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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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	Atmospheric researchers from around the globe have opined that changes in the Asian summer monsoon have implications on the weather, people’s health, agriculture, and glaciers of the entire Hindu Kush Himalayan region. The researched discussed the connection between air pollution and Asian summer monsoon directly affecting to the economy of Nepal during a four day workshop from June 9 to 12 in Kathmandu.</p>
<p>
	Dr Rabindra Shakya, Vice-Chair of the Nepal National Planning Commission said that proper knowledge of monsoon can help increasing economy of the country through agriculture as 85 per cent of people are still dependant on agriculture in Nepal.</p>
<p>
	With around 100 participants, the workshop was jointly hosted by the International Centre for Integrated Mountain Development (ICIMOD) through its Atmosphere Initiative together with the US National Science Foundation, the National Center for Atmospheric Research (NCAR), the International Geosphere Biosphere Programme’s Integrated Land, Ecosystem, Atmosphere Processes Study (iLEAPS), the International Global Atmospheric Chemistry Project (IGAC), and the World Climate Research Program’s core project on Stratosphere Processes and their Role in Climate (SPARC).<br />
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	<img alt="" height="99" src="https://lh4.googleusercontent.com/YaWmOLfxJ3AoGDhAN6yocLI6ppx6zjYj3kIKwpNl-Ss=w149-h99-p-no" width="149" /></p>
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	The newly formed government of Pakistan on Wednesday unveiled what is being termed as ‘an investment and business friendly budget’ with a total outlay of Rs3.5 trillion for the financial year 2013-14. Finance Minister, Senator Ishaq Dar presented the budget speech at the special session of the National Assembly convened by President Asif Ali Zardari for presenting proposals for Federal Budget 2013-14. The budget focused on boosting business activities includes significant increases in government spending for energy sector reform and development. </p>
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	The budget envisages a record allocation of Rs 1.155 trillion for Public Sector Development Program (PSDP) with an aim to stimulate the economy which presently depicts a bleak picture. A big chunk of Rs 225 billion will be spent on energy sector. The government has allocated Rs 185 billion as power subsidy. The first budget of Nawaz Sharif-led government has allocated Rs 627 billion for FY 2013-14 defence compared to Rs 570 billion for the preceding year. Dar proposed an increase in General Sales Tax (GST) from 16 percent to 17, a decision which is going to further raise the prices of commodities for the people already battered by the worst price hike in the country. </p>
<p>
	As an austerity measure, Ishaq Dar proposed to bring down the expenditures of Prime Minister House by 45 percent, which he claimed will result in a national saving of Rs40 billion. There will be a complete ban on purchase of new cars for Prime Minister’s office but the ban will not be applicable for law enforcement agencies and other inevitable requirements. Ishaq Dar maintained that the circular debt amounting to more than Rs500 billion will be eliminated in 60 days. The budget proposes to abolish the ministers’ discretionary funds. </p>
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	The budget for next fiscal earmarks an amount of Rs75 billion under Income Support Program. The tax exemption for luxury cars is proposed to be abolished while 1200 cc hybrid cars are being exempted from import duty. A concession of 50 percent has been proposed for 1200-1800 cc cars. Rs20,000 tax will also be applicable on the purchase of 1000 CC cars. A withholding tax on wedding cermonies being held at commercial venues has also been proposed along with taxes on foreign movies and dramas. GDP growth rate target for FY 2013-14 has been projected at 4.8 percent and revenue target at Rs2.475 trillion. (Agency)</p>
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	<span style="font-size: 18px;"><strong>‘Nepal should learn from Pakistani government’s initiative’ </strong></span></p>
<p>
	Though a much larger economy, Pakistan is also facing long-standing electricity shortage like Nepal. The ‘loadshedding’ problem has taken a huge toll in Pakistan’s economic productivity and competitiveness. The daily schedule of up to 22 hour electricity cut has not only paralysed the lives of ordinary Pakistanis but also crippled once booming manufacturing and other business sectors. But, things are about to change as the newly elected government under Prime Minister Nawaz Sharif gave priority to boost the energy sector. Analysts say that the five-year reform plan and the significant budget increase in energy sector development highlights that the initiatives taken by Sharif government are in right direction. </p>
<p>
	‘We can learn from Pakistan,’ says Dr Suvarna Das Shrestha, the President of Independent Power Producers’ Association of Nepal (IPPAN). As Nepal government is set to unveil the annual budget for the fiscal year 2013- 14, Shrestha urged the government and political parties to acknowledge the urgency to reform the Nepali energy sector. ‘ Energy is one of the most important factors for country’s long-term economic growth, so government should address various problems seen in the distribution and production of electricity,’ he said. Shrestha added that budget increment in establishing nationwide high-voltage transmission lines would be the first step to reform the Nepali energy sector which will ensure the effective distribution of electricity produced. ‘There is also a need of budget allocation to subsidize the electricity production to encourage the private sector,’ he argued. Shrestha suggested that subsidising Power Purchase (PP) rate and Value Added Tax (VAT) along with bank interest rates would facilitate the private sector. According to him, the government should also allocate some money for hydropower research and development so that viabilities and possibilities of various projects can be found out with actual facts and figures. ‘The energy sector is one of the most depressed sector in the country because the overall budget allocation is just 2-3 per cent of the total government spending, now the allocation should reach at least 20-30 percent,’ he added.<br />
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	<strong>By Sanjeev Sharma</strong></p>
<p class="MsoNormal">
	&nbsp;I t Seems that regional smartphone makers are muscling through the gadget market dominated by big companies. The Indian smartphone manufacturer Colors is one among them. After the XFactor Quad, Colors has come up with another high-end smartphone - the XFactor Bold 2.</p>
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	XFactor Bold 2 isn’t just an upgrade of it’s predecessor the XFactor Bold. This new smartphone can be termed as a complete revamp in terms of processing power and battery backup. XFactor Bold 2 houses a powerful MT6589 Quad-Core Processor and 1 GB RAM system memory. This makes the smartphone’s computing ability much faster as users can easily play power hungry video games and run applications without a hitch. The XFactor Bold 2 runs on Google’s Jelly Bean 4.1, one of the critically acclaimed mobile operating system till date. The Li-Ion 3000 mAH battery provides amazing battery backup which can last up to 340 hours of standby.</p>
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	Besides these, XFactor Bold 2’s other features are also very impressive. The 5.3 inch qHD display makes Bold 2 the first “Phablet” of Colors Mobile. The display’s 540 X 960 resolution and 16.7M colors makes photos and videos crisp and sharp. The capacitive display is very smooth in terms of touch response. It comes with a 12 mega-pixel rear camera. Users can take photos in the maximum resolution of 4000 X 3000 pixels which is only available in some high-end models of big smartphone makers. Bold 2 also has a 2MP front facing camera for video chat. There is no need to worry about storage capacity of the phone as it comes with a 4 GB internal memory. There is also a micro SD card slot which can be used to expand the storage up to 32 GB. The Touch-Bar form factor is very attractive as it raises the overall build quality.</p>
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	Colors has come up with a very clever idea by making Xfactor Bold 2 a dual-sim smartphone. With a dual-sim standby (and a micro-sim option), users can use two different mobile networks simultaneously. Bold 2 is also among the very few in high-end segment which allow users to use multiple network in a single handset. Wireless protocols like Wi-Fi and 3G makes the smartphone’s internet connectivity blazing fast. Bold 2 has different sensors like Proximity , G-sensor and Light sensor which may come handy in various occasions. It also houses a Bluetooth for data transfer and a FM for tuning into different local radio stations as well as well. The Yamaha Sound Engine of Bold 2 makes the overall sound performance very delightful with various options for music and video. Teletalk Pvt Ltd, the authorised distributor of Colors Mobiles in Nepal is offering this ‘Bold and Beautiful’ smartphone at the best buy price of Rs 20,000.</p>
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		'Article' => array(
			'id' => '1169',
			'article_category_id' => '134',
			'title' => 'Ajay Shrestha',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 20px;"><strong>‘We are securing our banking further, and bringing more people into the system’</strong></span></p>
<p>
	<img align="left" alt="" height="211" src="https://lh3.googleusercontent.com/DAJx8o_ZsL9-ZJvyFsvqbAJYWU3U37zniTin6BXFds8=w147-h207-p-no" width="150" /></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Ajay Shrestha CEO, ank of Kathmandu (BOK)</strong></p>
<p>
	<strong>Ajay Shrestha is the CEO of Bank of Kathmandu (BOK). In an interview with Sweta Sharma of The Corporate, Shrestha talked about challenges in the banking sector. Excerpts: <br />
	</strong></p>
<p>
	<strong>How have you evaluated BOK’s performance during the last two years? </strong><br />
	The bank’s financials have been stable for the last three years. The bank is also in a reasonable state in terms of profitability.&nbsp;</p>
<p>
	<strong>What are the challenges facing the bank and the entire sector in general? </strong><br />
	As the core market for the banking sector is still not developed in the country, there is a cut-throat competition among banking and financial institutions to get the maximum share of this limited pie. The cost level has also increased with increasing competition. Thus, it is very challenging for a bank to survive in such a competitive market.&nbsp;</p>
<p>
	<strong>The central bank has recently introduced changes to the account opening procedures. What is your take on the changes? </strong><br />
	NRB has recently directed banks to implement a new system, called Know Your Costumer, to keep better records of clients. We welcome the new system. But it definitely has made it difficult for banks to run smoothly.</p>
<p>
	NRB has come up with this new procedure at a time when majority of people still do not have access to banking. But now the procedure has been implemented to some extent. In my view, there are still large numbers of people who need to be encouraged to comply with the new system.</p>
<p>
	<strong>The central bank has said plans to increase the minimum paid up capital requirement for commercial banks to Rs 500 million. What is your bank’s strategy? </strong><br />
	The central bank is yet to decide on the issue. If NRB does increase the paid up capital requirement to Rs 500 million, we will comply with the directive. Earlier, we were successful in meeting the paid up capital requirement of Rs 200 million using our own sources.</p>
<p>
	<strong>The operational risks in banks have been reported to be quite high. How are you coping with that?</strong> <br />
	Operational risks are inherent in the banking sector all over the world. As more and more customers start using banking services, banks have no option but to switch to advanced banking procedures. The risks need to be addressed and minimised. We are complying with all prevailing laws to deal with operational risks. We are continuously reviewing our banking processes to make them more secure.</p>
<p>
	<strong>BOK launched a special scheme to invest in SMEs (small and medium enterprises) and clean energy. How has the experience been so far? </strong><br />
	SMEs are relatively new to Nepali banks. There are is no fixed definition of a small enterprise. It has been around four months since our bank started its SMEs scheme. The process of SME financing is not easy. A lot of research needs to be done before issuing loans.</p>
<p>
	In this regard, we are running financial literacy programmes for prospective SMEs, especially outside the valley. As part of the programme, we are working on building the knowledge base among people to help them understand the banking system. This has helped encourage people to some extent. <br />
	Clean energy is basically associated with environment. We are taking SME and clean energy schemes together.</p>
<p>
	<strong>While most banks have already adopted branchless banking, BOK is still to do so. Why is the bank so slow in adopting new technology? </strong><br />
	Switching to branchless banking requires equipment and investment. We do not rush to adopt new technology as we are very conscious about the outcome a change may bring in. At the same time, we are also into increasing our customer base. Our main mission is to bring more people into the banking system. We are mainly focused on sustaining our bank as a whole.</p>
<p>
	We are planning to provide branchless banking service at 11 locations for now. At the end of the fiscal year, we will be running branchless banking from 25-30 locations. Similarly, we will launch mobile banking soon.</p>
<p>
	<strong>Would you like to say something to your customers? </strong><br />
	We have increased our customer base to 2.5 lakh from 90,000 within three years of time. This is very encouraging for our bank. We want to double the number of customers in the next few years. Our greatest achievement is that we have 50 outlets. We also have 57 ATM counters. We have been successful in meeting our targets till now.<br />
	<br />
	 </p>',
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			'id' => '1168',
			'article_category_id' => '148',
			'title' => 'Pepsi’s 20-20 Promotional Campaign',
			'sub_title' => '',
			'summary' => null,
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	Varun Beverages Nepal Pvt Ltd has launched p r o m o t i o n a l campaign named Pepsi 20- 20. Pepsi 20-20 is an Under the Crown promotion which is available on 250ml Pepsi, Mirinda, 7UP and Mountain Dew bottles with a red band on the crown. Every day, one lucky winner will win Rs 100,000 and in the bumper prize, customers can win Rs 2 million at the end of the campaign. The winners will be selected through a lucky draw every Sunday in the presence of media. The company has chosen the national cricket team captain Paras Khadka to be the face of the campaign.<br />
	<br />
	 </p>',
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			'created' => '2013-06-28',
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			'id' => '1167',
			'article_category_id' => '91',
			'title' => 'HSS Rating-Ranking Awards On June 19',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>By TC Correspondent</strong></p>
<p>
	New Business Age group, which is the leading business media of Nepal, with Nepali daily Arthik Abhiyaan, English monthly New Business Age, and English news-weekly The Corporate, is going to announce the most comprehensive rating-ranking-awards for the best performing Higher Secondary (Plus 2) Schools of Nepal. The Everest Bank sponsored awards are backed by co-sponsors like Hero Motobike, CAI, Prime CA and media partners like Himalaya TV, Headlines &amp; Music FM radio.</p>
<p>
	The awards ceremony will be on June 19, Wednesday, at Hotel Himalaya, and the ranking is based on voluntary disclosure of various data by interested leading HS schools of Nepal on multiple parameters and also the HS Council results of the schools in the last two years (2068 and 2069).</p>
<p>
	Detailed reports, rankings, profiles of leading schools and interviews of the Principals etc shall be first published in Arthik Abhiyan on Friday, June 21, and further detailed in education supplement of Arthik Abhiyan on Wednesday, June 26. Also, the forthcoming The Corporate edition next week will have two pages summary of the entire rating-ranking-awards and their parameters and winners. Further, the New Business Age edition of July 2013 will carry a detailed 10 pages report on the same. The Himalaya TV will also telecast one hour special program on this initiative starting this Friday, July 21, repeated for three days. Same will be done by Headlines &amp; Music FM radio for three days after results are announced.</p>
<p>
	The various parameters considered are HS academic results of two years (20 points), infra-structure with 10 points (campus, rooms, labs, etc), co-curricular activities, ECA, sports and social work together 20 points, faculty numbers and qualification, library and teaching tools etc together 20 points, preparation for and success in higher professional courses after HS with 10 points, and various other smaller parameters together being 20 points (like, integrating parents in the system, collaborations at national and international levels, etc).</p>
<p>
	The entire project is led by Prof Ujjwal K Chowdhury, former Dean of Symbiosis International University, Pune, India, and the Jury includes eminent persons like senior educationists Dr Dinesh Chapagain, Dr Bijay KC, younger educationists like Narottam Aryal, Roshee Lamichchane, eminent bankers like PK Mahapatra (CEO, Everest Bank), Sujit Mundul (Director, Standard Chartered), corporate professionals like Suman Sakya, Chang Agarwal, Sajita Joshi.</p>
<p>
	The initiative is designed to contribute to the understanding and practice of holistic multi-dimensional school education at plus 2 level, and not just focus on academic results of HS exams, and it also balances the inputs of the education system with the output in various forms of marks, awards, social work, higher professional admission, etc.<br />
	<br />
	 </p>',
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			'id' => '1166',
			'article_category_id' => '153',
			'title' => 'Books Selling And Publishing Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>The increase in literacy rate has the books selling and publishing business of Nepal expanding substantially over the last decade or so. There are 8,000 booksellers of different scale in Nepal while the book trade and publishing industry employs over 100,000 people today.</strong><br />
	<strong><br />
	By Pinaki Roy<br />
	</strong><br />
	The 8,000 odd booksellers of Nepal deal in academic, professional, general and reference books along with the usual textbooks meant for schools, colleges and universities. Textbooks of all standards from school to university form the biggest chunk of the business. Quite naturally, all booksellers and publishers in Nepal focus on this segment. “As much as 90 per cent of the business revolves around selling text books for different levels,” says Likhat Prasad Pandey, Secretary General of National Booksellers and Publishers Association of Nepal (NBPAN). <br />
	<br />
	Textbooks’ selling takes place from Baishakh (mid April – mid May) to the middle of Jestha (end of May), also dubbed as the ‘school season’, Pandey informs. He adds that the publishers ready themselves for this season beforehand by completing the printing work of textbooks. “For the rest of the year, we have to largely depend on academic, fiction and non-fiction books which sell round the year, however, their business volume is much smaller compared to the textbooks,” he says. <br />
	<br />
	Nepal’s book publishing industry is growing at a sound rate every year. The dependence on Indian books for schools and colleges has reduced considerably over the years. While government textbooks are published by state-owned Janak Sikshya Samagri Kendra, the course books used in private schools are published by private booksellers locally. Publishers claim to also have the capacity of supplying books for the 10+2 level. <br />
	<br />
	There is also a great demand for reference and general books. Competition in the education sector has resulted in better teaching and learning requirements. The fact that reference and general books are additional sources of knowledge has helped the book market to expand. Booksellers attribute the surge in business to increasing literacy rate that has given rise to a growing number of readers and publishers alike. <br />
	<br />
	Bhrikuti Pustak Tatha Masalanda Bhandar at Exhibition Road mostly imports and sells foreign books. “Knowledge must not be confined in boundaries,” Pandey, who owns the enterprise says, “As per UNESCO, there must be free flow of books with no taxes and barriers whatsoever.” He informs that a number of local universities in Nepal prescribe 90 per cent of the books in the curriculum that are foreign-originated. Most books come from the UK, the USA and India. Most British and American publishers have their offices in India. The British and American books prescribed by the schools and colleges are reprinted in India and thus cost less. <br />
	<br />
	<strong>Publishing Hub <br />
	</strong><br />
	The decade-long conflict in Nepal compelled booksellers to diversify their trade, as it was difficult for them to sustain solely on tourist and general books. As new universities came into being one after another and better learning opportunities were created in schools and colleges, they quickly diverted their focus to academic books of general interest. <br />
	<br />
	The import of new printing technologies in Nepal has created better prospects for the industry. Madhab Lal Maharjan, Chief Executive Officer of Mandala Book Point, says, “If the government gives the right kind of support, we have already built a groundwork whereby Nepal can become a book publishing hub in the SAARC region after India.” He adds, “The quality of printing in Nepal is as good as anywhere in the world.”</p>
<p>
	<br />
	<strong>Book Council <br />
	</strong><br />
	A committee formed to draft a policy to regulate quality of books, both local and imported, has suggested that the government form a National Book Council. According to the draft, the council will be the apex body to regulate books and the book publishing business. The committee led by Shiva Kumar Rai, member of National Planning Commission, submitted the draft to the Minister for Education Dina Nath Sharma early this year. <br />
	<br />
	The draft policy focuses on ensuring standard for both local and imported books. The committee also recommended the government to remove Value Added Tax (VAT) imposed on imported books. It is aimed to help stop piracy of books in the market. According to the policy, only the books that meet criteria prescribed in the policy can be selected for curriculum. The draft policy also allows the government to scrap license of publishers if they are found printing vulgar contents and graphics. Strict policy against low grade publications was one of the suggestions given by publishers themselves. <br />
	<br />
	NBPAN too had approached Sharma to persuade the government to come up with a policy and set guidelines to ensure flow of correct information and quality control related to writers, publishers and printers. Pandey says that even pricing must be determined especially for text books in conjunction with all stakeholders – publishers, printers, writers, readers and distributors. It is all the more important because the country is a signatory to UNESCO guidelines therefore the government must implement and stakeholders must adhere to the same. <br />
	<br />
	<br />
	<strong>Major Challenges <br />
	</strong><br />
	None of the successive governments has seriously thought about promoting the publishing industry. The most essential requirement of the printing and publishing industry is paper which is comparatively more expensive in Nepal than in India. Other raw materials such as ink, negatives, plates and so forth cost more too that makes books published in Nepal pricier than those published in India. <br />
	<br />
	Due to a great number of schools, colleges and universities in Nepal setting shop in recent times, the demand for quality and standard books has increased significantly. Nepali booksellers have been importing books mostly from India for long. “The government must provide subsidy on different accounts such as plates, ink and paper etc to minimise costs and facilitate the private sector,” says Pandey. <br />
	<br />
	<br />
	<strong>Education and Book Fairs <br />
	</strong><br />
	The 17th Nepal Education and Book Fair 2013 held earlier this year had 87 stalls and was visited by 100,000 visitors. Global Exposition and Management Services (GEMS) organised the nine-day fair at Bhrikutimandap with a theme ‘Education is the right of every child’ in collaboration with NBPAN. The fair gratified the diverse interests of the readers by showcasing books on various topics like literature, fiction, non-fiction, banking, IT and entertainment among others. <br />
	<br />
	The main objective for organizing the event was to create a common platform for school, college and university students, educational professionals, parents, educational and training institutions from home and abroad, consultants, authors, printers, publishers, booksellers, readers, distributors and the general enthusiastic public. The book fair looked at publishing, selling and exchanging books among the book lovers. <br />
	<br />
	Pandey says that NBPAN plans to take the event to an international level from next year. Meanwhile, it is also going to organise ‘Nepal Rastriya Pustak Mela’ for the first time from 20 Mangsir this year for 10 days at City Hall on Exhibition Road. With this, NBPAN will have two book fairs of its own during the year. Pandey urges that the government must recognise the industry and also participate in its book fairs to the give the industry its due exposure. <br />
	<br />
	The association has been regularly participating in an international book fair in Delhi in February titled ‘Bishwa Pustak Mela’. It also took part in a book festival in Abu Dhabi in April this year for the first time. NBPAN is going to take part in a Hong Kong book festival, also for the first time, from 17-23 July.<br />
	 </p>',
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			'title' => 'Briefs (24 - 30 June 2013)',
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	<strong>National Booksellers and Publishers Association of Nepal <br />
	</strong><br />
	National Booksellers and Publishers Association of Nepal (NBPAN) is an umbrella organisation of Book Sellers, Distributors and Publishers in Nepal. It works for the efficient management of Books and Publishing Industry in Nepal and makes recommendations to the government to develop related policies. It was established in 1990 as Book Publisher Association and the founder members included Ratna Pustak Bhandar, Educational Enterprises, Mandala Book Point, Himalaya Book Centre, National Book Centre, Ekta Books Distributors, Himal Association and Himalaya Book Seller among others. NBPAN organises National Book Fair every year and also participates in several international book fairs abroad. <br />
	<br />
	<br />
	<strong>Ratna Pustak Bhandar <br />
	</strong><br />
	The history of Nepal’s oldest book shop dates back to 1939 when Ram Das Shrestha started selling books, mostly religious, in a cart in Bhotahity near Ratna Park, Kathmandu. It was called Ram Das and Sons and renamed Ratna Pustak Bhandar in 1946 after his eldest son, Ratna Prasad Shrestha. <br />
	<br />
	Ratna Prasad Shrestha published the first book Bhagawat Strota, followed by Varnamala (alphabet book) in Nepali and Pancha Strota and made a historical foray by laying the foundation stone of Ratna Pustak Bhandar. The shop has since been providing a wide range of books to the people by publishing, importing and distributing throughout the country. Ratna Pustak Bhandar has also provided a platform for many aspiring writers, who are the literary figures of the nation now. Many prominent figures of the Nepali literary world were and are associated with this publishing enterprise. Ratna Pustak Bhandar was honoured with the prestigious Madan Puraskar Award on its Diamond Jubilee Anniversary. <br />
	<br />
	<br />
	<strong>Mandala Book Point </strong><br />
	<br />
	Mandala Book Point is a central meeting point among scholars, researchers, academicians, historians, anthropologists, and tourists visiting Nepal. The shop has more than 16,000 titles of different subjects ranging from children’s books to academic books. This book shop has a wide range of books on Anthropology &amp; Sociology, History &amp; Culture, Gender &amp; Politics, Art &amp; Architecture, Police &amp; Military Science, Carpets &amp; Textiles, Mountaineering, Trekking books &amp; maps, Wildlife &amp; Environment Science, Language &amp; Literature, Yoga &amp; Ayurvedic, Sports &amp; Health, Fiction &amp; Non-fiction Paperbacks, Lonely Planet and others guide books. The objective of Mandala Book Point is to acquaint its readers with the culture and religion of the entire Himalayan belt extending in the west from Karakoram to Bhutan in the east including Nepal and to protect and preserve the Himalayan heritage through the medium of books. <br />
	<br />
	<br />
	<strong>Ekta Books Distributors </strong><br />
	<br />
	Ekta Books has a 30 year long experience in the book publishing industry. It is one among the line of a few book publishers that have successfully completed a long journey. From its humble roots in Patan, Ekta Books has come a long way to being the best in the publishing sector. Its quality in both material and content in textbooks is unrivalled. Ekta Books was established in 1982 under the leadership of Ramchandra Timothy. This organisation was named Ekta Books and Stationers at the outset. Initially, the organization focused on distributing educational and sports materials. Gradually, it entered a new phase of publishing and in accordance to the laws of the then government; it was named Ekta Books Distributors Pvt Ltd. This was later meant to become a landmark in the history of publishing in Nepal. In 1990, a sister concern Ekta Educational Palace at Man Bhawan, Lalitpur was established to cater to the rising necessity of books in Nepal. The company also has a sister organisation called Ekta Book House at Pradhan Nagar, Siliguri as well as a branch in Lamachaur, Pokhara.<br />
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			'title' => 'Shiva Ram Leading Surya Nepal Central Open',
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	Shiva Ram Shrestha opened up an eight-stroke lead after the third round of the Surya Nepal Central Open at the par-72 Gokarna Golf Club on Wednesday. Defending champion Shiva Ram carded seven-under 65 for a total of 14-under 216. Sanjay Lama of Army Club is second at six-under 210 after he played a round of two-under 70. RNGC’s Ram Thapa, who carded six-under 66, is third at four-under 212.<br />
	<br />
	Shiva Ram carded five-under 31 and two-under 34. He carded birdies on the first, second, third, fifth, eighth and ninth holes on the front nine and faced a bogey on the sixth hole. On the back nine, Shiva Ram carded birdies on the 15th and 16th holes.<br />
	<br />
	Sanjay took the turn at two-under 34. He sank an eagle on the par-5 third hole and carded a birdie on the second hole. He faced a bogey on the sixth hole. On the back nine, Sanjay carded a birdie on the 12th hole and faced a bogey on the 14th hole. Ram played three-under 33 on both the halves. On the front nine, Ram carded birdies on the third, fourth and eighth holes. On the back nine, he carded birdies on the 12th, 13th, 16th and 17th holes against a birdie on the 14th hole.<br />
	<br />
	Ramesh Adhikari of RNGC is fourth at even-par 216, while Pashupati Sharma of Gokarna Golf Club is next with 217. First-round leader Ramesh Nagarkoti fell further to share the sixth position with two-over 218 with No 2 pro Rabi Khadka.<br />
	<br />
	In Amateur section, Dinesh Prajapati opened up seven-stroke lead over Tirtha Poudel. <br />
	Dinesh carded two-over 74 for a total score of five-over 221. Tirtha also played 74 for a total of 12-over 228. Tanka Bahadur Karki is third at 229, while Bikash Bogati is next at 234.<br />
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			'title' => 'Weekly Gold And Silver Price (24 - 30 June 2013)',
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			'title' => 'CNI Demands Plan For Per Capita Income Of USD 3000',
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	<strong>By TC Correspondent<br />
	</strong><br />
	<br />
	Confederation of Nepalese Industries (CNI) has demanded with the government to bring out plan to increase Per Capita Income of Nepalis to USD 3000 within 10 years. Hari Bhakta Sharama, vice-chairman of CNI has stated that for this purpose, private sector is ready to cooperate with government. He also suggested joint efforts of the government and private sector in the development and growth of agriculture, tourism and cottage industries. CNI has also asked the government for increasing the level o income that is income tax exempted. It has requested the government to make tax exempt an income upto Rs 400,000 for individuals and Rs 500,000 for families. At present these numbers are Rs 160,000 and Rs 200,000 respectively. <br />
	<br />
	The businessmen have also asked for custom duty revision, VAT reform, financial sector and capital market development. <br />
	Responding to the concerns and suggestions of the businessmen, Finance Minister Shankar Prasad Koirala said the government would not make any change in VAT and income tax threshold in the coming budget.<br />
	<br />
	<br />
	<br />
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			'title' => 'Nepse Freefall From 495 Points',
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	<strong>By Rashesh Vaidya</strong><br />
	<br />
	Nepse dropped by 6.43 points during previous week. It had closed 494.98 on Sunday, 16th June (the first trading day of the week) and reached 488.55 at the close of Thursday, 21th June (the last trading day of the week). The market floor was open for five days. <br />
	<br />
	In the week, the banking sub-index dropped the highest by 8.92 points closing at 480.60 points. Similarly, the hotel sub-index dropped by 2.83 points. The banking sub-index came down due to fall in the share price of most of the commercial banks. The share price of Himalayan Bank Ltd dropped the highest by Rs 24 per share during the week closing at Rs 676. Similarly, insurance sub-index also declined by 4.91 points. Decline in the share prices of four insurance companies (out of nine traded) during a week made the sub-index fall down to 880.42 points from 885.33 points. At the same time, drop in the ‘others’ sector sub-index continued in the week. Manufacturing and processing sub-index and hydro-power sub-index increased by 0.68 points and 1.99 points respectively. There was no change in trading sub-indices during the week. <br />
	<br />
	Shares of 120 companies were traded at Nepse during the week through 5,077 transactions amounting to Rs 392,787,000. The total number of scrips traded was 1,587,650 which is 407127 scrips more than that of earlier week. Everest Bank topped the list in terms of transaction amount (Rs 103,021,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 379,201scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (638). During a week, a total of 561,600 scrips of bonus shares of Prime Life Insurance Company were listed at Nepse.<br />
	<br />
	<strong><br />
	Nepse on Sunday<br />
	</strong><br />
	Nepse Index dropped by 0.92 points today (June 23) from Thursday (June 30) close. The index closed at 487.53 points. Only trading sub-index &amp; finance sub-index increased by 3.28 points &amp; 0.21 points resepctively. There was no change on manufacturing &amp; processing sub-index. Sensitive Index also dropped by 0.10 points clising at 121.30 points. The total of 566,766 shares were traded during a day.<br />
	<br />
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	<strong>Machhapuchhre at Ghorahi <br />
	</strong><br />
	Machhapuchhre Bank opened a branch at Ghorahi, Dang on June 19. With this, the number of branches of this bank reached 54. One of the promoters of bank Dr Birendra Mahato inaugurated the branch. <br />
	<br />
	<br />
	<strong>Prime Life Shares Dematerialised <br />
	</strong><br />
	CDS and Clearing Limited (CDSCL) and Prime Life Insurance Company Ltd have signed an agreement for the dematerilisation of the shares of the bank. The agreement was signed by CEO of CDSCL Subodh Sharma Sigdel and CEO of Prime Life Insurance Restha Jha. <br />
	<br />
	<br />
	<strong>Gaumukhee IPO Twice Oversubscribed <br />
	</strong><br />
	The Initial Public Offering (IPO) of Gaumukhee Bikas Bank was oversubscribed twice. IPO of the bank was closed on June 17. The bank had issued 1,20,000 units shares on June 12, allocating 2400 units for employees and 6000 units for mutual fund companies. The bank’s paid up capital stands at Rs 28 million and its reserve surplus is at Rs 717,000. NMB Capital was appointed as Issue Manager for this Initial Public Offering. <br />
	<br />
	<br />
	<strong>BoK &amp; Best Remit Tied-up <br />
	</strong><br />
	Bank of Kathmandu (BoK) and Best Remit have signed an agreement for providing the remittance service. The money sent through Best Remit can be paid through 50 branches of BoK across the country. The agreement was signed by president of Best Remit Pvt Ltd Rajendra Shrestha and Chief Operation Officer of BoK Prabin Chettri. <br />
	<br />
	<strong><br />
	NMB Bank Retail Hub at Kantipath </strong><br />
	<br />
	NMB Bank has opened a branch and Retail Hub at Kantipath, Kathmandu. Chairman of the bank Aatma Ram Murarka inaugurated the new branch and bank retail hub on June 20 (Thursday).<br />
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			'title' => 'Atmospheric Changes Affects Economy: Experts',
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	Atmospheric researchers from around the globe have opined that changes in the Asian summer monsoon have implications on the weather, people’s health, agriculture, and glaciers of the entire Hindu Kush Himalayan region. The researched discussed the connection between air pollution and Asian summer monsoon directly affecting to the economy of Nepal during a four day workshop from June 9 to 12 in Kathmandu.</p>
<p>
	Dr Rabindra Shakya, Vice-Chair of the Nepal National Planning Commission said that proper knowledge of monsoon can help increasing economy of the country through agriculture as 85 per cent of people are still dependant on agriculture in Nepal.</p>
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	With around 100 participants, the workshop was jointly hosted by the International Centre for Integrated Mountain Development (ICIMOD) through its Atmosphere Initiative together with the US National Science Foundation, the National Center for Atmospheric Research (NCAR), the International Geosphere Biosphere Programme’s Integrated Land, Ecosystem, Atmosphere Processes Study (iLEAPS), the International Global Atmospheric Chemistry Project (IGAC), and the World Climate Research Program’s core project on Stratosphere Processes and their Role in Climate (SPARC).<br />
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	The newly formed government of Pakistan on Wednesday unveiled what is being termed as ‘an investment and business friendly budget’ with a total outlay of Rs3.5 trillion for the financial year 2013-14. Finance Minister, Senator Ishaq Dar presented the budget speech at the special session of the National Assembly convened by President Asif Ali Zardari for presenting proposals for Federal Budget 2013-14. The budget focused on boosting business activities includes significant increases in government spending for energy sector reform and development. </p>
<p>
	The budget envisages a record allocation of Rs 1.155 trillion for Public Sector Development Program (PSDP) with an aim to stimulate the economy which presently depicts a bleak picture. A big chunk of Rs 225 billion will be spent on energy sector. The government has allocated Rs 185 billion as power subsidy. The first budget of Nawaz Sharif-led government has allocated Rs 627 billion for FY 2013-14 defence compared to Rs 570 billion for the preceding year. Dar proposed an increase in General Sales Tax (GST) from 16 percent to 17, a decision which is going to further raise the prices of commodities for the people already battered by the worst price hike in the country. </p>
<p>
	As an austerity measure, Ishaq Dar proposed to bring down the expenditures of Prime Minister House by 45 percent, which he claimed will result in a national saving of Rs40 billion. There will be a complete ban on purchase of new cars for Prime Minister’s office but the ban will not be applicable for law enforcement agencies and other inevitable requirements. Ishaq Dar maintained that the circular debt amounting to more than Rs500 billion will be eliminated in 60 days. The budget proposes to abolish the ministers’ discretionary funds. </p>
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	The budget for next fiscal earmarks an amount of Rs75 billion under Income Support Program. The tax exemption for luxury cars is proposed to be abolished while 1200 cc hybrid cars are being exempted from import duty. A concession of 50 percent has been proposed for 1200-1800 cc cars. Rs20,000 tax will also be applicable on the purchase of 1000 CC cars. A withholding tax on wedding cermonies being held at commercial venues has also been proposed along with taxes on foreign movies and dramas. GDP growth rate target for FY 2013-14 has been projected at 4.8 percent and revenue target at Rs2.475 trillion. (Agency)</p>
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	<span style="font-size: 18px;"><strong>‘Nepal should learn from Pakistani government’s initiative’ </strong></span></p>
<p>
	Though a much larger economy, Pakistan is also facing long-standing electricity shortage like Nepal. The ‘loadshedding’ problem has taken a huge toll in Pakistan’s economic productivity and competitiveness. The daily schedule of up to 22 hour electricity cut has not only paralysed the lives of ordinary Pakistanis but also crippled once booming manufacturing and other business sectors. But, things are about to change as the newly elected government under Prime Minister Nawaz Sharif gave priority to boost the energy sector. Analysts say that the five-year reform plan and the significant budget increase in energy sector development highlights that the initiatives taken by Sharif government are in right direction. </p>
<p>
	‘We can learn from Pakistan,’ says Dr Suvarna Das Shrestha, the President of Independent Power Producers’ Association of Nepal (IPPAN). As Nepal government is set to unveil the annual budget for the fiscal year 2013- 14, Shrestha urged the government and political parties to acknowledge the urgency to reform the Nepali energy sector. ‘ Energy is one of the most important factors for country’s long-term economic growth, so government should address various problems seen in the distribution and production of electricity,’ he said. Shrestha added that budget increment in establishing nationwide high-voltage transmission lines would be the first step to reform the Nepali energy sector which will ensure the effective distribution of electricity produced. ‘There is also a need of budget allocation to subsidize the electricity production to encourage the private sector,’ he argued. Shrestha suggested that subsidising Power Purchase (PP) rate and Value Added Tax (VAT) along with bank interest rates would facilitate the private sector. According to him, the government should also allocate some money for hydropower research and development so that viabilities and possibilities of various projects can be found out with actual facts and figures. ‘The energy sector is one of the most depressed sector in the country because the overall budget allocation is just 2-3 per cent of the total government spending, now the allocation should reach at least 20-30 percent,’ he added.<br />
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			'title' => 'GADGET REVIEW  Colors XFactor Bold 2 : Bold And Beautiful',
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	<strong><img alt="" height="120" src="https://lh5.googleusercontent.com/-1y1G4yKwVLk/Uc1vPvsR38I/AAAAAAAAATw/Gfh6_C863t0/h120/life+1.bmp" width="91" /><br />
	</strong></p>
<p class="MsoNormal">
	<strong>By Sanjeev Sharma</strong></p>
<p class="MsoNormal">
	&nbsp;I t Seems that regional smartphone makers are muscling through the gadget market dominated by big companies. The Indian smartphone manufacturer Colors is one among them. After the XFactor Quad, Colors has come up with another high-end smartphone - the XFactor Bold 2.</p>
<p class="MsoNormal">
	XFactor Bold 2 isn’t just an upgrade of it’s predecessor the XFactor Bold. This new smartphone can be termed as a complete revamp in terms of processing power and battery backup. XFactor Bold 2 houses a powerful MT6589 Quad-Core Processor and 1 GB RAM system memory. This makes the smartphone’s computing ability much faster as users can easily play power hungry video games and run applications without a hitch. The XFactor Bold 2 runs on Google’s Jelly Bean 4.1, one of the critically acclaimed mobile operating system till date. The Li-Ion 3000 mAH battery provides amazing battery backup which can last up to 340 hours of standby.</p>
<p class="MsoNormal">
	 </p>
<p class="MsoNormal">
	Besides these, XFactor Bold 2’s other features are also very impressive. The 5.3 inch qHD display makes Bold 2 the first “Phablet” of Colors Mobile. The display’s 540 X 960 resolution and 16.7M colors makes photos and videos crisp and sharp. The capacitive display is very smooth in terms of touch response. It comes with a 12 mega-pixel rear camera. Users can take photos in the maximum resolution of 4000 X 3000 pixels which is only available in some high-end models of big smartphone makers. Bold 2 also has a 2MP front facing camera for video chat. There is no need to worry about storage capacity of the phone as it comes with a 4 GB internal memory. There is also a micro SD card slot which can be used to expand the storage up to 32 GB. The Touch-Bar form factor is very attractive as it raises the overall build quality.</p>
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	<img alt="" height="121" src="https://lh6.googleusercontent.com/-o22oxTppi3Y/Uc1w-ZQjxOI/AAAAAAAAAUc/lV-_YYdKA5I/h120/life.bmp" width="121" /></p>
<p class="MsoNormal">
	Colors has come up with a very clever idea by making Xfactor Bold 2 a dual-sim smartphone. With a dual-sim standby (and a micro-sim option), users can use two different mobile networks simultaneously. Bold 2 is also among the very few in high-end segment which allow users to use multiple network in a single handset. Wireless protocols like Wi-Fi and 3G makes the smartphone’s internet connectivity blazing fast. Bold 2 has different sensors like Proximity , G-sensor and Light sensor which may come handy in various occasions. It also houses a Bluetooth for data transfer and a FM for tuning into different local radio stations as well as well. The Yamaha Sound Engine of Bold 2 makes the overall sound performance very delightful with various options for music and video. Teletalk Pvt Ltd, the authorised distributor of Colors Mobiles in Nepal is offering this ‘Bold and Beautiful’ smartphone at the best buy price of Rs 20,000.</p>
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		'Article' => array(
			'id' => '1169',
			'article_category_id' => '134',
			'title' => 'Ajay Shrestha',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 20px;"><strong>‘We are securing our banking further, and bringing more people into the system’</strong></span></p>
<p>
	<img align="left" alt="" height="211" src="https://lh3.googleusercontent.com/DAJx8o_ZsL9-ZJvyFsvqbAJYWU3U37zniTin6BXFds8=w147-h207-p-no" width="150" /></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Ajay Shrestha CEO, ank of Kathmandu (BOK)</strong></p>
<p>
	<strong>Ajay Shrestha is the CEO of Bank of Kathmandu (BOK). In an interview with Sweta Sharma of The Corporate, Shrestha talked about challenges in the banking sector. Excerpts: <br />
	</strong></p>
<p>
	<strong>How have you evaluated BOK’s performance during the last two years? </strong><br />
	The bank’s financials have been stable for the last three years. The bank is also in a reasonable state in terms of profitability.&nbsp;</p>
<p>
	<strong>What are the challenges facing the bank and the entire sector in general? </strong><br />
	As the core market for the banking sector is still not developed in the country, there is a cut-throat competition among banking and financial institutions to get the maximum share of this limited pie. The cost level has also increased with increasing competition. Thus, it is very challenging for a bank to survive in such a competitive market.&nbsp;</p>
<p>
	<strong>The central bank has recently introduced changes to the account opening procedures. What is your take on the changes? </strong><br />
	NRB has recently directed banks to implement a new system, called Know Your Costumer, to keep better records of clients. We welcome the new system. But it definitely has made it difficult for banks to run smoothly.</p>
<p>
	NRB has come up with this new procedure at a time when majority of people still do not have access to banking. But now the procedure has been implemented to some extent. In my view, there are still large numbers of people who need to be encouraged to comply with the new system.</p>
<p>
	<strong>The central bank has said plans to increase the minimum paid up capital requirement for commercial banks to Rs 500 million. What is your bank’s strategy? </strong><br />
	The central bank is yet to decide on the issue. If NRB does increase the paid up capital requirement to Rs 500 million, we will comply with the directive. Earlier, we were successful in meeting the paid up capital requirement of Rs 200 million using our own sources.</p>
<p>
	<strong>The operational risks in banks have been reported to be quite high. How are you coping with that?</strong> <br />
	Operational risks are inherent in the banking sector all over the world. As more and more customers start using banking services, banks have no option but to switch to advanced banking procedures. The risks need to be addressed and minimised. We are complying with all prevailing laws to deal with operational risks. We are continuously reviewing our banking processes to make them more secure.</p>
<p>
	<strong>BOK launched a special scheme to invest in SMEs (small and medium enterprises) and clean energy. How has the experience been so far? </strong><br />
	SMEs are relatively new to Nepali banks. There are is no fixed definition of a small enterprise. It has been around four months since our bank started its SMEs scheme. The process of SME financing is not easy. A lot of research needs to be done before issuing loans.</p>
<p>
	In this regard, we are running financial literacy programmes for prospective SMEs, especially outside the valley. As part of the programme, we are working on building the knowledge base among people to help them understand the banking system. This has helped encourage people to some extent. <br />
	Clean energy is basically associated with environment. We are taking SME and clean energy schemes together.</p>
<p>
	<strong>While most banks have already adopted branchless banking, BOK is still to do so. Why is the bank so slow in adopting new technology? </strong><br />
	Switching to branchless banking requires equipment and investment. We do not rush to adopt new technology as we are very conscious about the outcome a change may bring in. At the same time, we are also into increasing our customer base. Our main mission is to bring more people into the banking system. We are mainly focused on sustaining our bank as a whole.</p>
<p>
	We are planning to provide branchless banking service at 11 locations for now. At the end of the fiscal year, we will be running branchless banking from 25-30 locations. Similarly, we will launch mobile banking soon.</p>
<p>
	<strong>Would you like to say something to your customers? </strong><br />
	We have increased our customer base to 2.5 lakh from 90,000 within three years of time. This is very encouraging for our bank. We want to double the number of customers in the next few years. Our greatest achievement is that we have 50 outlets. We also have 57 ATM counters. We have been successful in meeting our targets till now.<br />
	<br />
	 </p>',
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			'id' => '1168',
			'article_category_id' => '148',
			'title' => 'Pepsi’s 20-20 Promotional Campaign',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Varun Beverages Nepal Pvt Ltd has launched p r o m o t i o n a l campaign named Pepsi 20- 20. Pepsi 20-20 is an Under the Crown promotion which is available on 250ml Pepsi, Mirinda, 7UP and Mountain Dew bottles with a red band on the crown. Every day, one lucky winner will win Rs 100,000 and in the bumper prize, customers can win Rs 2 million at the end of the campaign. The winners will be selected through a lucky draw every Sunday in the presence of media. The company has chosen the national cricket team captain Paras Khadka to be the face of the campaign.<br />
	<br />
	 </p>',
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			'id' => '1167',
			'article_category_id' => '91',
			'title' => 'HSS Rating-Ranking Awards On June 19',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>By TC Correspondent</strong></p>
<p>
	New Business Age group, which is the leading business media of Nepal, with Nepali daily Arthik Abhiyaan, English monthly New Business Age, and English news-weekly The Corporate, is going to announce the most comprehensive rating-ranking-awards for the best performing Higher Secondary (Plus 2) Schools of Nepal. The Everest Bank sponsored awards are backed by co-sponsors like Hero Motobike, CAI, Prime CA and media partners like Himalaya TV, Headlines &amp; Music FM radio.</p>
<p>
	The awards ceremony will be on June 19, Wednesday, at Hotel Himalaya, and the ranking is based on voluntary disclosure of various data by interested leading HS schools of Nepal on multiple parameters and also the HS Council results of the schools in the last two years (2068 and 2069).</p>
<p>
	Detailed reports, rankings, profiles of leading schools and interviews of the Principals etc shall be first published in Arthik Abhiyan on Friday, June 21, and further detailed in education supplement of Arthik Abhiyan on Wednesday, June 26. Also, the forthcoming The Corporate edition next week will have two pages summary of the entire rating-ranking-awards and their parameters and winners. Further, the New Business Age edition of July 2013 will carry a detailed 10 pages report on the same. The Himalaya TV will also telecast one hour special program on this initiative starting this Friday, July 21, repeated for three days. Same will be done by Headlines &amp; Music FM radio for three days after results are announced.</p>
<p>
	The various parameters considered are HS academic results of two years (20 points), infra-structure with 10 points (campus, rooms, labs, etc), co-curricular activities, ECA, sports and social work together 20 points, faculty numbers and qualification, library and teaching tools etc together 20 points, preparation for and success in higher professional courses after HS with 10 points, and various other smaller parameters together being 20 points (like, integrating parents in the system, collaborations at national and international levels, etc).</p>
<p>
	The entire project is led by Prof Ujjwal K Chowdhury, former Dean of Symbiosis International University, Pune, India, and the Jury includes eminent persons like senior educationists Dr Dinesh Chapagain, Dr Bijay KC, younger educationists like Narottam Aryal, Roshee Lamichchane, eminent bankers like PK Mahapatra (CEO, Everest Bank), Sujit Mundul (Director, Standard Chartered), corporate professionals like Suman Sakya, Chang Agarwal, Sajita Joshi.</p>
<p>
	The initiative is designed to contribute to the understanding and practice of holistic multi-dimensional school education at plus 2 level, and not just focus on academic results of HS exams, and it also balances the inputs of the education system with the output in various forms of marks, awards, social work, higher professional admission, etc.<br />
	<br />
	 </p>',
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			'id' => '1166',
			'article_category_id' => '153',
			'title' => 'Books Selling And Publishing Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>The increase in literacy rate has the books selling and publishing business of Nepal expanding substantially over the last decade or so. There are 8,000 booksellers of different scale in Nepal while the book trade and publishing industry employs over 100,000 people today.</strong><br />
	<strong><br />
	By Pinaki Roy<br />
	</strong><br />
	The 8,000 odd booksellers of Nepal deal in academic, professional, general and reference books along with the usual textbooks meant for schools, colleges and universities. Textbooks of all standards from school to university form the biggest chunk of the business. Quite naturally, all booksellers and publishers in Nepal focus on this segment. “As much as 90 per cent of the business revolves around selling text books for different levels,” says Likhat Prasad Pandey, Secretary General of National Booksellers and Publishers Association of Nepal (NBPAN). <br />
	<br />
	Textbooks’ selling takes place from Baishakh (mid April – mid May) to the middle of Jestha (end of May), also dubbed as the ‘school season’, Pandey informs. He adds that the publishers ready themselves for this season beforehand by completing the printing work of textbooks. “For the rest of the year, we have to largely depend on academic, fiction and non-fiction books which sell round the year, however, their business volume is much smaller compared to the textbooks,” he says. <br />
	<br />
	Nepal’s book publishing industry is growing at a sound rate every year. The dependence on Indian books for schools and colleges has reduced considerably over the years. While government textbooks are published by state-owned Janak Sikshya Samagri Kendra, the course books used in private schools are published by private booksellers locally. Publishers claim to also have the capacity of supplying books for the 10+2 level. <br />
	<br />
	There is also a great demand for reference and general books. Competition in the education sector has resulted in better teaching and learning requirements. The fact that reference and general books are additional sources of knowledge has helped the book market to expand. Booksellers attribute the surge in business to increasing literacy rate that has given rise to a growing number of readers and publishers alike. <br />
	<br />
	Bhrikuti Pustak Tatha Masalanda Bhandar at Exhibition Road mostly imports and sells foreign books. “Knowledge must not be confined in boundaries,” Pandey, who owns the enterprise says, “As per UNESCO, there must be free flow of books with no taxes and barriers whatsoever.” He informs that a number of local universities in Nepal prescribe 90 per cent of the books in the curriculum that are foreign-originated. Most books come from the UK, the USA and India. Most British and American publishers have their offices in India. The British and American books prescribed by the schools and colleges are reprinted in India and thus cost less. <br />
	<br />
	<strong>Publishing Hub <br />
	</strong><br />
	The decade-long conflict in Nepal compelled booksellers to diversify their trade, as it was difficult for them to sustain solely on tourist and general books. As new universities came into being one after another and better learning opportunities were created in schools and colleges, they quickly diverted their focus to academic books of general interest. <br />
	<br />
	The import of new printing technologies in Nepal has created better prospects for the industry. Madhab Lal Maharjan, Chief Executive Officer of Mandala Book Point, says, “If the government gives the right kind of support, we have already built a groundwork whereby Nepal can become a book publishing hub in the SAARC region after India.” He adds, “The quality of printing in Nepal is as good as anywhere in the world.”</p>
<p>
	<br />
	<strong>Book Council <br />
	</strong><br />
	A committee formed to draft a policy to regulate quality of books, both local and imported, has suggested that the government form a National Book Council. According to the draft, the council will be the apex body to regulate books and the book publishing business. The committee led by Shiva Kumar Rai, member of National Planning Commission, submitted the draft to the Minister for Education Dina Nath Sharma early this year. <br />
	<br />
	The draft policy focuses on ensuring standard for both local and imported books. The committee also recommended the government to remove Value Added Tax (VAT) imposed on imported books. It is aimed to help stop piracy of books in the market. According to the policy, only the books that meet criteria prescribed in the policy can be selected for curriculum. The draft policy also allows the government to scrap license of publishers if they are found printing vulgar contents and graphics. Strict policy against low grade publications was one of the suggestions given by publishers themselves. <br />
	<br />
	NBPAN too had approached Sharma to persuade the government to come up with a policy and set guidelines to ensure flow of correct information and quality control related to writers, publishers and printers. Pandey says that even pricing must be determined especially for text books in conjunction with all stakeholders – publishers, printers, writers, readers and distributors. It is all the more important because the country is a signatory to UNESCO guidelines therefore the government must implement and stakeholders must adhere to the same. <br />
	<br />
	<br />
	<strong>Major Challenges <br />
	</strong><br />
	None of the successive governments has seriously thought about promoting the publishing industry. The most essential requirement of the printing and publishing industry is paper which is comparatively more expensive in Nepal than in India. Other raw materials such as ink, negatives, plates and so forth cost more too that makes books published in Nepal pricier than those published in India. <br />
	<br />
	Due to a great number of schools, colleges and universities in Nepal setting shop in recent times, the demand for quality and standard books has increased significantly. Nepali booksellers have been importing books mostly from India for long. “The government must provide subsidy on different accounts such as plates, ink and paper etc to minimise costs and facilitate the private sector,” says Pandey. <br />
	<br />
	<br />
	<strong>Education and Book Fairs <br />
	</strong><br />
	The 17th Nepal Education and Book Fair 2013 held earlier this year had 87 stalls and was visited by 100,000 visitors. Global Exposition and Management Services (GEMS) organised the nine-day fair at Bhrikutimandap with a theme ‘Education is the right of every child’ in collaboration with NBPAN. The fair gratified the diverse interests of the readers by showcasing books on various topics like literature, fiction, non-fiction, banking, IT and entertainment among others. <br />
	<br />
	The main objective for organizing the event was to create a common platform for school, college and university students, educational professionals, parents, educational and training institutions from home and abroad, consultants, authors, printers, publishers, booksellers, readers, distributors and the general enthusiastic public. The book fair looked at publishing, selling and exchanging books among the book lovers. <br />
	<br />
	Pandey says that NBPAN plans to take the event to an international level from next year. Meanwhile, it is also going to organise ‘Nepal Rastriya Pustak Mela’ for the first time from 20 Mangsir this year for 10 days at City Hall on Exhibition Road. With this, NBPAN will have two book fairs of its own during the year. Pandey urges that the government must recognise the industry and also participate in its book fairs to the give the industry its due exposure. <br />
	<br />
	The association has been regularly participating in an international book fair in Delhi in February titled ‘Bishwa Pustak Mela’. It also took part in a book festival in Abu Dhabi in April this year for the first time. NBPAN is going to take part in a Hong Kong book festival, also for the first time, from 17-23 July.<br />
	 </p>',
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			'id' => '1165',
			'article_category_id' => '152',
			'title' => 'Briefs (24 - 30 June 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>National Booksellers and Publishers Association of Nepal <br />
	</strong><br />
	National Booksellers and Publishers Association of Nepal (NBPAN) is an umbrella organisation of Book Sellers, Distributors and Publishers in Nepal. It works for the efficient management of Books and Publishing Industry in Nepal and makes recommendations to the government to develop related policies. It was established in 1990 as Book Publisher Association and the founder members included Ratna Pustak Bhandar, Educational Enterprises, Mandala Book Point, Himalaya Book Centre, National Book Centre, Ekta Books Distributors, Himal Association and Himalaya Book Seller among others. NBPAN organises National Book Fair every year and also participates in several international book fairs abroad. <br />
	<br />
	<br />
	<strong>Ratna Pustak Bhandar <br />
	</strong><br />
	The history of Nepal’s oldest book shop dates back to 1939 when Ram Das Shrestha started selling books, mostly religious, in a cart in Bhotahity near Ratna Park, Kathmandu. It was called Ram Das and Sons and renamed Ratna Pustak Bhandar in 1946 after his eldest son, Ratna Prasad Shrestha. <br />
	<br />
	Ratna Prasad Shrestha published the first book Bhagawat Strota, followed by Varnamala (alphabet book) in Nepali and Pancha Strota and made a historical foray by laying the foundation stone of Ratna Pustak Bhandar. The shop has since been providing a wide range of books to the people by publishing, importing and distributing throughout the country. Ratna Pustak Bhandar has also provided a platform for many aspiring writers, who are the literary figures of the nation now. Many prominent figures of the Nepali literary world were and are associated with this publishing enterprise. Ratna Pustak Bhandar was honoured with the prestigious Madan Puraskar Award on its Diamond Jubilee Anniversary. <br />
	<br />
	<br />
	<strong>Mandala Book Point </strong><br />
	<br />
	Mandala Book Point is a central meeting point among scholars, researchers, academicians, historians, anthropologists, and tourists visiting Nepal. The shop has more than 16,000 titles of different subjects ranging from children’s books to academic books. This book shop has a wide range of books on Anthropology &amp; Sociology, History &amp; Culture, Gender &amp; Politics, Art &amp; Architecture, Police &amp; Military Science, Carpets &amp; Textiles, Mountaineering, Trekking books &amp; maps, Wildlife &amp; Environment Science, Language &amp; Literature, Yoga &amp; Ayurvedic, Sports &amp; Health, Fiction &amp; Non-fiction Paperbacks, Lonely Planet and others guide books. The objective of Mandala Book Point is to acquaint its readers with the culture and religion of the entire Himalayan belt extending in the west from Karakoram to Bhutan in the east including Nepal and to protect and preserve the Himalayan heritage through the medium of books. <br />
	<br />
	<br />
	<strong>Ekta Books Distributors </strong><br />
	<br />
	Ekta Books has a 30 year long experience in the book publishing industry. It is one among the line of a few book publishers that have successfully completed a long journey. From its humble roots in Patan, Ekta Books has come a long way to being the best in the publishing sector. Its quality in both material and content in textbooks is unrivalled. Ekta Books was established in 1982 under the leadership of Ramchandra Timothy. This organisation was named Ekta Books and Stationers at the outset. Initially, the organization focused on distributing educational and sports materials. Gradually, it entered a new phase of publishing and in accordance to the laws of the then government; it was named Ekta Books Distributors Pvt Ltd. This was later meant to become a landmark in the history of publishing in Nepal. In 1990, a sister concern Ekta Educational Palace at Man Bhawan, Lalitpur was established to cater to the rising necessity of books in Nepal. The company also has a sister organisation called Ekta Book House at Pradhan Nagar, Siliguri as well as a branch in Lamachaur, Pokhara.<br />
	 </p>',
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			'title' => 'Shiva Ram Leading Surya Nepal Central Open',
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	Shiva Ram Shrestha opened up an eight-stroke lead after the third round of the Surya Nepal Central Open at the par-72 Gokarna Golf Club on Wednesday. Defending champion Shiva Ram carded seven-under 65 for a total of 14-under 216. Sanjay Lama of Army Club is second at six-under 210 after he played a round of two-under 70. RNGC’s Ram Thapa, who carded six-under 66, is third at four-under 212.<br />
	<br />
	Shiva Ram carded five-under 31 and two-under 34. He carded birdies on the first, second, third, fifth, eighth and ninth holes on the front nine and faced a bogey on the sixth hole. On the back nine, Shiva Ram carded birdies on the 15th and 16th holes.<br />
	<br />
	Sanjay took the turn at two-under 34. He sank an eagle on the par-5 third hole and carded a birdie on the second hole. He faced a bogey on the sixth hole. On the back nine, Sanjay carded a birdie on the 12th hole and faced a bogey on the 14th hole. Ram played three-under 33 on both the halves. On the front nine, Ram carded birdies on the third, fourth and eighth holes. On the back nine, he carded birdies on the 12th, 13th, 16th and 17th holes against a birdie on the 14th hole.<br />
	<br />
	Ramesh Adhikari of RNGC is fourth at even-par 216, while Pashupati Sharma of Gokarna Golf Club is next with 217. First-round leader Ramesh Nagarkoti fell further to share the sixth position with two-over 218 with No 2 pro Rabi Khadka.<br />
	<br />
	In Amateur section, Dinesh Prajapati opened up seven-stroke lead over Tirtha Poudel. <br />
	Dinesh carded two-over 74 for a total score of five-over 221. Tirtha also played 74 for a total of 12-over 228. Tanka Bahadur Karki is third at 229, while Bikash Bogati is next at 234.<br />
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			'title' => 'Weekly Gold And Silver Price (24 - 30 June 2013)',
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			'title' => 'CNI Demands Plan For Per Capita Income Of USD 3000',
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			'content' => '<p>
	<strong>By TC Correspondent<br />
	</strong><br />
	<br />
	Confederation of Nepalese Industries (CNI) has demanded with the government to bring out plan to increase Per Capita Income of Nepalis to USD 3000 within 10 years. Hari Bhakta Sharama, vice-chairman of CNI has stated that for this purpose, private sector is ready to cooperate with government. He also suggested joint efforts of the government and private sector in the development and growth of agriculture, tourism and cottage industries. CNI has also asked the government for increasing the level o income that is income tax exempted. It has requested the government to make tax exempt an income upto Rs 400,000 for individuals and Rs 500,000 for families. At present these numbers are Rs 160,000 and Rs 200,000 respectively. <br />
	<br />
	The businessmen have also asked for custom duty revision, VAT reform, financial sector and capital market development. <br />
	Responding to the concerns and suggestions of the businessmen, Finance Minister Shankar Prasad Koirala said the government would not make any change in VAT and income tax threshold in the coming budget.<br />
	<br />
	<br />
	<br />
	 </p>',
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			'title' => 'Nepse Freefall From 495 Points',
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			'content' => '<p>
	<strong>By Rashesh Vaidya</strong><br />
	<br />
	Nepse dropped by 6.43 points during previous week. It had closed 494.98 on Sunday, 16th June (the first trading day of the week) and reached 488.55 at the close of Thursday, 21th June (the last trading day of the week). The market floor was open for five days. <br />
	<br />
	In the week, the banking sub-index dropped the highest by 8.92 points closing at 480.60 points. Similarly, the hotel sub-index dropped by 2.83 points. The banking sub-index came down due to fall in the share price of most of the commercial banks. The share price of Himalayan Bank Ltd dropped the highest by Rs 24 per share during the week closing at Rs 676. Similarly, insurance sub-index also declined by 4.91 points. Decline in the share prices of four insurance companies (out of nine traded) during a week made the sub-index fall down to 880.42 points from 885.33 points. At the same time, drop in the ‘others’ sector sub-index continued in the week. Manufacturing and processing sub-index and hydro-power sub-index increased by 0.68 points and 1.99 points respectively. There was no change in trading sub-indices during the week. <br />
	<br />
	Shares of 120 companies were traded at Nepse during the week through 5,077 transactions amounting to Rs 392,787,000. The total number of scrips traded was 1,587,650 which is 407127 scrips more than that of earlier week. Everest Bank topped the list in terms of transaction amount (Rs 103,021,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 379,201scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (638). During a week, a total of 561,600 scrips of bonus shares of Prime Life Insurance Company were listed at Nepse.<br />
	<br />
	<strong><br />
	Nepse on Sunday<br />
	</strong><br />
	Nepse Index dropped by 0.92 points today (June 23) from Thursday (June 30) close. The index closed at 487.53 points. Only trading sub-index &amp; finance sub-index increased by 3.28 points &amp; 0.21 points resepctively. There was no change on manufacturing &amp; processing sub-index. Sensitive Index also dropped by 0.10 points clising at 121.30 points. The total of 566,766 shares were traded during a day.<br />
	<br />
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			'article_category_id' => '108',
			'title' => 'Money Maters News In Brief (24 - 30 June 2013)',
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			'content' => '<p>
	<strong>Machhapuchhre at Ghorahi <br />
	</strong><br />
	Machhapuchhre Bank opened a branch at Ghorahi, Dang on June 19. With this, the number of branches of this bank reached 54. One of the promoters of bank Dr Birendra Mahato inaugurated the branch. <br />
	<br />
	<br />
	<strong>Prime Life Shares Dematerialised <br />
	</strong><br />
	CDS and Clearing Limited (CDSCL) and Prime Life Insurance Company Ltd have signed an agreement for the dematerilisation of the shares of the bank. The agreement was signed by CEO of CDSCL Subodh Sharma Sigdel and CEO of Prime Life Insurance Restha Jha. <br />
	<br />
	<br />
	<strong>Gaumukhee IPO Twice Oversubscribed <br />
	</strong><br />
	The Initial Public Offering (IPO) of Gaumukhee Bikas Bank was oversubscribed twice. IPO of the bank was closed on June 17. The bank had issued 1,20,000 units shares on June 12, allocating 2400 units for employees and 6000 units for mutual fund companies. The bank’s paid up capital stands at Rs 28 million and its reserve surplus is at Rs 717,000. NMB Capital was appointed as Issue Manager for this Initial Public Offering. <br />
	<br />
	<br />
	<strong>BoK &amp; Best Remit Tied-up <br />
	</strong><br />
	Bank of Kathmandu (BoK) and Best Remit have signed an agreement for providing the remittance service. The money sent through Best Remit can be paid through 50 branches of BoK across the country. The agreement was signed by president of Best Remit Pvt Ltd Rajendra Shrestha and Chief Operation Officer of BoK Prabin Chettri. <br />
	<br />
	<strong><br />
	NMB Bank Retail Hub at Kantipath </strong><br />
	<br />
	NMB Bank has opened a branch and Retail Hub at Kantipath, Kathmandu. Chairman of the bank Aatma Ram Murarka inaugurated the new branch and bank retail hub on June 20 (Thursday).<br />
	 </p>',
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			'id' => '1173',
			'article_category_id' => '138',
			'title' => 'Atmospheric Changes Affects Economy: Experts',
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	Atmospheric researchers from around the globe have opined that changes in the Asian summer monsoon have implications on the weather, people’s health, agriculture, and glaciers of the entire Hindu Kush Himalayan region. The researched discussed the connection between air pollution and Asian summer monsoon directly affecting to the economy of Nepal during a four day workshop from June 9 to 12 in Kathmandu.</p>
<p>
	Dr Rabindra Shakya, Vice-Chair of the Nepal National Planning Commission said that proper knowledge of monsoon can help increasing economy of the country through agriculture as 85 per cent of people are still dependant on agriculture in Nepal.</p>
<p>
	With around 100 participants, the workshop was jointly hosted by the International Centre for Integrated Mountain Development (ICIMOD) through its Atmosphere Initiative together with the US National Science Foundation, the National Center for Atmospheric Research (NCAR), the International Geosphere Biosphere Programme’s Integrated Land, Ecosystem, Atmosphere Processes Study (iLEAPS), the International Global Atmospheric Chemistry Project (IGAC), and the World Climate Research Program’s core project on Stratosphere Processes and their Role in Climate (SPARC).<br />
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			'title' => 'Pakistan’s New Budget Focuses On Energy Sector Reform',
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	<img alt="" height="99" src="https://lh4.googleusercontent.com/YaWmOLfxJ3AoGDhAN6yocLI6ppx6zjYj3kIKwpNl-Ss=w149-h99-p-no" width="149" /></p>
<p>
	The newly formed government of Pakistan on Wednesday unveiled what is being termed as ‘an investment and business friendly budget’ with a total outlay of Rs3.5 trillion for the financial year 2013-14. Finance Minister, Senator Ishaq Dar presented the budget speech at the special session of the National Assembly convened by President Asif Ali Zardari for presenting proposals for Federal Budget 2013-14. The budget focused on boosting business activities includes significant increases in government spending for energy sector reform and development. </p>
<p>
	The budget envisages a record allocation of Rs 1.155 trillion for Public Sector Development Program (PSDP) with an aim to stimulate the economy which presently depicts a bleak picture. A big chunk of Rs 225 billion will be spent on energy sector. The government has allocated Rs 185 billion as power subsidy. The first budget of Nawaz Sharif-led government has allocated Rs 627 billion for FY 2013-14 defence compared to Rs 570 billion for the preceding year. Dar proposed an increase in General Sales Tax (GST) from 16 percent to 17, a decision which is going to further raise the prices of commodities for the people already battered by the worst price hike in the country. </p>
<p>
	As an austerity measure, Ishaq Dar proposed to bring down the expenditures of Prime Minister House by 45 percent, which he claimed will result in a national saving of Rs40 billion. There will be a complete ban on purchase of new cars for Prime Minister’s office but the ban will not be applicable for law enforcement agencies and other inevitable requirements. Ishaq Dar maintained that the circular debt amounting to more than Rs500 billion will be eliminated in 60 days. The budget proposes to abolish the ministers’ discretionary funds. </p>
<p>
	The budget for next fiscal earmarks an amount of Rs75 billion under Income Support Program. The tax exemption for luxury cars is proposed to be abolished while 1200 cc hybrid cars are being exempted from import duty. A concession of 50 percent has been proposed for 1200-1800 cc cars. Rs20,000 tax will also be applicable on the purchase of 1000 CC cars. A withholding tax on wedding cermonies being held at commercial venues has also been proposed along with taxes on foreign movies and dramas. GDP growth rate target for FY 2013-14 has been projected at 4.8 percent and revenue target at Rs2.475 trillion. (Agency)</p>
<p>
	<span style="font-size: 18px;"><strong>‘Nepal should learn from Pakistani government’s initiative’ </strong></span></p>
<p>
	Though a much larger economy, Pakistan is also facing long-standing electricity shortage like Nepal. The ‘loadshedding’ problem has taken a huge toll in Pakistan’s economic productivity and competitiveness. The daily schedule of up to 22 hour electricity cut has not only paralysed the lives of ordinary Pakistanis but also crippled once booming manufacturing and other business sectors. But, things are about to change as the newly elected government under Prime Minister Nawaz Sharif gave priority to boost the energy sector. Analysts say that the five-year reform plan and the significant budget increase in energy sector development highlights that the initiatives taken by Sharif government are in right direction. </p>
<p>
	‘We can learn from Pakistan,’ says Dr Suvarna Das Shrestha, the President of Independent Power Producers’ Association of Nepal (IPPAN). As Nepal government is set to unveil the annual budget for the fiscal year 2013- 14, Shrestha urged the government and political parties to acknowledge the urgency to reform the Nepali energy sector. ‘ Energy is one of the most important factors for country’s long-term economic growth, so government should address various problems seen in the distribution and production of electricity,’ he said. Shrestha added that budget increment in establishing nationwide high-voltage transmission lines would be the first step to reform the Nepali energy sector which will ensure the effective distribution of electricity produced. ‘There is also a need of budget allocation to subsidize the electricity production to encourage the private sector,’ he argued. Shrestha suggested that subsidising Power Purchase (PP) rate and Value Added Tax (VAT) along with bank interest rates would facilitate the private sector. According to him, the government should also allocate some money for hydropower research and development so that viabilities and possibilities of various projects can be found out with actual facts and figures. ‘The energy sector is one of the most depressed sector in the country because the overall budget allocation is just 2-3 per cent of the total government spending, now the allocation should reach at least 20-30 percent,’ he added.<br />
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	&nbsp;I t Seems that regional smartphone makers are muscling through the gadget market dominated by big companies. The Indian smartphone manufacturer Colors is one among them. After the XFactor Quad, Colors has come up with another high-end smartphone - the XFactor Bold 2.</p>
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	XFactor Bold 2 isn’t just an upgrade of it’s predecessor the XFactor Bold. This new smartphone can be termed as a complete revamp in terms of processing power and battery backup. XFactor Bold 2 houses a powerful MT6589 Quad-Core Processor and 1 GB RAM system memory. This makes the smartphone’s computing ability much faster as users can easily play power hungry video games and run applications without a hitch. The XFactor Bold 2 runs on Google’s Jelly Bean 4.1, one of the critically acclaimed mobile operating system till date. The Li-Ion 3000 mAH battery provides amazing battery backup which can last up to 340 hours of standby.</p>
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	Besides these, XFactor Bold 2’s other features are also very impressive. The 5.3 inch qHD display makes Bold 2 the first “Phablet” of Colors Mobile. The display’s 540 X 960 resolution and 16.7M colors makes photos and videos crisp and sharp. The capacitive display is very smooth in terms of touch response. It comes with a 12 mega-pixel rear camera. Users can take photos in the maximum resolution of 4000 X 3000 pixels which is only available in some high-end models of big smartphone makers. Bold 2 also has a 2MP front facing camera for video chat. There is no need to worry about storage capacity of the phone as it comes with a 4 GB internal memory. There is also a micro SD card slot which can be used to expand the storage up to 32 GB. The Touch-Bar form factor is very attractive as it raises the overall build quality.</p>
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	Colors has come up with a very clever idea by making Xfactor Bold 2 a dual-sim smartphone. With a dual-sim standby (and a micro-sim option), users can use two different mobile networks simultaneously. Bold 2 is also among the very few in high-end segment which allow users to use multiple network in a single handset. Wireless protocols like Wi-Fi and 3G makes the smartphone’s internet connectivity blazing fast. Bold 2 has different sensors like Proximity , G-sensor and Light sensor which may come handy in various occasions. It also houses a Bluetooth for data transfer and a FM for tuning into different local radio stations as well as well. The Yamaha Sound Engine of Bold 2 makes the overall sound performance very delightful with various options for music and video. Teletalk Pvt Ltd, the authorised distributor of Colors Mobiles in Nepal is offering this ‘Bold and Beautiful’ smartphone at the best buy price of Rs 20,000.</p>
<p class="MsoNormal">
	 </p>',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1169',
			'article_category_id' => '134',
			'title' => 'Ajay Shrestha',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 20px;"><strong>‘We are securing our banking further, and bringing more people into the system’</strong></span></p>
<p>
	<img align="left" alt="" height="211" src="https://lh3.googleusercontent.com/DAJx8o_ZsL9-ZJvyFsvqbAJYWU3U37zniTin6BXFds8=w147-h207-p-no" width="150" /></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Ajay Shrestha CEO, ank of Kathmandu (BOK)</strong></p>
<p>
	<strong>Ajay Shrestha is the CEO of Bank of Kathmandu (BOK). In an interview with Sweta Sharma of The Corporate, Shrestha talked about challenges in the banking sector. Excerpts: <br />
	</strong></p>
<p>
	<strong>How have you evaluated BOK’s performance during the last two years? </strong><br />
	The bank’s financials have been stable for the last three years. The bank is also in a reasonable state in terms of profitability.&nbsp;</p>
<p>
	<strong>What are the challenges facing the bank and the entire sector in general? </strong><br />
	As the core market for the banking sector is still not developed in the country, there is a cut-throat competition among banking and financial institutions to get the maximum share of this limited pie. The cost level has also increased with increasing competition. Thus, it is very challenging for a bank to survive in such a competitive market.&nbsp;</p>
<p>
	<strong>The central bank has recently introduced changes to the account opening procedures. What is your take on the changes? </strong><br />
	NRB has recently directed banks to implement a new system, called Know Your Costumer, to keep better records of clients. We welcome the new system. But it definitely has made it difficult for banks to run smoothly.</p>
<p>
	NRB has come up with this new procedure at a time when majority of people still do not have access to banking. But now the procedure has been implemented to some extent. In my view, there are still large numbers of people who need to be encouraged to comply with the new system.</p>
<p>
	<strong>The central bank has said plans to increase the minimum paid up capital requirement for commercial banks to Rs 500 million. What is your bank’s strategy? </strong><br />
	The central bank is yet to decide on the issue. If NRB does increase the paid up capital requirement to Rs 500 million, we will comply with the directive. Earlier, we were successful in meeting the paid up capital requirement of Rs 200 million using our own sources.</p>
<p>
	<strong>The operational risks in banks have been reported to be quite high. How are you coping with that?</strong> <br />
	Operational risks are inherent in the banking sector all over the world. As more and more customers start using banking services, banks have no option but to switch to advanced banking procedures. The risks need to be addressed and minimised. We are complying with all prevailing laws to deal with operational risks. We are continuously reviewing our banking processes to make them more secure.</p>
<p>
	<strong>BOK launched a special scheme to invest in SMEs (small and medium enterprises) and clean energy. How has the experience been so far? </strong><br />
	SMEs are relatively new to Nepali banks. There are is no fixed definition of a small enterprise. It has been around four months since our bank started its SMEs scheme. The process of SME financing is not easy. A lot of research needs to be done before issuing loans.</p>
<p>
	In this regard, we are running financial literacy programmes for prospective SMEs, especially outside the valley. As part of the programme, we are working on building the knowledge base among people to help them understand the banking system. This has helped encourage people to some extent. <br />
	Clean energy is basically associated with environment. We are taking SME and clean energy schemes together.</p>
<p>
	<strong>While most banks have already adopted branchless banking, BOK is still to do so. Why is the bank so slow in adopting new technology? </strong><br />
	Switching to branchless banking requires equipment and investment. We do not rush to adopt new technology as we are very conscious about the outcome a change may bring in. At the same time, we are also into increasing our customer base. Our main mission is to bring more people into the banking system. We are mainly focused on sustaining our bank as a whole.</p>
<p>
	We are planning to provide branchless banking service at 11 locations for now. At the end of the fiscal year, we will be running branchless banking from 25-30 locations. Similarly, we will launch mobile banking soon.</p>
<p>
	<strong>Would you like to say something to your customers? </strong><br />
	We have increased our customer base to 2.5 lakh from 90,000 within three years of time. This is very encouraging for our bank. We want to double the number of customers in the next few years. Our greatest achievement is that we have 50 outlets. We also have 57 ATM counters. We have been successful in meeting our targets till now.<br />
	<br />
	 </p>',
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			'id' => '1168',
			'article_category_id' => '148',
			'title' => 'Pepsi’s 20-20 Promotional Campaign',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Varun Beverages Nepal Pvt Ltd has launched p r o m o t i o n a l campaign named Pepsi 20- 20. Pepsi 20-20 is an Under the Crown promotion which is available on 250ml Pepsi, Mirinda, 7UP and Mountain Dew bottles with a red band on the crown. Every day, one lucky winner will win Rs 100,000 and in the bumper prize, customers can win Rs 2 million at the end of the campaign. The winners will be selected through a lucky draw every Sunday in the presence of media. The company has chosen the national cricket team captain Paras Khadka to be the face of the campaign.<br />
	<br />
	 </p>',
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		'Article' => array(
			'id' => '1167',
			'article_category_id' => '91',
			'title' => 'HSS Rating-Ranking Awards On June 19',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>By TC Correspondent</strong></p>
<p>
	New Business Age group, which is the leading business media of Nepal, with Nepali daily Arthik Abhiyaan, English monthly New Business Age, and English news-weekly The Corporate, is going to announce the most comprehensive rating-ranking-awards for the best performing Higher Secondary (Plus 2) Schools of Nepal. The Everest Bank sponsored awards are backed by co-sponsors like Hero Motobike, CAI, Prime CA and media partners like Himalaya TV, Headlines &amp; Music FM radio.</p>
<p>
	The awards ceremony will be on June 19, Wednesday, at Hotel Himalaya, and the ranking is based on voluntary disclosure of various data by interested leading HS schools of Nepal on multiple parameters and also the HS Council results of the schools in the last two years (2068 and 2069).</p>
<p>
	Detailed reports, rankings, profiles of leading schools and interviews of the Principals etc shall be first published in Arthik Abhiyan on Friday, June 21, and further detailed in education supplement of Arthik Abhiyan on Wednesday, June 26. Also, the forthcoming The Corporate edition next week will have two pages summary of the entire rating-ranking-awards and their parameters and winners. Further, the New Business Age edition of July 2013 will carry a detailed 10 pages report on the same. The Himalaya TV will also telecast one hour special program on this initiative starting this Friday, July 21, repeated for three days. Same will be done by Headlines &amp; Music FM radio for three days after results are announced.</p>
<p>
	The various parameters considered are HS academic results of two years (20 points), infra-structure with 10 points (campus, rooms, labs, etc), co-curricular activities, ECA, sports and social work together 20 points, faculty numbers and qualification, library and teaching tools etc together 20 points, preparation for and success in higher professional courses after HS with 10 points, and various other smaller parameters together being 20 points (like, integrating parents in the system, collaborations at national and international levels, etc).</p>
<p>
	The entire project is led by Prof Ujjwal K Chowdhury, former Dean of Symbiosis International University, Pune, India, and the Jury includes eminent persons like senior educationists Dr Dinesh Chapagain, Dr Bijay KC, younger educationists like Narottam Aryal, Roshee Lamichchane, eminent bankers like PK Mahapatra (CEO, Everest Bank), Sujit Mundul (Director, Standard Chartered), corporate professionals like Suman Sakya, Chang Agarwal, Sajita Joshi.</p>
<p>
	The initiative is designed to contribute to the understanding and practice of holistic multi-dimensional school education at plus 2 level, and not just focus on academic results of HS exams, and it also balances the inputs of the education system with the output in various forms of marks, awards, social work, higher professional admission, etc.<br />
	<br />
	 </p>',
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		'Article' => array(
			'id' => '1166',
			'article_category_id' => '153',
			'title' => 'Books Selling And Publishing Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>The increase in literacy rate has the books selling and publishing business of Nepal expanding substantially over the last decade or so. There are 8,000 booksellers of different scale in Nepal while the book trade and publishing industry employs over 100,000 people today.</strong><br />
	<strong><br />
	By Pinaki Roy<br />
	</strong><br />
	The 8,000 odd booksellers of Nepal deal in academic, professional, general and reference books along with the usual textbooks meant for schools, colleges and universities. Textbooks of all standards from school to university form the biggest chunk of the business. Quite naturally, all booksellers and publishers in Nepal focus on this segment. “As much as 90 per cent of the business revolves around selling text books for different levels,” says Likhat Prasad Pandey, Secretary General of National Booksellers and Publishers Association of Nepal (NBPAN). <br />
	<br />
	Textbooks’ selling takes place from Baishakh (mid April – mid May) to the middle of Jestha (end of May), also dubbed as the ‘school season’, Pandey informs. He adds that the publishers ready themselves for this season beforehand by completing the printing work of textbooks. “For the rest of the year, we have to largely depend on academic, fiction and non-fiction books which sell round the year, however, their business volume is much smaller compared to the textbooks,” he says. <br />
	<br />
	Nepal’s book publishing industry is growing at a sound rate every year. The dependence on Indian books for schools and colleges has reduced considerably over the years. While government textbooks are published by state-owned Janak Sikshya Samagri Kendra, the course books used in private schools are published by private booksellers locally. Publishers claim to also have the capacity of supplying books for the 10+2 level. <br />
	<br />
	There is also a great demand for reference and general books. Competition in the education sector has resulted in better teaching and learning requirements. The fact that reference and general books are additional sources of knowledge has helped the book market to expand. Booksellers attribute the surge in business to increasing literacy rate that has given rise to a growing number of readers and publishers alike. <br />
	<br />
	Bhrikuti Pustak Tatha Masalanda Bhandar at Exhibition Road mostly imports and sells foreign books. “Knowledge must not be confined in boundaries,” Pandey, who owns the enterprise says, “As per UNESCO, there must be free flow of books with no taxes and barriers whatsoever.” He informs that a number of local universities in Nepal prescribe 90 per cent of the books in the curriculum that are foreign-originated. Most books come from the UK, the USA and India. Most British and American publishers have their offices in India. The British and American books prescribed by the schools and colleges are reprinted in India and thus cost less. <br />
	<br />
	<strong>Publishing Hub <br />
	</strong><br />
	The decade-long conflict in Nepal compelled booksellers to diversify their trade, as it was difficult for them to sustain solely on tourist and general books. As new universities came into being one after another and better learning opportunities were created in schools and colleges, they quickly diverted their focus to academic books of general interest. <br />
	<br />
	The import of new printing technologies in Nepal has created better prospects for the industry. Madhab Lal Maharjan, Chief Executive Officer of Mandala Book Point, says, “If the government gives the right kind of support, we have already built a groundwork whereby Nepal can become a book publishing hub in the SAARC region after India.” He adds, “The quality of printing in Nepal is as good as anywhere in the world.”</p>
<p>
	<br />
	<strong>Book Council <br />
	</strong><br />
	A committee formed to draft a policy to regulate quality of books, both local and imported, has suggested that the government form a National Book Council. According to the draft, the council will be the apex body to regulate books and the book publishing business. The committee led by Shiva Kumar Rai, member of National Planning Commission, submitted the draft to the Minister for Education Dina Nath Sharma early this year. <br />
	<br />
	The draft policy focuses on ensuring standard for both local and imported books. The committee also recommended the government to remove Value Added Tax (VAT) imposed on imported books. It is aimed to help stop piracy of books in the market. According to the policy, only the books that meet criteria prescribed in the policy can be selected for curriculum. The draft policy also allows the government to scrap license of publishers if they are found printing vulgar contents and graphics. Strict policy against low grade publications was one of the suggestions given by publishers themselves. <br />
	<br />
	NBPAN too had approached Sharma to persuade the government to come up with a policy and set guidelines to ensure flow of correct information and quality control related to writers, publishers and printers. Pandey says that even pricing must be determined especially for text books in conjunction with all stakeholders – publishers, printers, writers, readers and distributors. It is all the more important because the country is a signatory to UNESCO guidelines therefore the government must implement and stakeholders must adhere to the same. <br />
	<br />
	<br />
	<strong>Major Challenges <br />
	</strong><br />
	None of the successive governments has seriously thought about promoting the publishing industry. The most essential requirement of the printing and publishing industry is paper which is comparatively more expensive in Nepal than in India. Other raw materials such as ink, negatives, plates and so forth cost more too that makes books published in Nepal pricier than those published in India. <br />
	<br />
	Due to a great number of schools, colleges and universities in Nepal setting shop in recent times, the demand for quality and standard books has increased significantly. Nepali booksellers have been importing books mostly from India for long. “The government must provide subsidy on different accounts such as plates, ink and paper etc to minimise costs and facilitate the private sector,” says Pandey. <br />
	<br />
	<br />
	<strong>Education and Book Fairs <br />
	</strong><br />
	The 17th Nepal Education and Book Fair 2013 held earlier this year had 87 stalls and was visited by 100,000 visitors. Global Exposition and Management Services (GEMS) organised the nine-day fair at Bhrikutimandap with a theme ‘Education is the right of every child’ in collaboration with NBPAN. The fair gratified the diverse interests of the readers by showcasing books on various topics like literature, fiction, non-fiction, banking, IT and entertainment among others. <br />
	<br />
	The main objective for organizing the event was to create a common platform for school, college and university students, educational professionals, parents, educational and training institutions from home and abroad, consultants, authors, printers, publishers, booksellers, readers, distributors and the general enthusiastic public. The book fair looked at publishing, selling and exchanging books among the book lovers. <br />
	<br />
	Pandey says that NBPAN plans to take the event to an international level from next year. Meanwhile, it is also going to organise ‘Nepal Rastriya Pustak Mela’ for the first time from 20 Mangsir this year for 10 days at City Hall on Exhibition Road. With this, NBPAN will have two book fairs of its own during the year. Pandey urges that the government must recognise the industry and also participate in its book fairs to the give the industry its due exposure. <br />
	<br />
	The association has been regularly participating in an international book fair in Delhi in February titled ‘Bishwa Pustak Mela’. It also took part in a book festival in Abu Dhabi in April this year for the first time. NBPAN is going to take part in a Hong Kong book festival, also for the first time, from 17-23 July.<br />
	 </p>',
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		'Article' => array(
			'id' => '1165',
			'article_category_id' => '152',
			'title' => 'Briefs (24 - 30 June 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>National Booksellers and Publishers Association of Nepal <br />
	</strong><br />
	National Booksellers and Publishers Association of Nepal (NBPAN) is an umbrella organisation of Book Sellers, Distributors and Publishers in Nepal. It works for the efficient management of Books and Publishing Industry in Nepal and makes recommendations to the government to develop related policies. It was established in 1990 as Book Publisher Association and the founder members included Ratna Pustak Bhandar, Educational Enterprises, Mandala Book Point, Himalaya Book Centre, National Book Centre, Ekta Books Distributors, Himal Association and Himalaya Book Seller among others. NBPAN organises National Book Fair every year and also participates in several international book fairs abroad. <br />
	<br />
	<br />
	<strong>Ratna Pustak Bhandar <br />
	</strong><br />
	The history of Nepal’s oldest book shop dates back to 1939 when Ram Das Shrestha started selling books, mostly religious, in a cart in Bhotahity near Ratna Park, Kathmandu. It was called Ram Das and Sons and renamed Ratna Pustak Bhandar in 1946 after his eldest son, Ratna Prasad Shrestha. <br />
	<br />
	Ratna Prasad Shrestha published the first book Bhagawat Strota, followed by Varnamala (alphabet book) in Nepali and Pancha Strota and made a historical foray by laying the foundation stone of Ratna Pustak Bhandar. The shop has since been providing a wide range of books to the people by publishing, importing and distributing throughout the country. Ratna Pustak Bhandar has also provided a platform for many aspiring writers, who are the literary figures of the nation now. Many prominent figures of the Nepali literary world were and are associated with this publishing enterprise. Ratna Pustak Bhandar was honoured with the prestigious Madan Puraskar Award on its Diamond Jubilee Anniversary. <br />
	<br />
	<br />
	<strong>Mandala Book Point </strong><br />
	<br />
	Mandala Book Point is a central meeting point among scholars, researchers, academicians, historians, anthropologists, and tourists visiting Nepal. The shop has more than 16,000 titles of different subjects ranging from children’s books to academic books. This book shop has a wide range of books on Anthropology &amp; Sociology, History &amp; Culture, Gender &amp; Politics, Art &amp; Architecture, Police &amp; Military Science, Carpets &amp; Textiles, Mountaineering, Trekking books &amp; maps, Wildlife &amp; Environment Science, Language &amp; Literature, Yoga &amp; Ayurvedic, Sports &amp; Health, Fiction &amp; Non-fiction Paperbacks, Lonely Planet and others guide books. The objective of Mandala Book Point is to acquaint its readers with the culture and religion of the entire Himalayan belt extending in the west from Karakoram to Bhutan in the east including Nepal and to protect and preserve the Himalayan heritage through the medium of books. <br />
	<br />
	<br />
	<strong>Ekta Books Distributors </strong><br />
	<br />
	Ekta Books has a 30 year long experience in the book publishing industry. It is one among the line of a few book publishers that have successfully completed a long journey. From its humble roots in Patan, Ekta Books has come a long way to being the best in the publishing sector. Its quality in both material and content in textbooks is unrivalled. Ekta Books was established in 1982 under the leadership of Ramchandra Timothy. This organisation was named Ekta Books and Stationers at the outset. Initially, the organization focused on distributing educational and sports materials. Gradually, it entered a new phase of publishing and in accordance to the laws of the then government; it was named Ekta Books Distributors Pvt Ltd. This was later meant to become a landmark in the history of publishing in Nepal. In 1990, a sister concern Ekta Educational Palace at Man Bhawan, Lalitpur was established to cater to the rising necessity of books in Nepal. The company also has a sister organisation called Ekta Book House at Pradhan Nagar, Siliguri as well as a branch in Lamachaur, Pokhara.<br />
	 </p>',
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	Shiva Ram Shrestha opened up an eight-stroke lead after the third round of the Surya Nepal Central Open at the par-72 Gokarna Golf Club on Wednesday. Defending champion Shiva Ram carded seven-under 65 for a total of 14-under 216. Sanjay Lama of Army Club is second at six-under 210 after he played a round of two-under 70. RNGC’s Ram Thapa, who carded six-under 66, is third at four-under 212.<br />
	<br />
	Shiva Ram carded five-under 31 and two-under 34. He carded birdies on the first, second, third, fifth, eighth and ninth holes on the front nine and faced a bogey on the sixth hole. On the back nine, Shiva Ram carded birdies on the 15th and 16th holes.<br />
	<br />
	Sanjay took the turn at two-under 34. He sank an eagle on the par-5 third hole and carded a birdie on the second hole. He faced a bogey on the sixth hole. On the back nine, Sanjay carded a birdie on the 12th hole and faced a bogey on the 14th hole. Ram played three-under 33 on both the halves. On the front nine, Ram carded birdies on the third, fourth and eighth holes. On the back nine, he carded birdies on the 12th, 13th, 16th and 17th holes against a birdie on the 14th hole.<br />
	<br />
	Ramesh Adhikari of RNGC is fourth at even-par 216, while Pashupati Sharma of Gokarna Golf Club is next with 217. First-round leader Ramesh Nagarkoti fell further to share the sixth position with two-over 218 with No 2 pro Rabi Khadka.<br />
	<br />
	In Amateur section, Dinesh Prajapati opened up seven-stroke lead over Tirtha Poudel. <br />
	Dinesh carded two-over 74 for a total score of five-over 221. Tirtha also played 74 for a total of 12-over 228. Tanka Bahadur Karki is third at 229, while Bikash Bogati is next at 234.<br />
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			'title' => 'Weekly Gold And Silver Price (24 - 30 June 2013)',
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			'title' => 'CNI Demands Plan For Per Capita Income Of USD 3000',
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	<strong>By TC Correspondent<br />
	</strong><br />
	<br />
	Confederation of Nepalese Industries (CNI) has demanded with the government to bring out plan to increase Per Capita Income of Nepalis to USD 3000 within 10 years. Hari Bhakta Sharama, vice-chairman of CNI has stated that for this purpose, private sector is ready to cooperate with government. He also suggested joint efforts of the government and private sector in the development and growth of agriculture, tourism and cottage industries. CNI has also asked the government for increasing the level o income that is income tax exempted. It has requested the government to make tax exempt an income upto Rs 400,000 for individuals and Rs 500,000 for families. At present these numbers are Rs 160,000 and Rs 200,000 respectively. <br />
	<br />
	The businessmen have also asked for custom duty revision, VAT reform, financial sector and capital market development. <br />
	Responding to the concerns and suggestions of the businessmen, Finance Minister Shankar Prasad Koirala said the government would not make any change in VAT and income tax threshold in the coming budget.<br />
	<br />
	<br />
	<br />
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			'title' => 'Nepse Freefall From 495 Points',
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			'content' => '<p>
	<strong>By Rashesh Vaidya</strong><br />
	<br />
	Nepse dropped by 6.43 points during previous week. It had closed 494.98 on Sunday, 16th June (the first trading day of the week) and reached 488.55 at the close of Thursday, 21th June (the last trading day of the week). The market floor was open for five days. <br />
	<br />
	In the week, the banking sub-index dropped the highest by 8.92 points closing at 480.60 points. Similarly, the hotel sub-index dropped by 2.83 points. The banking sub-index came down due to fall in the share price of most of the commercial banks. The share price of Himalayan Bank Ltd dropped the highest by Rs 24 per share during the week closing at Rs 676. Similarly, insurance sub-index also declined by 4.91 points. Decline in the share prices of four insurance companies (out of nine traded) during a week made the sub-index fall down to 880.42 points from 885.33 points. At the same time, drop in the ‘others’ sector sub-index continued in the week. Manufacturing and processing sub-index and hydro-power sub-index increased by 0.68 points and 1.99 points respectively. There was no change in trading sub-indices during the week. <br />
	<br />
	Shares of 120 companies were traded at Nepse during the week through 5,077 transactions amounting to Rs 392,787,000. The total number of scrips traded was 1,587,650 which is 407127 scrips more than that of earlier week. Everest Bank topped the list in terms of transaction amount (Rs 103,021,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 379,201scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (638). During a week, a total of 561,600 scrips of bonus shares of Prime Life Insurance Company were listed at Nepse.<br />
	<br />
	<strong><br />
	Nepse on Sunday<br />
	</strong><br />
	Nepse Index dropped by 0.92 points today (June 23) from Thursday (June 30) close. The index closed at 487.53 points. Only trading sub-index &amp; finance sub-index increased by 3.28 points &amp; 0.21 points resepctively. There was no change on manufacturing &amp; processing sub-index. Sensitive Index also dropped by 0.10 points clising at 121.30 points. The total of 566,766 shares were traded during a day.<br />
	<br />
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	<strong>Machhapuchhre at Ghorahi <br />
	</strong><br />
	Machhapuchhre Bank opened a branch at Ghorahi, Dang on June 19. With this, the number of branches of this bank reached 54. One of the promoters of bank Dr Birendra Mahato inaugurated the branch. <br />
	<br />
	<br />
	<strong>Prime Life Shares Dematerialised <br />
	</strong><br />
	CDS and Clearing Limited (CDSCL) and Prime Life Insurance Company Ltd have signed an agreement for the dematerilisation of the shares of the bank. The agreement was signed by CEO of CDSCL Subodh Sharma Sigdel and CEO of Prime Life Insurance Restha Jha. <br />
	<br />
	<br />
	<strong>Gaumukhee IPO Twice Oversubscribed <br />
	</strong><br />
	The Initial Public Offering (IPO) of Gaumukhee Bikas Bank was oversubscribed twice. IPO of the bank was closed on June 17. The bank had issued 1,20,000 units shares on June 12, allocating 2400 units for employees and 6000 units for mutual fund companies. The bank’s paid up capital stands at Rs 28 million and its reserve surplus is at Rs 717,000. NMB Capital was appointed as Issue Manager for this Initial Public Offering. <br />
	<br />
	<br />
	<strong>BoK &amp; Best Remit Tied-up <br />
	</strong><br />
	Bank of Kathmandu (BoK) and Best Remit have signed an agreement for providing the remittance service. The money sent through Best Remit can be paid through 50 branches of BoK across the country. The agreement was signed by president of Best Remit Pvt Ltd Rajendra Shrestha and Chief Operation Officer of BoK Prabin Chettri. <br />
	<br />
	<strong><br />
	NMB Bank Retail Hub at Kantipath </strong><br />
	<br />
	NMB Bank has opened a branch and Retail Hub at Kantipath, Kathmandu. Chairman of the bank Aatma Ram Murarka inaugurated the new branch and bank retail hub on June 20 (Thursday).<br />
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		'Article' => array(
			'id' => '1173',
			'article_category_id' => '138',
			'title' => 'Atmospheric Changes Affects Economy: Experts',
			'sub_title' => '',
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			'content' => '<p>
	Atmospheric researchers from around the globe have opined that changes in the Asian summer monsoon have implications on the weather, people’s health, agriculture, and glaciers of the entire Hindu Kush Himalayan region. The researched discussed the connection between air pollution and Asian summer monsoon directly affecting to the economy of Nepal during a four day workshop from June 9 to 12 in Kathmandu.</p>
<p>
	Dr Rabindra Shakya, Vice-Chair of the Nepal National Planning Commission said that proper knowledge of monsoon can help increasing economy of the country through agriculture as 85 per cent of people are still dependant on agriculture in Nepal.</p>
<p>
	With around 100 participants, the workshop was jointly hosted by the International Centre for Integrated Mountain Development (ICIMOD) through its Atmosphere Initiative together with the US National Science Foundation, the National Center for Atmospheric Research (NCAR), the International Geosphere Biosphere Programme’s Integrated Land, Ecosystem, Atmosphere Processes Study (iLEAPS), the International Global Atmospheric Chemistry Project (IGAC), and the World Climate Research Program’s core project on Stratosphere Processes and their Role in Climate (SPARC).<br />
	<br />
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			'title' => 'Pakistan’s New Budget Focuses On Energy Sector Reform',
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	<img alt="" height="99" src="https://lh4.googleusercontent.com/YaWmOLfxJ3AoGDhAN6yocLI6ppx6zjYj3kIKwpNl-Ss=w149-h99-p-no" width="149" /></p>
<p>
	The newly formed government of Pakistan on Wednesday unveiled what is being termed as ‘an investment and business friendly budget’ with a total outlay of Rs3.5 trillion for the financial year 2013-14. Finance Minister, Senator Ishaq Dar presented the budget speech at the special session of the National Assembly convened by President Asif Ali Zardari for presenting proposals for Federal Budget 2013-14. The budget focused on boosting business activities includes significant increases in government spending for energy sector reform and development. </p>
<p>
	The budget envisages a record allocation of Rs 1.155 trillion for Public Sector Development Program (PSDP) with an aim to stimulate the economy which presently depicts a bleak picture. A big chunk of Rs 225 billion will be spent on energy sector. The government has allocated Rs 185 billion as power subsidy. The first budget of Nawaz Sharif-led government has allocated Rs 627 billion for FY 2013-14 defence compared to Rs 570 billion for the preceding year. Dar proposed an increase in General Sales Tax (GST) from 16 percent to 17, a decision which is going to further raise the prices of commodities for the people already battered by the worst price hike in the country. </p>
<p>
	As an austerity measure, Ishaq Dar proposed to bring down the expenditures of Prime Minister House by 45 percent, which he claimed will result in a national saving of Rs40 billion. There will be a complete ban on purchase of new cars for Prime Minister’s office but the ban will not be applicable for law enforcement agencies and other inevitable requirements. Ishaq Dar maintained that the circular debt amounting to more than Rs500 billion will be eliminated in 60 days. The budget proposes to abolish the ministers’ discretionary funds. </p>
<p>
	The budget for next fiscal earmarks an amount of Rs75 billion under Income Support Program. The tax exemption for luxury cars is proposed to be abolished while 1200 cc hybrid cars are being exempted from import duty. A concession of 50 percent has been proposed for 1200-1800 cc cars. Rs20,000 tax will also be applicable on the purchase of 1000 CC cars. A withholding tax on wedding cermonies being held at commercial venues has also been proposed along with taxes on foreign movies and dramas. GDP growth rate target for FY 2013-14 has been projected at 4.8 percent and revenue target at Rs2.475 trillion. (Agency)</p>
<p>
	<span style="font-size: 18px;"><strong>‘Nepal should learn from Pakistani government’s initiative’ </strong></span></p>
<p>
	Though a much larger economy, Pakistan is also facing long-standing electricity shortage like Nepal. The ‘loadshedding’ problem has taken a huge toll in Pakistan’s economic productivity and competitiveness. The daily schedule of up to 22 hour electricity cut has not only paralysed the lives of ordinary Pakistanis but also crippled once booming manufacturing and other business sectors. But, things are about to change as the newly elected government under Prime Minister Nawaz Sharif gave priority to boost the energy sector. Analysts say that the five-year reform plan and the significant budget increase in energy sector development highlights that the initiatives taken by Sharif government are in right direction. </p>
<p>
	‘We can learn from Pakistan,’ says Dr Suvarna Das Shrestha, the President of Independent Power Producers’ Association of Nepal (IPPAN). As Nepal government is set to unveil the annual budget for the fiscal year 2013- 14, Shrestha urged the government and political parties to acknowledge the urgency to reform the Nepali energy sector. ‘ Energy is one of the most important factors for country’s long-term economic growth, so government should address various problems seen in the distribution and production of electricity,’ he said. Shrestha added that budget increment in establishing nationwide high-voltage transmission lines would be the first step to reform the Nepali energy sector which will ensure the effective distribution of electricity produced. ‘There is also a need of budget allocation to subsidize the electricity production to encourage the private sector,’ he argued. Shrestha suggested that subsidising Power Purchase (PP) rate and Value Added Tax (VAT) along with bank interest rates would facilitate the private sector. According to him, the government should also allocate some money for hydropower research and development so that viabilities and possibilities of various projects can be found out with actual facts and figures. ‘The energy sector is one of the most depressed sector in the country because the overall budget allocation is just 2-3 per cent of the total government spending, now the allocation should reach at least 20-30 percent,’ he added.<br />
	<br />
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	<strong>By Sanjeev Sharma</strong></p>
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	&nbsp;I t Seems that regional smartphone makers are muscling through the gadget market dominated by big companies. The Indian smartphone manufacturer Colors is one among them. After the XFactor Quad, Colors has come up with another high-end smartphone - the XFactor Bold 2.</p>
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	Besides these, XFactor Bold 2’s other features are also very impressive. The 5.3 inch qHD display makes Bold 2 the first “Phablet” of Colors Mobile. The display’s 540 X 960 resolution and 16.7M colors makes photos and videos crisp and sharp. The capacitive display is very smooth in terms of touch response. It comes with a 12 mega-pixel rear camera. Users can take photos in the maximum resolution of 4000 X 3000 pixels which is only available in some high-end models of big smartphone makers. Bold 2 also has a 2MP front facing camera for video chat. There is no need to worry about storage capacity of the phone as it comes with a 4 GB internal memory. There is also a micro SD card slot which can be used to expand the storage up to 32 GB. The Touch-Bar form factor is very attractive as it raises the overall build quality.</p>
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	Colors has come up with a very clever idea by making Xfactor Bold 2 a dual-sim smartphone. With a dual-sim standby (and a micro-sim option), users can use two different mobile networks simultaneously. Bold 2 is also among the very few in high-end segment which allow users to use multiple network in a single handset. Wireless protocols like Wi-Fi and 3G makes the smartphone’s internet connectivity blazing fast. Bold 2 has different sensors like Proximity , G-sensor and Light sensor which may come handy in various occasions. It also houses a Bluetooth for data transfer and a FM for tuning into different local radio stations as well as well. The Yamaha Sound Engine of Bold 2 makes the overall sound performance very delightful with various options for music and video. Teletalk Pvt Ltd, the authorised distributor of Colors Mobiles in Nepal is offering this ‘Bold and Beautiful’ smartphone at the best buy price of Rs 20,000.</p>
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			'title' => 'Ajay Shrestha',
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	<span style="font-size: 20px;"><strong>‘We are securing our banking further, and bringing more people into the system’</strong></span></p>
<p>
	<img align="left" alt="" height="211" src="https://lh3.googleusercontent.com/DAJx8o_ZsL9-ZJvyFsvqbAJYWU3U37zniTin6BXFds8=w147-h207-p-no" width="150" /></p>
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<p>
	<strong>Ajay Shrestha CEO, ank of Kathmandu (BOK)</strong></p>
<p>
	<strong>Ajay Shrestha is the CEO of Bank of Kathmandu (BOK). In an interview with Sweta Sharma of The Corporate, Shrestha talked about challenges in the banking sector. Excerpts: <br />
	</strong></p>
<p>
	<strong>How have you evaluated BOK’s performance during the last two years? </strong><br />
	The bank’s financials have been stable for the last three years. The bank is also in a reasonable state in terms of profitability.&nbsp;</p>
<p>
	<strong>What are the challenges facing the bank and the entire sector in general? </strong><br />
	As the core market for the banking sector is still not developed in the country, there is a cut-throat competition among banking and financial institutions to get the maximum share of this limited pie. The cost level has also increased with increasing competition. Thus, it is very challenging for a bank to survive in such a competitive market.&nbsp;</p>
<p>
	<strong>The central bank has recently introduced changes to the account opening procedures. What is your take on the changes? </strong><br />
	NRB has recently directed banks to implement a new system, called Know Your Costumer, to keep better records of clients. We welcome the new system. But it definitely has made it difficult for banks to run smoothly.</p>
<p>
	NRB has come up with this new procedure at a time when majority of people still do not have access to banking. But now the procedure has been implemented to some extent. In my view, there are still large numbers of people who need to be encouraged to comply with the new system.</p>
<p>
	<strong>The central bank has said plans to increase the minimum paid up capital requirement for commercial banks to Rs 500 million. What is your bank’s strategy? </strong><br />
	The central bank is yet to decide on the issue. If NRB does increase the paid up capital requirement to Rs 500 million, we will comply with the directive. Earlier, we were successful in meeting the paid up capital requirement of Rs 200 million using our own sources.</p>
<p>
	<strong>The operational risks in banks have been reported to be quite high. How are you coping with that?</strong> <br />
	Operational risks are inherent in the banking sector all over the world. As more and more customers start using banking services, banks have no option but to switch to advanced banking procedures. The risks need to be addressed and minimised. We are complying with all prevailing laws to deal with operational risks. We are continuously reviewing our banking processes to make them more secure.</p>
<p>
	<strong>BOK launched a special scheme to invest in SMEs (small and medium enterprises) and clean energy. How has the experience been so far? </strong><br />
	SMEs are relatively new to Nepali banks. There are is no fixed definition of a small enterprise. It has been around four months since our bank started its SMEs scheme. The process of SME financing is not easy. A lot of research needs to be done before issuing loans.</p>
<p>
	In this regard, we are running financial literacy programmes for prospective SMEs, especially outside the valley. As part of the programme, we are working on building the knowledge base among people to help them understand the banking system. This has helped encourage people to some extent. <br />
	Clean energy is basically associated with environment. We are taking SME and clean energy schemes together.</p>
<p>
	<strong>While most banks have already adopted branchless banking, BOK is still to do so. Why is the bank so slow in adopting new technology? </strong><br />
	Switching to branchless banking requires equipment and investment. We do not rush to adopt new technology as we are very conscious about the outcome a change may bring in. At the same time, we are also into increasing our customer base. Our main mission is to bring more people into the banking system. We are mainly focused on sustaining our bank as a whole.</p>
<p>
	We are planning to provide branchless banking service at 11 locations for now. At the end of the fiscal year, we will be running branchless banking from 25-30 locations. Similarly, we will launch mobile banking soon.</p>
<p>
	<strong>Would you like to say something to your customers? </strong><br />
	We have increased our customer base to 2.5 lakh from 90,000 within three years of time. This is very encouraging for our bank. We want to double the number of customers in the next few years. Our greatest achievement is that we have 50 outlets. We also have 57 ATM counters. We have been successful in meeting our targets till now.<br />
	<br />
	 </p>',
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		'Article' => array(
			'id' => '1168',
			'article_category_id' => '148',
			'title' => 'Pepsi’s 20-20 Promotional Campaign',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Varun Beverages Nepal Pvt Ltd has launched p r o m o t i o n a l campaign named Pepsi 20- 20. Pepsi 20-20 is an Under the Crown promotion which is available on 250ml Pepsi, Mirinda, 7UP and Mountain Dew bottles with a red band on the crown. Every day, one lucky winner will win Rs 100,000 and in the bumper prize, customers can win Rs 2 million at the end of the campaign. The winners will be selected through a lucky draw every Sunday in the presence of media. The company has chosen the national cricket team captain Paras Khadka to be the face of the campaign.<br />
	<br />
	 </p>',
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		'Article' => array(
			'id' => '1167',
			'article_category_id' => '91',
			'title' => 'HSS Rating-Ranking Awards On June 19',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>By TC Correspondent</strong></p>
<p>
	New Business Age group, which is the leading business media of Nepal, with Nepali daily Arthik Abhiyaan, English monthly New Business Age, and English news-weekly The Corporate, is going to announce the most comprehensive rating-ranking-awards for the best performing Higher Secondary (Plus 2) Schools of Nepal. The Everest Bank sponsored awards are backed by co-sponsors like Hero Motobike, CAI, Prime CA and media partners like Himalaya TV, Headlines &amp; Music FM radio.</p>
<p>
	The awards ceremony will be on June 19, Wednesday, at Hotel Himalaya, and the ranking is based on voluntary disclosure of various data by interested leading HS schools of Nepal on multiple parameters and also the HS Council results of the schools in the last two years (2068 and 2069).</p>
<p>
	Detailed reports, rankings, profiles of leading schools and interviews of the Principals etc shall be first published in Arthik Abhiyan on Friday, June 21, and further detailed in education supplement of Arthik Abhiyan on Wednesday, June 26. Also, the forthcoming The Corporate edition next week will have two pages summary of the entire rating-ranking-awards and their parameters and winners. Further, the New Business Age edition of July 2013 will carry a detailed 10 pages report on the same. The Himalaya TV will also telecast one hour special program on this initiative starting this Friday, July 21, repeated for three days. Same will be done by Headlines &amp; Music FM radio for three days after results are announced.</p>
<p>
	The various parameters considered are HS academic results of two years (20 points), infra-structure with 10 points (campus, rooms, labs, etc), co-curricular activities, ECA, sports and social work together 20 points, faculty numbers and qualification, library and teaching tools etc together 20 points, preparation for and success in higher professional courses after HS with 10 points, and various other smaller parameters together being 20 points (like, integrating parents in the system, collaborations at national and international levels, etc).</p>
<p>
	The entire project is led by Prof Ujjwal K Chowdhury, former Dean of Symbiosis International University, Pune, India, and the Jury includes eminent persons like senior educationists Dr Dinesh Chapagain, Dr Bijay KC, younger educationists like Narottam Aryal, Roshee Lamichchane, eminent bankers like PK Mahapatra (CEO, Everest Bank), Sujit Mundul (Director, Standard Chartered), corporate professionals like Suman Sakya, Chang Agarwal, Sajita Joshi.</p>
<p>
	The initiative is designed to contribute to the understanding and practice of holistic multi-dimensional school education at plus 2 level, and not just focus on academic results of HS exams, and it also balances the inputs of the education system with the output in various forms of marks, awards, social work, higher professional admission, etc.<br />
	<br />
	 </p>',
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		'Article' => array(
			'id' => '1166',
			'article_category_id' => '153',
			'title' => 'Books Selling And Publishing Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>The increase in literacy rate has the books selling and publishing business of Nepal expanding substantially over the last decade or so. There are 8,000 booksellers of different scale in Nepal while the book trade and publishing industry employs over 100,000 people today.</strong><br />
	<strong><br />
	By Pinaki Roy<br />
	</strong><br />
	The 8,000 odd booksellers of Nepal deal in academic, professional, general and reference books along with the usual textbooks meant for schools, colleges and universities. Textbooks of all standards from school to university form the biggest chunk of the business. Quite naturally, all booksellers and publishers in Nepal focus on this segment. “As much as 90 per cent of the business revolves around selling text books for different levels,” says Likhat Prasad Pandey, Secretary General of National Booksellers and Publishers Association of Nepal (NBPAN). <br />
	<br />
	Textbooks’ selling takes place from Baishakh (mid April – mid May) to the middle of Jestha (end of May), also dubbed as the ‘school season’, Pandey informs. He adds that the publishers ready themselves for this season beforehand by completing the printing work of textbooks. “For the rest of the year, we have to largely depend on academic, fiction and non-fiction books which sell round the year, however, their business volume is much smaller compared to the textbooks,” he says. <br />
	<br />
	Nepal’s book publishing industry is growing at a sound rate every year. The dependence on Indian books for schools and colleges has reduced considerably over the years. While government textbooks are published by state-owned Janak Sikshya Samagri Kendra, the course books used in private schools are published by private booksellers locally. Publishers claim to also have the capacity of supplying books for the 10+2 level. <br />
	<br />
	There is also a great demand for reference and general books. Competition in the education sector has resulted in better teaching and learning requirements. The fact that reference and general books are additional sources of knowledge has helped the book market to expand. Booksellers attribute the surge in business to increasing literacy rate that has given rise to a growing number of readers and publishers alike. <br />
	<br />
	Bhrikuti Pustak Tatha Masalanda Bhandar at Exhibition Road mostly imports and sells foreign books. “Knowledge must not be confined in boundaries,” Pandey, who owns the enterprise says, “As per UNESCO, there must be free flow of books with no taxes and barriers whatsoever.” He informs that a number of local universities in Nepal prescribe 90 per cent of the books in the curriculum that are foreign-originated. Most books come from the UK, the USA and India. Most British and American publishers have their offices in India. The British and American books prescribed by the schools and colleges are reprinted in India and thus cost less. <br />
	<br />
	<strong>Publishing Hub <br />
	</strong><br />
	The decade-long conflict in Nepal compelled booksellers to diversify their trade, as it was difficult for them to sustain solely on tourist and general books. As new universities came into being one after another and better learning opportunities were created in schools and colleges, they quickly diverted their focus to academic books of general interest. <br />
	<br />
	The import of new printing technologies in Nepal has created better prospects for the industry. Madhab Lal Maharjan, Chief Executive Officer of Mandala Book Point, says, “If the government gives the right kind of support, we have already built a groundwork whereby Nepal can become a book publishing hub in the SAARC region after India.” He adds, “The quality of printing in Nepal is as good as anywhere in the world.”</p>
<p>
	<br />
	<strong>Book Council <br />
	</strong><br />
	A committee formed to draft a policy to regulate quality of books, both local and imported, has suggested that the government form a National Book Council. According to the draft, the council will be the apex body to regulate books and the book publishing business. The committee led by Shiva Kumar Rai, member of National Planning Commission, submitted the draft to the Minister for Education Dina Nath Sharma early this year. <br />
	<br />
	The draft policy focuses on ensuring standard for both local and imported books. The committee also recommended the government to remove Value Added Tax (VAT) imposed on imported books. It is aimed to help stop piracy of books in the market. According to the policy, only the books that meet criteria prescribed in the policy can be selected for curriculum. The draft policy also allows the government to scrap license of publishers if they are found printing vulgar contents and graphics. Strict policy against low grade publications was one of the suggestions given by publishers themselves. <br />
	<br />
	NBPAN too had approached Sharma to persuade the government to come up with a policy and set guidelines to ensure flow of correct information and quality control related to writers, publishers and printers. Pandey says that even pricing must be determined especially for text books in conjunction with all stakeholders – publishers, printers, writers, readers and distributors. It is all the more important because the country is a signatory to UNESCO guidelines therefore the government must implement and stakeholders must adhere to the same. <br />
	<br />
	<br />
	<strong>Major Challenges <br />
	</strong><br />
	None of the successive governments has seriously thought about promoting the publishing industry. The most essential requirement of the printing and publishing industry is paper which is comparatively more expensive in Nepal than in India. Other raw materials such as ink, negatives, plates and so forth cost more too that makes books published in Nepal pricier than those published in India. <br />
	<br />
	Due to a great number of schools, colleges and universities in Nepal setting shop in recent times, the demand for quality and standard books has increased significantly. Nepali booksellers have been importing books mostly from India for long. “The government must provide subsidy on different accounts such as plates, ink and paper etc to minimise costs and facilitate the private sector,” says Pandey. <br />
	<br />
	<br />
	<strong>Education and Book Fairs <br />
	</strong><br />
	The 17th Nepal Education and Book Fair 2013 held earlier this year had 87 stalls and was visited by 100,000 visitors. Global Exposition and Management Services (GEMS) organised the nine-day fair at Bhrikutimandap with a theme ‘Education is the right of every child’ in collaboration with NBPAN. The fair gratified the diverse interests of the readers by showcasing books on various topics like literature, fiction, non-fiction, banking, IT and entertainment among others. <br />
	<br />
	The main objective for organizing the event was to create a common platform for school, college and university students, educational professionals, parents, educational and training institutions from home and abroad, consultants, authors, printers, publishers, booksellers, readers, distributors and the general enthusiastic public. The book fair looked at publishing, selling and exchanging books among the book lovers. <br />
	<br />
	Pandey says that NBPAN plans to take the event to an international level from next year. Meanwhile, it is also going to organise ‘Nepal Rastriya Pustak Mela’ for the first time from 20 Mangsir this year for 10 days at City Hall on Exhibition Road. With this, NBPAN will have two book fairs of its own during the year. Pandey urges that the government must recognise the industry and also participate in its book fairs to the give the industry its due exposure. <br />
	<br />
	The association has been regularly participating in an international book fair in Delhi in February titled ‘Bishwa Pustak Mela’. It also took part in a book festival in Abu Dhabi in April this year for the first time. NBPAN is going to take part in a Hong Kong book festival, also for the first time, from 17-23 July.<br />
	 </p>',
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		'Article' => array(
			'id' => '1165',
			'article_category_id' => '152',
			'title' => 'Briefs (24 - 30 June 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>National Booksellers and Publishers Association of Nepal <br />
	</strong><br />
	National Booksellers and Publishers Association of Nepal (NBPAN) is an umbrella organisation of Book Sellers, Distributors and Publishers in Nepal. It works for the efficient management of Books and Publishing Industry in Nepal and makes recommendations to the government to develop related policies. It was established in 1990 as Book Publisher Association and the founder members included Ratna Pustak Bhandar, Educational Enterprises, Mandala Book Point, Himalaya Book Centre, National Book Centre, Ekta Books Distributors, Himal Association and Himalaya Book Seller among others. NBPAN organises National Book Fair every year and also participates in several international book fairs abroad. <br />
	<br />
	<br />
	<strong>Ratna Pustak Bhandar <br />
	</strong><br />
	The history of Nepal’s oldest book shop dates back to 1939 when Ram Das Shrestha started selling books, mostly religious, in a cart in Bhotahity near Ratna Park, Kathmandu. It was called Ram Das and Sons and renamed Ratna Pustak Bhandar in 1946 after his eldest son, Ratna Prasad Shrestha. <br />
	<br />
	Ratna Prasad Shrestha published the first book Bhagawat Strota, followed by Varnamala (alphabet book) in Nepali and Pancha Strota and made a historical foray by laying the foundation stone of Ratna Pustak Bhandar. The shop has since been providing a wide range of books to the people by publishing, importing and distributing throughout the country. Ratna Pustak Bhandar has also provided a platform for many aspiring writers, who are the literary figures of the nation now. Many prominent figures of the Nepali literary world were and are associated with this publishing enterprise. Ratna Pustak Bhandar was honoured with the prestigious Madan Puraskar Award on its Diamond Jubilee Anniversary. <br />
	<br />
	<br />
	<strong>Mandala Book Point </strong><br />
	<br />
	Mandala Book Point is a central meeting point among scholars, researchers, academicians, historians, anthropologists, and tourists visiting Nepal. The shop has more than 16,000 titles of different subjects ranging from children’s books to academic books. This book shop has a wide range of books on Anthropology &amp; Sociology, History &amp; Culture, Gender &amp; Politics, Art &amp; Architecture, Police &amp; Military Science, Carpets &amp; Textiles, Mountaineering, Trekking books &amp; maps, Wildlife &amp; Environment Science, Language &amp; Literature, Yoga &amp; Ayurvedic, Sports &amp; Health, Fiction &amp; Non-fiction Paperbacks, Lonely Planet and others guide books. The objective of Mandala Book Point is to acquaint its readers with the culture and religion of the entire Himalayan belt extending in the west from Karakoram to Bhutan in the east including Nepal and to protect and preserve the Himalayan heritage through the medium of books. <br />
	<br />
	<br />
	<strong>Ekta Books Distributors </strong><br />
	<br />
	Ekta Books has a 30 year long experience in the book publishing industry. It is one among the line of a few book publishers that have successfully completed a long journey. From its humble roots in Patan, Ekta Books has come a long way to being the best in the publishing sector. Its quality in both material and content in textbooks is unrivalled. Ekta Books was established in 1982 under the leadership of Ramchandra Timothy. This organisation was named Ekta Books and Stationers at the outset. Initially, the organization focused on distributing educational and sports materials. Gradually, it entered a new phase of publishing and in accordance to the laws of the then government; it was named Ekta Books Distributors Pvt Ltd. This was later meant to become a landmark in the history of publishing in Nepal. In 1990, a sister concern Ekta Educational Palace at Man Bhawan, Lalitpur was established to cater to the rising necessity of books in Nepal. The company also has a sister organisation called Ekta Book House at Pradhan Nagar, Siliguri as well as a branch in Lamachaur, Pokhara.<br />
	 </p>',
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			'title' => 'Top Ten Losers (24 - 30 June 2013)',
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			'title' => 'Shiva Ram Leading Surya Nepal Central Open',
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	Shiva Ram Shrestha opened up an eight-stroke lead after the third round of the Surya Nepal Central Open at the par-72 Gokarna Golf Club on Wednesday. Defending champion Shiva Ram carded seven-under 65 for a total of 14-under 216. Sanjay Lama of Army Club is second at six-under 210 after he played a round of two-under 70. RNGC’s Ram Thapa, who carded six-under 66, is third at four-under 212.<br />
	<br />
	Shiva Ram carded five-under 31 and two-under 34. He carded birdies on the first, second, third, fifth, eighth and ninth holes on the front nine and faced a bogey on the sixth hole. On the back nine, Shiva Ram carded birdies on the 15th and 16th holes.<br />
	<br />
	Sanjay took the turn at two-under 34. He sank an eagle on the par-5 third hole and carded a birdie on the second hole. He faced a bogey on the sixth hole. On the back nine, Sanjay carded a birdie on the 12th hole and faced a bogey on the 14th hole. Ram played three-under 33 on both the halves. On the front nine, Ram carded birdies on the third, fourth and eighth holes. On the back nine, he carded birdies on the 12th, 13th, 16th and 17th holes against a birdie on the 14th hole.<br />
	<br />
	Ramesh Adhikari of RNGC is fourth at even-par 216, while Pashupati Sharma of Gokarna Golf Club is next with 217. First-round leader Ramesh Nagarkoti fell further to share the sixth position with two-over 218 with No 2 pro Rabi Khadka.<br />
	<br />
	In Amateur section, Dinesh Prajapati opened up seven-stroke lead over Tirtha Poudel. <br />
	Dinesh carded two-over 74 for a total score of five-over 221. Tirtha also played 74 for a total of 12-over 228. Tanka Bahadur Karki is third at 229, while Bikash Bogati is next at 234.<br />
	 </p>',
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			'title' => 'Weekly Gold And Silver Price (24 - 30 June 2013)',
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			'id' => '1161',
			'article_category_id' => '151',
			'title' => 'CNI Demands Plan For Per Capita Income Of USD 3000',
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			'content' => '<p>
	<strong>By TC Correspondent<br />
	</strong><br />
	<br />
	Confederation of Nepalese Industries (CNI) has demanded with the government to bring out plan to increase Per Capita Income of Nepalis to USD 3000 within 10 years. Hari Bhakta Sharama, vice-chairman of CNI has stated that for this purpose, private sector is ready to cooperate with government. He also suggested joint efforts of the government and private sector in the development and growth of agriculture, tourism and cottage industries. CNI has also asked the government for increasing the level o income that is income tax exempted. It has requested the government to make tax exempt an income upto Rs 400,000 for individuals and Rs 500,000 for families. At present these numbers are Rs 160,000 and Rs 200,000 respectively. <br />
	<br />
	The businessmen have also asked for custom duty revision, VAT reform, financial sector and capital market development. <br />
	Responding to the concerns and suggestions of the businessmen, Finance Minister Shankar Prasad Koirala said the government would not make any change in VAT and income tax threshold in the coming budget.<br />
	<br />
	<br />
	<br />
	 </p>',
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			'title' => 'Nepse Freefall From 495 Points',
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			'content' => '<p>
	<strong>By Rashesh Vaidya</strong><br />
	<br />
	Nepse dropped by 6.43 points during previous week. It had closed 494.98 on Sunday, 16th June (the first trading day of the week) and reached 488.55 at the close of Thursday, 21th June (the last trading day of the week). The market floor was open for five days. <br />
	<br />
	In the week, the banking sub-index dropped the highest by 8.92 points closing at 480.60 points. Similarly, the hotel sub-index dropped by 2.83 points. The banking sub-index came down due to fall in the share price of most of the commercial banks. The share price of Himalayan Bank Ltd dropped the highest by Rs 24 per share during the week closing at Rs 676. Similarly, insurance sub-index also declined by 4.91 points. Decline in the share prices of four insurance companies (out of nine traded) during a week made the sub-index fall down to 880.42 points from 885.33 points. At the same time, drop in the ‘others’ sector sub-index continued in the week. Manufacturing and processing sub-index and hydro-power sub-index increased by 0.68 points and 1.99 points respectively. There was no change in trading sub-indices during the week. <br />
	<br />
	Shares of 120 companies were traded at Nepse during the week through 5,077 transactions amounting to Rs 392,787,000. The total number of scrips traded was 1,587,650 which is 407127 scrips more than that of earlier week. Everest Bank topped the list in terms of transaction amount (Rs 103,021,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 379,201scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (638). During a week, a total of 561,600 scrips of bonus shares of Prime Life Insurance Company were listed at Nepse.<br />
	<br />
	<strong><br />
	Nepse on Sunday<br />
	</strong><br />
	Nepse Index dropped by 0.92 points today (June 23) from Thursday (June 30) close. The index closed at 487.53 points. Only trading sub-index &amp; finance sub-index increased by 3.28 points &amp; 0.21 points resepctively. There was no change on manufacturing &amp; processing sub-index. Sensitive Index also dropped by 0.10 points clising at 121.30 points. The total of 566,766 shares were traded during a day.<br />
	<br />
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			'id' => '1159',
			'article_category_id' => '108',
			'title' => 'Money Maters News In Brief (24 - 30 June 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>Machhapuchhre at Ghorahi <br />
	</strong><br />
	Machhapuchhre Bank opened a branch at Ghorahi, Dang on June 19. With this, the number of branches of this bank reached 54. One of the promoters of bank Dr Birendra Mahato inaugurated the branch. <br />
	<br />
	<br />
	<strong>Prime Life Shares Dematerialised <br />
	</strong><br />
	CDS and Clearing Limited (CDSCL) and Prime Life Insurance Company Ltd have signed an agreement for the dematerilisation of the shares of the bank. The agreement was signed by CEO of CDSCL Subodh Sharma Sigdel and CEO of Prime Life Insurance Restha Jha. <br />
	<br />
	<br />
	<strong>Gaumukhee IPO Twice Oversubscribed <br />
	</strong><br />
	The Initial Public Offering (IPO) of Gaumukhee Bikas Bank was oversubscribed twice. IPO of the bank was closed on June 17. The bank had issued 1,20,000 units shares on June 12, allocating 2400 units for employees and 6000 units for mutual fund companies. The bank’s paid up capital stands at Rs 28 million and its reserve surplus is at Rs 717,000. NMB Capital was appointed as Issue Manager for this Initial Public Offering. <br />
	<br />
	<br />
	<strong>BoK &amp; Best Remit Tied-up <br />
	</strong><br />
	Bank of Kathmandu (BoK) and Best Remit have signed an agreement for providing the remittance service. The money sent through Best Remit can be paid through 50 branches of BoK across the country. The agreement was signed by president of Best Remit Pvt Ltd Rajendra Shrestha and Chief Operation Officer of BoK Prabin Chettri. <br />
	<br />
	<strong><br />
	NMB Bank Retail Hub at Kantipath </strong><br />
	<br />
	NMB Bank has opened a branch and Retail Hub at Kantipath, Kathmandu. Chairman of the bank Aatma Ram Murarka inaugurated the new branch and bank retail hub on June 20 (Thursday).<br />
	 </p>',
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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00

Update : 2020-03-25

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