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			'title' => 'South Asia To Take Worst Hit Of Climate Change',
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	South Asia, with India right in the centre, South-East Asia and Sub-Saharan Africa are likely to face the worst heat from climate change, a study released by the World Bank predicts. Last year the bank had released a report that estimated that by the end of this century the world would be warmer by 4 degree Celsius, which would severely impact agricultural production, water resources, coastal ecosystems as well as the cities. This is in comparison to the pre-industrialisation days. <br />
	<br />
	The new report predicts that globally a 2 degree Celsius rise in temperature is likely to lead to a 20 per cent dip in water availability. Further, a 4 degree rise will create severe water stress with availability declining by 50 per cent. In a grim finding, the report suggests that sea levels may rise by 50 cm as early as 2050 and by 100 cm by 2100. This could result in several heavily populated portions of land going under water. Indians may well have to get used to extreme summers, increased drought as well as increased flooding as precipitation patterns change dramatically. <br />
	<br />
	<strong>(The Hindu Business Line)<br />
	<br />
	Nepal Becoming More Vulnerable</strong><br />
	<br />
	Nepal is also witnessing a significant impact of the climate change along with other South Asian neighbours. Although Nepal’s contribution to Climate Change is negligible compared to the developed and major developing countries, it is becoming more vulnerable to the economic and ecological impacts of climate change .The mountain region is experiencing an increasing frequency and intensity of extreme climate events such as Glacial Lake Outburst Floods (GLOF), flash floods, monsoon floods and cloudbursts, which in turn bring down huge amounts of sediment thereby causing widespread damage to property and life in lower areas. <br />
	<br />
	Similarly, the Terai region is also experiencing harsh winter fog. The traditional resilience of the region and its people is rapidly being eroded by a growing reliance on and over-exploitation of natural resources which is threatening sustainability. Nepal’s vulnerability to climate change is clearly tied to its water resource management. Water resources are linked to livelihoods and development through hydropower, irrigation, health, and disasters. Changes in hydrological cycle and the gradual depletion of water resources are some of the top environmental challenges that Nepal is facing in the context of global warming. Sharply shrinking of forest areas is also a major concern. <br />
	<br />
	Experts warn about the effect of climate change on Nepali economy.’ All these factors are seriously threatening Nepal’s agricultural output which highly depends upon rainfall rather than irrigation,’ says Manjit Dhakal, Program Director of Clean Energy Nepal, the secretariat of Climate Change Network Nepal. ‘Now-a-days dry season is getting more dry while wet season is becoming more wet, the seasons have become unpredictable too,’ he said pointing to the environmental anomaly. According to Dhakal, hydropower and tourism are among other sectors to be affected as Nepal’s energy production and inflow of foreigners are directly related to the change in climate. <br />
	<br />
	‘Climate change has become a major international issue, talking about global scenario we can see that it has evolved as a political, economic and diplomatic issue , the government should realize this as we are among the most suffering from global warming,’ Dhakal mentioned. He suggested the government to step forward for the proper and effective implementation of policies related to climate change. ‘Priority should be given for implementation rather than adoption of policies, we’ve experienced that by just printing policies in a paper won’t be of any help,’ he added.<br />
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			'title' => 'News In Brief (24 - 30 June 2013)',
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	<strong>Fed Hints of Ending Asset Purchases</strong><br />
	<br />
	The US Federal Reserve has maintained the rate of its asset purchase programme at $85bn a month, but could start scaling it back soon.It also kept interest rates at a record low range of between zero and 0.25%. Fed chairman Ben Bernanke said on Wednesday that if the central bank’s forecasts were correct, it could begin slowing asset purchases by the end of 2013 and wind them down completely by the middle of 2014. (Agency)<br />
	<br />
	<img alt="cocacola" border="1" height="107" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/cococola.jpg" vspace="10" width="150" /><br />
	<br />
	<strong>Facebook Reaches 1 mn Advertisers Globally</strong><br />
	<br />
	Facebook Inc said on Tuesday that it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth. A vast majority of those advertisers are small business owners who have flocked to the world’s No 1 social network. (Agency)<br />
	<br />
	<br />
	<img alt="" src="http://www.newbusinessage.com/images/thecorporate/gold.jpg" /><br />
	<br />
	<strong>Gold Recovers After Market Rout</strong><br />
	<br />
	Gold rose 1.3 percenton Friday, rebounding from nearly a three-year low earlier, but for the week it still dropped the most in nearly two years after the U.S. Federal Reserve’s most explicit indication to end its stimulus sparked a global market rout. Spot gold closed up 1.3 percent at $1,291.60 an ounce after having earlier hit its lowest since September 2010 at $1,268.89 an ounce. (Agency)<br />
	<br />
	<br />
	<strong>UK banks Told to Plug £27bn Hole</strong><br />
	<br />
	UK lenders need to raise billions more in capital to cover their risks, according to their financial regulator. The Prudential Regulation Authority (PRA) says Britain’s top banks and building societies need to fill a £27.1 billion hole in their balance sheets. Royal Bank of Scotland was the regulator’s main cause of concern, accounting for £13.6 bn of the total. Lloyds Banking Group accounted for £8.6bn and Barclays £3bn. Nationwide had a shortfall of £400m. (BBC)<br />
	<br />
	<img alt="ukbanks" border="1" height="80" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/china.jpg" vspace="10" width="150" /><br />
	<br />
	<strong>China’s Manufacturing Slows Further</strong><br />
	<br />
	China’s manufacturing activity weakened further in June, falling to a nine-month low as demand fell, according to a preliminary survey by HSBC. The bank’s Purchasing Managers’ Index (PMI) declined to 48.3, from May’s reading of 49.2. A reading below 50 indicates a contraction. The weak data comes amid fresh concerns over the health of Chinese economy, the world’s second-largest. (Agency)<br />
	<br />
	<br />
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			'title' => 'Swagat Shrestha',
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	<strong>‘Need fusing science and technology with business’<br />
	</strong><br />
	Swagat Shrestha is the Chairperson of Higher Secondary School’s Association of Nepal’s Kathmandu Chapter (HISSAN KTM). Sweta Sharma of The Corporate Weekly talked with Shrestha about overall education system of Nepal, its reforms, problems and challenges. Excerpts: <br />
	<br />
	<br />
	<strong>How do you evaluate the present education system of Nepal? <br />
	</strong><br />
	Education system of Nepal has improved in a satisfactory way. There have been improvements in courses and vocational and business education are introduced in government schools and colleges. <br />
	<br />
	<br />
	<strong>Comparing with the last year, SLC pass percentage is quite low this year. What do you think might be the reason behind it? <br />
	</strong><br />
	The government has allocated 17 per cent of budget for education. Looking at this, the SLC pass percentage is quite discouraging. This is an issue to be considered seriously. In cities like Kathmandu, we do have 80-90 pass percentages. But the government schools mainly those of out of valley have only 10- 12 pass percentage. Earlier, many schools openly helped students cheat in SLC exams. This year, the examination was very strict, and the papers were also evaluated strictly which might have caused this decline. <br />
	<br />
	<br />
	<strong>One of Nepal’s Millennium Development Goals is to have 100 per cent enrollment in primary school. To what extent do you think it would be possible? <br />
	</strong><br />
	These days, people are quite aware of the importance of education and literacy. Especially in villages, more and more people are being aware about education and we must thank political parties for this as they keep visiting villages for various awareness programmes. This has led to expect some good changes in education sector and I do think there is the possibility of educating a huge portion of the population. <br />
	<br />
	<br />
	<strong>What major reforms do you think are necessary for Nepal’s education system? <br />
	</strong><br />
	The education system of Nepal is city-oriented as must of educational institutions are located in the major cities. Private sector is basically surviving on its own and they have the inclination towards staying where they see good business possibility. It is government’s responsibility to provide education free of cost but instead there is impractical policy that requires educational institutions to pay VAT like tax to the government. <br />
	<br />
	But above all, the major problem of Nepal is political instability and it has affected almost every sector. Every sector is politicized and education sector is also affected largely. Also, we are copying the foreign curriculum and that cannot always be relevant for us. The education system should rather be based on our country’s need and demand. People need to set an example by contributing in Nepal so that the future generations too could be encouraged to stay in Nepal. And if the government educational institutions could provide better education, then the private ones can gradually phase out. <br />
	<br />
	<br />
	<strong>Government has failed in creating satisfactory long term education policies. What are your comments on this? <br />
	</strong><br />
	This is all due to unstable government. The frequent change in government is affecting policies to sustain in the long term. Reforms, policies, rules and regulations get changed with the change of government. Even though the policies are good, it definitely will be changed with new government, and it is so frequent. Still we can hope for positive changes in educational sector as there are possibilities. <br />
	<br />
	<br />
	<strong>What is your suggestion to keep education sector free from political intervention? <br />
	</strong><br />
	The unhealthy competition among major political parties has brought this problem of intervention in every sector request all the major political parties to leave at least the schools free from politics. The political parties should point out the weakness of private educational institutions and we are ready to do our best to overcome those weaknesses. This will help to run the education sector more peacefully. <br />
	<br />
	<br />
	<strong>Students seem to be more attracted towards A-level courses in the recent days. Why is +2 education gradually losing the attraction? <br />
	</strong><br />
	I disagree to this because more number of students are still attracted to +2 colleges. A-level course is of international standard and is also quite expensive. I think A-level degree is not suitable for Nepal. The majority of the students are in +2 colleges rathen than in A-level colleges. Yes, I do agree that the courses are quite advanced in A-level, but it also has its own problems. <br />
	<br />
	<br />
	<strong>It is quite confusing to choose good educational institutions. What do you suggest to the students and guardians? <br />
	</strong><br />
	Distance matters a lot, so it is better to choose those institutions which are quite near to your residence as it would consume less time. There should be enough information about the people who are running the institutions. Educationists can run the institutions well and they will be more inclined towards providing better education. Results of past few years should also be taken into consideration. In addition, the institutions should possess basic infrastructure and facilities where students could find an environment to boost their abilities. If these parameters are considered, it will be relatively easier to select a good school or college. <br />
	<br />
	<br />
	<strong>What unique characteristics do you think your institution Kathmandu Valley College (KVC) possesses when compared to the other colleges? <br />
	</strong><br />
	We have daily evaluation system where every student is supposed to appear in test at the end of the day. In this regard, I can say that our evaluation system is unique. We organize seminars and presentations every Friday to boost the students’ communication and presentation skills. We are also focused on promoting our culture. We also provide ‘Joyful Parenting Training’ where parents and students can interact with each other properly to understand each other’s point of view. We also provide job placement trainings to the students. Broadly speaking, we provide our students with reality based education. <br />
	<br />
	<br />
	<strong>What new programs are you going to introduce in near future which you think will be beneficial to boost the education system of Nepal? </strong><br />
	<br />
	We are going to provide professional computer training to students and we will also certify it. In coming year, we are adding BBA and MBA level according to the demand of students and the market. But our college is more focused on science and technology which is very important for Nepal’s development. We need fusing science and technology with business. This will help to increase the value of products and it ultimately will help to boost Nepal’s economy as well. It also will make our education system more advanced.<br />
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	<strong><span style="font-size:9.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
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	<strong><span style="font-size:14px;"><span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">Delay in passage of the government’s budget during the past few years has had a telling effect on the economy. As the government prepares its budget for the upcoming fiscal year, The Corporate talked to to representatives of the private sector and the government about it. Excerpts: </span></span></span></strong></p>
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	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Dr Jagdish Chandra Pokharel<br />
	Former Chairman<br />
	National Planning Commission </span></strong></span></p>
<p>
	<span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">The government should introduce a budget that helps in increasing the capital expenditure. The capital expenditure should be stimulated in a proper manner. Another important thing is that the new budget should not be distributive like the previous ones. The growth rate should be fixed in a pragmatic way. Earlier governments had fixed the rate just to garner the popularity of general public. Similarly, government should ensure the social security schemes if possible. Inflation is pretty high these days. So the government should bring the budget that can control the inflation. </span> </span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;<img alt="bhaskar" border="1" height="113" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/bhaskar.jpg" vspace="10" width="100" /></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Bhaskar Raj Rajkarnikar<br />
	Senior Vice-president<br />
	Federation of Nepalese <br />
	Chambers of Commerce and Industry (FNCCI) </span></strong></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">The very first thing is that we need a full-fledged budget and that needs to be passed on time. Delays in the passage of the budget in the past few years have affected many areas of the economy. The upcoming budget should be a private sector-driven one. A large portion of the budget pie should be allocated for development activities. Similarly, the budget should give due consideration to issues related to unemployment, safe employment and labour problems. </span></span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;<img alt="Meghnath Nath Neupane" border="1" height="116" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/meghnath.jpg" vspace="10" width="100" /></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Megh Nath Neupane<br />
	Director General<br />
	Confederation of Nepalese Industries </span></strong></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span style="line-height: 115%; color: rgb(34, 30, 31);">The most important thing for now is that the government is bringing out a full- fledged budget. Government should identify the areas where the budget can be spent with expected outcomes. Till now, budget has mostly been of politics-oriented type. The new budget should be completely development-oriented which could help conduct the developmental activities smoothly. The trade deficit of the country is quite high for now and considering this issue, government should bring the budget that should be export -oriented. If government could not bring such budget, then at least the budget should include some import substitution measures. This will help to balance the economy.</span></span></p>
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			'title' => 'Sharda Group: Known For Diversified Products',
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	<strong>Shiva Ratan Sharda<br />
	Chairman, Sharda Group<br />
	(Industrial &amp; Trading House)<br />
	<br />
	<br />
	<br />
	<br />
	By Sushila Budhathoki<br />
	</strong><br />
	Sharda Group (SG) is a group of companies that emerged as a business conglomerate over a span of less than 30 years with an annual turnover in excess of US $150 million. “By doing businesses that are in demand, we succeeded to establish ourselves in the market in a short period of time. The group is continuously producing diverse products to address the different needs of the customers since its inception,” shares Rajesh Koirala, General Manager at the group. <br />
	<br />
	Every company where the group invested huge money proved to be the right business as it contributed to the growth of the group. SG has been involved in a wide spectrum of industrial operations, manufacturing and trading products, ranging from industrial goods to consumer durables and non-durables. From carpets, flour, rice, footwear to oxygen, the group has been introducing various products according to the market demand. SG owns many big industries in Nepal including Asian Thai Foods- a popular name for noodle manufacturing, Pashupati Khadya Tel Udhyog- the first private sector manufacturer of refined oil in Nepal, Shivam Cements among various others. These manufacturing industries are located at Morang, Sunsari, Kathmandu and Hetauda. <br />
	<br />
	Starting from Hetauda Iron Industry, an iron manufacturing company in BS 2040, the group now has more than 20 companies with all sound business. “The establishment of iron industry was a major breakthrough in expanding of our business. The group have turned that iron industry into a company named Premier Wires that produces GI wires now,” says Koirala. Before forming the group, the group members had various other investments in gold trade, rice mills, oil industry and different small industries that eventually led them operate companies with diversification of products. <br />
	<br />
	The changing global socio-economical scenario had also set the course of businesses for the group, according to a message posted by the Chairman Shiva Ratan Sharda in their website. According to him, good quality products and services, high production capacity, prompt delivery and warm interaction with the consumers have further enhanced the reputation that the group carries. And this combined with an excellent marketing network has enabled them to cover a wide market. The Group’s Chairman is also the immediate past Chairman of the Kumari Bank. <br />
	<br />
	<br />
	<strong>Multi-product Companies </strong><br />
	<br />
	The group has established a number of industries that require high to low investments. The group has invested some Rs 1.5 billion in instant Noodles industry and in cement; the investment is around four billion. The group has also established a company, Premier Wires that produces GI wires with the capacity of 21,000 MT yearly. In plastic, it owns three various companies - Atlas Pet Plastic Industries, Premier Polymers and Pashupati Synpack for producing a wide variety of plastic products. It also produces oxygen from its two companies namely Binayak Oxygen Industries and Kantipur Oxygen Pvt Ltd.<br />
	<br />
	The group of industries has also established Asian Thai Foods with an automatic plant with a capacity of producing eight hundred thousand packets of 75gms noodles per day. For homecare products, there is a company called Cosmic Homecare that mainly manufactures a variety of mosquito repellent coils in various shapes. Other companies like Pashupati Rice and Oil Mills and Nutri Foods produce flour and rice while rubber and footwear products are produced in two companies - Lion Rubber Industries and AC Footwear. Nutri Foods Pvt. Ltd produces energy foods as well. <br />
	<br />
	The group is also involved in trading of wide variety of products including metals like copper and brass, electrical goods, machinery, FMCGs, chemicals among many others. Moreover, it has also invested in BFIS (Banking and Financial Sectors) starting with the Sunrise Bank Limited and Nepal Merchant Banking and Finance Ltd. It is also targeting hydro power projects as its new sector for investment with the Riddi Hydropower Development in hands. <br />
	<br />
	<strong><br />
	Grabbing Consumer Market </strong><br />
	<br />
	Like the products, the clients are also varied which include government projects, NGOs, private sectors and general people. According to Koirala, the Group’s specialization is in house wires, GI wires obtaining 10%, 20-25% and 15% market share respectively.&nbsp; The group regards its companies among the top five companies in Nepal. “We never compromised in quality. No one can point us about the quality of the products,” he shares. The noodles products including RumPum acquire second position in the market. It also exports some of the products to India and Bhutan. <br />
	<br />
	The market sometimes turns bad for the investors. Bishnu Shrestha, Sales and Marketing Manager at SG says, “We had a very good sale of ghee in the past. We used to export these products in other countries as well. But the business has gone down now,” Basically a manufacturing conglomerate, SG is also facing power shortage problem like many other industries in Nepal. And the competition is also harsh though they say it is healthy. Koirala says, “There are competitions in various forms mainly in terms of quality and price. And we are surviving despite the huge competition in the market. This is very important for us.” <br />
	<strong><br />
	<br />
	Management Strategies </strong><br />
	<br />
	The group employs more than 1,500 including the labour force in its various companies. Many of the workers in the organization are working for many years and some of them have served their 20- 30 years in the company. Koirala who is also serving the company for the last 20 years says, “We have a very systematic channel to maintain the workforce in our companies. There is a factory in-charge in every manufacturing section who reports to directors and the directors report to the concerned executives.” <br />
	The Chairman often meets employees in person that has, according to Koirala, contributed in creating the family environment in the company as well as building the trust among the employees. <br />
	<br />
	<strong><br />
	Future Strategies </strong><br />
	<br />
	With more quality products, the group is planning to operate more efficiently in the future. The group is planning to come with new industries and product in near future. Asian, a new biscuit from SG is preparing to appear in the market and the trial production for the same has been already conducted. A liquor industry is also in its pipeline. It is also eying to exploit the potentials and opportunities offered by IT and Telecom Industry in Nepal.<br />
	<br />
	<span style="font-size:14px;"><br />
	</span></p>
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	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Nutri Foods Pvt Ltd <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Energy and baby food products </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Binayak Oxygen Industries Pvt Ltd, Sonapur, Sunsari <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Medical and industrial oxygen gas cylinders, nitrogen gas cylinders </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span><strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Kantipur Oxygen Pvt Ltd, Harisiddhi, Lalitpur <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Oxygen cylinders for industrial and medical purpose </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Pioneer Marketing <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Import-export of copper, brass scrap, zinc ingot, zinc dross, MS plates, rice, silk, betel nuts, food products, chemicals, milk powder, sunflower oil, chocolates, dates </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span><strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Samiksha Enterprises <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Import and marketing of electrical goods, machinery, consumer goods and chemicals </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">CSR Activities <br style="mso-special-character:line-break" />
	</span></span></strong><br />
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Sharda Group believes in giving back to the society in the form of Corporate Social Responsibility (CSR) activities. The group says that the group’s contribution in development of commerce and industry has been widely recognised by the state as well as the general public. Some of the recent CSR activities include:&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">• Establishment of Dulichand Sharda Athithi Sadan in Lahan </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Establishment of Ram Kumar Sharda Uma Shankar Murarka General Hospital with 25 beds and handed over to the government </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Contributed to hostel building construction of Pashupati High English School </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Contributed to high schools and temples in Lahan and Biratnagar </span></span><span style="font-size:14px;"><span color:="" myriad="" style="line-height: 115%; font-family: "><br />
	• Donations to scholarship funds for awarding deserving students<br />
	<br />
	<br />
	<strong>Success Mantras</strong><br />
	<br />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span color:="" myriad="" style="line-height: 115%; font-family: ">- Honesty to the consumers<br />
	- Quality products<br />
	- Hard working employees<br />
	- Diversified products<br />
	- Passion for performance<br style="mso-special-character:line-break" />
	<br />
	<br style="mso-special-character:line-break" />
	</span></span></p>',
			'published' => true,
			'created' => '2013-06-24',
			'modified' => '2013-07-15',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Sharda Group (SG) is a group of companies that emerged as a business conglomerate over a span of less than 30 years with an annual turnover in excess of US $150 million. “By doing businesses that are in demand, we succeeded to establish ourselves in the market in a short period of time. The group is continuously producing diverse products to address the different needs of the customers since its inception,” shares Rajesh Koirala, General Manager at the group.',
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	),
	(int) 6 => array(
		'Article' => array(
			'id' => '1136',
			'article_category_id' => '91',
			'title' => 'NPR Hardest Hit In South Asia By Dollar Strengthening',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>&nbsp;By Sanjeev/Rashesh/Yagya</strong><br />
	<br />
	While almost every currency in the world is losing its price against the US Dollar, last week the Nepali Rupee was hit the hardest among all South Asian counterparts. The exchange rate between Nepali Rupee and US Dollar hit record high on Wednesday (June 12). The reference exchange rate set for that day by Nepal Rastra Bank was Rs 93.19 (for buying) and Rs 95.99 (for selling) per dollar. This is the highest after eight months. However, the banks can fix their own rate based on central bank’s reference rate. <br />
	The strengthening of USD has caused mixed reactions in South Asian Forex markets (see table and charts). Sri Lanka’s rupee fell on Thursday as foreign investors booked forwards to hedge their exposure, amid a trend of foreign outflows in other Asian peers in the wake of rise in U.S. Treasury yields. Maldivian Rufiyaa is seen relatively stable than other SAARC nation currencies as the country’s earnings from the tourism sector looked robust. Bhutanese Ngultrum which is pegged with Indian Rupee followed the path of Indian currency though the country’s economy seemed fairly strong in near and medium terms. <br />
	<br />
	Meanwhile, Bangladeshi Taka maintained stable rate against the USD as earnings from the country’s garment exports increased further. Afghanistan’s currency Afghani is also seen as best performer as the country’s forex reserve increased due to the amount of financial aid from United States and it’s allies sharply rose. Pakistani currency didn’t witness substantial pressure in recent volatility as the new government unveiled a ‘business friendly’ budget and pledge to revive the ailing economy. The Chinese Yuan also performed better than some South Asian currencies though the government signaled to slow the pace of currency appreciation. <br />
	<br />
	The weakness of the Indian currency is the main cause of the sharp devaluation of Nepali Rupee. On Thursday (June 20), the Indian Rupee hits a new all-time low against the USD trading at 60 per dollar. Nepali currency which maintains exchange rate peg with the Indian Rupee was hammered by the sharp decline. The Indian currency is under huge pressure as the country’s Current Account Deficit (CAD) continues to widen in a fast pace. Amid Weakening exports, spike in gold and petroleum imports are seen as the major factors for increasing India’s trade deficit which is ultimately widening the country’s CAD. The capital flight from India in recent months is also seen as another factor for weakening rupee as foreign investors are buying more greenbacks. <br />
	<br />
	<br />
	<br />
	<strong>Fed’s policy reversal <br />
	</strong><br />
	The trend is blamed on the indication from US Federal Reserve that it would now reverse the policy of Quantitative easing (QE), thus signaling advent of tighter money supply policy. The improvement in US manufacturing, retail business and housing sector along with decreasing unemployment rate have prompted the Fed to make such policy reversal. Fed Chairman Ben Bernanke said on Wednesday the central bank will continue to reduce the pace of bond purchases in measured steps through the first half of next year, ending purchases around mid-year if the US economy continued to show strength. The Fed has been pumping massive amount of liquidity through the QE programme since 2008 to stimulate the US economy in the wake of global financial crisis. After Bernanke’s comment the long-term interest rates in US soared as investors flocked to more attractive government bonds. This resulted in sky rocketing the US Treasury yields to 10 year high causing a broad rally in USD. <br />
	<br />
	In context to Nepali economy, the strengthening of the US dollar is seen as one of the factors of negative impact. For a country with the increasing trend of trade deficit, stronger dollar brings negative impact on the balance of payment of Nepal. Recent volatility indicates that weakening of Indian currency will continue in near-term. As a result, Nepali Rupee may further depreciate and weaken the economy which is already facing various macroeconomic risks. Analysts say that the possibility of capital flight from Nepal is very high by the continuous devaluation of Nepali Rupee. According to them, the combination of negative real interest rate and return on savings along with weak investment environment has created situation of large capital flight from the country.<br />
	<br />
	 </p>',
			'published' => true,
			'created' => '2013-06-24',
			'modified' => '2013-07-25',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'While almost every currency in the world is losing its price against the US Dollar, last week the Nepali Rupee was hit the hardest among all South Asian counterparts. The exchange rate between Nepali Rupee and US Dollar hit record high on Wednesday (June 12). The reference exchange rate set for that day by Nepal Rastra Bank was Rs 93.19 (for buying) and Rs 95.99 (for selling) per dollar.',
			'sortorder' => '999',
			'image' => '1372065557.jpg',
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			'main_news' => false,
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		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '1123',
			'article_category_id' => '72',
			'title' => 'YouTube Launches Paid Subscription Service',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	YouTube is launching a pilot program in which users can pay to subscribe to channels like Ultimate Fighting Championship and Sesame Street. Subscription fees start at 99 cents per month, and viewers can test out a channel for free as part of a 14-day trial. Once they sign up, subscribers can watch the paid channels on phones, tablets, PCs and connected televisions. <span style="font-size:10px;">(money.cnn.com)</span></p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-24',
			'keywords' => 'YouTube launches paid subscription service ,Techtalk, Mobile, youtube, Videos',
			'description' => 'YouTube is launching a pilot program in which users can pay to subscribe to channels like Ultimate Fighting Championship and Sesame Street.',
			'sortorder' => '992',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '1121',
			'article_category_id' => '56',
			'title' => 'HP’s New Year Bonanza',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	HP has launched a new offer named ‘HP New Year Bonanza’. With this offer, customers buying any HP product worth Rs 5000 will get a scratch coupon that provides a chance to win free gifts. The scheme is available through all authorized HP distributors and partners throughout the country.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-13',
			'keywords' => 'HP’s New Year Bonanza ,Biz Launches, Electronics',
			'description' => 'HP has launched a new offer named ‘HP New Year Bonanza’. With this offer, customers buying any HP product worth Rs 5000 will get a scratch coupon that provides a chance to win free gifts.',
			'sortorder' => '990',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '1119',
			'article_category_id' => '56',
			'title' => 'CG’s Double Door Refrigerators',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	CG has introduced a new Double Door refrigerator model CG – D200PF in the market. According to the company, the refrigerator with 190 litres capacity is equipped with Frost Free Technology that helps in faster cooling. The refrigerator has features like toughened glass shelves, twist ice tray and has a powerful compressor which helps in faster cooling. The floral printed refrigerators are available in Red Wine and Silver colour options and are priced Rs 26,790 and Rs 27,190 respectively.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'CG’s Double Door Refrigerators  ,Biz Launches, Electronics,',
			'description' => 'CG has introduced a new Double Door refrigerator model CG – D200PF in the market.',
			'sortorder' => '988',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '1115',
			'article_category_id' => '56',
			'title' => 'Absolut Introduces Absolut Elyx',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Absolut has launched a new vodka Absolut Elyx in Nepal. According to the company, the vodka honours the roots of Swedish spirit-making tradition as it is manually distilled in a copper column still from 1929, and is made from a single harvest of Swedish winter wheat. The vodka has a natural pure taste, and is best enjoyed neat or on the rocks, and is also perfect for martinis and classic cocktails, says a press release.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'Absolut Introduces Absolut Elyx , Biz launches',
			'description' => 'Absolut has launched a new vodka Absolut Elyx in Nepal.',
			'sortorder' => '984',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '1113',
			'article_category_id' => '56',
			'title' => 'Tuborg Celebrated Its 133rd Birthday',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Tuborg celebrated its 133rd Birthday with its consumers all over Nepal by organizing various programs, and a special musical event at Reggae Bar, Thamel. Celebrated musicians like Adrian Pradhan and Sabin Rai along with Electrix Band performed at the musical program. The event also had the participation of officials from Gorkha Brewery. Tuborg has been associating with music and promoting many musical events across the country through a musical platform ‘Tuborg Stage’.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Tuborg Celebrated its 133rd Birthday, Biz launches',
			'description' => 'Tuborg celebrated its 133rd Birthday with its consumers all over Nepal by organizing various programs, and a special musical event at Reggae Bar, Thamel.',
			'sortorder' => '982',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '1111',
			'article_category_id' => '34',
			'title' => '‘Private Sector Support A Must For Full Budget For FY 2013/14’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Finance Minister Shankar Prasad Koirala has said that the private sector would have to extend full cooperation to the government to bring a full-fledged budget for fiscal year 2013/14. He, however, said that the government was making preparations for such a budget. Minister Koirala said so while addressing a programme organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Pokhara Chamber of Commerce and Industry.&nbsp;</p>
<p>
	“Learning its lessons from the previous years, the government has concluded that a full-fledged budget for the next fiscal year is a must. The government expects full cooperation from the private sector for such a budget,” said Minister Koirala. &nbsp;</p>
<p>
	“For economic development, we must be able to increase the investment, particularly in the development of infrastructure,” remarked Koirala. He added that as the business community is the one suffering greatly from the current energy crisis, the government would try to reduce load-shedding as well. Koirala, who also holds the industry and supplies portfolio, also stressed on the need for industrial development in the country.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Private Sector Support a Must for Full Budget for FY 2013/14, Economy, Biz News',
			'description' => 'Finance Minister Shankar Prasad Koirala has said that the private sector would have to extend full cooperation to the government to bring a full-fledged budget for fiscal year 2013/14.',
			'sortorder' => '980',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '1109',
			'article_category_id' => '34',
			'title' => '“India’s Leadership Necessary For Regional Economic Integration”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	If former Foreign Minister Dr Prakash Chandra Lohani is to be believed, there is unwillingness among the South Asian Countries to form a strategic vision of economic cooperation. Speaking in a one-day conference on Indo-Nepal trade and investment at Observer Research Foundation (ORF) on 22 April, 2013, Dr Lohani said that the economic cooperation should allow the gravitational force of the large and dynamic Indian economy to act as a lever to pull all other member states in the path of collective prosperity.&nbsp;</p>
<p>
	He further said that India should take the lead in the economic integration of the region and carry the smaller states along with it towards the path of economic prosperity. Viewed from a gravity model perspective developed by economists and geographers, India is the most important country in the region, Dr Lohani said. He further explained that the size of the country, the dynamism of its economy and the distance factor involved imply that smaller South Asian countries will find the gravitational pull of the Indian economy a vital element in their quest for prosperity.</p>
<p>
	The conference was organised as part of the joint study ORF has undertaken along with the South Asian Institute of Management (SAIM), Nepal, on Indo-Nepal trade and investment.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'India’s leadership necessary for regional economic integration, Economy, Biz News',
			'description' => 'If former Foreign Minister Dr Prakash Chandra Lohani is to be believed, there is unwillingness among the South Asian Countries to form a strategic vision of economic cooperation.',
			'sortorder' => '978',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '1107',
			'article_category_id' => '34',
			'title' => 'Cable Car In Capital In Four Years!',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	B&amp;S Urban Cable has come up with a cable car solution to the Kathmandu Valley’s traffic congestion. According to the company promoted by FNCCI Vice President, Bhawani Rana in partnership with Shyam Mohan Shrestha, a detailed study is under way for the project.&nbsp;</p>
<p>
	“The project is expected to complete at a cost of Rs 15-20 billion in four years.” Rana told the Corporate. The company has already conducted a preliminary study for operating cable cars from Narayan Gopal Chowk to Lagankhel and from Kuleshwor to Baudha, with stations at different places for passenger embarkation and disembarkation. The project envisages deployment of sufficient number of cable cars to carry 200,000 persons per day. Each car will have a capacity to carry 25 to 30 persons at a time. The fares for the cable car will be similar to other public transport vehicles, according to Rana. According to her the Nepali government people are positive towards the projects. Moreover, 3-4 French companies have shown interest to partner with B&amp;S Urban Cable in this project. Similarly, the firm is also talking with some Australian, American as well as Swiss companies.</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Cable Car in Capital in Four Years!, Travel, Tourism, Technology, Biz news, Infrastructure',
			'description' => 'B&S Urban Cable has come up with a cable car solution to the Kathmandu Valley’s traffic congestion. According to the company promoted by FNCCI Vice President, Bhawani Rana in partnership with Shyam Mohan Shrestha, a detailed study is under way for the project.',
			'sortorder' => '976',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	)
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
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			'title' => 'South Asia To Take Worst Hit Of Climate Change',
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	South Asia, with India right in the centre, South-East Asia and Sub-Saharan Africa are likely to face the worst heat from climate change, a study released by the World Bank predicts. Last year the bank had released a report that estimated that by the end of this century the world would be warmer by 4 degree Celsius, which would severely impact agricultural production, water resources, coastal ecosystems as well as the cities. This is in comparison to the pre-industrialisation days. <br />
	<br />
	The new report predicts that globally a 2 degree Celsius rise in temperature is likely to lead to a 20 per cent dip in water availability. Further, a 4 degree rise will create severe water stress with availability declining by 50 per cent. In a grim finding, the report suggests that sea levels may rise by 50 cm as early as 2050 and by 100 cm by 2100. This could result in several heavily populated portions of land going under water. Indians may well have to get used to extreme summers, increased drought as well as increased flooding as precipitation patterns change dramatically. <br />
	<br />
	<strong>(The Hindu Business Line)<br />
	<br />
	Nepal Becoming More Vulnerable</strong><br />
	<br />
	Nepal is also witnessing a significant impact of the climate change along with other South Asian neighbours. Although Nepal’s contribution to Climate Change is negligible compared to the developed and major developing countries, it is becoming more vulnerable to the economic and ecological impacts of climate change .The mountain region is experiencing an increasing frequency and intensity of extreme climate events such as Glacial Lake Outburst Floods (GLOF), flash floods, monsoon floods and cloudbursts, which in turn bring down huge amounts of sediment thereby causing widespread damage to property and life in lower areas. <br />
	<br />
	Similarly, the Terai region is also experiencing harsh winter fog. The traditional resilience of the region and its people is rapidly being eroded by a growing reliance on and over-exploitation of natural resources which is threatening sustainability. Nepal’s vulnerability to climate change is clearly tied to its water resource management. Water resources are linked to livelihoods and development through hydropower, irrigation, health, and disasters. Changes in hydrological cycle and the gradual depletion of water resources are some of the top environmental challenges that Nepal is facing in the context of global warming. Sharply shrinking of forest areas is also a major concern. <br />
	<br />
	Experts warn about the effect of climate change on Nepali economy.’ All these factors are seriously threatening Nepal’s agricultural output which highly depends upon rainfall rather than irrigation,’ says Manjit Dhakal, Program Director of Clean Energy Nepal, the secretariat of Climate Change Network Nepal. ‘Now-a-days dry season is getting more dry while wet season is becoming more wet, the seasons have become unpredictable too,’ he said pointing to the environmental anomaly. According to Dhakal, hydropower and tourism are among other sectors to be affected as Nepal’s energy production and inflow of foreigners are directly related to the change in climate. <br />
	<br />
	‘Climate change has become a major international issue, talking about global scenario we can see that it has evolved as a political, economic and diplomatic issue , the government should realize this as we are among the most suffering from global warming,’ Dhakal mentioned. He suggested the government to step forward for the proper and effective implementation of policies related to climate change. ‘Priority should be given for implementation rather than adoption of policies, we’ve experienced that by just printing policies in a paper won’t be of any help,’ he added.<br />
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	<strong>Fed Hints of Ending Asset Purchases</strong><br />
	<br />
	The US Federal Reserve has maintained the rate of its asset purchase programme at $85bn a month, but could start scaling it back soon.It also kept interest rates at a record low range of between zero and 0.25%. Fed chairman Ben Bernanke said on Wednesday that if the central bank’s forecasts were correct, it could begin slowing asset purchases by the end of 2013 and wind them down completely by the middle of 2014. (Agency)<br />
	<br />
	<img alt="cocacola" border="1" height="107" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/cococola.jpg" vspace="10" width="150" /><br />
	<br />
	<strong>Facebook Reaches 1 mn Advertisers Globally</strong><br />
	<br />
	Facebook Inc said on Tuesday that it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth. A vast majority of those advertisers are small business owners who have flocked to the world’s No 1 social network. (Agency)<br />
	<br />
	<br />
	<img alt="" src="http://www.newbusinessage.com/images/thecorporate/gold.jpg" /><br />
	<br />
	<strong>Gold Recovers After Market Rout</strong><br />
	<br />
	Gold rose 1.3 percenton Friday, rebounding from nearly a three-year low earlier, but for the week it still dropped the most in nearly two years after the U.S. Federal Reserve’s most explicit indication to end its stimulus sparked a global market rout. Spot gold closed up 1.3 percent at $1,291.60 an ounce after having earlier hit its lowest since September 2010 at $1,268.89 an ounce. (Agency)<br />
	<br />
	<br />
	<strong>UK banks Told to Plug £27bn Hole</strong><br />
	<br />
	UK lenders need to raise billions more in capital to cover their risks, according to their financial regulator. The Prudential Regulation Authority (PRA) says Britain’s top banks and building societies need to fill a £27.1 billion hole in their balance sheets. Royal Bank of Scotland was the regulator’s main cause of concern, accounting for £13.6 bn of the total. Lloyds Banking Group accounted for £8.6bn and Barclays £3bn. Nationwide had a shortfall of £400m. (BBC)<br />
	<br />
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	<br />
	<strong>China’s Manufacturing Slows Further</strong><br />
	<br />
	China’s manufacturing activity weakened further in June, falling to a nine-month low as demand fell, according to a preliminary survey by HSBC. The bank’s Purchasing Managers’ Index (PMI) declined to 48.3, from May’s reading of 49.2. A reading below 50 indicates a contraction. The weak data comes amid fresh concerns over the health of Chinese economy, the world’s second-largest. (Agency)<br />
	<br />
	<br />
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	<strong>‘Need fusing science and technology with business’<br />
	</strong><br />
	Swagat Shrestha is the Chairperson of Higher Secondary School’s Association of Nepal’s Kathmandu Chapter (HISSAN KTM). Sweta Sharma of The Corporate Weekly talked with Shrestha about overall education system of Nepal, its reforms, problems and challenges. Excerpts: <br />
	<br />
	<br />
	<strong>How do you evaluate the present education system of Nepal? <br />
	</strong><br />
	Education system of Nepal has improved in a satisfactory way. There have been improvements in courses and vocational and business education are introduced in government schools and colleges. <br />
	<br />
	<br />
	<strong>Comparing with the last year, SLC pass percentage is quite low this year. What do you think might be the reason behind it? <br />
	</strong><br />
	The government has allocated 17 per cent of budget for education. Looking at this, the SLC pass percentage is quite discouraging. This is an issue to be considered seriously. In cities like Kathmandu, we do have 80-90 pass percentages. But the government schools mainly those of out of valley have only 10- 12 pass percentage. Earlier, many schools openly helped students cheat in SLC exams. This year, the examination was very strict, and the papers were also evaluated strictly which might have caused this decline. <br />
	<br />
	<br />
	<strong>One of Nepal’s Millennium Development Goals is to have 100 per cent enrollment in primary school. To what extent do you think it would be possible? <br />
	</strong><br />
	These days, people are quite aware of the importance of education and literacy. Especially in villages, more and more people are being aware about education and we must thank political parties for this as they keep visiting villages for various awareness programmes. This has led to expect some good changes in education sector and I do think there is the possibility of educating a huge portion of the population. <br />
	<br />
	<br />
	<strong>What major reforms do you think are necessary for Nepal’s education system? <br />
	</strong><br />
	The education system of Nepal is city-oriented as must of educational institutions are located in the major cities. Private sector is basically surviving on its own and they have the inclination towards staying where they see good business possibility. It is government’s responsibility to provide education free of cost but instead there is impractical policy that requires educational institutions to pay VAT like tax to the government. <br />
	<br />
	But above all, the major problem of Nepal is political instability and it has affected almost every sector. Every sector is politicized and education sector is also affected largely. Also, we are copying the foreign curriculum and that cannot always be relevant for us. The education system should rather be based on our country’s need and demand. People need to set an example by contributing in Nepal so that the future generations too could be encouraged to stay in Nepal. And if the government educational institutions could provide better education, then the private ones can gradually phase out. <br />
	<br />
	<br />
	<strong>Government has failed in creating satisfactory long term education policies. What are your comments on this? <br />
	</strong><br />
	This is all due to unstable government. The frequent change in government is affecting policies to sustain in the long term. Reforms, policies, rules and regulations get changed with the change of government. Even though the policies are good, it definitely will be changed with new government, and it is so frequent. Still we can hope for positive changes in educational sector as there are possibilities. <br />
	<br />
	<br />
	<strong>What is your suggestion to keep education sector free from political intervention? <br />
	</strong><br />
	The unhealthy competition among major political parties has brought this problem of intervention in every sector request all the major political parties to leave at least the schools free from politics. The political parties should point out the weakness of private educational institutions and we are ready to do our best to overcome those weaknesses. This will help to run the education sector more peacefully. <br />
	<br />
	<br />
	<strong>Students seem to be more attracted towards A-level courses in the recent days. Why is +2 education gradually losing the attraction? <br />
	</strong><br />
	I disagree to this because more number of students are still attracted to +2 colleges. A-level course is of international standard and is also quite expensive. I think A-level degree is not suitable for Nepal. The majority of the students are in +2 colleges rathen than in A-level colleges. Yes, I do agree that the courses are quite advanced in A-level, but it also has its own problems. <br />
	<br />
	<br />
	<strong>It is quite confusing to choose good educational institutions. What do you suggest to the students and guardians? <br />
	</strong><br />
	Distance matters a lot, so it is better to choose those institutions which are quite near to your residence as it would consume less time. There should be enough information about the people who are running the institutions. Educationists can run the institutions well and they will be more inclined towards providing better education. Results of past few years should also be taken into consideration. In addition, the institutions should possess basic infrastructure and facilities where students could find an environment to boost their abilities. If these parameters are considered, it will be relatively easier to select a good school or college. <br />
	<br />
	<br />
	<strong>What unique characteristics do you think your institution Kathmandu Valley College (KVC) possesses when compared to the other colleges? <br />
	</strong><br />
	We have daily evaluation system where every student is supposed to appear in test at the end of the day. In this regard, I can say that our evaluation system is unique. We organize seminars and presentations every Friday to boost the students’ communication and presentation skills. We are also focused on promoting our culture. We also provide ‘Joyful Parenting Training’ where parents and students can interact with each other properly to understand each other’s point of view. We also provide job placement trainings to the students. Broadly speaking, we provide our students with reality based education. <br />
	<br />
	<br />
	<strong>What new programs are you going to introduce in near future which you think will be beneficial to boost the education system of Nepal? </strong><br />
	<br />
	We are going to provide professional computer training to students and we will also certify it. In coming year, we are adding BBA and MBA level according to the demand of students and the market. But our college is more focused on science and technology which is very important for Nepal’s development. We need fusing science and technology with business. This will help to increase the value of products and it ultimately will help to boost Nepal’s economy as well. It also will make our education system more advanced.<br />
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	<strong><span style="font-size:9.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
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	<strong><span style="font-size:14px;"><span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">Delay in passage of the government’s budget during the past few years has had a telling effect on the economy. As the government prepares its budget for the upcoming fiscal year, The Corporate talked to to representatives of the private sector and the government about it. Excerpts: </span></span></span></strong></p>
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	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Dr Jagdish Chandra Pokharel<br />
	Former Chairman<br />
	National Planning Commission </span></strong></span></p>
<p>
	<span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">The government should introduce a budget that helps in increasing the capital expenditure. The capital expenditure should be stimulated in a proper manner. Another important thing is that the new budget should not be distributive like the previous ones. The growth rate should be fixed in a pragmatic way. Earlier governments had fixed the rate just to garner the popularity of general public. Similarly, government should ensure the social security schemes if possible. Inflation is pretty high these days. So the government should bring the budget that can control the inflation. </span> </span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;<img alt="bhaskar" border="1" height="113" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/bhaskar.jpg" vspace="10" width="100" /></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Bhaskar Raj Rajkarnikar<br />
	Senior Vice-president<br />
	Federation of Nepalese <br />
	Chambers of Commerce and Industry (FNCCI) </span></strong></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">The very first thing is that we need a full-fledged budget and that needs to be passed on time. Delays in the passage of the budget in the past few years have affected many areas of the economy. The upcoming budget should be a private sector-driven one. A large portion of the budget pie should be allocated for development activities. Similarly, the budget should give due consideration to issues related to unemployment, safe employment and labour problems. </span></span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;<img alt="Meghnath Nath Neupane" border="1" height="116" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/meghnath.jpg" vspace="10" width="100" /></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Megh Nath Neupane<br />
	Director General<br />
	Confederation of Nepalese Industries </span></strong></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span style="line-height: 115%; color: rgb(34, 30, 31);">The most important thing for now is that the government is bringing out a full- fledged budget. Government should identify the areas where the budget can be spent with expected outcomes. Till now, budget has mostly been of politics-oriented type. The new budget should be completely development-oriented which could help conduct the developmental activities smoothly. The trade deficit of the country is quite high for now and considering this issue, government should bring the budget that should be export -oriented. If government could not bring such budget, then at least the budget should include some import substitution measures. This will help to balance the economy.</span></span></p>
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			'title' => 'Sharda Group: Known For Diversified Products',
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	<strong>Shiva Ratan Sharda<br />
	Chairman, Sharda Group<br />
	(Industrial &amp; Trading House)<br />
	<br />
	<br />
	<br />
	<br />
	By Sushila Budhathoki<br />
	</strong><br />
	Sharda Group (SG) is a group of companies that emerged as a business conglomerate over a span of less than 30 years with an annual turnover in excess of US $150 million. “By doing businesses that are in demand, we succeeded to establish ourselves in the market in a short period of time. The group is continuously producing diverse products to address the different needs of the customers since its inception,” shares Rajesh Koirala, General Manager at the group. <br />
	<br />
	Every company where the group invested huge money proved to be the right business as it contributed to the growth of the group. SG has been involved in a wide spectrum of industrial operations, manufacturing and trading products, ranging from industrial goods to consumer durables and non-durables. From carpets, flour, rice, footwear to oxygen, the group has been introducing various products according to the market demand. SG owns many big industries in Nepal including Asian Thai Foods- a popular name for noodle manufacturing, Pashupati Khadya Tel Udhyog- the first private sector manufacturer of refined oil in Nepal, Shivam Cements among various others. These manufacturing industries are located at Morang, Sunsari, Kathmandu and Hetauda. <br />
	<br />
	Starting from Hetauda Iron Industry, an iron manufacturing company in BS 2040, the group now has more than 20 companies with all sound business. “The establishment of iron industry was a major breakthrough in expanding of our business. The group have turned that iron industry into a company named Premier Wires that produces GI wires now,” says Koirala. Before forming the group, the group members had various other investments in gold trade, rice mills, oil industry and different small industries that eventually led them operate companies with diversification of products. <br />
	<br />
	The changing global socio-economical scenario had also set the course of businesses for the group, according to a message posted by the Chairman Shiva Ratan Sharda in their website. According to him, good quality products and services, high production capacity, prompt delivery and warm interaction with the consumers have further enhanced the reputation that the group carries. And this combined with an excellent marketing network has enabled them to cover a wide market. The Group’s Chairman is also the immediate past Chairman of the Kumari Bank. <br />
	<br />
	<br />
	<strong>Multi-product Companies </strong><br />
	<br />
	The group has established a number of industries that require high to low investments. The group has invested some Rs 1.5 billion in instant Noodles industry and in cement; the investment is around four billion. The group has also established a company, Premier Wires that produces GI wires with the capacity of 21,000 MT yearly. In plastic, it owns three various companies - Atlas Pet Plastic Industries, Premier Polymers and Pashupati Synpack for producing a wide variety of plastic products. It also produces oxygen from its two companies namely Binayak Oxygen Industries and Kantipur Oxygen Pvt Ltd.<br />
	<br />
	The group of industries has also established Asian Thai Foods with an automatic plant with a capacity of producing eight hundred thousand packets of 75gms noodles per day. For homecare products, there is a company called Cosmic Homecare that mainly manufactures a variety of mosquito repellent coils in various shapes. Other companies like Pashupati Rice and Oil Mills and Nutri Foods produce flour and rice while rubber and footwear products are produced in two companies - Lion Rubber Industries and AC Footwear. Nutri Foods Pvt. Ltd produces energy foods as well. <br />
	<br />
	The group is also involved in trading of wide variety of products including metals like copper and brass, electrical goods, machinery, FMCGs, chemicals among many others. Moreover, it has also invested in BFIS (Banking and Financial Sectors) starting with the Sunrise Bank Limited and Nepal Merchant Banking and Finance Ltd. It is also targeting hydro power projects as its new sector for investment with the Riddi Hydropower Development in hands. <br />
	<br />
	<strong><br />
	Grabbing Consumer Market </strong><br />
	<br />
	Like the products, the clients are also varied which include government projects, NGOs, private sectors and general people. According to Koirala, the Group’s specialization is in house wires, GI wires obtaining 10%, 20-25% and 15% market share respectively.&nbsp; The group regards its companies among the top five companies in Nepal. “We never compromised in quality. No one can point us about the quality of the products,” he shares. The noodles products including RumPum acquire second position in the market. It also exports some of the products to India and Bhutan. <br />
	<br />
	The market sometimes turns bad for the investors. Bishnu Shrestha, Sales and Marketing Manager at SG says, “We had a very good sale of ghee in the past. We used to export these products in other countries as well. But the business has gone down now,” Basically a manufacturing conglomerate, SG is also facing power shortage problem like many other industries in Nepal. And the competition is also harsh though they say it is healthy. Koirala says, “There are competitions in various forms mainly in terms of quality and price. And we are surviving despite the huge competition in the market. This is very important for us.” <br />
	<strong><br />
	<br />
	Management Strategies </strong><br />
	<br />
	The group employs more than 1,500 including the labour force in its various companies. Many of the workers in the organization are working for many years and some of them have served their 20- 30 years in the company. Koirala who is also serving the company for the last 20 years says, “We have a very systematic channel to maintain the workforce in our companies. There is a factory in-charge in every manufacturing section who reports to directors and the directors report to the concerned executives.” <br />
	The Chairman often meets employees in person that has, according to Koirala, contributed in creating the family environment in the company as well as building the trust among the employees. <br />
	<br />
	<strong><br />
	Future Strategies </strong><br />
	<br />
	With more quality products, the group is planning to operate more efficiently in the future. The group is planning to come with new industries and product in near future. Asian, a new biscuit from SG is preparing to appear in the market and the trial production for the same has been already conducted. A liquor industry is also in its pipeline. It is also eying to exploit the potentials and opportunities offered by IT and Telecom Industry in Nepal.<br />
	<br />
	<span style="font-size:14px;"><br />
	</span></p>
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	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">AC Footwear Pvt Ltd, Harisiddhi, Lalitpur <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Fancy shoes, sport shoes, canvas belly, EVA slippers and soles </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Nutri Foods Pvt Ltd <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Energy and baby food products </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Binayak Oxygen Industries Pvt Ltd, Sonapur, Sunsari <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Medical and industrial oxygen gas cylinders, nitrogen gas cylinders </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span><strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Kantipur Oxygen Pvt Ltd, Harisiddhi, Lalitpur <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Oxygen cylinders for industrial and medical purpose </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Pioneer Marketing <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Import-export of copper, brass scrap, zinc ingot, zinc dross, MS plates, rice, silk, betel nuts, food products, chemicals, milk powder, sunflower oil, chocolates, dates </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span><strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Samiksha Enterprises <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Import and marketing of electrical goods, machinery, consumer goods and chemicals </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">CSR Activities <br style="mso-special-character:line-break" />
	</span></span></strong><br />
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Sharda Group believes in giving back to the society in the form of Corporate Social Responsibility (CSR) activities. The group says that the group’s contribution in development of commerce and industry has been widely recognised by the state as well as the general public. Some of the recent CSR activities include:&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">• Establishment of Dulichand Sharda Athithi Sadan in Lahan </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Establishment of Ram Kumar Sharda Uma Shankar Murarka General Hospital with 25 beds and handed over to the government </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Contributed to hostel building construction of Pashupati High English School </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Contributed to high schools and temples in Lahan and Biratnagar </span></span><span style="font-size:14px;"><span color:="" myriad="" style="line-height: 115%; font-family: "><br />
	• Donations to scholarship funds for awarding deserving students<br />
	<br />
	<br />
	<strong>Success Mantras</strong><br />
	<br />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span color:="" myriad="" style="line-height: 115%; font-family: ">- Honesty to the consumers<br />
	- Quality products<br />
	- Hard working employees<br />
	- Diversified products<br />
	- Passion for performance<br style="mso-special-character:line-break" />
	<br />
	<br style="mso-special-character:line-break" />
	</span></span></p>',
			'published' => true,
			'created' => '2013-06-24',
			'modified' => '2013-07-15',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Sharda Group (SG) is a group of companies that emerged as a business conglomerate over a span of less than 30 years with an annual turnover in excess of US $150 million. “By doing businesses that are in demand, we succeeded to establish ourselves in the market in a short period of time. The group is continuously producing diverse products to address the different needs of the customers since its inception,” shares Rajesh Koirala, General Manager at the group.',
			'sortorder' => '1000',
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	),
	(int) 6 => array(
		'Article' => array(
			'id' => '1136',
			'article_category_id' => '91',
			'title' => 'NPR Hardest Hit In South Asia By Dollar Strengthening',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>&nbsp;By Sanjeev/Rashesh/Yagya</strong><br />
	<br />
	While almost every currency in the world is losing its price against the US Dollar, last week the Nepali Rupee was hit the hardest among all South Asian counterparts. The exchange rate between Nepali Rupee and US Dollar hit record high on Wednesday (June 12). The reference exchange rate set for that day by Nepal Rastra Bank was Rs 93.19 (for buying) and Rs 95.99 (for selling) per dollar. This is the highest after eight months. However, the banks can fix their own rate based on central bank’s reference rate. <br />
	The strengthening of USD has caused mixed reactions in South Asian Forex markets (see table and charts). Sri Lanka’s rupee fell on Thursday as foreign investors booked forwards to hedge their exposure, amid a trend of foreign outflows in other Asian peers in the wake of rise in U.S. Treasury yields. Maldivian Rufiyaa is seen relatively stable than other SAARC nation currencies as the country’s earnings from the tourism sector looked robust. Bhutanese Ngultrum which is pegged with Indian Rupee followed the path of Indian currency though the country’s economy seemed fairly strong in near and medium terms. <br />
	<br />
	Meanwhile, Bangladeshi Taka maintained stable rate against the USD as earnings from the country’s garment exports increased further. Afghanistan’s currency Afghani is also seen as best performer as the country’s forex reserve increased due to the amount of financial aid from United States and it’s allies sharply rose. Pakistani currency didn’t witness substantial pressure in recent volatility as the new government unveiled a ‘business friendly’ budget and pledge to revive the ailing economy. The Chinese Yuan also performed better than some South Asian currencies though the government signaled to slow the pace of currency appreciation. <br />
	<br />
	The weakness of the Indian currency is the main cause of the sharp devaluation of Nepali Rupee. On Thursday (June 20), the Indian Rupee hits a new all-time low against the USD trading at 60 per dollar. Nepali currency which maintains exchange rate peg with the Indian Rupee was hammered by the sharp decline. The Indian currency is under huge pressure as the country’s Current Account Deficit (CAD) continues to widen in a fast pace. Amid Weakening exports, spike in gold and petroleum imports are seen as the major factors for increasing India’s trade deficit which is ultimately widening the country’s CAD. The capital flight from India in recent months is also seen as another factor for weakening rupee as foreign investors are buying more greenbacks. <br />
	<br />
	<br />
	<br />
	<strong>Fed’s policy reversal <br />
	</strong><br />
	The trend is blamed on the indication from US Federal Reserve that it would now reverse the policy of Quantitative easing (QE), thus signaling advent of tighter money supply policy. The improvement in US manufacturing, retail business and housing sector along with decreasing unemployment rate have prompted the Fed to make such policy reversal. Fed Chairman Ben Bernanke said on Wednesday the central bank will continue to reduce the pace of bond purchases in measured steps through the first half of next year, ending purchases around mid-year if the US economy continued to show strength. The Fed has been pumping massive amount of liquidity through the QE programme since 2008 to stimulate the US economy in the wake of global financial crisis. After Bernanke’s comment the long-term interest rates in US soared as investors flocked to more attractive government bonds. This resulted in sky rocketing the US Treasury yields to 10 year high causing a broad rally in USD. <br />
	<br />
	In context to Nepali economy, the strengthening of the US dollar is seen as one of the factors of negative impact. For a country with the increasing trend of trade deficit, stronger dollar brings negative impact on the balance of payment of Nepal. Recent volatility indicates that weakening of Indian currency will continue in near-term. As a result, Nepali Rupee may further depreciate and weaken the economy which is already facing various macroeconomic risks. Analysts say that the possibility of capital flight from Nepal is very high by the continuous devaluation of Nepali Rupee. According to them, the combination of negative real interest rate and return on savings along with weak investment environment has created situation of large capital flight from the country.<br />
	<br />
	 </p>',
			'published' => true,
			'created' => '2013-06-24',
			'modified' => '2013-07-25',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'While almost every currency in the world is losing its price against the US Dollar, last week the Nepali Rupee was hit the hardest among all South Asian counterparts. The exchange rate between Nepali Rupee and US Dollar hit record high on Wednesday (June 12). The reference exchange rate set for that day by Nepal Rastra Bank was Rs 93.19 (for buying) and Rs 95.99 (for selling) per dollar.',
			'sortorder' => '999',
			'image' => '1372065557.jpg',
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			'homepage' => false,
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			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '1123',
			'article_category_id' => '72',
			'title' => 'YouTube Launches Paid Subscription Service',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	YouTube is launching a pilot program in which users can pay to subscribe to channels like Ultimate Fighting Championship and Sesame Street. Subscription fees start at 99 cents per month, and viewers can test out a channel for free as part of a 14-day trial. Once they sign up, subscribers can watch the paid channels on phones, tablets, PCs and connected televisions. <span style="font-size:10px;">(money.cnn.com)</span></p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-24',
			'keywords' => 'YouTube launches paid subscription service ,Techtalk, Mobile, youtube, Videos',
			'description' => 'YouTube is launching a pilot program in which users can pay to subscribe to channels like Ultimate Fighting Championship and Sesame Street.',
			'sortorder' => '992',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '1121',
			'article_category_id' => '56',
			'title' => 'HP’s New Year Bonanza',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	HP has launched a new offer named ‘HP New Year Bonanza’. With this offer, customers buying any HP product worth Rs 5000 will get a scratch coupon that provides a chance to win free gifts. The scheme is available through all authorized HP distributors and partners throughout the country.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-13',
			'keywords' => 'HP’s New Year Bonanza ,Biz Launches, Electronics',
			'description' => 'HP has launched a new offer named ‘HP New Year Bonanza’. With this offer, customers buying any HP product worth Rs 5000 will get a scratch coupon that provides a chance to win free gifts.',
			'sortorder' => '990',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '1119',
			'article_category_id' => '56',
			'title' => 'CG’s Double Door Refrigerators',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	CG has introduced a new Double Door refrigerator model CG – D200PF in the market. According to the company, the refrigerator with 190 litres capacity is equipped with Frost Free Technology that helps in faster cooling. The refrigerator has features like toughened glass shelves, twist ice tray and has a powerful compressor which helps in faster cooling. The floral printed refrigerators are available in Red Wine and Silver colour options and are priced Rs 26,790 and Rs 27,190 respectively.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'CG’s Double Door Refrigerators  ,Biz Launches, Electronics,',
			'description' => 'CG has introduced a new Double Door refrigerator model CG – D200PF in the market.',
			'sortorder' => '988',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '1115',
			'article_category_id' => '56',
			'title' => 'Absolut Introduces Absolut Elyx',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Absolut has launched a new vodka Absolut Elyx in Nepal. According to the company, the vodka honours the roots of Swedish spirit-making tradition as it is manually distilled in a copper column still from 1929, and is made from a single harvest of Swedish winter wheat. The vodka has a natural pure taste, and is best enjoyed neat or on the rocks, and is also perfect for martinis and classic cocktails, says a press release.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'Absolut Introduces Absolut Elyx , Biz launches',
			'description' => 'Absolut has launched a new vodka Absolut Elyx in Nepal.',
			'sortorder' => '984',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '1113',
			'article_category_id' => '56',
			'title' => 'Tuborg Celebrated Its 133rd Birthday',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Tuborg celebrated its 133rd Birthday with its consumers all over Nepal by organizing various programs, and a special musical event at Reggae Bar, Thamel. Celebrated musicians like Adrian Pradhan and Sabin Rai along with Electrix Band performed at the musical program. The event also had the participation of officials from Gorkha Brewery. Tuborg has been associating with music and promoting many musical events across the country through a musical platform ‘Tuborg Stage’.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Tuborg Celebrated its 133rd Birthday, Biz launches',
			'description' => 'Tuborg celebrated its 133rd Birthday with its consumers all over Nepal by organizing various programs, and a special musical event at Reggae Bar, Thamel.',
			'sortorder' => '982',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '1111',
			'article_category_id' => '34',
			'title' => '‘Private Sector Support A Must For Full Budget For FY 2013/14’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Finance Minister Shankar Prasad Koirala has said that the private sector would have to extend full cooperation to the government to bring a full-fledged budget for fiscal year 2013/14. He, however, said that the government was making preparations for such a budget. Minister Koirala said so while addressing a programme organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Pokhara Chamber of Commerce and Industry.&nbsp;</p>
<p>
	“Learning its lessons from the previous years, the government has concluded that a full-fledged budget for the next fiscal year is a must. The government expects full cooperation from the private sector for such a budget,” said Minister Koirala. &nbsp;</p>
<p>
	“For economic development, we must be able to increase the investment, particularly in the development of infrastructure,” remarked Koirala. He added that as the business community is the one suffering greatly from the current energy crisis, the government would try to reduce load-shedding as well. Koirala, who also holds the industry and supplies portfolio, also stressed on the need for industrial development in the country.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Private Sector Support a Must for Full Budget for FY 2013/14, Economy, Biz News',
			'description' => 'Finance Minister Shankar Prasad Koirala has said that the private sector would have to extend full cooperation to the government to bring a full-fledged budget for fiscal year 2013/14.',
			'sortorder' => '980',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '1109',
			'article_category_id' => '34',
			'title' => '“India’s Leadership Necessary For Regional Economic Integration”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	If former Foreign Minister Dr Prakash Chandra Lohani is to be believed, there is unwillingness among the South Asian Countries to form a strategic vision of economic cooperation. Speaking in a one-day conference on Indo-Nepal trade and investment at Observer Research Foundation (ORF) on 22 April, 2013, Dr Lohani said that the economic cooperation should allow the gravitational force of the large and dynamic Indian economy to act as a lever to pull all other member states in the path of collective prosperity.&nbsp;</p>
<p>
	He further said that India should take the lead in the economic integration of the region and carry the smaller states along with it towards the path of economic prosperity. Viewed from a gravity model perspective developed by economists and geographers, India is the most important country in the region, Dr Lohani said. He further explained that the size of the country, the dynamism of its economy and the distance factor involved imply that smaller South Asian countries will find the gravitational pull of the Indian economy a vital element in their quest for prosperity.</p>
<p>
	The conference was organised as part of the joint study ORF has undertaken along with the South Asian Institute of Management (SAIM), Nepal, on Indo-Nepal trade and investment.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'India’s leadership necessary for regional economic integration, Economy, Biz News',
			'description' => 'If former Foreign Minister Dr Prakash Chandra Lohani is to be believed, there is unwillingness among the South Asian Countries to form a strategic vision of economic cooperation.',
			'sortorder' => '978',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '1107',
			'article_category_id' => '34',
			'title' => 'Cable Car In Capital In Four Years!',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	B&amp;S Urban Cable has come up with a cable car solution to the Kathmandu Valley’s traffic congestion. According to the company promoted by FNCCI Vice President, Bhawani Rana in partnership with Shyam Mohan Shrestha, a detailed study is under way for the project.&nbsp;</p>
<p>
	“The project is expected to complete at a cost of Rs 15-20 billion in four years.” Rana told the Corporate. The company has already conducted a preliminary study for operating cable cars from Narayan Gopal Chowk to Lagankhel and from Kuleshwor to Baudha, with stations at different places for passenger embarkation and disembarkation. The project envisages deployment of sufficient number of cable cars to carry 200,000 persons per day. Each car will have a capacity to carry 25 to 30 persons at a time. The fares for the cable car will be similar to other public transport vehicles, according to Rana. According to her the Nepali government people are positive towards the projects. Moreover, 3-4 French companies have shown interest to partner with B&amp;S Urban Cable in this project. Similarly, the firm is also talking with some Australian, American as well as Swiss companies.</p>',
			'published' => true,
			'created' => '2013-06-08',
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			'title' => 'South Asia To Take Worst Hit Of Climate Change',
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	South Asia, with India right in the centre, South-East Asia and Sub-Saharan Africa are likely to face the worst heat from climate change, a study released by the World Bank predicts. Last year the bank had released a report that estimated that by the end of this century the world would be warmer by 4 degree Celsius, which would severely impact agricultural production, water resources, coastal ecosystems as well as the cities. This is in comparison to the pre-industrialisation days. <br />
	<br />
	The new report predicts that globally a 2 degree Celsius rise in temperature is likely to lead to a 20 per cent dip in water availability. Further, a 4 degree rise will create severe water stress with availability declining by 50 per cent. In a grim finding, the report suggests that sea levels may rise by 50 cm as early as 2050 and by 100 cm by 2100. This could result in several heavily populated portions of land going under water. Indians may well have to get used to extreme summers, increased drought as well as increased flooding as precipitation patterns change dramatically. <br />
	<br />
	<strong>(The Hindu Business Line)<br />
	<br />
	Nepal Becoming More Vulnerable</strong><br />
	<br />
	Nepal is also witnessing a significant impact of the climate change along with other South Asian neighbours. Although Nepal’s contribution to Climate Change is negligible compared to the developed and major developing countries, it is becoming more vulnerable to the economic and ecological impacts of climate change .The mountain region is experiencing an increasing frequency and intensity of extreme climate events such as Glacial Lake Outburst Floods (GLOF), flash floods, monsoon floods and cloudbursts, which in turn bring down huge amounts of sediment thereby causing widespread damage to property and life in lower areas. <br />
	<br />
	Similarly, the Terai region is also experiencing harsh winter fog. The traditional resilience of the region and its people is rapidly being eroded by a growing reliance on and over-exploitation of natural resources which is threatening sustainability. Nepal’s vulnerability to climate change is clearly tied to its water resource management. Water resources are linked to livelihoods and development through hydropower, irrigation, health, and disasters. Changes in hydrological cycle and the gradual depletion of water resources are some of the top environmental challenges that Nepal is facing in the context of global warming. Sharply shrinking of forest areas is also a major concern. <br />
	<br />
	Experts warn about the effect of climate change on Nepali economy.’ All these factors are seriously threatening Nepal’s agricultural output which highly depends upon rainfall rather than irrigation,’ says Manjit Dhakal, Program Director of Clean Energy Nepal, the secretariat of Climate Change Network Nepal. ‘Now-a-days dry season is getting more dry while wet season is becoming more wet, the seasons have become unpredictable too,’ he said pointing to the environmental anomaly. According to Dhakal, hydropower and tourism are among other sectors to be affected as Nepal’s energy production and inflow of foreigners are directly related to the change in climate. <br />
	<br />
	‘Climate change has become a major international issue, talking about global scenario we can see that it has evolved as a political, economic and diplomatic issue , the government should realize this as we are among the most suffering from global warming,’ Dhakal mentioned. He suggested the government to step forward for the proper and effective implementation of policies related to climate change. ‘Priority should be given for implementation rather than adoption of policies, we’ve experienced that by just printing policies in a paper won’t be of any help,’ he added.<br />
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	<strong>Fed Hints of Ending Asset Purchases</strong><br />
	<br />
	The US Federal Reserve has maintained the rate of its asset purchase programme at $85bn a month, but could start scaling it back soon.It also kept interest rates at a record low range of between zero and 0.25%. Fed chairman Ben Bernanke said on Wednesday that if the central bank’s forecasts were correct, it could begin slowing asset purchases by the end of 2013 and wind them down completely by the middle of 2014. (Agency)<br />
	<br />
	<img alt="cocacola" border="1" height="107" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/cococola.jpg" vspace="10" width="150" /><br />
	<br />
	<strong>Facebook Reaches 1 mn Advertisers Globally</strong><br />
	<br />
	Facebook Inc said on Tuesday that it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth. A vast majority of those advertisers are small business owners who have flocked to the world’s No 1 social network. (Agency)<br />
	<br />
	<br />
	<img alt="" src="http://www.newbusinessage.com/images/thecorporate/gold.jpg" /><br />
	<br />
	<strong>Gold Recovers After Market Rout</strong><br />
	<br />
	Gold rose 1.3 percenton Friday, rebounding from nearly a three-year low earlier, but for the week it still dropped the most in nearly two years after the U.S. Federal Reserve’s most explicit indication to end its stimulus sparked a global market rout. Spot gold closed up 1.3 percent at $1,291.60 an ounce after having earlier hit its lowest since September 2010 at $1,268.89 an ounce. (Agency)<br />
	<br />
	<br />
	<strong>UK banks Told to Plug £27bn Hole</strong><br />
	<br />
	UK lenders need to raise billions more in capital to cover their risks, according to their financial regulator. The Prudential Regulation Authority (PRA) says Britain’s top banks and building societies need to fill a £27.1 billion hole in their balance sheets. Royal Bank of Scotland was the regulator’s main cause of concern, accounting for £13.6 bn of the total. Lloyds Banking Group accounted for £8.6bn and Barclays £3bn. Nationwide had a shortfall of £400m. (BBC)<br />
	<br />
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	<br />
	<strong>China’s Manufacturing Slows Further</strong><br />
	<br />
	China’s manufacturing activity weakened further in June, falling to a nine-month low as demand fell, according to a preliminary survey by HSBC. The bank’s Purchasing Managers’ Index (PMI) declined to 48.3, from May’s reading of 49.2. A reading below 50 indicates a contraction. The weak data comes amid fresh concerns over the health of Chinese economy, the world’s second-largest. (Agency)<br />
	<br />
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	<strong>‘Need fusing science and technology with business’<br />
	</strong><br />
	Swagat Shrestha is the Chairperson of Higher Secondary School’s Association of Nepal’s Kathmandu Chapter (HISSAN KTM). Sweta Sharma of The Corporate Weekly talked with Shrestha about overall education system of Nepal, its reforms, problems and challenges. Excerpts: <br />
	<br />
	<br />
	<strong>How do you evaluate the present education system of Nepal? <br />
	</strong><br />
	Education system of Nepal has improved in a satisfactory way. There have been improvements in courses and vocational and business education are introduced in government schools and colleges. <br />
	<br />
	<br />
	<strong>Comparing with the last year, SLC pass percentage is quite low this year. What do you think might be the reason behind it? <br />
	</strong><br />
	The government has allocated 17 per cent of budget for education. Looking at this, the SLC pass percentage is quite discouraging. This is an issue to be considered seriously. In cities like Kathmandu, we do have 80-90 pass percentages. But the government schools mainly those of out of valley have only 10- 12 pass percentage. Earlier, many schools openly helped students cheat in SLC exams. This year, the examination was very strict, and the papers were also evaluated strictly which might have caused this decline. <br />
	<br />
	<br />
	<strong>One of Nepal’s Millennium Development Goals is to have 100 per cent enrollment in primary school. To what extent do you think it would be possible? <br />
	</strong><br />
	These days, people are quite aware of the importance of education and literacy. Especially in villages, more and more people are being aware about education and we must thank political parties for this as they keep visiting villages for various awareness programmes. This has led to expect some good changes in education sector and I do think there is the possibility of educating a huge portion of the population. <br />
	<br />
	<br />
	<strong>What major reforms do you think are necessary for Nepal’s education system? <br />
	</strong><br />
	The education system of Nepal is city-oriented as must of educational institutions are located in the major cities. Private sector is basically surviving on its own and they have the inclination towards staying where they see good business possibility. It is government’s responsibility to provide education free of cost but instead there is impractical policy that requires educational institutions to pay VAT like tax to the government. <br />
	<br />
	But above all, the major problem of Nepal is political instability and it has affected almost every sector. Every sector is politicized and education sector is also affected largely. Also, we are copying the foreign curriculum and that cannot always be relevant for us. The education system should rather be based on our country’s need and demand. People need to set an example by contributing in Nepal so that the future generations too could be encouraged to stay in Nepal. And if the government educational institutions could provide better education, then the private ones can gradually phase out. <br />
	<br />
	<br />
	<strong>Government has failed in creating satisfactory long term education policies. What are your comments on this? <br />
	</strong><br />
	This is all due to unstable government. The frequent change in government is affecting policies to sustain in the long term. Reforms, policies, rules and regulations get changed with the change of government. Even though the policies are good, it definitely will be changed with new government, and it is so frequent. Still we can hope for positive changes in educational sector as there are possibilities. <br />
	<br />
	<br />
	<strong>What is your suggestion to keep education sector free from political intervention? <br />
	</strong><br />
	The unhealthy competition among major political parties has brought this problem of intervention in every sector request all the major political parties to leave at least the schools free from politics. The political parties should point out the weakness of private educational institutions and we are ready to do our best to overcome those weaknesses. This will help to run the education sector more peacefully. <br />
	<br />
	<br />
	<strong>Students seem to be more attracted towards A-level courses in the recent days. Why is +2 education gradually losing the attraction? <br />
	</strong><br />
	I disagree to this because more number of students are still attracted to +2 colleges. A-level course is of international standard and is also quite expensive. I think A-level degree is not suitable for Nepal. The majority of the students are in +2 colleges rathen than in A-level colleges. Yes, I do agree that the courses are quite advanced in A-level, but it also has its own problems. <br />
	<br />
	<br />
	<strong>It is quite confusing to choose good educational institutions. What do you suggest to the students and guardians? <br />
	</strong><br />
	Distance matters a lot, so it is better to choose those institutions which are quite near to your residence as it would consume less time. There should be enough information about the people who are running the institutions. Educationists can run the institutions well and they will be more inclined towards providing better education. Results of past few years should also be taken into consideration. In addition, the institutions should possess basic infrastructure and facilities where students could find an environment to boost their abilities. If these parameters are considered, it will be relatively easier to select a good school or college. <br />
	<br />
	<br />
	<strong>What unique characteristics do you think your institution Kathmandu Valley College (KVC) possesses when compared to the other colleges? <br />
	</strong><br />
	We have daily evaluation system where every student is supposed to appear in test at the end of the day. In this regard, I can say that our evaluation system is unique. We organize seminars and presentations every Friday to boost the students’ communication and presentation skills. We are also focused on promoting our culture. We also provide ‘Joyful Parenting Training’ where parents and students can interact with each other properly to understand each other’s point of view. We also provide job placement trainings to the students. Broadly speaking, we provide our students with reality based education. <br />
	<br />
	<br />
	<strong>What new programs are you going to introduce in near future which you think will be beneficial to boost the education system of Nepal? </strong><br />
	<br />
	We are going to provide professional computer training to students and we will also certify it. In coming year, we are adding BBA and MBA level according to the demand of students and the market. But our college is more focused on science and technology which is very important for Nepal’s development. We need fusing science and technology with business. This will help to increase the value of products and it ultimately will help to boost Nepal’s economy as well. It also will make our education system more advanced.<br />
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	<strong><span style="font-size:9.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
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	<strong><span style="font-size:14px;"><span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">Delay in passage of the government’s budget during the past few years has had a telling effect on the economy. As the government prepares its budget for the upcoming fiscal year, The Corporate talked to to representatives of the private sector and the government about it. Excerpts: </span></span></span></strong></p>
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	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Dr Jagdish Chandra Pokharel<br />
	Former Chairman<br />
	National Planning Commission </span></strong></span></p>
<p>
	<span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">The government should introduce a budget that helps in increasing the capital expenditure. The capital expenditure should be stimulated in a proper manner. Another important thing is that the new budget should not be distributive like the previous ones. The growth rate should be fixed in a pragmatic way. Earlier governments had fixed the rate just to garner the popularity of general public. Similarly, government should ensure the social security schemes if possible. Inflation is pretty high these days. So the government should bring the budget that can control the inflation. </span> </span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;<img alt="bhaskar" border="1" height="113" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/bhaskar.jpg" vspace="10" width="100" /></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Bhaskar Raj Rajkarnikar<br />
	Senior Vice-president<br />
	Federation of Nepalese <br />
	Chambers of Commerce and Industry (FNCCI) </span></strong></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">The very first thing is that we need a full-fledged budget and that needs to be passed on time. Delays in the passage of the budget in the past few years have affected many areas of the economy. The upcoming budget should be a private sector-driven one. A large portion of the budget pie should be allocated for development activities. Similarly, the budget should give due consideration to issues related to unemployment, safe employment and labour problems. </span></span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;<img alt="Meghnath Nath Neupane" border="1" height="116" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/meghnath.jpg" vspace="10" width="100" /></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Megh Nath Neupane<br />
	Director General<br />
	Confederation of Nepalese Industries </span></strong></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span style="line-height: 115%; color: rgb(34, 30, 31);">The most important thing for now is that the government is bringing out a full- fledged budget. Government should identify the areas where the budget can be spent with expected outcomes. Till now, budget has mostly been of politics-oriented type. The new budget should be completely development-oriented which could help conduct the developmental activities smoothly. The trade deficit of the country is quite high for now and considering this issue, government should bring the budget that should be export -oriented. If government could not bring such budget, then at least the budget should include some import substitution measures. This will help to balance the economy.</span></span></p>
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			'title' => 'Sharda Group: Known For Diversified Products',
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	<strong>Shiva Ratan Sharda<br />
	Chairman, Sharda Group<br />
	(Industrial &amp; Trading House)<br />
	<br />
	<br />
	<br />
	<br />
	By Sushila Budhathoki<br />
	</strong><br />
	Sharda Group (SG) is a group of companies that emerged as a business conglomerate over a span of less than 30 years with an annual turnover in excess of US $150 million. “By doing businesses that are in demand, we succeeded to establish ourselves in the market in a short period of time. The group is continuously producing diverse products to address the different needs of the customers since its inception,” shares Rajesh Koirala, General Manager at the group. <br />
	<br />
	Every company where the group invested huge money proved to be the right business as it contributed to the growth of the group. SG has been involved in a wide spectrum of industrial operations, manufacturing and trading products, ranging from industrial goods to consumer durables and non-durables. From carpets, flour, rice, footwear to oxygen, the group has been introducing various products according to the market demand. SG owns many big industries in Nepal including Asian Thai Foods- a popular name for noodle manufacturing, Pashupati Khadya Tel Udhyog- the first private sector manufacturer of refined oil in Nepal, Shivam Cements among various others. These manufacturing industries are located at Morang, Sunsari, Kathmandu and Hetauda. <br />
	<br />
	Starting from Hetauda Iron Industry, an iron manufacturing company in BS 2040, the group now has more than 20 companies with all sound business. “The establishment of iron industry was a major breakthrough in expanding of our business. The group have turned that iron industry into a company named Premier Wires that produces GI wires now,” says Koirala. Before forming the group, the group members had various other investments in gold trade, rice mills, oil industry and different small industries that eventually led them operate companies with diversification of products. <br />
	<br />
	The changing global socio-economical scenario had also set the course of businesses for the group, according to a message posted by the Chairman Shiva Ratan Sharda in their website. According to him, good quality products and services, high production capacity, prompt delivery and warm interaction with the consumers have further enhanced the reputation that the group carries. And this combined with an excellent marketing network has enabled them to cover a wide market. The Group’s Chairman is also the immediate past Chairman of the Kumari Bank. <br />
	<br />
	<br />
	<strong>Multi-product Companies </strong><br />
	<br />
	The group has established a number of industries that require high to low investments. The group has invested some Rs 1.5 billion in instant Noodles industry and in cement; the investment is around four billion. The group has also established a company, Premier Wires that produces GI wires with the capacity of 21,000 MT yearly. In plastic, it owns three various companies - Atlas Pet Plastic Industries, Premier Polymers and Pashupati Synpack for producing a wide variety of plastic products. It also produces oxygen from its two companies namely Binayak Oxygen Industries and Kantipur Oxygen Pvt Ltd.<br />
	<br />
	The group of industries has also established Asian Thai Foods with an automatic plant with a capacity of producing eight hundred thousand packets of 75gms noodles per day. For homecare products, there is a company called Cosmic Homecare that mainly manufactures a variety of mosquito repellent coils in various shapes. Other companies like Pashupati Rice and Oil Mills and Nutri Foods produce flour and rice while rubber and footwear products are produced in two companies - Lion Rubber Industries and AC Footwear. Nutri Foods Pvt. Ltd produces energy foods as well. <br />
	<br />
	The group is also involved in trading of wide variety of products including metals like copper and brass, electrical goods, machinery, FMCGs, chemicals among many others. Moreover, it has also invested in BFIS (Banking and Financial Sectors) starting with the Sunrise Bank Limited and Nepal Merchant Banking and Finance Ltd. It is also targeting hydro power projects as its new sector for investment with the Riddi Hydropower Development in hands. <br />
	<br />
	<strong><br />
	Grabbing Consumer Market </strong><br />
	<br />
	Like the products, the clients are also varied which include government projects, NGOs, private sectors and general people. According to Koirala, the Group’s specialization is in house wires, GI wires obtaining 10%, 20-25% and 15% market share respectively.&nbsp; The group regards its companies among the top five companies in Nepal. “We never compromised in quality. No one can point us about the quality of the products,” he shares. The noodles products including RumPum acquire second position in the market. It also exports some of the products to India and Bhutan. <br />
	<br />
	The market sometimes turns bad for the investors. Bishnu Shrestha, Sales and Marketing Manager at SG says, “We had a very good sale of ghee in the past. We used to export these products in other countries as well. But the business has gone down now,” Basically a manufacturing conglomerate, SG is also facing power shortage problem like many other industries in Nepal. And the competition is also harsh though they say it is healthy. Koirala says, “There are competitions in various forms mainly in terms of quality and price. And we are surviving despite the huge competition in the market. This is very important for us.” <br />
	<strong><br />
	<br />
	Management Strategies </strong><br />
	<br />
	The group employs more than 1,500 including the labour force in its various companies. Many of the workers in the organization are working for many years and some of them have served their 20- 30 years in the company. Koirala who is also serving the company for the last 20 years says, “We have a very systematic channel to maintain the workforce in our companies. There is a factory in-charge in every manufacturing section who reports to directors and the directors report to the concerned executives.” <br />
	The Chairman often meets employees in person that has, according to Koirala, contributed in creating the family environment in the company as well as building the trust among the employees. <br />
	<br />
	<strong><br />
	Future Strategies </strong><br />
	<br />
	With more quality products, the group is planning to operate more efficiently in the future. The group is planning to come with new industries and product in near future. Asian, a new biscuit from SG is preparing to appear in the market and the trial production for the same has been already conducted. A liquor industry is also in its pipeline. It is also eying to exploit the potentials and opportunities offered by IT and Telecom Industry in Nepal.<br />
	<br />
	<span style="font-size:14px;"><br />
	</span></p>
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	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Rice rubber rolls and polisher and rubber related products </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span><strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">AC Footwear Pvt Ltd, Harisiddhi, Lalitpur <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Fancy shoes, sport shoes, canvas belly, EVA slippers and soles </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Nutri Foods Pvt Ltd <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Energy and baby food products </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Binayak Oxygen Industries Pvt Ltd, Sonapur, Sunsari <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Medical and industrial oxygen gas cylinders, nitrogen gas cylinders </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span><strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Kantipur Oxygen Pvt Ltd, Harisiddhi, Lalitpur <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Oxygen cylinders for industrial and medical purpose </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Pioneer Marketing <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Import-export of copper, brass scrap, zinc ingot, zinc dross, MS plates, rice, silk, betel nuts, food products, chemicals, milk powder, sunflower oil, chocolates, dates </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span><strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Samiksha Enterprises <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Import and marketing of electrical goods, machinery, consumer goods and chemicals </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">CSR Activities <br style="mso-special-character:line-break" />
	</span></span></strong><br />
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Sharda Group believes in giving back to the society in the form of Corporate Social Responsibility (CSR) activities. The group says that the group’s contribution in development of commerce and industry has been widely recognised by the state as well as the general public. Some of the recent CSR activities include:&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">• Establishment of Dulichand Sharda Athithi Sadan in Lahan </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Establishment of Ram Kumar Sharda Uma Shankar Murarka General Hospital with 25 beds and handed over to the government </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Contributed to hostel building construction of Pashupati High English School </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Contributed to high schools and temples in Lahan and Biratnagar </span></span><span style="font-size:14px;"><span color:="" myriad="" style="line-height: 115%; font-family: "><br />
	• Donations to scholarship funds for awarding deserving students<br />
	<br />
	<br />
	<strong>Success Mantras</strong><br />
	<br />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span color:="" myriad="" style="line-height: 115%; font-family: ">- Honesty to the consumers<br />
	- Quality products<br />
	- Hard working employees<br />
	- Diversified products<br />
	- Passion for performance<br style="mso-special-character:line-break" />
	<br />
	<br style="mso-special-character:line-break" />
	</span></span></p>',
			'published' => true,
			'created' => '2013-06-24',
			'modified' => '2013-07-15',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Sharda Group (SG) is a group of companies that emerged as a business conglomerate over a span of less than 30 years with an annual turnover in excess of US $150 million. “By doing businesses that are in demand, we succeeded to establish ourselves in the market in a short period of time. The group is continuously producing diverse products to address the different needs of the customers since its inception,” shares Rajesh Koirala, General Manager at the group.',
			'sortorder' => '1000',
			'image' => '1372066264.jpg',
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	),
	(int) 6 => array(
		'Article' => array(
			'id' => '1136',
			'article_category_id' => '91',
			'title' => 'NPR Hardest Hit In South Asia By Dollar Strengthening',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>&nbsp;By Sanjeev/Rashesh/Yagya</strong><br />
	<br />
	While almost every currency in the world is losing its price against the US Dollar, last week the Nepali Rupee was hit the hardest among all South Asian counterparts. The exchange rate between Nepali Rupee and US Dollar hit record high on Wednesday (June 12). The reference exchange rate set for that day by Nepal Rastra Bank was Rs 93.19 (for buying) and Rs 95.99 (for selling) per dollar. This is the highest after eight months. However, the banks can fix their own rate based on central bank’s reference rate. <br />
	The strengthening of USD has caused mixed reactions in South Asian Forex markets (see table and charts). Sri Lanka’s rupee fell on Thursday as foreign investors booked forwards to hedge their exposure, amid a trend of foreign outflows in other Asian peers in the wake of rise in U.S. Treasury yields. Maldivian Rufiyaa is seen relatively stable than other SAARC nation currencies as the country’s earnings from the tourism sector looked robust. Bhutanese Ngultrum which is pegged with Indian Rupee followed the path of Indian currency though the country’s economy seemed fairly strong in near and medium terms. <br />
	<br />
	Meanwhile, Bangladeshi Taka maintained stable rate against the USD as earnings from the country’s garment exports increased further. Afghanistan’s currency Afghani is also seen as best performer as the country’s forex reserve increased due to the amount of financial aid from United States and it’s allies sharply rose. Pakistani currency didn’t witness substantial pressure in recent volatility as the new government unveiled a ‘business friendly’ budget and pledge to revive the ailing economy. The Chinese Yuan also performed better than some South Asian currencies though the government signaled to slow the pace of currency appreciation. <br />
	<br />
	The weakness of the Indian currency is the main cause of the sharp devaluation of Nepali Rupee. On Thursday (June 20), the Indian Rupee hits a new all-time low against the USD trading at 60 per dollar. Nepali currency which maintains exchange rate peg with the Indian Rupee was hammered by the sharp decline. The Indian currency is under huge pressure as the country’s Current Account Deficit (CAD) continues to widen in a fast pace. Amid Weakening exports, spike in gold and petroleum imports are seen as the major factors for increasing India’s trade deficit which is ultimately widening the country’s CAD. The capital flight from India in recent months is also seen as another factor for weakening rupee as foreign investors are buying more greenbacks. <br />
	<br />
	<br />
	<br />
	<strong>Fed’s policy reversal <br />
	</strong><br />
	The trend is blamed on the indication from US Federal Reserve that it would now reverse the policy of Quantitative easing (QE), thus signaling advent of tighter money supply policy. The improvement in US manufacturing, retail business and housing sector along with decreasing unemployment rate have prompted the Fed to make such policy reversal. Fed Chairman Ben Bernanke said on Wednesday the central bank will continue to reduce the pace of bond purchases in measured steps through the first half of next year, ending purchases around mid-year if the US economy continued to show strength. The Fed has been pumping massive amount of liquidity through the QE programme since 2008 to stimulate the US economy in the wake of global financial crisis. After Bernanke’s comment the long-term interest rates in US soared as investors flocked to more attractive government bonds. This resulted in sky rocketing the US Treasury yields to 10 year high causing a broad rally in USD. <br />
	<br />
	In context to Nepali economy, the strengthening of the US dollar is seen as one of the factors of negative impact. For a country with the increasing trend of trade deficit, stronger dollar brings negative impact on the balance of payment of Nepal. Recent volatility indicates that weakening of Indian currency will continue in near-term. As a result, Nepali Rupee may further depreciate and weaken the economy which is already facing various macroeconomic risks. Analysts say that the possibility of capital flight from Nepal is very high by the continuous devaluation of Nepali Rupee. According to them, the combination of negative real interest rate and return on savings along with weak investment environment has created situation of large capital flight from the country.<br />
	<br />
	 </p>',
			'published' => true,
			'created' => '2013-06-24',
			'modified' => '2013-07-25',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'While almost every currency in the world is losing its price against the US Dollar, last week the Nepali Rupee was hit the hardest among all South Asian counterparts. The exchange rate between Nepali Rupee and US Dollar hit record high on Wednesday (June 12). The reference exchange rate set for that day by Nepal Rastra Bank was Rs 93.19 (for buying) and Rs 95.99 (for selling) per dollar.',
			'sortorder' => '999',
			'image' => '1372065557.jpg',
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			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '1123',
			'article_category_id' => '72',
			'title' => 'YouTube Launches Paid Subscription Service',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	YouTube is launching a pilot program in which users can pay to subscribe to channels like Ultimate Fighting Championship and Sesame Street. Subscription fees start at 99 cents per month, and viewers can test out a channel for free as part of a 14-day trial. Once they sign up, subscribers can watch the paid channels on phones, tablets, PCs and connected televisions. <span style="font-size:10px;">(money.cnn.com)</span></p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-24',
			'keywords' => 'YouTube launches paid subscription service ,Techtalk, Mobile, youtube, Videos',
			'description' => 'YouTube is launching a pilot program in which users can pay to subscribe to channels like Ultimate Fighting Championship and Sesame Street.',
			'sortorder' => '992',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '1121',
			'article_category_id' => '56',
			'title' => 'HP’s New Year Bonanza',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	HP has launched a new offer named ‘HP New Year Bonanza’. With this offer, customers buying any HP product worth Rs 5000 will get a scratch coupon that provides a chance to win free gifts. The scheme is available through all authorized HP distributors and partners throughout the country.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-13',
			'keywords' => 'HP’s New Year Bonanza ,Biz Launches, Electronics',
			'description' => 'HP has launched a new offer named ‘HP New Year Bonanza’. With this offer, customers buying any HP product worth Rs 5000 will get a scratch coupon that provides a chance to win free gifts.',
			'sortorder' => '990',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '1119',
			'article_category_id' => '56',
			'title' => 'CG’s Double Door Refrigerators',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	CG has introduced a new Double Door refrigerator model CG – D200PF in the market. According to the company, the refrigerator with 190 litres capacity is equipped with Frost Free Technology that helps in faster cooling. The refrigerator has features like toughened glass shelves, twist ice tray and has a powerful compressor which helps in faster cooling. The floral printed refrigerators are available in Red Wine and Silver colour options and are priced Rs 26,790 and Rs 27,190 respectively.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'CG’s Double Door Refrigerators  ,Biz Launches, Electronics,',
			'description' => 'CG has introduced a new Double Door refrigerator model CG – D200PF in the market.',
			'sortorder' => '988',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '1115',
			'article_category_id' => '56',
			'title' => 'Absolut Introduces Absolut Elyx',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Absolut has launched a new vodka Absolut Elyx in Nepal. According to the company, the vodka honours the roots of Swedish spirit-making tradition as it is manually distilled in a copper column still from 1929, and is made from a single harvest of Swedish winter wheat. The vodka has a natural pure taste, and is best enjoyed neat or on the rocks, and is also perfect for martinis and classic cocktails, says a press release.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'Absolut Introduces Absolut Elyx , Biz launches',
			'description' => 'Absolut has launched a new vodka Absolut Elyx in Nepal.',
			'sortorder' => '984',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '1113',
			'article_category_id' => '56',
			'title' => 'Tuborg Celebrated Its 133rd Birthday',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Tuborg celebrated its 133rd Birthday with its consumers all over Nepal by organizing various programs, and a special musical event at Reggae Bar, Thamel. Celebrated musicians like Adrian Pradhan and Sabin Rai along with Electrix Band performed at the musical program. The event also had the participation of officials from Gorkha Brewery. Tuborg has been associating with music and promoting many musical events across the country through a musical platform ‘Tuborg Stage’.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Tuborg Celebrated its 133rd Birthday, Biz launches',
			'description' => 'Tuborg celebrated its 133rd Birthday with its consumers all over Nepal by organizing various programs, and a special musical event at Reggae Bar, Thamel.',
			'sortorder' => '982',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '1111',
			'article_category_id' => '34',
			'title' => '‘Private Sector Support A Must For Full Budget For FY 2013/14’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Finance Minister Shankar Prasad Koirala has said that the private sector would have to extend full cooperation to the government to bring a full-fledged budget for fiscal year 2013/14. He, however, said that the government was making preparations for such a budget. Minister Koirala said so while addressing a programme organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Pokhara Chamber of Commerce and Industry.&nbsp;</p>
<p>
	“Learning its lessons from the previous years, the government has concluded that a full-fledged budget for the next fiscal year is a must. The government expects full cooperation from the private sector for such a budget,” said Minister Koirala. &nbsp;</p>
<p>
	“For economic development, we must be able to increase the investment, particularly in the development of infrastructure,” remarked Koirala. He added that as the business community is the one suffering greatly from the current energy crisis, the government would try to reduce load-shedding as well. Koirala, who also holds the industry and supplies portfolio, also stressed on the need for industrial development in the country.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Private Sector Support a Must for Full Budget for FY 2013/14, Economy, Biz News',
			'description' => 'Finance Minister Shankar Prasad Koirala has said that the private sector would have to extend full cooperation to the government to bring a full-fledged budget for fiscal year 2013/14.',
			'sortorder' => '980',
			'image' => null,
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			'homepage' => false,
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	),
	(int) 13 => array(
		'Article' => array(
			'id' => '1109',
			'article_category_id' => '34',
			'title' => '“India’s Leadership Necessary For Regional Economic Integration”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	If former Foreign Minister Dr Prakash Chandra Lohani is to be believed, there is unwillingness among the South Asian Countries to form a strategic vision of economic cooperation. Speaking in a one-day conference on Indo-Nepal trade and investment at Observer Research Foundation (ORF) on 22 April, 2013, Dr Lohani said that the economic cooperation should allow the gravitational force of the large and dynamic Indian economy to act as a lever to pull all other member states in the path of collective prosperity.&nbsp;</p>
<p>
	He further said that India should take the lead in the economic integration of the region and carry the smaller states along with it towards the path of economic prosperity. Viewed from a gravity model perspective developed by economists and geographers, India is the most important country in the region, Dr Lohani said. He further explained that the size of the country, the dynamism of its economy and the distance factor involved imply that smaller South Asian countries will find the gravitational pull of the Indian economy a vital element in their quest for prosperity.</p>
<p>
	The conference was organised as part of the joint study ORF has undertaken along with the South Asian Institute of Management (SAIM), Nepal, on Indo-Nepal trade and investment.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'India’s leadership necessary for regional economic integration, Economy, Biz News',
			'description' => 'If former Foreign Minister Dr Prakash Chandra Lohani is to be believed, there is unwillingness among the South Asian Countries to form a strategic vision of economic cooperation.',
			'sortorder' => '978',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '1107',
			'article_category_id' => '34',
			'title' => 'Cable Car In Capital In Four Years!',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	B&amp;S Urban Cable has come up with a cable car solution to the Kathmandu Valley’s traffic congestion. According to the company promoted by FNCCI Vice President, Bhawani Rana in partnership with Shyam Mohan Shrestha, a detailed study is under way for the project.&nbsp;</p>
<p>
	“The project is expected to complete at a cost of Rs 15-20 billion in four years.” Rana told the Corporate. The company has already conducted a preliminary study for operating cable cars from Narayan Gopal Chowk to Lagankhel and from Kuleshwor to Baudha, with stations at different places for passenger embarkation and disembarkation. The project envisages deployment of sufficient number of cable cars to carry 200,000 persons per day. Each car will have a capacity to carry 25 to 30 persons at a time. The fares for the cable car will be similar to other public transport vehicles, according to Rana. According to her the Nepali government people are positive towards the projects. Moreover, 3-4 French companies have shown interest to partner with B&amp;S Urban Cable in this project. Similarly, the firm is also talking with some Australian, American as well as Swiss companies.</p>',
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			'title' => 'South Asia To Take Worst Hit Of Climate Change',
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	South Asia, with India right in the centre, South-East Asia and Sub-Saharan Africa are likely to face the worst heat from climate change, a study released by the World Bank predicts. Last year the bank had released a report that estimated that by the end of this century the world would be warmer by 4 degree Celsius, which would severely impact agricultural production, water resources, coastal ecosystems as well as the cities. This is in comparison to the pre-industrialisation days. <br />
	<br />
	The new report predicts that globally a 2 degree Celsius rise in temperature is likely to lead to a 20 per cent dip in water availability. Further, a 4 degree rise will create severe water stress with availability declining by 50 per cent. In a grim finding, the report suggests that sea levels may rise by 50 cm as early as 2050 and by 100 cm by 2100. This could result in several heavily populated portions of land going under water. Indians may well have to get used to extreme summers, increased drought as well as increased flooding as precipitation patterns change dramatically. <br />
	<br />
	<strong>(The Hindu Business Line)<br />
	<br />
	Nepal Becoming More Vulnerable</strong><br />
	<br />
	Nepal is also witnessing a significant impact of the climate change along with other South Asian neighbours. Although Nepal’s contribution to Climate Change is negligible compared to the developed and major developing countries, it is becoming more vulnerable to the economic and ecological impacts of climate change .The mountain region is experiencing an increasing frequency and intensity of extreme climate events such as Glacial Lake Outburst Floods (GLOF), flash floods, monsoon floods and cloudbursts, which in turn bring down huge amounts of sediment thereby causing widespread damage to property and life in lower areas. <br />
	<br />
	Similarly, the Terai region is also experiencing harsh winter fog. The traditional resilience of the region and its people is rapidly being eroded by a growing reliance on and over-exploitation of natural resources which is threatening sustainability. Nepal’s vulnerability to climate change is clearly tied to its water resource management. Water resources are linked to livelihoods and development through hydropower, irrigation, health, and disasters. Changes in hydrological cycle and the gradual depletion of water resources are some of the top environmental challenges that Nepal is facing in the context of global warming. Sharply shrinking of forest areas is also a major concern. <br />
	<br />
	Experts warn about the effect of climate change on Nepali economy.’ All these factors are seriously threatening Nepal’s agricultural output which highly depends upon rainfall rather than irrigation,’ says Manjit Dhakal, Program Director of Clean Energy Nepal, the secretariat of Climate Change Network Nepal. ‘Now-a-days dry season is getting more dry while wet season is becoming more wet, the seasons have become unpredictable too,’ he said pointing to the environmental anomaly. According to Dhakal, hydropower and tourism are among other sectors to be affected as Nepal’s energy production and inflow of foreigners are directly related to the change in climate. <br />
	<br />
	‘Climate change has become a major international issue, talking about global scenario we can see that it has evolved as a political, economic and diplomatic issue , the government should realize this as we are among the most suffering from global warming,’ Dhakal mentioned. He suggested the government to step forward for the proper and effective implementation of policies related to climate change. ‘Priority should be given for implementation rather than adoption of policies, we’ve experienced that by just printing policies in a paper won’t be of any help,’ he added.<br />
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	<strong>Fed Hints of Ending Asset Purchases</strong><br />
	<br />
	The US Federal Reserve has maintained the rate of its asset purchase programme at $85bn a month, but could start scaling it back soon.It also kept interest rates at a record low range of between zero and 0.25%. Fed chairman Ben Bernanke said on Wednesday that if the central bank’s forecasts were correct, it could begin slowing asset purchases by the end of 2013 and wind them down completely by the middle of 2014. (Agency)<br />
	<br />
	<img alt="cocacola" border="1" height="107" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/cococola.jpg" vspace="10" width="150" /><br />
	<br />
	<strong>Facebook Reaches 1 mn Advertisers Globally</strong><br />
	<br />
	Facebook Inc said on Tuesday that it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth. A vast majority of those advertisers are small business owners who have flocked to the world’s No 1 social network. (Agency)<br />
	<br />
	<br />
	<img alt="" src="http://www.newbusinessage.com/images/thecorporate/gold.jpg" /><br />
	<br />
	<strong>Gold Recovers After Market Rout</strong><br />
	<br />
	Gold rose 1.3 percenton Friday, rebounding from nearly a three-year low earlier, but for the week it still dropped the most in nearly two years after the U.S. Federal Reserve’s most explicit indication to end its stimulus sparked a global market rout. Spot gold closed up 1.3 percent at $1,291.60 an ounce after having earlier hit its lowest since September 2010 at $1,268.89 an ounce. (Agency)<br />
	<br />
	<br />
	<strong>UK banks Told to Plug £27bn Hole</strong><br />
	<br />
	UK lenders need to raise billions more in capital to cover their risks, according to their financial regulator. The Prudential Regulation Authority (PRA) says Britain’s top banks and building societies need to fill a £27.1 billion hole in their balance sheets. Royal Bank of Scotland was the regulator’s main cause of concern, accounting for £13.6 bn of the total. Lloyds Banking Group accounted for £8.6bn and Barclays £3bn. Nationwide had a shortfall of £400m. (BBC)<br />
	<br />
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	<br />
	<strong>China’s Manufacturing Slows Further</strong><br />
	<br />
	China’s manufacturing activity weakened further in June, falling to a nine-month low as demand fell, according to a preliminary survey by HSBC. The bank’s Purchasing Managers’ Index (PMI) declined to 48.3, from May’s reading of 49.2. A reading below 50 indicates a contraction. The weak data comes amid fresh concerns over the health of Chinese economy, the world’s second-largest. (Agency)<br />
	<br />
	<br />
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	<strong>‘Need fusing science and technology with business’<br />
	</strong><br />
	Swagat Shrestha is the Chairperson of Higher Secondary School’s Association of Nepal’s Kathmandu Chapter (HISSAN KTM). Sweta Sharma of The Corporate Weekly talked with Shrestha about overall education system of Nepal, its reforms, problems and challenges. Excerpts: <br />
	<br />
	<br />
	<strong>How do you evaluate the present education system of Nepal? <br />
	</strong><br />
	Education system of Nepal has improved in a satisfactory way. There have been improvements in courses and vocational and business education are introduced in government schools and colleges. <br />
	<br />
	<br />
	<strong>Comparing with the last year, SLC pass percentage is quite low this year. What do you think might be the reason behind it? <br />
	</strong><br />
	The government has allocated 17 per cent of budget for education. Looking at this, the SLC pass percentage is quite discouraging. This is an issue to be considered seriously. In cities like Kathmandu, we do have 80-90 pass percentages. But the government schools mainly those of out of valley have only 10- 12 pass percentage. Earlier, many schools openly helped students cheat in SLC exams. This year, the examination was very strict, and the papers were also evaluated strictly which might have caused this decline. <br />
	<br />
	<br />
	<strong>One of Nepal’s Millennium Development Goals is to have 100 per cent enrollment in primary school. To what extent do you think it would be possible? <br />
	</strong><br />
	These days, people are quite aware of the importance of education and literacy. Especially in villages, more and more people are being aware about education and we must thank political parties for this as they keep visiting villages for various awareness programmes. This has led to expect some good changes in education sector and I do think there is the possibility of educating a huge portion of the population. <br />
	<br />
	<br />
	<strong>What major reforms do you think are necessary for Nepal’s education system? <br />
	</strong><br />
	The education system of Nepal is city-oriented as must of educational institutions are located in the major cities. Private sector is basically surviving on its own and they have the inclination towards staying where they see good business possibility. It is government’s responsibility to provide education free of cost but instead there is impractical policy that requires educational institutions to pay VAT like tax to the government. <br />
	<br />
	But above all, the major problem of Nepal is political instability and it has affected almost every sector. Every sector is politicized and education sector is also affected largely. Also, we are copying the foreign curriculum and that cannot always be relevant for us. The education system should rather be based on our country’s need and demand. People need to set an example by contributing in Nepal so that the future generations too could be encouraged to stay in Nepal. And if the government educational institutions could provide better education, then the private ones can gradually phase out. <br />
	<br />
	<br />
	<strong>Government has failed in creating satisfactory long term education policies. What are your comments on this? <br />
	</strong><br />
	This is all due to unstable government. The frequent change in government is affecting policies to sustain in the long term. Reforms, policies, rules and regulations get changed with the change of government. Even though the policies are good, it definitely will be changed with new government, and it is so frequent. Still we can hope for positive changes in educational sector as there are possibilities. <br />
	<br />
	<br />
	<strong>What is your suggestion to keep education sector free from political intervention? <br />
	</strong><br />
	The unhealthy competition among major political parties has brought this problem of intervention in every sector request all the major political parties to leave at least the schools free from politics. The political parties should point out the weakness of private educational institutions and we are ready to do our best to overcome those weaknesses. This will help to run the education sector more peacefully. <br />
	<br />
	<br />
	<strong>Students seem to be more attracted towards A-level courses in the recent days. Why is +2 education gradually losing the attraction? <br />
	</strong><br />
	I disagree to this because more number of students are still attracted to +2 colleges. A-level course is of international standard and is also quite expensive. I think A-level degree is not suitable for Nepal. The majority of the students are in +2 colleges rathen than in A-level colleges. Yes, I do agree that the courses are quite advanced in A-level, but it also has its own problems. <br />
	<br />
	<br />
	<strong>It is quite confusing to choose good educational institutions. What do you suggest to the students and guardians? <br />
	</strong><br />
	Distance matters a lot, so it is better to choose those institutions which are quite near to your residence as it would consume less time. There should be enough information about the people who are running the institutions. Educationists can run the institutions well and they will be more inclined towards providing better education. Results of past few years should also be taken into consideration. In addition, the institutions should possess basic infrastructure and facilities where students could find an environment to boost their abilities. If these parameters are considered, it will be relatively easier to select a good school or college. <br />
	<br />
	<br />
	<strong>What unique characteristics do you think your institution Kathmandu Valley College (KVC) possesses when compared to the other colleges? <br />
	</strong><br />
	We have daily evaluation system where every student is supposed to appear in test at the end of the day. In this regard, I can say that our evaluation system is unique. We organize seminars and presentations every Friday to boost the students’ communication and presentation skills. We are also focused on promoting our culture. We also provide ‘Joyful Parenting Training’ where parents and students can interact with each other properly to understand each other’s point of view. We also provide job placement trainings to the students. Broadly speaking, we provide our students with reality based education. <br />
	<br />
	<br />
	<strong>What new programs are you going to introduce in near future which you think will be beneficial to boost the education system of Nepal? </strong><br />
	<br />
	We are going to provide professional computer training to students and we will also certify it. In coming year, we are adding BBA and MBA level according to the demand of students and the market. But our college is more focused on science and technology which is very important for Nepal’s development. We need fusing science and technology with business. This will help to increase the value of products and it ultimately will help to boost Nepal’s economy as well. It also will make our education system more advanced.<br />
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	<strong><span style="font-size:9.0pt;mso-bidi-font-family:&quot;Myriad Pro&quot;;
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	<strong><span style="font-size:14px;"><span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">Delay in passage of the government’s budget during the past few years has had a telling effect on the economy. As the government prepares its budget for the upcoming fiscal year, The Corporate talked to to representatives of the private sector and the government about it. Excerpts: </span></span></span></strong></p>
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	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Dr Jagdish Chandra Pokharel<br />
	Former Chairman<br />
	National Planning Commission </span></strong></span></p>
<p>
	<span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">The government should introduce a budget that helps in increasing the capital expenditure. The capital expenditure should be stimulated in a proper manner. Another important thing is that the new budget should not be distributive like the previous ones. The growth rate should be fixed in a pragmatic way. Earlier governments had fixed the rate just to garner the popularity of general public. Similarly, government should ensure the social security schemes if possible. Inflation is pretty high these days. So the government should bring the budget that can control the inflation. </span> </span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;<img alt="bhaskar" border="1" height="113" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/bhaskar.jpg" vspace="10" width="100" /></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Bhaskar Raj Rajkarnikar<br />
	Senior Vice-president<br />
	Federation of Nepalese <br />
	Chambers of Commerce and Industry (FNCCI) </span></strong></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><span style="color: rgb(34, 30, 31);">The very first thing is that we need a full-fledged budget and that needs to be passed on time. Delays in the passage of the budget in the past few years have affected many areas of the economy. The upcoming budget should be a private sector-driven one. A large portion of the budget pie should be allocated for development activities. Similarly, the budget should give due consideration to issues related to unemployment, safe employment and labour problems. </span></span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;</span></p>
<p class="Default">
	<span style="font-size:14px;">&nbsp;<img alt="Meghnath Nath Neupane" border="1" height="116" hspace="10" src="http://www.newbusinessage.com/images/thecorporate/meghnath.jpg" vspace="10" width="100" /></span></p>
<p class="Pa17">
	<span style="font-size:14px;"><strong><span style="color: rgb(34, 30, 31);">Megh Nath Neupane<br />
	Director General<br />
	Confederation of Nepalese Industries </span></strong></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span style="line-height: 115%; color: rgb(34, 30, 31);">The most important thing for now is that the government is bringing out a full- fledged budget. Government should identify the areas where the budget can be spent with expected outcomes. Till now, budget has mostly been of politics-oriented type. The new budget should be completely development-oriented which could help conduct the developmental activities smoothly. The trade deficit of the country is quite high for now and considering this issue, government should bring the budget that should be export -oriented. If government could not bring such budget, then at least the budget should include some import substitution measures. This will help to balance the economy.</span></span></p>
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			'title' => 'Sharda Group: Known For Diversified Products',
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	<strong>Shiva Ratan Sharda<br />
	Chairman, Sharda Group<br />
	(Industrial &amp; Trading House)<br />
	<br />
	<br />
	<br />
	<br />
	By Sushila Budhathoki<br />
	</strong><br />
	Sharda Group (SG) is a group of companies that emerged as a business conglomerate over a span of less than 30 years with an annual turnover in excess of US $150 million. “By doing businesses that are in demand, we succeeded to establish ourselves in the market in a short period of time. The group is continuously producing diverse products to address the different needs of the customers since its inception,” shares Rajesh Koirala, General Manager at the group. <br />
	<br />
	Every company where the group invested huge money proved to be the right business as it contributed to the growth of the group. SG has been involved in a wide spectrum of industrial operations, manufacturing and trading products, ranging from industrial goods to consumer durables and non-durables. From carpets, flour, rice, footwear to oxygen, the group has been introducing various products according to the market demand. SG owns many big industries in Nepal including Asian Thai Foods- a popular name for noodle manufacturing, Pashupati Khadya Tel Udhyog- the first private sector manufacturer of refined oil in Nepal, Shivam Cements among various others. These manufacturing industries are located at Morang, Sunsari, Kathmandu and Hetauda. <br />
	<br />
	Starting from Hetauda Iron Industry, an iron manufacturing company in BS 2040, the group now has more than 20 companies with all sound business. “The establishment of iron industry was a major breakthrough in expanding of our business. The group have turned that iron industry into a company named Premier Wires that produces GI wires now,” says Koirala. Before forming the group, the group members had various other investments in gold trade, rice mills, oil industry and different small industries that eventually led them operate companies with diversification of products. <br />
	<br />
	The changing global socio-economical scenario had also set the course of businesses for the group, according to a message posted by the Chairman Shiva Ratan Sharda in their website. According to him, good quality products and services, high production capacity, prompt delivery and warm interaction with the consumers have further enhanced the reputation that the group carries. And this combined with an excellent marketing network has enabled them to cover a wide market. The Group’s Chairman is also the immediate past Chairman of the Kumari Bank. <br />
	<br />
	<br />
	<strong>Multi-product Companies </strong><br />
	<br />
	The group has established a number of industries that require high to low investments. The group has invested some Rs 1.5 billion in instant Noodles industry and in cement; the investment is around four billion. The group has also established a company, Premier Wires that produces GI wires with the capacity of 21,000 MT yearly. In plastic, it owns three various companies - Atlas Pet Plastic Industries, Premier Polymers and Pashupati Synpack for producing a wide variety of plastic products. It also produces oxygen from its two companies namely Binayak Oxygen Industries and Kantipur Oxygen Pvt Ltd.<br />
	<br />
	The group of industries has also established Asian Thai Foods with an automatic plant with a capacity of producing eight hundred thousand packets of 75gms noodles per day. For homecare products, there is a company called Cosmic Homecare that mainly manufactures a variety of mosquito repellent coils in various shapes. Other companies like Pashupati Rice and Oil Mills and Nutri Foods produce flour and rice while rubber and footwear products are produced in two companies - Lion Rubber Industries and AC Footwear. Nutri Foods Pvt. Ltd produces energy foods as well. <br />
	<br />
	The group is also involved in trading of wide variety of products including metals like copper and brass, electrical goods, machinery, FMCGs, chemicals among many others. Moreover, it has also invested in BFIS (Banking and Financial Sectors) starting with the Sunrise Bank Limited and Nepal Merchant Banking and Finance Ltd. It is also targeting hydro power projects as its new sector for investment with the Riddi Hydropower Development in hands. <br />
	<br />
	<strong><br />
	Grabbing Consumer Market </strong><br />
	<br />
	Like the products, the clients are also varied which include government projects, NGOs, private sectors and general people. According to Koirala, the Group’s specialization is in house wires, GI wires obtaining 10%, 20-25% and 15% market share respectively.&nbsp; The group regards its companies among the top five companies in Nepal. “We never compromised in quality. No one can point us about the quality of the products,” he shares. The noodles products including RumPum acquire second position in the market. It also exports some of the products to India and Bhutan. <br />
	<br />
	The market sometimes turns bad for the investors. Bishnu Shrestha, Sales and Marketing Manager at SG says, “We had a very good sale of ghee in the past. We used to export these products in other countries as well. But the business has gone down now,” Basically a manufacturing conglomerate, SG is also facing power shortage problem like many other industries in Nepal. And the competition is also harsh though they say it is healthy. Koirala says, “There are competitions in various forms mainly in terms of quality and price. And we are surviving despite the huge competition in the market. This is very important for us.” <br />
	<strong><br />
	<br />
	Management Strategies </strong><br />
	<br />
	The group employs more than 1,500 including the labour force in its various companies. Many of the workers in the organization are working for many years and some of them have served their 20- 30 years in the company. Koirala who is also serving the company for the last 20 years says, “We have a very systematic channel to maintain the workforce in our companies. There is a factory in-charge in every manufacturing section who reports to directors and the directors report to the concerned executives.” <br />
	The Chairman often meets employees in person that has, according to Koirala, contributed in creating the family environment in the company as well as building the trust among the employees. <br />
	<br />
	<strong><br />
	Future Strategies </strong><br />
	<br />
	With more quality products, the group is planning to operate more efficiently in the future. The group is planning to come with new industries and product in near future. Asian, a new biscuit from SG is preparing to appear in the market and the trial production for the same has been already conducted. A liquor industry is also in its pipeline. It is also eying to exploit the potentials and opportunities offered by IT and Telecom Industry in Nepal.<br />
	<br />
	<span style="font-size:14px;"><br />
	</span></p>
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<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Nutri Foods Pvt Ltd, Sonapur Sunsari <br style="mso-special-character:
line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Wheat flour, fine flour, coarse wheat flour and husk <br />
	<br style="mso-special-character:line-break" />
	</span></span><br />
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Lion Rubber Industries Pvt Ltd, Duhabi <br style="mso-special-character:
line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Rice rubber rolls and polisher and rubber related products </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span><strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">AC Footwear Pvt Ltd, Harisiddhi, Lalitpur <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Fancy shoes, sport shoes, canvas belly, EVA slippers and soles </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Nutri Foods Pvt Ltd <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Energy and baby food products </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Binayak Oxygen Industries Pvt Ltd, Sonapur, Sunsari <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Medical and industrial oxygen gas cylinders, nitrogen gas cylinders </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span><strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Kantipur Oxygen Pvt Ltd, Harisiddhi, Lalitpur <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Oxygen cylinders for industrial and medical purpose </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Pioneer Marketing <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Import-export of copper, brass scrap, zinc ingot, zinc dross, MS plates, rice, silk, betel nuts, food products, chemicals, milk powder, sunflower oil, chocolates, dates </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span><strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Samiksha Enterprises <br style="mso-special-character:line-break" />
	</span></span></strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Import and marketing of electrical goods, machinery, consumer goods and chemicals </span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	</span></span></strong></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<strong><span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">CSR Activities <br style="mso-special-character:line-break" />
	</span></span></strong><br />
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">Sharda Group believes in giving back to the society in the form of Corporate Social Responsibility (CSR) activities. The group says that the group’s contribution in development of commerce and industry has been widely recognised by the state as well as the general public. Some of the recent CSR activities include:&nbsp;</span></span></p>
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
9.05pt;mso-layout-grid-align:none;text-autospace:none">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br style="mso-special-character:line-break" />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span color:="" myriad="" style="font-family: ">• Establishment of Dulichand Sharda Athithi Sadan in Lahan </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Establishment of Ram Kumar Sharda Uma Shankar Murarka General Hospital with 25 beds and handed over to the government </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Contributed to hostel building construction of Pashupati High English School </span></span><span style="font-size:14px;"><span color:="" myriad="" style="font-family: "><br />
	• Contributed to high schools and temples in Lahan and Biratnagar </span></span><span style="font-size:14px;"><span color:="" myriad="" style="line-height: 115%; font-family: "><br />
	• Donations to scholarship funds for awarding deserving students<br />
	<br />
	<br />
	<strong>Success Mantras</strong><br />
	<br />
	</span></span></p>
<p class="MsoNormal">
	<span style="font-size:14px;"><span color:="" myriad="" style="line-height: 115%; font-family: ">- Honesty to the consumers<br />
	- Quality products<br />
	- Hard working employees<br />
	- Diversified products<br />
	- Passion for performance<br style="mso-special-character:line-break" />
	<br />
	<br style="mso-special-character:line-break" />
	</span></span></p>',
			'published' => true,
			'created' => '2013-06-24',
			'modified' => '2013-07-15',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Sharda Group (SG) is a group of companies that emerged as a business conglomerate over a span of less than 30 years with an annual turnover in excess of US $150 million. “By doing businesses that are in demand, we succeeded to establish ourselves in the market in a short period of time. The group is continuously producing diverse products to address the different needs of the customers since its inception,” shares Rajesh Koirala, General Manager at the group.',
			'sortorder' => '1000',
			'image' => '1372066264.jpg',
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	),
	(int) 6 => array(
		'Article' => array(
			'id' => '1136',
			'article_category_id' => '91',
			'title' => 'NPR Hardest Hit In South Asia By Dollar Strengthening',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>&nbsp;By Sanjeev/Rashesh/Yagya</strong><br />
	<br />
	While almost every currency in the world is losing its price against the US Dollar, last week the Nepali Rupee was hit the hardest among all South Asian counterparts. The exchange rate between Nepali Rupee and US Dollar hit record high on Wednesday (June 12). The reference exchange rate set for that day by Nepal Rastra Bank was Rs 93.19 (for buying) and Rs 95.99 (for selling) per dollar. This is the highest after eight months. However, the banks can fix their own rate based on central bank’s reference rate. <br />
	The strengthening of USD has caused mixed reactions in South Asian Forex markets (see table and charts). Sri Lanka’s rupee fell on Thursday as foreign investors booked forwards to hedge their exposure, amid a trend of foreign outflows in other Asian peers in the wake of rise in U.S. Treasury yields. Maldivian Rufiyaa is seen relatively stable than other SAARC nation currencies as the country’s earnings from the tourism sector looked robust. Bhutanese Ngultrum which is pegged with Indian Rupee followed the path of Indian currency though the country’s economy seemed fairly strong in near and medium terms. <br />
	<br />
	Meanwhile, Bangladeshi Taka maintained stable rate against the USD as earnings from the country’s garment exports increased further. Afghanistan’s currency Afghani is also seen as best performer as the country’s forex reserve increased due to the amount of financial aid from United States and it’s allies sharply rose. Pakistani currency didn’t witness substantial pressure in recent volatility as the new government unveiled a ‘business friendly’ budget and pledge to revive the ailing economy. The Chinese Yuan also performed better than some South Asian currencies though the government signaled to slow the pace of currency appreciation. <br />
	<br />
	The weakness of the Indian currency is the main cause of the sharp devaluation of Nepali Rupee. On Thursday (June 20), the Indian Rupee hits a new all-time low against the USD trading at 60 per dollar. Nepali currency which maintains exchange rate peg with the Indian Rupee was hammered by the sharp decline. The Indian currency is under huge pressure as the country’s Current Account Deficit (CAD) continues to widen in a fast pace. Amid Weakening exports, spike in gold and petroleum imports are seen as the major factors for increasing India’s trade deficit which is ultimately widening the country’s CAD. The capital flight from India in recent months is also seen as another factor for weakening rupee as foreign investors are buying more greenbacks. <br />
	<br />
	<br />
	<br />
	<strong>Fed’s policy reversal <br />
	</strong><br />
	The trend is blamed on the indication from US Federal Reserve that it would now reverse the policy of Quantitative easing (QE), thus signaling advent of tighter money supply policy. The improvement in US manufacturing, retail business and housing sector along with decreasing unemployment rate have prompted the Fed to make such policy reversal. Fed Chairman Ben Bernanke said on Wednesday the central bank will continue to reduce the pace of bond purchases in measured steps through the first half of next year, ending purchases around mid-year if the US economy continued to show strength. The Fed has been pumping massive amount of liquidity through the QE programme since 2008 to stimulate the US economy in the wake of global financial crisis. After Bernanke’s comment the long-term interest rates in US soared as investors flocked to more attractive government bonds. This resulted in sky rocketing the US Treasury yields to 10 year high causing a broad rally in USD. <br />
	<br />
	In context to Nepali economy, the strengthening of the US dollar is seen as one of the factors of negative impact. For a country with the increasing trend of trade deficit, stronger dollar brings negative impact on the balance of payment of Nepal. Recent volatility indicates that weakening of Indian currency will continue in near-term. As a result, Nepali Rupee may further depreciate and weaken the economy which is already facing various macroeconomic risks. Analysts say that the possibility of capital flight from Nepal is very high by the continuous devaluation of Nepali Rupee. According to them, the combination of negative real interest rate and return on savings along with weak investment environment has created situation of large capital flight from the country.<br />
	<br />
	 </p>',
			'published' => true,
			'created' => '2013-06-24',
			'modified' => '2013-07-25',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'While almost every currency in the world is losing its price against the US Dollar, last week the Nepali Rupee was hit the hardest among all South Asian counterparts. The exchange rate between Nepali Rupee and US Dollar hit record high on Wednesday (June 12). The reference exchange rate set for that day by Nepal Rastra Bank was Rs 93.19 (for buying) and Rs 95.99 (for selling) per dollar.',
			'sortorder' => '999',
			'image' => '1372065557.jpg',
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '1123',
			'article_category_id' => '72',
			'title' => 'YouTube Launches Paid Subscription Service',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	YouTube is launching a pilot program in which users can pay to subscribe to channels like Ultimate Fighting Championship and Sesame Street. Subscription fees start at 99 cents per month, and viewers can test out a channel for free as part of a 14-day trial. Once they sign up, subscribers can watch the paid channels on phones, tablets, PCs and connected televisions. <span style="font-size:10px;">(money.cnn.com)</span></p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-24',
			'keywords' => 'YouTube launches paid subscription service ,Techtalk, Mobile, youtube, Videos',
			'description' => 'YouTube is launching a pilot program in which users can pay to subscribe to channels like Ultimate Fighting Championship and Sesame Street.',
			'sortorder' => '992',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '1121',
			'article_category_id' => '56',
			'title' => 'HP’s New Year Bonanza',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	HP has launched a new offer named ‘HP New Year Bonanza’. With this offer, customers buying any HP product worth Rs 5000 will get a scratch coupon that provides a chance to win free gifts. The scheme is available through all authorized HP distributors and partners throughout the country.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-13',
			'keywords' => 'HP’s New Year Bonanza ,Biz Launches, Electronics',
			'description' => 'HP has launched a new offer named ‘HP New Year Bonanza’. With this offer, customers buying any HP product worth Rs 5000 will get a scratch coupon that provides a chance to win free gifts.',
			'sortorder' => '990',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '1119',
			'article_category_id' => '56',
			'title' => 'CG’s Double Door Refrigerators',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	CG has introduced a new Double Door refrigerator model CG – D200PF in the market. According to the company, the refrigerator with 190 litres capacity is equipped with Frost Free Technology that helps in faster cooling. The refrigerator has features like toughened glass shelves, twist ice tray and has a powerful compressor which helps in faster cooling. The floral printed refrigerators are available in Red Wine and Silver colour options and are priced Rs 26,790 and Rs 27,190 respectively.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'CG’s Double Door Refrigerators  ,Biz Launches, Electronics,',
			'description' => 'CG has introduced a new Double Door refrigerator model CG – D200PF in the market.',
			'sortorder' => '988',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '1115',
			'article_category_id' => '56',
			'title' => 'Absolut Introduces Absolut Elyx',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Absolut has launched a new vodka Absolut Elyx in Nepal. According to the company, the vodka honours the roots of Swedish spirit-making tradition as it is manually distilled in a copper column still from 1929, and is made from a single harvest of Swedish winter wheat. The vodka has a natural pure taste, and is best enjoyed neat or on the rocks, and is also perfect for martinis and classic cocktails, says a press release.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'Absolut Introduces Absolut Elyx , Biz launches',
			'description' => 'Absolut has launched a new vodka Absolut Elyx in Nepal.',
			'sortorder' => '984',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '1113',
			'article_category_id' => '56',
			'title' => 'Tuborg Celebrated Its 133rd Birthday',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Tuborg celebrated its 133rd Birthday with its consumers all over Nepal by organizing various programs, and a special musical event at Reggae Bar, Thamel. Celebrated musicians like Adrian Pradhan and Sabin Rai along with Electrix Band performed at the musical program. The event also had the participation of officials from Gorkha Brewery. Tuborg has been associating with music and promoting many musical events across the country through a musical platform ‘Tuborg Stage’.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Tuborg Celebrated its 133rd Birthday, Biz launches',
			'description' => 'Tuborg celebrated its 133rd Birthday with its consumers all over Nepal by organizing various programs, and a special musical event at Reggae Bar, Thamel.',
			'sortorder' => '982',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '1111',
			'article_category_id' => '34',
			'title' => '‘Private Sector Support A Must For Full Budget For FY 2013/14’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Finance Minister Shankar Prasad Koirala has said that the private sector would have to extend full cooperation to the government to bring a full-fledged budget for fiscal year 2013/14. He, however, said that the government was making preparations for such a budget. Minister Koirala said so while addressing a programme organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Pokhara Chamber of Commerce and Industry.&nbsp;</p>
<p>
	“Learning its lessons from the previous years, the government has concluded that a full-fledged budget for the next fiscal year is a must. The government expects full cooperation from the private sector for such a budget,” said Minister Koirala. &nbsp;</p>
<p>
	“For economic development, we must be able to increase the investment, particularly in the development of infrastructure,” remarked Koirala. He added that as the business community is the one suffering greatly from the current energy crisis, the government would try to reduce load-shedding as well. Koirala, who also holds the industry and supplies portfolio, also stressed on the need for industrial development in the country.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Private Sector Support a Must for Full Budget for FY 2013/14, Economy, Biz News',
			'description' => 'Finance Minister Shankar Prasad Koirala has said that the private sector would have to extend full cooperation to the government to bring a full-fledged budget for fiscal year 2013/14.',
			'sortorder' => '980',
			'image' => null,
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	),
	(int) 13 => array(
		'Article' => array(
			'id' => '1109',
			'article_category_id' => '34',
			'title' => '“India’s Leadership Necessary For Regional Economic Integration”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	If former Foreign Minister Dr Prakash Chandra Lohani is to be believed, there is unwillingness among the South Asian Countries to form a strategic vision of economic cooperation. Speaking in a one-day conference on Indo-Nepal trade and investment at Observer Research Foundation (ORF) on 22 April, 2013, Dr Lohani said that the economic cooperation should allow the gravitational force of the large and dynamic Indian economy to act as a lever to pull all other member states in the path of collective prosperity.&nbsp;</p>
<p>
	He further said that India should take the lead in the economic integration of the region and carry the smaller states along with it towards the path of economic prosperity. Viewed from a gravity model perspective developed by economists and geographers, India is the most important country in the region, Dr Lohani said. He further explained that the size of the country, the dynamism of its economy and the distance factor involved imply that smaller South Asian countries will find the gravitational pull of the Indian economy a vital element in their quest for prosperity.</p>
<p>
	The conference was organised as part of the joint study ORF has undertaken along with the South Asian Institute of Management (SAIM), Nepal, on Indo-Nepal trade and investment.&nbsp;</p>',
			'published' => true,
			'created' => '2013-06-08',
			'modified' => '2013-06-08',
			'keywords' => 'India’s leadership necessary for regional economic integration, Economy, Biz News',
			'description' => 'If former Foreign Minister Dr Prakash Chandra Lohani is to be believed, there is unwillingness among the South Asian Countries to form a strategic vision of economic cooperation.',
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			'article_category_id' => '34',
			'title' => 'Cable Car In Capital In Four Years!',
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			'content' => '<p>
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<p>
	B&amp;S Urban Cable has come up with a cable car solution to the Kathmandu Valley’s traffic congestion. According to the company promoted by FNCCI Vice President, Bhawani Rana in partnership with Shyam Mohan Shrestha, a detailed study is under way for the project.&nbsp;</p>
<p>
	“The project is expected to complete at a cost of Rs 15-20 billion in four years.” Rana told the Corporate. The company has already conducted a preliminary study for operating cable cars from Narayan Gopal Chowk to Lagankhel and from Kuleshwor to Baudha, with stations at different places for passenger embarkation and disembarkation. The project envisages deployment of sufficient number of cable cars to carry 200,000 persons per day. Each car will have a capacity to carry 25 to 30 persons at a time. The fares for the cable car will be similar to other public transport vehicles, according to Rana. According to her the Nepali government people are positive towards the projects. Moreover, 3-4 French companies have shown interest to partner with B&amp;S Urban Cable in this project. Similarly, the firm is also talking with some Australian, American as well as Swiss companies.</p>',
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			'created' => '2013-06-08',
			'modified' => '0000-00-00',
			'keywords' => 'Cable Car in Capital in Four Years!, Travel, Tourism, Technology, Biz news, Infrastructure',
			'description' => 'B&S Urban Cable has come up with a cable car solution to the Kathmandu Valley’s traffic congestion. According to the company promoted by FNCCI Vice President, Bhawani Rana in partnership with Shyam Mohan Shrestha, a detailed study is under way for the project.',
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