the Nepali market, the consumption of helmets that cost cheaper is more than the helmets that provides complete protection of the head. “Only about 10 per cent of helmet buyers look for such safe helmets,” he added. These helmets are manufactured keeping in mind regulated standards and thus cost more. The decline in demand for quality helmets has forced traders to import cheaper and stylish products to cater to the market. Even though safety is the primary reason for wearing helmets, traders said that most riders do not change their helmets till the time they get completely damaged.<br /> <br /> Bharat Tibrewala, Director of MRD Auto, said, “There is a lack of awareness as most people wear helmets only for the fear of traffic police and not for safety.” He added that helmets provide safety to both the rider and the pillion rider and people must look to buy quality helmets. MRD Auto has around 40-50 vendors across Nepal who sell its helmets that cost between Rs 1,000 and Rs 2,500. Sajjan Jajodia, the Managing Director of Vicky Auto Parts and Vaani Auto Trade, said, “We currently sell around 30 pieces of helmets daily.” He informed that his company sells Index, Aaron, Vstar and STM brands of helmets among others.<br /> <br /> <br /> <strong>Imported Lot</strong><br /> <br /> Most helmet brands that sell in Nepal are imported from countries like India, China, Thailand and Malaysia. There are a few quality brands too available in the market that are manufactured in European countries. Some Nepal made helmets, which are manufactured in the country after importing raw materials from India, have also gained popularity in the market in recent times. Traders claim that the helmets manufactured in Nepal cost comparatively lesser than their imported counterparts. STM, Index, MRC, Avex, AMG, Aaron, BM and Snell are some of the more popular brands in the Nepali market while a few European brands such as Held and RPM are also available in the stores.<br /> <br /> <br /> <strong>Price Range</strong><br /> <br /> Depending on quality and design, helmets available in the Nepali market cost anything from Rs 500 to Rs 12,000. While the helmets manufactured in Nepal cost in the price range of Rs 500 to Rs 1,500, the ones imported from India, China, Thailand and Malaysia cost between Rs 1,500 and Rs 3,500 on an average. Kathmandu Valley alone has over 350 helmet shops and there is a total investment of around Rs 1 billion in the trade. While even a small store attracts a minimum investment of Rs 500,000, traders said there are stores in the Valley that have opened with investments of Rs 4 million or more.</p> <p> <br /> <br /> <strong>Variety Galore</strong><br /> <br /> People use helmets according to their age, gender, profession and income, observed traders. Women mostly wear half-helmets and cap-helmets while young men usually fancy wearing full helmets. Similarly, male riders pursuing professional careers are more inclined towards half helmets. Two-wheeler riders, who are comparatively well-off, change helmets according to the season – wearing full helmets during the winter while using half-helmets or cap-helmets in the summer. The two-wheeler model also determines the choice of helmet with people riding scooters wearing half-helmets or cap-helmets while those riding sporty motorbikes wearing full helmets.<br /> Business Challenge<br /> <br /> Traders dealing with helmets said their sales have dropped to 50 per cent over the last few years despite that fact that the sales of two-wheelers have continued to grow. It is because a number of motorcycle distributors provide helmet free with two-wheelers these days. Traffic Police in the capital had made helmets compulsory for pillion riders, along with the motorbike rider, in 2008. Due to the rule, helmet sales was at its peak around that time, however, the sales of helmets was hit hard ever since the rule was scrapped almost three years ago. The helmet sales was further hit after the dealers of two-wheelers started doling out free helmets with every purchase.<br /> A trader mentioned that since some of the companies provide helmets free of cost, the customers buy fresh helmets only after the older one becomes useless. Traders further said that a drop in sales of reconditioned bikes has also affected helmet sales. “It is become increasingly difficult to survive by selling helmets alone.”<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 safety helmets available in Nepal are mostly imported from India, China, Thailand and Malaysia in addition to a few European brands. Some Nepal made helmets too have also gained popularity in the market in recent times.', 'sortorder' => '1278', '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' => '1415', 'article_category_id' => '140', 'title' => '‘The Government Should Take Initiative To Narrow Down Differences’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Surendra Pandey ,leader of Communist Party of Nepal, United Marxist-Leninist (CPN-UML)" src="/userfiles/images/surendra.jpg" style="float: right; margin: 0px 10px 0px 0px; width: 225px; height: 265px;" /></div> <div> <span style="font-size:14px;">Surendra Pandey a leader of Communist Party of Nepal, United Marxist-Leninist (CPN-UML) is a former Minister of Finance. He spoke with Siromani Dhungana and Pritica Sharma of the The Corporate about contemporary political scenario in the country. <strong>Excerpt: </strong></span></div> <div> </div> <div> <strong>Is it possible to hold elections in the stipulated time? </strong></div> <div> </div> <div> Election should be possible but the primary concern is whether the government is determined to hold election or not. Baidya-led Maoist and some other political forces including Federal Socialist Party and People’s Right Forum have been saying that they will not take part in the election but they have not said that they will obstruct election either. The government should take initiative to narrow down the differences. The government should continue these two things together. On the one hand, it should work to create conducive environment for the election. On the other, it should continue dialogue with dissident parties. This approach will help reduce differences and foster favourable environment for the CA election. </div> <div> </div> <div> <strong>Can the bureaucrats-led government directly talk with political forces? </strong></div> <div> </div> <div> This government has both advantages and disadvantages. There is a genuine question whether this government can present its strong determinism to solve political differences. Similarly, single agenda of the government is to hold election. This government has more flexibility in terms of political ideology and stand. Political parties could not reach a compromise due to their own political ideologies and interests but this government is free from that. </div> <div> </div> <div> <strong>But it is often blamed that this government is not accountable to the people due to its apolitical nature. The government is keen to involve itself in employees transfer and other controversial decisions. In this regard, how can this government be free of vested interests? </strong></div> <div> </div> <div> I have also heard some complaints about this. Accordingly, some ministers have been saying that this government will continue for long time. The mandate of the government to hold election will expire on mid-December though Nepali Congress leader Krishna Sitaula has recently said that this government will continue for four years if the election is not held on time. Who is Krishna Sitaula to claim this? He expressed this as if he is a person who can form and dissolve the government. I don’t think Krishna Sitaula alone can form or dissolve the government. In my opinion, the tenure of the government cannot extend beyond mid-December and the government should be aware of this fact. </div> <div> </div> <div> <strong>Is there rapid polarization between political philosophies in Nepal or it is merely conflict of vested interest? </strong></div> <div> </div> <div> Both are there along with provocation of various interest groups. There are some political concerns, some vested interests and some provocations. Together these three things have fuelled the current political crisis. Therefore, political problems such as federalism and other constitution related issues should be sorted out at political level. Similarly, election is very essential to measure political parties’ strength. No political party should fear from the election. Political parties should refrain from shortsightedness, selfishness and provocation from unwarranted groups rather they should be focused on their own agendas for the betterment of overall political scenario of the country. A statesman should take decision based on his own conscience. </div> <div> </div> <div> <strong>Can this government conduct free and fair CA election? </strong></div> <div> </div> <div> There are a number of questions and doubts whether this government can hold free and fair election. During the short tenure, this government has failed to regulate the market and have done several activities which were not mandated to this government. However, political parties should create pressure to this government to hold the election on time. </div> <div> </div> <div> <strong>What’s your opinion about budget from this government? </strong></div> <div> </div> <div> Budget should not be delayed. It should be brought on time as per doctrine of necessity though there is not any accountability mechanism. We have a government and it should be allowed to bring budget. The question is: whether the government can change the policy or not? In my opinion, this government should not change major policies. The primary mandate of this government is to hold the election and the government is bringing the budget after the date for election has been declared. In this context, the government should realize its limitations. First, it should not introduce any new programme. Similarly, this government should not formulate a new policy due to lack of political mandate from the people. Similarly, this government should be aware of lack of accountability mechanism in absence of parliament. The government is introducing the budget through ordinance so it should not exaggerate the budget issue.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', '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' => 'Election should be possible but the primary concern is whether the government is determined to hold election or not.', 'sortorder' => '1277', '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' => '1414', 'article_category_id' => '100', 'title' => 'Tourism Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>More Tourists in Namje</strong><br /> <br /> The number of tourists visiting Namje Bazaar, Bhedetar has increased after the commencement of home stay in the area. Namje Bazaar is listed in 12th number in CNN’s world destinations. With the increment in the number of tourist in Namje, 10 more houses have recently started providing home stay services. Tourists are more attracted towards home stay as it is comparatively affordable than hotels and lodges, and they offer family as well. The tourists choosing home stay are provided with local food products like maize, oats, millet, organic vegetables etc. According to a local home stay owner, tourists are charged Rs 400 to Rs 500 for a night. Nine locations in Namje are recently declared as tourist destination, including Magar Museum, drinking water project and organic agro-production area among others.<br /> <br /> <br /> <strong>Etihad’s Second Quarter and First Half Results</strong><br /> <br /> Etihad Airways has announced its second quarter and half-year financial performances. According to a press statement, the results reflect continued growth in the airline alliance strategy and global cargo operations. The airline achieved an eight per cent increase in second quarter of 2013 in passenger revenues, generating 921 million USD which was 855 million USD in 2012. The passenger revenues for the first half of 2013 reached 1.8 billion USD as compared to 1.6 billion USD in 2012, which is an increase of 13 per cent. Revenue generated by codeshare and equity alliance airline partners was 184 million USD second quarter of 2013. This is 25 per cent more than the turnover in the same period of 2012. Partnership revenue comprised 20 per cent of the airline’s total passenger revenue in both second quarter and the first half of 2013. (Traveldailynews.com)<br /> <br /> <br /> <strong>European Commission Updates EU Air Safety List</strong><br /> <br /> The European Commission has updated for the 21st time the European list of airlines subject to an operating ban or operational restrictions within the European Union, known as ’The EU air safety list’. Following improvements in the safety situation in the Philippines, Philippine Airlines is the first airline from this country allowed back into European skies since 2010. The same is true for the Venezuelan airline Conviasa, which was banned in 2012. Progress was also noted in Libya but the Libyan authorities agreed that Libyan airlines would not be allowed to operate in Europe until they are fully recertified to the satisfaction of the European Union. Taking into account the improved safety oversight provided by the authorities of the Philippines, and the ability of the air carrier Philippine Airlines to ensure effective compliance with relevant aviation safety regulations, it was decided to lift the ban affecting this carrier registered in the Philippines.<br /> <br /> <br /> <strong>HotelMapper.com Reveals Top Ten Travel Destinations of 2013</strong><br /> <br /> HotelMapper.com, a leading hotel reservation website has announced the results of hotel reservation trends for the first part of 2013. Beach destinations proved most popular, followed by New York and Los Angeles, with European travel and theme park destinations showing a decrease over the last 12 months.<br /> <br /> <strong>Top International Cities for Travel 2013</strong><br /> <br /> 1. Paris, France<br /> 2. Madrid, Spain<br /> 3. Rio De Janeiro, Brazil<br /> 4. Cancun, Mexico<br /> 5. Rome, Italy<br /> 6. Cairns, Australia (Queensland)<br /> 7. London, United Kingdom<br /> 8. Venice, Italy<br /> 9. Seoul, Korea<br /> 10. New Delhi, India<br /> <strong>(Traveldailynews.com)</strong><br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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 number of tourists visiting Namje Bazaar, Bhedetar has increased after the commencement of home stay in the area. Namje Bazaar is listed in 12th number in CNN’s world destinations. With the increment in the number of tourist in Namje, 10 more houses have recently started providing home stay services. Tourists are more attracted towards home stay as it is comparatively affordable than hotels and lodges,', 'sortorder' => '1276', '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' => '1428', 'article_category_id' => '151', 'title' => 'Experiential Learning At Toastmasters', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Ashok Poudel</strong></div> <div> </div> <div> E very individual wants to be smart, confident, a good speaker and a better leader. We manage to get into a profession through our educational accomplishments, but we may lack certain speaking, leading and communicating skills that may have been overlooked by the education system. However, there are certain organisations and clubs established to nurture them, among which Toastmaster International is one. </div> <div> </div> <div> Toastmaster was established in 1924 with the mission to provide a mutually supporting and positive learning environment. Every member at Toastmaster has the opportunity to develop communication and leadership skills which helps to foster self-confidence and personal growth. It has now been an international organisation with nearly three hundred thousand members. Around four million people have become more confident speakers and leaders because of their participation in Toastmasters till the date from its establishment. </div> <div> </div> <div> In Nepal, four Toastmaster clubs are in operation as sub-divisions of Toastmaster International. They are Himalaya Toastmasters, Kathmandu Toastmasters, Everest Toastmasters and Sangrila Toastmasters, which opened recently. Many people have been thankful to the organisation as the skills they have learned from it have helped them stand out. </div> <div> </div> <div> There are no instructors in a Toastmasters meeting--a session where 30-40 people participate. Instead, members evaluate each other’s presentations and give feedback. This process is a key part of the program’s success. The participants also give impromptu talks on assigned topics, conduct meetings and develop skills related to timekeeping, grammar and parliamentary procedure. Members learn communication skills by working on the competent communication manual, a series of 10 self-paced speaking assignments designed to instill a basic foundation in public speaking. Members also learn leadership skills by taking on various roles and working on the competent leadership manual. This learn-by-doing approach does not lecture members about leadership skills, but gives them a share of responsibilities they have to carry out. </div> <div> </div> <div> President of Himalaya Toasmasters club (HMC), Nisi Khetan believes that Toastmasters boosts self-confidence encourages one to be a leader and an effective communicator. Bipul Raj, a member from the Himalaya Toastmasters Club shares his experience with great pleasure and satisfaction that Toastmasters have helped boosts his confidence over communication and leadership skills.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', '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' => 'There are no instructors in a Toastmasters meeting--a session where 30-40 people participate. Instead, members evaluate each other’s presentations and give feedback.', 'sortorder' => '1290', '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' => '1427', 'article_category_id' => '108', 'title' => 'News In Brief (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Ahluwalia new CEO of Everest Bank</strong><br /> <br /> AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.<br /> <br /> <strong><img alt="nbdbank" src="/userfiles/images/NMB.jpg" style="width: 220px; height: 73px; margin: 10px;" /><br /> <br /> NMB Sulav Investment Fund-I Coming</strong><br /> <br /> NMB Bank is bringing ‘NMB Sulav Investment Fund-I’ in first quarter of the coming Nepali fiscal year. The Rs 60 million fund is closed-end are with five years maturity period. The bank is going to invest 60 percent of the fund on shares and 40 percent on debentures. The unit holders are promised 12 percent annual return. NMB Capital Limited has been appointed as the issue manager of the fund.<br /> <br /> <br /> <br /> <img alt="banijya" src="/userfiles/images/banijya.jpg" style="width: 203px; height: 78px; margin: 10px;" /><br /> <strong>RBB Dullu Branch Reinstated</strong><br /> <br /> Rastriya Banijya Bank reinstated its Dullu Branch on Tuesday (July 9). The branch was inaugurated by Nepalgunj Regional Office Chief Bir Banahur Chand.<br /> <br /> <br /> <br /> <img alt="ndep" src="/userfiles/images/NDEP.jpg" style="width: 128px; height: 112px; margin: 10px;" /><br /> <br /> <img alt="hama" src="/userfiles/images/HAMA.jpg" style="margin: 10px; width: 197px; height: 72px;" /><br /> <strong>NDEP Hama Merger Cancelled</strong><br /> <br /> The merger process between Hama Merchant and Finance Ltd and NDEP Development Bank has been cancelled. The reason for the decision is to open the path to merge both of these BFIs with Prabhu Finance, says the sources. To further strengthen capital position and consolidate its presence on the market, Prabhu Finance has simultaneously initiated merger talks with NDEP Development Bank and Hama Merchant Bank.<br /> <br /> <img alt="Hama Merchant Finance" src="/userfiles/images/NepalBank.jpg" style="width: 147px; height: 119px; margin: 10px;" /><br /> <br /> <strong>NBL Right Shares Undersubscribed</strong><br /> <br /> The rights shares issued by Nepal Bank has fallen 8 percent short of being fully subscribed as the money collected by the end of closing day was only 92 percent of the total issue. As per a press statement, the bank will sell the remaining shares in a manner prescribed in the law. The bank got Rs 1.40 billion worth of applications for the rights shares from the government alone, which has 38.6 percent stake in the bank. Likewise, it collected Rs 1.93 billion from other shareholders who own 61.4 percent stake in the bank. The total collection from this rights issue stands at Rs 3.33 billion.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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' => 'AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. “Ahluwalia has more than 32 years of banking experience at Punjab National Bank India and has held the post of deputy general manager in parent organization,” the statement said. Ahluwalia has key expertise in credit and recovery.', 'sortorder' => '1289', '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' => '1426', 'article_category_id' => '109', 'title' => 'Trade Deficit Above Rs 400 Billion', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> The trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year. The high dependency on India for petroleum products is cited as the cause for the heavy increase in trade deficit with India. However, Trade and Export Promotion Centre (TEPC) brought about a slightly different report on the same day with trade deficit figure of Rs 4.8 billion.<br /> <br /> According to NRB, the workers’ remittances rose by only 21.3 percent to Rs. 388.46 billion compared to an increase of 39.6 percent in the same period of the previous year. In USD terms, remittance inflow increased by 11.8 percent to USD 4.45 billion during the review period compared to an increase of 25.2 percent in same period of the previous year. As per NRB, due to high growth of imports compared to exports, the ratio of export to import declined to 13.7 percent in the review period from 16.0 percent a year ago.<br /> <br /> The gross foreign exchange reserves in USD terms increased by 11.3 percent to USD 5.52 billion in mid-June 2013. Such reserves had increased by 25.6 percent in the same period of the previous year. Likewise, during eleven months of 2012/13, the inconvertible foreign exchange reserves increased by 17.6 percent to Indian Rupees 71.0 billion. Such reserves had increased by 89.7 percent during the same period of the previous year. On the basis of trend of import during the eleven months of the current fiscal year, the current level of reserves is sufficient for financing merchandise imports of 11.3 months and merchandise and service imports of 9.7 months, says NRB.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year.', 'sortorder' => '1288', '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' => '1425', 'article_category_id' => '109', 'title' => 'NBA Demands NRB To Relax Its Directives', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.<br /> <br /> They have also asked for relaxation on the requirement to increase their lending to manufacturing, agriculture and energy sectors. While earlier directive of the NRB requires them to have 20 percent of their loan outstanding on manufacturing sector by mid- July 2013, want the deadline extended till mid- July 2016. Similarly, they want NRB to extend the deadline till mid-July 2017 for increasing their loan outstanding on agriculture and energy sectors to 10 per cent. Earlier, NRB directive has set mid-July 2014 to meet this target. The bankers have also asked for reduction on the minimum amount of bank lending required to be in the deprived sector. They want this amount to be 3.5 percent instead of NRB’s earlier requirement of 4 percent.<br /> <br /> The association has also demanded for starting operation of Asset Management Company as soon as possible for the proper management of bad and doubtful loans. It has asked NRB also for taking up with the government the issue of implementing of Secured Transaction Act as soon as possible.Similarly, NBA has asked for permission to charge the customers for the cost incurred in cheque clearance through electronic clearance system. NBA has also asked NRB to increase the higher limit on Credit-Deposit Ratio (CD Ratio) from existing 80 percent to 85 percent.<br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.', 'sortorder' => '1287', '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' => '1424', 'article_category_id' => '109', 'title' => 'Nine BFIs Merged Into Three', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’. Similarly, Rara Bikas Bank, Royal Merchant Banking and Finance and Api Finance have merged to form ‘Apex Development Bank’. Also, the merger among Global IME Bank, Social Development Bank and Gulmi Development Bank has been approved.<br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’.', 'sortorder' => '1286', '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' => '1423', 'article_category_id' => '109', 'title' => 'Nepse On Bullish Trend With Mid-July Effect', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rashesh Vaidya</strong><br /> <br /> Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points. That was followed by the ‘others’ sector sub-index which increased by 23.49 points. As the market capitalization of Nepal Telecom increased heavily during the previous week, the ‘others’ sub-index saw a huge increment. The share price of Nepal Telecom increased by Rs 20 (closing at Rs 550) from a trading of 177,120 shares during the week.<br /> <br /> Similarly, increment in the share prices of Butwal Power Company and Chilime Hydropower Company by Rs 5 and Re 1 respectively caused increase in hydro-power sub-index. Decline in manufacturing and processing sub-index by 9.91 points during the week was due to the decline in share price of Unilever Nepal Ltd by Rs 200 per share closing at Rs 9800.<br /> <br /> As the closing of the fiscal year was coming nearer, investors are attracted to generate the shares of banks and financial institutions (BFIs) from which they expect dividends. On-going merger trend among the BFIs and the historical trend of high return during Mid-July (Mid-July Effect) from the Nepali stock market are also seen boosting the Nepali investors’ confidence during the week.<br /> <br /> Shares of 119 companies were traded at Nepse during the week through 5,412 transactions amounting to Rs 446,668,000. The share price of 68 companies increased while of 27 companies declined and 24 companies remained unchanged. The transaction amount of the week is 17.9 percent higher than that of earlier week. The total number of scrips traded was1,819,991 which is higher by 66,457 scrips than that of earlier week.<br /> <br /> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 641,020,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 395,011 scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (531).<br /> <br /> Similarly, a total of 920,000 right shares of Sewa Bikas Bank, and 2,250,000 ordinary shares of NLG Insurance, 40,000bonus shares of Seti Finance and 400,000 debentures of Bank of Kathmandu were listed during the week.<br /> <br /> <br /> <strong>Nepse on Sunday</strong><br /> <br /> Nepse Index closed at 511.07 points on Sunday (July 14). The index increased by 4.62 points from the Thursday (July 11) close. All the sectors sub-indices saw increment during the day. Hydro-power sub-index increased the highest by 23.85 points closing at 1065.28 points. Total of 225,296 shares were traded from 817 transactions during the day. Similarly, trading on stock symbol “NICA” has started after successful merger between NIC Bank Ltd and Bank of Asia Nepal Ltd forming NIC Asia Bank.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-25', '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 increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points.', 'sortorder' => '1285', 'image' => '1373893312.jpg', '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' => '1422', 'article_category_id' => '144', 'title' => 'Losing Currency', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">The sharp decline in the value of the Nepali rupee in recent days has led to a clamour for the government to do something. This time, Nepal’s current currency depreciation has been created not due to Nepal’s own reason but due to pegged exchange rate with Indian currency. So, it is high time that the government dares to decide to discontinue pegged exchange rate with Indian currency. </span></div> <div> </div> <div> Though the continuous fall of the value of rupee has raised serious concern in India itself and the Indian government may do something to control the value of Indian rupee, Nepal should not just wait India’s action. It should do something on its own, if it is following an independent monetary policy. Otherwise, it may do better by declaring the Indian repee as its legal tender. </div> <div> </div> <div> The government and business community have had very little discourse about the problem and possible way out to control rupee depreciation. </div> <div> </div> <div> Countries with their currency pegged with another country’s currency are normally known to have weak capital markets and financial regulating mechanisms. In such a scenario, the peg helps create stability in the economy. Citing these very reasons, policymakers, politicians and even business community in Nepal have always favoured to have the pegged exchange rate with Indian Currency. </div> <div> </div> <div> But the recent massive depreciation of Indian currency has thrown all these logics out of the window and the situation calls for a serious debate on whether Nepali rupee should maintain the peg system. </div> <div> </div> <div> Theoretically, devaluation of currency is beneficial for exports, but in Nepal’s case that theory cannot apply as the country is heavily dependent on imports to meet consumer demand as well as for industrial raw material. Nepal exported merchandise worth Rs 69.93 billion during eleven months of 2012-13 while it imported goods worth Rs 508.60 billion, according to Current Macroeconomic Situation of Nepal released by Nepal Rastra Bank (NRB). </div> <div> </div> <div> The data clearly shows that Nepal has huge trade deficit and depreciation of rupees will have much more adverse impact on Nepali economy than would be the case in a country with relatively better trade balance. </div> <div> </div> <div> The pegging regime has both advantages and disadvantages. It helps to keep the fragile economy stable. But one never knows the real economic scenario of the country under such fixed exchange system. The Mundell-Fleming model, best known for its anti-pegged exchange rate philosophy, says that fixed exchange rate system restricts the effectiveness of having an independent monetary policy to achieve macroeconomic stability. </div> <div> </div> <div> In light of the Indian currency crisis, Nepal is desperately looking for best option to keep Nepali rupee stable. It is difficult to find a good solution to it as long as the pegged exchange rate system is not done away.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The sharp decline in the value of the Nepali rupee in recent days has led to a clamour for the government to do something.', 'sortorder' => '1284', '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' => '1421', 'article_category_id' => '145', 'title' => 'The Right Green Industrial Policies', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Dani Rodrik</span></strong></div> <div> </div> <div> The future of our planet depends on the world economy’s rapid transition to “green growth” – modes of production based on clean technologies that significantly reduce emissions of carbon dioxide and other greenhouse gases. Yet carbon remains badly mispriced, owing to fossil-fuel subsidies and the absence of tax revenues needed to address the global externalities of climate change. </div> <div> </div> <div> In this context, subsidies that promote the development of green technologies – wind, solar, bio-energy, geothermal, hydrogen, and fuel-cell technologies, among others – are doubly important. First, they nudge pioneers to invest in uncertain, risky ventures, with the resulting research-and-development efforts generating highly valuable social benefits. Second, they counter the effects of carbon mispricing on the direction of technological change. </div> <div> </div> <div> These two considerations provide mutually reinforcing reasons for governments to nurture and support green technologies. Such support has, in fact, become extensive, both in advanced and emerging economies. Look around these economies and you will find a bewildering array of government initiatives designed to encourage renewable-energy use and stimulate green-technology investment. </div> <div> </div> <div> Although full pricing of carbon would be a far better way to address climate change, most governments apparently prefer to rely on subsidies and regulations that increase the profitability of investments in renewable energy. Often, the authorities’ motive seems to be to give domestic industries a leg up in global competition. </div> <div> </div> <div> Normally, we would consider these competitive motives to be beggar-thy-neighbor in nature. Market-share considerations are zero-sum from a global standpoint in traditional industries, and any resources invested in generating national gains come at the cost of global losses. </div> <div> </div> <div> But in the context of green growth, national efforts to boost domestic green industries can be globally desirable, even if the motives are parochial and commercial. When cross-border spillovers militate against taxing carbon and subsidizing technological development in clean industries, boosting green industries for competitive reasons is a good thing, not a bad thing. </div> <div> </div> <div> Opponents of industrial policy rely on two arguments. The first is that governments do not have the information needed to make the right choices about which firms or industries to support. The second is that once governments are in the business of supporting a particular industry, they become vulnerable to rent-seeking and political manipulation by well-connected firms and lobbyists. In the United States, the 2011 bankruptcy of Solyndra – a solar cell manufacturer that folded after having received more than a half-billion dollars in government loan guarantees –seems to illustrate both failures. </div> <div> </div> <div> In reality, the first of these arguments – lack of omniscience – is largely irrelevant, while the rent-seeking problem can be overcome with appropriate institutional design. Good industrial policy does not rely on governments’ omniscience and ability to pick winners; indeed, failures are an inevitable and necessary part of a well-designed program. </div> <div> </div> <div> While it is too early to reach a conclusive verdict on the US loan-guarantee program, it is clear that the Solyndra case cannot be properly evaluated without taking into account the many successes that the program has spawned. Tesla Motors, which received a $465 million loan guarantee in 2009, has seen its shares soar and has repaid its loan early. An evaluation of US Department of Energy efficiency programs found that the net benefits amounted to $30 billion – an excellent return for an investment of roughly $7 billion over 22 years (in 1999 dollars). Interestingly, much of the positive impact resulted from three relatively modest projects in the building sector. </div> <div> </div> <div> Intelligent industrial policy requires mechanisms that recognize errors and revise strategies accordingly. Clear objectives, measurable targets, close monitoring, proper evaluation, well-designed rules, and professionalism provide useful institutional safeguards. As challenging as applying them may be, they constitute a much less formidable requirement than that of picking winners. Moreover, an explicit industrial policy – conducted self-consciously and designed with pitfalls in mind – is more likely to overcome the typical informational and political barriers than one that is implemented surreptitiously, as is too often the case. </div> <div> </div> <div> Green industrial policy can be damaging when national strategies take the form not of subsidizing domestic industries but of taxing foreign green industries or restricting their market access. The case of solar panels provides a cautionary tale. Trade disputes between China, on the one hand, and the US and Europe, on the other, have attracted much attention. Fortunately, this is the exception rather than the rule for green industrial policy. Trade restrictions have so far played a small role relative to subsidies to domestic industries. </div> <div> </div> <div> In practice, we are unlikely to get purely green industrial policy, which would focus solely on the development and diffusion of green technologies while excluding considerations of competitiveness, commercial gain, and employment growth. Indirect but politically salient objectives such as “green jobs” will most likely continue to present a more attractive platform for promoting industrial policy than alternative energy or clean technologies. </div> <div> </div> <div> From a global standpoint, it would be far better if concerns about national competitiveness were to lead to a subsidy war, which expands the global supply of clean technologies, rather than a tariff war, which restricts it. So far, we have been getting the former, though there is no way to determine whether, or for how long, this trend will continue. </div> <div> </div> <div> <span style="font-size:11px;"><em>(Dani Rodrik, Professor of Social Science at the Institute for Advanced Study, is the author of The Globalization Paradox: Democracy and the Future of the World Economy.) </em></span></div> <div> </div> <div> <em>Copyright: Project Syndicate, 2013.</em></div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'Green industrial policy can be damaging when national strategies take the form not of subsidizing domestic industries but of taxing foreign green industries or restricting their market access. The case of solar panels provides a cautionary tale. Trade disputes between China, on the one hand, and the US and Europe, on the other, have attracted much attention.', 'sortorder' => '1283', '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' => '1420', 'article_category_id' => '142', 'title' => 'Poll Update (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Vice Chairman of the CPN (UML) Bamdev Gautam" src="/userfiles/images/gautsm.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 117px;" /></div> <div> <strong style="font-size: 12px;">Timely Election is Crucial: Gautam </strong></div> <div> </div> <div> Vice Chairman of the CPN (UML) Bamdev Gautam has said that the country would turn into a failed state if the Constituent Assembly (CA) poll is not held on the scheduled date of November 19. Stating that the CPN-Maoist´s demand for the dissolution of the Khil Raj Regmi-led government is futile, he said their demands are not acceptable to his party. Gautam also said that his party is ready for the CA polls. “Our party cadres have already reached many constituencies and it is likely that we will win with a majority.” </div> <div> </div> <div> </div> <div> </div> <div> <strong>November Elections Impossible: Pokharel </strong></div> <div> <img alt="Former Chief Election Commissioner Bhojraj Pokharel " src="/userfiles/images/pokhrel.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 108px;" /></div> <div> Former Chief Election Commissioner Bhojraj Pokharel has said that an election in November is impossible because of the government and some political parties. “Old characters do not want change in the rules,’’ Pokharel said speaking at a programme in the capital. Pokharel suggested that a round table talk would be the solution to the on going problems. That should be followed by formation of regulations, and party registration within 45 days. He also claimed that the political parties and the election commission have already agreed secretly to conduct elections in April next year.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'November Elections Impossible:', 'sortorder' => '1282', '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' => '1419', 'article_category_id' => '141', 'title' => 'News In Brief (15-21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>Political Parties Most Corrupt in Nepal: TI Survey </strong></div> <div> </div> <div> A study conducted by Transparency International (TI) has found that political parties are the most corrupt among institutions in Nepal. Seventy percent of the total respondents surveyed in 58 municipalities in Nepal answered that political parties are the most corrupt, followed by public service and bureaucracy (66 percent), the police (58 percent), the parliament (51 percent), the judiciary (51 percent) and the private sector (30 percent) which made it to the top five positions. Questions regarding the lodging of complaints against corruption received positive answers from 61 percent of the respondents whereas the remaining 43 percent said they are not aware of any institution where such complaints could be filed. Thirty-nine percent of the respondents said they were not optimistic that action would be taken even if complaints were lodged. Likewise, 40 percent of the respondents said that they bribed officials for getting land-related problems solved. Thirty-seven percent claimed to have paid bribes for judicial services, whereas 30 percent revealed to have done the same with the police. </div> <div> </div> <div> <strong>Nepal to Send 260 Peacekeepers to Syria </strong></div> <div> </div> <div> The Cabinet on Thursday decided to send 260 Nepal Army personnel in war-ravaged Syria. The Nepali peacekeepers will work under the UN Supervision Mission in Syria (UNSMIS) which was set up in 2012. According to the Minister for Information and Communications, Madhav Prasad Paudel, the government has decided to dispatch 260 peacekeepers to Syria in two phases. The fist contingent of 130 NA personnel will reach Syria by the end of July, while the remaining will head for the country in September, Paudel said. Nepal has been contributing troops to UN peacekeeping operations since 1958. </div> <div> </div> <div> <strong>China didn’t Ask Us to Take Part in Election: Gajurel </strong></div> <div> </div> <div> CPN-Maoist Vice Chairman CP Gajurel, speaking at a programme organised in the Capital on Friday, said that his recent visit to China was not entirely focused on the issue of CA elections in Nepal. The Chinese authorities did not say anything about the election in Nepal for it was an internal issue. China, however, wants to see lasting peace and the end of the transitional phase, according to Gajurel. “The rumour that our party is close to China and distant from India is not true,” he added. Gajurel and his party Chairman Mohan Baidya had gone to China earlier this week upon invitation of the Community Party of China (CPC). </div> <div> </div> <div> <strong>Khursid’s Day-long Kathmandu Visit </strong></div> <div> </div> <div> Indian Minister for External Affairs Salman Khurshid visited Kathmandu on July 9 and returned to New Delhi on same evening. Khurshid met top leaders of UCPN (Maoist), Nepali Congress, CPN-UML and other Madhes-based parties in Kathmandu. He also met Chairman of the Interim Council of Ministers Khil Raj Regmi. A Memorandum of Understanding (MoU) was signed during the meeting to provide 764 vehicles for the upcoming Constituent Assembly (CA) election. Finance Secretary Shantaraj Subedi and Indian envoy Jayanta Prasad signed the MoU. </div> <div> </div> <div> <strong>Election Office Enlists Voters Even on Saturday </strong></div> <div> </div> <div> The Election Commission continued the task of enlisting voters even on Saturdays in all 75 districts due to high pressure of turnout. The commission has stipulated July 15 as the last day for enlisting names in voters´ lists across the country. Due to increasing numbers of prospective voters, the task will be performed even on Saturdays, said Bir Bahadur Rai, spokesperson of the commission.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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' => 'A study conducted by Transparency International (TI) has found that political parties are the most corrupt among institutions in Nepal.', 'sortorder' => '1281', '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' => '1418', 'article_category_id' => '152', 'title' => 'Focus Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Aaron Helmets & Accessories</strong><br /> <br /> Incorporated in the year 2007, Mutual Crafts Pvt Ltd is one of the leading names engaged in the manufacture and supply of high quality and wide range of motorcycle helmets. The company, that manufactures Aaron Helmets, provides both open face and full face helmets to its valued clients. Mutual Crafts has been able to carve a niche in the domestic as well as overseas markets through its dedicated services and quality products. Its wide range of products is widely appreciated for its strength, protective features and reliability. This selection of products is efficient in meeting safety and racing standards and also characterized with stylish designs. Further, the company also provides customization as per the requirements and specifications of its esteemed clients. Its highly qualified and dedicated team of professionals is able to provide utmost satisfaction with on-time delivery of the products. It ensures to deliver the products after comprehensive research and stringent tests to assert international standards of quality and safety. Mutual Crafts maintains an up-to-date infrastructure as a necessity towards maintaining quality product attributes. An ISI & ISO 9001:2008 Certified Company, Mutual Crafts is a Delhi, India based leading manufacturer, supplier and exporter of motorcycle helmets and offers a wide array of full face and open face helmets.<br /> <br /> <br /> <img alt="bm" src="/userfiles/images/BM.jpg" style="width: 230px; height: 209px; margin: 10px;" /><br /> <strong>BM Motorcycle Helmets</strong><br /> <br /> AMR Industry Company Limited was established in February 2003. This Thailand based company’s commitment is to satisfy customers’ needs by manufacturing superfine quality motorcycle helmets under the brand ‘BM’ which is qualified by Thai Industrial Standard Institute (TISI 369-2539). Since its start, the company has continuously indulged in improvement and innovation of its products to answer customers’ satisfaction.<br /> <br /> <br /> <img alt="" src="/userfiles/images/apex.jpg" style="width: 238px; height: 206px; margin: 10px;" /><br /> <br /> <strong>AVEX Safety Helmets</strong><br /> <br /> P Narong and PNI Company Limited has over 20 years of experience on knowledge and ability to produce AVEX Safety Helmet and the various types of plastic injection. Additionally, all manufacturing processes are considerately performed by the modern machines not only under the qualitative control of professional working team but also the quality system of ISO 9001 Version 2000. Apart from the standard, AVEX Safety Helmet is welcomed and admired from the users because of its beautiful shape in accordance with the aerodynamic principle. AVEX Safety Helmet is welcomed and trusted by the customers and the product has been continuously exported or distributed for more than two decades. The company, originated in Thailand, aims to provide qualitative product trusting the executive management under the system of ISO 9001:2000 in order to fulfill the confidence and the satisfactory of the customers in accordance with the quality policy and provide qualitative product meeting the customers’ requirements.<br /> <br /> <img alt="yohe" src="/userfiles/images/yohe.jpg" style="width: 205px; height: 204px; margin: 10px;" /><br /> <br /> <strong>YOHE Helmets</strong><br /> <br /> YOHE is one of the largest motorcycle helmets designing and manufacturing company. Foshan Nanhai YOHE manufacturing Co, Ltd was founded in June 1992 and located in Guangdong province, China. The more than 1000 workers of YOHE produce over 3.9 million pieces of helmets per year. YOHE gained ISO 9001:2000 certificate in 1993, and has a high reputation among all the Bureau of Quality and Technical Supervisions. YOHE’s customers are spread worldwide with Europe and America, Australia and Asia being the major markets.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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' => 'Incorporated in the year 2007, Mutual Crafts Pvt Ltd is one of the leading names engaged in the manufacture and supply of high quality and wide range of motorcycle helmets. The company, that manufactures Aaron Helmets, provides both open face and full face helmets to its valued clients. Mutual Crafts has been able to carve a niche in the domestic as well as overseas markets through its dedicated services and quality products. Its wide range of products is widely appreciated for its strength, protective features and reliability. This selection of products is efficient in meeting safety and racing standards and also characterized with stylish designs.', 'sortorder' => '1280', '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' => '1417', 'article_category_id' => '140', 'title' => 'Nepal Ain’t Egypt Yet', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Upashana Neupane</span></strong></div> <div> </div> <div> Former Prime Minister Dr Baburam Bhattarai tweeted recently: “Military coup to oust a democratically elected government in Egypt is a bad omen for all transitional democracies. Let’s all be cautious.” </div> <div> </div> <div> Nepal however is way different than Egypt, in this context. We must view this positively that despite the prolonged political transition, Nepal did not go by Egypt’s footsteps. There were numbers of government failures time and again in Nepal which gave ample opportunity for a coup. But this did not happen. This might be because the Nepali Army, unlike Egyptian counterpart, has not tasted the power. However, there are other reasons as well which prove that Nepal’s democratic fundamentals are still strong enough to avoid the happening like that in Egypt. </div> <div> </div> <div> For starters, Nepalis have been practicing democracy for long. Even before the restoration of multi-party parliamentary democracy after the people’s movement of 1990, there were comparatively better democratic practices in Nepal than in Egypt. </div> <div> </div> <div> Thus, Nepal’s democracy is matured and internalized. Nepal’s political transitions have not ben so tumultuous as Egypt. Even the abolition of monarchy was peaceful. </div> <div> </div> <div> On the other hand, Egypt’s democracy was still an embryo when Muhammad Morsi was deposed in a military coup early this month. </div> <div> </div> <div> Egyptians had no time to internalize the democracy. They removed Mubarak and elected new government with Morsi as president and made a constitution in a hasty manner. And they did away with existing institutions as fast and hastily as they were made. </div> <div> </div> <div> But in case of Nepal, politicial leaders are still engaged with each other discussing over the disputes and misunderstandings. Such a debate (though frustrating at times) is a good sign, reducing the risk factors for possible future confrontation. </div> <div> </div> <div> Another reason for Egypt’s current revolution is religious factionalism. Mohammed Morsi went Islamic fundamentalist way which was not convincing to the 21st century secular forces. Though indications of ethnic factionalism were visible in Nepal too, we have to thank our political leaders that they did not allow it to flare up. </div> <div> </div> <div> However, one cannot completely rule out the possibility of repeating the Egypt’s history in Nepal. The protracted political transition in the country and failure to meet the people’s expectations can lead to national frustration, creating enough space for military coup. </div> <div> </div> <div> The risk factors thus cannot and should not be neglected. To avoid these risks, there is no any other alternative than Constituent Assembly (CA) elections. </div> <div> </div> <div> Delaying the elections again will surely damage whatever hope the people have. But CA elections will not be enough. There should be elections to the Local Government Bodies as well. There are no elected representatives of the people in the local bodies for the last 14 years. Prolonging this vacuum can be very dangerous.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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’s democratic fundamentals are still strong enough to avoid the happening like that in Egypt.', 'sortorder' => '1279', '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' => '1416', 'article_category_id' => '153', 'title' => 'Safety Helmets For Two-wheelers', 'sub_title' => '', 'summary' => null, 'content' => '<p> A salesgirl taking out a helmet for a customer at Tripureshwor based Vicky Auto Parts. The company’s Managing Director Sajjan Jajodia informed that his store sells helmets in the price range of Rs 700 to Rs 6,000.<br /> <br /> <strong>Photo: Rukesh Shrestha/TC</strong><br /> <br /> <br /> <br /> <br /> <br /> The safety helmets available in Nepal are mostly imported from India, China, Thailand and Malaysia in addition to a few European brands. Some Nepal made helmets too have also gained popularity in the market in recent times.<br /> <br /> <strong>By Pinaki Roy</strong><br /> <br /> <br /> <br /> <br /> <br /> In the current financial year 2069-2070 BS, an estimated 180,000 two-wheelers have been sold in the Nepali market, industry analysts said. This sales figure is attributed to people’s growing desire to enhance mobility and save time in addition to the fact that two-wheelers also help its riders in negotiating narrow alleys.<br /> <br /> <strong>Safety Rider</strong><br /> <br /> Every two-wheeler that gets sold in the market also opens the possibility of sales of safety helmets. “Looking from a safety perspective, it is recommended that riders use full helmets,” a trader said. However, in the Nepali market, the consumption of helmets that cost cheaper is more than the helmets that provides complete protection of the head. “Only about 10 per cent of helmet buyers look for such safe helmets,” he added. These helmets are manufactured keeping in mind regulated standards and thus cost more. The decline in demand for quality helmets has forced traders to import cheaper and stylish products to cater to the market. Even though safety is the primary reason for wearing helmets, traders said that most riders do not change their helmets till the time they get completely damaged.<br /> <br /> Bharat Tibrewala, Director of MRD Auto, said, “There is a lack of awareness as most people wear helmets only for the fear of traffic police and not for safety.” He added that helmets provide safety to both the rider and the pillion rider and people must look to buy quality helmets. MRD Auto has around 40-50 vendors across Nepal who sell its helmets that cost between Rs 1,000 and Rs 2,500. Sajjan Jajodia, the Managing Director of Vicky Auto Parts and Vaani Auto Trade, said, “We currently sell around 30 pieces of helmets daily.” He informed that his company sells Index, Aaron, Vstar and STM brands of helmets among others.<br /> <br /> <br /> <strong>Imported Lot</strong><br /> <br /> Most helmet brands that sell in Nepal are imported from countries like India, China, Thailand and Malaysia. There are a few quality brands too available in the market that are manufactured in European countries. Some Nepal made helmets, which are manufactured in the country after importing raw materials from India, have also gained popularity in the market in recent times. Traders claim that the helmets manufactured in Nepal cost comparatively lesser than their imported counterparts. STM, Index, MRC, Avex, AMG, Aaron, BM and Snell are some of the more popular brands in the Nepali market while a few European brands such as Held and RPM are also available in the stores.<br /> <br /> <br /> <strong>Price Range</strong><br /> <br /> Depending on quality and design, helmets available in the Nepali market cost anything from Rs 500 to Rs 12,000. While the helmets manufactured in Nepal cost in the price range of Rs 500 to Rs 1,500, the ones imported from India, China, Thailand and Malaysia cost between Rs 1,500 and Rs 3,500 on an average. Kathmandu Valley alone has over 350 helmet shops and there is a total investment of around Rs 1 billion in the trade. While even a small store attracts a minimum investment of Rs 500,000, traders said there are stores in the Valley that have opened with investments of Rs 4 million or more.</p> <p> <br /> <br /> <strong>Variety Galore</strong><br /> <br /> People use helmets according to their age, gender, profession and income, observed traders. Women mostly wear half-helmets and cap-helmets while young men usually fancy wearing full helmets. Similarly, male riders pursuing professional careers are more inclined towards half helmets. Two-wheeler riders, who are comparatively well-off, change helmets according to the season – wearing full helmets during the winter while using half-helmets or cap-helmets in the summer. The two-wheeler model also determines the choice of helmet with people riding scooters wearing half-helmets or cap-helmets while those riding sporty motorbikes wearing full helmets.<br /> Business Challenge<br /> <br /> Traders dealing with helmets said their sales have dropped to 50 per cent over the last few years despite that fact that the sales of two-wheelers have continued to grow. It is because a number of motorcycle distributors provide helmet free with two-wheelers these days. Traffic Police in the capital had made helmets compulsory for pillion riders, along with the motorbike rider, in 2008. Due to the rule, helmet sales was at its peak around that time, however, the sales of helmets was hit hard ever since the rule was scrapped almost three years ago. The helmet sales was further hit after the dealers of two-wheelers started doling out free helmets with every purchase.<br /> A trader mentioned that since some of the companies provide helmets free of cost, the customers buy fresh helmets only after the older one becomes useless. Traders further said that a drop in sales of reconditioned bikes has also affected helmet sales. “It is become increasingly difficult to survive by selling helmets alone.”<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', '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 safety helmets available in Nepal are mostly imported from India, China, Thailand and Malaysia in addition to a few European brands. Some Nepal made helmets too have also gained popularity in the market in recent times.', 'sortorder' => '1278', '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' => '1415', 'article_category_id' => '140', 'title' => '‘The Government Should Take Initiative To Narrow Down Differences’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Surendra Pandey ,leader of Communist Party of Nepal, United Marxist-Leninist (CPN-UML)" src="/userfiles/images/surendra.jpg" style="float: right; margin: 0px 10px 0px 0px; width: 225px; height: 265px;" /></div> <div> <span style="font-size:14px;">Surendra Pandey a leader of Communist Party of Nepal, United Marxist-Leninist (CPN-UML) is a former Minister of Finance. He spoke with Siromani Dhungana and Pritica Sharma of the The Corporate about contemporary political scenario in the country. <strong>Excerpt: </strong></span></div> <div> </div> <div> <strong>Is it possible to hold elections in the stipulated time? </strong></div> <div> </div> <div> Election should be possible but the primary concern is whether the government is determined to hold election or not. Baidya-led Maoist and some other political forces including Federal Socialist Party and People’s Right Forum have been saying that they will not take part in the election but they have not said that they will obstruct election either. The government should take initiative to narrow down the differences. The government should continue these two things together. On the one hand, it should work to create conducive environment for the election. On the other, it should continue dialogue with dissident parties. This approach will help reduce differences and foster favourable environment for the CA election. </div> <div> </div> <div> <strong>Can the bureaucrats-led government directly talk with political forces? </strong></div> <div> </div> <div> This government has both advantages and disadvantages. There is a genuine question whether this government can present its strong determinism to solve political differences. Similarly, single agenda of the government is to hold election. This government has more flexibility in terms of political ideology and stand. Political parties could not reach a compromise due to their own political ideologies and interests but this government is free from that. </div> <div> </div> <div> <strong>But it is often blamed that this government is not accountable to the people due to its apolitical nature. The government is keen to involve itself in employees transfer and other controversial decisions. In this regard, how can this government be free of vested interests? </strong></div> <div> </div> <div> I have also heard some complaints about this. Accordingly, some ministers have been saying that this government will continue for long time. The mandate of the government to hold election will expire on mid-December though Nepali Congress leader Krishna Sitaula has recently said that this government will continue for four years if the election is not held on time. Who is Krishna Sitaula to claim this? He expressed this as if he is a person who can form and dissolve the government. I don’t think Krishna Sitaula alone can form or dissolve the government. In my opinion, the tenure of the government cannot extend beyond mid-December and the government should be aware of this fact. </div> <div> </div> <div> <strong>Is there rapid polarization between political philosophies in Nepal or it is merely conflict of vested interest? </strong></div> <div> </div> <div> Both are there along with provocation of various interest groups. There are some political concerns, some vested interests and some provocations. Together these three things have fuelled the current political crisis. Therefore, political problems such as federalism and other constitution related issues should be sorted out at political level. Similarly, election is very essential to measure political parties’ strength. No political party should fear from the election. Political parties should refrain from shortsightedness, selfishness and provocation from unwarranted groups rather they should be focused on their own agendas for the betterment of overall political scenario of the country. A statesman should take decision based on his own conscience. </div> <div> </div> <div> <strong>Can this government conduct free and fair CA election? </strong></div> <div> </div> <div> There are a number of questions and doubts whether this government can hold free and fair election. During the short tenure, this government has failed to regulate the market and have done several activities which were not mandated to this government. However, political parties should create pressure to this government to hold the election on time. </div> <div> </div> <div> <strong>What’s your opinion about budget from this government? </strong></div> <div> </div> <div> Budget should not be delayed. It should be brought on time as per doctrine of necessity though there is not any accountability mechanism. We have a government and it should be allowed to bring budget. The question is: whether the government can change the policy or not? In my opinion, this government should not change major policies. The primary mandate of this government is to hold the election and the government is bringing the budget after the date for election has been declared. In this context, the government should realize its limitations. First, it should not introduce any new programme. Similarly, this government should not formulate a new policy due to lack of political mandate from the people. Similarly, this government should be aware of lack of accountability mechanism in absence of parliament. The government is introducing the budget through ordinance so it should not exaggerate the budget issue.</div> <div> </div>', 'published' => true, 'created' => '2013-07-15', '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' => 'Election should be possible but the primary concern is whether the government is determined to hold election or not.', 'sortorder' => '1277', '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' => '1414', 'article_category_id' => '100', 'title' => 'Tourism Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>More Tourists in Namje</strong><br /> <br /> The number of tourists visiting Namje Bazaar, Bhedetar has increased after the commencement of home stay in the area. Namje Bazaar is listed in 12th number in CNN’s world destinations. With the increment in the number of tourist in Namje, 10 more houses have recently started providing home stay services. Tourists are more attracted towards home stay as it is comparatively affordable than hotels and lodges, and they offer family as well. The tourists choosing home stay are provided with local food products like maize, oats, millet, organic vegetables etc. According to a local home stay owner, tourists are charged Rs 400 to Rs 500 for a night. Nine locations in Namje are recently declared as tourist destination, including Magar Museum, drinking water project and organic agro-production area among others.<br /> <br /> <br /> <strong>Etihad’s Second Quarter and First Half Results</strong><br /> <br /> Etihad Airways has announced its second quarter and half-year financial performances. According to a press statement, the results reflect continued growth in the airline alliance strategy and global cargo operations. The airline achieved an eight per cent increase in second quarter of 2013 in passenger revenues, generating 921 million USD which was 855 million USD in 2012. The passenger revenues for the first half of 2013 reached 1.8 billion USD as compared to 1.6 billion USD in 2012, which is an increase of 13 per cent. Revenue generated by codeshare and equity alliance airline partners was 184 million USD second quarter of 2013. This is 25 per cent more than the turnover in the same period of 2012. Partnership revenue comprised 20 per cent of the airline’s total passenger revenue in both second quarter and the first half of 2013. (Traveldailynews.com)<br /> <br /> <br /> <strong>European Commission Updates EU Air Safety List</strong><br /> <br /> The European Commission has updated for the 21st time the European list of airlines subject to an operating ban or operational restrictions within the European Union, known as ’The EU air safety list’. Following improvements in the safety situation in the Philippines, Philippine Airlines is the first airline from this country allowed back into European skies since 2010. The same is true for the Venezuelan airline Conviasa, which was banned in 2012. Progress was also noted in Libya but the Libyan authorities agreed that Libyan airlines would not be allowed to operate in Europe until they are fully recertified to the satisfaction of the European Union. Taking into account the improved safety oversight provided by the authorities of the Philippines, and the ability of the air carrier Philippine Airlines to ensure effective compliance with relevant aviation safety regulations, it was decided to lift the ban affecting this carrier registered in the Philippines.<br /> <br /> <br /> <strong>HotelMapper.com Reveals Top Ten Travel Destinations of 2013</strong><br /> <br /> HotelMapper.com, a leading hotel reservation website has announced the results of hotel reservation trends for the first part of 2013. Beach destinations proved most popular, followed by New York and Los Angeles, with European travel and theme park destinations showing a decrease over the last 12 months.<br /> <br /> <strong>Top International Cities for Travel 2013</strong><br /> <br /> 1. Paris, France<br /> 2. Madrid, Spain<br /> 3. Rio De Janeiro, Brazil<br /> 4. Cancun, Mexico<br /> 5. Rome, Italy<br /> 6. Cairns, Australia (Queensland)<br /> 7. London, United Kingdom<br /> 8. Venice, Italy<br /> 9. Seoul, Korea<br /> 10. New Delhi, India<br /> <strong>(Traveldailynews.com)</strong><br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-15', '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 number of tourists visiting Namje Bazaar, Bhedetar has increased after the commencement of home stay in the area. Namje Bazaar is listed in 12th number in CNN’s world destinations. With the increment in the number of tourist in Namje, 10 more houses have recently started providing home stay services. Tourists are more attracted towards home stay as it is comparatively affordable than hotels and lodges,', 'sortorder' => '1276', '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
