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			'id' => '1278',
			'article_category_id' => '109',
			'title' => 'Royal-Rara-Api Merger Gains Pace',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace.&nbsp;</span></p>
<p>
	The three entities had asked for the permission for merger from central bank, Nepal Rastra Bank in Mid-July, 2012. But, these entities later asked for the extension of time duration for further three months i.e. till July 9, 2013. The reason behind this was said to be delay in the Due Diligence Audit (DDA) of the companies.&nbsp;</p>
<p>
	Now the DDA has been completed and the share swap ratio and number of members in the new board of directors have been finalized. The merged entity is to be a national level development bank with a proposed name of ‘Apex Development Bank Limited’. The capital of the newly formed entity will be Rs 666,563,200. The head office of the new development bank will be located at Darbar Marga, Kathmandu and will have 16 branches and 3 extension counters across the country.</p>',
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			'description' => 'The merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace.',
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			'id' => '1277',
			'article_category_id' => '109',
			'title' => 'Banking & ‘Others’ Lift Nepse Near 500',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><span style="font-size: 12px;">--By Rashesh Vaidya</span></strong></p>
<p>
	Nepse index increased by 7.97 points during previous week. It had closed 487.63 on Sunday, 23rd June (the first trading day of the week) and reached 495.60 at the close of Thursday, 27th June (the last trading day of the week). The market floor was open for five days.&nbsp;</p>
<p>
	In the week, the ‘others’ sub-index increased the highest by 14.10 points closing at 622.70 points. That was followed by the banking sector sub-index which increased by 10.58 points. Bank of Kathmandu was a major mover for last two days of the trading at Nepse with its announcement of a special general meeting on 21st July for the approval of merger proposal and for the election of board of directors.&nbsp;</p>
<p>
	Finance company sub-index increased by 2.26 points during the week. But the hotel, hydropower, insurance and development banks sub-indices declined.&nbsp;</p>
<p>
	There was no change in trading as well as in manufacturing and processing sub-indices during the week.&nbsp;</p>
<p>
	During the week, the promoters’ shares of Goodwill Finance dropped the highest by Rs 77 closing at Rs 108. A total of 24,530 scrips of the company were traded during the week.&nbsp;</p>
<p>
	Shares of 122 companies were traded at Nepse during the week through 6,114 transactions amounting to Rs 428,566,000. The transaction amount is 9.11 percent higher than that of earlier week. The total number of scrips traded was 2,602,977 which is 1,015,327 scrips more than that of earlier week.&nbsp;</p>
<p>
	Everest Bank topped the list in terms of transaction amount (Rs 47,430,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 857,892scrips of the fund were traded during the week.&nbsp;</p>
<p>
	Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (809).</p>
<p>
	<img alt="NEPSE" height="158" hspace="25" src="https://lh6.googleusercontent.com/-LldvAkEZvuM/UdJ0_lklesI/AAAAAAAAApE/6rxLYYUYj08/s600/nepse.jpg" width="600" /></p>
<hr />
<p>
	<strong style="font-size: 12px;">Nepse on Sunday</strong></p>
<p>
	Nepse Index closed at 493.13 points on Sunday (June 30). The index dropped by 2.41 points from the Thursday (June 27) close. Only the insurance sub-index saw a gain of 2.60 points closing at 875.69. The total of 331,083 shares was traded from 1185 transactions during a day. Similarly, the total of 1002674 and 134227 bonus shares of National Life Insurance and Navadurga Finance respectively have been listed this day.</p>
<div>
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			'description' => 'Nepse index increased by 7.97 points during previous week. It had closed 487.63 on Sunday, 23rd June (the first trading day of the week) and reached 495.60 at the close of Thursday, 27th June (the last trading day of the week). The market floor was open for five days.',
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			'title' => 'US Dollar Exchange At Local Market',
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			'created' => '2013-07-01',
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			'title' => 'Top Ten Gainers',
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	 </p>',
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			'title' => 'Top Ten Losers',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>',
			'published' => true,
			'created' => '2013-07-01',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => '',
			'sortorder' => '1135',
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			'title' => '10th Natiuonal Technologoical Festival',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Locus 2013, a group of fourth batch students of electronics and computer and electrical faculty organised the 10th National Technological Festival on June 28 at the premises of Pulchowk Campus. The three-day event was based on the theme of ‘Engineering Rural Development’. The exhibition of various hardware, software and electronics also took place in the programme. The festival was inaugurated by Anadnda Raj Khanal, the Director of Nepal Telecommunicatoions Authority (NTA), Prof Dr Subarna Shakya and Professor Timila Yami, assistant deans at the Institute of Engineering (IOE).</span></p>
<div>
	 </div>',
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			'description' => 'Locus 2013, a group of fourth batch students of electronics and computer and electrical faculty organised the 10th National Technological Festival on June 28 at the premises of Pulchowk Campus.',
			'sortorder' => '1134',
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			'title' => 'NSU Demands FSU Polls',
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			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The Nepal Student Union (NSU) affiliated with the Nepali Congress continued its relay hunger strike in front of the office of the vice chancellor of the Tribhuwan University demanding the date for the Free Student Union (FSU) elections at the earliest. NSU spokesperson UP Lamichane told The Corporate that they would organise more stringent protests if the demand is not addressed immediately. We will stage fast-unto-death if the TU fails to announce the date for polls right away, he said. The protesting students have also demanded that the TU implement its academic calendar in its affiliated colleges. The NSU has been carrying out relay strike at VC office gate for last four days.</span></p>',
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			'description' => 'The Nepal Student Union (NSU) affiliated with the Nepali Congress continued its relay hunger strike in front of the office of the vice chancellor of the Tribhuwan University demanding the date for the Free Student Union (FSU) elections at the earliest.',
			'sortorder' => '1133',
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			'title' => 'Creative Writing Course',
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			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">‘Wordmill: Creative Writing Workshops on Fiction and Non- Fiction’ has been concluded on June 29 in Kathmandu. The workshop was organized by Quixote’s Cove and was held at Thames International College in Old Baneshwor on Saturday. Noted writer Samrat Upadhyay along with two American writers Trevor Mackesey and John Thomas Howard shared their writing experiences in the workshop. Over 35 participated in the workshop.</span></p>',
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			'created' => '2013-07-01',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => '‘Wordmill: Creative Writing Workshops on Fiction and Non- Fiction’ has been concluded on June 29 in Kathmandu.',
			'sortorder' => '1132',
			'image' => null,
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			'id' => '1269',
			'article_category_id' => '156',
			'title' => 'Coercive Leadership May Lead To Innovation Erosion',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Global business leaders are over-reliant on a single leadership style, demotivating employees and holding back organisational performance as a result, says new research from global management consultancy, Hay Group. The study is based on an analysis of Hay Group’s Styles and Climate data, covering 95,000 leaders in over 2,200 organisations across the world.&nbsp;</span></p>
<p>
	According to the study, while good leadership is synonymous with flexibly tailoring the approach to suit the situation, one-third (36%) of leaders have mastered none or only one leadership style, compared to a quarter (26%) who are able to adopt a range of four or more styles.&nbsp;</p>
<p>
	This has a negative effect on working environments, with over half (55%) of leaders creating de-motivating climates. By contrast, just 19% of leaders are fostering high-performance workplaces. Compared to the global average of 55%, leaders in India are far from the ideal workplace environment, with 70% of leaders found creating a de-motivating climate for their employees. Both Brazil and China were found to have performed better in this aspect. The research also showed that 2 in every 3 Indian leaders (62%) opt for the ‘coercive’ leadership style, compared to just 37% globally.&nbsp;</p>
<p>
	Mohinish Sinha, leadership and talent practice leader at Hay Group India said in a release: “The leadership style in place directly affects the way people feel about working for an organisation - by creating what we call a ‘climate’. So the more leaders can improve the climate they create, the higher the performance of their team will be.” According to Sinha: “While the ‘coercive’ leadership style works well in a crisis or during a period of significant change, its overuse may lead to an erosion of innovation. It is the ‘coaching’ style of leadership that is most preferred in the Asian context - 81% of the most high-performing organisations had leaders using it as a dominant style. We find a ‘coaching’ leader focuses on building long-term capability, even at the expense of short-term performance.”&nbsp;</p>
<p>
	Leaders in EMEA (Europe, the Middle East and Africa) are the least flexible, with only one in five (22 per cent) able to use the recommended four or more leadership styles. Consequently, almost 57% are creating de-motivating climates.&nbsp;</p>
<p>
	In addition, two-thirds (66%) of Asian leaders create de-motivating climates - the worst of any global region - where just one quarter (24%) have mastered four or more leadership styles. A majority of Asian leaders (48%) have been found to be using the ‘coercive’ style of leadership. North American leaders create the most positive working environments - fewer than half (49%) of employees state that the organisational climate is de-motivating. However, there is still room for improvement.&nbsp;</p>
<p>
	(The Economic Times)</p>
<div>
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			'description' => 'Global business leaders are over-reliant on a single leadership style, demotivating employees and holding back organisational performance as a result, says new research from global management consultancy, Hay Group. The study is based on an analysis of Hay Group’s Styles and Climate data, covering 95,000 leaders in over 2,200 organisations across the world.',
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		'Article' => array(
			'id' => '1268',
			'article_category_id' => '34',
			'title' => '‘Our Students Can Compete With Those Of Any Other Colleges’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><strong>Dr Rajendra KC</strong> is the Principal &nbsp;</span><span style="font-size: 12px;">at Southwestern State College. <strong>Upashana Neupane</strong> of The Corporate talked with him about educational sector in Nepal and stand of his college to provide quality education. <strong>Excerpts:</strong></span></p>
<p>
	 </p>
<p>
	<strong><img alt="Dr Rajendra KC ,Principal  at Southwestern State College" height="147" src="https://lh4.googleusercontent.com/-80HkhfoaxXM/UdJn-hNDVpI/AAAAAAAAAoo/RtWYd8ZEd9g/s174/Dr%2520Rajendra%2520KC.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="137" />Private sector involvement in education sector is often criticized for over commercialization. What is your view? </strong></p>
<p>
	I disagree with the statement. Some private institutions activities are responsible for the criticism received by the entire sector. Every institution has to practice what they have agreed to while receiving affiliation from different Boards. All Institutions have to be healthy competitors to reduce criticism regarding the commercialization. There should be categorization in private institution for the private sector to be strong.&nbsp;</p>
<p>
	<strong>How do you assess higher secondary education in Nepal?&nbsp;</strong></p>
<p>
	Higher Secondary education Board (HSEB) should be more transparent and strict to provide quality education. HSEB has to monitor all the colleges time and again. HSEB should vie for providing quality education rather than increasing the number of colleges. Since its establishment, HSEB has provided the affiliations but its monitoring is very weak.</p>
<p>
	<strong>What are the top three priorities of your college to improve education sector?&nbsp;</strong></p>
<p>
	We have been different than others in providing quality education. Our college is an ISO 9001-2008 certified college and we have trained professionals and we carry out regular activities such as presentation classes and civic education classes. If I have to prioritize three things, then they would be presentation classes, research and social works for students.&nbsp;</p>
<p>
	<strong>What are your suggestions for the overall improvement of higher education?&nbsp;</strong></p>
<p>
	HSEB and TU should be stricter in their activities. Exams and other educational activities should be carried out on time. It appears that these two authorities have been very traditional. They should introduce programmmes and trainings for the betterment of students so that Nepali students can compete with the global market.&nbsp;</p>
<p>
	<strong>What are unique features of your college?&nbsp;</strong></p>
<p>
	We never say that we are the best, but what we claim is we don’t compromise on the quality of education. We are here to help students achieve success in their lives. In the beginning, we only had 136 students, but today we have a total of 1600 students in our college. We firmly believe that teaching and research should go hand in hand, and we try to do the same. We conduct regular presentation classes and make our students participate in social activities. I think our students can compete with those of any other colleges, and will prove successful in the international arena as well.</p>
<div>
	 </div>',
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			'description' => 'Dr Rajendra KC is the Principal  at Southwestern State College. Upashana Neupane of The Corporate talked with him about educational sector in Nepal and stand of his college to provide quality education.',
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			'title' => 'Not China, Nt India, It's Bangladesh',
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			'content' => '<p>
	 </p>',
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			'description' => 'Not China, Nt India, It's Bangladesh',
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			'title' => 'Desirable Fiscal Innovations @ 2013-14',
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			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">--</span><strong style="font-size: 12px;">By Madhukar SJB Rana</strong></p>
<p>
	<span style="font-size: 12px;">It is necessary to bring a unified legislation for budgetary limits to executive powers and the manner of accountability (of Ministers and Bureaucrats separately) along with procedures for maintaining transparency, providing data and analysis for enlightened debate and discourse in Parliament as well, monitored by the Parliamentary Committee on Finance. A rough draft Act was submitted by this author in late 2003. This now needs to be addressed for its pros and cons, needs and adequacy and promulgated by an Ordinance after due deliberations. The Korean and Indian legislations are very good examples for examining and drawing upon lessons. A desirable administrative innovation would be for all Senior Executives in the Ministry to enter into Management Performance Contract with the Minister and be accountable (a) to Minister for execution of Policies and Budget/s as per targets and (b) furthermore, the Secretary and Director Generals to be uniquely accountable to Parliament for omissions and commissions in the execution of the Financial Acts in their jurisdiction, and pursuance of the Directives and Recommendations of the Auditor General. This way the rule of the law will be safeguarded and thus, financial propriety will be advanced significantly.</span></p>
<p>
	<strong>Strengthen Revenue Forecasting &amp; Analysis&nbsp;</strong></p>
<p>
	Continuous, data-based research and analyses needs to be undertaken on a sophisticated manner using well known forecasting models to have a precise, firm overview of the revenue potential for Nepal as well as estimating the revenue and identification of causes.&nbsp;</p>
<p>
	These revenue forecasts must be made at the macro meso (functional) and micro (tax office) levels to obtain the fullest comprehension of the revenue potential based on the national and local economic structures. Local Tax Offices therefore, need, to be provided with simple forecasting models as instruments with which they can estimate the revenue potential of each district by total and type of taxes and other levies. Maximum effort should be made to garner ICT and GIS technologies locally. Local Tax Administrators should be duly encouraged, recognized and rewarded for such innovations.&nbsp;</p>
<p>
	Such knowledge will improve the budgetary process with a solid framework (at both the national and local levels) as plan in Nepal are not built around sophisticated, scientific estimates of expected revenues-- rather based on expenditures based on each ministry’s demand that are customarily inflated with simple ‘guesstimates’ for revenue based in past trends and probable inflation.&nbsp;</p>
<p>
	<strong>Reform Financial Administration Radically&nbsp;</strong></p>
<p>
	It can be underscored that along with financial and economic reforms, there is a need to restructure and re-engineer tax administration.&nbsp;</p>
<p>
	What is desired is the creation of Tax Authorities — rather than having Departments within the Ministry of Finance -- that are autonomous from the Ministry of Finance and made professional, free from political patronage. Such innovations in Peru and Zambia, for example, had revolutionary impact on resource mobilization where tax collection sky rocketed despite reducing the tax burden on the citizens!&nbsp;</p>
<p>
	This administrative reform will go a long way in creating the desirable ‘managerial civil service’ in Nepal and the revenue service cadres fully empowered and competent as tax professionalized to be able to mobilize up to 20% GDP as revenue by 2018. With this ratio of Revenue to GDP, foreign aid will not be calling the shots any longer: and we could have inclusive growth and development pursuing the national, rather than international, agenda.&nbsp;</p>
<p>
	When this happens, politics will take on a new meaning as party Manifestos will, then, be of worth and substance relying on national fiscal innovations rather than foreign aid-dictated policies and projects. More time and effort of the Ministry are spent to cater to the needs of foreign aid which contributes 3-4% of GDP only as compared to the private sectors that contribute 9-10% of the national economy with their suggestions for growth, employment and consumer protection.&nbsp;</p>
<p>
	<strong>Costing and Cost Control Modalities&nbsp;</strong></p>
<p>
	Another shortcoming in the budgetary process is the acute ineffectiveness of monitoring with a view to link the outputs with the inputs. This way financial and economic accountability will be more widened and deepened. The measurement of the efficiency, effectiveness as well as impact of the budget on a sector, program or project will be possible and will generate new policies from well grounded experience.</p>
<p>
	Eventually, as important sectors of the economy move toward a sector programming approach -- a veritable missing link in our planning process (due to the domination by the NPC and the ineffectiveness of the ministerial planning and coordination divisions) would be to innovate toward programme/performance budgeting for which costing studies and cost control mechanisms are vital innovations. When this will be achieved, no more will our planners be swamped by the irony of more P1 projects thanP2; and P2 than P3 ones! With very few of them being dropped to save the ‘face’, , of the ambassadors and their aid bureaucracies! We will be able to move rapidly towards the desired ‘managerial civil service’ alluded above—without which all dreams of double digit growth rates will remain mere naïve fantasies.</p>
<p>
	<strong>Lower Direct Taxes, Abolish VAT&nbsp;<span style="font-size: 12px;">Threshold, Raise Average VAT Rate&nbsp;</span><span style="font-size: 12px;">to 15% (but with Differential Rates&nbsp;</span><span style="font-size: 12px;">for Products and Services) and Levy&nbsp;</span><span style="font-size: 12px;">Agricultural Income Tax.</span></strong></p>
<p>
	Fine-tuning of taxation rates is necessary. Dividend tax should be abolished to encourage savings and investment. More retailers and wholesalers should be made to participate into the tax net and provided incentives must be provided to the local governments to mobilize the informal sector. Perhaps they may be allowed to levy, subject to central audit of the proceeds, a nominal turnover tax of say 0.5% of monthly turnover of local business not registered in PAN.&nbsp;</p>
<p>
	In order to advance fiscal devolution, agricultural income above Rs 200,000 per annum per household should also be taxed at 50% of the non-agricultural income tax. The proceeds should be 100% handed to the local governments at the ratio of 75% to the VDC and 25% to the DDC to make it politically palatable.</p>
<p>
	A massive public relations campaign should be engaged at the national level to motivate landlords-- the urban middle class self employed lawyers, doctors, engineers, consultants to pay their taxes. Tax brokers should be registered to guide tax payers and fill tax simplified returns.&nbsp;</p>
<p>
	<strong>Land Bank, FDI in Retail &amp; Resident Tourists&nbsp;</strong></p>
<p>
	Revisit the policy of Land Banks as a method for agriculture commercialization, including inviting FDI in retail trade and allowing foreigners to buy apartments as ‘resident tourists’.&nbsp;</p>
<p>
	<em>(Former Finance Minister Rana is currently a professor at SAIM)</em></p>
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	<span style="font-size: 12px;">The story regarding Higher Secondary School covered in the earlier issue of The Corporate was fine. Such types of events in the city will really enhance quality education among educational institutes. However, the story would have been better if more details of the colleges were given.&nbsp;</span></p>
<p>
	<em>- Bimala Neupane</em></p>
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	<span style="font-size: 12px;">Reaching the end of a job interview, the human resources person of the CG Group asked a young fresh MBA out of a famous Business School of Nepal, “And what starting salary were you looking for? “The MBA said, “In the neighborhood of 50,000 a month, depending on the benefits package. “The interviewer said, “Well, what would you say to a package of, 14 months' salary in a year, 18 paid holidays, 5 week's vacation, full medical and dental, PF and gratuity facility from the beginning, a company car with a driver, a secretary, office time from 12 to 5 PM, and no need to come to office during Bandha days? “The MBA sat up straight and said, “Wow! Are you kidding? “And the interviewer replied, “Yeah, but you started it.”&nbsp;</span></p>
<p>
	- ML</p>
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			'title' => 'Royal-Rara-Api Merger Gains Pace',
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	<span style="font-size: 12px;">The merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace.&nbsp;</span></p>
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	The three entities had asked for the permission for merger from central bank, Nepal Rastra Bank in Mid-July, 2012. But, these entities later asked for the extension of time duration for further three months i.e. till July 9, 2013. The reason behind this was said to be delay in the Due Diligence Audit (DDA) of the companies.&nbsp;</p>
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	Now the DDA has been completed and the share swap ratio and number of members in the new board of directors have been finalized. The merged entity is to be a national level development bank with a proposed name of ‘Apex Development Bank Limited’. The capital of the newly formed entity will be Rs 666,563,200. The head office of the new development bank will be located at Darbar Marga, Kathmandu and will have 16 branches and 3 extension counters across the country.</p>',
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			'title' => 'Banking & ‘Others’ Lift Nepse Near 500',
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	<strong><span style="font-size: 12px;">--By Rashesh Vaidya</span></strong></p>
<p>
	Nepse index increased by 7.97 points during previous week. It had closed 487.63 on Sunday, 23rd June (the first trading day of the week) and reached 495.60 at the close of Thursday, 27th June (the last trading day of the week). The market floor was open for five days.&nbsp;</p>
<p>
	In the week, the ‘others’ sub-index increased the highest by 14.10 points closing at 622.70 points. That was followed by the banking sector sub-index which increased by 10.58 points. Bank of Kathmandu was a major mover for last two days of the trading at Nepse with its announcement of a special general meeting on 21st July for the approval of merger proposal and for the election of board of directors.&nbsp;</p>
<p>
	Finance company sub-index increased by 2.26 points during the week. But the hotel, hydropower, insurance and development banks sub-indices declined.&nbsp;</p>
<p>
	There was no change in trading as well as in manufacturing and processing sub-indices during the week.&nbsp;</p>
<p>
	During the week, the promoters’ shares of Goodwill Finance dropped the highest by Rs 77 closing at Rs 108. A total of 24,530 scrips of the company were traded during the week.&nbsp;</p>
<p>
	Shares of 122 companies were traded at Nepse during the week through 6,114 transactions amounting to Rs 428,566,000. The transaction amount is 9.11 percent higher than that of earlier week. The total number of scrips traded was 2,602,977 which is 1,015,327 scrips more than that of earlier week.&nbsp;</p>
<p>
	Everest Bank topped the list in terms of transaction amount (Rs 47,430,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 857,892scrips of the fund were traded during the week.&nbsp;</p>
<p>
	Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (809).</p>
<p>
	<img alt="NEPSE" height="158" hspace="25" src="https://lh6.googleusercontent.com/-LldvAkEZvuM/UdJ0_lklesI/AAAAAAAAApE/6rxLYYUYj08/s600/nepse.jpg" width="600" /></p>
<hr />
<p>
	<strong style="font-size: 12px;">Nepse on Sunday</strong></p>
<p>
	Nepse Index closed at 493.13 points on Sunday (June 30). The index dropped by 2.41 points from the Thursday (June 27) close. Only the insurance sub-index saw a gain of 2.60 points closing at 875.69. The total of 331,083 shares was traded from 1185 transactions during a day. Similarly, the total of 1002674 and 134227 bonus shares of National Life Insurance and Navadurga Finance respectively have been listed this day.</p>
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	<span style="font-size: 12px;">Locus 2013, a group of fourth batch students of electronics and computer and electrical faculty organised the 10th National Technological Festival on June 28 at the premises of Pulchowk Campus. The three-day event was based on the theme of ‘Engineering Rural Development’. The exhibition of various hardware, software and electronics also took place in the programme. The festival was inaugurated by Anadnda Raj Khanal, the Director of Nepal Telecommunicatoions Authority (NTA), Prof Dr Subarna Shakya and Professor Timila Yami, assistant deans at the Institute of Engineering (IOE).</span></p>
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	<span style="font-size: 12px;">The Nepal Student Union (NSU) affiliated with the Nepali Congress continued its relay hunger strike in front of the office of the vice chancellor of the Tribhuwan University demanding the date for the Free Student Union (FSU) elections at the earliest. NSU spokesperson UP Lamichane told The Corporate that they would organise more stringent protests if the demand is not addressed immediately. We will stage fast-unto-death if the TU fails to announce the date for polls right away, he said. The protesting students have also demanded that the TU implement its academic calendar in its affiliated colleges. The NSU has been carrying out relay strike at VC office gate for last four days.</span></p>',
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			'description' => 'The Nepal Student Union (NSU) affiliated with the Nepali Congress continued its relay hunger strike in front of the office of the vice chancellor of the Tribhuwan University demanding the date for the Free Student Union (FSU) elections at the earliest.',
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			'id' => '1270',
			'article_category_id' => '154',
			'title' => 'Creative Writing Course',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">‘Wordmill: Creative Writing Workshops on Fiction and Non- Fiction’ has been concluded on June 29 in Kathmandu. The workshop was organized by Quixote’s Cove and was held at Thames International College in Old Baneshwor on Saturday. Noted writer Samrat Upadhyay along with two American writers Trevor Mackesey and John Thomas Howard shared their writing experiences in the workshop. Over 35 participated in the workshop.</span></p>',
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			'description' => '‘Wordmill: Creative Writing Workshops on Fiction and Non- Fiction’ has been concluded on June 29 in Kathmandu.',
			'sortorder' => '1132',
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			'id' => '1269',
			'article_category_id' => '156',
			'title' => 'Coercive Leadership May Lead To Innovation Erosion',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Global business leaders are over-reliant on a single leadership style, demotivating employees and holding back organisational performance as a result, says new research from global management consultancy, Hay Group. The study is based on an analysis of Hay Group’s Styles and Climate data, covering 95,000 leaders in over 2,200 organisations across the world.&nbsp;</span></p>
<p>
	According to the study, while good leadership is synonymous with flexibly tailoring the approach to suit the situation, one-third (36%) of leaders have mastered none or only one leadership style, compared to a quarter (26%) who are able to adopt a range of four or more styles.&nbsp;</p>
<p>
	This has a negative effect on working environments, with over half (55%) of leaders creating de-motivating climates. By contrast, just 19% of leaders are fostering high-performance workplaces. Compared to the global average of 55%, leaders in India are far from the ideal workplace environment, with 70% of leaders found creating a de-motivating climate for their employees. Both Brazil and China were found to have performed better in this aspect. The research also showed that 2 in every 3 Indian leaders (62%) opt for the ‘coercive’ leadership style, compared to just 37% globally.&nbsp;</p>
<p>
	Mohinish Sinha, leadership and talent practice leader at Hay Group India said in a release: “The leadership style in place directly affects the way people feel about working for an organisation - by creating what we call a ‘climate’. So the more leaders can improve the climate they create, the higher the performance of their team will be.” According to Sinha: “While the ‘coercive’ leadership style works well in a crisis or during a period of significant change, its overuse may lead to an erosion of innovation. It is the ‘coaching’ style of leadership that is most preferred in the Asian context - 81% of the most high-performing organisations had leaders using it as a dominant style. We find a ‘coaching’ leader focuses on building long-term capability, even at the expense of short-term performance.”&nbsp;</p>
<p>
	Leaders in EMEA (Europe, the Middle East and Africa) are the least flexible, with only one in five (22 per cent) able to use the recommended four or more leadership styles. Consequently, almost 57% are creating de-motivating climates.&nbsp;</p>
<p>
	In addition, two-thirds (66%) of Asian leaders create de-motivating climates - the worst of any global region - where just one quarter (24%) have mastered four or more leadership styles. A majority of Asian leaders (48%) have been found to be using the ‘coercive’ style of leadership. North American leaders create the most positive working environments - fewer than half (49%) of employees state that the organisational climate is de-motivating. However, there is still room for improvement.&nbsp;</p>
<p>
	(The Economic Times)</p>
<div>
	 </div>',
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			'description' => 'Global business leaders are over-reliant on a single leadership style, demotivating employees and holding back organisational performance as a result, says new research from global management consultancy, Hay Group. The study is based on an analysis of Hay Group’s Styles and Climate data, covering 95,000 leaders in over 2,200 organisations across the world.',
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		'Article' => array(
			'id' => '1268',
			'article_category_id' => '34',
			'title' => '‘Our Students Can Compete With Those Of Any Other Colleges’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><strong>Dr Rajendra KC</strong> is the Principal &nbsp;</span><span style="font-size: 12px;">at Southwestern State College. <strong>Upashana Neupane</strong> of The Corporate talked with him about educational sector in Nepal and stand of his college to provide quality education. <strong>Excerpts:</strong></span></p>
<p>
	 </p>
<p>
	<strong><img alt="Dr Rajendra KC ,Principal  at Southwestern State College" height="147" src="https://lh4.googleusercontent.com/-80HkhfoaxXM/UdJn-hNDVpI/AAAAAAAAAoo/RtWYd8ZEd9g/s174/Dr%2520Rajendra%2520KC.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="137" />Private sector involvement in education sector is often criticized for over commercialization. What is your view? </strong></p>
<p>
	I disagree with the statement. Some private institutions activities are responsible for the criticism received by the entire sector. Every institution has to practice what they have agreed to while receiving affiliation from different Boards. All Institutions have to be healthy competitors to reduce criticism regarding the commercialization. There should be categorization in private institution for the private sector to be strong.&nbsp;</p>
<p>
	<strong>How do you assess higher secondary education in Nepal?&nbsp;</strong></p>
<p>
	Higher Secondary education Board (HSEB) should be more transparent and strict to provide quality education. HSEB has to monitor all the colleges time and again. HSEB should vie for providing quality education rather than increasing the number of colleges. Since its establishment, HSEB has provided the affiliations but its monitoring is very weak.</p>
<p>
	<strong>What are the top three priorities of your college to improve education sector?&nbsp;</strong></p>
<p>
	We have been different than others in providing quality education. Our college is an ISO 9001-2008 certified college and we have trained professionals and we carry out regular activities such as presentation classes and civic education classes. If I have to prioritize three things, then they would be presentation classes, research and social works for students.&nbsp;</p>
<p>
	<strong>What are your suggestions for the overall improvement of higher education?&nbsp;</strong></p>
<p>
	HSEB and TU should be stricter in their activities. Exams and other educational activities should be carried out on time. It appears that these two authorities have been very traditional. They should introduce programmmes and trainings for the betterment of students so that Nepali students can compete with the global market.&nbsp;</p>
<p>
	<strong>What are unique features of your college?&nbsp;</strong></p>
<p>
	We never say that we are the best, but what we claim is we don’t compromise on the quality of education. We are here to help students achieve success in their lives. In the beginning, we only had 136 students, but today we have a total of 1600 students in our college. We firmly believe that teaching and research should go hand in hand, and we try to do the same. We conduct regular presentation classes and make our students participate in social activities. I think our students can compete with those of any other colleges, and will prove successful in the international arena as well.</p>
<div>
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			'description' => 'Dr Rajendra KC is the Principal  at Southwestern State College. Upashana Neupane of The Corporate talked with him about educational sector in Nepal and stand of his college to provide quality education.',
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			'title' => 'Not China, Nt India, It's Bangladesh',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>',
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			'created' => '2013-07-01',
			'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' => 'Not China, Nt India, It's Bangladesh',
			'sortorder' => '1129',
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			'article_date' => '0000-00-00 00:00:00',
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			'id' => '1266',
			'article_category_id' => '145',
			'title' => 'Desirable Fiscal Innovations @ 2013-14',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">--</span><strong style="font-size: 12px;">By Madhukar SJB Rana</strong></p>
<p>
	<span style="font-size: 12px;">It is necessary to bring a unified legislation for budgetary limits to executive powers and the manner of accountability (of Ministers and Bureaucrats separately) along with procedures for maintaining transparency, providing data and analysis for enlightened debate and discourse in Parliament as well, monitored by the Parliamentary Committee on Finance. A rough draft Act was submitted by this author in late 2003. This now needs to be addressed for its pros and cons, needs and adequacy and promulgated by an Ordinance after due deliberations. The Korean and Indian legislations are very good examples for examining and drawing upon lessons. A desirable administrative innovation would be for all Senior Executives in the Ministry to enter into Management Performance Contract with the Minister and be accountable (a) to Minister for execution of Policies and Budget/s as per targets and (b) furthermore, the Secretary and Director Generals to be uniquely accountable to Parliament for omissions and commissions in the execution of the Financial Acts in their jurisdiction, and pursuance of the Directives and Recommendations of the Auditor General. This way the rule of the law will be safeguarded and thus, financial propriety will be advanced significantly.</span></p>
<p>
	<strong>Strengthen Revenue Forecasting &amp; Analysis&nbsp;</strong></p>
<p>
	Continuous, data-based research and analyses needs to be undertaken on a sophisticated manner using well known forecasting models to have a precise, firm overview of the revenue potential for Nepal as well as estimating the revenue and identification of causes.&nbsp;</p>
<p>
	These revenue forecasts must be made at the macro meso (functional) and micro (tax office) levels to obtain the fullest comprehension of the revenue potential based on the national and local economic structures. Local Tax Offices therefore, need, to be provided with simple forecasting models as instruments with which they can estimate the revenue potential of each district by total and type of taxes and other levies. Maximum effort should be made to garner ICT and GIS technologies locally. Local Tax Administrators should be duly encouraged, recognized and rewarded for such innovations.&nbsp;</p>
<p>
	Such knowledge will improve the budgetary process with a solid framework (at both the national and local levels) as plan in Nepal are not built around sophisticated, scientific estimates of expected revenues-- rather based on expenditures based on each ministry’s demand that are customarily inflated with simple ‘guesstimates’ for revenue based in past trends and probable inflation.&nbsp;</p>
<p>
	<strong>Reform Financial Administration Radically&nbsp;</strong></p>
<p>
	It can be underscored that along with financial and economic reforms, there is a need to restructure and re-engineer tax administration.&nbsp;</p>
<p>
	What is desired is the creation of Tax Authorities — rather than having Departments within the Ministry of Finance -- that are autonomous from the Ministry of Finance and made professional, free from political patronage. Such innovations in Peru and Zambia, for example, had revolutionary impact on resource mobilization where tax collection sky rocketed despite reducing the tax burden on the citizens!&nbsp;</p>
<p>
	This administrative reform will go a long way in creating the desirable ‘managerial civil service’ in Nepal and the revenue service cadres fully empowered and competent as tax professionalized to be able to mobilize up to 20% GDP as revenue by 2018. With this ratio of Revenue to GDP, foreign aid will not be calling the shots any longer: and we could have inclusive growth and development pursuing the national, rather than international, agenda.&nbsp;</p>
<p>
	When this happens, politics will take on a new meaning as party Manifestos will, then, be of worth and substance relying on national fiscal innovations rather than foreign aid-dictated policies and projects. More time and effort of the Ministry are spent to cater to the needs of foreign aid which contributes 3-4% of GDP only as compared to the private sectors that contribute 9-10% of the national economy with their suggestions for growth, employment and consumer protection.&nbsp;</p>
<p>
	<strong>Costing and Cost Control Modalities&nbsp;</strong></p>
<p>
	Another shortcoming in the budgetary process is the acute ineffectiveness of monitoring with a view to link the outputs with the inputs. This way financial and economic accountability will be more widened and deepened. The measurement of the efficiency, effectiveness as well as impact of the budget on a sector, program or project will be possible and will generate new policies from well grounded experience.</p>
<p>
	Eventually, as important sectors of the economy move toward a sector programming approach -- a veritable missing link in our planning process (due to the domination by the NPC and the ineffectiveness of the ministerial planning and coordination divisions) would be to innovate toward programme/performance budgeting for which costing studies and cost control mechanisms are vital innovations. When this will be achieved, no more will our planners be swamped by the irony of more P1 projects thanP2; and P2 than P3 ones! With very few of them being dropped to save the ‘face’, , of the ambassadors and their aid bureaucracies! We will be able to move rapidly towards the desired ‘managerial civil service’ alluded above—without which all dreams of double digit growth rates will remain mere naïve fantasies.</p>
<p>
	<strong>Lower Direct Taxes, Abolish VAT&nbsp;<span style="font-size: 12px;">Threshold, Raise Average VAT Rate&nbsp;</span><span style="font-size: 12px;">to 15% (but with Differential Rates&nbsp;</span><span style="font-size: 12px;">for Products and Services) and Levy&nbsp;</span><span style="font-size: 12px;">Agricultural Income Tax.</span></strong></p>
<p>
	Fine-tuning of taxation rates is necessary. Dividend tax should be abolished to encourage savings and investment. More retailers and wholesalers should be made to participate into the tax net and provided incentives must be provided to the local governments to mobilize the informal sector. Perhaps they may be allowed to levy, subject to central audit of the proceeds, a nominal turnover tax of say 0.5% of monthly turnover of local business not registered in PAN.&nbsp;</p>
<p>
	In order to advance fiscal devolution, agricultural income above Rs 200,000 per annum per household should also be taxed at 50% of the non-agricultural income tax. The proceeds should be 100% handed to the local governments at the ratio of 75% to the VDC and 25% to the DDC to make it politically palatable.</p>
<p>
	A massive public relations campaign should be engaged at the national level to motivate landlords-- the urban middle class self employed lawyers, doctors, engineers, consultants to pay their taxes. Tax brokers should be registered to guide tax payers and fill tax simplified returns.&nbsp;</p>
<p>
	<strong>Land Bank, FDI in Retail &amp; Resident Tourists&nbsp;</strong></p>
<p>
	Revisit the policy of Land Banks as a method for agriculture commercialization, including inviting FDI in retail trade and allowing foreigners to buy apartments as ‘resident tourists’.&nbsp;</p>
<p>
	<em>(Former Finance Minister Rana is currently a professor at SAIM)</em></p>
<div>
	 </div>',
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			'title' => 'A Compliment',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The story regarding Higher Secondary School covered in the earlier issue of The Corporate was fine. Such types of events in the city will really enhance quality education among educational institutes. However, the story would have been better if more details of the colleges were given.&nbsp;</span></p>
<p>
	<em>- Bimala Neupane</em></p>
<div>
	 </div>',
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			'description' => 'The story regarding Higher Secondary School covered in the earlier issue of The Corporate was fine. .',
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			'title' => 'An MBA In Interview',
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			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Reaching the end of a job interview, the human resources person of the CG Group asked a young fresh MBA out of a famous Business School of Nepal, “And what starting salary were you looking for? “The MBA said, “In the neighborhood of 50,000 a month, depending on the benefits package. “The interviewer said, “Well, what would you say to a package of, 14 months' salary in a year, 18 paid holidays, 5 week's vacation, full medical and dental, PF and gratuity facility from the beginning, a company car with a driver, a secretary, office time from 12 to 5 PM, and no need to come to office during Bandha days? “The MBA sat up straight and said, “Wow! Are you kidding? “And the interviewer replied, “Yeah, but you started it.”&nbsp;</span></p>
<p>
	- ML</p>
<div>
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			'title' => 'Royal-Rara-Api Merger Gains Pace',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace.&nbsp;</span></p>
<p>
	The three entities had asked for the permission for merger from central bank, Nepal Rastra Bank in Mid-July, 2012. But, these entities later asked for the extension of time duration for further three months i.e. till July 9, 2013. The reason behind this was said to be delay in the Due Diligence Audit (DDA) of the companies.&nbsp;</p>
<p>
	Now the DDA has been completed and the share swap ratio and number of members in the new board of directors have been finalized. The merged entity is to be a national level development bank with a proposed name of ‘Apex Development Bank Limited’. The capital of the newly formed entity will be Rs 666,563,200. The head office of the new development bank will be located at Darbar Marga, Kathmandu and will have 16 branches and 3 extension counters across the country.</p>',
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	(int) 1 => array(
		'Article' => array(
			'id' => '1277',
			'article_category_id' => '109',
			'title' => 'Banking & ‘Others’ Lift Nepse Near 500',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><span style="font-size: 12px;">--By Rashesh Vaidya</span></strong></p>
<p>
	Nepse index increased by 7.97 points during previous week. It had closed 487.63 on Sunday, 23rd June (the first trading day of the week) and reached 495.60 at the close of Thursday, 27th June (the last trading day of the week). The market floor was open for five days.&nbsp;</p>
<p>
	In the week, the ‘others’ sub-index increased the highest by 14.10 points closing at 622.70 points. That was followed by the banking sector sub-index which increased by 10.58 points. Bank of Kathmandu was a major mover for last two days of the trading at Nepse with its announcement of a special general meeting on 21st July for the approval of merger proposal and for the election of board of directors.&nbsp;</p>
<p>
	Finance company sub-index increased by 2.26 points during the week. But the hotel, hydropower, insurance and development banks sub-indices declined.&nbsp;</p>
<p>
	There was no change in trading as well as in manufacturing and processing sub-indices during the week.&nbsp;</p>
<p>
	During the week, the promoters’ shares of Goodwill Finance dropped the highest by Rs 77 closing at Rs 108. A total of 24,530 scrips of the company were traded during the week.&nbsp;</p>
<p>
	Shares of 122 companies were traded at Nepse during the week through 6,114 transactions amounting to Rs 428,566,000. The transaction amount is 9.11 percent higher than that of earlier week. The total number of scrips traded was 2,602,977 which is 1,015,327 scrips more than that of earlier week.&nbsp;</p>
<p>
	Everest Bank topped the list in terms of transaction amount (Rs 47,430,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 857,892scrips of the fund were traded during the week.&nbsp;</p>
<p>
	Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (809).</p>
<p>
	<img alt="NEPSE" height="158" hspace="25" src="https://lh6.googleusercontent.com/-LldvAkEZvuM/UdJ0_lklesI/AAAAAAAAApE/6rxLYYUYj08/s600/nepse.jpg" width="600" /></p>
<hr />
<p>
	<strong style="font-size: 12px;">Nepse on Sunday</strong></p>
<p>
	Nepse Index closed at 493.13 points on Sunday (June 30). The index dropped by 2.41 points from the Thursday (June 27) close. Only the insurance sub-index saw a gain of 2.60 points closing at 875.69. The total of 331,083 shares was traded from 1185 transactions during a day. Similarly, the total of 1002674 and 134227 bonus shares of National Life Insurance and Navadurga Finance respectively have been listed this day.</p>
<div>
	 </div>',
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			'description' => 'Nepse index increased by 7.97 points during previous week. It had closed 487.63 on Sunday, 23rd June (the first trading day of the week) and reached 495.60 at the close of Thursday, 27th June (the last trading day of the week). The market floor was open for five days.',
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			'article_category_id' => '113',
			'title' => 'US Dollar Exchange At Local Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-07-01',
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			'id' => '1275',
			'article_category_id' => '112',
			'title' => 'Weekly Gold And Silver Price',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>',
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			'description' => '',
			'sortorder' => '1137',
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			'id' => '1274',
			'article_category_id' => '111',
			'title' => 'Top Ten Gainers',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>',
			'published' => true,
			'created' => '2013-07-01',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => '',
			'sortorder' => '1136',
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		'Article' => array(
			'id' => '1273',
			'article_category_id' => '110',
			'title' => 'Top Ten Losers',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>',
			'published' => true,
			'created' => '2013-07-01',
			'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' => '',
			'sortorder' => '1135',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 6 => array(
		'Article' => array(
			'id' => '1272',
			'article_category_id' => '154',
			'title' => '10th Natiuonal Technologoical Festival',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Locus 2013, a group of fourth batch students of electronics and computer and electrical faculty organised the 10th National Technological Festival on June 28 at the premises of Pulchowk Campus. The three-day event was based on the theme of ‘Engineering Rural Development’. The exhibition of various hardware, software and electronics also took place in the programme. The festival was inaugurated by Anadnda Raj Khanal, the Director of Nepal Telecommunicatoions Authority (NTA), Prof Dr Subarna Shakya and Professor Timila Yami, assistant deans at the Institute of Engineering (IOE).</span></p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-07-01',
			'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' => 'Locus 2013, a group of fourth batch students of electronics and computer and electrical faculty organised the 10th National Technological Festival on June 28 at the premises of Pulchowk Campus.',
			'sortorder' => '1134',
			'image' => null,
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		'Article' => array(
			'id' => '1271',
			'article_category_id' => '154',
			'title' => 'NSU Demands FSU Polls',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The Nepal Student Union (NSU) affiliated with the Nepali Congress continued its relay hunger strike in front of the office of the vice chancellor of the Tribhuwan University demanding the date for the Free Student Union (FSU) elections at the earliest. NSU spokesperson UP Lamichane told The Corporate that they would organise more stringent protests if the demand is not addressed immediately. We will stage fast-unto-death if the TU fails to announce the date for polls right away, he said. The protesting students have also demanded that the TU implement its academic calendar in its affiliated colleges. The NSU has been carrying out relay strike at VC office gate for last four days.</span></p>',
			'published' => true,
			'created' => '2013-07-01',
			'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 Nepal Student Union (NSU) affiliated with the Nepali Congress continued its relay hunger strike in front of the office of the vice chancellor of the Tribhuwan University demanding the date for the Free Student Union (FSU) elections at the earliest.',
			'sortorder' => '1133',
			'image' => null,
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	(int) 8 => array(
		'Article' => array(
			'id' => '1270',
			'article_category_id' => '154',
			'title' => 'Creative Writing Course',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">‘Wordmill: Creative Writing Workshops on Fiction and Non- Fiction’ has been concluded on June 29 in Kathmandu. The workshop was organized by Quixote’s Cove and was held at Thames International College in Old Baneshwor on Saturday. Noted writer Samrat Upadhyay along with two American writers Trevor Mackesey and John Thomas Howard shared their writing experiences in the workshop. Over 35 participated in the workshop.</span></p>',
			'published' => true,
			'created' => '2013-07-01',
			'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' => '‘Wordmill: Creative Writing Workshops on Fiction and Non- Fiction’ has been concluded on June 29 in Kathmandu.',
			'sortorder' => '1132',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1269',
			'article_category_id' => '156',
			'title' => 'Coercive Leadership May Lead To Innovation Erosion',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Global business leaders are over-reliant on a single leadership style, demotivating employees and holding back organisational performance as a result, says new research from global management consultancy, Hay Group. The study is based on an analysis of Hay Group’s Styles and Climate data, covering 95,000 leaders in over 2,200 organisations across the world.&nbsp;</span></p>
<p>
	According to the study, while good leadership is synonymous with flexibly tailoring the approach to suit the situation, one-third (36%) of leaders have mastered none or only one leadership style, compared to a quarter (26%) who are able to adopt a range of four or more styles.&nbsp;</p>
<p>
	This has a negative effect on working environments, with over half (55%) of leaders creating de-motivating climates. By contrast, just 19% of leaders are fostering high-performance workplaces. Compared to the global average of 55%, leaders in India are far from the ideal workplace environment, with 70% of leaders found creating a de-motivating climate for their employees. Both Brazil and China were found to have performed better in this aspect. The research also showed that 2 in every 3 Indian leaders (62%) opt for the ‘coercive’ leadership style, compared to just 37% globally.&nbsp;</p>
<p>
	Mohinish Sinha, leadership and talent practice leader at Hay Group India said in a release: “The leadership style in place directly affects the way people feel about working for an organisation - by creating what we call a ‘climate’. So the more leaders can improve the climate they create, the higher the performance of their team will be.” According to Sinha: “While the ‘coercive’ leadership style works well in a crisis or during a period of significant change, its overuse may lead to an erosion of innovation. It is the ‘coaching’ style of leadership that is most preferred in the Asian context - 81% of the most high-performing organisations had leaders using it as a dominant style. We find a ‘coaching’ leader focuses on building long-term capability, even at the expense of short-term performance.”&nbsp;</p>
<p>
	Leaders in EMEA (Europe, the Middle East and Africa) are the least flexible, with only one in five (22 per cent) able to use the recommended four or more leadership styles. Consequently, almost 57% are creating de-motivating climates.&nbsp;</p>
<p>
	In addition, two-thirds (66%) of Asian leaders create de-motivating climates - the worst of any global region - where just one quarter (24%) have mastered four or more leadership styles. A majority of Asian leaders (48%) have been found to be using the ‘coercive’ style of leadership. North American leaders create the most positive working environments - fewer than half (49%) of employees state that the organisational climate is de-motivating. However, there is still room for improvement.&nbsp;</p>
<p>
	(The Economic Times)</p>
<div>
	 </div>',
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			'description' => 'Global business leaders are over-reliant on a single leadership style, demotivating employees and holding back organisational performance as a result, says new research from global management consultancy, Hay Group. The study is based on an analysis of Hay Group’s Styles and Climate data, covering 95,000 leaders in over 2,200 organisations across the world.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1268',
			'article_category_id' => '34',
			'title' => '‘Our Students Can Compete With Those Of Any Other Colleges’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><strong>Dr Rajendra KC</strong> is the Principal &nbsp;</span><span style="font-size: 12px;">at Southwestern State College. <strong>Upashana Neupane</strong> of The Corporate talked with him about educational sector in Nepal and stand of his college to provide quality education. <strong>Excerpts:</strong></span></p>
<p>
	 </p>
<p>
	<strong><img alt="Dr Rajendra KC ,Principal  at Southwestern State College" height="147" src="https://lh4.googleusercontent.com/-80HkhfoaxXM/UdJn-hNDVpI/AAAAAAAAAoo/RtWYd8ZEd9g/s174/Dr%2520Rajendra%2520KC.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="137" />Private sector involvement in education sector is often criticized for over commercialization. What is your view? </strong></p>
<p>
	I disagree with the statement. Some private institutions activities are responsible for the criticism received by the entire sector. Every institution has to practice what they have agreed to while receiving affiliation from different Boards. All Institutions have to be healthy competitors to reduce criticism regarding the commercialization. There should be categorization in private institution for the private sector to be strong.&nbsp;</p>
<p>
	<strong>How do you assess higher secondary education in Nepal?&nbsp;</strong></p>
<p>
	Higher Secondary education Board (HSEB) should be more transparent and strict to provide quality education. HSEB has to monitor all the colleges time and again. HSEB should vie for providing quality education rather than increasing the number of colleges. Since its establishment, HSEB has provided the affiliations but its monitoring is very weak.</p>
<p>
	<strong>What are the top three priorities of your college to improve education sector?&nbsp;</strong></p>
<p>
	We have been different than others in providing quality education. Our college is an ISO 9001-2008 certified college and we have trained professionals and we carry out regular activities such as presentation classes and civic education classes. If I have to prioritize three things, then they would be presentation classes, research and social works for students.&nbsp;</p>
<p>
	<strong>What are your suggestions for the overall improvement of higher education?&nbsp;</strong></p>
<p>
	HSEB and TU should be stricter in their activities. Exams and other educational activities should be carried out on time. It appears that these two authorities have been very traditional. They should introduce programmmes and trainings for the betterment of students so that Nepali students can compete with the global market.&nbsp;</p>
<p>
	<strong>What are unique features of your college?&nbsp;</strong></p>
<p>
	We never say that we are the best, but what we claim is we don’t compromise on the quality of education. We are here to help students achieve success in their lives. In the beginning, we only had 136 students, but today we have a total of 1600 students in our college. We firmly believe that teaching and research should go hand in hand, and we try to do the same. We conduct regular presentation classes and make our students participate in social activities. I think our students can compete with those of any other colleges, and will prove successful in the international arena as well.</p>
<div>
	 </div>',
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			'description' => 'Dr Rajendra KC is the Principal  at Southwestern State College. Upashana Neupane of The Corporate talked with him about educational sector in Nepal and stand of his college to provide quality education.',
			'sortorder' => '1130',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1267',
			'article_category_id' => '146',
			'title' => 'Not China, Nt India, It's Bangladesh',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>',
			'published' => true,
			'created' => '2013-07-01',
			'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' => 'Not China, Nt India, It's Bangladesh',
			'sortorder' => '1129',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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			'main_news' => false,
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	(int) 12 => array(
		'Article' => array(
			'id' => '1266',
			'article_category_id' => '145',
			'title' => 'Desirable Fiscal Innovations @ 2013-14',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">--</span><strong style="font-size: 12px;">By Madhukar SJB Rana</strong></p>
<p>
	<span style="font-size: 12px;">It is necessary to bring a unified legislation for budgetary limits to executive powers and the manner of accountability (of Ministers and Bureaucrats separately) along with procedures for maintaining transparency, providing data and analysis for enlightened debate and discourse in Parliament as well, monitored by the Parliamentary Committee on Finance. A rough draft Act was submitted by this author in late 2003. This now needs to be addressed for its pros and cons, needs and adequacy and promulgated by an Ordinance after due deliberations. The Korean and Indian legislations are very good examples for examining and drawing upon lessons. A desirable administrative innovation would be for all Senior Executives in the Ministry to enter into Management Performance Contract with the Minister and be accountable (a) to Minister for execution of Policies and Budget/s as per targets and (b) furthermore, the Secretary and Director Generals to be uniquely accountable to Parliament for omissions and commissions in the execution of the Financial Acts in their jurisdiction, and pursuance of the Directives and Recommendations of the Auditor General. This way the rule of the law will be safeguarded and thus, financial propriety will be advanced significantly.</span></p>
<p>
	<strong>Strengthen Revenue Forecasting &amp; Analysis&nbsp;</strong></p>
<p>
	Continuous, data-based research and analyses needs to be undertaken on a sophisticated manner using well known forecasting models to have a precise, firm overview of the revenue potential for Nepal as well as estimating the revenue and identification of causes.&nbsp;</p>
<p>
	These revenue forecasts must be made at the macro meso (functional) and micro (tax office) levels to obtain the fullest comprehension of the revenue potential based on the national and local economic structures. Local Tax Offices therefore, need, to be provided with simple forecasting models as instruments with which they can estimate the revenue potential of each district by total and type of taxes and other levies. Maximum effort should be made to garner ICT and GIS technologies locally. Local Tax Administrators should be duly encouraged, recognized and rewarded for such innovations.&nbsp;</p>
<p>
	Such knowledge will improve the budgetary process with a solid framework (at both the national and local levels) as plan in Nepal are not built around sophisticated, scientific estimates of expected revenues-- rather based on expenditures based on each ministry’s demand that are customarily inflated with simple ‘guesstimates’ for revenue based in past trends and probable inflation.&nbsp;</p>
<p>
	<strong>Reform Financial Administration Radically&nbsp;</strong></p>
<p>
	It can be underscored that along with financial and economic reforms, there is a need to restructure and re-engineer tax administration.&nbsp;</p>
<p>
	What is desired is the creation of Tax Authorities — rather than having Departments within the Ministry of Finance -- that are autonomous from the Ministry of Finance and made professional, free from political patronage. Such innovations in Peru and Zambia, for example, had revolutionary impact on resource mobilization where tax collection sky rocketed despite reducing the tax burden on the citizens!&nbsp;</p>
<p>
	This administrative reform will go a long way in creating the desirable ‘managerial civil service’ in Nepal and the revenue service cadres fully empowered and competent as tax professionalized to be able to mobilize up to 20% GDP as revenue by 2018. With this ratio of Revenue to GDP, foreign aid will not be calling the shots any longer: and we could have inclusive growth and development pursuing the national, rather than international, agenda.&nbsp;</p>
<p>
	When this happens, politics will take on a new meaning as party Manifestos will, then, be of worth and substance relying on national fiscal innovations rather than foreign aid-dictated policies and projects. More time and effort of the Ministry are spent to cater to the needs of foreign aid which contributes 3-4% of GDP only as compared to the private sectors that contribute 9-10% of the national economy with their suggestions for growth, employment and consumer protection.&nbsp;</p>
<p>
	<strong>Costing and Cost Control Modalities&nbsp;</strong></p>
<p>
	Another shortcoming in the budgetary process is the acute ineffectiveness of monitoring with a view to link the outputs with the inputs. This way financial and economic accountability will be more widened and deepened. The measurement of the efficiency, effectiveness as well as impact of the budget on a sector, program or project will be possible and will generate new policies from well grounded experience.</p>
<p>
	Eventually, as important sectors of the economy move toward a sector programming approach -- a veritable missing link in our planning process (due to the domination by the NPC and the ineffectiveness of the ministerial planning and coordination divisions) would be to innovate toward programme/performance budgeting for which costing studies and cost control mechanisms are vital innovations. When this will be achieved, no more will our planners be swamped by the irony of more P1 projects thanP2; and P2 than P3 ones! With very few of them being dropped to save the ‘face’, , of the ambassadors and their aid bureaucracies! We will be able to move rapidly towards the desired ‘managerial civil service’ alluded above—without which all dreams of double digit growth rates will remain mere naïve fantasies.</p>
<p>
	<strong>Lower Direct Taxes, Abolish VAT&nbsp;<span style="font-size: 12px;">Threshold, Raise Average VAT Rate&nbsp;</span><span style="font-size: 12px;">to 15% (but with Differential Rates&nbsp;</span><span style="font-size: 12px;">for Products and Services) and Levy&nbsp;</span><span style="font-size: 12px;">Agricultural Income Tax.</span></strong></p>
<p>
	Fine-tuning of taxation rates is necessary. Dividend tax should be abolished to encourage savings and investment. More retailers and wholesalers should be made to participate into the tax net and provided incentives must be provided to the local governments to mobilize the informal sector. Perhaps they may be allowed to levy, subject to central audit of the proceeds, a nominal turnover tax of say 0.5% of monthly turnover of local business not registered in PAN.&nbsp;</p>
<p>
	In order to advance fiscal devolution, agricultural income above Rs 200,000 per annum per household should also be taxed at 50% of the non-agricultural income tax. The proceeds should be 100% handed to the local governments at the ratio of 75% to the VDC and 25% to the DDC to make it politically palatable.</p>
<p>
	A massive public relations campaign should be engaged at the national level to motivate landlords-- the urban middle class self employed lawyers, doctors, engineers, consultants to pay their taxes. Tax brokers should be registered to guide tax payers and fill tax simplified returns.&nbsp;</p>
<p>
	<strong>Land Bank, FDI in Retail &amp; Resident Tourists&nbsp;</strong></p>
<p>
	Revisit the policy of Land Banks as a method for agriculture commercialization, including inviting FDI in retail trade and allowing foreigners to buy apartments as ‘resident tourists’.&nbsp;</p>
<p>
	<em>(Former Finance Minister Rana is currently a professor at SAIM)</em></p>
<div>
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			'description' => 'Continuous, data-based research and analyses needs to be undertaken on a sophisticated manner using well known forecasting models to have a precise, firm overview of the revenue potential for Nepal as well as estimating the revenue and identification of causes.',
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			'title' => 'A Compliment',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The story regarding Higher Secondary School covered in the earlier issue of The Corporate was fine. Such types of events in the city will really enhance quality education among educational institutes. However, the story would have been better if more details of the colleges were given.&nbsp;</span></p>
<p>
	<em>- Bimala Neupane</em></p>
<div>
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			'description' => 'The story regarding Higher Secondary School covered in the earlier issue of The Corporate was fine. .',
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			'title' => 'An MBA In Interview',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Reaching the end of a job interview, the human resources person of the CG Group asked a young fresh MBA out of a famous Business School of Nepal, “And what starting salary were you looking for? “The MBA said, “In the neighborhood of 50,000 a month, depending on the benefits package. “The interviewer said, “Well, what would you say to a package of, 14 months' salary in a year, 18 paid holidays, 5 week's vacation, full medical and dental, PF and gratuity facility from the beginning, a company car with a driver, a secretary, office time from 12 to 5 PM, and no need to come to office during Bandha days? “The MBA sat up straight and said, “Wow! Are you kidding? “And the interviewer replied, “Yeah, but you started it.”&nbsp;</span></p>
<p>
	- ML</p>
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			'id' => '1278',
			'article_category_id' => '109',
			'title' => 'Royal-Rara-Api Merger Gains Pace',
			'sub_title' => '',
			'summary' => null,
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	<span style="font-size: 12px;">The merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace.&nbsp;</span></p>
<p>
	The three entities had asked for the permission for merger from central bank, Nepal Rastra Bank in Mid-July, 2012. But, these entities later asked for the extension of time duration for further three months i.e. till July 9, 2013. The reason behind this was said to be delay in the Due Diligence Audit (DDA) of the companies.&nbsp;</p>
<p>
	Now the DDA has been completed and the share swap ratio and number of members in the new board of directors have been finalized. The merged entity is to be a national level development bank with a proposed name of ‘Apex Development Bank Limited’. The capital of the newly formed entity will be Rs 666,563,200. The head office of the new development bank will be located at Darbar Marga, Kathmandu and will have 16 branches and 3 extension counters across the country.</p>',
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			'description' => 'The merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace.',
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			'id' => '1277',
			'article_category_id' => '109',
			'title' => 'Banking & ‘Others’ Lift Nepse Near 500',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><span style="font-size: 12px;">--By Rashesh Vaidya</span></strong></p>
<p>
	Nepse index increased by 7.97 points during previous week. It had closed 487.63 on Sunday, 23rd June (the first trading day of the week) and reached 495.60 at the close of Thursday, 27th June (the last trading day of the week). The market floor was open for five days.&nbsp;</p>
<p>
	In the week, the ‘others’ sub-index increased the highest by 14.10 points closing at 622.70 points. That was followed by the banking sector sub-index which increased by 10.58 points. Bank of Kathmandu was a major mover for last two days of the trading at Nepse with its announcement of a special general meeting on 21st July for the approval of merger proposal and for the election of board of directors.&nbsp;</p>
<p>
	Finance company sub-index increased by 2.26 points during the week. But the hotel, hydropower, insurance and development banks sub-indices declined.&nbsp;</p>
<p>
	There was no change in trading as well as in manufacturing and processing sub-indices during the week.&nbsp;</p>
<p>
	During the week, the promoters’ shares of Goodwill Finance dropped the highest by Rs 77 closing at Rs 108. A total of 24,530 scrips of the company were traded during the week.&nbsp;</p>
<p>
	Shares of 122 companies were traded at Nepse during the week through 6,114 transactions amounting to Rs 428,566,000. The transaction amount is 9.11 percent higher than that of earlier week. The total number of scrips traded was 2,602,977 which is 1,015,327 scrips more than that of earlier week.&nbsp;</p>
<p>
	Everest Bank topped the list in terms of transaction amount (Rs 47,430,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 857,892scrips of the fund were traded during the week.&nbsp;</p>
<p>
	Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (809).</p>
<p>
	<img alt="NEPSE" height="158" hspace="25" src="https://lh6.googleusercontent.com/-LldvAkEZvuM/UdJ0_lklesI/AAAAAAAAApE/6rxLYYUYj08/s600/nepse.jpg" width="600" /></p>
<hr />
<p>
	<strong style="font-size: 12px;">Nepse on Sunday</strong></p>
<p>
	Nepse Index closed at 493.13 points on Sunday (June 30). The index dropped by 2.41 points from the Thursday (June 27) close. Only the insurance sub-index saw a gain of 2.60 points closing at 875.69. The total of 331,083 shares was traded from 1185 transactions during a day. Similarly, the total of 1002674 and 134227 bonus shares of National Life Insurance and Navadurga Finance respectively have been listed this day.</p>
<div>
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			'sortorder' => '1138',
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			'title' => '10th Natiuonal Technologoical Festival',
			'sub_title' => '',
			'summary' => null,
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	<span style="font-size: 12px;">Locus 2013, a group of fourth batch students of electronics and computer and electrical faculty organised the 10th National Technological Festival on June 28 at the premises of Pulchowk Campus. The three-day event was based on the theme of ‘Engineering Rural Development’. The exhibition of various hardware, software and electronics also took place in the programme. The festival was inaugurated by Anadnda Raj Khanal, the Director of Nepal Telecommunicatoions Authority (NTA), Prof Dr Subarna Shakya and Professor Timila Yami, assistant deans at the Institute of Engineering (IOE).</span></p>
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			'description' => 'Locus 2013, a group of fourth batch students of electronics and computer and electrical faculty organised the 10th National Technological Festival on June 28 at the premises of Pulchowk Campus.',
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	<span style="font-size: 12px;">The Nepal Student Union (NSU) affiliated with the Nepali Congress continued its relay hunger strike in front of the office of the vice chancellor of the Tribhuwan University demanding the date for the Free Student Union (FSU) elections at the earliest. NSU spokesperson UP Lamichane told The Corporate that they would organise more stringent protests if the demand is not addressed immediately. We will stage fast-unto-death if the TU fails to announce the date for polls right away, he said. The protesting students have also demanded that the TU implement its academic calendar in its affiliated colleges. The NSU has been carrying out relay strike at VC office gate for last four days.</span></p>',
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			'description' => 'The Nepal Student Union (NSU) affiliated with the Nepali Congress continued its relay hunger strike in front of the office of the vice chancellor of the Tribhuwan University demanding the date for the Free Student Union (FSU) elections at the earliest.',
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			'title' => 'Creative Writing Course',
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			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">‘Wordmill: Creative Writing Workshops on Fiction and Non- Fiction’ has been concluded on June 29 in Kathmandu. The workshop was organized by Quixote’s Cove and was held at Thames International College in Old Baneshwor on Saturday. Noted writer Samrat Upadhyay along with two American writers Trevor Mackesey and John Thomas Howard shared their writing experiences in the workshop. Over 35 participated in the workshop.</span></p>',
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			'created' => '2013-07-01',
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			'description' => '‘Wordmill: Creative Writing Workshops on Fiction and Non- Fiction’ has been concluded on June 29 in Kathmandu.',
			'sortorder' => '1132',
			'image' => null,
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		'Article' => array(
			'id' => '1269',
			'article_category_id' => '156',
			'title' => 'Coercive Leadership May Lead To Innovation Erosion',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Global business leaders are over-reliant on a single leadership style, demotivating employees and holding back organisational performance as a result, says new research from global management consultancy, Hay Group. The study is based on an analysis of Hay Group’s Styles and Climate data, covering 95,000 leaders in over 2,200 organisations across the world.&nbsp;</span></p>
<p>
	According to the study, while good leadership is synonymous with flexibly tailoring the approach to suit the situation, one-third (36%) of leaders have mastered none or only one leadership style, compared to a quarter (26%) who are able to adopt a range of four or more styles.&nbsp;</p>
<p>
	This has a negative effect on working environments, with over half (55%) of leaders creating de-motivating climates. By contrast, just 19% of leaders are fostering high-performance workplaces. Compared to the global average of 55%, leaders in India are far from the ideal workplace environment, with 70% of leaders found creating a de-motivating climate for their employees. Both Brazil and China were found to have performed better in this aspect. The research also showed that 2 in every 3 Indian leaders (62%) opt for the ‘coercive’ leadership style, compared to just 37% globally.&nbsp;</p>
<p>
	Mohinish Sinha, leadership and talent practice leader at Hay Group India said in a release: “The leadership style in place directly affects the way people feel about working for an organisation - by creating what we call a ‘climate’. So the more leaders can improve the climate they create, the higher the performance of their team will be.” According to Sinha: “While the ‘coercive’ leadership style works well in a crisis or during a period of significant change, its overuse may lead to an erosion of innovation. It is the ‘coaching’ style of leadership that is most preferred in the Asian context - 81% of the most high-performing organisations had leaders using it as a dominant style. We find a ‘coaching’ leader focuses on building long-term capability, even at the expense of short-term performance.”&nbsp;</p>
<p>
	Leaders in EMEA (Europe, the Middle East and Africa) are the least flexible, with only one in five (22 per cent) able to use the recommended four or more leadership styles. Consequently, almost 57% are creating de-motivating climates.&nbsp;</p>
<p>
	In addition, two-thirds (66%) of Asian leaders create de-motivating climates - the worst of any global region - where just one quarter (24%) have mastered four or more leadership styles. A majority of Asian leaders (48%) have been found to be using the ‘coercive’ style of leadership. North American leaders create the most positive working environments - fewer than half (49%) of employees state that the organisational climate is de-motivating. However, there is still room for improvement.&nbsp;</p>
<p>
	(The Economic Times)</p>
<div>
	 </div>',
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			'description' => 'Global business leaders are over-reliant on a single leadership style, demotivating employees and holding back organisational performance as a result, says new research from global management consultancy, Hay Group. The study is based on an analysis of Hay Group’s Styles and Climate data, covering 95,000 leaders in over 2,200 organisations across the world.',
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		'Article' => array(
			'id' => '1268',
			'article_category_id' => '34',
			'title' => '‘Our Students Can Compete With Those Of Any Other Colleges’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><strong>Dr Rajendra KC</strong> is the Principal &nbsp;</span><span style="font-size: 12px;">at Southwestern State College. <strong>Upashana Neupane</strong> of The Corporate talked with him about educational sector in Nepal and stand of his college to provide quality education. <strong>Excerpts:</strong></span></p>
<p>
	 </p>
<p>
	<strong><img alt="Dr Rajendra KC ,Principal  at Southwestern State College" height="147" src="https://lh4.googleusercontent.com/-80HkhfoaxXM/UdJn-hNDVpI/AAAAAAAAAoo/RtWYd8ZEd9g/s174/Dr%2520Rajendra%2520KC.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="137" />Private sector involvement in education sector is often criticized for over commercialization. What is your view? </strong></p>
<p>
	I disagree with the statement. Some private institutions activities are responsible for the criticism received by the entire sector. Every institution has to practice what they have agreed to while receiving affiliation from different Boards. All Institutions have to be healthy competitors to reduce criticism regarding the commercialization. There should be categorization in private institution for the private sector to be strong.&nbsp;</p>
<p>
	<strong>How do you assess higher secondary education in Nepal?&nbsp;</strong></p>
<p>
	Higher Secondary education Board (HSEB) should be more transparent and strict to provide quality education. HSEB has to monitor all the colleges time and again. HSEB should vie for providing quality education rather than increasing the number of colleges. Since its establishment, HSEB has provided the affiliations but its monitoring is very weak.</p>
<p>
	<strong>What are the top three priorities of your college to improve education sector?&nbsp;</strong></p>
<p>
	We have been different than others in providing quality education. Our college is an ISO 9001-2008 certified college and we have trained professionals and we carry out regular activities such as presentation classes and civic education classes. If I have to prioritize three things, then they would be presentation classes, research and social works for students.&nbsp;</p>
<p>
	<strong>What are your suggestions for the overall improvement of higher education?&nbsp;</strong></p>
<p>
	HSEB and TU should be stricter in their activities. Exams and other educational activities should be carried out on time. It appears that these two authorities have been very traditional. They should introduce programmmes and trainings for the betterment of students so that Nepali students can compete with the global market.&nbsp;</p>
<p>
	<strong>What are unique features of your college?&nbsp;</strong></p>
<p>
	We never say that we are the best, but what we claim is we don’t compromise on the quality of education. We are here to help students achieve success in their lives. In the beginning, we only had 136 students, but today we have a total of 1600 students in our college. We firmly believe that teaching and research should go hand in hand, and we try to do the same. We conduct regular presentation classes and make our students participate in social activities. I think our students can compete with those of any other colleges, and will prove successful in the international arena as well.</p>
<div>
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			'description' => 'Dr Rajendra KC is the Principal  at Southwestern State College. Upashana Neupane of The Corporate talked with him about educational sector in Nepal and stand of his college to provide quality education.',
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			'id' => '1267',
			'article_category_id' => '146',
			'title' => 'Not China, Nt India, It's Bangladesh',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>',
			'published' => true,
			'created' => '2013-07-01',
			'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' => 'Not China, Nt India, It's Bangladesh',
			'sortorder' => '1129',
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		'Article' => array(
			'id' => '1266',
			'article_category_id' => '145',
			'title' => 'Desirable Fiscal Innovations @ 2013-14',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">--</span><strong style="font-size: 12px;">By Madhukar SJB Rana</strong></p>
<p>
	<span style="font-size: 12px;">It is necessary to bring a unified legislation for budgetary limits to executive powers and the manner of accountability (of Ministers and Bureaucrats separately) along with procedures for maintaining transparency, providing data and analysis for enlightened debate and discourse in Parliament as well, monitored by the Parliamentary Committee on Finance. A rough draft Act was submitted by this author in late 2003. This now needs to be addressed for its pros and cons, needs and adequacy and promulgated by an Ordinance after due deliberations. The Korean and Indian legislations are very good examples for examining and drawing upon lessons. A desirable administrative innovation would be for all Senior Executives in the Ministry to enter into Management Performance Contract with the Minister and be accountable (a) to Minister for execution of Policies and Budget/s as per targets and (b) furthermore, the Secretary and Director Generals to be uniquely accountable to Parliament for omissions and commissions in the execution of the Financial Acts in their jurisdiction, and pursuance of the Directives and Recommendations of the Auditor General. This way the rule of the law will be safeguarded and thus, financial propriety will be advanced significantly.</span></p>
<p>
	<strong>Strengthen Revenue Forecasting &amp; Analysis&nbsp;</strong></p>
<p>
	Continuous, data-based research and analyses needs to be undertaken on a sophisticated manner using well known forecasting models to have a precise, firm overview of the revenue potential for Nepal as well as estimating the revenue and identification of causes.&nbsp;</p>
<p>
	These revenue forecasts must be made at the macro meso (functional) and micro (tax office) levels to obtain the fullest comprehension of the revenue potential based on the national and local economic structures. Local Tax Offices therefore, need, to be provided with simple forecasting models as instruments with which they can estimate the revenue potential of each district by total and type of taxes and other levies. Maximum effort should be made to garner ICT and GIS technologies locally. Local Tax Administrators should be duly encouraged, recognized and rewarded for such innovations.&nbsp;</p>
<p>
	Such knowledge will improve the budgetary process with a solid framework (at both the national and local levels) as plan in Nepal are not built around sophisticated, scientific estimates of expected revenues-- rather based on expenditures based on each ministry’s demand that are customarily inflated with simple ‘guesstimates’ for revenue based in past trends and probable inflation.&nbsp;</p>
<p>
	<strong>Reform Financial Administration Radically&nbsp;</strong></p>
<p>
	It can be underscored that along with financial and economic reforms, there is a need to restructure and re-engineer tax administration.&nbsp;</p>
<p>
	What is desired is the creation of Tax Authorities — rather than having Departments within the Ministry of Finance -- that are autonomous from the Ministry of Finance and made professional, free from political patronage. Such innovations in Peru and Zambia, for example, had revolutionary impact on resource mobilization where tax collection sky rocketed despite reducing the tax burden on the citizens!&nbsp;</p>
<p>
	This administrative reform will go a long way in creating the desirable ‘managerial civil service’ in Nepal and the revenue service cadres fully empowered and competent as tax professionalized to be able to mobilize up to 20% GDP as revenue by 2018. With this ratio of Revenue to GDP, foreign aid will not be calling the shots any longer: and we could have inclusive growth and development pursuing the national, rather than international, agenda.&nbsp;</p>
<p>
	When this happens, politics will take on a new meaning as party Manifestos will, then, be of worth and substance relying on national fiscal innovations rather than foreign aid-dictated policies and projects. More time and effort of the Ministry are spent to cater to the needs of foreign aid which contributes 3-4% of GDP only as compared to the private sectors that contribute 9-10% of the national economy with their suggestions for growth, employment and consumer protection.&nbsp;</p>
<p>
	<strong>Costing and Cost Control Modalities&nbsp;</strong></p>
<p>
	Another shortcoming in the budgetary process is the acute ineffectiveness of monitoring with a view to link the outputs with the inputs. This way financial and economic accountability will be more widened and deepened. The measurement of the efficiency, effectiveness as well as impact of the budget on a sector, program or project will be possible and will generate new policies from well grounded experience.</p>
<p>
	Eventually, as important sectors of the economy move toward a sector programming approach -- a veritable missing link in our planning process (due to the domination by the NPC and the ineffectiveness of the ministerial planning and coordination divisions) would be to innovate toward programme/performance budgeting for which costing studies and cost control mechanisms are vital innovations. When this will be achieved, no more will our planners be swamped by the irony of more P1 projects thanP2; and P2 than P3 ones! With very few of them being dropped to save the ‘face’, , of the ambassadors and their aid bureaucracies! We will be able to move rapidly towards the desired ‘managerial civil service’ alluded above—without which all dreams of double digit growth rates will remain mere naïve fantasies.</p>
<p>
	<strong>Lower Direct Taxes, Abolish VAT&nbsp;<span style="font-size: 12px;">Threshold, Raise Average VAT Rate&nbsp;</span><span style="font-size: 12px;">to 15% (but with Differential Rates&nbsp;</span><span style="font-size: 12px;">for Products and Services) and Levy&nbsp;</span><span style="font-size: 12px;">Agricultural Income Tax.</span></strong></p>
<p>
	Fine-tuning of taxation rates is necessary. Dividend tax should be abolished to encourage savings and investment. More retailers and wholesalers should be made to participate into the tax net and provided incentives must be provided to the local governments to mobilize the informal sector. Perhaps they may be allowed to levy, subject to central audit of the proceeds, a nominal turnover tax of say 0.5% of monthly turnover of local business not registered in PAN.&nbsp;</p>
<p>
	In order to advance fiscal devolution, agricultural income above Rs 200,000 per annum per household should also be taxed at 50% of the non-agricultural income tax. The proceeds should be 100% handed to the local governments at the ratio of 75% to the VDC and 25% to the DDC to make it politically palatable.</p>
<p>
	A massive public relations campaign should be engaged at the national level to motivate landlords-- the urban middle class self employed lawyers, doctors, engineers, consultants to pay their taxes. Tax brokers should be registered to guide tax payers and fill tax simplified returns.&nbsp;</p>
<p>
	<strong>Land Bank, FDI in Retail &amp; Resident Tourists&nbsp;</strong></p>
<p>
	Revisit the policy of Land Banks as a method for agriculture commercialization, including inviting FDI in retail trade and allowing foreigners to buy apartments as ‘resident tourists’.&nbsp;</p>
<p>
	<em>(Former Finance Minister Rana is currently a professor at SAIM)</em></p>
<div>
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			'title' => 'A Compliment',
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			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The story regarding Higher Secondary School covered in the earlier issue of The Corporate was fine. Such types of events in the city will really enhance quality education among educational institutes. However, the story would have been better if more details of the colleges were given.&nbsp;</span></p>
<p>
	<em>- Bimala Neupane</em></p>
<div>
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			'description' => 'The story regarding Higher Secondary School covered in the earlier issue of The Corporate was fine. .',
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			'title' => 'An MBA In Interview',
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			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Reaching the end of a job interview, the human resources person of the CG Group asked a young fresh MBA out of a famous Business School of Nepal, “And what starting salary were you looking for? “The MBA said, “In the neighborhood of 50,000 a month, depending on the benefits package. “The interviewer said, “Well, what would you say to a package of, 14 months' salary in a year, 18 paid holidays, 5 week's vacation, full medical and dental, PF and gratuity facility from the beginning, a company car with a driver, a secretary, office time from 12 to 5 PM, and no need to come to office during Bandha days? “The MBA sat up straight and said, “Wow! Are you kidding? “And the interviewer replied, “Yeah, but you started it.”&nbsp;</span></p>
<p>
	- ML</p>
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