…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
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' => '1413', 'article_category_id' => '183', 'title' => 'Gateway To Shangri-La', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Gaurav Aryal</strong><br /> <br /> Nepal conceals abundant travel and adventure prospects amid the blue mountains and snowy white peaks. The Annapurna Dhaulagiri Community Trail Trek is one of the newer trekking routes that take travellers to the Himalayan Shangri-La. It is a part of the Great Himalaya Trail. A seven to 10 days long trek to the southern flank of the Annapurna and Dhaulagiri region offers the taste of Nepal that is away from Nepali image, tourists are usually known to.<br /> <br /> The trail passing through the Magar communities definitely offers the panoramic views of the majestic mountains and pristine wilderness. In addition, it is also a route to experience the exotic culture and livelihoods of Magar people in the surrounding villages. Community lodges and home stay have not only offered tourists to get a peaceful rest but is also an opportunity to understand the local culture and life style. Trekking in this route is a destination for responsible tourism where the benefits directly go to the local people.<br /> <br /> Tourism facilities have become an attractive source of income for local people. Nangi village, also known for the wireless project initiated by Ramon Magsaysay Award winner Mahabir Pun, is making a turnover of around Rs 1.4 million annually since the opening of trail. Community lodges are available at Banskharka, Nangi, Mohare, Dandakharka, Swanta and Khopra. Similarly, home stay is available at Tikot, Paudwar and Narchyang. Most of the stops in this route offer Wi-Fi Internet and telephone services.<br /> The community and ecotourism trekking route is classified as moderately difficult one. Trekking begins from Galeshwor of Myagdi and stops at Tatopani at the bank of Kaligandaki River or those looking for more thrill can also chose to go to Khair Lake and Annapurna Base Camp.<br /> <br /> Mohare (3320m) and Khopra (3660m), two highest points in the trail promise a panoramic view of the Annapurna and Dhaulagiri mountain range and are ideal for watching sunrise and sunset. The trail passing through the rhododendron forests would entice visitors during the spring season when these flowers bloom with full glory. Similarly, Annapurna and Dhaulagiri’s jaw dropping views never leave the traveller alone.The peak season for trekking in this route is from autumn to early winter and from early spring to summer. Although the spring condition may be mild in the lower hills but the highest points Mohare and Khopra may still be icy cold.<br /> <br /> The trail was opened up with a purpose to enhance the local community’s life style with the support of UNDP Micro Enterprise Development Programme (UNDP-MEDEP), Nepal Tourism Board (NTB) and Trekking Agencies’ Association of Nepal (TAAN).<br /> <br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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 conceals abundant travel and adventure prospects amid the blue mountains and snowy white peaks. The Annapurna Dhaulagiri Community Trail Trek is one of the newer trekking routes that take travellers to the Himalayan Shangri-La. It is a part of the Great Himalaya Trail. A seven to 10 days long trek to the southern flank of the Annapurna and Dhaulagiri region offers the taste of Nepal that is away from Nepali image, tourists are usually known to.', 'sortorder' => '1275', 'image' => '1373889087.jpg', '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' => '1412', 'article_category_id' => '157', 'title' => 'Cafe Horizon’s Wide Horizons', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Sujan Tiwari</strong><br /> <br /> <br /> I f you are tired of dining within the confinement of restaurant walls and want to breathe in fresh air as you eat, Café Horizon at Hotel Himalaya could be the perfect choice for you. Café Horizon serves as the main dining of the Hotel, and is popular among the in-house guests as well as guests from outside.The café begins from the lobby of the Hotel, and expands to the outside garden and continues up to the pool. There are numerous seating options to suit every mood. Whether you want a quick lunch, a lavish dinner or a peaceful time with your loved one, Café Horizon can cater to it all. The best place to seat, however, is the outside garden. One can relax in the lush garden and enjoy the view here.<br /> <br /> On a clear day, the garden offers the magnificent view of the Himalaya. It is probably one of the best views from any restaurant in Kathmandu. “As the Café is seen as soon as you enter the hotel, we consider it to be the focal point of our Hotel,” says Rabindra Tandukar, Executive Manager at Hotel Himalaya. The Café opens at 6 in the morning, and serves breakfast, dinner and everything in between before closing at 10 pm.<br /> <br /> The Café is a multi-cuisine one and Continental and Oriental dishes are the specialty here. Kamal S Rana, the Executive Chef of the Hotel has an experience of almost four decades, and specializes in Continental and Indian cuisine. The Cafe boasts of numerous Continental and oriental starters and mains. Insalata Caesar is one of the popular starters here, classic Caesar salad with croutons, and option of cheese, chicken or prawn, with traditional flavoured garlic essence.<br /> <br /> Another option could be grilled baby prawn salad. For the salad, prawn is marinated in garlic and lemon juice, pan grilled and is served with leafy veggies and garlic croutons. Herb Fried Prawn is what Chef Rana recommends. For the dish, prawns marinated in Himalayan spices is fried and served with onion rings and a ranch dip. Soup lovers can enjoy tom yum, minestrone and French onion soup among other varieties.<br /> <br /> The menu offers a lot of options for main courses as well. One of the best selling Continental main courses is Grilled Salmon Steak. It comes with pan baked Norwegian Salmon served with baked potatoes, veggies and risotto topped with lemon and herb sauce. Another Continental main is Mixed Grill on Sizzler that comes with tenderloin, hot dogs, chicken and potato with green pepper corn sauce. Ayam Masak Merah is an Oriental main. For the dish, veg noodles or fried rice is served with a spicy tomato based chicken curry cooked in Malaysian style. Hyderabadi biryani, Madras fish curry and tandoori murg are some of the Indian mains served at the Cafe.<br /> <br /> For quick lunch, the Cafe has assorted burgers and sandwiches. French Connection, a tenderloin sandwich in baguette is one of the popular sandwiches here. Those sticking with Nepali food can savour Nepali meal named Himalayan Thali. It is traditional Nepali meal served with choice of meat or veg, and is accompanied by dessert. Tiramisu, apple pie and fresh fruit platter are some of the served desserts.<br /> <br /> Going into beverages, the Cafe serves everything, from signature and classic cocktails to aperitifs, champagne, cognac and chilled beers. Himalayan refresher, a drink with gin, vodka, rum, soda, sugar syrup and lemon juice is one of the signature cocktails of the Cafe.<br /> <br /> The menu of the Cafe is changed every one and a half years, and the popular ones are continued and new dishes are added. “We continuously strive to offer our guests the best dining experience. We consider their feedback as well when we change the menu,” says Tandukar. A classy and peaceful ambience along with assorted multi-cuisine delicacies what Cafe Horizon is all about. Make it your next dining destination and you won’t leave unsatisfied.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'I f you are tired of dining within the confinement of restaurant walls and want to breathe in fresh air as you eat, Café Horizon at Hotel Himalaya could be the perfect choice for you. Café Horizon serves as the main dining of the Hotel, and is popular among the in-house guests as well as guests from outside.The café begins from the lobby of the Hotel, and expands to the outside garden and continues up to the pool. There are numerous seating options to suit every mood. Whether you want a quick lunch, a lavish dinner or a peaceful time with your loved one, Café Horizon can cater to it all. The best place to seat, however, is the outside garden. One can relax in the lush garden and enjoy the view here.', 'sortorder' => '1274', 'image' => '1373888635.jpg', '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' => '1411', 'article_category_id' => '161', 'title' => '‘Local Currency Funds Are Important For Private Sector Development’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Karin Finkelston,International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific." src="/userfiles/images/4a.jpg" style="float: right; margin: 0px 10px 0px 0px; width: 225px; height: 265px;" /></div> <div> <span style="font-size:14px;">Karin Finkelston is International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific. Her responsibilities include overseeing IFC’s investment and advisory programmes as well as maintaining relationships with key government and private sector partners in the region. Recently, she visited Nepal and spoke to Siromani Dhungana of The Corporate. <strong>Excerpt: </strong></span></div> <div> </div> <div> <strong>What is IFC’s overall strategy in South Asia? </strong></div> <div> </div> <div> South Asia is where the world’s poorest live in large numbers. Our mission is to create opportunity where needs are greatest and most relevant in this region. With many countries in the region facing development challenges and severe climate change impact amid political transition, this is a defining moment to make meaningful intervention. </div> <div> </div> <div> To meet these challenges, IFC’s strategy for South Asia is three-pronged: </div> <ul> <li> Achieving inclusive growth, including support for frontier regions through increased access to infrastructure; </li> <li> Addressing climate change impact through adaptation and mitigation measures; and </li> <li> Promoting regional and global integration including South- South investments and trade finance. </li> </ul> <div> </div> <div> <strong>As Asia Vice President for IFC, how do you think IFC can help countries like Nepal in their development agenda?</strong></div> <div> </div> <div> In my role as VP for Asia, I see the similarities and differences in context and also the potentials – picking up lessons and learning from other countries is invaluable. Nepal, for example, needs to meet the most important aspects of providing electricity to its people and industry and jobs to its youth. Nepal’s immense hydropower potential positions it well to respond to these needs. </div> <div> </div> <div> <strong>The needs in infrastructure, especially in energy can be met by harnessing the country’s hydro potential. What are IFC’s plans in this regard? </strong></div> <div> </div> <div> Nepal’s hydropower potential of about 84,000 MW is enough to meet about 3 percent of the global demand for power if the potential is fully realized. So far only about 686 MW is developed whereas the total installed capacity is 740 MW. The International Bank for Reconstruction and Development (IBRD), IFC and the Multilateral Investment Guarantee Agency (MIGA) are planning to collaborate on developing Nepal’s hydropower potential. IFC has supported hydropower projects in Nepal in the past as well. Two years back, we invested in a run-of-river hydropower project with Butwal Power Company. IFC’s financing is helping to renovate and upgrade the power plant, including the replacement of 100- year old turbines with modern and efficient technology. The plant’s output is expected to increase by 50 percent. </div> <div> </div> <div> <strong>How have you supported the private sector in other areas and businesses? </strong></div> <div> </div> <div> IFC’s strategic agenda in Nepal includes priority sectors of infrastructure, finance, including access to finance for SMEs and women entrepreneurs, tourism and agribusiness. With the corporation’s growing investments and advisory assistance, IFC is set to play a key role in Nepal. IFC is also working on a payment reform project and an advisory team is making important progress by building partnerships between the government and private sector through the Nepal Business Forum. We are now working with the private sector to promote improved agricultural and water management practices and introducing new technologies among small farmers producing rice, maize and sugarcane to adapt to climate change. </div> <div> </div> <div> <strong>IFC has been planning to issue local currency bond in Nepal. Could you please highlight the logic behind this?</strong></div> <div> </div> <div> A strong capital market helps the private sector to efficiently finance their operations, depending on the risk of the capital, instead of worrying about foreign exchange facilities. IFC supports local capital markets by issuing local currency bonds, often paving the way for other issuers. We also provide local currency finance to meet the needs of the private sector in many countries. Our projects require local currency financing as well. </div> <div> </div> <div> <strong>What do you have to say to the Nepali private sector that is focusing more on the problems of getting foreign capital than on local currency funds? </strong></div> <div> </div> <div> Developing local currency funds is an important element of private sector development. They help create access to long-term financing for large infrastructure projects and for small and medium enterprises- -the key drivers of jobs and growth. However, availability of strong local currency funds requires a conducive regulatory framework, a market and infrastructure. </div> <div> </div> <div> <strong>There is a big chunk of work IFC is leading on the advisory side--around reform. How do you think this work can help the private sector in Nepal? </strong></div> <div> </div> <div> IFC, through the South Asia Enterprise Development Facility, has been supporting the Nepal government’s efforts to focus on growing the country’s economy through improving the business environment, supporting sustainable business growth, and creating jobs. Our reform programmes in Nepal are aimed at making it easier to do business by reducing barriers to new business registration and streamlining the administration of taxes. We also help facilitate public-private dialogue to ensure that business reforms made by the government match private sector needs besides promoting private investments in Nepal.</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' => 'Karin Finkelston is International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific.', 'sortorder' => '1273', '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' => '1410', 'article_category_id' => '159', 'title' => 'Exercise Relieves Tension', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Om Prakash Sharma<br /> Director, Mahabir Automobiles</strong><br /> <br /> <br /> <br /> <br /> <strong>By Shruti Sonthalia</strong><br /> <br /> “After eight hours long work an entrepreneur should exercise”, believes the Director of Mahabir Automobiles, Om Prakash Sharma. This is how he spends his spare time. He goes to the Radisson Health Club to carry out his fitness activity. Sharma says exercising helps to reduce the mental fatigue and makes him fresh for the next day. The health club is a place to relax and unwind the day’s pressure.<br /> <br /> Sharma makes use of the fitness equipments in the club to work out. He also adds that the physical exercise makes one focused and far-sighted. Very rightly the entrepreneur chooses to exercise as his leisure time activity, because it increases the efficiency of a person. Not only that it also helps to inculcate various moral values in oneself like, patience, willpower and others necessary to be a successful management personnel. He adds, “It energizes and makes the work joyful, an ideal way to stay fit.”<br /> <br /> Being an physical exercise enthusiast Sharma loves sports. He plays cricket sometimes, which he wants to do regularly, but his busy schedule does not allow him. Apart from fitness activities he also spends some time with his family. He loves travelling and often goes for long-drive in his “own SUV”, as he points out.<br /> <br /> Sharma likes facing challenges, to which he cites an incident moment. Few months back he visited Pokhara and wanted to go for paragliding. He opted for that for the thrill. Initially, he was a little scared but finally answered the call of his heart by completing the exciting venture. This quality of determination helps him in his workplace in terms of decision making. “This combination of enthusiasm, sportsmanship and risk-taking makes me what I am,” he adds.<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' => '“After eight hours long work an entrepreneur should exercise”, believes the Director of Mahabir Automobiles, Om Prakash Sharma. This is how he spends his spare time. He goes to the Radisson Health Club to carry out his fitness activity. Sharma says exercising helps to reduce the mental fatigue and makes him fresh for the next day. The health club is a place to relax and unwind the day’s pressure.', 'sortorder' => '1272', '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' => '1409', 'article_category_id' => '158', 'title' => 'Ford EcoSport: A True Sport', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> <br /> <br /> GO Ford launched Ecosport last week, a new SUV in the market that it claims to have compelling value-for-money proposition. According to the company, Ecosport will be a game changer in the SUV segment, and will also take on other segments like sedan and premium hatchbacks.<br /> <br /> Ecosport’s design is quite extraordinary and compels you to take a second look. The most amazing part of its design may be the aggressive looking front grille and the stylish headlights. The overall build of the SUV looks quite sporty and aerodynamic. Styling definitely is one of the plus points of Ecosport.<br /> <br /> On the inside, there are some amazing features too. Ecosport’s compact sub-four metre dimensions and the electric power-assisted steering with Pull-Drift Compensation help drivers park in tight spaces, manoeuvre in heavy traffic and make tight U-turns. Also, Ecosport is the first in its class to offer Ford SYNC, the voice-activated in-car connectivity that enables drivers to choose music, make calls without taking their hands off the steering.<br /> <br /> Another amazing thing about Ecosport is that it is available in 10 variants across four trims, three engine options and seven colours, with the option of manual and automatic transmission as well. The 1.0 litre Ecosport is powered by Ford’s patented 1.0-litre EcoBoost engine. The engine delivers a maximum power of 125 ps and peak torque of 170 Nm at 1400- 4500 rpm. Other engine options are 1.5L TDCi and 1.5L Ti-VCT.<br /> <br /> For safety, Ecosport has features like Hill Launch Assist in petrol automatic variant and ESP in models with automatic transmission. Ecosport also offers airbags for the driver and front passenger, as well as side airbags and curtain airbags, depending on the variant. Ford EcoSport is launched at an entry-level pricing of Rs 28,50,000.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'GO Ford launched Ecosport last week, a new SUV in the market that it claims to have compelling value-for-money proposition. According to the company, Ecosport will be a game changer in the SUV segment, and will also take on other segments like sedan and premium hatchbacks.', 'sortorder' => '1271', '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' => '1408', 'article_category_id' => '137', 'title' => 'World Unprepared For Urban Boom', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> In a world of more than nine billion people by 2050, most of the 6.5 billion urban dwellers will be living in developing countries, says the World Economic and Social Survey 2013, emphasising that new strategies are needed to address the impacts of rapid urbanisation around the world, including increasing demands for energy, water, sanitation, public services, education and health. </div> <div> </div> <div> According to the survey published by the UN Department for Economic and Social Affairs last week, more than 6.25 billion people will be living in cities by 2050. Within the time period of 2000-2050, developing regions could add 3.2 billion new urbanites, a figure larger than the entire world’s population in 1950. The survey found that the vision of sustainable development — promoting economic and social wellbeing while protecting the environment — has not been achieved, despite encouraging progress. Rising inequality and shortfalls in development partnership, rapid population growth, climate change and environmental degradation have hampered efforts. </div> <div> </div> <div> Damage to the global environment is reaching critical levels and threatens to lead to irreversible changes in global ecosystems, the survey said. The overarching environmental damage is anthropogenic, with humans releasing increased concentrations of greenhouse gases in the atmosphere, which is leading to global warming. If no policy framework is established to address this issue, the survey states, the number of people living in slums lacking access to basic infrastructure and services such as water, sanitation, electricity, health care and education might triple from 1 billion at present to 3 billion by 2050. </div> <div> </div> <div> The survey states that sustainable development of urban areas requires integration, coordination, and investments to tackle issues of land-use, food security, job creation, building new roads, biodiversity conservation, water conservation, renewable energy sourcing, waste and recycling management, and the provision of education, health care and housing. The survey calls for ambitious, action-oriented sustainable development strategies to address the different levels of urban development that are adaptable to different contexts. </div> <div> </div> <div> Estimates indicate that food production will have to increase 70 percent globally to feed an additional 2.3 billion people by 2050. The survey emphasises that economic and financial incentives to create and adopt new technologies will require policy reforms including taxes and subsidies, as well as regulatory reforms. (Agency)</div> <table border="0" cellpadding="20" width="99%"> <tbody> <tr> <td bgcolor="#FFFFFF"> <div> <span style="font-size:14px;"><strong>‘Nepal’s push for urbanization is poorly managed’</strong></span></div> <div> </div> <div> Nepal, once viewed as least urbanised country in South Asia, is witnessing a rapid pace of urbanisation. Population increase and migration are considered as significant factors in the growth of cities across the country. Rise in infrastructure development and increased economic opportunities too are fuelling the push for urbanisation. According to government data , Nepal’s urban population grew at 4.45 percent in 2012 compared to the previous year. Some 20 percent of Nepal’s population is currently living in urban areas. The contribution of urban areas to the gross domestic product (GDP) is assumed to be 65 percent. Urban areas in Nepal spread across 3,276 km square of the total area. A report published by The World Bank last year marked Nepal as the fastest urbanising nation in South Asia. </div> <div> </div> <div> However, poorly managed urbanisation in Nepal is ringing alarm bells as many problems have emerged. Particularly, the growth of cities is associated with rise in unemployment, inadequate health service, poor sanitation, urban slums, environmental degradation and crime. The World Bank last year warned that unless the government seriously manages urbanisation better, the country could fail to attain economic efficiency from the process. In March 2013, the bank also published another report entitled ‘Urban Growth and Spatial Transition: An Initial Assessment’ which warns about the consequences of unmanaged urbanisation in Nepal. ‘Nepal’s urban centres, particularly the Kathmandu Valley, are already facing serious challenges due to multiple factors such as inadequate infrastructure, haphazard planning and poor business environment,’ states the report. The report strongly advocates for the government to prioritise on investment in infrastructure, connect cities internally and externally and make growth inclusive in order to foster the growth and sustainability of urban area</div> <div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'In a world of more than nine billion people by 2050, most of the 6.5 billion urban dwellers will be living in developing countries, says the World Economic and Social Survey 2013', 'sortorder' => '1270', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '1407', 'article_category_id' => '115', 'title' => 'Tech Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>India to Intercept Blackberry Chat</strong><br /> <br /> Blackberry is ready to provide the Indian authorities with a way to intercept consumers’ messages sent and received on its platform. The news was revealed by the Times of India, which published part of a leaked government document. This would bring an end to a long-running dispute between the two sides. In 2010 the country had threatened to impose a ban on Blackberry devices, saying its secret services needed to be able to access suspects’ messages in order to prevent terrorist attacks. (BBC)<br /> <br /> <br /> <img alt="mobile" src="/userfiles/images/tmobile.jpg" style="margin: 10px;" /><br /> <br /> <br /> <strong>T-Mobile Lets Customers Upgrade Phones Twice a Year</strong><br /> <br /> T-Mobile is making a bid to become the wireless world’s “un-carrier,” rolling out a plan that will let users update their phones up to twice a year for a modest fee. That’s a sharp departure from the traditional model for wireless companies, which usually requires customers to complete a two-year contract before they can get a new smartphone at the discounted rate that makes them affordable. (CNN)<br /> <br /> <br /> <img alt="microsoft" src="/userfiles/images/microsoft.jpg" style="width: 211px; height: 204px; margin: 10px;" /><br /> <br /> <br /> <strong>Microsoft Shakes Up Management Again</strong><br /> <br /> Microsoft has once again reorganized its management structure, marking yet another strategy shift for a company that has a very mixed track record in restructuring its business operations. The shakeup, which Microsoft (MSFT, Fortune 500) announced Thursday, is intended to better align the company’s organizational structure with its new corporate strategy. CEO Steve Ballmer declared in October 2012 that Microsoft would transition to a “devices and services” company, focusing on making hardware, online services and apps that work together seamlessly across multiple screens and gadgets. (CNN)<br /> <br /> <br /> <br /> <img alt="space" src="/userfiles/images/space.jpg" style="margin: 10px;" /><br /> <strong>Space Probe Sees Solar System’s Tail</strong><br /> <br /> Thanks to solar wind blowing out from the sun in all directions at a million miles per hour, material from comets gets whipped back into a formation that looks like a tail. Now, scientists know that our solar system has a tail of its own, with a surprising shape. NASA researchers working with data from the Interstellar Boundary Explorer announced Wednesday they have for the first time mapped the solar system’s tail, called the heliotail. Their study is published in the Astrophysical Journal. (CNN)<br /> <br /> <br /> <br /> <br /> <strong><img alt="solarpanel" src="/userfiles/images/solarpanel.jpg" style="margin: 10px;" /><br /> Solar Plane Lands in New York, Completing US Journey</strong><br /> <br /> An airplane entirely powered by the sun touched down in New York City late on Saturday, completing the final leg of an epic journey across the United States that began over two months ago.The Solar Impulse, its four propellers driven by energy collected from 12,000 solar cells in its wings to charge batteries for night use, landed at John F. Kennedy Airport at 11:09 p.m. EDT, organizers said. (Reuters)<br /> <br /> <br /> <img alt="feds" src="/userfiles/images/feds(1).jpg" style="margin: 10px; width: 276px; height: 207px;" /><br /> <br /> <strong>Feds Asked to Avoid Def Con Hacker Meeting</strong><br /> <br /> Federal agents have been asked to stay away from one of the world’s biggest hacker gatherings. Revelations about the scale of US government spying meant emotions in the hacking world were “running high”, said organisers of the Def Con convention. As a result, federal agents should take a “timeout” from Def Con this year. The main Def Con event takes place in Las Vegas from 1 August and will see 15,000 hackers’ debate security topics and demonstrate their coding prowess. (BBC)<br /> <br /> <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' => 'Blackberry is ready to provide the Indian authorities with a way to intercept consumers’ messages sent and received on its platform. The news was revealed by the Times of India, which published part of a leaked government document. This would bring an end to a long-running dispute between the two sides. In 2010 the country had threatened to impose a ban on Blackberry devices, saying its secret services needed to be able to access suspects’ messages in order to prevent terrorist attacks. (BBC)', 'sortorder' => '1269', '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' => '1406', 'article_category_id' => '150', 'title' => 'Business Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>JCB’s Operator Meet</strong><br /> <br /> MAW Enterprises Pvt Ltd JCB Division, the sole distributor of JCB construction and heavy equipment organized an Operator Meet in Kathmandu. The Meet was attended by 49 operators. Operators were educated about operating machine safely and keeping it to increase the life of machine in the Meet. The operators were also offered free health checkup in the Meet.<br /> <br /> <br /> <img alt="samsung" src="/userfiles/images/samsung.jpg" style="width: 346px; height: 153px; margin: 10px;" /><br /> <br /> <strong>Samsung’s ‘Din Saat, Dhamaka Saath’ Scheme</strong><br /> <br /> Samsung launched a week-long scheme named ‘Din Saat, Dhamaka Saath’ that ended on 13 July 2013. With this scheme, customers received a free camera on the purchase of certain models of LED TVs. Also, the customers were offered discounts on the purchase of various models of LED TVs. The scheme received overwhelming response from customers and dealers, says a press release.<br /> <br /> <br /> <img alt="ncell" src="/userfiles/images/Ncell.jpg" style="width: 248px; height: 94px; margin: 10px;" /><br /> <br /> <strong>Ncell to Gift Galaxy S4 to 5 Customers Everyday</strong><br /> <br /> Ncell has launched a new scheme ‘Recharge and Win Phone’ under which five customers can win Samsung Galaxy S4 every day. Ncell customers topping up the balance with Rs 100 or more will be automatically registered for the lucky draw. The five winners will be decided through a lucky draw that will be held daily. The scheme started on 10 July and will last till a month. The scheme is open for all Ncell customers, including pre-paid and post-paid subscribers. All recharges done through recharge card, VFT and banks will be valid for registering the customers for the lucky draw.<br /> <br /> <br /> <img alt="royal" src="/userfiles/images/royal.jpg" style="margin: 10px;" /><br /> <br /> <strong>Royal Footwear’s Showroom in Dhangadhi</strong><br /> <br /> Royal Footwear Industry Pvt Ltd has opened its third showroom in Park Chowk of Dhangadhi. The company has been manufacturing casual, party, sports and school shoes along with sandals. The company provides a warranty of six months in all its products, and will open more showrooms in different parts of the country in near future, says a press release.<br /> <br /> <br /> <img alt="rajeshamal" src="/userfiles/images/rajeshhamal.jpg" style="width: 462px; height: 253px; border-width: 1px; border-style: solid; margin: 10px;" /><br /> <br /> <strong>Suzuki Motorcycles’ Showroom at Thapathali</strong><br /> <br /> Ganesh Enterprises Pvt Ltd has opened a new showroom pf Suzuki motorcycles at Thapathali. The showroom was jointly inaugurated by celebrities Rajesh Hamal and Komal Oli. On the same occasion, the company also launched Inazuma Gw, a 250cc motorbike.<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' => 'MAW Enterprises Pvt Ltd JCB Division, the sole distributor of JCB construction and heavy equipment organized an Operator Meet in Kathmandu. The Meet was attended by 49 operators. Operators were educated about operating machine safely and keeping it to increase the life of machine in the Meet. The operators were also offered free health checkup in the Meet.', 'sortorder' => '1268', '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' => '1405', 'article_category_id' => '134', 'title' => '‘We Are Soft Now, Shall Be Strict Soon’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;">Jiwan Prava Lama is the Director General of Department of Food Technology and Quality Control (DFTQC). In an interview with The Corporate’s Suraksha Adhikari, she talked about the present controversy about dairy products in Nepal and highlighted the plans of DFTQC for improving quality of foods in Nepali market. <strong>Excerpts: </strong></span></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1"> <tbody> <tr> <td> <img alt="Jiwan Prava Lama,Director General of Department of Food Technology and Quality Control (DFTQC)" src="/userfiles/images/lama.jpg" style="width: 250px; height: 309px;" /></td> </tr> <tr> <td style="text-align: center;"> <div> <strong>Jiwan Prava Lama</strong>,</div> <div> Director General</div> <div> Department of Food Technology and Quality Control</div> </td> </tr> </tbody> </table> <div> <strong>Your department has reported that sub-standard and non-edible foods are freely traded in the market. Does it imply a failure of regulators? </strong></div> <div> </div> <div> There are 181 standards for food. Within those standards there are 10 categories with various parameters. If the manufactured food doesn’t meet a single parameter, we consider it as a non-parameter. We do report such cases but food products that do not meet every parameter cannot be considered adulterated. Some of them are non-conformant, sub-standardized, and some are adulterated. All of these foods are not non-edible. Some of them can be eaten after applying some safety measures. </div> <div> </div> <div> We do not consider it as a failure of regulators as it comes under the food safety chain. The quality of food has to be ensured right from its production to the time it reaches the dining table. The food should be checked during production, packaging and even during consumption as even the wrong way of consumption can decrease its quality. </div> <div> </div> <div> <strong>Your department’s report on milk products in Kathmandu has caused a drastic reduction in consumption of processed milk, threatening both the dairy industry and dairy farming. What is your comment? </strong></div> <div> </div> <div> Our department monitored 14 dairy industries and collected 17 samples of milk. Among them, none had met all the parameters. A minimum of two percent of coliform was found in the milk, which does not meet our standard. In such a situation, certain actions are necessary to minimize such irregularities. We are taking action upon these dairies because of which consumption might have decreased. The government too has formed the National Dairy Development Board in order to reduce the adulteration of milk, thereby increasing its quality. </div> <div> </div> <div> <strong>You are also the head of Nepal Food Scientists and Technologists Association (NEFOSTA). What can your association do for resolving these issues? </strong></div> <div> </div> <div> NEFOSTA can play the role of an agent between the government and the industries and fill the gap of technical manpower in companies. There is a lack of skilled manpower in the dairy business because of which these problems are emerging. Our association can help the government by providing technical manpower to ensure quality food. </div> <div> </div> <div> <strong>It is alleged that your department’s campaign against contaminated milk is discriminatory as it punished Nepali dairies while imported milk was not checked. What is your comment? </strong></div> <div> </div> <div> Our department verifies the quality of milk within certain standards, norms and policies of the department. There are processes that we have to go through when we are performing each and every task. We are checking the quality of milk only on the basis of coliform now and penalizing those dairies where 0-1000 units of coliforms are found in the milk produced by them. Until now, we have been focusing on some soft punishments but we are moving towards some strict action soon. </div> <div> </div> <div> <strong>Your department is criticized also because it has come down harshly on registered dairies and neglected the unregistered ones, discouraging people from registering their dairies and coming under government tax net. What do you have to say? </strong></div> <div> </div> <div> It is the duty of local bodies of the concerned area to look after the registration of industries. Our task is to monitor the registered ones. If the local bodies perform their tasks properly, we could perform our work more effectively. But in our country, concerned sectors are not aware of the responsibilities provided by the law. Though the non-registered dairies don’t come under our scope of work, we are planning to investigate even them. We have not been able to go ahead for examining the quality of local dairies due to lack of skilled manpower, but we will be involving ourselves with them gradually. </div> <div> </div> <div> <strong>Five dairies are sealed by the government for contamination. What is your take on this? </strong></div> <div> </div> <div> We have sealed those dairies for the sake of improving the quality of milk. During the survey of dairies, those which failed to meet certain standards were sealed. But we are liberal on this issue as we can give permission to re-open the sealed diaries if they improve their standards. This action is a warning to the dairies to focus on quality production of milk. Kharipati Dairy was also sealed but when it improved its quality, we permitted its operation to resume. </div> <div> </div> <div> <strong>What further plans does the department have to increase the quality of food? </strong></div> <div> </div> <div> Presently, we are focusing on quality assurance of milk. There is still so much to be done in the issue of water contamination. After this, we are going into water purification. Sample collection is being done for the inspection of water. </div> <div> </div> <div> Further, we will be focusing on other domestic products and import-export products. Only goods that meet the legal provisions of Nepal and familiar to consumers here should be imported. We have also discussed with the government to work on the classification of the industries and in maintaining the standard of the Nepali market by developing good management practice in the market to assure Nepali people of quality goods.</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' => 'Jiwan Prava Lama is the Director General of Department of Food Technology and Quality Control (DFTQC). In an interview with The Corporate’s Suraksha Adhikari, she talked about the present controversy about dairy products in Nepal and highlighted the plans of DFTQC for improving quality of foods in Nepali market', 'sortorder' => '1267', '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' => '1404', 'article_category_id' => '149', 'title' => 'Steady Progress To The Top', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Chairman Deepak Shrestha and Managing Director Amrit Pd Dwa with Brand Ambassador Rajesh Hamal (Center).</strong><br /> <br /> <br /> <br /> <br /> <strong>By Shruti Sonthalia</strong><br /> <br /> <br /> Nepatop, a manufacturing company of plastic water-storage tanks, compost bins, water pumps, pipes and fittings among other polythene-based products, was established in the year 1999 by Chairperson Deepak Shrestha and Managing Director Amrit Prasad Dwa. Friends prior to being colleagues, the duo got their acumen together to form what stands today as a respectable ISO certified company.<br /> <br /> Assuring as the tagline “Sab thikthak!” sounds, the journey of Nepatop as a business venture has indeed been alright. Major issues that pose challenge include the increasing rate of currency exchange which has nearly doubled since the time of the company’s birth. This of course adds to the cost of raw materials the company has to import.<br /> <br /> Other challenges include availability of labour – the lack of which can hamper the company’s progress. Nepatop, nevertheless, is sailing fine with 300 workers today. Shrestha, who believes that Nepalis ought to support their home economy instead of going abroad for opportunities, observes the changing patterns in human resource in his company: “Initially we had to hire engineers and trainers from abroad but today, I am proud to say that we have a strong Nepali manpower to complete the job,” he says.<br /> <br /> Nepatop started business by producing water storage tanks, has indeed been alright. Major issues that pose challenge include the increasing rate of currency exchange which has nearly doubled since the time of the company’s birth. This of course adds to the cost of raw materials the company has to import.<br /> <br /> Other challenges include availability of labour – the followed by water pumps, PPR pipes and fittings, HDPE pipes, UPVC pipes and fittings, and a new product is expected by 2014. The company aims to satisfy its customers by maintaining good quality and providing after-sale services, which is also a part of its marketing strategy. Additionally, Nepatop products are advertised in style with Rajesh Hamal as their brand ambassador.<br /> <br /> The company has four workstations three in the capital itself and one in Nuwakot, covering an area of 60,000 square feet all fully automatic plants producing 20- 25 metric tonne of goods per day. The market share for each of its products is different-the company has 75 percent of the market in PPR pipes, 16- 18 percent in water tanks, 25 percent in UPVC and less than 2-3 percent in HDPE.<br /> <br /> In terms of production capacity, the company still needs to achieve another 20- 25 percent of the current amount produced. But with 17 distribution channels in place countrywide, Nepatop seems to have good infrastructure in place to assure a steady progress in the future. Shrestha mentions that the company is one of the largest tax payers in the country. But on a more positive note, he forecasts with believable confidence that Nepatop will be the largest producers of plastic pipes and fittings by 2020.<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' => 'Nepatop, a manufacturing company of plastic water-storage tanks, compost bins, water pumps, pipes and fittings among other polythene-based products, was established in the year 1999 by Chairperson Deepak Shrestha and Managing Director Amrit Prasad Dwa. Friends prior to being colleagues, the duo got their acumen together to form what stands today as a respectable ISO certified company.', 'sortorder' => '1266', 'image' => '1373884811.jpg', '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' => '1403', 'article_category_id' => '122', 'title' => 'TM Dugar Group: Preserving Its Legacy', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Gaurav Aryal</span></strong></div> <table align="right" border="0" cellpadding="1" cellspacing="1"> <tbody> <tr> <td> <img alt="Moti Lal Dugar,Chairman, TM Dugar Group" src="/userfiles/images/dugar2.jpg" style="width: 200px; height: 220px; margin: 5px 2px;" /></td> </tr> <tr> <td style="text-align: center;"> <div> <strong>Moti Lal Dugar</strong></div> <div> <span style="font-size: 12px;">Chairman, TM Dugar Group</span></div> </td> </tr> </tbody> </table> <div> </div> <div> T M Dugar Group of companies has a legacy of almost 140 years in Nepal. It was established by the first generation of businesspersons in the Dugar family and has carved a niche and a strong brand image for itself. The group today is far from its heyday, though it has not lost all of its charm. According to Chairman Moti Lal Dugar, the group has been hit hard by the prevailing gloom in the business environment. </div> <div> </div> <div> <strong>Sizing down </strong></div> <div> </div> <div> “The organised sector is treading a path of misery. We have felt that we are less capable to work in such an environment. So, without alleging anyone, we are closing some of our ventures,” Dugar expressed dissatisfaction. Bureaucratic hassles and procedural delays have been discouraging constraints in the business. Dugar also says that it is extremely difficult to run a business in current times. The group has closed down almost half a dozen manufacturing units. </div> <div> </div> <div> With no plans for expansion in the manufacturing sector, the group has kept itself in a ‘wait and watch’ mode and has decided to sustain those ventures that are doing relatively well. Says Dugar: “We do not have thoughts to pursue a new line of business today. We are instead concentrating on ways to sustain our ventures and even downsizing and closing some of them.” He says that doing business in current unfavourable environment is not an easy job and going for expansion at the moment would be a costly proposition. </div> <div> </div> <div> <strong>The Hydro Hope </strong></div> <div> </div> <div> Despite the depressing business climate, the group sees prospects in the hydropower industry. Although Dugar did not reveal the details of the project, he says the group is soon developing three hydropower plants. “Hydropower is the only sector where the future rests,” he claims. </div> <div> </div> <div> The group is currently waiting for the government’s approval of the projects and to sign the power purchase agreement (PPA) with the Nepal Electricity Authority (NEA). After filing an application for the PPA at NEA, things have yet to be finalised due to procedural delays. “We are ready from our side but we need the go ahead signal from the government,” Dugar shares.</div> <div> </div> <div> Dugar expects the construction phase to begin next year. While a detailed project report has already been completed, progress has stalled at the project development stage since the past five to six years. “The response of NEA is not encouraging. They invite investors but the government monopsony --NEA--is reluctant to purchase electricity. We do not have the provisions to sell power directly to the industries by paying wheeling charges to NEA for using their transmission line.” </div> <div> </div> <div> Initially, the group will make investments in the project solely, but Dugar is open to including locals and to inviting public shareholders once the construction begins. As the hydropower project is capital-intensive, the group has kept its doors open for external partners as well. Dugar believes that the hydropower sector of Nepal can only be developed when the government, investors, general public and the private sector can go hand in hand. </div> <div> </div> <div> <strong>Days of Glory </strong></div> <p> Chandmal Dugar--Moti Lal Dugar’s grandfather--first initiated business in Biratnagar with the trading of agro products like paddy, jute and textiles. Business later expanded into the processing of jute and setting up rice mills in different parts of the country. The group grew further during his son’s time, but it took a new turn under the leadership of his second grandson - Tolaram Dugar. After the death of his father, Tolaram shouldered all responsibilities of the group at the age of 28. Dugar credits his brother’s contributions in taking the business to new heights. Later, when the family split in the early 90s, the group was divided into three sub groups namely HC Dugar, KL Dugar and TM Dugar. Though the group split professionally, Dugar says that family relations are still going strong and united.</p> <div> </div> <div> <strong>Current Involvement </strong></div> <div> </div> <div> <img alt="" src="/userfiles/images/dgr3.jpg" style="float: right; width: 325px; height: 153px;" /></div> <div> TM Dugar Group has specialised in manufacturing of food grains such as rice, lentils and vegetable oils. It was the TM Dugar Group that set up modern rice mills in Dhangadhi in far-western Nepal and contributed in creating and expanding the market for agro products. Today, the group has a wide array of investments in banking, hydropower, automobiles, agro solutions, life insurance, FMCG products, agro based industries and automobiles, among others. The group is a major promoter of Sunrise Bank Ltd. and Gurans Life Insurance Co Ltd.--two public limited companies in the financial sector. The group stepped into the service industry through banking and insurance about seven years ago. </div> <div> </div> <div> The automobiles trading wing of the group imports and sells vehicles of the Japanese brand Nissan, buses and trucks from the Indian company Mahindra, motorcycles from Royal Enfield and tractors from John Deere. Similarly, Frooti and Appy are two soft drink brands that are produced by the TM Dugar Group in Nepal. In the days to come, the group plans to concentrate on the service <span style="font-size: 12px;">sector. Banking, life insurance and hydropower are some of the areas of its interest, although there are hints that the group will gradually be working under the model of public limited company. “Slowly we will go into the public limited model of doing business. Old businesses will continue as they are and the new ventures will be under this new model. Sunrise Bank and Gurans Life Insurance are public limited companies whereas the hydropower companies will also go public once they enter the construction phase,” Dugar says. </span></div> <div> </div> <div> <strong><img alt="Dugar Food and Beverage" src="/userfiles/images/dgr4.jpg" style="width: 500px; height: 380px; margin: 5px 25px;" /></strong></div> <div> <div> <strong>Management Style </strong></div> <div> </div> <div> The group has provided employment to more than 600 people in its various companies. However, Dugar says that the group’s latest strategy of business constriction allows no new employees to be hired. Though the company does not have layoff plans, vacancies are not being announced after employees resign. Human resource management is done professionally through a separate team at the TM Dugar Group. </div> <div> When it comes to making decisions, professionals and managers are given the right to make decisions on administrative and daily procedures. However, financial matters are left to the board to decide. </div> <div> Staying cautious in a ‘wait and watch mode’, the group does not have any plans other than venturing into hydropower generation. The group has its hopes pinned on this sector and it is a matter of time before it will begin developing power plants and find itself once again in expansion mode.</div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <strong><span style="font-size:14px;">AT A GLANCE</span></strong></div> <div> </div> <div> <strong>Financial Services</strong></div> <div> </div> <div> After trading and manufacturing, the TM Dugar Group ventured into the financial service sector. The first move into this sector was with Sunrise Bank Limited, an A class financial institution, in association with other business houses of Nepal. The bank has a paid-up capital of Rs 2.015 billion and authorised capital of Rs 5 billion. <span style="font-size: 12px;">Similarly, the next venture was in the life insurance business, which is believed to hold tremendous potentials. So, Gurans Life Insurance Company was established in 2008, six months after the Sunrise Bank, where the group is one of the major promoters. The company has a total authorised capital of Rs 500 million, out of which issued and paid-up capital accounts to Rs 360 million. Out of the total issued capital, 30 per cent has been allotted to the public through IPO and 70 per cent remains with the promoters. There are more than 26,000 shareholders in the company.</span></div> <div> <span style="font-size: 12px;"> </span></div> <div> <strong>Working Area </strong></div> <div> </div> <div> • Banking </div> <div> • Hydropower </div> <div> • Automobiles </div> <div> • Agro Solutions </div> <div> • Life Insurance </div> <div> • FMCG Products </div> <div> • Agro Based Industries</div> <div> </div> <div> <strong>Food Grains </strong></div> <div> </div> <div> The TM Dugar Group is an authorised supplier for the World Food Program (WFP), supplying food grains as per WFP standards for more than a decade. The TM Dugar Group also exports Nepali lentils to Bangladesh, India and other parts of the world. The group’s agro processing plants are situated in Birgunj, Nepalgunj and Dhangadhi. </div> <div> </div> <div> <strong>Corporate Social Responsibilities </strong></div> <div> </div> <div> The group has been regularly involved in various social causes since its establishment. There are two charitable trusts - Tolaram Malchand Dugar Charitable Trust and Motilal Vivek Dugar Charitable Trust - that support people by providing food, clothes, education, scholarships, medicines and surgery expenses. Some of the CSR activities the group has conducted thus far are:<span style="font-size: 12px;"> </span></div> <div> • Contribution to the construction of a wing in Nandi Madhyamik Vidyalaya, Naxal, Kathmandu. </div> <div> • Contribution to the construction of Bhagawan Mahavir Jain Niketan, Kathmandu </div> <div> • Contribution to the construction of Bhagawan Mahavir Jain Niketan, Birgunj </div> <div> • Contribution to the construction of Aditi Sadan, Biratnagar </div> <div> • Contribution to the construction of Jain Swetamber Terapanthi Sabha, Birgunj </div> <div> • Contribution to the construction of Jain Swetamber Terapanthi Sabha, Biratnagar </div> <div> • Construction of Tolaram Bhanwari Devi Chikitsalaya and Research Center, Biratnagar </div> <div> • Construction of schools, temples, homeopathic clinics and college buildings.</div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'T M Dugar Group of companies has a legacy of almost 140 years in Nepal. It was established by the first generation of businesspersons in the Dugar family and has carved a niche and a strong brand image for itself.', 'sortorder' => '1265', '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' => '1402', 'article_category_id' => '160', 'title' => 'Corptoon Issue 22', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" src="/userfiles/images/CORPTOON1A.jpg" style="width: 550px; height: 593px; margin: 5px 25px;" /></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' => 'Corptoon Issue 22', 'sortorder' => '1264', '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' => '1401', 'article_category_id' => '91', 'title' => 'About 511billion Budget For FY 2013-14', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div> <div> </div> <div> Ministry of Finance has prepared a government budget of about Rs 511 billion for FY 2013-1. The ordinances related to budget proposals had reached the President Office for approval when this matter was sent to the press. It was to be announced after getting the Presidential approval.</div> <div> </div> <div> The budget being announced today has no major new programme. However, it is regarded as better than that of several previous years as it is a ‘full budget’ while in the previous years there were truncated budgets. The last full-fledged budget was announced on FY 2011-12. The budget for 2013-14 has mainly focused on the so called ‘national pride projects’ and poverty alleviation programmes. </div> <div> </div> <div> The 2013-14 budget has also made provisions for the up-coming constitutional assembly elections. So, a huge portion of budget is being allocated for the security and increment of salary of the government employees. The size of the budget has increased due to the demand of increment of salary of government employees, stated a source.</div> <div> </div> <div> Similarly, the budget is also focused on energy, infrastructure development, agriculture and trade promotion.</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' => 'Ministry of Finance has prepared a government budget of about Rs 511 billion for FY 2013-1.', 'sortorder' => '1263', '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' => '1400', 'article_category_id' => '91', 'title' => 'Govt Fails To Keep Economy On Track', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div> <div> </div> <div> The failure of the government to meet targeted economic growth rate paved a way for its setback. The Economic Survey 2012 made public by Finance Ministry this week shows that the government’s target of achieving 5.5 per cent economic growth in 2012-13 slipped by nearly 2 percent age points limiting at 3.6 per cent.</div> <div> </div> <div> In the first 11 months of current fiscal year, the national economy suffered from near double-digit inflation and ballooning trade deficit along with the low economic growth, the survey said. National economy has expanded to Rs 1,701 billion and per capita income of Nepalis edged up to Rs 62,797 from the Rs 58,274 recorded last year.</div> <div> </div> <div> However, per capita income in dollar terms reduced to US $721 from US$742 of last year. The government also failed to contain inflation at 7.5 per cent as predicted. Imbalance in supplies due to an almost double-digit decline in key farm products jacked up inflation to 8.2 per cent by mid-June this year, according to the survey.</div> <div> </div> <div> Skyrocketing trade deficit, which touched Rs 438.67 billion during the first 11 months of the current fiscal year, according to Nepal Rastra Bank data, has been identified as another challenge in the economy. Revenue mobilization however reached Rs 280 billion as of July 10 this year, which is close to the target of Rs 289 billion.</div> <div> </div> <div> The government also failed to expedite capital expenditure in the fiscal year 2012-13. Though the government announced a budget of Rs 404.82 billion for the current fiscal year, only Rs 317 billion was spent by July 10, according to the survey. The amount excludes expenditure in 15 districts where the Treasury Single Account (TSA) system has not been implemented so far.</div> <div> </div> <div> However, the balance of payments surplus of Rs 52.69 billion, a 21.3 percent rise in remittance inflow to touch Rs 388.46 billion and record high foreign exchange reserves worth Rs 511.69 billion at the end of the current fiscal year have brought cheer among officials.</div> <div> The Economic Survey also shows that the share of consumption in the Gross Domestic Product (GDP) increased to 90.7 percent this year from 87.3 percent recorded last year.</div> <div> </div> <div> During the first eight months of the current fiscal year, the government added 1,987 km transmission lines, 128 km black-topped roads, 169 km gravel roads and 194 km earth roads despite the low spending capacity of the government due to late announcement of a full budget.</div> <div> </div> <div> <strong> Whopping Trade Deficit</strong></div> <div> </div> <div> Nepal racked up more than Rs 441.33 billion in trade deficits in the first 11 months of current fiscal year, according to the Current Macroeconomic Situation of Nepal (Based on Eleven Months’ Data of 2012-13) released by Nepal Rastra Bank (NRB).</div> <div> </div> <div> In the first 11 months of fiscal year 2012-13, merchandise imports surged by 21.2 percent to Rs 508.60 billion. Such imports had risen by 16.8 percent to Rs. 419.57 billion during the corresponding period of the previous year. Total imports surged in the review period due mainly to the rapid increase in imports from India.</div> <div> However, exports had increased by only 6.3 percent to Rs 67.21 billion during the same period of the previous year. The growth of total export remained low in the review period due to the slowdown in exports to both India and other countries, according to the report of NRB.</div> <div> </div> <div> <img alt="Overall Economic Indicators of FY 2012-13" src="/userfiles/images/overall.jpg" style="width: 500px; height: 267px; margin: 10px 25px;" /></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' => 'The failure of the government to meet targeted economic growth rate paved a way for its setback.', 'sortorder' => '1262', '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' => '1399', 'article_category_id' => '34', 'title' => 'Etihad Airways Posts Record Results For Second Quarter And First Half Of 2013', 'sub_title' => '', 'summary' => null, 'content' => '<p> Etihad Airways announced its strongest second quarter and half-year financial performances on record, reflecting continued solid growth in its airline alliance strategy and global cargo operations. The national carrier of the United Arab Emirates achieved an eight per cent increase in Q2 2013 passenger revenues, generating US $921 million (2012: US $855 million), while passenger revenues for the first half of 2013 reached US $1.8 billion (2012: $1.6 billion), up by 13 per cent. <br /> <br /> Revenue generated by codeshare and equity alliance airline partners was US $184 million in Q2 2013. This was 25 per cent above the US $147 million turnover in the same period of 2012. Partnership revenue comprised 20 per cent of the airline’s total passenger revenue in both Q2 and the first half of 2013. The President and Chief Executive Officer of Etihad Airways, James Hogan, said the company’s Q2 and half year results were achieved despite the continuation of unsteady economic and geopolitical factors, with air fare yields slightly lower for the quarter, compressed by strong competitive capacity growth and resultant price competition.<br /> <br /> “Despite the tough global trading climate, we have still achieved record, double digit growth in both Q2 and the first half of 2013,” Hogan said. Etihad Cargo continued to achieve the strongest growth in the company, with 112,963tons uplifted in Q2 2013 (2012: 89,470 tons) and 215,124 tons in the first half of 2013 (2012: 174,622 tons). This reflected a massive 26 per cent growth in Q2 and 23 per cent growth for the first half of 2013. <br /> <br /> The growth in cargo volumes was underpinned by the delivery in Q2 of three new freighter aircraft – one Airbus A330-200F, one Boeing 777-200F and the company’s first Boeing 747-8F, which was wet leased from Atlas Air – taking the cargo fleet to nine. Cargo performance was further boosted by increased passenger services, providing more under-floor freight capacity.<br /> </p>', 'published' => true, 'created' => '2013-07-10', 'modified' => '2013-07-15', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Etihad Airways announced its strongest second quarter and half-year financial performances on record, reflecting continued solid growth in its airline alliance strategy and global cargo operations. The national carrier of the United Arab Emirates achieved an eight per cent increase in Q2 2013 passenger revenues, generating US $921 million (2012: US $855 million), while passenger revenues for the first half of 2013 reached US $1.8 billion (2012: $1.6 billion), up by 13 per cent.', 'sortorder' => '1261', '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' => '1413', 'article_category_id' => '183', 'title' => 'Gateway To Shangri-La', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Gaurav Aryal</strong><br /> <br /> Nepal conceals abundant travel and adventure prospects amid the blue mountains and snowy white peaks. The Annapurna Dhaulagiri Community Trail Trek is one of the newer trekking routes that take travellers to the Himalayan Shangri-La. It is a part of the Great Himalaya Trail. A seven to 10 days long trek to the southern flank of the Annapurna and Dhaulagiri region offers the taste of Nepal that is away from Nepali image, tourists are usually known to.<br /> <br /> The trail passing through the Magar communities definitely offers the panoramic views of the majestic mountains and pristine wilderness. In addition, it is also a route to experience the exotic culture and livelihoods of Magar people in the surrounding villages. Community lodges and home stay have not only offered tourists to get a peaceful rest but is also an opportunity to understand the local culture and life style. Trekking in this route is a destination for responsible tourism where the benefits directly go to the local people.<br /> <br /> Tourism facilities have become an attractive source of income for local people. Nangi village, also known for the wireless project initiated by Ramon Magsaysay Award winner Mahabir Pun, is making a turnover of around Rs 1.4 million annually since the opening of trail. Community lodges are available at Banskharka, Nangi, Mohare, Dandakharka, Swanta and Khopra. Similarly, home stay is available at Tikot, Paudwar and Narchyang. Most of the stops in this route offer Wi-Fi Internet and telephone services.<br /> The community and ecotourism trekking route is classified as moderately difficult one. Trekking begins from Galeshwor of Myagdi and stops at Tatopani at the bank of Kaligandaki River or those looking for more thrill can also chose to go to Khair Lake and Annapurna Base Camp.<br /> <br /> Mohare (3320m) and Khopra (3660m), two highest points in the trail promise a panoramic view of the Annapurna and Dhaulagiri mountain range and are ideal for watching sunrise and sunset. The trail passing through the rhododendron forests would entice visitors during the spring season when these flowers bloom with full glory. Similarly, Annapurna and Dhaulagiri’s jaw dropping views never leave the traveller alone.The peak season for trekking in this route is from autumn to early winter and from early spring to summer. Although the spring condition may be mild in the lower hills but the highest points Mohare and Khopra may still be icy cold.<br /> <br /> The trail was opened up with a purpose to enhance the local community’s life style with the support of UNDP Micro Enterprise Development Programme (UNDP-MEDEP), Nepal Tourism Board (NTB) and Trekking Agencies’ Association of Nepal (TAAN).<br /> <br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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 conceals abundant travel and adventure prospects amid the blue mountains and snowy white peaks. The Annapurna Dhaulagiri Community Trail Trek is one of the newer trekking routes that take travellers to the Himalayan Shangri-La. It is a part of the Great Himalaya Trail. A seven to 10 days long trek to the southern flank of the Annapurna and Dhaulagiri region offers the taste of Nepal that is away from Nepali image, tourists are usually known to.', 'sortorder' => '1275', 'image' => '1373889087.jpg', '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' => '1412', 'article_category_id' => '157', 'title' => 'Cafe Horizon’s Wide Horizons', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Sujan Tiwari</strong><br /> <br /> <br /> I f you are tired of dining within the confinement of restaurant walls and want to breathe in fresh air as you eat, Café Horizon at Hotel Himalaya could be the perfect choice for you. Café Horizon serves as the main dining of the Hotel, and is popular among the in-house guests as well as guests from outside.The café begins from the lobby of the Hotel, and expands to the outside garden and continues up to the pool. There are numerous seating options to suit every mood. Whether you want a quick lunch, a lavish dinner or a peaceful time with your loved one, Café Horizon can cater to it all. The best place to seat, however, is the outside garden. One can relax in the lush garden and enjoy the view here.<br /> <br /> On a clear day, the garden offers the magnificent view of the Himalaya. It is probably one of the best views from any restaurant in Kathmandu. “As the Café is seen as soon as you enter the hotel, we consider it to be the focal point of our Hotel,” says Rabindra Tandukar, Executive Manager at Hotel Himalaya. The Café opens at 6 in the morning, and serves breakfast, dinner and everything in between before closing at 10 pm.<br /> <br /> The Café is a multi-cuisine one and Continental and Oriental dishes are the specialty here. Kamal S Rana, the Executive Chef of the Hotel has an experience of almost four decades, and specializes in Continental and Indian cuisine. The Cafe boasts of numerous Continental and oriental starters and mains. Insalata Caesar is one of the popular starters here, classic Caesar salad with croutons, and option of cheese, chicken or prawn, with traditional flavoured garlic essence.<br /> <br /> Another option could be grilled baby prawn salad. For the salad, prawn is marinated in garlic and lemon juice, pan grilled and is served with leafy veggies and garlic croutons. Herb Fried Prawn is what Chef Rana recommends. For the dish, prawns marinated in Himalayan spices is fried and served with onion rings and a ranch dip. Soup lovers can enjoy tom yum, minestrone and French onion soup among other varieties.<br /> <br /> The menu offers a lot of options for main courses as well. One of the best selling Continental main courses is Grilled Salmon Steak. It comes with pan baked Norwegian Salmon served with baked potatoes, veggies and risotto topped with lemon and herb sauce. Another Continental main is Mixed Grill on Sizzler that comes with tenderloin, hot dogs, chicken and potato with green pepper corn sauce. Ayam Masak Merah is an Oriental main. For the dish, veg noodles or fried rice is served with a spicy tomato based chicken curry cooked in Malaysian style. Hyderabadi biryani, Madras fish curry and tandoori murg are some of the Indian mains served at the Cafe.<br /> <br /> For quick lunch, the Cafe has assorted burgers and sandwiches. French Connection, a tenderloin sandwich in baguette is one of the popular sandwiches here. Those sticking with Nepali food can savour Nepali meal named Himalayan Thali. It is traditional Nepali meal served with choice of meat or veg, and is accompanied by dessert. Tiramisu, apple pie and fresh fruit platter are some of the served desserts.<br /> <br /> Going into beverages, the Cafe serves everything, from signature and classic cocktails to aperitifs, champagne, cognac and chilled beers. Himalayan refresher, a drink with gin, vodka, rum, soda, sugar syrup and lemon juice is one of the signature cocktails of the Cafe.<br /> <br /> The menu of the Cafe is changed every one and a half years, and the popular ones are continued and new dishes are added. “We continuously strive to offer our guests the best dining experience. We consider their feedback as well when we change the menu,” says Tandukar. A classy and peaceful ambience along with assorted multi-cuisine delicacies what Cafe Horizon is all about. Make it your next dining destination and you won’t leave unsatisfied.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'I f you are tired of dining within the confinement of restaurant walls and want to breathe in fresh air as you eat, Café Horizon at Hotel Himalaya could be the perfect choice for you. Café Horizon serves as the main dining of the Hotel, and is popular among the in-house guests as well as guests from outside.The café begins from the lobby of the Hotel, and expands to the outside garden and continues up to the pool. There are numerous seating options to suit every mood. Whether you want a quick lunch, a lavish dinner or a peaceful time with your loved one, Café Horizon can cater to it all. The best place to seat, however, is the outside garden. One can relax in the lush garden and enjoy the view here.', 'sortorder' => '1274', 'image' => '1373888635.jpg', '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' => '1411', 'article_category_id' => '161', 'title' => '‘Local Currency Funds Are Important For Private Sector Development’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Karin Finkelston,International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific." src="/userfiles/images/4a.jpg" style="float: right; margin: 0px 10px 0px 0px; width: 225px; height: 265px;" /></div> <div> <span style="font-size:14px;">Karin Finkelston is International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific. Her responsibilities include overseeing IFC’s investment and advisory programmes as well as maintaining relationships with key government and private sector partners in the region. Recently, she visited Nepal and spoke to Siromani Dhungana of The Corporate. <strong>Excerpt: </strong></span></div> <div> </div> <div> <strong>What is IFC’s overall strategy in South Asia? </strong></div> <div> </div> <div> South Asia is where the world’s poorest live in large numbers. Our mission is to create opportunity where needs are greatest and most relevant in this region. With many countries in the region facing development challenges and severe climate change impact amid political transition, this is a defining moment to make meaningful intervention. </div> <div> </div> <div> To meet these challenges, IFC’s strategy for South Asia is three-pronged: </div> <ul> <li> Achieving inclusive growth, including support for frontier regions through increased access to infrastructure; </li> <li> Addressing climate change impact through adaptation and mitigation measures; and </li> <li> Promoting regional and global integration including South- South investments and trade finance. </li> </ul> <div> </div> <div> <strong>As Asia Vice President for IFC, how do you think IFC can help countries like Nepal in their development agenda?</strong></div> <div> </div> <div> In my role as VP for Asia, I see the similarities and differences in context and also the potentials – picking up lessons and learning from other countries is invaluable. Nepal, for example, needs to meet the most important aspects of providing electricity to its people and industry and jobs to its youth. Nepal’s immense hydropower potential positions it well to respond to these needs. </div> <div> </div> <div> <strong>The needs in infrastructure, especially in energy can be met by harnessing the country’s hydro potential. What are IFC’s plans in this regard? </strong></div> <div> </div> <div> Nepal’s hydropower potential of about 84,000 MW is enough to meet about 3 percent of the global demand for power if the potential is fully realized. So far only about 686 MW is developed whereas the total installed capacity is 740 MW. The International Bank for Reconstruction and Development (IBRD), IFC and the Multilateral Investment Guarantee Agency (MIGA) are planning to collaborate on developing Nepal’s hydropower potential. IFC has supported hydropower projects in Nepal in the past as well. Two years back, we invested in a run-of-river hydropower project with Butwal Power Company. IFC’s financing is helping to renovate and upgrade the power plant, including the replacement of 100- year old turbines with modern and efficient technology. The plant’s output is expected to increase by 50 percent. </div> <div> </div> <div> <strong>How have you supported the private sector in other areas and businesses? </strong></div> <div> </div> <div> IFC’s strategic agenda in Nepal includes priority sectors of infrastructure, finance, including access to finance for SMEs and women entrepreneurs, tourism and agribusiness. With the corporation’s growing investments and advisory assistance, IFC is set to play a key role in Nepal. IFC is also working on a payment reform project and an advisory team is making important progress by building partnerships between the government and private sector through the Nepal Business Forum. We are now working with the private sector to promote improved agricultural and water management practices and introducing new technologies among small farmers producing rice, maize and sugarcane to adapt to climate change. </div> <div> </div> <div> <strong>IFC has been planning to issue local currency bond in Nepal. Could you please highlight the logic behind this?</strong></div> <div> </div> <div> A strong capital market helps the private sector to efficiently finance their operations, depending on the risk of the capital, instead of worrying about foreign exchange facilities. IFC supports local capital markets by issuing local currency bonds, often paving the way for other issuers. We also provide local currency finance to meet the needs of the private sector in many countries. Our projects require local currency financing as well. </div> <div> </div> <div> <strong>What do you have to say to the Nepali private sector that is focusing more on the problems of getting foreign capital than on local currency funds? </strong></div> <div> </div> <div> Developing local currency funds is an important element of private sector development. They help create access to long-term financing for large infrastructure projects and for small and medium enterprises- -the key drivers of jobs and growth. However, availability of strong local currency funds requires a conducive regulatory framework, a market and infrastructure. </div> <div> </div> <div> <strong>There is a big chunk of work IFC is leading on the advisory side--around reform. How do you think this work can help the private sector in Nepal? </strong></div> <div> </div> <div> IFC, through the South Asia Enterprise Development Facility, has been supporting the Nepal government’s efforts to focus on growing the country’s economy through improving the business environment, supporting sustainable business growth, and creating jobs. Our reform programmes in Nepal are aimed at making it easier to do business by reducing barriers to new business registration and streamlining the administration of taxes. We also help facilitate public-private dialogue to ensure that business reforms made by the government match private sector needs besides promoting private investments in Nepal.</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' => 'Karin Finkelston is International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific.', 'sortorder' => '1273', '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' => '1410', 'article_category_id' => '159', 'title' => 'Exercise Relieves Tension', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Om Prakash Sharma<br /> Director, Mahabir Automobiles</strong><br /> <br /> <br /> <br /> <br /> <strong>By Shruti Sonthalia</strong><br /> <br /> “After eight hours long work an entrepreneur should exercise”, believes the Director of Mahabir Automobiles, Om Prakash Sharma. This is how he spends his spare time. He goes to the Radisson Health Club to carry out his fitness activity. Sharma says exercising helps to reduce the mental fatigue and makes him fresh for the next day. The health club is a place to relax and unwind the day’s pressure.<br /> <br /> Sharma makes use of the fitness equipments in the club to work out. He also adds that the physical exercise makes one focused and far-sighted. Very rightly the entrepreneur chooses to exercise as his leisure time activity, because it increases the efficiency of a person. Not only that it also helps to inculcate various moral values in oneself like, patience, willpower and others necessary to be a successful management personnel. He adds, “It energizes and makes the work joyful, an ideal way to stay fit.”<br /> <br /> Being an physical exercise enthusiast Sharma loves sports. He plays cricket sometimes, which he wants to do regularly, but his busy schedule does not allow him. Apart from fitness activities he also spends some time with his family. He loves travelling and often goes for long-drive in his “own SUV”, as he points out.<br /> <br /> Sharma likes facing challenges, to which he cites an incident moment. Few months back he visited Pokhara and wanted to go for paragliding. He opted for that for the thrill. Initially, he was a little scared but finally answered the call of his heart by completing the exciting venture. This quality of determination helps him in his workplace in terms of decision making. “This combination of enthusiasm, sportsmanship and risk-taking makes me what I am,” he adds.<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' => '“After eight hours long work an entrepreneur should exercise”, believes the Director of Mahabir Automobiles, Om Prakash Sharma. This is how he spends his spare time. He goes to the Radisson Health Club to carry out his fitness activity. Sharma says exercising helps to reduce the mental fatigue and makes him fresh for the next day. The health club is a place to relax and unwind the day’s pressure.', 'sortorder' => '1272', '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' => '1409', 'article_category_id' => '158', 'title' => 'Ford EcoSport: A True Sport', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> <br /> <br /> GO Ford launched Ecosport last week, a new SUV in the market that it claims to have compelling value-for-money proposition. According to the company, Ecosport will be a game changer in the SUV segment, and will also take on other segments like sedan and premium hatchbacks.<br /> <br /> Ecosport’s design is quite extraordinary and compels you to take a second look. The most amazing part of its design may be the aggressive looking front grille and the stylish headlights. The overall build of the SUV looks quite sporty and aerodynamic. Styling definitely is one of the plus points of Ecosport.<br /> <br /> On the inside, there are some amazing features too. Ecosport’s compact sub-four metre dimensions and the electric power-assisted steering with Pull-Drift Compensation help drivers park in tight spaces, manoeuvre in heavy traffic and make tight U-turns. Also, Ecosport is the first in its class to offer Ford SYNC, the voice-activated in-car connectivity that enables drivers to choose music, make calls without taking their hands off the steering.<br /> <br /> Another amazing thing about Ecosport is that it is available in 10 variants across four trims, three engine options and seven colours, with the option of manual and automatic transmission as well. The 1.0 litre Ecosport is powered by Ford’s patented 1.0-litre EcoBoost engine. The engine delivers a maximum power of 125 ps and peak torque of 170 Nm at 1400- 4500 rpm. Other engine options are 1.5L TDCi and 1.5L Ti-VCT.<br /> <br /> For safety, Ecosport has features like Hill Launch Assist in petrol automatic variant and ESP in models with automatic transmission. Ecosport also offers airbags for the driver and front passenger, as well as side airbags and curtain airbags, depending on the variant. Ford EcoSport is launched at an entry-level pricing of Rs 28,50,000.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'GO Ford launched Ecosport last week, a new SUV in the market that it claims to have compelling value-for-money proposition. According to the company, Ecosport will be a game changer in the SUV segment, and will also take on other segments like sedan and premium hatchbacks.', 'sortorder' => '1271', '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' => '1408', 'article_category_id' => '137', 'title' => 'World Unprepared For Urban Boom', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> In a world of more than nine billion people by 2050, most of the 6.5 billion urban dwellers will be living in developing countries, says the World Economic and Social Survey 2013, emphasising that new strategies are needed to address the impacts of rapid urbanisation around the world, including increasing demands for energy, water, sanitation, public services, education and health. </div> <div> </div> <div> According to the survey published by the UN Department for Economic and Social Affairs last week, more than 6.25 billion people will be living in cities by 2050. Within the time period of 2000-2050, developing regions could add 3.2 billion new urbanites, a figure larger than the entire world’s population in 1950. The survey found that the vision of sustainable development — promoting economic and social wellbeing while protecting the environment — has not been achieved, despite encouraging progress. Rising inequality and shortfalls in development partnership, rapid population growth, climate change and environmental degradation have hampered efforts. </div> <div> </div> <div> Damage to the global environment is reaching critical levels and threatens to lead to irreversible changes in global ecosystems, the survey said. The overarching environmental damage is anthropogenic, with humans releasing increased concentrations of greenhouse gases in the atmosphere, which is leading to global warming. If no policy framework is established to address this issue, the survey states, the number of people living in slums lacking access to basic infrastructure and services such as water, sanitation, electricity, health care and education might triple from 1 billion at present to 3 billion by 2050. </div> <div> </div> <div> The survey states that sustainable development of urban areas requires integration, coordination, and investments to tackle issues of land-use, food security, job creation, building new roads, biodiversity conservation, water conservation, renewable energy sourcing, waste and recycling management, and the provision of education, health care and housing. The survey calls for ambitious, action-oriented sustainable development strategies to address the different levels of urban development that are adaptable to different contexts. </div> <div> </div> <div> Estimates indicate that food production will have to increase 70 percent globally to feed an additional 2.3 billion people by 2050. The survey emphasises that economic and financial incentives to create and adopt new technologies will require policy reforms including taxes and subsidies, as well as regulatory reforms. (Agency)</div> <table border="0" cellpadding="20" width="99%"> <tbody> <tr> <td bgcolor="#FFFFFF"> <div> <span style="font-size:14px;"><strong>‘Nepal’s push for urbanization is poorly managed’</strong></span></div> <div> </div> <div> Nepal, once viewed as least urbanised country in South Asia, is witnessing a rapid pace of urbanisation. Population increase and migration are considered as significant factors in the growth of cities across the country. Rise in infrastructure development and increased economic opportunities too are fuelling the push for urbanisation. According to government data , Nepal’s urban population grew at 4.45 percent in 2012 compared to the previous year. Some 20 percent of Nepal’s population is currently living in urban areas. The contribution of urban areas to the gross domestic product (GDP) is assumed to be 65 percent. Urban areas in Nepal spread across 3,276 km square of the total area. A report published by The World Bank last year marked Nepal as the fastest urbanising nation in South Asia. </div> <div> </div> <div> However, poorly managed urbanisation in Nepal is ringing alarm bells as many problems have emerged. Particularly, the growth of cities is associated with rise in unemployment, inadequate health service, poor sanitation, urban slums, environmental degradation and crime. The World Bank last year warned that unless the government seriously manages urbanisation better, the country could fail to attain economic efficiency from the process. In March 2013, the bank also published another report entitled ‘Urban Growth and Spatial Transition: An Initial Assessment’ which warns about the consequences of unmanaged urbanisation in Nepal. ‘Nepal’s urban centres, particularly the Kathmandu Valley, are already facing serious challenges due to multiple factors such as inadequate infrastructure, haphazard planning and poor business environment,’ states the report. The report strongly advocates for the government to prioritise on investment in infrastructure, connect cities internally and externally and make growth inclusive in order to foster the growth and sustainability of urban area</div> <div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'In a world of more than nine billion people by 2050, most of the 6.5 billion urban dwellers will be living in developing countries, says the World Economic and Social Survey 2013', 'sortorder' => '1270', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '1407', 'article_category_id' => '115', 'title' => 'Tech Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>India to Intercept Blackberry Chat</strong><br /> <br /> Blackberry is ready to provide the Indian authorities with a way to intercept consumers’ messages sent and received on its platform. The news was revealed by the Times of India, which published part of a leaked government document. This would bring an end to a long-running dispute between the two sides. In 2010 the country had threatened to impose a ban on Blackberry devices, saying its secret services needed to be able to access suspects’ messages in order to prevent terrorist attacks. (BBC)<br /> <br /> <br /> <img alt="mobile" src="/userfiles/images/tmobile.jpg" style="margin: 10px;" /><br /> <br /> <br /> <strong>T-Mobile Lets Customers Upgrade Phones Twice a Year</strong><br /> <br /> T-Mobile is making a bid to become the wireless world’s “un-carrier,” rolling out a plan that will let users update their phones up to twice a year for a modest fee. That’s a sharp departure from the traditional model for wireless companies, which usually requires customers to complete a two-year contract before they can get a new smartphone at the discounted rate that makes them affordable. (CNN)<br /> <br /> <br /> <img alt="microsoft" src="/userfiles/images/microsoft.jpg" style="width: 211px; height: 204px; margin: 10px;" /><br /> <br /> <br /> <strong>Microsoft Shakes Up Management Again</strong><br /> <br /> Microsoft has once again reorganized its management structure, marking yet another strategy shift for a company that has a very mixed track record in restructuring its business operations. The shakeup, which Microsoft (MSFT, Fortune 500) announced Thursday, is intended to better align the company’s organizational structure with its new corporate strategy. CEO Steve Ballmer declared in October 2012 that Microsoft would transition to a “devices and services” company, focusing on making hardware, online services and apps that work together seamlessly across multiple screens and gadgets. (CNN)<br /> <br /> <br /> <br /> <img alt="space" src="/userfiles/images/space.jpg" style="margin: 10px;" /><br /> <strong>Space Probe Sees Solar System’s Tail</strong><br /> <br /> Thanks to solar wind blowing out from the sun in all directions at a million miles per hour, material from comets gets whipped back into a formation that looks like a tail. Now, scientists know that our solar system has a tail of its own, with a surprising shape. NASA researchers working with data from the Interstellar Boundary Explorer announced Wednesday they have for the first time mapped the solar system’s tail, called the heliotail. Their study is published in the Astrophysical Journal. (CNN)<br /> <br /> <br /> <br /> <br /> <strong><img alt="solarpanel" src="/userfiles/images/solarpanel.jpg" style="margin: 10px;" /><br /> Solar Plane Lands in New York, Completing US Journey</strong><br /> <br /> An airplane entirely powered by the sun touched down in New York City late on Saturday, completing the final leg of an epic journey across the United States that began over two months ago.The Solar Impulse, its four propellers driven by energy collected from 12,000 solar cells in its wings to charge batteries for night use, landed at John F. Kennedy Airport at 11:09 p.m. EDT, organizers said. (Reuters)<br /> <br /> <br /> <img alt="feds" src="/userfiles/images/feds(1).jpg" style="margin: 10px; width: 276px; height: 207px;" /><br /> <br /> <strong>Feds Asked to Avoid Def Con Hacker Meeting</strong><br /> <br /> Federal agents have been asked to stay away from one of the world’s biggest hacker gatherings. Revelations about the scale of US government spying meant emotions in the hacking world were “running high”, said organisers of the Def Con convention. As a result, federal agents should take a “timeout” from Def Con this year. The main Def Con event takes place in Las Vegas from 1 August and will see 15,000 hackers’ debate security topics and demonstrate their coding prowess. (BBC)<br /> <br /> <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' => 'Blackberry is ready to provide the Indian authorities with a way to intercept consumers’ messages sent and received on its platform. The news was revealed by the Times of India, which published part of a leaked government document. This would bring an end to a long-running dispute between the two sides. In 2010 the country had threatened to impose a ban on Blackberry devices, saying its secret services needed to be able to access suspects’ messages in order to prevent terrorist attacks. (BBC)', 'sortorder' => '1269', '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' => '1406', 'article_category_id' => '150', 'title' => 'Business Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>JCB’s Operator Meet</strong><br /> <br /> MAW Enterprises Pvt Ltd JCB Division, the sole distributor of JCB construction and heavy equipment organized an Operator Meet in Kathmandu. The Meet was attended by 49 operators. Operators were educated about operating machine safely and keeping it to increase the life of machine in the Meet. The operators were also offered free health checkup in the Meet.<br /> <br /> <br /> <img alt="samsung" src="/userfiles/images/samsung.jpg" style="width: 346px; height: 153px; margin: 10px;" /><br /> <br /> <strong>Samsung’s ‘Din Saat, Dhamaka Saath’ Scheme</strong><br /> <br /> Samsung launched a week-long scheme named ‘Din Saat, Dhamaka Saath’ that ended on 13 July 2013. With this scheme, customers received a free camera on the purchase of certain models of LED TVs. Also, the customers were offered discounts on the purchase of various models of LED TVs. The scheme received overwhelming response from customers and dealers, says a press release.<br /> <br /> <br /> <img alt="ncell" src="/userfiles/images/Ncell.jpg" style="width: 248px; height: 94px; margin: 10px;" /><br /> <br /> <strong>Ncell to Gift Galaxy S4 to 5 Customers Everyday</strong><br /> <br /> Ncell has launched a new scheme ‘Recharge and Win Phone’ under which five customers can win Samsung Galaxy S4 every day. Ncell customers topping up the balance with Rs 100 or more will be automatically registered for the lucky draw. The five winners will be decided through a lucky draw that will be held daily. The scheme started on 10 July and will last till a month. The scheme is open for all Ncell customers, including pre-paid and post-paid subscribers. All recharges done through recharge card, VFT and banks will be valid for registering the customers for the lucky draw.<br /> <br /> <br /> <img alt="royal" src="/userfiles/images/royal.jpg" style="margin: 10px;" /><br /> <br /> <strong>Royal Footwear’s Showroom in Dhangadhi</strong><br /> <br /> Royal Footwear Industry Pvt Ltd has opened its third showroom in Park Chowk of Dhangadhi. The company has been manufacturing casual, party, sports and school shoes along with sandals. The company provides a warranty of six months in all its products, and will open more showrooms in different parts of the country in near future, says a press release.<br /> <br /> <br /> <img alt="rajeshamal" src="/userfiles/images/rajeshhamal.jpg" style="width: 462px; height: 253px; border-width: 1px; border-style: solid; margin: 10px;" /><br /> <br /> <strong>Suzuki Motorcycles’ Showroom at Thapathali</strong><br /> <br /> Ganesh Enterprises Pvt Ltd has opened a new showroom pf Suzuki motorcycles at Thapathali. The showroom was jointly inaugurated by celebrities Rajesh Hamal and Komal Oli. On the same occasion, the company also launched Inazuma Gw, a 250cc motorbike.<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' => 'MAW Enterprises Pvt Ltd JCB Division, the sole distributor of JCB construction and heavy equipment organized an Operator Meet in Kathmandu. The Meet was attended by 49 operators. Operators were educated about operating machine safely and keeping it to increase the life of machine in the Meet. The operators were also offered free health checkup in the Meet.', 'sortorder' => '1268', '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' => '1405', 'article_category_id' => '134', 'title' => '‘We Are Soft Now, Shall Be Strict Soon’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;">Jiwan Prava Lama is the Director General of Department of Food Technology and Quality Control (DFTQC). In an interview with The Corporate’s Suraksha Adhikari, she talked about the present controversy about dairy products in Nepal and highlighted the plans of DFTQC for improving quality of foods in Nepali market. <strong>Excerpts: </strong></span></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1"> <tbody> <tr> <td> <img alt="Jiwan Prava Lama,Director General of Department of Food Technology and Quality Control (DFTQC)" src="/userfiles/images/lama.jpg" style="width: 250px; height: 309px;" /></td> </tr> <tr> <td style="text-align: center;"> <div> <strong>Jiwan Prava Lama</strong>,</div> <div> Director General</div> <div> Department of Food Technology and Quality Control</div> </td> </tr> </tbody> </table> <div> <strong>Your department has reported that sub-standard and non-edible foods are freely traded in the market. Does it imply a failure of regulators? </strong></div> <div> </div> <div> There are 181 standards for food. Within those standards there are 10 categories with various parameters. If the manufactured food doesn’t meet a single parameter, we consider it as a non-parameter. We do report such cases but food products that do not meet every parameter cannot be considered adulterated. Some of them are non-conformant, sub-standardized, and some are adulterated. All of these foods are not non-edible. Some of them can be eaten after applying some safety measures. </div> <div> </div> <div> We do not consider it as a failure of regulators as it comes under the food safety chain. The quality of food has to be ensured right from its production to the time it reaches the dining table. The food should be checked during production, packaging and even during consumption as even the wrong way of consumption can decrease its quality. </div> <div> </div> <div> <strong>Your department’s report on milk products in Kathmandu has caused a drastic reduction in consumption of processed milk, threatening both the dairy industry and dairy farming. What is your comment? </strong></div> <div> </div> <div> Our department monitored 14 dairy industries and collected 17 samples of milk. Among them, none had met all the parameters. A minimum of two percent of coliform was found in the milk, which does not meet our standard. In such a situation, certain actions are necessary to minimize such irregularities. We are taking action upon these dairies because of which consumption might have decreased. The government too has formed the National Dairy Development Board in order to reduce the adulteration of milk, thereby increasing its quality. </div> <div> </div> <div> <strong>You are also the head of Nepal Food Scientists and Technologists Association (NEFOSTA). What can your association do for resolving these issues? </strong></div> <div> </div> <div> NEFOSTA can play the role of an agent between the government and the industries and fill the gap of technical manpower in companies. There is a lack of skilled manpower in the dairy business because of which these problems are emerging. Our association can help the government by providing technical manpower to ensure quality food. </div> <div> </div> <div> <strong>It is alleged that your department’s campaign against contaminated milk is discriminatory as it punished Nepali dairies while imported milk was not checked. What is your comment? </strong></div> <div> </div> <div> Our department verifies the quality of milk within certain standards, norms and policies of the department. There are processes that we have to go through when we are performing each and every task. We are checking the quality of milk only on the basis of coliform now and penalizing those dairies where 0-1000 units of coliforms are found in the milk produced by them. Until now, we have been focusing on some soft punishments but we are moving towards some strict action soon. </div> <div> </div> <div> <strong>Your department is criticized also because it has come down harshly on registered dairies and neglected the unregistered ones, discouraging people from registering their dairies and coming under government tax net. What do you have to say? </strong></div> <div> </div> <div> It is the duty of local bodies of the concerned area to look after the registration of industries. Our task is to monitor the registered ones. If the local bodies perform their tasks properly, we could perform our work more effectively. But in our country, concerned sectors are not aware of the responsibilities provided by the law. Though the non-registered dairies don’t come under our scope of work, we are planning to investigate even them. We have not been able to go ahead for examining the quality of local dairies due to lack of skilled manpower, but we will be involving ourselves with them gradually. </div> <div> </div> <div> <strong>Five dairies are sealed by the government for contamination. What is your take on this? </strong></div> <div> </div> <div> We have sealed those dairies for the sake of improving the quality of milk. During the survey of dairies, those which failed to meet certain standards were sealed. But we are liberal on this issue as we can give permission to re-open the sealed diaries if they improve their standards. This action is a warning to the dairies to focus on quality production of milk. Kharipati Dairy was also sealed but when it improved its quality, we permitted its operation to resume. </div> <div> </div> <div> <strong>What further plans does the department have to increase the quality of food? </strong></div> <div> </div> <div> Presently, we are focusing on quality assurance of milk. There is still so much to be done in the issue of water contamination. After this, we are going into water purification. Sample collection is being done for the inspection of water. </div> <div> </div> <div> Further, we will be focusing on other domestic products and import-export products. Only goods that meet the legal provisions of Nepal and familiar to consumers here should be imported. We have also discussed with the government to work on the classification of the industries and in maintaining the standard of the Nepali market by developing good management practice in the market to assure Nepali people of quality goods.</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' => 'Jiwan Prava Lama is the Director General of Department of Food Technology and Quality Control (DFTQC). In an interview with The Corporate’s Suraksha Adhikari, she talked about the present controversy about dairy products in Nepal and highlighted the plans of DFTQC for improving quality of foods in Nepali market', 'sortorder' => '1267', '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' => '1404', 'article_category_id' => '149', 'title' => 'Steady Progress To The Top', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Chairman Deepak Shrestha and Managing Director Amrit Pd Dwa with Brand Ambassador Rajesh Hamal (Center).</strong><br /> <br /> <br /> <br /> <br /> <strong>By Shruti Sonthalia</strong><br /> <br /> <br /> Nepatop, a manufacturing company of plastic water-storage tanks, compost bins, water pumps, pipes and fittings among other polythene-based products, was established in the year 1999 by Chairperson Deepak Shrestha and Managing Director Amrit Prasad Dwa. Friends prior to being colleagues, the duo got their acumen together to form what stands today as a respectable ISO certified company.<br /> <br /> Assuring as the tagline “Sab thikthak!” sounds, the journey of Nepatop as a business venture has indeed been alright. Major issues that pose challenge include the increasing rate of currency exchange which has nearly doubled since the time of the company’s birth. This of course adds to the cost of raw materials the company has to import.<br /> <br /> Other challenges include availability of labour – the lack of which can hamper the company’s progress. Nepatop, nevertheless, is sailing fine with 300 workers today. Shrestha, who believes that Nepalis ought to support their home economy instead of going abroad for opportunities, observes the changing patterns in human resource in his company: “Initially we had to hire engineers and trainers from abroad but today, I am proud to say that we have a strong Nepali manpower to complete the job,” he says.<br /> <br /> Nepatop started business by producing water storage tanks, has indeed been alright. Major issues that pose challenge include the increasing rate of currency exchange which has nearly doubled since the time of the company’s birth. This of course adds to the cost of raw materials the company has to import.<br /> <br /> Other challenges include availability of labour – the followed by water pumps, PPR pipes and fittings, HDPE pipes, UPVC pipes and fittings, and a new product is expected by 2014. The company aims to satisfy its customers by maintaining good quality and providing after-sale services, which is also a part of its marketing strategy. Additionally, Nepatop products are advertised in style with Rajesh Hamal as their brand ambassador.<br /> <br /> The company has four workstations three in the capital itself and one in Nuwakot, covering an area of 60,000 square feet all fully automatic plants producing 20- 25 metric tonne of goods per day. The market share for each of its products is different-the company has 75 percent of the market in PPR pipes, 16- 18 percent in water tanks, 25 percent in UPVC and less than 2-3 percent in HDPE.<br /> <br /> In terms of production capacity, the company still needs to achieve another 20- 25 percent of the current amount produced. But with 17 distribution channels in place countrywide, Nepatop seems to have good infrastructure in place to assure a steady progress in the future. Shrestha mentions that the company is one of the largest tax payers in the country. But on a more positive note, he forecasts with believable confidence that Nepatop will be the largest producers of plastic pipes and fittings by 2020.<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' => 'Nepatop, a manufacturing company of plastic water-storage tanks, compost bins, water pumps, pipes and fittings among other polythene-based products, was established in the year 1999 by Chairperson Deepak Shrestha and Managing Director Amrit Prasad Dwa. Friends prior to being colleagues, the duo got their acumen together to form what stands today as a respectable ISO certified company.', 'sortorder' => '1266', 'image' => '1373884811.jpg', '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' => '1403', 'article_category_id' => '122', 'title' => 'TM Dugar Group: Preserving Its Legacy', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Gaurav Aryal</span></strong></div> <table align="right" border="0" cellpadding="1" cellspacing="1"> <tbody> <tr> <td> <img alt="Moti Lal Dugar,Chairman, TM Dugar Group" src="/userfiles/images/dugar2.jpg" style="width: 200px; height: 220px; margin: 5px 2px;" /></td> </tr> <tr> <td style="text-align: center;"> <div> <strong>Moti Lal Dugar</strong></div> <div> <span style="font-size: 12px;">Chairman, TM Dugar Group</span></div> </td> </tr> </tbody> </table> <div> </div> <div> T M Dugar Group of companies has a legacy of almost 140 years in Nepal. It was established by the first generation of businesspersons in the Dugar family and has carved a niche and a strong brand image for itself. The group today is far from its heyday, though it has not lost all of its charm. According to Chairman Moti Lal Dugar, the group has been hit hard by the prevailing gloom in the business environment. </div> <div> </div> <div> <strong>Sizing down </strong></div> <div> </div> <div> “The organised sector is treading a path of misery. We have felt that we are less capable to work in such an environment. So, without alleging anyone, we are closing some of our ventures,” Dugar expressed dissatisfaction. Bureaucratic hassles and procedural delays have been discouraging constraints in the business. Dugar also says that it is extremely difficult to run a business in current times. The group has closed down almost half a dozen manufacturing units. </div> <div> </div> <div> With no plans for expansion in the manufacturing sector, the group has kept itself in a ‘wait and watch’ mode and has decided to sustain those ventures that are doing relatively well. Says Dugar: “We do not have thoughts to pursue a new line of business today. We are instead concentrating on ways to sustain our ventures and even downsizing and closing some of them.” He says that doing business in current unfavourable environment is not an easy job and going for expansion at the moment would be a costly proposition. </div> <div> </div> <div> <strong>The Hydro Hope </strong></div> <div> </div> <div> Despite the depressing business climate, the group sees prospects in the hydropower industry. Although Dugar did not reveal the details of the project, he says the group is soon developing three hydropower plants. “Hydropower is the only sector where the future rests,” he claims. </div> <div> </div> <div> The group is currently waiting for the government’s approval of the projects and to sign the power purchase agreement (PPA) with the Nepal Electricity Authority (NEA). After filing an application for the PPA at NEA, things have yet to be finalised due to procedural delays. “We are ready from our side but we need the go ahead signal from the government,” Dugar shares.</div> <div> </div> <div> Dugar expects the construction phase to begin next year. While a detailed project report has already been completed, progress has stalled at the project development stage since the past five to six years. “The response of NEA is not encouraging. They invite investors but the government monopsony --NEA--is reluctant to purchase electricity. We do not have the provisions to sell power directly to the industries by paying wheeling charges to NEA for using their transmission line.” </div> <div> </div> <div> Initially, the group will make investments in the project solely, but Dugar is open to including locals and to inviting public shareholders once the construction begins. As the hydropower project is capital-intensive, the group has kept its doors open for external partners as well. Dugar believes that the hydropower sector of Nepal can only be developed when the government, investors, general public and the private sector can go hand in hand. </div> <div> </div> <div> <strong>Days of Glory </strong></div> <p> Chandmal Dugar--Moti Lal Dugar’s grandfather--first initiated business in Biratnagar with the trading of agro products like paddy, jute and textiles. Business later expanded into the processing of jute and setting up rice mills in different parts of the country. The group grew further during his son’s time, but it took a new turn under the leadership of his second grandson - Tolaram Dugar. After the death of his father, Tolaram shouldered all responsibilities of the group at the age of 28. Dugar credits his brother’s contributions in taking the business to new heights. Later, when the family split in the early 90s, the group was divided into three sub groups namely HC Dugar, KL Dugar and TM Dugar. Though the group split professionally, Dugar says that family relations are still going strong and united.</p> <div> </div> <div> <strong>Current Involvement </strong></div> <div> </div> <div> <img alt="" src="/userfiles/images/dgr3.jpg" style="float: right; width: 325px; height: 153px;" /></div> <div> TM Dugar Group has specialised in manufacturing of food grains such as rice, lentils and vegetable oils. It was the TM Dugar Group that set up modern rice mills in Dhangadhi in far-western Nepal and contributed in creating and expanding the market for agro products. Today, the group has a wide array of investments in banking, hydropower, automobiles, agro solutions, life insurance, FMCG products, agro based industries and automobiles, among others. The group is a major promoter of Sunrise Bank Ltd. and Gurans Life Insurance Co Ltd.--two public limited companies in the financial sector. The group stepped into the service industry through banking and insurance about seven years ago. </div> <div> </div> <div> The automobiles trading wing of the group imports and sells vehicles of the Japanese brand Nissan, buses and trucks from the Indian company Mahindra, motorcycles from Royal Enfield and tractors from John Deere. Similarly, Frooti and Appy are two soft drink brands that are produced by the TM Dugar Group in Nepal. In the days to come, the group plans to concentrate on the service <span style="font-size: 12px;">sector. Banking, life insurance and hydropower are some of the areas of its interest, although there are hints that the group will gradually be working under the model of public limited company. “Slowly we will go into the public limited model of doing business. Old businesses will continue as they are and the new ventures will be under this new model. Sunrise Bank and Gurans Life Insurance are public limited companies whereas the hydropower companies will also go public once they enter the construction phase,” Dugar says. </span></div> <div> </div> <div> <strong><img alt="Dugar Food and Beverage" src="/userfiles/images/dgr4.jpg" style="width: 500px; height: 380px; margin: 5px 25px;" /></strong></div> <div> <div> <strong>Management Style </strong></div> <div> </div> <div> The group has provided employment to more than 600 people in its various companies. However, Dugar says that the group’s latest strategy of business constriction allows no new employees to be hired. Though the company does not have layoff plans, vacancies are not being announced after employees resign. Human resource management is done professionally through a separate team at the TM Dugar Group. </div> <div> When it comes to making decisions, professionals and managers are given the right to make decisions on administrative and daily procedures. However, financial matters are left to the board to decide. </div> <div> Staying cautious in a ‘wait and watch mode’, the group does not have any plans other than venturing into hydropower generation. The group has its hopes pinned on this sector and it is a matter of time before it will begin developing power plants and find itself once again in expansion mode.</div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <strong><span style="font-size:14px;">AT A GLANCE</span></strong></div> <div> </div> <div> <strong>Financial Services</strong></div> <div> </div> <div> After trading and manufacturing, the TM Dugar Group ventured into the financial service sector. The first move into this sector was with Sunrise Bank Limited, an A class financial institution, in association with other business houses of Nepal. The bank has a paid-up capital of Rs 2.015 billion and authorised capital of Rs 5 billion. <span style="font-size: 12px;">Similarly, the next venture was in the life insurance business, which is believed to hold tremendous potentials. So, Gurans Life Insurance Company was established in 2008, six months after the Sunrise Bank, where the group is one of the major promoters. The company has a total authorised capital of Rs 500 million, out of which issued and paid-up capital accounts to Rs 360 million. Out of the total issued capital, 30 per cent has been allotted to the public through IPO and 70 per cent remains with the promoters. There are more than 26,000 shareholders in the company.</span></div> <div> <span style="font-size: 12px;"> </span></div> <div> <strong>Working Area </strong></div> <div> </div> <div> • Banking </div> <div> • Hydropower </div> <div> • Automobiles </div> <div> • Agro Solutions </div> <div> • Life Insurance </div> <div> • FMCG Products </div> <div> • Agro Based Industries</div> <div> </div> <div> <strong>Food Grains </strong></div> <div> </div> <div> The TM Dugar Group is an authorised supplier for the World Food Program (WFP), supplying food grains as per WFP standards for more than a decade. The TM Dugar Group also exports Nepali lentils to Bangladesh, India and other parts of the world. The group’s agro processing plants are situated in Birgunj, Nepalgunj and Dhangadhi. </div> <div> </div> <div> <strong>Corporate Social Responsibilities </strong></div> <div> </div> <div> The group has been regularly involved in various social causes since its establishment. There are two charitable trusts - Tolaram Malchand Dugar Charitable Trust and Motilal Vivek Dugar Charitable Trust - that support people by providing food, clothes, education, scholarships, medicines and surgery expenses. Some of the CSR activities the group has conducted thus far are:<span style="font-size: 12px;"> </span></div> <div> • Contribution to the construction of a wing in Nandi Madhyamik Vidyalaya, Naxal, Kathmandu. </div> <div> • Contribution to the construction of Bhagawan Mahavir Jain Niketan, Kathmandu </div> <div> • Contribution to the construction of Bhagawan Mahavir Jain Niketan, Birgunj </div> <div> • Contribution to the construction of Aditi Sadan, Biratnagar </div> <div> • Contribution to the construction of Jain Swetamber Terapanthi Sabha, Birgunj </div> <div> • Contribution to the construction of Jain Swetamber Terapanthi Sabha, Biratnagar </div> <div> • Construction of Tolaram Bhanwari Devi Chikitsalaya and Research Center, Biratnagar </div> <div> • Construction of schools, temples, homeopathic clinics and college buildings.</div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'T M Dugar Group of companies has a legacy of almost 140 years in Nepal. It was established by the first generation of businesspersons in the Dugar family and has carved a niche and a strong brand image for itself.', 'sortorder' => '1265', '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' => '1402', 'article_category_id' => '160', 'title' => 'Corptoon Issue 22', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" src="/userfiles/images/CORPTOON1A.jpg" style="width: 550px; height: 593px; margin: 5px 25px;" /></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' => 'Corptoon Issue 22', 'sortorder' => '1264', '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' => '1401', 'article_category_id' => '91', 'title' => 'About 511billion Budget For FY 2013-14', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div> <div> </div> <div> Ministry of Finance has prepared a government budget of about Rs 511 billion for FY 2013-1. The ordinances related to budget proposals had reached the President Office for approval when this matter was sent to the press. It was to be announced after getting the Presidential approval.</div> <div> </div> <div> The budget being announced today has no major new programme. However, it is regarded as better than that of several previous years as it is a ‘full budget’ while in the previous years there were truncated budgets. The last full-fledged budget was announced on FY 2011-12. The budget for 2013-14 has mainly focused on the so called ‘national pride projects’ and poverty alleviation programmes. </div> <div> </div> <div> The 2013-14 budget has also made provisions for the up-coming constitutional assembly elections. So, a huge portion of budget is being allocated for the security and increment of salary of the government employees. The size of the budget has increased due to the demand of increment of salary of government employees, stated a source.</div> <div> </div> <div> Similarly, the budget is also focused on energy, infrastructure development, agriculture and trade promotion.</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' => 'Ministry of Finance has prepared a government budget of about Rs 511 billion for FY 2013-1.', 'sortorder' => '1263', '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' => '1400', 'article_category_id' => '91', 'title' => 'Govt Fails To Keep Economy On Track', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div> <div> </div> <div> The failure of the government to meet targeted economic growth rate paved a way for its setback. The Economic Survey 2012 made public by Finance Ministry this week shows that the government’s target of achieving 5.5 per cent economic growth in 2012-13 slipped by nearly 2 percent age points limiting at 3.6 per cent.</div> <div> </div> <div> In the first 11 months of current fiscal year, the national economy suffered from near double-digit inflation and ballooning trade deficit along with the low economic growth, the survey said. National economy has expanded to Rs 1,701 billion and per capita income of Nepalis edged up to Rs 62,797 from the Rs 58,274 recorded last year.</div> <div> </div> <div> However, per capita income in dollar terms reduced to US $721 from US$742 of last year. The government also failed to contain inflation at 7.5 per cent as predicted. Imbalance in supplies due to an almost double-digit decline in key farm products jacked up inflation to 8.2 per cent by mid-June this year, according to the survey.</div> <div> </div> <div> Skyrocketing trade deficit, which touched Rs 438.67 billion during the first 11 months of the current fiscal year, according to Nepal Rastra Bank data, has been identified as another challenge in the economy. Revenue mobilization however reached Rs 280 billion as of July 10 this year, which is close to the target of Rs 289 billion.</div> <div> </div> <div> The government also failed to expedite capital expenditure in the fiscal year 2012-13. Though the government announced a budget of Rs 404.82 billion for the current fiscal year, only Rs 317 billion was spent by July 10, according to the survey. The amount excludes expenditure in 15 districts where the Treasury Single Account (TSA) system has not been implemented so far.</div> <div> </div> <div> However, the balance of payments surplus of Rs 52.69 billion, a 21.3 percent rise in remittance inflow to touch Rs 388.46 billion and record high foreign exchange reserves worth Rs 511.69 billion at the end of the current fiscal year have brought cheer among officials.</div> <div> The Economic Survey also shows that the share of consumption in the Gross Domestic Product (GDP) increased to 90.7 percent this year from 87.3 percent recorded last year.</div> <div> </div> <div> During the first eight months of the current fiscal year, the government added 1,987 km transmission lines, 128 km black-topped roads, 169 km gravel roads and 194 km earth roads despite the low spending capacity of the government due to late announcement of a full budget.</div> <div> </div> <div> <strong> Whopping Trade Deficit</strong></div> <div> </div> <div> Nepal racked up more than Rs 441.33 billion in trade deficits in the first 11 months of current fiscal year, according to the Current Macroeconomic Situation of Nepal (Based on Eleven Months’ Data of 2012-13) released by Nepal Rastra Bank (NRB).</div> <div> </div> <div> In the first 11 months of fiscal year 2012-13, merchandise imports surged by 21.2 percent to Rs 508.60 billion. Such imports had risen by 16.8 percent to Rs. 419.57 billion during the corresponding period of the previous year. Total imports surged in the review period due mainly to the rapid increase in imports from India.</div> <div> However, exports had increased by only 6.3 percent to Rs 67.21 billion during the same period of the previous year. The growth of total export remained low in the review period due to the slowdown in exports to both India and other countries, according to the report of NRB.</div> <div> </div> <div> <img alt="Overall Economic Indicators of FY 2012-13" src="/userfiles/images/overall.jpg" style="width: 500px; height: 267px; margin: 10px 25px;" /></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' => 'The failure of the government to meet targeted economic growth rate paved a way for its setback.', 'sortorder' => '1262', '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' => '1399', 'article_category_id' => '34', 'title' => 'Etihad Airways Posts Record Results For Second Quarter And First Half Of 2013', 'sub_title' => '', 'summary' => null, 'content' => '<p> Etihad Airways announced its strongest second quarter and half-year financial performances on record, reflecting continued solid growth in its airline alliance strategy and global cargo operations. The national carrier of the United Arab Emirates achieved an eight per cent increase in Q2 2013 passenger revenues, generating US $921 million (2012: US $855 million), while passenger revenues for the first half of 2013 reached US $1.8 billion (2012: $1.6 billion), up by 13 per cent. <br /> <br /> Revenue generated by codeshare and equity alliance airline partners was US $184 million in Q2 2013. This was 25 per cent above the US $147 million turnover in the same period of 2012. Partnership revenue comprised 20 per cent of the airline’s total passenger revenue in both Q2 and the first half of 2013. The President and Chief Executive Officer of Etihad Airways, James Hogan, said the company’s Q2 and half year results were achieved despite the continuation of unsteady economic and geopolitical factors, with air fare yields slightly lower for the quarter, compressed by strong competitive capacity growth and resultant price competition.<br /> <br /> “Despite the tough global trading climate, we have still achieved record, double digit growth in both Q2 and the first half of 2013,” Hogan said. Etihad Cargo continued to achieve the strongest growth in the company, with 112,963tons uplifted in Q2 2013 (2012: 89,470 tons) and 215,124 tons in the first half of 2013 (2012: 174,622 tons). This reflected a massive 26 per cent growth in Q2 and 23 per cent growth for the first half of 2013. <br /> <br /> The growth in cargo volumes was underpinned by the delivery in Q2 of three new freighter aircraft – one Airbus A330-200F, one Boeing 777-200F and the company’s first Boeing 747-8F, which was wet leased from Atlas Air – taking the cargo fleet to nine. Cargo performance was further boosted by increased passenger services, providing more under-floor freight capacity.<br /> </p>', 'published' => true, 'created' => '2013-07-10', 'modified' => '2013-07-15', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Etihad Airways announced its strongest second quarter and half-year financial performances on record, reflecting continued solid growth in its airline alliance strategy and global cargo operations. The national carrier of the United Arab Emirates achieved an eight per cent increase in Q2 2013 passenger revenues, generating US $921 million (2012: US $855 million), while passenger revenues for the first half of 2013 reached US $1.8 billion (2012: $1.6 billion), up by 13 per cent.', 'sortorder' => '1261', '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' => '1413', 'article_category_id' => '183', 'title' => 'Gateway To Shangri-La', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Gaurav Aryal</strong><br /> <br /> Nepal conceals abundant travel and adventure prospects amid the blue mountains and snowy white peaks. The Annapurna Dhaulagiri Community Trail Trek is one of the newer trekking routes that take travellers to the Himalayan Shangri-La. It is a part of the Great Himalaya Trail. A seven to 10 days long trek to the southern flank of the Annapurna and Dhaulagiri region offers the taste of Nepal that is away from Nepali image, tourists are usually known to.<br /> <br /> The trail passing through the Magar communities definitely offers the panoramic views of the majestic mountains and pristine wilderness. In addition, it is also a route to experience the exotic culture and livelihoods of Magar people in the surrounding villages. Community lodges and home stay have not only offered tourists to get a peaceful rest but is also an opportunity to understand the local culture and life style. Trekking in this route is a destination for responsible tourism where the benefits directly go to the local people.<br /> <br /> Tourism facilities have become an attractive source of income for local people. Nangi village, also known for the wireless project initiated by Ramon Magsaysay Award winner Mahabir Pun, is making a turnover of around Rs 1.4 million annually since the opening of trail. Community lodges are available at Banskharka, Nangi, Mohare, Dandakharka, Swanta and Khopra. Similarly, home stay is available at Tikot, Paudwar and Narchyang. Most of the stops in this route offer Wi-Fi Internet and telephone services.<br /> The community and ecotourism trekking route is classified as moderately difficult one. Trekking begins from Galeshwor of Myagdi and stops at Tatopani at the bank of Kaligandaki River or those looking for more thrill can also chose to go to Khair Lake and Annapurna Base Camp.<br /> <br /> Mohare (3320m) and Khopra (3660m), two highest points in the trail promise a panoramic view of the Annapurna and Dhaulagiri mountain range and are ideal for watching sunrise and sunset. The trail passing through the rhododendron forests would entice visitors during the spring season when these flowers bloom with full glory. Similarly, Annapurna and Dhaulagiri’s jaw dropping views never leave the traveller alone.The peak season for trekking in this route is from autumn to early winter and from early spring to summer. Although the spring condition may be mild in the lower hills but the highest points Mohare and Khopra may still be icy cold.<br /> <br /> The trail was opened up with a purpose to enhance the local community’s life style with the support of UNDP Micro Enterprise Development Programme (UNDP-MEDEP), Nepal Tourism Board (NTB) and Trekking Agencies’ Association of Nepal (TAAN).<br /> <br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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 conceals abundant travel and adventure prospects amid the blue mountains and snowy white peaks. The Annapurna Dhaulagiri Community Trail Trek is one of the newer trekking routes that take travellers to the Himalayan Shangri-La. It is a part of the Great Himalaya Trail. A seven to 10 days long trek to the southern flank of the Annapurna and Dhaulagiri region offers the taste of Nepal that is away from Nepali image, tourists are usually known to.', 'sortorder' => '1275', 'image' => '1373889087.jpg', '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' => '1412', 'article_category_id' => '157', 'title' => 'Cafe Horizon’s Wide Horizons', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Sujan Tiwari</strong><br /> <br /> <br /> I f you are tired of dining within the confinement of restaurant walls and want to breathe in fresh air as you eat, Café Horizon at Hotel Himalaya could be the perfect choice for you. Café Horizon serves as the main dining of the Hotel, and is popular among the in-house guests as well as guests from outside.The café begins from the lobby of the Hotel, and expands to the outside garden and continues up to the pool. There are numerous seating options to suit every mood. Whether you want a quick lunch, a lavish dinner or a peaceful time with your loved one, Café Horizon can cater to it all. The best place to seat, however, is the outside garden. One can relax in the lush garden and enjoy the view here.<br /> <br /> On a clear day, the garden offers the magnificent view of the Himalaya. It is probably one of the best views from any restaurant in Kathmandu. “As the Café is seen as soon as you enter the hotel, we consider it to be the focal point of our Hotel,” says Rabindra Tandukar, Executive Manager at Hotel Himalaya. The Café opens at 6 in the morning, and serves breakfast, dinner and everything in between before closing at 10 pm.<br /> <br /> The Café is a multi-cuisine one and Continental and Oriental dishes are the specialty here. Kamal S Rana, the Executive Chef of the Hotel has an experience of almost four decades, and specializes in Continental and Indian cuisine. The Cafe boasts of numerous Continental and oriental starters and mains. Insalata Caesar is one of the popular starters here, classic Caesar salad with croutons, and option of cheese, chicken or prawn, with traditional flavoured garlic essence.<br /> <br /> Another option could be grilled baby prawn salad. For the salad, prawn is marinated in garlic and lemon juice, pan grilled and is served with leafy veggies and garlic croutons. Herb Fried Prawn is what Chef Rana recommends. For the dish, prawns marinated in Himalayan spices is fried and served with onion rings and a ranch dip. Soup lovers can enjoy tom yum, minestrone and French onion soup among other varieties.<br /> <br /> The menu offers a lot of options for main courses as well. One of the best selling Continental main courses is Grilled Salmon Steak. It comes with pan baked Norwegian Salmon served with baked potatoes, veggies and risotto topped with lemon and herb sauce. Another Continental main is Mixed Grill on Sizzler that comes with tenderloin, hot dogs, chicken and potato with green pepper corn sauce. Ayam Masak Merah is an Oriental main. For the dish, veg noodles or fried rice is served with a spicy tomato based chicken curry cooked in Malaysian style. Hyderabadi biryani, Madras fish curry and tandoori murg are some of the Indian mains served at the Cafe.<br /> <br /> For quick lunch, the Cafe has assorted burgers and sandwiches. French Connection, a tenderloin sandwich in baguette is one of the popular sandwiches here. Those sticking with Nepali food can savour Nepali meal named Himalayan Thali. It is traditional Nepali meal served with choice of meat or veg, and is accompanied by dessert. Tiramisu, apple pie and fresh fruit platter are some of the served desserts.<br /> <br /> Going into beverages, the Cafe serves everything, from signature and classic cocktails to aperitifs, champagne, cognac and chilled beers. Himalayan refresher, a drink with gin, vodka, rum, soda, sugar syrup and lemon juice is one of the signature cocktails of the Cafe.<br /> <br /> The menu of the Cafe is changed every one and a half years, and the popular ones are continued and new dishes are added. “We continuously strive to offer our guests the best dining experience. We consider their feedback as well when we change the menu,” says Tandukar. A classy and peaceful ambience along with assorted multi-cuisine delicacies what Cafe Horizon is all about. Make it your next dining destination and you won’t leave unsatisfied.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'I f you are tired of dining within the confinement of restaurant walls and want to breathe in fresh air as you eat, Café Horizon at Hotel Himalaya could be the perfect choice for you. Café Horizon serves as the main dining of the Hotel, and is popular among the in-house guests as well as guests from outside.The café begins from the lobby of the Hotel, and expands to the outside garden and continues up to the pool. There are numerous seating options to suit every mood. Whether you want a quick lunch, a lavish dinner or a peaceful time with your loved one, Café Horizon can cater to it all. The best place to seat, however, is the outside garden. One can relax in the lush garden and enjoy the view here.', 'sortorder' => '1274', 'image' => '1373888635.jpg', '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' => '1411', 'article_category_id' => '161', 'title' => '‘Local Currency Funds Are Important For Private Sector Development’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Karin Finkelston,International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific." src="/userfiles/images/4a.jpg" style="float: right; margin: 0px 10px 0px 0px; width: 225px; height: 265px;" /></div> <div> <span style="font-size:14px;">Karin Finkelston is International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific. Her responsibilities include overseeing IFC’s investment and advisory programmes as well as maintaining relationships with key government and private sector partners in the region. Recently, she visited Nepal and spoke to Siromani Dhungana of The Corporate. <strong>Excerpt: </strong></span></div> <div> </div> <div> <strong>What is IFC’s overall strategy in South Asia? </strong></div> <div> </div> <div> South Asia is where the world’s poorest live in large numbers. Our mission is to create opportunity where needs are greatest and most relevant in this region. With many countries in the region facing development challenges and severe climate change impact amid political transition, this is a defining moment to make meaningful intervention. </div> <div> </div> <div> To meet these challenges, IFC’s strategy for South Asia is three-pronged: </div> <ul> <li> Achieving inclusive growth, including support for frontier regions through increased access to infrastructure; </li> <li> Addressing climate change impact through adaptation and mitigation measures; and </li> <li> Promoting regional and global integration including South- South investments and trade finance. </li> </ul> <div> </div> <div> <strong>As Asia Vice President for IFC, how do you think IFC can help countries like Nepal in their development agenda?</strong></div> <div> </div> <div> In my role as VP for Asia, I see the similarities and differences in context and also the potentials – picking up lessons and learning from other countries is invaluable. Nepal, for example, needs to meet the most important aspects of providing electricity to its people and industry and jobs to its youth. Nepal’s immense hydropower potential positions it well to respond to these needs. </div> <div> </div> <div> <strong>The needs in infrastructure, especially in energy can be met by harnessing the country’s hydro potential. What are IFC’s plans in this regard? </strong></div> <div> </div> <div> Nepal’s hydropower potential of about 84,000 MW is enough to meet about 3 percent of the global demand for power if the potential is fully realized. So far only about 686 MW is developed whereas the total installed capacity is 740 MW. The International Bank for Reconstruction and Development (IBRD), IFC and the Multilateral Investment Guarantee Agency (MIGA) are planning to collaborate on developing Nepal’s hydropower potential. IFC has supported hydropower projects in Nepal in the past as well. Two years back, we invested in a run-of-river hydropower project with Butwal Power Company. IFC’s financing is helping to renovate and upgrade the power plant, including the replacement of 100- year old turbines with modern and efficient technology. The plant’s output is expected to increase by 50 percent. </div> <div> </div> <div> <strong>How have you supported the private sector in other areas and businesses? </strong></div> <div> </div> <div> IFC’s strategic agenda in Nepal includes priority sectors of infrastructure, finance, including access to finance for SMEs and women entrepreneurs, tourism and agribusiness. With the corporation’s growing investments and advisory assistance, IFC is set to play a key role in Nepal. IFC is also working on a payment reform project and an advisory team is making important progress by building partnerships between the government and private sector through the Nepal Business Forum. We are now working with the private sector to promote improved agricultural and water management practices and introducing new technologies among small farmers producing rice, maize and sugarcane to adapt to climate change. </div> <div> </div> <div> <strong>IFC has been planning to issue local currency bond in Nepal. Could you please highlight the logic behind this?</strong></div> <div> </div> <div> A strong capital market helps the private sector to efficiently finance their operations, depending on the risk of the capital, instead of worrying about foreign exchange facilities. IFC supports local capital markets by issuing local currency bonds, often paving the way for other issuers. We also provide local currency finance to meet the needs of the private sector in many countries. Our projects require local currency financing as well. </div> <div> </div> <div> <strong>What do you have to say to the Nepali private sector that is focusing more on the problems of getting foreign capital than on local currency funds? </strong></div> <div> </div> <div> Developing local currency funds is an important element of private sector development. They help create access to long-term financing for large infrastructure projects and for small and medium enterprises- -the key drivers of jobs and growth. However, availability of strong local currency funds requires a conducive regulatory framework, a market and infrastructure. </div> <div> </div> <div> <strong>There is a big chunk of work IFC is leading on the advisory side--around reform. How do you think this work can help the private sector in Nepal? </strong></div> <div> </div> <div> IFC, through the South Asia Enterprise Development Facility, has been supporting the Nepal government’s efforts to focus on growing the country’s economy through improving the business environment, supporting sustainable business growth, and creating jobs. Our reform programmes in Nepal are aimed at making it easier to do business by reducing barriers to new business registration and streamlining the administration of taxes. We also help facilitate public-private dialogue to ensure that business reforms made by the government match private sector needs besides promoting private investments in Nepal.</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' => 'Karin Finkelston is International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific.', 'sortorder' => '1273', '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' => '1410', 'article_category_id' => '159', 'title' => 'Exercise Relieves Tension', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Om Prakash Sharma<br /> Director, Mahabir Automobiles</strong><br /> <br /> <br /> <br /> <br /> <strong>By Shruti Sonthalia</strong><br /> <br /> “After eight hours long work an entrepreneur should exercise”, believes the Director of Mahabir Automobiles, Om Prakash Sharma. This is how he spends his spare time. He goes to the Radisson Health Club to carry out his fitness activity. Sharma says exercising helps to reduce the mental fatigue and makes him fresh for the next day. The health club is a place to relax and unwind the day’s pressure.<br /> <br /> Sharma makes use of the fitness equipments in the club to work out. He also adds that the physical exercise makes one focused and far-sighted. Very rightly the entrepreneur chooses to exercise as his leisure time activity, because it increases the efficiency of a person. Not only that it also helps to inculcate various moral values in oneself like, patience, willpower and others necessary to be a successful management personnel. He adds, “It energizes and makes the work joyful, an ideal way to stay fit.”<br /> <br /> Being an physical exercise enthusiast Sharma loves sports. He plays cricket sometimes, which he wants to do regularly, but his busy schedule does not allow him. Apart from fitness activities he also spends some time with his family. He loves travelling and often goes for long-drive in his “own SUV”, as he points out.<br /> <br /> Sharma likes facing challenges, to which he cites an incident moment. Few months back he visited Pokhara and wanted to go for paragliding. He opted for that for the thrill. Initially, he was a little scared but finally answered the call of his heart by completing the exciting venture. This quality of determination helps him in his workplace in terms of decision making. “This combination of enthusiasm, sportsmanship and risk-taking makes me what I am,” he adds.<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' => '“After eight hours long work an entrepreneur should exercise”, believes the Director of Mahabir Automobiles, Om Prakash Sharma. This is how he spends his spare time. He goes to the Radisson Health Club to carry out his fitness activity. Sharma says exercising helps to reduce the mental fatigue and makes him fresh for the next day. The health club is a place to relax and unwind the day’s pressure.', 'sortorder' => '1272', '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' => '1409', 'article_category_id' => '158', 'title' => 'Ford EcoSport: A True Sport', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> <br /> <br /> GO Ford launched Ecosport last week, a new SUV in the market that it claims to have compelling value-for-money proposition. According to the company, Ecosport will be a game changer in the SUV segment, and will also take on other segments like sedan and premium hatchbacks.<br /> <br /> Ecosport’s design is quite extraordinary and compels you to take a second look. The most amazing part of its design may be the aggressive looking front grille and the stylish headlights. The overall build of the SUV looks quite sporty and aerodynamic. Styling definitely is one of the plus points of Ecosport.<br /> <br /> On the inside, there are some amazing features too. Ecosport’s compact sub-four metre dimensions and the electric power-assisted steering with Pull-Drift Compensation help drivers park in tight spaces, manoeuvre in heavy traffic and make tight U-turns. Also, Ecosport is the first in its class to offer Ford SYNC, the voice-activated in-car connectivity that enables drivers to choose music, make calls without taking their hands off the steering.<br /> <br /> Another amazing thing about Ecosport is that it is available in 10 variants across four trims, three engine options and seven colours, with the option of manual and automatic transmission as well. The 1.0 litre Ecosport is powered by Ford’s patented 1.0-litre EcoBoost engine. The engine delivers a maximum power of 125 ps and peak torque of 170 Nm at 1400- 4500 rpm. Other engine options are 1.5L TDCi and 1.5L Ti-VCT.<br /> <br /> For safety, Ecosport has features like Hill Launch Assist in petrol automatic variant and ESP in models with automatic transmission. Ecosport also offers airbags for the driver and front passenger, as well as side airbags and curtain airbags, depending on the variant. Ford EcoSport is launched at an entry-level pricing of Rs 28,50,000.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'GO Ford launched Ecosport last week, a new SUV in the market that it claims to have compelling value-for-money proposition. According to the company, Ecosport will be a game changer in the SUV segment, and will also take on other segments like sedan and premium hatchbacks.', 'sortorder' => '1271', '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' => '1408', 'article_category_id' => '137', 'title' => 'World Unprepared For Urban Boom', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> In a world of more than nine billion people by 2050, most of the 6.5 billion urban dwellers will be living in developing countries, says the World Economic and Social Survey 2013, emphasising that new strategies are needed to address the impacts of rapid urbanisation around the world, including increasing demands for energy, water, sanitation, public services, education and health. </div> <div> </div> <div> According to the survey published by the UN Department for Economic and Social Affairs last week, more than 6.25 billion people will be living in cities by 2050. Within the time period of 2000-2050, developing regions could add 3.2 billion new urbanites, a figure larger than the entire world’s population in 1950. The survey found that the vision of sustainable development — promoting economic and social wellbeing while protecting the environment — has not been achieved, despite encouraging progress. Rising inequality and shortfalls in development partnership, rapid population growth, climate change and environmental degradation have hampered efforts. </div> <div> </div> <div> Damage to the global environment is reaching critical levels and threatens to lead to irreversible changes in global ecosystems, the survey said. The overarching environmental damage is anthropogenic, with humans releasing increased concentrations of greenhouse gases in the atmosphere, which is leading to global warming. If no policy framework is established to address this issue, the survey states, the number of people living in slums lacking access to basic infrastructure and services such as water, sanitation, electricity, health care and education might triple from 1 billion at present to 3 billion by 2050. </div> <div> </div> <div> The survey states that sustainable development of urban areas requires integration, coordination, and investments to tackle issues of land-use, food security, job creation, building new roads, biodiversity conservation, water conservation, renewable energy sourcing, waste and recycling management, and the provision of education, health care and housing. The survey calls for ambitious, action-oriented sustainable development strategies to address the different levels of urban development that are adaptable to different contexts. </div> <div> </div> <div> Estimates indicate that food production will have to increase 70 percent globally to feed an additional 2.3 billion people by 2050. The survey emphasises that economic and financial incentives to create and adopt new technologies will require policy reforms including taxes and subsidies, as well as regulatory reforms. (Agency)</div> <table border="0" cellpadding="20" width="99%"> <tbody> <tr> <td bgcolor="#FFFFFF"> <div> <span style="font-size:14px;"><strong>‘Nepal’s push for urbanization is poorly managed’</strong></span></div> <div> </div> <div> Nepal, once viewed as least urbanised country in South Asia, is witnessing a rapid pace of urbanisation. Population increase and migration are considered as significant factors in the growth of cities across the country. Rise in infrastructure development and increased economic opportunities too are fuelling the push for urbanisation. According to government data , Nepal’s urban population grew at 4.45 percent in 2012 compared to the previous year. Some 20 percent of Nepal’s population is currently living in urban areas. The contribution of urban areas to the gross domestic product (GDP) is assumed to be 65 percent. Urban areas in Nepal spread across 3,276 km square of the total area. A report published by The World Bank last year marked Nepal as the fastest urbanising nation in South Asia. </div> <div> </div> <div> However, poorly managed urbanisation in Nepal is ringing alarm bells as many problems have emerged. Particularly, the growth of cities is associated with rise in unemployment, inadequate health service, poor sanitation, urban slums, environmental degradation and crime. The World Bank last year warned that unless the government seriously manages urbanisation better, the country could fail to attain economic efficiency from the process. In March 2013, the bank also published another report entitled ‘Urban Growth and Spatial Transition: An Initial Assessment’ which warns about the consequences of unmanaged urbanisation in Nepal. ‘Nepal’s urban centres, particularly the Kathmandu Valley, are already facing serious challenges due to multiple factors such as inadequate infrastructure, haphazard planning and poor business environment,’ states the report. The report strongly advocates for the government to prioritise on investment in infrastructure, connect cities internally and externally and make growth inclusive in order to foster the growth and sustainability of urban area</div> <div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'In a world of more than nine billion people by 2050, most of the 6.5 billion urban dwellers will be living in developing countries, says the World Economic and Social Survey 2013', 'sortorder' => '1270', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '1407', 'article_category_id' => '115', 'title' => 'Tech Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>India to Intercept Blackberry Chat</strong><br /> <br /> Blackberry is ready to provide the Indian authorities with a way to intercept consumers’ messages sent and received on its platform. The news was revealed by the Times of India, which published part of a leaked government document. This would bring an end to a long-running dispute between the two sides. In 2010 the country had threatened to impose a ban on Blackberry devices, saying its secret services needed to be able to access suspects’ messages in order to prevent terrorist attacks. (BBC)<br /> <br /> <br /> <img alt="mobile" src="/userfiles/images/tmobile.jpg" style="margin: 10px;" /><br /> <br /> <br /> <strong>T-Mobile Lets Customers Upgrade Phones Twice a Year</strong><br /> <br /> T-Mobile is making a bid to become the wireless world’s “un-carrier,” rolling out a plan that will let users update their phones up to twice a year for a modest fee. That’s a sharp departure from the traditional model for wireless companies, which usually requires customers to complete a two-year contract before they can get a new smartphone at the discounted rate that makes them affordable. (CNN)<br /> <br /> <br /> <img alt="microsoft" src="/userfiles/images/microsoft.jpg" style="width: 211px; height: 204px; margin: 10px;" /><br /> <br /> <br /> <strong>Microsoft Shakes Up Management Again</strong><br /> <br /> Microsoft has once again reorganized its management structure, marking yet another strategy shift for a company that has a very mixed track record in restructuring its business operations. The shakeup, which Microsoft (MSFT, Fortune 500) announced Thursday, is intended to better align the company’s organizational structure with its new corporate strategy. CEO Steve Ballmer declared in October 2012 that Microsoft would transition to a “devices and services” company, focusing on making hardware, online services and apps that work together seamlessly across multiple screens and gadgets. (CNN)<br /> <br /> <br /> <br /> <img alt="space" src="/userfiles/images/space.jpg" style="margin: 10px;" /><br /> <strong>Space Probe Sees Solar System’s Tail</strong><br /> <br /> Thanks to solar wind blowing out from the sun in all directions at a million miles per hour, material from comets gets whipped back into a formation that looks like a tail. Now, scientists know that our solar system has a tail of its own, with a surprising shape. NASA researchers working with data from the Interstellar Boundary Explorer announced Wednesday they have for the first time mapped the solar system’s tail, called the heliotail. Their study is published in the Astrophysical Journal. (CNN)<br /> <br /> <br /> <br /> <br /> <strong><img alt="solarpanel" src="/userfiles/images/solarpanel.jpg" style="margin: 10px;" /><br /> Solar Plane Lands in New York, Completing US Journey</strong><br /> <br /> An airplane entirely powered by the sun touched down in New York City late on Saturday, completing the final leg of an epic journey across the United States that began over two months ago.The Solar Impulse, its four propellers driven by energy collected from 12,000 solar cells in its wings to charge batteries for night use, landed at John F. Kennedy Airport at 11:09 p.m. EDT, organizers said. (Reuters)<br /> <br /> <br /> <img alt="feds" src="/userfiles/images/feds(1).jpg" style="margin: 10px; width: 276px; height: 207px;" /><br /> <br /> <strong>Feds Asked to Avoid Def Con Hacker Meeting</strong><br /> <br /> Federal agents have been asked to stay away from one of the world’s biggest hacker gatherings. Revelations about the scale of US government spying meant emotions in the hacking world were “running high”, said organisers of the Def Con convention. As a result, federal agents should take a “timeout” from Def Con this year. The main Def Con event takes place in Las Vegas from 1 August and will see 15,000 hackers’ debate security topics and demonstrate their coding prowess. (BBC)<br /> <br /> <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' => 'Blackberry is ready to provide the Indian authorities with a way to intercept consumers’ messages sent and received on its platform. The news was revealed by the Times of India, which published part of a leaked government document. This would bring an end to a long-running dispute between the two sides. In 2010 the country had threatened to impose a ban on Blackberry devices, saying its secret services needed to be able to access suspects’ messages in order to prevent terrorist attacks. (BBC)', 'sortorder' => '1269', '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' => '1406', 'article_category_id' => '150', 'title' => 'Business Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>JCB’s Operator Meet</strong><br /> <br /> MAW Enterprises Pvt Ltd JCB Division, the sole distributor of JCB construction and heavy equipment organized an Operator Meet in Kathmandu. The Meet was attended by 49 operators. Operators were educated about operating machine safely and keeping it to increase the life of machine in the Meet. The operators were also offered free health checkup in the Meet.<br /> <br /> <br /> <img alt="samsung" src="/userfiles/images/samsung.jpg" style="width: 346px; height: 153px; margin: 10px;" /><br /> <br /> <strong>Samsung’s ‘Din Saat, Dhamaka Saath’ Scheme</strong><br /> <br /> Samsung launched a week-long scheme named ‘Din Saat, Dhamaka Saath’ that ended on 13 July 2013. With this scheme, customers received a free camera on the purchase of certain models of LED TVs. Also, the customers were offered discounts on the purchase of various models of LED TVs. The scheme received overwhelming response from customers and dealers, says a press release.<br /> <br /> <br /> <img alt="ncell" src="/userfiles/images/Ncell.jpg" style="width: 248px; height: 94px; margin: 10px;" /><br /> <br /> <strong>Ncell to Gift Galaxy S4 to 5 Customers Everyday</strong><br /> <br /> Ncell has launched a new scheme ‘Recharge and Win Phone’ under which five customers can win Samsung Galaxy S4 every day. Ncell customers topping up the balance with Rs 100 or more will be automatically registered for the lucky draw. The five winners will be decided through a lucky draw that will be held daily. The scheme started on 10 July and will last till a month. The scheme is open for all Ncell customers, including pre-paid and post-paid subscribers. All recharges done through recharge card, VFT and banks will be valid for registering the customers for the lucky draw.<br /> <br /> <br /> <img alt="royal" src="/userfiles/images/royal.jpg" style="margin: 10px;" /><br /> <br /> <strong>Royal Footwear’s Showroom in Dhangadhi</strong><br /> <br /> Royal Footwear Industry Pvt Ltd has opened its third showroom in Park Chowk of Dhangadhi. The company has been manufacturing casual, party, sports and school shoes along with sandals. The company provides a warranty of six months in all its products, and will open more showrooms in different parts of the country in near future, says a press release.<br /> <br /> <br /> <img alt="rajeshamal" src="/userfiles/images/rajeshhamal.jpg" style="width: 462px; height: 253px; border-width: 1px; border-style: solid; margin: 10px;" /><br /> <br /> <strong>Suzuki Motorcycles’ Showroom at Thapathali</strong><br /> <br /> Ganesh Enterprises Pvt Ltd has opened a new showroom pf Suzuki motorcycles at Thapathali. The showroom was jointly inaugurated by celebrities Rajesh Hamal and Komal Oli. On the same occasion, the company also launched Inazuma Gw, a 250cc motorbike.<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' => 'MAW Enterprises Pvt Ltd JCB Division, the sole distributor of JCB construction and heavy equipment organized an Operator Meet in Kathmandu. The Meet was attended by 49 operators. Operators were educated about operating machine safely and keeping it to increase the life of machine in the Meet. The operators were also offered free health checkup in the Meet.', 'sortorder' => '1268', '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' => '1405', 'article_category_id' => '134', 'title' => '‘We Are Soft Now, Shall Be Strict Soon’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;">Jiwan Prava Lama is the Director General of Department of Food Technology and Quality Control (DFTQC). In an interview with The Corporate’s Suraksha Adhikari, she talked about the present controversy about dairy products in Nepal and highlighted the plans of DFTQC for improving quality of foods in Nepali market. <strong>Excerpts: </strong></span></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1"> <tbody> <tr> <td> <img alt="Jiwan Prava Lama,Director General of Department of Food Technology and Quality Control (DFTQC)" src="/userfiles/images/lama.jpg" style="width: 250px; height: 309px;" /></td> </tr> <tr> <td style="text-align: center;"> <div> <strong>Jiwan Prava Lama</strong>,</div> <div> Director General</div> <div> Department of Food Technology and Quality Control</div> </td> </tr> </tbody> </table> <div> <strong>Your department has reported that sub-standard and non-edible foods are freely traded in the market. Does it imply a failure of regulators? </strong></div> <div> </div> <div> There are 181 standards for food. Within those standards there are 10 categories with various parameters. If the manufactured food doesn’t meet a single parameter, we consider it as a non-parameter. We do report such cases but food products that do not meet every parameter cannot be considered adulterated. Some of them are non-conformant, sub-standardized, and some are adulterated. All of these foods are not non-edible. Some of them can be eaten after applying some safety measures. </div> <div> </div> <div> We do not consider it as a failure of regulators as it comes under the food safety chain. The quality of food has to be ensured right from its production to the time it reaches the dining table. The food should be checked during production, packaging and even during consumption as even the wrong way of consumption can decrease its quality. </div> <div> </div> <div> <strong>Your department’s report on milk products in Kathmandu has caused a drastic reduction in consumption of processed milk, threatening both the dairy industry and dairy farming. What is your comment? </strong></div> <div> </div> <div> Our department monitored 14 dairy industries and collected 17 samples of milk. Among them, none had met all the parameters. A minimum of two percent of coliform was found in the milk, which does not meet our standard. In such a situation, certain actions are necessary to minimize such irregularities. We are taking action upon these dairies because of which consumption might have decreased. The government too has formed the National Dairy Development Board in order to reduce the adulteration of milk, thereby increasing its quality. </div> <div> </div> <div> <strong>You are also the head of Nepal Food Scientists and Technologists Association (NEFOSTA). What can your association do for resolving these issues? </strong></div> <div> </div> <div> NEFOSTA can play the role of an agent between the government and the industries and fill the gap of technical manpower in companies. There is a lack of skilled manpower in the dairy business because of which these problems are emerging. Our association can help the government by providing technical manpower to ensure quality food. </div> <div> </div> <div> <strong>It is alleged that your department’s campaign against contaminated milk is discriminatory as it punished Nepali dairies while imported milk was not checked. What is your comment? </strong></div> <div> </div> <div> Our department verifies the quality of milk within certain standards, norms and policies of the department. There are processes that we have to go through when we are performing each and every task. We are checking the quality of milk only on the basis of coliform now and penalizing those dairies where 0-1000 units of coliforms are found in the milk produced by them. Until now, we have been focusing on some soft punishments but we are moving towards some strict action soon. </div> <div> </div> <div> <strong>Your department is criticized also because it has come down harshly on registered dairies and neglected the unregistered ones, discouraging people from registering their dairies and coming under government tax net. What do you have to say? </strong></div> <div> </div> <div> It is the duty of local bodies of the concerned area to look after the registration of industries. Our task is to monitor the registered ones. If the local bodies perform their tasks properly, we could perform our work more effectively. But in our country, concerned sectors are not aware of the responsibilities provided by the law. Though the non-registered dairies don’t come under our scope of work, we are planning to investigate even them. We have not been able to go ahead for examining the quality of local dairies due to lack of skilled manpower, but we will be involving ourselves with them gradually. </div> <div> </div> <div> <strong>Five dairies are sealed by the government for contamination. What is your take on this? </strong></div> <div> </div> <div> We have sealed those dairies for the sake of improving the quality of milk. During the survey of dairies, those which failed to meet certain standards were sealed. But we are liberal on this issue as we can give permission to re-open the sealed diaries if they improve their standards. This action is a warning to the dairies to focus on quality production of milk. Kharipati Dairy was also sealed but when it improved its quality, we permitted its operation to resume. </div> <div> </div> <div> <strong>What further plans does the department have to increase the quality of food? </strong></div> <div> </div> <div> Presently, we are focusing on quality assurance of milk. There is still so much to be done in the issue of water contamination. After this, we are going into water purification. Sample collection is being done for the inspection of water. </div> <div> </div> <div> Further, we will be focusing on other domestic products and import-export products. Only goods that meet the legal provisions of Nepal and familiar to consumers here should be imported. We have also discussed with the government to work on the classification of the industries and in maintaining the standard of the Nepali market by developing good management practice in the market to assure Nepali people of quality goods.</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' => 'Jiwan Prava Lama is the Director General of Department of Food Technology and Quality Control (DFTQC). In an interview with The Corporate’s Suraksha Adhikari, she talked about the present controversy about dairy products in Nepal and highlighted the plans of DFTQC for improving quality of foods in Nepali market', 'sortorder' => '1267', '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' => '1404', 'article_category_id' => '149', 'title' => 'Steady Progress To The Top', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Chairman Deepak Shrestha and Managing Director Amrit Pd Dwa with Brand Ambassador Rajesh Hamal (Center).</strong><br /> <br /> <br /> <br /> <br /> <strong>By Shruti Sonthalia</strong><br /> <br /> <br /> Nepatop, a manufacturing company of plastic water-storage tanks, compost bins, water pumps, pipes and fittings among other polythene-based products, was established in the year 1999 by Chairperson Deepak Shrestha and Managing Director Amrit Prasad Dwa. Friends prior to being colleagues, the duo got their acumen together to form what stands today as a respectable ISO certified company.<br /> <br /> Assuring as the tagline “Sab thikthak!” sounds, the journey of Nepatop as a business venture has indeed been alright. Major issues that pose challenge include the increasing rate of currency exchange which has nearly doubled since the time of the company’s birth. This of course adds to the cost of raw materials the company has to import.<br /> <br /> Other challenges include availability of labour – the lack of which can hamper the company’s progress. Nepatop, nevertheless, is sailing fine with 300 workers today. Shrestha, who believes that Nepalis ought to support their home economy instead of going abroad for opportunities, observes the changing patterns in human resource in his company: “Initially we had to hire engineers and trainers from abroad but today, I am proud to say that we have a strong Nepali manpower to complete the job,” he says.<br /> <br /> Nepatop started business by producing water storage tanks, has indeed been alright. Major issues that pose challenge include the increasing rate of currency exchange which has nearly doubled since the time of the company’s birth. This of course adds to the cost of raw materials the company has to import.<br /> <br /> Other challenges include availability of labour – the followed by water pumps, PPR pipes and fittings, HDPE pipes, UPVC pipes and fittings, and a new product is expected by 2014. The company aims to satisfy its customers by maintaining good quality and providing after-sale services, which is also a part of its marketing strategy. Additionally, Nepatop products are advertised in style with Rajesh Hamal as their brand ambassador.<br /> <br /> The company has four workstations three in the capital itself and one in Nuwakot, covering an area of 60,000 square feet all fully automatic plants producing 20- 25 metric tonne of goods per day. The market share for each of its products is different-the company has 75 percent of the market in PPR pipes, 16- 18 percent in water tanks, 25 percent in UPVC and less than 2-3 percent in HDPE.<br /> <br /> In terms of production capacity, the company still needs to achieve another 20- 25 percent of the current amount produced. But with 17 distribution channels in place countrywide, Nepatop seems to have good infrastructure in place to assure a steady progress in the future. Shrestha mentions that the company is one of the largest tax payers in the country. But on a more positive note, he forecasts with believable confidence that Nepatop will be the largest producers of plastic pipes and fittings by 2020.<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' => 'Nepatop, a manufacturing company of plastic water-storage tanks, compost bins, water pumps, pipes and fittings among other polythene-based products, was established in the year 1999 by Chairperson Deepak Shrestha and Managing Director Amrit Prasad Dwa. Friends prior to being colleagues, the duo got their acumen together to form what stands today as a respectable ISO certified company.', 'sortorder' => '1266', 'image' => '1373884811.jpg', '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' => '1403', 'article_category_id' => '122', 'title' => 'TM Dugar Group: Preserving Its Legacy', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Gaurav Aryal</span></strong></div> <table align="right" border="0" cellpadding="1" cellspacing="1"> <tbody> <tr> <td> <img alt="Moti Lal Dugar,Chairman, TM Dugar Group" src="/userfiles/images/dugar2.jpg" style="width: 200px; height: 220px; margin: 5px 2px;" /></td> </tr> <tr> <td style="text-align: center;"> <div> <strong>Moti Lal Dugar</strong></div> <div> <span style="font-size: 12px;">Chairman, TM Dugar Group</span></div> </td> </tr> </tbody> </table> <div> </div> <div> T M Dugar Group of companies has a legacy of almost 140 years in Nepal. It was established by the first generation of businesspersons in the Dugar family and has carved a niche and a strong brand image for itself. The group today is far from its heyday, though it has not lost all of its charm. According to Chairman Moti Lal Dugar, the group has been hit hard by the prevailing gloom in the business environment. </div> <div> </div> <div> <strong>Sizing down </strong></div> <div> </div> <div> “The organised sector is treading a path of misery. We have felt that we are less capable to work in such an environment. So, without alleging anyone, we are closing some of our ventures,” Dugar expressed dissatisfaction. Bureaucratic hassles and procedural delays have been discouraging constraints in the business. Dugar also says that it is extremely difficult to run a business in current times. The group has closed down almost half a dozen manufacturing units. </div> <div> </div> <div> With no plans for expansion in the manufacturing sector, the group has kept itself in a ‘wait and watch’ mode and has decided to sustain those ventures that are doing relatively well. Says Dugar: “We do not have thoughts to pursue a new line of business today. We are instead concentrating on ways to sustain our ventures and even downsizing and closing some of them.” He says that doing business in current unfavourable environment is not an easy job and going for expansion at the moment would be a costly proposition. </div> <div> </div> <div> <strong>The Hydro Hope </strong></div> <div> </div> <div> Despite the depressing business climate, the group sees prospects in the hydropower industry. Although Dugar did not reveal the details of the project, he says the group is soon developing three hydropower plants. “Hydropower is the only sector where the future rests,” he claims. </div> <div> </div> <div> The group is currently waiting for the government’s approval of the projects and to sign the power purchase agreement (PPA) with the Nepal Electricity Authority (NEA). After filing an application for the PPA at NEA, things have yet to be finalised due to procedural delays. “We are ready from our side but we need the go ahead signal from the government,” Dugar shares.</div> <div> </div> <div> Dugar expects the construction phase to begin next year. While a detailed project report has already been completed, progress has stalled at the project development stage since the past five to six years. “The response of NEA is not encouraging. They invite investors but the government monopsony --NEA--is reluctant to purchase electricity. We do not have the provisions to sell power directly to the industries by paying wheeling charges to NEA for using their transmission line.” </div> <div> </div> <div> Initially, the group will make investments in the project solely, but Dugar is open to including locals and to inviting public shareholders once the construction begins. As the hydropower project is capital-intensive, the group has kept its doors open for external partners as well. Dugar believes that the hydropower sector of Nepal can only be developed when the government, investors, general public and the private sector can go hand in hand. </div> <div> </div> <div> <strong>Days of Glory </strong></div> <p> Chandmal Dugar--Moti Lal Dugar’s grandfather--first initiated business in Biratnagar with the trading of agro products like paddy, jute and textiles. Business later expanded into the processing of jute and setting up rice mills in different parts of the country. The group grew further during his son’s time, but it took a new turn under the leadership of his second grandson - Tolaram Dugar. After the death of his father, Tolaram shouldered all responsibilities of the group at the age of 28. Dugar credits his brother’s contributions in taking the business to new heights. Later, when the family split in the early 90s, the group was divided into three sub groups namely HC Dugar, KL Dugar and TM Dugar. Though the group split professionally, Dugar says that family relations are still going strong and united.</p> <div> </div> <div> <strong>Current Involvement </strong></div> <div> </div> <div> <img alt="" src="/userfiles/images/dgr3.jpg" style="float: right; width: 325px; height: 153px;" /></div> <div> TM Dugar Group has specialised in manufacturing of food grains such as rice, lentils and vegetable oils. It was the TM Dugar Group that set up modern rice mills in Dhangadhi in far-western Nepal and contributed in creating and expanding the market for agro products. Today, the group has a wide array of investments in banking, hydropower, automobiles, agro solutions, life insurance, FMCG products, agro based industries and automobiles, among others. The group is a major promoter of Sunrise Bank Ltd. and Gurans Life Insurance Co Ltd.--two public limited companies in the financial sector. The group stepped into the service industry through banking and insurance about seven years ago. </div> <div> </div> <div> The automobiles trading wing of the group imports and sells vehicles of the Japanese brand Nissan, buses and trucks from the Indian company Mahindra, motorcycles from Royal Enfield and tractors from John Deere. Similarly, Frooti and Appy are two soft drink brands that are produced by the TM Dugar Group in Nepal. In the days to come, the group plans to concentrate on the service <span style="font-size: 12px;">sector. Banking, life insurance and hydropower are some of the areas of its interest, although there are hints that the group will gradually be working under the model of public limited company. “Slowly we will go into the public limited model of doing business. Old businesses will continue as they are and the new ventures will be under this new model. Sunrise Bank and Gurans Life Insurance are public limited companies whereas the hydropower companies will also go public once they enter the construction phase,” Dugar says. </span></div> <div> </div> <div> <strong><img alt="Dugar Food and Beverage" src="/userfiles/images/dgr4.jpg" style="width: 500px; height: 380px; margin: 5px 25px;" /></strong></div> <div> <div> <strong>Management Style </strong></div> <div> </div> <div> The group has provided employment to more than 600 people in its various companies. However, Dugar says that the group’s latest strategy of business constriction allows no new employees to be hired. Though the company does not have layoff plans, vacancies are not being announced after employees resign. Human resource management is done professionally through a separate team at the TM Dugar Group. </div> <div> When it comes to making decisions, professionals and managers are given the right to make decisions on administrative and daily procedures. However, financial matters are left to the board to decide. </div> <div> Staying cautious in a ‘wait and watch mode’, the group does not have any plans other than venturing into hydropower generation. The group has its hopes pinned on this sector and it is a matter of time before it will begin developing power plants and find itself once again in expansion mode.</div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <strong><span style="font-size:14px;">AT A GLANCE</span></strong></div> <div> </div> <div> <strong>Financial Services</strong></div> <div> </div> <div> After trading and manufacturing, the TM Dugar Group ventured into the financial service sector. The first move into this sector was with Sunrise Bank Limited, an A class financial institution, in association with other business houses of Nepal. The bank has a paid-up capital of Rs 2.015 billion and authorised capital of Rs 5 billion. <span style="font-size: 12px;">Similarly, the next venture was in the life insurance business, which is believed to hold tremendous potentials. So, Gurans Life Insurance Company was established in 2008, six months after the Sunrise Bank, where the group is one of the major promoters. The company has a total authorised capital of Rs 500 million, out of which issued and paid-up capital accounts to Rs 360 million. Out of the total issued capital, 30 per cent has been allotted to the public through IPO and 70 per cent remains with the promoters. There are more than 26,000 shareholders in the company.</span></div> <div> <span style="font-size: 12px;"> </span></div> <div> <strong>Working Area </strong></div> <div> </div> <div> • Banking </div> <div> • Hydropower </div> <div> • Automobiles </div> <div> • Agro Solutions </div> <div> • Life Insurance </div> <div> • FMCG Products </div> <div> • Agro Based Industries</div> <div> </div> <div> <strong>Food Grains </strong></div> <div> </div> <div> The TM Dugar Group is an authorised supplier for the World Food Program (WFP), supplying food grains as per WFP standards for more than a decade. The TM Dugar Group also exports Nepali lentils to Bangladesh, India and other parts of the world. The group’s agro processing plants are situated in Birgunj, Nepalgunj and Dhangadhi. </div> <div> </div> <div> <strong>Corporate Social Responsibilities </strong></div> <div> </div> <div> The group has been regularly involved in various social causes since its establishment. There are two charitable trusts - Tolaram Malchand Dugar Charitable Trust and Motilal Vivek Dugar Charitable Trust - that support people by providing food, clothes, education, scholarships, medicines and surgery expenses. Some of the CSR activities the group has conducted thus far are:<span style="font-size: 12px;"> </span></div> <div> • Contribution to the construction of a wing in Nandi Madhyamik Vidyalaya, Naxal, Kathmandu. </div> <div> • Contribution to the construction of Bhagawan Mahavir Jain Niketan, Kathmandu </div> <div> • Contribution to the construction of Bhagawan Mahavir Jain Niketan, Birgunj </div> <div> • Contribution to the construction of Aditi Sadan, Biratnagar </div> <div> • Contribution to the construction of Jain Swetamber Terapanthi Sabha, Birgunj </div> <div> • Contribution to the construction of Jain Swetamber Terapanthi Sabha, Biratnagar </div> <div> • Construction of Tolaram Bhanwari Devi Chikitsalaya and Research Center, Biratnagar </div> <div> • Construction of schools, temples, homeopathic clinics and college buildings.</div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'T M Dugar Group of companies has a legacy of almost 140 years in Nepal. It was established by the first generation of businesspersons in the Dugar family and has carved a niche and a strong brand image for itself.', 'sortorder' => '1265', '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' => '1402', 'article_category_id' => '160', 'title' => 'Corptoon Issue 22', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" src="/userfiles/images/CORPTOON1A.jpg" style="width: 550px; height: 593px; margin: 5px 25px;" /></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' => 'Corptoon Issue 22', 'sortorder' => '1264', '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' => '1401', 'article_category_id' => '91', 'title' => 'About 511billion Budget For FY 2013-14', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div> <div> </div> <div> Ministry of Finance has prepared a government budget of about Rs 511 billion for FY 2013-1. The ordinances related to budget proposals had reached the President Office for approval when this matter was sent to the press. It was to be announced after getting the Presidential approval.</div> <div> </div> <div> The budget being announced today has no major new programme. However, it is regarded as better than that of several previous years as it is a ‘full budget’ while in the previous years there were truncated budgets. The last full-fledged budget was announced on FY 2011-12. The budget for 2013-14 has mainly focused on the so called ‘national pride projects’ and poverty alleviation programmes. </div> <div> </div> <div> The 2013-14 budget has also made provisions for the up-coming constitutional assembly elections. So, a huge portion of budget is being allocated for the security and increment of salary of the government employees. The size of the budget has increased due to the demand of increment of salary of government employees, stated a source.</div> <div> </div> <div> Similarly, the budget is also focused on energy, infrastructure development, agriculture and trade promotion.</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' => 'Ministry of Finance has prepared a government budget of about Rs 511 billion for FY 2013-1.', 'sortorder' => '1263', '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' => '1400', 'article_category_id' => '91', 'title' => 'Govt Fails To Keep Economy On Track', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div> <div> </div> <div> The failure of the government to meet targeted economic growth rate paved a way for its setback. The Economic Survey 2012 made public by Finance Ministry this week shows that the government’s target of achieving 5.5 per cent economic growth in 2012-13 slipped by nearly 2 percent age points limiting at 3.6 per cent.</div> <div> </div> <div> In the first 11 months of current fiscal year, the national economy suffered from near double-digit inflation and ballooning trade deficit along with the low economic growth, the survey said. National economy has expanded to Rs 1,701 billion and per capita income of Nepalis edged up to Rs 62,797 from the Rs 58,274 recorded last year.</div> <div> </div> <div> However, per capita income in dollar terms reduced to US $721 from US$742 of last year. The government also failed to contain inflation at 7.5 per cent as predicted. Imbalance in supplies due to an almost double-digit decline in key farm products jacked up inflation to 8.2 per cent by mid-June this year, according to the survey.</div> <div> </div> <div> Skyrocketing trade deficit, which touched Rs 438.67 billion during the first 11 months of the current fiscal year, according to Nepal Rastra Bank data, has been identified as another challenge in the economy. Revenue mobilization however reached Rs 280 billion as of July 10 this year, which is close to the target of Rs 289 billion.</div> <div> </div> <div> The government also failed to expedite capital expenditure in the fiscal year 2012-13. Though the government announced a budget of Rs 404.82 billion for the current fiscal year, only Rs 317 billion was spent by July 10, according to the survey. The amount excludes expenditure in 15 districts where the Treasury Single Account (TSA) system has not been implemented so far.</div> <div> </div> <div> However, the balance of payments surplus of Rs 52.69 billion, a 21.3 percent rise in remittance inflow to touch Rs 388.46 billion and record high foreign exchange reserves worth Rs 511.69 billion at the end of the current fiscal year have brought cheer among officials.</div> <div> The Economic Survey also shows that the share of consumption in the Gross Domestic Product (GDP) increased to 90.7 percent this year from 87.3 percent recorded last year.</div> <div> </div> <div> During the first eight months of the current fiscal year, the government added 1,987 km transmission lines, 128 km black-topped roads, 169 km gravel roads and 194 km earth roads despite the low spending capacity of the government due to late announcement of a full budget.</div> <div> </div> <div> <strong> Whopping Trade Deficit</strong></div> <div> </div> <div> Nepal racked up more than Rs 441.33 billion in trade deficits in the first 11 months of current fiscal year, according to the Current Macroeconomic Situation of Nepal (Based on Eleven Months’ Data of 2012-13) released by Nepal Rastra Bank (NRB).</div> <div> </div> <div> In the first 11 months of fiscal year 2012-13, merchandise imports surged by 21.2 percent to Rs 508.60 billion. Such imports had risen by 16.8 percent to Rs. 419.57 billion during the corresponding period of the previous year. Total imports surged in the review period due mainly to the rapid increase in imports from India.</div> <div> However, exports had increased by only 6.3 percent to Rs 67.21 billion during the same period of the previous year. The growth of total export remained low in the review period due to the slowdown in exports to both India and other countries, according to the report of NRB.</div> <div> </div> <div> <img alt="Overall Economic Indicators of FY 2012-13" src="/userfiles/images/overall.jpg" style="width: 500px; height: 267px; margin: 10px 25px;" /></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' => 'The failure of the government to meet targeted economic growth rate paved a way for its setback.', 'sortorder' => '1262', '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' => '1399', 'article_category_id' => '34', 'title' => 'Etihad Airways Posts Record Results For Second Quarter And First Half Of 2013', 'sub_title' => '', 'summary' => null, 'content' => '<p> Etihad Airways announced its strongest second quarter and half-year financial performances on record, reflecting continued solid growth in its airline alliance strategy and global cargo operations. The national carrier of the United Arab Emirates achieved an eight per cent increase in Q2 2013 passenger revenues, generating US $921 million (2012: US $855 million), while passenger revenues for the first half of 2013 reached US $1.8 billion (2012: $1.6 billion), up by 13 per cent. <br /> <br /> Revenue generated by codeshare and equity alliance airline partners was US $184 million in Q2 2013. This was 25 per cent above the US $147 million turnover in the same period of 2012. Partnership revenue comprised 20 per cent of the airline’s total passenger revenue in both Q2 and the first half of 2013. The President and Chief Executive Officer of Etihad Airways, James Hogan, said the company’s Q2 and half year results were achieved despite the continuation of unsteady economic and geopolitical factors, with air fare yields slightly lower for the quarter, compressed by strong competitive capacity growth and resultant price competition.<br /> <br /> “Despite the tough global trading climate, we have still achieved record, double digit growth in both Q2 and the first half of 2013,” Hogan said. Etihad Cargo continued to achieve the strongest growth in the company, with 112,963tons uplifted in Q2 2013 (2012: 89,470 tons) and 215,124 tons in the first half of 2013 (2012: 174,622 tons). This reflected a massive 26 per cent growth in Q2 and 23 per cent growth for the first half of 2013. <br /> <br /> The growth in cargo volumes was underpinned by the delivery in Q2 of three new freighter aircraft – one Airbus A330-200F, one Boeing 777-200F and the company’s first Boeing 747-8F, which was wet leased from Atlas Air – taking the cargo fleet to nine. Cargo performance was further boosted by increased passenger services, providing more under-floor freight capacity.<br /> </p>', 'published' => true, 'created' => '2013-07-10', 'modified' => '2013-07-15', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Etihad Airways announced its strongest second quarter and half-year financial performances on record, reflecting continued solid growth in its airline alliance strategy and global cargo operations. The national carrier of the United Arab Emirates achieved an eight per cent increase in Q2 2013 passenger revenues, generating US $921 million (2012: US $855 million), while passenger revenues for the first half of 2013 reached US $1.8 billion (2012: $1.6 billion), up by 13 per cent.', 'sortorder' => '1261', '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' => '1413', 'article_category_id' => '183', 'title' => 'Gateway To Shangri-La', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Gaurav Aryal</strong><br /> <br /> Nepal conceals abundant travel and adventure prospects amid the blue mountains and snowy white peaks. The Annapurna Dhaulagiri Community Trail Trek is one of the newer trekking routes that take travellers to the Himalayan Shangri-La. It is a part of the Great Himalaya Trail. A seven to 10 days long trek to the southern flank of the Annapurna and Dhaulagiri region offers the taste of Nepal that is away from Nepali image, tourists are usually known to.<br /> <br /> The trail passing through the Magar communities definitely offers the panoramic views of the majestic mountains and pristine wilderness. In addition, it is also a route to experience the exotic culture and livelihoods of Magar people in the surrounding villages. Community lodges and home stay have not only offered tourists to get a peaceful rest but is also an opportunity to understand the local culture and life style. Trekking in this route is a destination for responsible tourism where the benefits directly go to the local people.<br /> <br /> Tourism facilities have become an attractive source of income for local people. Nangi village, also known for the wireless project initiated by Ramon Magsaysay Award winner Mahabir Pun, is making a turnover of around Rs 1.4 million annually since the opening of trail. Community lodges are available at Banskharka, Nangi, Mohare, Dandakharka, Swanta and Khopra. Similarly, home stay is available at Tikot, Paudwar and Narchyang. Most of the stops in this route offer Wi-Fi Internet and telephone services.<br /> The community and ecotourism trekking route is classified as moderately difficult one. Trekking begins from Galeshwor of Myagdi and stops at Tatopani at the bank of Kaligandaki River or those looking for more thrill can also chose to go to Khair Lake and Annapurna Base Camp.<br /> <br /> Mohare (3320m) and Khopra (3660m), two highest points in the trail promise a panoramic view of the Annapurna and Dhaulagiri mountain range and are ideal for watching sunrise and sunset. The trail passing through the rhododendron forests would entice visitors during the spring season when these flowers bloom with full glory. Similarly, Annapurna and Dhaulagiri’s jaw dropping views never leave the traveller alone.The peak season for trekking in this route is from autumn to early winter and from early spring to summer. Although the spring condition may be mild in the lower hills but the highest points Mohare and Khopra may still be icy cold.<br /> <br /> The trail was opened up with a purpose to enhance the local community’s life style with the support of UNDP Micro Enterprise Development Programme (UNDP-MEDEP), Nepal Tourism Board (NTB) and Trekking Agencies’ Association of Nepal (TAAN).<br /> <br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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 conceals abundant travel and adventure prospects amid the blue mountains and snowy white peaks. The Annapurna Dhaulagiri Community Trail Trek is one of the newer trekking routes that take travellers to the Himalayan Shangri-La. It is a part of the Great Himalaya Trail. A seven to 10 days long trek to the southern flank of the Annapurna and Dhaulagiri region offers the taste of Nepal that is away from Nepali image, tourists are usually known to.', 'sortorder' => '1275', 'image' => '1373889087.jpg', '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' => '1412', 'article_category_id' => '157', 'title' => 'Cafe Horizon’s Wide Horizons', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Sujan Tiwari</strong><br /> <br /> <br /> I f you are tired of dining within the confinement of restaurant walls and want to breathe in fresh air as you eat, Café Horizon at Hotel Himalaya could be the perfect choice for you. Café Horizon serves as the main dining of the Hotel, and is popular among the in-house guests as well as guests from outside.The café begins from the lobby of the Hotel, and expands to the outside garden and continues up to the pool. There are numerous seating options to suit every mood. Whether you want a quick lunch, a lavish dinner or a peaceful time with your loved one, Café Horizon can cater to it all. The best place to seat, however, is the outside garden. One can relax in the lush garden and enjoy the view here.<br /> <br /> On a clear day, the garden offers the magnificent view of the Himalaya. It is probably one of the best views from any restaurant in Kathmandu. “As the Café is seen as soon as you enter the hotel, we consider it to be the focal point of our Hotel,” says Rabindra Tandukar, Executive Manager at Hotel Himalaya. The Café opens at 6 in the morning, and serves breakfast, dinner and everything in between before closing at 10 pm.<br /> <br /> The Café is a multi-cuisine one and Continental and Oriental dishes are the specialty here. Kamal S Rana, the Executive Chef of the Hotel has an experience of almost four decades, and specializes in Continental and Indian cuisine. The Cafe boasts of numerous Continental and oriental starters and mains. Insalata Caesar is one of the popular starters here, classic Caesar salad with croutons, and option of cheese, chicken or prawn, with traditional flavoured garlic essence.<br /> <br /> Another option could be grilled baby prawn salad. For the salad, prawn is marinated in garlic and lemon juice, pan grilled and is served with leafy veggies and garlic croutons. Herb Fried Prawn is what Chef Rana recommends. For the dish, prawns marinated in Himalayan spices is fried and served with onion rings and a ranch dip. Soup lovers can enjoy tom yum, minestrone and French onion soup among other varieties.<br /> <br /> The menu offers a lot of options for main courses as well. One of the best selling Continental main courses is Grilled Salmon Steak. It comes with pan baked Norwegian Salmon served with baked potatoes, veggies and risotto topped with lemon and herb sauce. Another Continental main is Mixed Grill on Sizzler that comes with tenderloin, hot dogs, chicken and potato with green pepper corn sauce. Ayam Masak Merah is an Oriental main. For the dish, veg noodles or fried rice is served with a spicy tomato based chicken curry cooked in Malaysian style. Hyderabadi biryani, Madras fish curry and tandoori murg are some of the Indian mains served at the Cafe.<br /> <br /> For quick lunch, the Cafe has assorted burgers and sandwiches. French Connection, a tenderloin sandwich in baguette is one of the popular sandwiches here. Those sticking with Nepali food can savour Nepali meal named Himalayan Thali. It is traditional Nepali meal served with choice of meat or veg, and is accompanied by dessert. Tiramisu, apple pie and fresh fruit platter are some of the served desserts.<br /> <br /> Going into beverages, the Cafe serves everything, from signature and classic cocktails to aperitifs, champagne, cognac and chilled beers. Himalayan refresher, a drink with gin, vodka, rum, soda, sugar syrup and lemon juice is one of the signature cocktails of the Cafe.<br /> <br /> The menu of the Cafe is changed every one and a half years, and the popular ones are continued and new dishes are added. “We continuously strive to offer our guests the best dining experience. We consider their feedback as well when we change the menu,” says Tandukar. A classy and peaceful ambience along with assorted multi-cuisine delicacies what Cafe Horizon is all about. Make it your next dining destination and you won’t leave unsatisfied.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'I f you are tired of dining within the confinement of restaurant walls and want to breathe in fresh air as you eat, Café Horizon at Hotel Himalaya could be the perfect choice for you. Café Horizon serves as the main dining of the Hotel, and is popular among the in-house guests as well as guests from outside.The café begins from the lobby of the Hotel, and expands to the outside garden and continues up to the pool. There are numerous seating options to suit every mood. Whether you want a quick lunch, a lavish dinner or a peaceful time with your loved one, Café Horizon can cater to it all. The best place to seat, however, is the outside garden. One can relax in the lush garden and enjoy the view here.', 'sortorder' => '1274', 'image' => '1373888635.jpg', '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' => '1411', 'article_category_id' => '161', 'title' => '‘Local Currency Funds Are Important For Private Sector Development’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Karin Finkelston,International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific." src="/userfiles/images/4a.jpg" style="float: right; margin: 0px 10px 0px 0px; width: 225px; height: 265px;" /></div> <div> <span style="font-size:14px;">Karin Finkelston is International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific. Her responsibilities include overseeing IFC’s investment and advisory programmes as well as maintaining relationships with key government and private sector partners in the region. Recently, she visited Nepal and spoke to Siromani Dhungana of The Corporate. <strong>Excerpt: </strong></span></div> <div> </div> <div> <strong>What is IFC’s overall strategy in South Asia? </strong></div> <div> </div> <div> South Asia is where the world’s poorest live in large numbers. Our mission is to create opportunity where needs are greatest and most relevant in this region. With many countries in the region facing development challenges and severe climate change impact amid political transition, this is a defining moment to make meaningful intervention. </div> <div> </div> <div> To meet these challenges, IFC’s strategy for South Asia is three-pronged: </div> <ul> <li> Achieving inclusive growth, including support for frontier regions through increased access to infrastructure; </li> <li> Addressing climate change impact through adaptation and mitigation measures; and </li> <li> Promoting regional and global integration including South- South investments and trade finance. </li> </ul> <div> </div> <div> <strong>As Asia Vice President for IFC, how do you think IFC can help countries like Nepal in their development agenda?</strong></div> <div> </div> <div> In my role as VP for Asia, I see the similarities and differences in context and also the potentials – picking up lessons and learning from other countries is invaluable. Nepal, for example, needs to meet the most important aspects of providing electricity to its people and industry and jobs to its youth. Nepal’s immense hydropower potential positions it well to respond to these needs. </div> <div> </div> <div> <strong>The needs in infrastructure, especially in energy can be met by harnessing the country’s hydro potential. What are IFC’s plans in this regard? </strong></div> <div> </div> <div> Nepal’s hydropower potential of about 84,000 MW is enough to meet about 3 percent of the global demand for power if the potential is fully realized. So far only about 686 MW is developed whereas the total installed capacity is 740 MW. The International Bank for Reconstruction and Development (IBRD), IFC and the Multilateral Investment Guarantee Agency (MIGA) are planning to collaborate on developing Nepal’s hydropower potential. IFC has supported hydropower projects in Nepal in the past as well. Two years back, we invested in a run-of-river hydropower project with Butwal Power Company. IFC’s financing is helping to renovate and upgrade the power plant, including the replacement of 100- year old turbines with modern and efficient technology. The plant’s output is expected to increase by 50 percent. </div> <div> </div> <div> <strong>How have you supported the private sector in other areas and businesses? </strong></div> <div> </div> <div> IFC’s strategic agenda in Nepal includes priority sectors of infrastructure, finance, including access to finance for SMEs and women entrepreneurs, tourism and agribusiness. With the corporation’s growing investments and advisory assistance, IFC is set to play a key role in Nepal. IFC is also working on a payment reform project and an advisory team is making important progress by building partnerships between the government and private sector through the Nepal Business Forum. We are now working with the private sector to promote improved agricultural and water management practices and introducing new technologies among small farmers producing rice, maize and sugarcane to adapt to climate change. </div> <div> </div> <div> <strong>IFC has been planning to issue local currency bond in Nepal. Could you please highlight the logic behind this?</strong></div> <div> </div> <div> A strong capital market helps the private sector to efficiently finance their operations, depending on the risk of the capital, instead of worrying about foreign exchange facilities. IFC supports local capital markets by issuing local currency bonds, often paving the way for other issuers. We also provide local currency finance to meet the needs of the private sector in many countries. Our projects require local currency financing as well. </div> <div> </div> <div> <strong>What do you have to say to the Nepali private sector that is focusing more on the problems of getting foreign capital than on local currency funds? </strong></div> <div> </div> <div> Developing local currency funds is an important element of private sector development. They help create access to long-term financing for large infrastructure projects and for small and medium enterprises- -the key drivers of jobs and growth. However, availability of strong local currency funds requires a conducive regulatory framework, a market and infrastructure. </div> <div> </div> <div> <strong>There is a big chunk of work IFC is leading on the advisory side--around reform. How do you think this work can help the private sector in Nepal? </strong></div> <div> </div> <div> IFC, through the South Asia Enterprise Development Facility, has been supporting the Nepal government’s efforts to focus on growing the country’s economy through improving the business environment, supporting sustainable business growth, and creating jobs. Our reform programmes in Nepal are aimed at making it easier to do business by reducing barriers to new business registration and streamlining the administration of taxes. We also help facilitate public-private dialogue to ensure that business reforms made by the government match private sector needs besides promoting private investments in Nepal.</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' => 'Karin Finkelston is International Finance Cooperation’s (IFC’s) first Vice President for Asia- Pacific.', 'sortorder' => '1273', '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' => '1410', 'article_category_id' => '159', 'title' => 'Exercise Relieves Tension', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Om Prakash Sharma<br /> Director, Mahabir Automobiles</strong><br /> <br /> <br /> <br /> <br /> <strong>By Shruti Sonthalia</strong><br /> <br /> “After eight hours long work an entrepreneur should exercise”, believes the Director of Mahabir Automobiles, Om Prakash Sharma. This is how he spends his spare time. He goes to the Radisson Health Club to carry out his fitness activity. Sharma says exercising helps to reduce the mental fatigue and makes him fresh for the next day. The health club is a place to relax and unwind the day’s pressure.<br /> <br /> Sharma makes use of the fitness equipments in the club to work out. He also adds that the physical exercise makes one focused and far-sighted. Very rightly the entrepreneur chooses to exercise as his leisure time activity, because it increases the efficiency of a person. Not only that it also helps to inculcate various moral values in oneself like, patience, willpower and others necessary to be a successful management personnel. He adds, “It energizes and makes the work joyful, an ideal way to stay fit.”<br /> <br /> Being an physical exercise enthusiast Sharma loves sports. He plays cricket sometimes, which he wants to do regularly, but his busy schedule does not allow him. Apart from fitness activities he also spends some time with his family. He loves travelling and often goes for long-drive in his “own SUV”, as he points out.<br /> <br /> Sharma likes facing challenges, to which he cites an incident moment. Few months back he visited Pokhara and wanted to go for paragliding. He opted for that for the thrill. Initially, he was a little scared but finally answered the call of his heart by completing the exciting venture. This quality of determination helps him in his workplace in terms of decision making. “This combination of enthusiasm, sportsmanship and risk-taking makes me what I am,” he adds.<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' => '“After eight hours long work an entrepreneur should exercise”, believes the Director of Mahabir Automobiles, Om Prakash Sharma. This is how he spends his spare time. He goes to the Radisson Health Club to carry out his fitness activity. Sharma says exercising helps to reduce the mental fatigue and makes him fresh for the next day. The health club is a place to relax and unwind the day’s pressure.', 'sortorder' => '1272', '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' => '1409', 'article_category_id' => '158', 'title' => 'Ford EcoSport: A True Sport', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> <br /> <br /> GO Ford launched Ecosport last week, a new SUV in the market that it claims to have compelling value-for-money proposition. According to the company, Ecosport will be a game changer in the SUV segment, and will also take on other segments like sedan and premium hatchbacks.<br /> <br /> Ecosport’s design is quite extraordinary and compels you to take a second look. The most amazing part of its design may be the aggressive looking front grille and the stylish headlights. The overall build of the SUV looks quite sporty and aerodynamic. Styling definitely is one of the plus points of Ecosport.<br /> <br /> On the inside, there are some amazing features too. Ecosport’s compact sub-four metre dimensions and the electric power-assisted steering with Pull-Drift Compensation help drivers park in tight spaces, manoeuvre in heavy traffic and make tight U-turns. Also, Ecosport is the first in its class to offer Ford SYNC, the voice-activated in-car connectivity that enables drivers to choose music, make calls without taking their hands off the steering.<br /> <br /> Another amazing thing about Ecosport is that it is available in 10 variants across four trims, three engine options and seven colours, with the option of manual and automatic transmission as well. The 1.0 litre Ecosport is powered by Ford’s patented 1.0-litre EcoBoost engine. The engine delivers a maximum power of 125 ps and peak torque of 170 Nm at 1400- 4500 rpm. Other engine options are 1.5L TDCi and 1.5L Ti-VCT.<br /> <br /> For safety, Ecosport has features like Hill Launch Assist in petrol automatic variant and ESP in models with automatic transmission. Ecosport also offers airbags for the driver and front passenger, as well as side airbags and curtain airbags, depending on the variant. Ford EcoSport is launched at an entry-level pricing of Rs 28,50,000.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'GO Ford launched Ecosport last week, a new SUV in the market that it claims to have compelling value-for-money proposition. According to the company, Ecosport will be a game changer in the SUV segment, and will also take on other segments like sedan and premium hatchbacks.', 'sortorder' => '1271', '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' => '1408', 'article_category_id' => '137', 'title' => 'World Unprepared For Urban Boom', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> In a world of more than nine billion people by 2050, most of the 6.5 billion urban dwellers will be living in developing countries, says the World Economic and Social Survey 2013, emphasising that new strategies are needed to address the impacts of rapid urbanisation around the world, including increasing demands for energy, water, sanitation, public services, education and health. </div> <div> </div> <div> According to the survey published by the UN Department for Economic and Social Affairs last week, more than 6.25 billion people will be living in cities by 2050. Within the time period of 2000-2050, developing regions could add 3.2 billion new urbanites, a figure larger than the entire world’s population in 1950. The survey found that the vision of sustainable development — promoting economic and social wellbeing while protecting the environment — has not been achieved, despite encouraging progress. Rising inequality and shortfalls in development partnership, rapid population growth, climate change and environmental degradation have hampered efforts. </div> <div> </div> <div> Damage to the global environment is reaching critical levels and threatens to lead to irreversible changes in global ecosystems, the survey said. The overarching environmental damage is anthropogenic, with humans releasing increased concentrations of greenhouse gases in the atmosphere, which is leading to global warming. If no policy framework is established to address this issue, the survey states, the number of people living in slums lacking access to basic infrastructure and services such as water, sanitation, electricity, health care and education might triple from 1 billion at present to 3 billion by 2050. </div> <div> </div> <div> The survey states that sustainable development of urban areas requires integration, coordination, and investments to tackle issues of land-use, food security, job creation, building new roads, biodiversity conservation, water conservation, renewable energy sourcing, waste and recycling management, and the provision of education, health care and housing. The survey calls for ambitious, action-oriented sustainable development strategies to address the different levels of urban development that are adaptable to different contexts. </div> <div> </div> <div> Estimates indicate that food production will have to increase 70 percent globally to feed an additional 2.3 billion people by 2050. The survey emphasises that economic and financial incentives to create and adopt new technologies will require policy reforms including taxes and subsidies, as well as regulatory reforms. (Agency)</div> <table border="0" cellpadding="20" width="99%"> <tbody> <tr> <td bgcolor="#FFFFFF"> <div> <span style="font-size:14px;"><strong>‘Nepal’s push for urbanization is poorly managed’</strong></span></div> <div> </div> <div> Nepal, once viewed as least urbanised country in South Asia, is witnessing a rapid pace of urbanisation. Population increase and migration are considered as significant factors in the growth of cities across the country. Rise in infrastructure development and increased economic opportunities too are fuelling the push for urbanisation. According to government data , Nepal’s urban population grew at 4.45 percent in 2012 compared to the previous year. Some 20 percent of Nepal’s population is currently living in urban areas. The contribution of urban areas to the gross domestic product (GDP) is assumed to be 65 percent. Urban areas in Nepal spread across 3,276 km square of the total area. A report published by The World Bank last year marked Nepal as the fastest urbanising nation in South Asia. </div> <div> </div> <div> However, poorly managed urbanisation in Nepal is ringing alarm bells as many problems have emerged. Particularly, the growth of cities is associated with rise in unemployment, inadequate health service, poor sanitation, urban slums, environmental degradation and crime. The World Bank last year warned that unless the government seriously manages urbanisation better, the country could fail to attain economic efficiency from the process. In March 2013, the bank also published another report entitled ‘Urban Growth and Spatial Transition: An Initial Assessment’ which warns about the consequences of unmanaged urbanisation in Nepal. ‘Nepal’s urban centres, particularly the Kathmandu Valley, are already facing serious challenges due to multiple factors such as inadequate infrastructure, haphazard planning and poor business environment,’ states the report. The report strongly advocates for the government to prioritise on investment in infrastructure, connect cities internally and externally and make growth inclusive in order to foster the growth and sustainability of urban area</div> <div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'In a world of more than nine billion people by 2050, most of the 6.5 billion urban dwellers will be living in developing countries, says the World Economic and Social Survey 2013', 'sortorder' => '1270', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '1407', 'article_category_id' => '115', 'title' => 'Tech Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>India to Intercept Blackberry Chat</strong><br /> <br /> Blackberry is ready to provide the Indian authorities with a way to intercept consumers’ messages sent and received on its platform. The news was revealed by the Times of India, which published part of a leaked government document. This would bring an end to a long-running dispute between the two sides. In 2010 the country had threatened to impose a ban on Blackberry devices, saying its secret services needed to be able to access suspects’ messages in order to prevent terrorist attacks. (BBC)<br /> <br /> <br /> <img alt="mobile" src="/userfiles/images/tmobile.jpg" style="margin: 10px;" /><br /> <br /> <br /> <strong>T-Mobile Lets Customers Upgrade Phones Twice a Year</strong><br /> <br /> T-Mobile is making a bid to become the wireless world’s “un-carrier,” rolling out a plan that will let users update their phones up to twice a year for a modest fee. That’s a sharp departure from the traditional model for wireless companies, which usually requires customers to complete a two-year contract before they can get a new smartphone at the discounted rate that makes them affordable. (CNN)<br /> <br /> <br /> <img alt="microsoft" src="/userfiles/images/microsoft.jpg" style="width: 211px; height: 204px; margin: 10px;" /><br /> <br /> <br /> <strong>Microsoft Shakes Up Management Again</strong><br /> <br /> Microsoft has once again reorganized its management structure, marking yet another strategy shift for a company that has a very mixed track record in restructuring its business operations. The shakeup, which Microsoft (MSFT, Fortune 500) announced Thursday, is intended to better align the company’s organizational structure with its new corporate strategy. CEO Steve Ballmer declared in October 2012 that Microsoft would transition to a “devices and services” company, focusing on making hardware, online services and apps that work together seamlessly across multiple screens and gadgets. (CNN)<br /> <br /> <br /> <br /> <img alt="space" src="/userfiles/images/space.jpg" style="margin: 10px;" /><br /> <strong>Space Probe Sees Solar System’s Tail</strong><br /> <br /> Thanks to solar wind blowing out from the sun in all directions at a million miles per hour, material from comets gets whipped back into a formation that looks like a tail. Now, scientists know that our solar system has a tail of its own, with a surprising shape. NASA researchers working with data from the Interstellar Boundary Explorer announced Wednesday they have for the first time mapped the solar system’s tail, called the heliotail. Their study is published in the Astrophysical Journal. (CNN)<br /> <br /> <br /> <br /> <br /> <strong><img alt="solarpanel" src="/userfiles/images/solarpanel.jpg" style="margin: 10px;" /><br /> Solar Plane Lands in New York, Completing US Journey</strong><br /> <br /> An airplane entirely powered by the sun touched down in New York City late on Saturday, completing the final leg of an epic journey across the United States that began over two months ago.The Solar Impulse, its four propellers driven by energy collected from 12,000 solar cells in its wings to charge batteries for night use, landed at John F. Kennedy Airport at 11:09 p.m. EDT, organizers said. (Reuters)<br /> <br /> <br /> <img alt="feds" src="/userfiles/images/feds(1).jpg" style="margin: 10px; width: 276px; height: 207px;" /><br /> <br /> <strong>Feds Asked to Avoid Def Con Hacker Meeting</strong><br /> <br /> Federal agents have been asked to stay away from one of the world’s biggest hacker gatherings. Revelations about the scale of US government spying meant emotions in the hacking world were “running high”, said organisers of the Def Con convention. As a result, federal agents should take a “timeout” from Def Con this year. The main Def Con event takes place in Las Vegas from 1 August and will see 15,000 hackers’ debate security topics and demonstrate their coding prowess. (BBC)<br /> <br /> <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' => 'Blackberry is ready to provide the Indian authorities with a way to intercept consumers’ messages sent and received on its platform. The news was revealed by the Times of India, which published part of a leaked government document. This would bring an end to a long-running dispute between the two sides. In 2010 the country had threatened to impose a ban on Blackberry devices, saying its secret services needed to be able to access suspects’ messages in order to prevent terrorist attacks. (BBC)', 'sortorder' => '1269', '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' => '1406', 'article_category_id' => '150', 'title' => 'Business Briefs (15 - 21 July 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>JCB’s Operator Meet</strong><br /> <br /> MAW Enterprises Pvt Ltd JCB Division, the sole distributor of JCB construction and heavy equipment organized an Operator Meet in Kathmandu. The Meet was attended by 49 operators. Operators were educated about operating machine safely and keeping it to increase the life of machine in the Meet. The operators were also offered free health checkup in the Meet.<br /> <br /> <br /> <img alt="samsung" src="/userfiles/images/samsung.jpg" style="width: 346px; height: 153px; margin: 10px;" /><br /> <br /> <strong>Samsung’s ‘Din Saat, Dhamaka Saath’ Scheme</strong><br /> <br /> Samsung launched a week-long scheme named ‘Din Saat, Dhamaka Saath’ that ended on 13 July 2013. With this scheme, customers received a free camera on the purchase of certain models of LED TVs. Also, the customers were offered discounts on the purchase of various models of LED TVs. The scheme received overwhelming response from customers and dealers, says a press release.<br /> <br /> <br /> <img alt="ncell" src="/userfiles/images/Ncell.jpg" style="width: 248px; height: 94px; margin: 10px;" /><br /> <br /> <strong>Ncell to Gift Galaxy S4 to 5 Customers Everyday</strong><br /> <br /> Ncell has launched a new scheme ‘Recharge and Win Phone’ under which five customers can win Samsung Galaxy S4 every day. Ncell customers topping up the balance with Rs 100 or more will be automatically registered for the lucky draw. The five winners will be decided through a lucky draw that will be held daily. The scheme started on 10 July and will last till a month. The scheme is open for all Ncell customers, including pre-paid and post-paid subscribers. All recharges done through recharge card, VFT and banks will be valid for registering the customers for the lucky draw.<br /> <br /> <br /> <img alt="royal" src="/userfiles/images/royal.jpg" style="margin: 10px;" /><br /> <br /> <strong>Royal Footwear’s Showroom in Dhangadhi</strong><br /> <br /> Royal Footwear Industry Pvt Ltd has opened its third showroom in Park Chowk of Dhangadhi. The company has been manufacturing casual, party, sports and school shoes along with sandals. The company provides a warranty of six months in all its products, and will open more showrooms in different parts of the country in near future, says a press release.<br /> <br /> <br /> <img alt="rajeshamal" src="/userfiles/images/rajeshhamal.jpg" style="width: 462px; height: 253px; border-width: 1px; border-style: solid; margin: 10px;" /><br /> <br /> <strong>Suzuki Motorcycles’ Showroom at Thapathali</strong><br /> <br /> Ganesh Enterprises Pvt Ltd has opened a new showroom pf Suzuki motorcycles at Thapathali. The showroom was jointly inaugurated by celebrities Rajesh Hamal and Komal Oli. On the same occasion, the company also launched Inazuma Gw, a 250cc motorbike.<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' => 'MAW Enterprises Pvt Ltd JCB Division, the sole distributor of JCB construction and heavy equipment organized an Operator Meet in Kathmandu. The Meet was attended by 49 operators. Operators were educated about operating machine safely and keeping it to increase the life of machine in the Meet. The operators were also offered free health checkup in the Meet.', 'sortorder' => '1268', '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' => '1405', 'article_category_id' => '134', 'title' => '‘We Are Soft Now, Shall Be Strict Soon’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;">Jiwan Prava Lama is the Director General of Department of Food Technology and Quality Control (DFTQC). In an interview with The Corporate’s Suraksha Adhikari, she talked about the present controversy about dairy products in Nepal and highlighted the plans of DFTQC for improving quality of foods in Nepali market. <strong>Excerpts: </strong></span></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1"> <tbody> <tr> <td> <img alt="Jiwan Prava Lama,Director General of Department of Food Technology and Quality Control (DFTQC)" src="/userfiles/images/lama.jpg" style="width: 250px; height: 309px;" /></td> </tr> <tr> <td style="text-align: center;"> <div> <strong>Jiwan Prava Lama</strong>,</div> <div> Director General</div> <div> Department of Food Technology and Quality Control</div> </td> </tr> </tbody> </table> <div> <strong>Your department has reported that sub-standard and non-edible foods are freely traded in the market. Does it imply a failure of regulators? </strong></div> <div> </div> <div> There are 181 standards for food. Within those standards there are 10 categories with various parameters. If the manufactured food doesn’t meet a single parameter, we consider it as a non-parameter. We do report such cases but food products that do not meet every parameter cannot be considered adulterated. Some of them are non-conformant, sub-standardized, and some are adulterated. All of these foods are not non-edible. Some of them can be eaten after applying some safety measures. </div> <div> </div> <div> We do not consider it as a failure of regulators as it comes under the food safety chain. The quality of food has to be ensured right from its production to the time it reaches the dining table. The food should be checked during production, packaging and even during consumption as even the wrong way of consumption can decrease its quality. </div> <div> </div> <div> <strong>Your department’s report on milk products in Kathmandu has caused a drastic reduction in consumption of processed milk, threatening both the dairy industry and dairy farming. What is your comment? </strong></div> <div> </div> <div> Our department monitored 14 dairy industries and collected 17 samples of milk. Among them, none had met all the parameters. A minimum of two percent of coliform was found in the milk, which does not meet our standard. In such a situation, certain actions are necessary to minimize such irregularities. We are taking action upon these dairies because of which consumption might have decreased. The government too has formed the National Dairy Development Board in order to reduce the adulteration of milk, thereby increasing its quality. </div> <div> </div> <div> <strong>You are also the head of Nepal Food Scientists and Technologists Association (NEFOSTA). What can your association do for resolving these issues? </strong></div> <div> </div> <div> NEFOSTA can play the role of an agent between the government and the industries and fill the gap of technical manpower in companies. There is a lack of skilled manpower in the dairy business because of which these problems are emerging. Our association can help the government by providing technical manpower to ensure quality food. </div> <div> </div> <div> <strong>It is alleged that your department’s campaign against contaminated milk is discriminatory as it punished Nepali dairies while imported milk was not checked. What is your comment? </strong></div> <div> </div> <div> Our department verifies the quality of milk within certain standards, norms and policies of the department. There are processes that we have to go through when we are performing each and every task. We are checking the quality of milk only on the basis of coliform now and penalizing those dairies where 0-1000 units of coliforms are found in the milk produced by them. Until now, we have been focusing on some soft punishments but we are moving towards some strict action soon. </div> <div> </div> <div> <strong>Your department is criticized also because it has come down harshly on registered dairies and neglected the unregistered ones, discouraging people from registering their dairies and coming under government tax net. What do you have to say? </strong></div> <div> </div> <div> It is the duty of local bodies of the concerned area to look after the registration of industries. Our task is to monitor the registered ones. If the local bodies perform their tasks properly, we could perform our work more effectively. But in our country, concerned sectors are not aware of the responsibilities provided by the law. Though the non-registered dairies don’t come under our scope of work, we are planning to investigate even them. We have not been able to go ahead for examining the quality of local dairies due to lack of skilled manpower, but we will be involving ourselves with them gradually. </div> <div> </div> <div> <strong>Five dairies are sealed by the government for contamination. What is your take on this? </strong></div> <div> </div> <div> We have sealed those dairies for the sake of improving the quality of milk. During the survey of dairies, those which failed to meet certain standards were sealed. But we are liberal on this issue as we can give permission to re-open the sealed diaries if they improve their standards. This action is a warning to the dairies to focus on quality production of milk. Kharipati Dairy was also sealed but when it improved its quality, we permitted its operation to resume. </div> <div> </div> <div> <strong>What further plans does the department have to increase the quality of food? </strong></div> <div> </div> <div> Presently, we are focusing on quality assurance of milk. There is still so much to be done in the issue of water contamination. After this, we are going into water purification. Sample collection is being done for the inspection of water. </div> <div> </div> <div> Further, we will be focusing on other domestic products and import-export products. Only goods that meet the legal provisions of Nepal and familiar to consumers here should be imported. We have also discussed with the government to work on the classification of the industries and in maintaining the standard of the Nepali market by developing good management practice in the market to assure Nepali people of quality goods.</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' => 'Jiwan Prava Lama is the Director General of Department of Food Technology and Quality Control (DFTQC). In an interview with The Corporate’s Suraksha Adhikari, she talked about the present controversy about dairy products in Nepal and highlighted the plans of DFTQC for improving quality of foods in Nepali market', 'sortorder' => '1267', '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' => '1404', 'article_category_id' => '149', 'title' => 'Steady Progress To The Top', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>Chairman Deepak Shrestha and Managing Director Amrit Pd Dwa with Brand Ambassador Rajesh Hamal (Center).</strong><br /> <br /> <br /> <br /> <br /> <strong>By Shruti Sonthalia</strong><br /> <br /> <br /> Nepatop, a manufacturing company of plastic water-storage tanks, compost bins, water pumps, pipes and fittings among other polythene-based products, was established in the year 1999 by Chairperson Deepak Shrestha and Managing Director Amrit Prasad Dwa. Friends prior to being colleagues, the duo got their acumen together to form what stands today as a respectable ISO certified company.<br /> <br /> Assuring as the tagline “Sab thikthak!” sounds, the journey of Nepatop as a business venture has indeed been alright. Major issues that pose challenge include the increasing rate of currency exchange which has nearly doubled since the time of the company’s birth. This of course adds to the cost of raw materials the company has to import.<br /> <br /> Other challenges include availability of labour – the lack of which can hamper the company’s progress. Nepatop, nevertheless, is sailing fine with 300 workers today. Shrestha, who believes that Nepalis ought to support their home economy instead of going abroad for opportunities, observes the changing patterns in human resource in his company: “Initially we had to hire engineers and trainers from abroad but today, I am proud to say that we have a strong Nepali manpower to complete the job,” he says.<br /> <br /> Nepatop started business by producing water storage tanks, has indeed been alright. Major issues that pose challenge include the increasing rate of currency exchange which has nearly doubled since the time of the company’s birth. This of course adds to the cost of raw materials the company has to import.<br /> <br /> Other challenges include availability of labour – the followed by water pumps, PPR pipes and fittings, HDPE pipes, UPVC pipes and fittings, and a new product is expected by 2014. The company aims to satisfy its customers by maintaining good quality and providing after-sale services, which is also a part of its marketing strategy. Additionally, Nepatop products are advertised in style with Rajesh Hamal as their brand ambassador.<br /> <br /> The company has four workstations three in the capital itself and one in Nuwakot, covering an area of 60,000 square feet all fully automatic plants producing 20- 25 metric tonne of goods per day. The market share for each of its products is different-the company has 75 percent of the market in PPR pipes, 16- 18 percent in water tanks, 25 percent in UPVC and less than 2-3 percent in HDPE.<br /> <br /> In terms of production capacity, the company still needs to achieve another 20- 25 percent of the current amount produced. But with 17 distribution channels in place countrywide, Nepatop seems to have good infrastructure in place to assure a steady progress in the future. Shrestha mentions that the company is one of the largest tax payers in the country. But on a more positive note, he forecasts with believable confidence that Nepatop will be the largest producers of plastic pipes and fittings by 2020.<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' => 'Nepatop, a manufacturing company of plastic water-storage tanks, compost bins, water pumps, pipes and fittings among other polythene-based products, was established in the year 1999 by Chairperson Deepak Shrestha and Managing Director Amrit Prasad Dwa. Friends prior to being colleagues, the duo got their acumen together to form what stands today as a respectable ISO certified company.', 'sortorder' => '1266', 'image' => '1373884811.jpg', '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' => '1403', 'article_category_id' => '122', 'title' => 'TM Dugar Group: Preserving Its Legacy', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By Gaurav Aryal</span></strong></div> <table align="right" border="0" cellpadding="1" cellspacing="1"> <tbody> <tr> <td> <img alt="Moti Lal Dugar,Chairman, TM Dugar Group" src="/userfiles/images/dugar2.jpg" style="width: 200px; height: 220px; margin: 5px 2px;" /></td> </tr> <tr> <td style="text-align: center;"> <div> <strong>Moti Lal Dugar</strong></div> <div> <span style="font-size: 12px;">Chairman, TM Dugar Group</span></div> </td> </tr> </tbody> </table> <div> </div> <div> T M Dugar Group of companies has a legacy of almost 140 years in Nepal. It was established by the first generation of businesspersons in the Dugar family and has carved a niche and a strong brand image for itself. The group today is far from its heyday, though it has not lost all of its charm. According to Chairman Moti Lal Dugar, the group has been hit hard by the prevailing gloom in the business environment. </div> <div> </div> <div> <strong>Sizing down </strong></div> <div> </div> <div> “The organised sector is treading a path of misery. We have felt that we are less capable to work in such an environment. So, without alleging anyone, we are closing some of our ventures,” Dugar expressed dissatisfaction. Bureaucratic hassles and procedural delays have been discouraging constraints in the business. Dugar also says that it is extremely difficult to run a business in current times. The group has closed down almost half a dozen manufacturing units. </div> <div> </div> <div> With no plans for expansion in the manufacturing sector, the group has kept itself in a ‘wait and watch’ mode and has decided to sustain those ventures that are doing relatively well. Says Dugar: “We do not have thoughts to pursue a new line of business today. We are instead concentrating on ways to sustain our ventures and even downsizing and closing some of them.” He says that doing business in current unfavourable environment is not an easy job and going for expansion at the moment would be a costly proposition. </div> <div> </div> <div> <strong>The Hydro Hope </strong></div> <div> </div> <div> Despite the depressing business climate, the group sees prospects in the hydropower industry. Although Dugar did not reveal the details of the project, he says the group is soon developing three hydropower plants. “Hydropower is the only sector where the future rests,” he claims. </div> <div> </div> <div> The group is currently waiting for the government’s approval of the projects and to sign the power purchase agreement (PPA) with the Nepal Electricity Authority (NEA). After filing an application for the PPA at NEA, things have yet to be finalised due to procedural delays. “We are ready from our side but we need the go ahead signal from the government,” Dugar shares.</div> <div> </div> <div> Dugar expects the construction phase to begin next year. While a detailed project report has already been completed, progress has stalled at the project development stage since the past five to six years. “The response of NEA is not encouraging. They invite investors but the government monopsony --NEA--is reluctant to purchase electricity. We do not have the provisions to sell power directly to the industries by paying wheeling charges to NEA for using their transmission line.” </div> <div> </div> <div> Initially, the group will make investments in the project solely, but Dugar is open to including locals and to inviting public shareholders once the construction begins. As the hydropower project is capital-intensive, the group has kept its doors open for external partners as well. Dugar believes that the hydropower sector of Nepal can only be developed when the government, investors, general public and the private sector can go hand in hand. </div> <div> </div> <div> <strong>Days of Glory </strong></div> <p> Chandmal Dugar--Moti Lal Dugar’s grandfather--first initiated business in Biratnagar with the trading of agro products like paddy, jute and textiles. Business later expanded into the processing of jute and setting up rice mills in different parts of the country. The group grew further during his son’s time, but it took a new turn under the leadership of his second grandson - Tolaram Dugar. After the death of his father, Tolaram shouldered all responsibilities of the group at the age of 28. Dugar credits his brother’s contributions in taking the business to new heights. Later, when the family split in the early 90s, the group was divided into three sub groups namely HC Dugar, KL Dugar and TM Dugar. Though the group split professionally, Dugar says that family relations are still going strong and united.</p> <div> </div> <div> <strong>Current Involvement </strong></div> <div> </div> <div> <img alt="" src="/userfiles/images/dgr3.jpg" style="float: right; width: 325px; height: 153px;" /></div> <div> TM Dugar Group has specialised in manufacturing of food grains such as rice, lentils and vegetable oils. It was the TM Dugar Group that set up modern rice mills in Dhangadhi in far-western Nepal and contributed in creating and expanding the market for agro products. Today, the group has a wide array of investments in banking, hydropower, automobiles, agro solutions, life insurance, FMCG products, agro based industries and automobiles, among others. The group is a major promoter of Sunrise Bank Ltd. and Gurans Life Insurance Co Ltd.--two public limited companies in the financial sector. The group stepped into the service industry through banking and insurance about seven years ago. </div> <div> </div> <div> The automobiles trading wing of the group imports and sells vehicles of the Japanese brand Nissan, buses and trucks from the Indian company Mahindra, motorcycles from Royal Enfield and tractors from John Deere. Similarly, Frooti and Appy are two soft drink brands that are produced by the TM Dugar Group in Nepal. In the days to come, the group plans to concentrate on the service <span style="font-size: 12px;">sector. Banking, life insurance and hydropower are some of the areas of its interest, although there are hints that the group will gradually be working under the model of public limited company. “Slowly we will go into the public limited model of doing business. Old businesses will continue as they are and the new ventures will be under this new model. Sunrise Bank and Gurans Life Insurance are public limited companies whereas the hydropower companies will also go public once they enter the construction phase,” Dugar says. </span></div> <div> </div> <div> <strong><img alt="Dugar Food and Beverage" src="/userfiles/images/dgr4.jpg" style="width: 500px; height: 380px; margin: 5px 25px;" /></strong></div> <div> <div> <strong>Management Style </strong></div> <div> </div> <div> The group has provided employment to more than 600 people in its various companies. However, Dugar says that the group’s latest strategy of business constriction allows no new employees to be hired. Though the company does not have layoff plans, vacancies are not being announced after employees resign. Human resource management is done professionally through a separate team at the TM Dugar Group. </div> <div> When it comes to making decisions, professionals and managers are given the right to make decisions on administrative and daily procedures. However, financial matters are left to the board to decide. </div> <div> Staying cautious in a ‘wait and watch mode’, the group does not have any plans other than venturing into hydropower generation. The group has its hopes pinned on this sector and it is a matter of time before it will begin developing power plants and find itself once again in expansion mode.</div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <strong><span style="font-size:14px;">AT A GLANCE</span></strong></div> <div> </div> <div> <strong>Financial Services</strong></div> <div> </div> <div> After trading and manufacturing, the TM Dugar Group ventured into the financial service sector. The first move into this sector was with Sunrise Bank Limited, an A class financial institution, in association with other business houses of Nepal. The bank has a paid-up capital of Rs 2.015 billion and authorised capital of Rs 5 billion. <span style="font-size: 12px;">Similarly, the next venture was in the life insurance business, which is believed to hold tremendous potentials. So, Gurans Life Insurance Company was established in 2008, six months after the Sunrise Bank, where the group is one of the major promoters. The company has a total authorised capital of Rs 500 million, out of which issued and paid-up capital accounts to Rs 360 million. Out of the total issued capital, 30 per cent has been allotted to the public through IPO and 70 per cent remains with the promoters. There are more than 26,000 shareholders in the company.</span></div> <div> <span style="font-size: 12px;"> </span></div> <div> <strong>Working Area </strong></div> <div> </div> <div> • Banking </div> <div> • Hydropower </div> <div> • Automobiles </div> <div> • Agro Solutions </div> <div> • Life Insurance </div> <div> • FMCG Products </div> <div> • Agro Based Industries</div> <div> </div> <div> <strong>Food Grains </strong></div> <div> </div> <div> The TM Dugar Group is an authorised supplier for the World Food Program (WFP), supplying food grains as per WFP standards for more than a decade. The TM Dugar Group also exports Nepali lentils to Bangladesh, India and other parts of the world. The group’s agro processing plants are situated in Birgunj, Nepalgunj and Dhangadhi. </div> <div> </div> <div> <strong>Corporate Social Responsibilities </strong></div> <div> </div> <div> The group has been regularly involved in various social causes since its establishment. There are two charitable trusts - Tolaram Malchand Dugar Charitable Trust and Motilal Vivek Dugar Charitable Trust - that support people by providing food, clothes, education, scholarships, medicines and surgery expenses. Some of the CSR activities the group has conducted thus far are:<span style="font-size: 12px;"> </span></div> <div> • Contribution to the construction of a wing in Nandi Madhyamik Vidyalaya, Naxal, Kathmandu. </div> <div> • Contribution to the construction of Bhagawan Mahavir Jain Niketan, Kathmandu </div> <div> • Contribution to the construction of Bhagawan Mahavir Jain Niketan, Birgunj </div> <div> • Contribution to the construction of Aditi Sadan, Biratnagar </div> <div> • Contribution to the construction of Jain Swetamber Terapanthi Sabha, Birgunj </div> <div> • Contribution to the construction of Jain Swetamber Terapanthi Sabha, Biratnagar </div> <div> • Construction of Tolaram Bhanwari Devi Chikitsalaya and Research Center, Biratnagar </div> <div> • Construction of schools, temples, homeopathic clinics and college buildings.</div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-09-04', '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' => 'T M Dugar Group of companies has a legacy of almost 140 years in Nepal. It was established by the first generation of businesspersons in the Dugar family and has carved a niche and a strong brand image for itself.', 'sortorder' => '1265', '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' => '1402', 'article_category_id' => '160', 'title' => 'Corptoon Issue 22', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" src="/userfiles/images/CORPTOON1A.jpg" style="width: 550px; height: 593px; margin: 5px 25px;" /></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' => 'Corptoon Issue 22', 'sortorder' => '1264', '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' => '1401', 'article_category_id' => '91', 'title' => 'About 511billion Budget For FY 2013-14', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div> <div> </div> <div> Ministry of Finance has prepared a government budget of about Rs 511 billion for FY 2013-1. The ordinances related to budget proposals had reached the President Office for approval when this matter was sent to the press. It was to be announced after getting the Presidential approval.</div> <div> </div> <div> The budget being announced today has no major new programme. However, it is regarded as better than that of several previous years as it is a ‘full budget’ while in the previous years there were truncated budgets. The last full-fledged budget was announced on FY 2011-12. The budget for 2013-14 has mainly focused on the so called ‘national pride projects’ and poverty alleviation programmes. </div> <div> </div> <div> The 2013-14 budget has also made provisions for the up-coming constitutional assembly elections. So, a huge portion of budget is being allocated for the security and increment of salary of the government employees. The size of the budget has increased due to the demand of increment of salary of government employees, stated a source.</div> <div> </div> <div> Similarly, the budget is also focused on energy, infrastructure development, agriculture and trade promotion.</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' => 'Ministry of Finance has prepared a government budget of about Rs 511 billion for FY 2013-1.', 'sortorder' => '1263', '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' => '1400', 'article_category_id' => '91', 'title' => 'Govt Fails To Keep Economy On Track', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></div> <div> </div> <div> The failure of the government to meet targeted economic growth rate paved a way for its setback. The Economic Survey 2012 made public by Finance Ministry this week shows that the government’s target of achieving 5.5 per cent economic growth in 2012-13 slipped by nearly 2 percent age points limiting at 3.6 per cent.</div> <div> </div> <div> In the first 11 months of current fiscal year, the national economy suffered from near double-digit inflation and ballooning trade deficit along with the low economic growth, the survey said. National economy has expanded to Rs 1,701 billion and per capita income of Nepalis edged up to Rs 62,797 from the Rs 58,274 recorded last year.</div> <div> </div> <div> However, per capita income in dollar terms reduced to US $721 from US$742 of last year. The government also failed to contain inflation at 7.5 per cent as predicted. Imbalance in supplies due to an almost double-digit decline in key farm products jacked up inflation to 8.2 per cent by mid-June this year, according to the survey.</div> <div> </div> <div> Skyrocketing trade deficit, which touched Rs 438.67 billion during the first 11 months of the current fiscal year, according to Nepal Rastra Bank data, has been identified as another challenge in the economy. Revenue mobilization however reached Rs 280 billion as of July 10 this year, which is close to the target of Rs 289 billion.</div> <div> </div> <div> The government also failed to expedite capital expenditure in the fiscal year 2012-13. Though the government announced a budget of Rs 404.82 billion for the current fiscal year, only Rs 317 billion was spent by July 10, according to the survey. The amount excludes expenditure in 15 districts where the Treasury Single Account (TSA) system has not been implemented so far.</div> <div> </div> <div> However, the balance of payments surplus of Rs 52.69 billion, a 21.3 percent rise in remittance inflow to touch Rs 388.46 billion and record high foreign exchange reserves worth Rs 511.69 billion at the end of the current fiscal year have brought cheer among officials.</div> <div> The Economic Survey also shows that the share of consumption in the Gross Domestic Product (GDP) increased to 90.7 percent this year from 87.3 percent recorded last year.</div> <div> </div> <div> During the first eight months of the current fiscal year, the government added 1,987 km transmission lines, 128 km black-topped roads, 169 km gravel roads and 194 km earth roads despite the low spending capacity of the government due to late announcement of a full budget.</div> <div> </div> <div> <strong> Whopping Trade Deficit</strong></div> <div> </div> <div> Nepal racked up more than Rs 441.33 billion in trade deficits in the first 11 months of current fiscal year, according to the Current Macroeconomic Situation of Nepal (Based on Eleven Months’ Data of 2012-13) released by Nepal Rastra Bank (NRB).</div> <div> </div> <div> In the first 11 months of fiscal year 2012-13, merchandise imports surged by 21.2 percent to Rs 508.60 billion. Such imports had risen by 16.8 percent to Rs. 419.57 billion during the corresponding period of the previous year. Total imports surged in the review period due mainly to the rapid increase in imports from India.</div> <div> However, exports had increased by only 6.3 percent to Rs 67.21 billion during the same period of the previous year. The growth of total export remained low in the review period due to the slowdown in exports to both India and other countries, according to the report of NRB.</div> <div> </div> <div> <img alt="Overall Economic Indicators of FY 2012-13" src="/userfiles/images/overall.jpg" style="width: 500px; height: 267px; margin: 10px 25px;" /></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' => 'The failure of the government to meet targeted economic growth rate paved a way for its setback.', 'sortorder' => '1262', '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' => '1399', 'article_category_id' => '34', 'title' => 'Etihad Airways Posts Record Results For Second Quarter And First Half Of 2013', 'sub_title' => '', 'summary' => null, 'content' => '<p> Etihad Airways announced its strongest second quarter and half-year financial performances on record, reflecting continued solid growth in its airline alliance strategy and global cargo operations. The national carrier of the United Arab Emirates achieved an eight per cent increase in Q2 2013 passenger revenues, generating US $921 million (2012: US $855 million), while passenger revenues for the first half of 2013 reached US $1.8 billion (2012: $1.6 billion), up by 13 per cent. <br /> <br /> Revenue generated by codeshare and equity alliance airline partners was US $184 million in Q2 2013. This was 25 per cent above the US $147 million turnover in the same period of 2012. Partnership revenue comprised 20 per cent of the airline’s total passenger revenue in both Q2 and the first half of 2013. The President and Chief Executive Officer of Etihad Airways, James Hogan, said the company’s Q2 and half year results were achieved despite the continuation of unsteady economic and geopolitical factors, with air fare yields slightly lower for the quarter, compressed by strong competitive capacity growth and resultant price competition.<br /> <br /> “Despite the tough global trading climate, we have still achieved record, double digit growth in both Q2 and the first half of 2013,” Hogan said. Etihad Cargo continued to achieve the strongest growth in the company, with 112,963tons uplifted in Q2 2013 (2012: 89,470 tons) and 215,124 tons in the first half of 2013 (2012: 174,622 tons). This reflected a massive 26 per cent growth in Q2 and 23 per cent growth for the first half of 2013. <br /> <br /> The growth in cargo volumes was underpinned by the delivery in Q2 of three new freighter aircraft – one Airbus A330-200F, one Boeing 777-200F and the company’s first Boeing 747-8F, which was wet leased from Atlas Air – taking the cargo fleet to nine. Cargo performance was further boosted by increased passenger services, providing more under-floor freight capacity.<br /> </p>', 'published' => true, 'created' => '2013-07-10', 'modified' => '2013-07-15', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Etihad Airways announced its strongest second quarter and half-year financial performances on record, reflecting continued solid growth in its airline alliance strategy and global cargo operations. The national carrier of the United Arab Emirates achieved an eight per cent increase in Q2 2013 passenger revenues, generating US $921 million (2012: US $855 million), while passenger revenues for the first half of 2013 reached US $1.8 billion (2012: $1.6 billion), up by 13 per cent.', 'sortorder' => '1261', '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
