Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '1019',
			'article_category_id' => '60',
			'title' => 'Dragonair’s New Uniform',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Dragonair has announced the rollout of the airline’s new uniform to more than 3,000 customer-facing staff across its network. The change would be effective from March 28, 2013. A launching event was hosted by Dragonair Chairman, John Slosar, and Chief Executive Officer, Patrick Yeung, along with the uniform’s designer, Eddie Lau. &nbsp;</p>
<p>
	Dragonair has seen three uniform changes since its establishment in 1985, with the last design being employed for more than 13 years. Staff and passengers were also involved throughout the 18-month uniform development process. A series of staff surveys, consultations, prototype presentations, wearer trial and focus groups with Marco Polo Club members were conducted to collect a wide variety of views and opinions before the design of the new uniform was finalized, informed the airline.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'Dragonair’s New Uniform, Civil Aviation',
			'description' => 'Dragonair has announced the rollout of the airline’s new uniform to more than 3,000 customer-facing staff across its network. The change would be effective from March 28, 2013.',
			'sortorder' => '894',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '1018',
			'article_category_id' => '60',
			'title' => 'China Southern To Start Guangzhou-Moscow Flights',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	The airline is going to start three Guangzhou-Moscow flights a week with its luxury wide body aircraft in June 19, 2013. &nbsp;According to a press release from the airline, A330-200 is an advanced wide bodied double aisle passenger aircraft manufactured by Airbus, with long cruise and load capacity. The aircraft is equipped with 4 luxurious first class private suites, 24 business class flat bed seats, 48 premium economy class and 148 economy class seats which will ensure a more comfortable experience on the long journey.&nbsp;</p>
<p>
	Moreover, the passengers can now connect their flight from Moscow to Iceland, St Petersburg, Helsinki, Warsaw, Denmark and Stockholm. Moreover, the airline is operating many international flights to different destinations. In Australia, the cities where the company flies are Sydney, Melbourne, Brisbane and Perth. Customers also can fly to New Zealand, since the airline operates flights to Auckland. Destinations in Europe include London, Amsterdam and Paris. Los Angeles and Vancouver are the cities where customers can fly to within North America. Other destinations in Asia include Japan, Korea, Philippines, Thailand, Singapore and Hong Kong.</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'China Southern to Start Guangzhou-Moscow Flights',
			'description' => 'The airline is going to start three Guangzhou-Moscow flights a week with its luxury wide body aircraft in June 19, 2013.',
			'sortorder' => '893',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '1017',
			'article_category_id' => '60',
			'title' => 'Etihad Moves To Uttardhoka',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Etihad Airways, the national airline of the UAE, has moved offices from its previous location in the Yak and Yeti Hotel in Durbarmarg to Metro Park in the Uttardhoka. The shift to the new location was made on April 1. According to the airline, the move aims to provide employees and visitors with more comfortable and luxurious facilities and surroundings.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'Etihad Moves to Uttardhoka, Civil Aviation',
			'description' => 'Etihad Airways, the national airline of the UAE, has moved offices from its previous location in the Yak and Yeti Hotel in Durbarmarg to Metro Park in the Uttardhoka.',
			'sortorder' => '892',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '1016',
			'article_category_id' => '60',
			'title' => 'Grounded NAC Aircraft To Resume Flights Within Three Months: Tourism Minister',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Nepal Airlines Corporation (NAC) will be ready to start the flights of its grounded domestic aircrafts within three months, said Ram Kumar Shrestha, Minister for Culture, Tourism and Civil Aviation. He said so in a programme organized by tourism entrepreneurs from various parts of Nepal. &nbsp;In the programme, Shrestha stated that &nbsp;the flights will start after repairing the grounded aircrafts.&nbsp;</p>
<p>
	Although NAC has five aircrafts for domestic flights, only two aircrafts, 9N-ABO and ABT, are in operation. Three aircrafts, 9N ABB, ABU and ABX flights are still grounded. According to Shrestha, &nbsp;the aircrafts will be promptly repaired, with a cost of around Rs 160 million, and the NAC authorities will be directed to operate the flights soon.&nbsp;</p>
<p>
	He also said that If NAC isn’t able to start the flights within three months, the repaired aircrafts will be given to the private sector on lease, and the private sector will have to pay Rs 1 million per month and per aircraft.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Grounded NAC Aircraft To Resume Flights Within Three Months: Tourism Minister , Civil Aviation',
			'description' => 'Nepal Airlines Corporation (NAC) will be ready to start the flights of its grounded domestic aircrafts within three months, said Ram Kumar Shrestha, Minister for Culture, Tourism and Civil Aviation.',
			'sortorder' => '891',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '1015',
			'article_category_id' => '31',
			'title' => '‘We Don’t Do Anything Non-profit’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>Cliff Reeves, General Manager of Microsoft Corp. for Strategic &amp; Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre. He looks after the social side of the business and works with young students and business leaders from all over the world. In an interview with Modnath Dhakal,from New Business Age, Reeves shared his ideas and views on Microsoft products, software piracy and IT entrepreneurship.&nbsp;</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Excerpts:&nbsp;</strong></p>
<p>
	<strong style="font-size: 12px;">What is the purpose of your visit to Nepal?&nbsp;</strong></p>
<p>
	This is not a special visit, I have come to see Allen (Allen Bailochan Tuladhar) and Microsoft Innovation Centre (MIC) in Kathmandu. We have more than one hundred MICs around the world and the Kathmandu centre, headed by Allen, is one of the strongest. We have opened 19 MICs in India and I am talking to the people working there. We have just organized MIC summit in Bangalore. We are also planning for a new MIC in Nepal too.</p>
<p>
	<strong>How is Microsoft performing here, in Nepal?</strong></p>
<p>
	It’s doing very well. My focus is entirely on the start-ups, students and entrepreneurs. Therefore, I don’t know exactly about the sales and other areas. &nbsp;We are reaching a significant number of students and have collected significant number of facts in their employability. With programmes like Microsoft Student Partners, Microsoft Virtual Academy and the IT Academy, which actually helps with the certification of their qualifications, we are reaching to them. We are very pleased with the programme and its progress.&nbsp;</p>
<p>
	<strong>Many people in South Asia and developing countries use pirated Windows operating system or other software because of its cheap price. What is your take on this?&nbsp;</strong></p>
<p>
	Piracy is the practical issue. Pirated software is not worth paying for because it does not come with the extra support that we provide. On the other hand, the cost of software has gone down dramatically. We do want to deal with the piracy, it’s illegal. We do want to get revenue from our products. But we don’t think piracy is our primary problem. Ultimately, people will go for the quality software.</p>
<p>
	<strong>What strategies has Microsoft been putting in action to solve the piracy problem?&nbsp;</strong></p>
<p>
	That is not my area of focus. I focus on making sure that the people who need the software, get it. These are the people who are in school or in universities or who are looking for an assistance to set up their businesses. I make sure that they have access to it. We give our software to developers without any cost for three years. Many of the small companies fail. Therefore, we don’t want to be the reason behind their failure because of the high cost of the software. &nbsp;When they succeed, they pay a good premium to our software. It’s a good investment.&nbsp;</p>
<p>
	<strong>Has your business improved here after the development of Unicode Nepali software?&nbsp;</strong></p>
<p>
	I don’t know much about it, but Microsoft believes that language projects help to boost the sales of software. Inclusion is a good business.</p>
<p>
	<strong>Where is Microsoft in the competition of mobile OS among Android, Apple, Simbion and Blackberry?</strong></p>
<p>
	We are number two in India. But worldwide Android is the volume leader, Apple has the profitability and Microsoft had a late entrance to the market. But we have a long history of endurance, which is supported by the best technology in the world. There are very few companies in the world that have had more than one major product success. Microsoft had two or probably three successful products: Windows, Office and the game console X-box.&nbsp;</p>
<p>
	<strong>You are running various non-profit activities in Nepal like distribution of software to students, language development etc., is it your CSR or business enhancement strategy?&nbsp;</strong></p>
<p>
	It’s not non-profit. I don’t think we do anything non-profit. It should be for profit . Our relationship with the start-ups is based on both direct and indirect value to Microsoft. The indirect value to Microsoft is that, as economies grow, we grow. If you have a good boat and the water level is going up, you both are going up. So we are very interested in building good relationships with universities, which is where the talents come from. We want good talents. That engagement with the students and start-ups is vital for us. In this course we make sure that the students have access to our technology with very advantageous prices or for free. In the long run, they are going to be our customers. There is a balance of altruism and profit-motive. And I think that is the right thing for the business.&nbsp;</p>
<p>
	<strong>How do you track the young talents?&nbsp;</strong></p>
<p>
	We often work with the universities. We run Microsoft Student Partners (MSP) programs in various universities. The students who are interested in technology can apply for MSP. We accept the eligible students and train them for free. They often end up being evangelists . They often teach their class and earn some respect from their fellow students. We hire some of them. We also take some help from these young energetic people to improve our technologies.&nbsp;</p>
<p>
	Programs like IT Academy, Microsoft Virtual Academy, MIC etc., inspire students to develop something new. MVA provides the training materials online. We help young students to become entrepreneurs and IT professionals.&nbsp;</p>
<p>
	<strong>What is your success-mantra to those young aspiring entrepreneurs who face &nbsp;constraints financing their business?&nbsp;</strong></p>
<p>
	I would say money is not the primary problem. It was so a decade ago but the situation has changed a lot. There are new elements that make a successful start-up. First, and the obvious, is the Internet. It reached to almost anybody with almost zero friction and zero cost. It means that market, technology and customers are accessible. Promotion is less expensive. Because of social networking, you will get the customers without employing the sales force. And then the technology itself has got incredibly powerful. Now, it takes lot less codes and fewer tools. The tools you need are freely available. It has helped to narrow down the gap between the idea and the successful market. &nbsp;To get a big business idea is hard but your ability as an entrepreneur to develop a program, to get your first consumer, to improve it, to refine it and to market it will not be spoiled by the cost. The cost is just plummeted. So my advice is not to focus on finances but to get the viable product in the hands of your customer. If you can do that, then you can go to the investor. Investors are always ready to finance &nbsp;good ideas and products.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Cliff Reeves, General Manager of Microsoft Corp. for Strategic & Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre.',
			'description' => 'Cliff Reeves, General Manager of Microsoft Corp. for Strategic & Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre.',
			'sortorder' => '890',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '1014',
			'article_category_id' => '31',
			'title' => '‘We Ensure The Optimum Operational Conditions Of Our Products’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><img alt="Seung Woo Lee, Visiting Business People" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/visiting_business_people_may2013_seung_woo(1).jpg" style="float:left; margin:0 10px 0 0;" /><br />
	</strong></p>
<p>
	<strong>Seung Woo Lee is the General Manager, Sales and Marketing of Hyundai Construction Equipment India Pvt Ltd, one of the fastest growing manufacturers of excavators in India and in the world. In the last year, Hyundai sold 2034 units of excavator and captured a market share of 14 per cent in the Indian excavator market and consolidated its position at number three. It is also eying Nepali market. Recently, Seung was in Nepal and Siromani Dhungana of New Business Age talked to him regarding business prospects of Hyundai in Nepal.&nbsp;</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">What was the purpose of your visit to Nepal?</strong></p>
<p>
	We are here for launching our products, 22Ton class excavator series. We are launching two excavators, which are Robex220LC-7 and Robex220LC-9s, both manufactured in India. We take this occasion as a chance to interact with our local customers and to provide better service to them.</p>
<p>
	<strong>What are the products you are currently supplying to Nepal?</strong></p>
<p>
	We are currently supplying 14-20ton crawling excavators. That is the category of machines, with its the operating weight.&nbsp;</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	There is a big demand for our products in big projects, like hydropower and road constructions. Though such projects are very low in number in Nepal now, the number and speed of the projects will be higher &nbsp;after some time. &nbsp;May be it won’t take a long time to see the boom in the market.</p>
<p>
	<strong>Why should consumers choose your products?</strong></p>
<p>
	We focus in better technology, services and operating costs. We have focused in these things both in our previous products and in the new ones. There are various sides and factors in which we have evolved and enhanced ourselves better. We also have improved &nbsp;in after sale services and spare parts. We ensure the optimum operation conditions throughout its lifetime, with higher liability and lesser fuel consumption.</p>
<p>
	<strong>How do you see the South Asian market?</strong></p>
<p>
	Developing countries &nbsp;have always been a priority for our business, and South Asian countries have a lot of opportunity, being their markets vital for us. The economic effect of the problem in European countries, which started in 2008, had affected South Asian countries including India, which accounts for a big portion in construction market.&nbsp;</p>
<p>
	<strong>What is the level of competition you face in Nepal? Are you satisfied with it?</strong></p>
<p>
	It’s fierce. Every single machine should count on. In terms of overall market size, it has significantly decreased at this moment and I really cannot say the exact number. The positive side is that we are maintaining ourselves. The relationship with our customers, our support to them in after sale services and spare parts with our dealer CSPL here is good.&nbsp;</p>
<p>
	<strong>How do your products help your customers to enhance their business and revenue?</strong></p>
<p>
	We focus on efficiency of our products. In the long run, the operating cost, the fuel efficiency and after sales services matter most to the customers. So we try to lower the maintenance cost by accommodating long life hydraulic and filters.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'We Ensure The Optimum Operational Conditions Of Our Products, Seung Woo Lee',
			'description' => 'Seung Woo Lee is the General Manager, Sales and Marketing of Hyundai Construction Equipment India Pvt Ltd, one of the fastest growing manufacturers of excavators in India and in the world.',
			'sortorder' => '889',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '1013',
			'article_category_id' => '31',
			'title' => '‘Android Smartphones Democratise The Market’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><img alt="De Finbarr Moynihan, Visiting business people" height="283" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/visiting_business_people_may2013_finbarr(1).jpg" style="float:left;margin:0 10px 0 0;" width="250" /><strong>Dr Finbarr Moynihan is General Manager, Corporate Business Development for MediaTek. In this role, he manages MediaTek’s global customer, partner and operator relationships. Prior to this, he was Director of Product Marketing for MediaTek’s Smartphone Business Unit – based in Hsinchu, Taiwan. &nbsp;During his recent visit to Nepal, Bijaya Giri of New Business Age talked to him regarding market prospects of MediaTek in Nepal.</strong></span></p>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">What is the purpose of your visit to Nepal?</strong></p>
<p>
	Our partner here, Teletalk, is announcing a range of products. We are here for the launching tablets and phablet devices based on our chipsets. Like other markets, we highly value Nepali market and local brands.</p>
<p>
	<strong>Can you briefly tell us about your products?</strong></p>
<p>
	We mainly focus on big digital consumer markets – feature phones, smart phones, tablets, DTV, DVD, Set-top boxes and digital home platforms. We also centre our attention on things like WiFi routers and access points. &nbsp;We ship roughly 500-550 million chipset of mobile every year. We are in the mobile market since 2004, however we are still relatively new in the smart phone market – we started shipping 3G smart phone chipsets during the second half of 2011. &nbsp;</p>
<p>
	<strong>What are the products you are currently supplying in Nepal?</strong></p>
<p>
	We mostly supply for our local partners here, like Teletalk. Colors mobile, as a local brand, uses our chipset. We mainly supply chipsets and solutions for feature phones - 2G Bar phones, low-cost android phones to higher-performance 4-5 inch phablet phones, which uses quad-core chipsets for higher performances. We also supply chipsets for 3G Data Cards.</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	Like other markets, we have highly valued the Nepali market and local brands. We don’t make phones, but try to enable our customers and local brand partners, like Colors Mobile, to do so as easily as possible. &nbsp;The adoption of smart phones by the Nepali market is increasing and that is important for us. The emergence of Android smart phones democratise the market, which is heavily occupied by major technological giants. We believe that the consumer adoption of these smart phones, with access to data services, social networks and other varied applications, will continue to have beneficial effects for the societies that adopt them.</p>
<p>
	<strong>Why should consumers choose your products?</strong></p>
<p>
	Because of the way we approach the market and we plan. We supply the chip but what we deliver to the customer is much more than that. We don’t make the final products but we deliver complete software solutions along with the chipsets. The products our partner delivers, at cost effective prices, are not lower in comparison with high end devices. For good user experience, the power consumption, battery life and multimedia experience fulfil the consumers’ expectations.&nbsp;</p>
<p>
	<strong>How do you see the South Asian market?</strong></p>
<p>
	It’s been very important for us. For many years it’s been our major market for the 2G feature phone. The market effect we saw last year in China is now happening in the South Asian market. This means more tablets and more convergence from 2G to 3G. This trend is not going to stop and that’s why we are excited and focused on that. &nbsp;</p>
<p>
	<strong>What is the level of competition you face in Nepal?</strong></p>
<p>
	The competition in mobile space is always tough. Different brands, different chipset suppliers and so many other factors drive the market. This year, the &nbsp;sales volume of smart phones, as we expected, has been increasing so far in Nepal. The global competition in the smartphone segment is huge and tough for each major or minor player. You have to deliver better, faster and more affordable products to the consumer in order to be able to sustain yourself in the market. That’s part of life in this business.</p>
<p>
	<strong>What are your future strategies?</strong></p>
<p>
	We are focusing on 3G and 4G high performing technologies, including smart phones and devices for emerging markets like Nepal. &nbsp;We are also centred on more affordable Data Cards.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => '‘Android Smartphones Democratise The Market’, Dr Finbarr Moynihan',
			'description' => 'Dr Finbarr Moynihan is General Manager, Corporate Business Development for MediaTek. In this role, he manages MediaTek’s global customer, partner and operator relationships.',
			'sortorder' => '888',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '1012',
			'article_category_id' => '37',
			'title' => 'Can Nepal Achieve 7 Per Cent  Economic Growth Rate?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The Nepali economy has not been doing well for the past many years. According to Nepal Rastra Bank (NRB), the country’s economic growth rate has remained sluggish for the past many years, mainly because of the decade-long conflict and political instability. In the period from FY 2001/02 to 2011/12, Nepal’s GDP growth rate has crossed the five percent mark only once (in FY 2007/08 when the growth rate was 6.10 per cent), according to the Central Department of Statistics. However, Nepal’s highest GDP growth rate so far was recorded in FY 1994/95, a year before the Maoist insurgency started in Nepal. Almost all economists and development experts agree that Nepal’s economic performance will not improve unless there is political stability.&nbsp;</span></p>
<p>
	We find that the economic growth rate increases when the agricultural growth rate is high (agriculture contributes to more than one-third of Nepal’s GDP). However, the growth in agriculture is dependent on monsoon rains; it is high when the country receives a good rainfall and low when the rainfall is low. The projected economic growth rate for the current fiscal year 2012/13 has already been revised twice – first from 5 per cent to 4.1 and then to 3.5 most recently. This means Nepal will have to double its current economic growth rate if it is to achieve a healthy growth rate of 7 per cent. That is clearly a tall order.&nbsp;</p>
<p>
	However, is that an impossible target for Nepal? Or can the country really achieve this target? If it can, how and through what measures? We asked these questions to a number of economists and development experts. Their responses are given below:&nbsp;</p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1011">‘Focus on agriculture and industrialisation’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1010" style="font-size: 12px;">‘Political stability&nbsp;<span style="font-size: 12px;">is a must’&nbsp;</span></a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1009">‘Seven percent growth rate possible’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1008">‘Need for political consensus on fundamental issues of development’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1007">‘Nepal has the potential to achieve 7% growth rate’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1006">‘Focus on tourism, productivity and exports’</a></p>
<p>
	<strong style="font-size: 12px;"><br />
	</strong></p>
<p>
	<strong style="font-size: 12px;">Economic Prospects</strong></p>
<p>
	<span style="font-size: 12px;">The economic outlook for Nepal hinges on how political uncertainties are resolved, the weather, and remittance inflows. Investor confidence is depressed by concerns over the political transition, now in its fifth year, following the dissolution in May 2012 of the Constituent Assembly, which failed to agree on a constitution. Recently, the political parties agreed to form a caretaker government led by the Chief Justice, which is expected to hold a Constituent Assembly election by 21 June 2013.</span></p>
<p>
	In view of the unfavorable monsoon, the shortage of fertilizers during the peak paddy planting season, low business confidence, the lack of a parliamentary-approved full budget, and subdued growth in India, GDP is projected to slow to 3.5% in FY2013. Production of paddy is projected to fall by 11.3%, maize by 8%, and millet by 2%. The lack of a full budget is causing funding shortages for ongoing development activities. While the industry sector performance is expected to remain weak, services growth is expected to continue to grow at around 5.4%. With a favorable monsoon, adequate fertilizer supplies, the timely adoption of a budget, and moderate expansion of remittances, GDP growth would rebound to 4.2% in FY2014.</p>
<p>
	<img alt="Annual GDP growth rate" height="319" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/economy_and_policy_may2013_annual_gdp.jpg" style="margin:0 10px 0 0;" width="595" /></p>
<p>
	(Source: Asian Development Outlook 2013)</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Can Nepal Achieve 7 Per Cent  Economic Growth Rate?',
			'description' => 'The Nepali economy has not been doing well for the past many years. According to Nepal Rastra Bank (NRB), the country’s economic growth rate has remained sluggish for the past many years, mainly because of the decade-long conflict and political instability.',
			'sortorder' => '887',
			'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' => '1011',
			'article_category_id' => '37',
			'title' => '‘Focus On Agriculture And Industrialisation’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Focus on agriculture and industrialisation’</p>
<p>
	Nepal cannot achieve a healthy economic growth rate so long as there are political instability, labour problems and low production in the country. Nepal witnessed economic stability in FY 1994-95 and that was for very short period of time. The agriculture sector could help to increase the country’s economic growth rate but the government has not been able to make enough investment in this sector. We must be able to commercialise our agricultural sector by introducing modern technologies in our traditional farming system. Simultaneously, we should also focus on industrial development which is the backbone for the development of any country in this age. &nbsp;</p>
<address>
	<strong>Himalaya Shamsher JBR</strong></address>
<address>
	<strong>First NRB Governor&nbsp;</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Focus on agriculture and industrialisation',
			'description' => 'Nepal cannot achieve a healthy economic growth rate so long as there are political instability, labour problems and low production in the country. Nepal witnessed economic stability in FY 1994-95 and that was for very short period of time.',
			'sortorder' => '886',
			'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' => '1010',
			'article_category_id' => '37',
			'title' => '‘Political Stability Is A Must’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	<span style="font-size: 12px;">‘Political stability is a must’</span></p>
<p>
	For a rapid economic growth, we need proper plans, policies and programmes. However, we cannot expect a robust economic growth rate unless we have political stability in the country. Political stability is a must. Similarly, we need to substantially increase the investment in the agriculture sector and make concerted efforts to modernize it. The services sector in Nepal has good prospects. A sustained growth in this sector, too, can help Nepal achieve a healthy economic growth rate. So, we must focus on agro-processing industries and on the development of new software technologies. Similarly, we must be able to use the ever increasing remittance inflows in a more productive manner if we are to achieve a growth rate of seven percent or more.&nbsp;</p>
<address>
	<strong>Dr Narayan Khadka</strong></address>
<address>
	<strong>Former Vice-chairman</strong></address>
<address>
	<strong>National Planning Commission</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Political stability is a must',
			'description' => 'For a rapid economic growth, we need proper plans, policies and programmes. However, we cannot expect a robust economic growth rate unless we have political stability in the country.',
			'sortorder' => '885',
			'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' => '1009',
			'article_category_id' => '37',
			'title' => '‘Seven Percent Growth Rate Possible’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Seven percent growth rate possible’</p>
<p>
	<span style="font-size: 12px;">Nepal’s economy has every possibility to grow by 7 per cent in the next fiscal provided that there is political stability in the country and the government makes policy changes to encourage the private sector.</span><span style="font-size: 12px;">The government should focus on providing a stable policy environment, integrating growth of the industrial and service sector and making investments in domestic production to displace imports.</span><span style="font-size: 12px;">Similarly, there is a need to boost our agricultural production. However, we should be able to create markets for our agricultural products.&nbsp;</span></p>
<address>
	<strong>Dr Posh Raj Pandey</strong></address>
<address>
	<strong>Executive Chairman</strong></address>
<address>
	<strong>South Asian Watch on Trade, Economics and Environment (SAWTEE)</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Seven percent growth rate possible',
			'description' => 'Nepal’s economy has every possibility to grow by 7 per cent in the next fiscal provided that there is political stability in the country and the government makes policy changes to encourage the private sector.',
			'sortorder' => '884',
			'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' => '1008',
			'article_category_id' => '37',
			'title' => '‘Need For Political Consensus On Fundamental Issues Of Development’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Need For Political Consensus On Fundamental Issues Of Development’</p>
<p>
	<span style="font-size: 12px;">Nepal needs a growth rate of around 4-5 per cent in the agriculture sector and 9-10 per cent in other sectors if the country’s GDP is to grow by around 7 per cent. Development is basically a political process.&nbsp;</span><span style="font-size: 12px;">Therefore, it is crucial that the major political parties reach a consensus on the fundamental issues of development. Liberalisation is needed for the growth of organised industrial trade and business.&nbsp;</span><span style="font-size: 12px;">We also need to enhance our productivity and introduce modern technologies to our agriculture sector.</span></p>
<address>
	<strong>Dr Badri Prasad Shrestha</strong></address>
<address>
	<strong>Former Finance Minister</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Need For Political Consensus on Fundamental Issues of Development',
			'description' => 'Nepal needs a growth rate of around 4-5 per cent in the agriculture sector and 9-10 per cent in other sectors if the country’s GDP is to grow by around 7 per cent. Development is basically a political process.',
			'sortorder' => '883',
			'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' => '1007',
			'article_category_id' => '37',
			'title' => '‘Nepal Has The Potential To Achieve 7% Growth Rate’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Nepal has the potential to achieve 7% growth rate’</p>
<p>
	<span style="font-size: 12px;">Nepal actually does have the potential to achieve a seven percent economic growth rate or more, like our two immediate neighbours – India and China. But in the present situation of political instability and uncertainty, it seems an almost impossible target. The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in the current fiscal year.&nbsp;</span></p>
<p>
	We must focus on our major sectors such as agriculture, tourism, water resource etc if we are to attain speedy economic growth. We must increase our domestic production significantly if we are to achieve such a high growth rate. Increased domestic production will not only help reduce the ever-rising imports of several products but will also help us earn foreign currency by increased exports. Likewise, we must also be able to develop our education, health and social sectors.&nbsp;</p>
<p>
	Finally, the government should create an investment-friendly environment by introducing matching policies and ensuring the security of investment – foreign as well as domestic.&nbsp;</p>
<address>
	<strong>Narayanraj Tiwari</strong></address>
<address>
	<strong>Former Finance Secretary</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Nepal Has The Potential To Achieve 7% Growth Rate',
			'description' => 'Nepal actually does have the potential to achieve a seven percent economic growth rate or more, like our two immediate neighbours – India and China.',
			'sortorder' => '882',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '1006',
			'article_category_id' => '37',
			'title' => '‘Focus On Tourism, Productivity And Exports’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Focus On Tourism, Productivity And Exports’</p>
<p>
	<span style="font-size: 12px;">Nepal has the prospects for large-scale investment. Foreign investment is important for the development of sectors such as hydropower, tourism, transport, railway, agriculture and other bigger projects. We need to speedily develop bigger hydropower projects to address the energy crisis. Without tackling the energy crisis, we cannot really expect a healthy economic growth rate. Both the public and the private sectors should invest to increase production. We also need rapid industrialization which will create new employment opportunities. Nepal has tremendous possibilities of tourism development. Nepal should basically target Chinese and Indian tourists. In the last fiscal year, more than 10 million Chinese and Indian tourists went for outbound travel. If we can attract only 10 per cent of it, we will have one million more tourists. Nepal should make serious attempts to achieve this. Nepal should make long-term strategies to reduce imports and increase exports by increasing the domestic production of goods and services. Nepal should focus on increasing the export of commodities like, carpet, herbs, ginger, tea and Pashmina, among others.</span></p>
<div>
	<address>
		<strong>Jaya Mukunda Khanal&nbsp;</strong></address>
	<address>
		<strong>Secretary</strong></address>
	<address>
		<strong>Ministry of Agriculture Development</strong></address>
</div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Focus On Tourism, Productivity And Exports',
			'description' => 'Nepal has the prospects for large-scale investment. Foreign investment is important for the development of sectors such as hydropower, tourism, transport, railway, agriculture and other bigger projects. We need to speedily develop bigger hydropower projects to address the energy crisis.',
			'sortorder' => '881',
			'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' => '1005',
			'article_category_id' => '85',
			'title' => 'Gold Plunges As Fears Over Inflation Fade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation. Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.The reversal comes as investors are grappling with signs the global economic expansion that began in 2009 is slowing.</span></p>
<p>
	The prices of industrial commodities ranging from copper to crude oil tumbled Monday, following news of softer-than-expected economic growth and industrial output in China. Adding to the gloom, the Federal Reserve Bank of New York issued a report showing manufacturing in the region barely expanding. The Dow Jones Industrial Average marked its worst one-day point decline since Nov. 7, 2012, dropping 265.86 points, or 1.8%, to 14599.20. Declines in commodity-linked sectors such as mining and energy led the selloff, with Freeport-McMoRan Copper &amp; Gold Inc. dropping 8.3%.</p>
<p>
	The market selloff continued in early trading Tuesday in Asia, with Japan down 1.3%, Korea down 0.5% and Australia down 0.8%. Gold also traded lower on the Tokyo Commodity Exchange, triggering circuit breakers because of steep price drops.</p>
<p>
	After posting 12 consecutive annual price rises, gaining more than 500% over that span, gold is suddenly being shunned by investors who once saw it as a way to generate outsize returns without the volatility and uneven performance in the stock, bond and real-estate markets.</p>
<p>
	The gold rout stemmed partly from worries Cyprus and perhaps other nations may become sellers of the precious metal. Other price drags cited by traders included a sale recommendation on gold last week fromGoldman Sachs Group Inc., and a growing view that stocks are better investments, due to continuing low inflation.</p>
<p>
	"Forced selling" by investors holding gold was also among the reasons stock and commodity markets tumbled Monday, said John Brynjolfsson, who runs the $1 billion hedge fund Armored Wolf LLC. Investors. After markets closed Monday, CME Group Inc., which operates the Comex gold market, increased the sums investors must pledge in order to trade gold futures. Exchange operators often raise so-called margin requirements at times of large market swings.</p>
<p>
	Gold's capitulation has been months in the making. The price hit a recent high in October and has been in decline since. Over the past six years, central banks in the U.S. and Europe have printed extraordinary amounts of their currencies in an effort to resuscitate the world economy. Every new round of "quantitative easing," as it has been dubbed, was accompanied by loud warnings that the inevitable result of this easy money would be a surge of inflation.&nbsp;</p>
<p>
	 </p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Gold Plunges As Fears Over Inflation Fade, Global Biz Trends, New Business Age',
			'description' => 'Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation.',
			'sortorder' => '880',
			'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
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]
Code Context
//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '1019',
			'article_category_id' => '60',
			'title' => 'Dragonair’s New Uniform',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Dragonair has announced the rollout of the airline’s new uniform to more than 3,000 customer-facing staff across its network. The change would be effective from March 28, 2013. A launching event was hosted by Dragonair Chairman, John Slosar, and Chief Executive Officer, Patrick Yeung, along with the uniform’s designer, Eddie Lau. &nbsp;</p>
<p>
	Dragonair has seen three uniform changes since its establishment in 1985, with the last design being employed for more than 13 years. Staff and passengers were also involved throughout the 18-month uniform development process. A series of staff surveys, consultations, prototype presentations, wearer trial and focus groups with Marco Polo Club members were conducted to collect a wide variety of views and opinions before the design of the new uniform was finalized, informed the airline.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'Dragonair’s New Uniform, Civil Aviation',
			'description' => 'Dragonair has announced the rollout of the airline’s new uniform to more than 3,000 customer-facing staff across its network. The change would be effective from March 28, 2013.',
			'sortorder' => '894',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '1018',
			'article_category_id' => '60',
			'title' => 'China Southern To Start Guangzhou-Moscow Flights',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	The airline is going to start three Guangzhou-Moscow flights a week with its luxury wide body aircraft in June 19, 2013. &nbsp;According to a press release from the airline, A330-200 is an advanced wide bodied double aisle passenger aircraft manufactured by Airbus, with long cruise and load capacity. The aircraft is equipped with 4 luxurious first class private suites, 24 business class flat bed seats, 48 premium economy class and 148 economy class seats which will ensure a more comfortable experience on the long journey.&nbsp;</p>
<p>
	Moreover, the passengers can now connect their flight from Moscow to Iceland, St Petersburg, Helsinki, Warsaw, Denmark and Stockholm. Moreover, the airline is operating many international flights to different destinations. In Australia, the cities where the company flies are Sydney, Melbourne, Brisbane and Perth. Customers also can fly to New Zealand, since the airline operates flights to Auckland. Destinations in Europe include London, Amsterdam and Paris. Los Angeles and Vancouver are the cities where customers can fly to within North America. Other destinations in Asia include Japan, Korea, Philippines, Thailand, Singapore and Hong Kong.</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'China Southern to Start Guangzhou-Moscow Flights',
			'description' => 'The airline is going to start three Guangzhou-Moscow flights a week with its luxury wide body aircraft in June 19, 2013.',
			'sortorder' => '893',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '1017',
			'article_category_id' => '60',
			'title' => 'Etihad Moves To Uttardhoka',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Etihad Airways, the national airline of the UAE, has moved offices from its previous location in the Yak and Yeti Hotel in Durbarmarg to Metro Park in the Uttardhoka. The shift to the new location was made on April 1. According to the airline, the move aims to provide employees and visitors with more comfortable and luxurious facilities and surroundings.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'Etihad Moves to Uttardhoka, Civil Aviation',
			'description' => 'Etihad Airways, the national airline of the UAE, has moved offices from its previous location in the Yak and Yeti Hotel in Durbarmarg to Metro Park in the Uttardhoka.',
			'sortorder' => '892',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '1016',
			'article_category_id' => '60',
			'title' => 'Grounded NAC Aircraft To Resume Flights Within Three Months: Tourism Minister',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Nepal Airlines Corporation (NAC) will be ready to start the flights of its grounded domestic aircrafts within three months, said Ram Kumar Shrestha, Minister for Culture, Tourism and Civil Aviation. He said so in a programme organized by tourism entrepreneurs from various parts of Nepal. &nbsp;In the programme, Shrestha stated that &nbsp;the flights will start after repairing the grounded aircrafts.&nbsp;</p>
<p>
	Although NAC has five aircrafts for domestic flights, only two aircrafts, 9N-ABO and ABT, are in operation. Three aircrafts, 9N ABB, ABU and ABX flights are still grounded. According to Shrestha, &nbsp;the aircrafts will be promptly repaired, with a cost of around Rs 160 million, and the NAC authorities will be directed to operate the flights soon.&nbsp;</p>
<p>
	He also said that If NAC isn’t able to start the flights within three months, the repaired aircrafts will be given to the private sector on lease, and the private sector will have to pay Rs 1 million per month and per aircraft.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Grounded NAC Aircraft To Resume Flights Within Three Months: Tourism Minister , Civil Aviation',
			'description' => 'Nepal Airlines Corporation (NAC) will be ready to start the flights of its grounded domestic aircrafts within three months, said Ram Kumar Shrestha, Minister for Culture, Tourism and Civil Aviation.',
			'sortorder' => '891',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '1015',
			'article_category_id' => '31',
			'title' => '‘We Don’t Do Anything Non-profit’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>Cliff Reeves, General Manager of Microsoft Corp. for Strategic &amp; Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre. He looks after the social side of the business and works with young students and business leaders from all over the world. In an interview with Modnath Dhakal,from New Business Age, Reeves shared his ideas and views on Microsoft products, software piracy and IT entrepreneurship.&nbsp;</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Excerpts:&nbsp;</strong></p>
<p>
	<strong style="font-size: 12px;">What is the purpose of your visit to Nepal?&nbsp;</strong></p>
<p>
	This is not a special visit, I have come to see Allen (Allen Bailochan Tuladhar) and Microsoft Innovation Centre (MIC) in Kathmandu. We have more than one hundred MICs around the world and the Kathmandu centre, headed by Allen, is one of the strongest. We have opened 19 MICs in India and I am talking to the people working there. We have just organized MIC summit in Bangalore. We are also planning for a new MIC in Nepal too.</p>
<p>
	<strong>How is Microsoft performing here, in Nepal?</strong></p>
<p>
	It’s doing very well. My focus is entirely on the start-ups, students and entrepreneurs. Therefore, I don’t know exactly about the sales and other areas. &nbsp;We are reaching a significant number of students and have collected significant number of facts in their employability. With programmes like Microsoft Student Partners, Microsoft Virtual Academy and the IT Academy, which actually helps with the certification of their qualifications, we are reaching to them. We are very pleased with the programme and its progress.&nbsp;</p>
<p>
	<strong>Many people in South Asia and developing countries use pirated Windows operating system or other software because of its cheap price. What is your take on this?&nbsp;</strong></p>
<p>
	Piracy is the practical issue. Pirated software is not worth paying for because it does not come with the extra support that we provide. On the other hand, the cost of software has gone down dramatically. We do want to deal with the piracy, it’s illegal. We do want to get revenue from our products. But we don’t think piracy is our primary problem. Ultimately, people will go for the quality software.</p>
<p>
	<strong>What strategies has Microsoft been putting in action to solve the piracy problem?&nbsp;</strong></p>
<p>
	That is not my area of focus. I focus on making sure that the people who need the software, get it. These are the people who are in school or in universities or who are looking for an assistance to set up their businesses. I make sure that they have access to it. We give our software to developers without any cost for three years. Many of the small companies fail. Therefore, we don’t want to be the reason behind their failure because of the high cost of the software. &nbsp;When they succeed, they pay a good premium to our software. It’s a good investment.&nbsp;</p>
<p>
	<strong>Has your business improved here after the development of Unicode Nepali software?&nbsp;</strong></p>
<p>
	I don’t know much about it, but Microsoft believes that language projects help to boost the sales of software. Inclusion is a good business.</p>
<p>
	<strong>Where is Microsoft in the competition of mobile OS among Android, Apple, Simbion and Blackberry?</strong></p>
<p>
	We are number two in India. But worldwide Android is the volume leader, Apple has the profitability and Microsoft had a late entrance to the market. But we have a long history of endurance, which is supported by the best technology in the world. There are very few companies in the world that have had more than one major product success. Microsoft had two or probably three successful products: Windows, Office and the game console X-box.&nbsp;</p>
<p>
	<strong>You are running various non-profit activities in Nepal like distribution of software to students, language development etc., is it your CSR or business enhancement strategy?&nbsp;</strong></p>
<p>
	It’s not non-profit. I don’t think we do anything non-profit. It should be for profit . Our relationship with the start-ups is based on both direct and indirect value to Microsoft. The indirect value to Microsoft is that, as economies grow, we grow. If you have a good boat and the water level is going up, you both are going up. So we are very interested in building good relationships with universities, which is where the talents come from. We want good talents. That engagement with the students and start-ups is vital for us. In this course we make sure that the students have access to our technology with very advantageous prices or for free. In the long run, they are going to be our customers. There is a balance of altruism and profit-motive. And I think that is the right thing for the business.&nbsp;</p>
<p>
	<strong>How do you track the young talents?&nbsp;</strong></p>
<p>
	We often work with the universities. We run Microsoft Student Partners (MSP) programs in various universities. The students who are interested in technology can apply for MSP. We accept the eligible students and train them for free. They often end up being evangelists . They often teach their class and earn some respect from their fellow students. We hire some of them. We also take some help from these young energetic people to improve our technologies.&nbsp;</p>
<p>
	Programs like IT Academy, Microsoft Virtual Academy, MIC etc., inspire students to develop something new. MVA provides the training materials online. We help young students to become entrepreneurs and IT professionals.&nbsp;</p>
<p>
	<strong>What is your success-mantra to those young aspiring entrepreneurs who face &nbsp;constraints financing their business?&nbsp;</strong></p>
<p>
	I would say money is not the primary problem. It was so a decade ago but the situation has changed a lot. There are new elements that make a successful start-up. First, and the obvious, is the Internet. It reached to almost anybody with almost zero friction and zero cost. It means that market, technology and customers are accessible. Promotion is less expensive. Because of social networking, you will get the customers without employing the sales force. And then the technology itself has got incredibly powerful. Now, it takes lot less codes and fewer tools. The tools you need are freely available. It has helped to narrow down the gap between the idea and the successful market. &nbsp;To get a big business idea is hard but your ability as an entrepreneur to develop a program, to get your first consumer, to improve it, to refine it and to market it will not be spoiled by the cost. The cost is just plummeted. So my advice is not to focus on finances but to get the viable product in the hands of your customer. If you can do that, then you can go to the investor. Investors are always ready to finance &nbsp;good ideas and products.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Cliff Reeves, General Manager of Microsoft Corp. for Strategic & Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre.',
			'description' => 'Cliff Reeves, General Manager of Microsoft Corp. for Strategic & Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre.',
			'sortorder' => '890',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '1014',
			'article_category_id' => '31',
			'title' => '‘We Ensure The Optimum Operational Conditions Of Our Products’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><img alt="Seung Woo Lee, Visiting Business People" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/visiting_business_people_may2013_seung_woo(1).jpg" style="float:left; margin:0 10px 0 0;" /><br />
	</strong></p>
<p>
	<strong>Seung Woo Lee is the General Manager, Sales and Marketing of Hyundai Construction Equipment India Pvt Ltd, one of the fastest growing manufacturers of excavators in India and in the world. In the last year, Hyundai sold 2034 units of excavator and captured a market share of 14 per cent in the Indian excavator market and consolidated its position at number three. It is also eying Nepali market. Recently, Seung was in Nepal and Siromani Dhungana of New Business Age talked to him regarding business prospects of Hyundai in Nepal.&nbsp;</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">What was the purpose of your visit to Nepal?</strong></p>
<p>
	We are here for launching our products, 22Ton class excavator series. We are launching two excavators, which are Robex220LC-7 and Robex220LC-9s, both manufactured in India. We take this occasion as a chance to interact with our local customers and to provide better service to them.</p>
<p>
	<strong>What are the products you are currently supplying to Nepal?</strong></p>
<p>
	We are currently supplying 14-20ton crawling excavators. That is the category of machines, with its the operating weight.&nbsp;</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	There is a big demand for our products in big projects, like hydropower and road constructions. Though such projects are very low in number in Nepal now, the number and speed of the projects will be higher &nbsp;after some time. &nbsp;May be it won’t take a long time to see the boom in the market.</p>
<p>
	<strong>Why should consumers choose your products?</strong></p>
<p>
	We focus in better technology, services and operating costs. We have focused in these things both in our previous products and in the new ones. There are various sides and factors in which we have evolved and enhanced ourselves better. We also have improved &nbsp;in after sale services and spare parts. We ensure the optimum operation conditions throughout its lifetime, with higher liability and lesser fuel consumption.</p>
<p>
	<strong>How do you see the South Asian market?</strong></p>
<p>
	Developing countries &nbsp;have always been a priority for our business, and South Asian countries have a lot of opportunity, being their markets vital for us. The economic effect of the problem in European countries, which started in 2008, had affected South Asian countries including India, which accounts for a big portion in construction market.&nbsp;</p>
<p>
	<strong>What is the level of competition you face in Nepal? Are you satisfied with it?</strong></p>
<p>
	It’s fierce. Every single machine should count on. In terms of overall market size, it has significantly decreased at this moment and I really cannot say the exact number. The positive side is that we are maintaining ourselves. The relationship with our customers, our support to them in after sale services and spare parts with our dealer CSPL here is good.&nbsp;</p>
<p>
	<strong>How do your products help your customers to enhance their business and revenue?</strong></p>
<p>
	We focus on efficiency of our products. In the long run, the operating cost, the fuel efficiency and after sales services matter most to the customers. So we try to lower the maintenance cost by accommodating long life hydraulic and filters.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'We Ensure The Optimum Operational Conditions Of Our Products, Seung Woo Lee',
			'description' => 'Seung Woo Lee is the General Manager, Sales and Marketing of Hyundai Construction Equipment India Pvt Ltd, one of the fastest growing manufacturers of excavators in India and in the world.',
			'sortorder' => '889',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '1013',
			'article_category_id' => '31',
			'title' => '‘Android Smartphones Democratise The Market’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><img alt="De Finbarr Moynihan, Visiting business people" height="283" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/visiting_business_people_may2013_finbarr(1).jpg" style="float:left;margin:0 10px 0 0;" width="250" /><strong>Dr Finbarr Moynihan is General Manager, Corporate Business Development for MediaTek. In this role, he manages MediaTek’s global customer, partner and operator relationships. Prior to this, he was Director of Product Marketing for MediaTek’s Smartphone Business Unit – based in Hsinchu, Taiwan. &nbsp;During his recent visit to Nepal, Bijaya Giri of New Business Age talked to him regarding market prospects of MediaTek in Nepal.</strong></span></p>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">What is the purpose of your visit to Nepal?</strong></p>
<p>
	Our partner here, Teletalk, is announcing a range of products. We are here for the launching tablets and phablet devices based on our chipsets. Like other markets, we highly value Nepali market and local brands.</p>
<p>
	<strong>Can you briefly tell us about your products?</strong></p>
<p>
	We mainly focus on big digital consumer markets – feature phones, smart phones, tablets, DTV, DVD, Set-top boxes and digital home platforms. We also centre our attention on things like WiFi routers and access points. &nbsp;We ship roughly 500-550 million chipset of mobile every year. We are in the mobile market since 2004, however we are still relatively new in the smart phone market – we started shipping 3G smart phone chipsets during the second half of 2011. &nbsp;</p>
<p>
	<strong>What are the products you are currently supplying in Nepal?</strong></p>
<p>
	We mostly supply for our local partners here, like Teletalk. Colors mobile, as a local brand, uses our chipset. We mainly supply chipsets and solutions for feature phones - 2G Bar phones, low-cost android phones to higher-performance 4-5 inch phablet phones, which uses quad-core chipsets for higher performances. We also supply chipsets for 3G Data Cards.</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	Like other markets, we have highly valued the Nepali market and local brands. We don’t make phones, but try to enable our customers and local brand partners, like Colors Mobile, to do so as easily as possible. &nbsp;The adoption of smart phones by the Nepali market is increasing and that is important for us. The emergence of Android smart phones democratise the market, which is heavily occupied by major technological giants. We believe that the consumer adoption of these smart phones, with access to data services, social networks and other varied applications, will continue to have beneficial effects for the societies that adopt them.</p>
<p>
	<strong>Why should consumers choose your products?</strong></p>
<p>
	Because of the way we approach the market and we plan. We supply the chip but what we deliver to the customer is much more than that. We don’t make the final products but we deliver complete software solutions along with the chipsets. The products our partner delivers, at cost effective prices, are not lower in comparison with high end devices. For good user experience, the power consumption, battery life and multimedia experience fulfil the consumers’ expectations.&nbsp;</p>
<p>
	<strong>How do you see the South Asian market?</strong></p>
<p>
	It’s been very important for us. For many years it’s been our major market for the 2G feature phone. The market effect we saw last year in China is now happening in the South Asian market. This means more tablets and more convergence from 2G to 3G. This trend is not going to stop and that’s why we are excited and focused on that. &nbsp;</p>
<p>
	<strong>What is the level of competition you face in Nepal?</strong></p>
<p>
	The competition in mobile space is always tough. Different brands, different chipset suppliers and so many other factors drive the market. This year, the &nbsp;sales volume of smart phones, as we expected, has been increasing so far in Nepal. The global competition in the smartphone segment is huge and tough for each major or minor player. You have to deliver better, faster and more affordable products to the consumer in order to be able to sustain yourself in the market. That’s part of life in this business.</p>
<p>
	<strong>What are your future strategies?</strong></p>
<p>
	We are focusing on 3G and 4G high performing technologies, including smart phones and devices for emerging markets like Nepal. &nbsp;We are also centred on more affordable Data Cards.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => '‘Android Smartphones Democratise The Market’, Dr Finbarr Moynihan',
			'description' => 'Dr Finbarr Moynihan is General Manager, Corporate Business Development for MediaTek. In this role, he manages MediaTek’s global customer, partner and operator relationships.',
			'sortorder' => '888',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '1012',
			'article_category_id' => '37',
			'title' => 'Can Nepal Achieve 7 Per Cent  Economic Growth Rate?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The Nepali economy has not been doing well for the past many years. According to Nepal Rastra Bank (NRB), the country’s economic growth rate has remained sluggish for the past many years, mainly because of the decade-long conflict and political instability. In the period from FY 2001/02 to 2011/12, Nepal’s GDP growth rate has crossed the five percent mark only once (in FY 2007/08 when the growth rate was 6.10 per cent), according to the Central Department of Statistics. However, Nepal’s highest GDP growth rate so far was recorded in FY 1994/95, a year before the Maoist insurgency started in Nepal. Almost all economists and development experts agree that Nepal’s economic performance will not improve unless there is political stability.&nbsp;</span></p>
<p>
	We find that the economic growth rate increases when the agricultural growth rate is high (agriculture contributes to more than one-third of Nepal’s GDP). However, the growth in agriculture is dependent on monsoon rains; it is high when the country receives a good rainfall and low when the rainfall is low. The projected economic growth rate for the current fiscal year 2012/13 has already been revised twice – first from 5 per cent to 4.1 and then to 3.5 most recently. This means Nepal will have to double its current economic growth rate if it is to achieve a healthy growth rate of 7 per cent. That is clearly a tall order.&nbsp;</p>
<p>
	However, is that an impossible target for Nepal? Or can the country really achieve this target? If it can, how and through what measures? We asked these questions to a number of economists and development experts. Their responses are given below:&nbsp;</p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1011">‘Focus on agriculture and industrialisation’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1010" style="font-size: 12px;">‘Political stability&nbsp;<span style="font-size: 12px;">is a must’&nbsp;</span></a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1009">‘Seven percent growth rate possible’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1008">‘Need for political consensus on fundamental issues of development’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1007">‘Nepal has the potential to achieve 7% growth rate’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1006">‘Focus on tourism, productivity and exports’</a></p>
<p>
	<strong style="font-size: 12px;"><br />
	</strong></p>
<p>
	<strong style="font-size: 12px;">Economic Prospects</strong></p>
<p>
	<span style="font-size: 12px;">The economic outlook for Nepal hinges on how political uncertainties are resolved, the weather, and remittance inflows. Investor confidence is depressed by concerns over the political transition, now in its fifth year, following the dissolution in May 2012 of the Constituent Assembly, which failed to agree on a constitution. Recently, the political parties agreed to form a caretaker government led by the Chief Justice, which is expected to hold a Constituent Assembly election by 21 June 2013.</span></p>
<p>
	In view of the unfavorable monsoon, the shortage of fertilizers during the peak paddy planting season, low business confidence, the lack of a parliamentary-approved full budget, and subdued growth in India, GDP is projected to slow to 3.5% in FY2013. Production of paddy is projected to fall by 11.3%, maize by 8%, and millet by 2%. The lack of a full budget is causing funding shortages for ongoing development activities. While the industry sector performance is expected to remain weak, services growth is expected to continue to grow at around 5.4%. With a favorable monsoon, adequate fertilizer supplies, the timely adoption of a budget, and moderate expansion of remittances, GDP growth would rebound to 4.2% in FY2014.</p>
<p>
	<img alt="Annual GDP growth rate" height="319" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/economy_and_policy_may2013_annual_gdp.jpg" style="margin:0 10px 0 0;" width="595" /></p>
<p>
	(Source: Asian Development Outlook 2013)</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Can Nepal Achieve 7 Per Cent  Economic Growth Rate?',
			'description' => 'The Nepali economy has not been doing well for the past many years. According to Nepal Rastra Bank (NRB), the country’s economic growth rate has remained sluggish for the past many years, mainly because of the decade-long conflict and political instability.',
			'sortorder' => '887',
			'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' => '1011',
			'article_category_id' => '37',
			'title' => '‘Focus On Agriculture And Industrialisation’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Focus on agriculture and industrialisation’</p>
<p>
	Nepal cannot achieve a healthy economic growth rate so long as there are political instability, labour problems and low production in the country. Nepal witnessed economic stability in FY 1994-95 and that was for very short period of time. The agriculture sector could help to increase the country’s economic growth rate but the government has not been able to make enough investment in this sector. We must be able to commercialise our agricultural sector by introducing modern technologies in our traditional farming system. Simultaneously, we should also focus on industrial development which is the backbone for the development of any country in this age. &nbsp;</p>
<address>
	<strong>Himalaya Shamsher JBR</strong></address>
<address>
	<strong>First NRB Governor&nbsp;</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Focus on agriculture and industrialisation',
			'description' => 'Nepal cannot achieve a healthy economic growth rate so long as there are political instability, labour problems and low production in the country. Nepal witnessed economic stability in FY 1994-95 and that was for very short period of time.',
			'sortorder' => '886',
			'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' => '1010',
			'article_category_id' => '37',
			'title' => '‘Political Stability Is A Must’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	<span style="font-size: 12px;">‘Political stability is a must’</span></p>
<p>
	For a rapid economic growth, we need proper plans, policies and programmes. However, we cannot expect a robust economic growth rate unless we have political stability in the country. Political stability is a must. Similarly, we need to substantially increase the investment in the agriculture sector and make concerted efforts to modernize it. The services sector in Nepal has good prospects. A sustained growth in this sector, too, can help Nepal achieve a healthy economic growth rate. So, we must focus on agro-processing industries and on the development of new software technologies. Similarly, we must be able to use the ever increasing remittance inflows in a more productive manner if we are to achieve a growth rate of seven percent or more.&nbsp;</p>
<address>
	<strong>Dr Narayan Khadka</strong></address>
<address>
	<strong>Former Vice-chairman</strong></address>
<address>
	<strong>National Planning Commission</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Political stability is a must',
			'description' => 'For a rapid economic growth, we need proper plans, policies and programmes. However, we cannot expect a robust economic growth rate unless we have political stability in the country.',
			'sortorder' => '885',
			'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' => '1009',
			'article_category_id' => '37',
			'title' => '‘Seven Percent Growth Rate Possible’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Seven percent growth rate possible’</p>
<p>
	<span style="font-size: 12px;">Nepal’s economy has every possibility to grow by 7 per cent in the next fiscal provided that there is political stability in the country and the government makes policy changes to encourage the private sector.</span><span style="font-size: 12px;">The government should focus on providing a stable policy environment, integrating growth of the industrial and service sector and making investments in domestic production to displace imports.</span><span style="font-size: 12px;">Similarly, there is a need to boost our agricultural production. However, we should be able to create markets for our agricultural products.&nbsp;</span></p>
<address>
	<strong>Dr Posh Raj Pandey</strong></address>
<address>
	<strong>Executive Chairman</strong></address>
<address>
	<strong>South Asian Watch on Trade, Economics and Environment (SAWTEE)</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Seven percent growth rate possible',
			'description' => 'Nepal’s economy has every possibility to grow by 7 per cent in the next fiscal provided that there is political stability in the country and the government makes policy changes to encourage the private sector.',
			'sortorder' => '884',
			'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' => '1008',
			'article_category_id' => '37',
			'title' => '‘Need For Political Consensus On Fundamental Issues Of Development’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Need For Political Consensus On Fundamental Issues Of Development’</p>
<p>
	<span style="font-size: 12px;">Nepal needs a growth rate of around 4-5 per cent in the agriculture sector and 9-10 per cent in other sectors if the country’s GDP is to grow by around 7 per cent. Development is basically a political process.&nbsp;</span><span style="font-size: 12px;">Therefore, it is crucial that the major political parties reach a consensus on the fundamental issues of development. Liberalisation is needed for the growth of organised industrial trade and business.&nbsp;</span><span style="font-size: 12px;">We also need to enhance our productivity and introduce modern technologies to our agriculture sector.</span></p>
<address>
	<strong>Dr Badri Prasad Shrestha</strong></address>
<address>
	<strong>Former Finance Minister</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Need For Political Consensus on Fundamental Issues of Development',
			'description' => 'Nepal needs a growth rate of around 4-5 per cent in the agriculture sector and 9-10 per cent in other sectors if the country’s GDP is to grow by around 7 per cent. Development is basically a political process.',
			'sortorder' => '883',
			'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' => '1007',
			'article_category_id' => '37',
			'title' => '‘Nepal Has The Potential To Achieve 7% Growth Rate’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Nepal has the potential to achieve 7% growth rate’</p>
<p>
	<span style="font-size: 12px;">Nepal actually does have the potential to achieve a seven percent economic growth rate or more, like our two immediate neighbours – India and China. But in the present situation of political instability and uncertainty, it seems an almost impossible target. The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in the current fiscal year.&nbsp;</span></p>
<p>
	We must focus on our major sectors such as agriculture, tourism, water resource etc if we are to attain speedy economic growth. We must increase our domestic production significantly if we are to achieve such a high growth rate. Increased domestic production will not only help reduce the ever-rising imports of several products but will also help us earn foreign currency by increased exports. Likewise, we must also be able to develop our education, health and social sectors.&nbsp;</p>
<p>
	Finally, the government should create an investment-friendly environment by introducing matching policies and ensuring the security of investment – foreign as well as domestic.&nbsp;</p>
<address>
	<strong>Narayanraj Tiwari</strong></address>
<address>
	<strong>Former Finance Secretary</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Nepal Has The Potential To Achieve 7% Growth Rate',
			'description' => 'Nepal actually does have the potential to achieve a seven percent economic growth rate or more, like our two immediate neighbours – India and China.',
			'sortorder' => '882',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '1006',
			'article_category_id' => '37',
			'title' => '‘Focus On Tourism, Productivity And Exports’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Focus On Tourism, Productivity And Exports’</p>
<p>
	<span style="font-size: 12px;">Nepal has the prospects for large-scale investment. Foreign investment is important for the development of sectors such as hydropower, tourism, transport, railway, agriculture and other bigger projects. We need to speedily develop bigger hydropower projects to address the energy crisis. Without tackling the energy crisis, we cannot really expect a healthy economic growth rate. Both the public and the private sectors should invest to increase production. We also need rapid industrialization which will create new employment opportunities. Nepal has tremendous possibilities of tourism development. Nepal should basically target Chinese and Indian tourists. In the last fiscal year, more than 10 million Chinese and Indian tourists went for outbound travel. If we can attract only 10 per cent of it, we will have one million more tourists. Nepal should make serious attempts to achieve this. Nepal should make long-term strategies to reduce imports and increase exports by increasing the domestic production of goods and services. Nepal should focus on increasing the export of commodities like, carpet, herbs, ginger, tea and Pashmina, among others.</span></p>
<div>
	<address>
		<strong>Jaya Mukunda Khanal&nbsp;</strong></address>
	<address>
		<strong>Secretary</strong></address>
	<address>
		<strong>Ministry of Agriculture Development</strong></address>
</div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Focus On Tourism, Productivity And Exports',
			'description' => 'Nepal has the prospects for large-scale investment. Foreign investment is important for the development of sectors such as hydropower, tourism, transport, railway, agriculture and other bigger projects. We need to speedily develop bigger hydropower projects to address the energy crisis.',
			'sortorder' => '881',
			'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' => '1005',
			'article_category_id' => '85',
			'title' => 'Gold Plunges As Fears Over Inflation Fade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation. Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.The reversal comes as investors are grappling with signs the global economic expansion that began in 2009 is slowing.</span></p>
<p>
	The prices of industrial commodities ranging from copper to crude oil tumbled Monday, following news of softer-than-expected economic growth and industrial output in China. Adding to the gloom, the Federal Reserve Bank of New York issued a report showing manufacturing in the region barely expanding. The Dow Jones Industrial Average marked its worst one-day point decline since Nov. 7, 2012, dropping 265.86 points, or 1.8%, to 14599.20. Declines in commodity-linked sectors such as mining and energy led the selloff, with Freeport-McMoRan Copper &amp; Gold Inc. dropping 8.3%.</p>
<p>
	The market selloff continued in early trading Tuesday in Asia, with Japan down 1.3%, Korea down 0.5% and Australia down 0.8%. Gold also traded lower on the Tokyo Commodity Exchange, triggering circuit breakers because of steep price drops.</p>
<p>
	After posting 12 consecutive annual price rises, gaining more than 500% over that span, gold is suddenly being shunned by investors who once saw it as a way to generate outsize returns without the volatility and uneven performance in the stock, bond and real-estate markets.</p>
<p>
	The gold rout stemmed partly from worries Cyprus and perhaps other nations may become sellers of the precious metal. Other price drags cited by traders included a sale recommendation on gold last week fromGoldman Sachs Group Inc., and a growing view that stocks are better investments, due to continuing low inflation.</p>
<p>
	"Forced selling" by investors holding gold was also among the reasons stock and commodity markets tumbled Monday, said John Brynjolfsson, who runs the $1 billion hedge fund Armored Wolf LLC. Investors. After markets closed Monday, CME Group Inc., which operates the Comex gold market, increased the sums investors must pledge in order to trade gold futures. Exchange operators often raise so-called margin requirements at times of large market swings.</p>
<p>
	Gold's capitulation has been months in the making. The price hit a recent high in October and has been in decline since. Over the past six years, central banks in the U.S. and Europe have printed extraordinary amounts of their currencies in an effort to resuscitate the world economy. Every new round of "quantitative easing," as it has been dubbed, was accompanied by loud warnings that the inevitable result of this easy money would be a surge of inflation.&nbsp;</p>
<p>
	 </p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Gold Plunges As Fears Over Inflation Fade, Global Biz Trends, New Business Age',
			'description' => 'Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation.',
			'sortorder' => '880',
			'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
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
Code Context
  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '1019',
			'article_category_id' => '60',
			'title' => 'Dragonair’s New Uniform',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Dragonair has announced the rollout of the airline’s new uniform to more than 3,000 customer-facing staff across its network. The change would be effective from March 28, 2013. A launching event was hosted by Dragonair Chairman, John Slosar, and Chief Executive Officer, Patrick Yeung, along with the uniform’s designer, Eddie Lau. &nbsp;</p>
<p>
	Dragonair has seen three uniform changes since its establishment in 1985, with the last design being employed for more than 13 years. Staff and passengers were also involved throughout the 18-month uniform development process. A series of staff surveys, consultations, prototype presentations, wearer trial and focus groups with Marco Polo Club members were conducted to collect a wide variety of views and opinions before the design of the new uniform was finalized, informed the airline.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'Dragonair’s New Uniform, Civil Aviation',
			'description' => 'Dragonair has announced the rollout of the airline’s new uniform to more than 3,000 customer-facing staff across its network. The change would be effective from March 28, 2013.',
			'sortorder' => '894',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '1018',
			'article_category_id' => '60',
			'title' => 'China Southern To Start Guangzhou-Moscow Flights',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	The airline is going to start three Guangzhou-Moscow flights a week with its luxury wide body aircraft in June 19, 2013. &nbsp;According to a press release from the airline, A330-200 is an advanced wide bodied double aisle passenger aircraft manufactured by Airbus, with long cruise and load capacity. The aircraft is equipped with 4 luxurious first class private suites, 24 business class flat bed seats, 48 premium economy class and 148 economy class seats which will ensure a more comfortable experience on the long journey.&nbsp;</p>
<p>
	Moreover, the passengers can now connect their flight from Moscow to Iceland, St Petersburg, Helsinki, Warsaw, Denmark and Stockholm. Moreover, the airline is operating many international flights to different destinations. In Australia, the cities where the company flies are Sydney, Melbourne, Brisbane and Perth. Customers also can fly to New Zealand, since the airline operates flights to Auckland. Destinations in Europe include London, Amsterdam and Paris. Los Angeles and Vancouver are the cities where customers can fly to within North America. Other destinations in Asia include Japan, Korea, Philippines, Thailand, Singapore and Hong Kong.</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'China Southern to Start Guangzhou-Moscow Flights',
			'description' => 'The airline is going to start three Guangzhou-Moscow flights a week with its luxury wide body aircraft in June 19, 2013.',
			'sortorder' => '893',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '1017',
			'article_category_id' => '60',
			'title' => 'Etihad Moves To Uttardhoka',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Etihad Airways, the national airline of the UAE, has moved offices from its previous location in the Yak and Yeti Hotel in Durbarmarg to Metro Park in the Uttardhoka. The shift to the new location was made on April 1. According to the airline, the move aims to provide employees and visitors with more comfortable and luxurious facilities and surroundings.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'Etihad Moves to Uttardhoka, Civil Aviation',
			'description' => 'Etihad Airways, the national airline of the UAE, has moved offices from its previous location in the Yak and Yeti Hotel in Durbarmarg to Metro Park in the Uttardhoka.',
			'sortorder' => '892',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '1016',
			'article_category_id' => '60',
			'title' => 'Grounded NAC Aircraft To Resume Flights Within Three Months: Tourism Minister',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Nepal Airlines Corporation (NAC) will be ready to start the flights of its grounded domestic aircrafts within three months, said Ram Kumar Shrestha, Minister for Culture, Tourism and Civil Aviation. He said so in a programme organized by tourism entrepreneurs from various parts of Nepal. &nbsp;In the programme, Shrestha stated that &nbsp;the flights will start after repairing the grounded aircrafts.&nbsp;</p>
<p>
	Although NAC has five aircrafts for domestic flights, only two aircrafts, 9N-ABO and ABT, are in operation. Three aircrafts, 9N ABB, ABU and ABX flights are still grounded. According to Shrestha, &nbsp;the aircrafts will be promptly repaired, with a cost of around Rs 160 million, and the NAC authorities will be directed to operate the flights soon.&nbsp;</p>
<p>
	He also said that If NAC isn’t able to start the flights within three months, the repaired aircrafts will be given to the private sector on lease, and the private sector will have to pay Rs 1 million per month and per aircraft.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Grounded NAC Aircraft To Resume Flights Within Three Months: Tourism Minister , Civil Aviation',
			'description' => 'Nepal Airlines Corporation (NAC) will be ready to start the flights of its grounded domestic aircrafts within three months, said Ram Kumar Shrestha, Minister for Culture, Tourism and Civil Aviation.',
			'sortorder' => '891',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '1015',
			'article_category_id' => '31',
			'title' => '‘We Don’t Do Anything Non-profit’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>Cliff Reeves, General Manager of Microsoft Corp. for Strategic &amp; Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre. He looks after the social side of the business and works with young students and business leaders from all over the world. In an interview with Modnath Dhakal,from New Business Age, Reeves shared his ideas and views on Microsoft products, software piracy and IT entrepreneurship.&nbsp;</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Excerpts:&nbsp;</strong></p>
<p>
	<strong style="font-size: 12px;">What is the purpose of your visit to Nepal?&nbsp;</strong></p>
<p>
	This is not a special visit, I have come to see Allen (Allen Bailochan Tuladhar) and Microsoft Innovation Centre (MIC) in Kathmandu. We have more than one hundred MICs around the world and the Kathmandu centre, headed by Allen, is one of the strongest. We have opened 19 MICs in India and I am talking to the people working there. We have just organized MIC summit in Bangalore. We are also planning for a new MIC in Nepal too.</p>
<p>
	<strong>How is Microsoft performing here, in Nepal?</strong></p>
<p>
	It’s doing very well. My focus is entirely on the start-ups, students and entrepreneurs. Therefore, I don’t know exactly about the sales and other areas. &nbsp;We are reaching a significant number of students and have collected significant number of facts in their employability. With programmes like Microsoft Student Partners, Microsoft Virtual Academy and the IT Academy, which actually helps with the certification of their qualifications, we are reaching to them. We are very pleased with the programme and its progress.&nbsp;</p>
<p>
	<strong>Many people in South Asia and developing countries use pirated Windows operating system or other software because of its cheap price. What is your take on this?&nbsp;</strong></p>
<p>
	Piracy is the practical issue. Pirated software is not worth paying for because it does not come with the extra support that we provide. On the other hand, the cost of software has gone down dramatically. We do want to deal with the piracy, it’s illegal. We do want to get revenue from our products. But we don’t think piracy is our primary problem. Ultimately, people will go for the quality software.</p>
<p>
	<strong>What strategies has Microsoft been putting in action to solve the piracy problem?&nbsp;</strong></p>
<p>
	That is not my area of focus. I focus on making sure that the people who need the software, get it. These are the people who are in school or in universities or who are looking for an assistance to set up their businesses. I make sure that they have access to it. We give our software to developers without any cost for three years. Many of the small companies fail. Therefore, we don’t want to be the reason behind their failure because of the high cost of the software. &nbsp;When they succeed, they pay a good premium to our software. It’s a good investment.&nbsp;</p>
<p>
	<strong>Has your business improved here after the development of Unicode Nepali software?&nbsp;</strong></p>
<p>
	I don’t know much about it, but Microsoft believes that language projects help to boost the sales of software. Inclusion is a good business.</p>
<p>
	<strong>Where is Microsoft in the competition of mobile OS among Android, Apple, Simbion and Blackberry?</strong></p>
<p>
	We are number two in India. But worldwide Android is the volume leader, Apple has the profitability and Microsoft had a late entrance to the market. But we have a long history of endurance, which is supported by the best technology in the world. There are very few companies in the world that have had more than one major product success. Microsoft had two or probably three successful products: Windows, Office and the game console X-box.&nbsp;</p>
<p>
	<strong>You are running various non-profit activities in Nepal like distribution of software to students, language development etc., is it your CSR or business enhancement strategy?&nbsp;</strong></p>
<p>
	It’s not non-profit. I don’t think we do anything non-profit. It should be for profit . Our relationship with the start-ups is based on both direct and indirect value to Microsoft. The indirect value to Microsoft is that, as economies grow, we grow. If you have a good boat and the water level is going up, you both are going up. So we are very interested in building good relationships with universities, which is where the talents come from. We want good talents. That engagement with the students and start-ups is vital for us. In this course we make sure that the students have access to our technology with very advantageous prices or for free. In the long run, they are going to be our customers. There is a balance of altruism and profit-motive. And I think that is the right thing for the business.&nbsp;</p>
<p>
	<strong>How do you track the young talents?&nbsp;</strong></p>
<p>
	We often work with the universities. We run Microsoft Student Partners (MSP) programs in various universities. The students who are interested in technology can apply for MSP. We accept the eligible students and train them for free. They often end up being evangelists . They often teach their class and earn some respect from their fellow students. We hire some of them. We also take some help from these young energetic people to improve our technologies.&nbsp;</p>
<p>
	Programs like IT Academy, Microsoft Virtual Academy, MIC etc., inspire students to develop something new. MVA provides the training materials online. We help young students to become entrepreneurs and IT professionals.&nbsp;</p>
<p>
	<strong>What is your success-mantra to those young aspiring entrepreneurs who face &nbsp;constraints financing their business?&nbsp;</strong></p>
<p>
	I would say money is not the primary problem. It was so a decade ago but the situation has changed a lot. There are new elements that make a successful start-up. First, and the obvious, is the Internet. It reached to almost anybody with almost zero friction and zero cost. It means that market, technology and customers are accessible. Promotion is less expensive. Because of social networking, you will get the customers without employing the sales force. And then the technology itself has got incredibly powerful. Now, it takes lot less codes and fewer tools. The tools you need are freely available. It has helped to narrow down the gap between the idea and the successful market. &nbsp;To get a big business idea is hard but your ability as an entrepreneur to develop a program, to get your first consumer, to improve it, to refine it and to market it will not be spoiled by the cost. The cost is just plummeted. So my advice is not to focus on finances but to get the viable product in the hands of your customer. If you can do that, then you can go to the investor. Investors are always ready to finance &nbsp;good ideas and products.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Cliff Reeves, General Manager of Microsoft Corp. for Strategic & Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre.',
			'description' => 'Cliff Reeves, General Manager of Microsoft Corp. for Strategic & Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre.',
			'sortorder' => '890',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '1014',
			'article_category_id' => '31',
			'title' => '‘We Ensure The Optimum Operational Conditions Of Our Products’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><img alt="Seung Woo Lee, Visiting Business People" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/visiting_business_people_may2013_seung_woo(1).jpg" style="float:left; margin:0 10px 0 0;" /><br />
	</strong></p>
<p>
	<strong>Seung Woo Lee is the General Manager, Sales and Marketing of Hyundai Construction Equipment India Pvt Ltd, one of the fastest growing manufacturers of excavators in India and in the world. In the last year, Hyundai sold 2034 units of excavator and captured a market share of 14 per cent in the Indian excavator market and consolidated its position at number three. It is also eying Nepali market. Recently, Seung was in Nepal and Siromani Dhungana of New Business Age talked to him regarding business prospects of Hyundai in Nepal.&nbsp;</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">What was the purpose of your visit to Nepal?</strong></p>
<p>
	We are here for launching our products, 22Ton class excavator series. We are launching two excavators, which are Robex220LC-7 and Robex220LC-9s, both manufactured in India. We take this occasion as a chance to interact with our local customers and to provide better service to them.</p>
<p>
	<strong>What are the products you are currently supplying to Nepal?</strong></p>
<p>
	We are currently supplying 14-20ton crawling excavators. That is the category of machines, with its the operating weight.&nbsp;</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	There is a big demand for our products in big projects, like hydropower and road constructions. Though such projects are very low in number in Nepal now, the number and speed of the projects will be higher &nbsp;after some time. &nbsp;May be it won’t take a long time to see the boom in the market.</p>
<p>
	<strong>Why should consumers choose your products?</strong></p>
<p>
	We focus in better technology, services and operating costs. We have focused in these things both in our previous products and in the new ones. There are various sides and factors in which we have evolved and enhanced ourselves better. We also have improved &nbsp;in after sale services and spare parts. We ensure the optimum operation conditions throughout its lifetime, with higher liability and lesser fuel consumption.</p>
<p>
	<strong>How do you see the South Asian market?</strong></p>
<p>
	Developing countries &nbsp;have always been a priority for our business, and South Asian countries have a lot of opportunity, being their markets vital for us. The economic effect of the problem in European countries, which started in 2008, had affected South Asian countries including India, which accounts for a big portion in construction market.&nbsp;</p>
<p>
	<strong>What is the level of competition you face in Nepal? Are you satisfied with it?</strong></p>
<p>
	It’s fierce. Every single machine should count on. In terms of overall market size, it has significantly decreased at this moment and I really cannot say the exact number. The positive side is that we are maintaining ourselves. The relationship with our customers, our support to them in after sale services and spare parts with our dealer CSPL here is good.&nbsp;</p>
<p>
	<strong>How do your products help your customers to enhance their business and revenue?</strong></p>
<p>
	We focus on efficiency of our products. In the long run, the operating cost, the fuel efficiency and after sales services matter most to the customers. So we try to lower the maintenance cost by accommodating long life hydraulic and filters.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'We Ensure The Optimum Operational Conditions Of Our Products, Seung Woo Lee',
			'description' => 'Seung Woo Lee is the General Manager, Sales and Marketing of Hyundai Construction Equipment India Pvt Ltd, one of the fastest growing manufacturers of excavators in India and in the world.',
			'sortorder' => '889',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '1013',
			'article_category_id' => '31',
			'title' => '‘Android Smartphones Democratise The Market’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><img alt="De Finbarr Moynihan, Visiting business people" height="283" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/visiting_business_people_may2013_finbarr(1).jpg" style="float:left;margin:0 10px 0 0;" width="250" /><strong>Dr Finbarr Moynihan is General Manager, Corporate Business Development for MediaTek. In this role, he manages MediaTek’s global customer, partner and operator relationships. Prior to this, he was Director of Product Marketing for MediaTek’s Smartphone Business Unit – based in Hsinchu, Taiwan. &nbsp;During his recent visit to Nepal, Bijaya Giri of New Business Age talked to him regarding market prospects of MediaTek in Nepal.</strong></span></p>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">What is the purpose of your visit to Nepal?</strong></p>
<p>
	Our partner here, Teletalk, is announcing a range of products. We are here for the launching tablets and phablet devices based on our chipsets. Like other markets, we highly value Nepali market and local brands.</p>
<p>
	<strong>Can you briefly tell us about your products?</strong></p>
<p>
	We mainly focus on big digital consumer markets – feature phones, smart phones, tablets, DTV, DVD, Set-top boxes and digital home platforms. We also centre our attention on things like WiFi routers and access points. &nbsp;We ship roughly 500-550 million chipset of mobile every year. We are in the mobile market since 2004, however we are still relatively new in the smart phone market – we started shipping 3G smart phone chipsets during the second half of 2011. &nbsp;</p>
<p>
	<strong>What are the products you are currently supplying in Nepal?</strong></p>
<p>
	We mostly supply for our local partners here, like Teletalk. Colors mobile, as a local brand, uses our chipset. We mainly supply chipsets and solutions for feature phones - 2G Bar phones, low-cost android phones to higher-performance 4-5 inch phablet phones, which uses quad-core chipsets for higher performances. We also supply chipsets for 3G Data Cards.</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	Like other markets, we have highly valued the Nepali market and local brands. We don’t make phones, but try to enable our customers and local brand partners, like Colors Mobile, to do so as easily as possible. &nbsp;The adoption of smart phones by the Nepali market is increasing and that is important for us. The emergence of Android smart phones democratise the market, which is heavily occupied by major technological giants. We believe that the consumer adoption of these smart phones, with access to data services, social networks and other varied applications, will continue to have beneficial effects for the societies that adopt them.</p>
<p>
	<strong>Why should consumers choose your products?</strong></p>
<p>
	Because of the way we approach the market and we plan. We supply the chip but what we deliver to the customer is much more than that. We don’t make the final products but we deliver complete software solutions along with the chipsets. The products our partner delivers, at cost effective prices, are not lower in comparison with high end devices. For good user experience, the power consumption, battery life and multimedia experience fulfil the consumers’ expectations.&nbsp;</p>
<p>
	<strong>How do you see the South Asian market?</strong></p>
<p>
	It’s been very important for us. For many years it’s been our major market for the 2G feature phone. The market effect we saw last year in China is now happening in the South Asian market. This means more tablets and more convergence from 2G to 3G. This trend is not going to stop and that’s why we are excited and focused on that. &nbsp;</p>
<p>
	<strong>What is the level of competition you face in Nepal?</strong></p>
<p>
	The competition in mobile space is always tough. Different brands, different chipset suppliers and so many other factors drive the market. This year, the &nbsp;sales volume of smart phones, as we expected, has been increasing so far in Nepal. The global competition in the smartphone segment is huge and tough for each major or minor player. You have to deliver better, faster and more affordable products to the consumer in order to be able to sustain yourself in the market. That’s part of life in this business.</p>
<p>
	<strong>What are your future strategies?</strong></p>
<p>
	We are focusing on 3G and 4G high performing technologies, including smart phones and devices for emerging markets like Nepal. &nbsp;We are also centred on more affordable Data Cards.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => '‘Android Smartphones Democratise The Market’, Dr Finbarr Moynihan',
			'description' => 'Dr Finbarr Moynihan is General Manager, Corporate Business Development for MediaTek. In this role, he manages MediaTek’s global customer, partner and operator relationships.',
			'sortorder' => '888',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '1012',
			'article_category_id' => '37',
			'title' => 'Can Nepal Achieve 7 Per Cent  Economic Growth Rate?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The Nepali economy has not been doing well for the past many years. According to Nepal Rastra Bank (NRB), the country’s economic growth rate has remained sluggish for the past many years, mainly because of the decade-long conflict and political instability. In the period from FY 2001/02 to 2011/12, Nepal’s GDP growth rate has crossed the five percent mark only once (in FY 2007/08 when the growth rate was 6.10 per cent), according to the Central Department of Statistics. However, Nepal’s highest GDP growth rate so far was recorded in FY 1994/95, a year before the Maoist insurgency started in Nepal. Almost all economists and development experts agree that Nepal’s economic performance will not improve unless there is political stability.&nbsp;</span></p>
<p>
	We find that the economic growth rate increases when the agricultural growth rate is high (agriculture contributes to more than one-third of Nepal’s GDP). However, the growth in agriculture is dependent on monsoon rains; it is high when the country receives a good rainfall and low when the rainfall is low. The projected economic growth rate for the current fiscal year 2012/13 has already been revised twice – first from 5 per cent to 4.1 and then to 3.5 most recently. This means Nepal will have to double its current economic growth rate if it is to achieve a healthy growth rate of 7 per cent. That is clearly a tall order.&nbsp;</p>
<p>
	However, is that an impossible target for Nepal? Or can the country really achieve this target? If it can, how and through what measures? We asked these questions to a number of economists and development experts. Their responses are given below:&nbsp;</p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1011">‘Focus on agriculture and industrialisation’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1010" style="font-size: 12px;">‘Political stability&nbsp;<span style="font-size: 12px;">is a must’&nbsp;</span></a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1009">‘Seven percent growth rate possible’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1008">‘Need for political consensus on fundamental issues of development’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1007">‘Nepal has the potential to achieve 7% growth rate’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1006">‘Focus on tourism, productivity and exports’</a></p>
<p>
	<strong style="font-size: 12px;"><br />
	</strong></p>
<p>
	<strong style="font-size: 12px;">Economic Prospects</strong></p>
<p>
	<span style="font-size: 12px;">The economic outlook for Nepal hinges on how political uncertainties are resolved, the weather, and remittance inflows. Investor confidence is depressed by concerns over the political transition, now in its fifth year, following the dissolution in May 2012 of the Constituent Assembly, which failed to agree on a constitution. Recently, the political parties agreed to form a caretaker government led by the Chief Justice, which is expected to hold a Constituent Assembly election by 21 June 2013.</span></p>
<p>
	In view of the unfavorable monsoon, the shortage of fertilizers during the peak paddy planting season, low business confidence, the lack of a parliamentary-approved full budget, and subdued growth in India, GDP is projected to slow to 3.5% in FY2013. Production of paddy is projected to fall by 11.3%, maize by 8%, and millet by 2%. The lack of a full budget is causing funding shortages for ongoing development activities. While the industry sector performance is expected to remain weak, services growth is expected to continue to grow at around 5.4%. With a favorable monsoon, adequate fertilizer supplies, the timely adoption of a budget, and moderate expansion of remittances, GDP growth would rebound to 4.2% in FY2014.</p>
<p>
	<img alt="Annual GDP growth rate" height="319" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/economy_and_policy_may2013_annual_gdp.jpg" style="margin:0 10px 0 0;" width="595" /></p>
<p>
	(Source: Asian Development Outlook 2013)</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Can Nepal Achieve 7 Per Cent  Economic Growth Rate?',
			'description' => 'The Nepali economy has not been doing well for the past many years. According to Nepal Rastra Bank (NRB), the country’s economic growth rate has remained sluggish for the past many years, mainly because of the decade-long conflict and political instability.',
			'sortorder' => '887',
			'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' => '1011',
			'article_category_id' => '37',
			'title' => '‘Focus On Agriculture And Industrialisation’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Focus on agriculture and industrialisation’</p>
<p>
	Nepal cannot achieve a healthy economic growth rate so long as there are political instability, labour problems and low production in the country. Nepal witnessed economic stability in FY 1994-95 and that was for very short period of time. The agriculture sector could help to increase the country’s economic growth rate but the government has not been able to make enough investment in this sector. We must be able to commercialise our agricultural sector by introducing modern technologies in our traditional farming system. Simultaneously, we should also focus on industrial development which is the backbone for the development of any country in this age. &nbsp;</p>
<address>
	<strong>Himalaya Shamsher JBR</strong></address>
<address>
	<strong>First NRB Governor&nbsp;</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Focus on agriculture and industrialisation',
			'description' => 'Nepal cannot achieve a healthy economic growth rate so long as there are political instability, labour problems and low production in the country. Nepal witnessed economic stability in FY 1994-95 and that was for very short period of time.',
			'sortorder' => '886',
			'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' => '1010',
			'article_category_id' => '37',
			'title' => '‘Political Stability Is A Must’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	<span style="font-size: 12px;">‘Political stability is a must’</span></p>
<p>
	For a rapid economic growth, we need proper plans, policies and programmes. However, we cannot expect a robust economic growth rate unless we have political stability in the country. Political stability is a must. Similarly, we need to substantially increase the investment in the agriculture sector and make concerted efforts to modernize it. The services sector in Nepal has good prospects. A sustained growth in this sector, too, can help Nepal achieve a healthy economic growth rate. So, we must focus on agro-processing industries and on the development of new software technologies. Similarly, we must be able to use the ever increasing remittance inflows in a more productive manner if we are to achieve a growth rate of seven percent or more.&nbsp;</p>
<address>
	<strong>Dr Narayan Khadka</strong></address>
<address>
	<strong>Former Vice-chairman</strong></address>
<address>
	<strong>National Planning Commission</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Political stability is a must',
			'description' => 'For a rapid economic growth, we need proper plans, policies and programmes. However, we cannot expect a robust economic growth rate unless we have political stability in the country.',
			'sortorder' => '885',
			'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' => '1009',
			'article_category_id' => '37',
			'title' => '‘Seven Percent Growth Rate Possible’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Seven percent growth rate possible’</p>
<p>
	<span style="font-size: 12px;">Nepal’s economy has every possibility to grow by 7 per cent in the next fiscal provided that there is political stability in the country and the government makes policy changes to encourage the private sector.</span><span style="font-size: 12px;">The government should focus on providing a stable policy environment, integrating growth of the industrial and service sector and making investments in domestic production to displace imports.</span><span style="font-size: 12px;">Similarly, there is a need to boost our agricultural production. However, we should be able to create markets for our agricultural products.&nbsp;</span></p>
<address>
	<strong>Dr Posh Raj Pandey</strong></address>
<address>
	<strong>Executive Chairman</strong></address>
<address>
	<strong>South Asian Watch on Trade, Economics and Environment (SAWTEE)</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Seven percent growth rate possible',
			'description' => 'Nepal’s economy has every possibility to grow by 7 per cent in the next fiscal provided that there is political stability in the country and the government makes policy changes to encourage the private sector.',
			'sortorder' => '884',
			'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' => '1008',
			'article_category_id' => '37',
			'title' => '‘Need For Political Consensus On Fundamental Issues Of Development’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Need For Political Consensus On Fundamental Issues Of Development’</p>
<p>
	<span style="font-size: 12px;">Nepal needs a growth rate of around 4-5 per cent in the agriculture sector and 9-10 per cent in other sectors if the country’s GDP is to grow by around 7 per cent. Development is basically a political process.&nbsp;</span><span style="font-size: 12px;">Therefore, it is crucial that the major political parties reach a consensus on the fundamental issues of development. Liberalisation is needed for the growth of organised industrial trade and business.&nbsp;</span><span style="font-size: 12px;">We also need to enhance our productivity and introduce modern technologies to our agriculture sector.</span></p>
<address>
	<strong>Dr Badri Prasad Shrestha</strong></address>
<address>
	<strong>Former Finance Minister</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Need For Political Consensus on Fundamental Issues of Development',
			'description' => 'Nepal needs a growth rate of around 4-5 per cent in the agriculture sector and 9-10 per cent in other sectors if the country’s GDP is to grow by around 7 per cent. Development is basically a political process.',
			'sortorder' => '883',
			'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' => '1007',
			'article_category_id' => '37',
			'title' => '‘Nepal Has The Potential To Achieve 7% Growth Rate’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Nepal has the potential to achieve 7% growth rate’</p>
<p>
	<span style="font-size: 12px;">Nepal actually does have the potential to achieve a seven percent economic growth rate or more, like our two immediate neighbours – India and China. But in the present situation of political instability and uncertainty, it seems an almost impossible target. The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in the current fiscal year.&nbsp;</span></p>
<p>
	We must focus on our major sectors such as agriculture, tourism, water resource etc if we are to attain speedy economic growth. We must increase our domestic production significantly if we are to achieve such a high growth rate. Increased domestic production will not only help reduce the ever-rising imports of several products but will also help us earn foreign currency by increased exports. Likewise, we must also be able to develop our education, health and social sectors.&nbsp;</p>
<p>
	Finally, the government should create an investment-friendly environment by introducing matching policies and ensuring the security of investment – foreign as well as domestic.&nbsp;</p>
<address>
	<strong>Narayanraj Tiwari</strong></address>
<address>
	<strong>Former Finance Secretary</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Nepal Has The Potential To Achieve 7% Growth Rate',
			'description' => 'Nepal actually does have the potential to achieve a seven percent economic growth rate or more, like our two immediate neighbours – India and China.',
			'sortorder' => '882',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '1006',
			'article_category_id' => '37',
			'title' => '‘Focus On Tourism, Productivity And Exports’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Focus On Tourism, Productivity And Exports’</p>
<p>
	<span style="font-size: 12px;">Nepal has the prospects for large-scale investment. Foreign investment is important for the development of sectors such as hydropower, tourism, transport, railway, agriculture and other bigger projects. We need to speedily develop bigger hydropower projects to address the energy crisis. Without tackling the energy crisis, we cannot really expect a healthy economic growth rate. Both the public and the private sectors should invest to increase production. We also need rapid industrialization which will create new employment opportunities. Nepal has tremendous possibilities of tourism development. Nepal should basically target Chinese and Indian tourists. In the last fiscal year, more than 10 million Chinese and Indian tourists went for outbound travel. If we can attract only 10 per cent of it, we will have one million more tourists. Nepal should make serious attempts to achieve this. Nepal should make long-term strategies to reduce imports and increase exports by increasing the domestic production of goods and services. Nepal should focus on increasing the export of commodities like, carpet, herbs, ginger, tea and Pashmina, among others.</span></p>
<div>
	<address>
		<strong>Jaya Mukunda Khanal&nbsp;</strong></address>
	<address>
		<strong>Secretary</strong></address>
	<address>
		<strong>Ministry of Agriculture Development</strong></address>
</div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Focus On Tourism, Productivity And Exports',
			'description' => 'Nepal has the prospects for large-scale investment. Foreign investment is important for the development of sectors such as hydropower, tourism, transport, railway, agriculture and other bigger projects. We need to speedily develop bigger hydropower projects to address the energy crisis.',
			'sortorder' => '881',
			'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' => '1005',
			'article_category_id' => '85',
			'title' => 'Gold Plunges As Fears Over Inflation Fade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation. Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.The reversal comes as investors are grappling with signs the global economic expansion that began in 2009 is slowing.</span></p>
<p>
	The prices of industrial commodities ranging from copper to crude oil tumbled Monday, following news of softer-than-expected economic growth and industrial output in China. Adding to the gloom, the Federal Reserve Bank of New York issued a report showing manufacturing in the region barely expanding. The Dow Jones Industrial Average marked its worst one-day point decline since Nov. 7, 2012, dropping 265.86 points, or 1.8%, to 14599.20. Declines in commodity-linked sectors such as mining and energy led the selloff, with Freeport-McMoRan Copper &amp; Gold Inc. dropping 8.3%.</p>
<p>
	The market selloff continued in early trading Tuesday in Asia, with Japan down 1.3%, Korea down 0.5% and Australia down 0.8%. Gold also traded lower on the Tokyo Commodity Exchange, triggering circuit breakers because of steep price drops.</p>
<p>
	After posting 12 consecutive annual price rises, gaining more than 500% over that span, gold is suddenly being shunned by investors who once saw it as a way to generate outsize returns without the volatility and uneven performance in the stock, bond and real-estate markets.</p>
<p>
	The gold rout stemmed partly from worries Cyprus and perhaps other nations may become sellers of the precious metal. Other price drags cited by traders included a sale recommendation on gold last week fromGoldman Sachs Group Inc., and a growing view that stocks are better investments, due to continuing low inflation.</p>
<p>
	"Forced selling" by investors holding gold was also among the reasons stock and commodity markets tumbled Monday, said John Brynjolfsson, who runs the $1 billion hedge fund Armored Wolf LLC. Investors. After markets closed Monday, CME Group Inc., which operates the Comex gold market, increased the sums investors must pledge in order to trade gold futures. Exchange operators often raise so-called margin requirements at times of large market swings.</p>
<p>
	Gold's capitulation has been months in the making. The price hit a recent high in October and has been in decline since. Over the past six years, central banks in the U.S. and Europe have printed extraordinary amounts of their currencies in an effort to resuscitate the world economy. Every new round of "quantitative easing," as it has been dubbed, was accompanied by loud warnings that the inevitable result of this easy money would be a surge of inflation.&nbsp;</p>
<p>
	 </p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Gold Plunges As Fears Over Inflation Fade, Global Biz Trends, New Business Age',
			'description' => 'Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation.',
			'sortorder' => '880',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]
Code Context
  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '1019',
			'article_category_id' => '60',
			'title' => 'Dragonair’s New Uniform',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Dragonair has announced the rollout of the airline’s new uniform to more than 3,000 customer-facing staff across its network. The change would be effective from March 28, 2013. A launching event was hosted by Dragonair Chairman, John Slosar, and Chief Executive Officer, Patrick Yeung, along with the uniform’s designer, Eddie Lau. &nbsp;</p>
<p>
	Dragonair has seen three uniform changes since its establishment in 1985, with the last design being employed for more than 13 years. Staff and passengers were also involved throughout the 18-month uniform development process. A series of staff surveys, consultations, prototype presentations, wearer trial and focus groups with Marco Polo Club members were conducted to collect a wide variety of views and opinions before the design of the new uniform was finalized, informed the airline.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'Dragonair’s New Uniform, Civil Aviation',
			'description' => 'Dragonair has announced the rollout of the airline’s new uniform to more than 3,000 customer-facing staff across its network. The change would be effective from March 28, 2013.',
			'sortorder' => '894',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '1018',
			'article_category_id' => '60',
			'title' => 'China Southern To Start Guangzhou-Moscow Flights',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	The airline is going to start three Guangzhou-Moscow flights a week with its luxury wide body aircraft in June 19, 2013. &nbsp;According to a press release from the airline, A330-200 is an advanced wide bodied double aisle passenger aircraft manufactured by Airbus, with long cruise and load capacity. The aircraft is equipped with 4 luxurious first class private suites, 24 business class flat bed seats, 48 premium economy class and 148 economy class seats which will ensure a more comfortable experience on the long journey.&nbsp;</p>
<p>
	Moreover, the passengers can now connect their flight from Moscow to Iceland, St Petersburg, Helsinki, Warsaw, Denmark and Stockholm. Moreover, the airline is operating many international flights to different destinations. In Australia, the cities where the company flies are Sydney, Melbourne, Brisbane and Perth. Customers also can fly to New Zealand, since the airline operates flights to Auckland. Destinations in Europe include London, Amsterdam and Paris. Los Angeles and Vancouver are the cities where customers can fly to within North America. Other destinations in Asia include Japan, Korea, Philippines, Thailand, Singapore and Hong Kong.</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'China Southern to Start Guangzhou-Moscow Flights',
			'description' => 'The airline is going to start three Guangzhou-Moscow flights a week with its luxury wide body aircraft in June 19, 2013.',
			'sortorder' => '893',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '1017',
			'article_category_id' => '60',
			'title' => 'Etihad Moves To Uttardhoka',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Etihad Airways, the national airline of the UAE, has moved offices from its previous location in the Yak and Yeti Hotel in Durbarmarg to Metro Park in the Uttardhoka. The shift to the new location was made on April 1. According to the airline, the move aims to provide employees and visitors with more comfortable and luxurious facilities and surroundings.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '0000-00-00',
			'keywords' => 'Etihad Moves to Uttardhoka, Civil Aviation',
			'description' => 'Etihad Airways, the national airline of the UAE, has moved offices from its previous location in the Yak and Yeti Hotel in Durbarmarg to Metro Park in the Uttardhoka.',
			'sortorder' => '892',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '1016',
			'article_category_id' => '60',
			'title' => 'Grounded NAC Aircraft To Resume Flights Within Three Months: Tourism Minister',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	Nepal Airlines Corporation (NAC) will be ready to start the flights of its grounded domestic aircrafts within three months, said Ram Kumar Shrestha, Minister for Culture, Tourism and Civil Aviation. He said so in a programme organized by tourism entrepreneurs from various parts of Nepal. &nbsp;In the programme, Shrestha stated that &nbsp;the flights will start after repairing the grounded aircrafts.&nbsp;</p>
<p>
	Although NAC has five aircrafts for domestic flights, only two aircrafts, 9N-ABO and ABT, are in operation. Three aircrafts, 9N ABB, ABU and ABX flights are still grounded. According to Shrestha, &nbsp;the aircrafts will be promptly repaired, with a cost of around Rs 160 million, and the NAC authorities will be directed to operate the flights soon.&nbsp;</p>
<p>
	He also said that If NAC isn’t able to start the flights within three months, the repaired aircrafts will be given to the private sector on lease, and the private sector will have to pay Rs 1 million per month and per aircraft.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Grounded NAC Aircraft To Resume Flights Within Three Months: Tourism Minister , Civil Aviation',
			'description' => 'Nepal Airlines Corporation (NAC) will be ready to start the flights of its grounded domestic aircrafts within three months, said Ram Kumar Shrestha, Minister for Culture, Tourism and Civil Aviation.',
			'sortorder' => '891',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '1015',
			'article_category_id' => '31',
			'title' => '‘We Don’t Do Anything Non-profit’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>Cliff Reeves, General Manager of Microsoft Corp. for Strategic &amp; Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre. He looks after the social side of the business and works with young students and business leaders from all over the world. In an interview with Modnath Dhakal,from New Business Age, Reeves shared his ideas and views on Microsoft products, software piracy and IT entrepreneurship.&nbsp;</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Excerpts:&nbsp;</strong></p>
<p>
	<strong style="font-size: 12px;">What is the purpose of your visit to Nepal?&nbsp;</strong></p>
<p>
	This is not a special visit, I have come to see Allen (Allen Bailochan Tuladhar) and Microsoft Innovation Centre (MIC) in Kathmandu. We have more than one hundred MICs around the world and the Kathmandu centre, headed by Allen, is one of the strongest. We have opened 19 MICs in India and I am talking to the people working there. We have just organized MIC summit in Bangalore. We are also planning for a new MIC in Nepal too.</p>
<p>
	<strong>How is Microsoft performing here, in Nepal?</strong></p>
<p>
	It’s doing very well. My focus is entirely on the start-ups, students and entrepreneurs. Therefore, I don’t know exactly about the sales and other areas. &nbsp;We are reaching a significant number of students and have collected significant number of facts in their employability. With programmes like Microsoft Student Partners, Microsoft Virtual Academy and the IT Academy, which actually helps with the certification of their qualifications, we are reaching to them. We are very pleased with the programme and its progress.&nbsp;</p>
<p>
	<strong>Many people in South Asia and developing countries use pirated Windows operating system or other software because of its cheap price. What is your take on this?&nbsp;</strong></p>
<p>
	Piracy is the practical issue. Pirated software is not worth paying for because it does not come with the extra support that we provide. On the other hand, the cost of software has gone down dramatically. We do want to deal with the piracy, it’s illegal. We do want to get revenue from our products. But we don’t think piracy is our primary problem. Ultimately, people will go for the quality software.</p>
<p>
	<strong>What strategies has Microsoft been putting in action to solve the piracy problem?&nbsp;</strong></p>
<p>
	That is not my area of focus. I focus on making sure that the people who need the software, get it. These are the people who are in school or in universities or who are looking for an assistance to set up their businesses. I make sure that they have access to it. We give our software to developers without any cost for three years. Many of the small companies fail. Therefore, we don’t want to be the reason behind their failure because of the high cost of the software. &nbsp;When they succeed, they pay a good premium to our software. It’s a good investment.&nbsp;</p>
<p>
	<strong>Has your business improved here after the development of Unicode Nepali software?&nbsp;</strong></p>
<p>
	I don’t know much about it, but Microsoft believes that language projects help to boost the sales of software. Inclusion is a good business.</p>
<p>
	<strong>Where is Microsoft in the competition of mobile OS among Android, Apple, Simbion and Blackberry?</strong></p>
<p>
	We are number two in India. But worldwide Android is the volume leader, Apple has the profitability and Microsoft had a late entrance to the market. But we have a long history of endurance, which is supported by the best technology in the world. There are very few companies in the world that have had more than one major product success. Microsoft had two or probably three successful products: Windows, Office and the game console X-box.&nbsp;</p>
<p>
	<strong>You are running various non-profit activities in Nepal like distribution of software to students, language development etc., is it your CSR or business enhancement strategy?&nbsp;</strong></p>
<p>
	It’s not non-profit. I don’t think we do anything non-profit. It should be for profit . Our relationship with the start-ups is based on both direct and indirect value to Microsoft. The indirect value to Microsoft is that, as economies grow, we grow. If you have a good boat and the water level is going up, you both are going up. So we are very interested in building good relationships with universities, which is where the talents come from. We want good talents. That engagement with the students and start-ups is vital for us. In this course we make sure that the students have access to our technology with very advantageous prices or for free. In the long run, they are going to be our customers. There is a balance of altruism and profit-motive. And I think that is the right thing for the business.&nbsp;</p>
<p>
	<strong>How do you track the young talents?&nbsp;</strong></p>
<p>
	We often work with the universities. We run Microsoft Student Partners (MSP) programs in various universities. The students who are interested in technology can apply for MSP. We accept the eligible students and train them for free. They often end up being evangelists . They often teach their class and earn some respect from their fellow students. We hire some of them. We also take some help from these young energetic people to improve our technologies.&nbsp;</p>
<p>
	Programs like IT Academy, Microsoft Virtual Academy, MIC etc., inspire students to develop something new. MVA provides the training materials online. We help young students to become entrepreneurs and IT professionals.&nbsp;</p>
<p>
	<strong>What is your success-mantra to those young aspiring entrepreneurs who face &nbsp;constraints financing their business?&nbsp;</strong></p>
<p>
	I would say money is not the primary problem. It was so a decade ago but the situation has changed a lot. There are new elements that make a successful start-up. First, and the obvious, is the Internet. It reached to almost anybody with almost zero friction and zero cost. It means that market, technology and customers are accessible. Promotion is less expensive. Because of social networking, you will get the customers without employing the sales force. And then the technology itself has got incredibly powerful. Now, it takes lot less codes and fewer tools. The tools you need are freely available. It has helped to narrow down the gap between the idea and the successful market. &nbsp;To get a big business idea is hard but your ability as an entrepreneur to develop a program, to get your first consumer, to improve it, to refine it and to market it will not be spoiled by the cost. The cost is just plummeted. So my advice is not to focus on finances but to get the viable product in the hands of your customer. If you can do that, then you can go to the investor. Investors are always ready to finance &nbsp;good ideas and products.&nbsp;</p>
<div>
	 </div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Cliff Reeves, General Manager of Microsoft Corp. for Strategic & Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre.',
			'description' => 'Cliff Reeves, General Manager of Microsoft Corp. for Strategic & Emerging Business Team, was in Nepal recently to visit the Microsoft Innovation Centre.',
			'sortorder' => '890',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '1014',
			'article_category_id' => '31',
			'title' => '‘We Ensure The Optimum Operational Conditions Of Our Products’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><img alt="Seung Woo Lee, Visiting Business People" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/visiting_business_people_may2013_seung_woo(1).jpg" style="float:left; margin:0 10px 0 0;" /><br />
	</strong></p>
<p>
	<strong>Seung Woo Lee is the General Manager, Sales and Marketing of Hyundai Construction Equipment India Pvt Ltd, one of the fastest growing manufacturers of excavators in India and in the world. In the last year, Hyundai sold 2034 units of excavator and captured a market share of 14 per cent in the Indian excavator market and consolidated its position at number three. It is also eying Nepali market. Recently, Seung was in Nepal and Siromani Dhungana of New Business Age talked to him regarding business prospects of Hyundai in Nepal.&nbsp;</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong><br />
	</strong></p>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">What was the purpose of your visit to Nepal?</strong></p>
<p>
	We are here for launching our products, 22Ton class excavator series. We are launching two excavators, which are Robex220LC-7 and Robex220LC-9s, both manufactured in India. We take this occasion as a chance to interact with our local customers and to provide better service to them.</p>
<p>
	<strong>What are the products you are currently supplying to Nepal?</strong></p>
<p>
	We are currently supplying 14-20ton crawling excavators. That is the category of machines, with its the operating weight.&nbsp;</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	There is a big demand for our products in big projects, like hydropower and road constructions. Though such projects are very low in number in Nepal now, the number and speed of the projects will be higher &nbsp;after some time. &nbsp;May be it won’t take a long time to see the boom in the market.</p>
<p>
	<strong>Why should consumers choose your products?</strong></p>
<p>
	We focus in better technology, services and operating costs. We have focused in these things both in our previous products and in the new ones. There are various sides and factors in which we have evolved and enhanced ourselves better. We also have improved &nbsp;in after sale services and spare parts. We ensure the optimum operation conditions throughout its lifetime, with higher liability and lesser fuel consumption.</p>
<p>
	<strong>How do you see the South Asian market?</strong></p>
<p>
	Developing countries &nbsp;have always been a priority for our business, and South Asian countries have a lot of opportunity, being their markets vital for us. The economic effect of the problem in European countries, which started in 2008, had affected South Asian countries including India, which accounts for a big portion in construction market.&nbsp;</p>
<p>
	<strong>What is the level of competition you face in Nepal? Are you satisfied with it?</strong></p>
<p>
	It’s fierce. Every single machine should count on. In terms of overall market size, it has significantly decreased at this moment and I really cannot say the exact number. The positive side is that we are maintaining ourselves. The relationship with our customers, our support to them in after sale services and spare parts with our dealer CSPL here is good.&nbsp;</p>
<p>
	<strong>How do your products help your customers to enhance their business and revenue?</strong></p>
<p>
	We focus on efficiency of our products. In the long run, the operating cost, the fuel efficiency and after sales services matter most to the customers. So we try to lower the maintenance cost by accommodating long life hydraulic and filters.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'We Ensure The Optimum Operational Conditions Of Our Products, Seung Woo Lee',
			'description' => 'Seung Woo Lee is the General Manager, Sales and Marketing of Hyundai Construction Equipment India Pvt Ltd, one of the fastest growing manufacturers of excavators in India and in the world.',
			'sortorder' => '889',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '1013',
			'article_category_id' => '31',
			'title' => '‘Android Smartphones Democratise The Market’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><img alt="De Finbarr Moynihan, Visiting business people" height="283" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/visiting_business_people_may2013_finbarr(1).jpg" style="float:left;margin:0 10px 0 0;" width="250" /><strong>Dr Finbarr Moynihan is General Manager, Corporate Business Development for MediaTek. In this role, he manages MediaTek’s global customer, partner and operator relationships. Prior to this, he was Director of Product Marketing for MediaTek’s Smartphone Business Unit – based in Hsinchu, Taiwan. &nbsp;During his recent visit to Nepal, Bijaya Giri of New Business Age talked to him regarding market prospects of MediaTek in Nepal.</strong></span></p>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">What is the purpose of your visit to Nepal?</strong></p>
<p>
	Our partner here, Teletalk, is announcing a range of products. We are here for the launching tablets and phablet devices based on our chipsets. Like other markets, we highly value Nepali market and local brands.</p>
<p>
	<strong>Can you briefly tell us about your products?</strong></p>
<p>
	We mainly focus on big digital consumer markets – feature phones, smart phones, tablets, DTV, DVD, Set-top boxes and digital home platforms. We also centre our attention on things like WiFi routers and access points. &nbsp;We ship roughly 500-550 million chipset of mobile every year. We are in the mobile market since 2004, however we are still relatively new in the smart phone market – we started shipping 3G smart phone chipsets during the second half of 2011. &nbsp;</p>
<p>
	<strong>What are the products you are currently supplying in Nepal?</strong></p>
<p>
	We mostly supply for our local partners here, like Teletalk. Colors mobile, as a local brand, uses our chipset. We mainly supply chipsets and solutions for feature phones - 2G Bar phones, low-cost android phones to higher-performance 4-5 inch phablet phones, which uses quad-core chipsets for higher performances. We also supply chipsets for 3G Data Cards.</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	Like other markets, we have highly valued the Nepali market and local brands. We don’t make phones, but try to enable our customers and local brand partners, like Colors Mobile, to do so as easily as possible. &nbsp;The adoption of smart phones by the Nepali market is increasing and that is important for us. The emergence of Android smart phones democratise the market, which is heavily occupied by major technological giants. We believe that the consumer adoption of these smart phones, with access to data services, social networks and other varied applications, will continue to have beneficial effects for the societies that adopt them.</p>
<p>
	<strong>Why should consumers choose your products?</strong></p>
<p>
	Because of the way we approach the market and we plan. We supply the chip but what we deliver to the customer is much more than that. We don’t make the final products but we deliver complete software solutions along with the chipsets. The products our partner delivers, at cost effective prices, are not lower in comparison with high end devices. For good user experience, the power consumption, battery life and multimedia experience fulfil the consumers’ expectations.&nbsp;</p>
<p>
	<strong>How do you see the South Asian market?</strong></p>
<p>
	It’s been very important for us. For many years it’s been our major market for the 2G feature phone. The market effect we saw last year in China is now happening in the South Asian market. This means more tablets and more convergence from 2G to 3G. This trend is not going to stop and that’s why we are excited and focused on that. &nbsp;</p>
<p>
	<strong>What is the level of competition you face in Nepal?</strong></p>
<p>
	The competition in mobile space is always tough. Different brands, different chipset suppliers and so many other factors drive the market. This year, the &nbsp;sales volume of smart phones, as we expected, has been increasing so far in Nepal. The global competition in the smartphone segment is huge and tough for each major or minor player. You have to deliver better, faster and more affordable products to the consumer in order to be able to sustain yourself in the market. That’s part of life in this business.</p>
<p>
	<strong>What are your future strategies?</strong></p>
<p>
	We are focusing on 3G and 4G high performing technologies, including smart phones and devices for emerging markets like Nepal. &nbsp;We are also centred on more affordable Data Cards.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => '‘Android Smartphones Democratise The Market’, Dr Finbarr Moynihan',
			'description' => 'Dr Finbarr Moynihan is General Manager, Corporate Business Development for MediaTek. In this role, he manages MediaTek’s global customer, partner and operator relationships.',
			'sortorder' => '888',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '1012',
			'article_category_id' => '37',
			'title' => 'Can Nepal Achieve 7 Per Cent  Economic Growth Rate?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">The Nepali economy has not been doing well for the past many years. According to Nepal Rastra Bank (NRB), the country’s economic growth rate has remained sluggish for the past many years, mainly because of the decade-long conflict and political instability. In the period from FY 2001/02 to 2011/12, Nepal’s GDP growth rate has crossed the five percent mark only once (in FY 2007/08 when the growth rate was 6.10 per cent), according to the Central Department of Statistics. However, Nepal’s highest GDP growth rate so far was recorded in FY 1994/95, a year before the Maoist insurgency started in Nepal. Almost all economists and development experts agree that Nepal’s economic performance will not improve unless there is political stability.&nbsp;</span></p>
<p>
	We find that the economic growth rate increases when the agricultural growth rate is high (agriculture contributes to more than one-third of Nepal’s GDP). However, the growth in agriculture is dependent on monsoon rains; it is high when the country receives a good rainfall and low when the rainfall is low. The projected economic growth rate for the current fiscal year 2012/13 has already been revised twice – first from 5 per cent to 4.1 and then to 3.5 most recently. This means Nepal will have to double its current economic growth rate if it is to achieve a healthy growth rate of 7 per cent. That is clearly a tall order.&nbsp;</p>
<p>
	However, is that an impossible target for Nepal? Or can the country really achieve this target? If it can, how and through what measures? We asked these questions to a number of economists and development experts. Their responses are given below:&nbsp;</p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1011">‘Focus on agriculture and industrialisation’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1010" style="font-size: 12px;">‘Political stability&nbsp;<span style="font-size: 12px;">is a must’&nbsp;</span></a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1009">‘Seven percent growth rate possible’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1008">‘Need for political consensus on fundamental issues of development’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1007">‘Nepal has the potential to achieve 7% growth rate’</a></p>
<p>
	<a href="http://newbusinessage.com/Economy%20&amp;%20Policy/1006">‘Focus on tourism, productivity and exports’</a></p>
<p>
	<strong style="font-size: 12px;"><br />
	</strong></p>
<p>
	<strong style="font-size: 12px;">Economic Prospects</strong></p>
<p>
	<span style="font-size: 12px;">The economic outlook for Nepal hinges on how political uncertainties are resolved, the weather, and remittance inflows. Investor confidence is depressed by concerns over the political transition, now in its fifth year, following the dissolution in May 2012 of the Constituent Assembly, which failed to agree on a constitution. Recently, the political parties agreed to form a caretaker government led by the Chief Justice, which is expected to hold a Constituent Assembly election by 21 June 2013.</span></p>
<p>
	In view of the unfavorable monsoon, the shortage of fertilizers during the peak paddy planting season, low business confidence, the lack of a parliamentary-approved full budget, and subdued growth in India, GDP is projected to slow to 3.5% in FY2013. Production of paddy is projected to fall by 11.3%, maize by 8%, and millet by 2%. The lack of a full budget is causing funding shortages for ongoing development activities. While the industry sector performance is expected to remain weak, services growth is expected to continue to grow at around 5.4%. With a favorable monsoon, adequate fertilizer supplies, the timely adoption of a budget, and moderate expansion of remittances, GDP growth would rebound to 4.2% in FY2014.</p>
<p>
	<img alt="Annual GDP growth rate" height="319" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/economy_and_policy_may2013_annual_gdp.jpg" style="margin:0 10px 0 0;" width="595" /></p>
<p>
	(Source: Asian Development Outlook 2013)</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Can Nepal Achieve 7 Per Cent  Economic Growth Rate?',
			'description' => 'The Nepali economy has not been doing well for the past many years. According to Nepal Rastra Bank (NRB), the country’s economic growth rate has remained sluggish for the past many years, mainly because of the decade-long conflict and political instability.',
			'sortorder' => '887',
			'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' => '1011',
			'article_category_id' => '37',
			'title' => '‘Focus On Agriculture And Industrialisation’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Focus on agriculture and industrialisation’</p>
<p>
	Nepal cannot achieve a healthy economic growth rate so long as there are political instability, labour problems and low production in the country. Nepal witnessed economic stability in FY 1994-95 and that was for very short period of time. The agriculture sector could help to increase the country’s economic growth rate but the government has not been able to make enough investment in this sector. We must be able to commercialise our agricultural sector by introducing modern technologies in our traditional farming system. Simultaneously, we should also focus on industrial development which is the backbone for the development of any country in this age. &nbsp;</p>
<address>
	<strong>Himalaya Shamsher JBR</strong></address>
<address>
	<strong>First NRB Governor&nbsp;</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Focus on agriculture and industrialisation',
			'description' => 'Nepal cannot achieve a healthy economic growth rate so long as there are political instability, labour problems and low production in the country. Nepal witnessed economic stability in FY 1994-95 and that was for very short period of time.',
			'sortorder' => '886',
			'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' => '1010',
			'article_category_id' => '37',
			'title' => '‘Political Stability Is A Must’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	<span style="font-size: 12px;">‘Political stability is a must’</span></p>
<p>
	For a rapid economic growth, we need proper plans, policies and programmes. However, we cannot expect a robust economic growth rate unless we have political stability in the country. Political stability is a must. Similarly, we need to substantially increase the investment in the agriculture sector and make concerted efforts to modernize it. The services sector in Nepal has good prospects. A sustained growth in this sector, too, can help Nepal achieve a healthy economic growth rate. So, we must focus on agro-processing industries and on the development of new software technologies. Similarly, we must be able to use the ever increasing remittance inflows in a more productive manner if we are to achieve a growth rate of seven percent or more.&nbsp;</p>
<address>
	<strong>Dr Narayan Khadka</strong></address>
<address>
	<strong>Former Vice-chairman</strong></address>
<address>
	<strong>National Planning Commission</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Political stability is a must',
			'description' => 'For a rapid economic growth, we need proper plans, policies and programmes. However, we cannot expect a robust economic growth rate unless we have political stability in the country.',
			'sortorder' => '885',
			'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' => '1009',
			'article_category_id' => '37',
			'title' => '‘Seven Percent Growth Rate Possible’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Seven percent growth rate possible’</p>
<p>
	<span style="font-size: 12px;">Nepal’s economy has every possibility to grow by 7 per cent in the next fiscal provided that there is political stability in the country and the government makes policy changes to encourage the private sector.</span><span style="font-size: 12px;">The government should focus on providing a stable policy environment, integrating growth of the industrial and service sector and making investments in domestic production to displace imports.</span><span style="font-size: 12px;">Similarly, there is a need to boost our agricultural production. However, we should be able to create markets for our agricultural products.&nbsp;</span></p>
<address>
	<strong>Dr Posh Raj Pandey</strong></address>
<address>
	<strong>Executive Chairman</strong></address>
<address>
	<strong>South Asian Watch on Trade, Economics and Environment (SAWTEE)</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Seven percent growth rate possible',
			'description' => 'Nepal’s economy has every possibility to grow by 7 per cent in the next fiscal provided that there is political stability in the country and the government makes policy changes to encourage the private sector.',
			'sortorder' => '884',
			'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' => '1008',
			'article_category_id' => '37',
			'title' => '‘Need For Political Consensus On Fundamental Issues Of Development’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Need For Political Consensus On Fundamental Issues Of Development’</p>
<p>
	<span style="font-size: 12px;">Nepal needs a growth rate of around 4-5 per cent in the agriculture sector and 9-10 per cent in other sectors if the country’s GDP is to grow by around 7 per cent. Development is basically a political process.&nbsp;</span><span style="font-size: 12px;">Therefore, it is crucial that the major political parties reach a consensus on the fundamental issues of development. Liberalisation is needed for the growth of organised industrial trade and business.&nbsp;</span><span style="font-size: 12px;">We also need to enhance our productivity and introduce modern technologies to our agriculture sector.</span></p>
<address>
	<strong>Dr Badri Prasad Shrestha</strong></address>
<address>
	<strong>Former Finance Minister</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Need For Political Consensus on Fundamental Issues of Development',
			'description' => 'Nepal needs a growth rate of around 4-5 per cent in the agriculture sector and 9-10 per cent in other sectors if the country’s GDP is to grow by around 7 per cent. Development is basically a political process.',
			'sortorder' => '883',
			'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' => '1007',
			'article_category_id' => '37',
			'title' => '‘Nepal Has The Potential To Achieve 7% Growth Rate’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Nepal has the potential to achieve 7% growth rate’</p>
<p>
	<span style="font-size: 12px;">Nepal actually does have the potential to achieve a seven percent economic growth rate or more, like our two immediate neighbours – India and China. But in the present situation of political instability and uncertainty, it seems an almost impossible target. The World Bank has estimated Nepal’s economic growth to be not more than 3.8 per cent in the current fiscal year.&nbsp;</span></p>
<p>
	We must focus on our major sectors such as agriculture, tourism, water resource etc if we are to attain speedy economic growth. We must increase our domestic production significantly if we are to achieve such a high growth rate. Increased domestic production will not only help reduce the ever-rising imports of several products but will also help us earn foreign currency by increased exports. Likewise, we must also be able to develop our education, health and social sectors.&nbsp;</p>
<p>
	Finally, the government should create an investment-friendly environment by introducing matching policies and ensuring the security of investment – foreign as well as domestic.&nbsp;</p>
<address>
	<strong>Narayanraj Tiwari</strong></address>
<address>
	<strong>Former Finance Secretary</strong></address>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Nepal Has The Potential To Achieve 7% Growth Rate',
			'description' => 'Nepal actually does have the potential to achieve a seven percent economic growth rate or more, like our two immediate neighbours – India and China.',
			'sortorder' => '882',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '1006',
			'article_category_id' => '37',
			'title' => '‘Focus On Tourism, Productivity And Exports’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Can Nepal Achieve 7 per cent&nbsp;<span style="font-size: 12px;">Economic Growth Rate?</span></strong></p>
<p>
	‘Focus On Tourism, Productivity And Exports’</p>
<p>
	<span style="font-size: 12px;">Nepal has the prospects for large-scale investment. Foreign investment is important for the development of sectors such as hydropower, tourism, transport, railway, agriculture and other bigger projects. We need to speedily develop bigger hydropower projects to address the energy crisis. Without tackling the energy crisis, we cannot really expect a healthy economic growth rate. Both the public and the private sectors should invest to increase production. We also need rapid industrialization which will create new employment opportunities. Nepal has tremendous possibilities of tourism development. Nepal should basically target Chinese and Indian tourists. In the last fiscal year, more than 10 million Chinese and Indian tourists went for outbound travel. If we can attract only 10 per cent of it, we will have one million more tourists. Nepal should make serious attempts to achieve this. Nepal should make long-term strategies to reduce imports and increase exports by increasing the domestic production of goods and services. Nepal should focus on increasing the export of commodities like, carpet, herbs, ginger, tea and Pashmina, among others.</span></p>
<div>
	<address>
		<strong>Jaya Mukunda Khanal&nbsp;</strong></address>
	<address>
		<strong>Secretary</strong></address>
	<address>
		<strong>Ministry of Agriculture Development</strong></address>
</div>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-05-23',
			'keywords' => 'Focus On Tourism, Productivity And Exports',
			'description' => 'Nepal has the prospects for large-scale investment. Foreign investment is important for the development of sectors such as hydropower, tourism, transport, railway, agriculture and other bigger projects. We need to speedily develop bigger hydropower projects to address the energy crisis.',
			'sortorder' => '881',
			'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' => '1005',
			'article_category_id' => '85',
			'title' => 'Gold Plunges As Fears Over Inflation Fade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;">Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation. Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.The reversal comes as investors are grappling with signs the global economic expansion that began in 2009 is slowing.</span></p>
<p>
	The prices of industrial commodities ranging from copper to crude oil tumbled Monday, following news of softer-than-expected economic growth and industrial output in China. Adding to the gloom, the Federal Reserve Bank of New York issued a report showing manufacturing in the region barely expanding. The Dow Jones Industrial Average marked its worst one-day point decline since Nov. 7, 2012, dropping 265.86 points, or 1.8%, to 14599.20. Declines in commodity-linked sectors such as mining and energy led the selloff, with Freeport-McMoRan Copper &amp; Gold Inc. dropping 8.3%.</p>
<p>
	The market selloff continued in early trading Tuesday in Asia, with Japan down 1.3%, Korea down 0.5% and Australia down 0.8%. Gold also traded lower on the Tokyo Commodity Exchange, triggering circuit breakers because of steep price drops.</p>
<p>
	After posting 12 consecutive annual price rises, gaining more than 500% over that span, gold is suddenly being shunned by investors who once saw it as a way to generate outsize returns without the volatility and uneven performance in the stock, bond and real-estate markets.</p>
<p>
	The gold rout stemmed partly from worries Cyprus and perhaps other nations may become sellers of the precious metal. Other price drags cited by traders included a sale recommendation on gold last week fromGoldman Sachs Group Inc., and a growing view that stocks are better investments, due to continuing low inflation.</p>
<p>
	"Forced selling" by investors holding gold was also among the reasons stock and commodity markets tumbled Monday, said John Brynjolfsson, who runs the $1 billion hedge fund Armored Wolf LLC. Investors. After markets closed Monday, CME Group Inc., which operates the Comex gold market, increased the sums investors must pledge in order to trade gold futures. Exchange operators often raise so-called margin requirements at times of large market swings.</p>
<p>
	Gold's capitulation has been months in the making. The price hit a recent high in October and has been in decline since. Over the past six years, central banks in the U.S. and Europe have printed extraordinary amounts of their currencies in an effort to resuscitate the world economy. Every new round of "quantitative easing," as it has been dubbed, was accompanied by loud warnings that the inevitable result of this easy money would be a surge of inflation.&nbsp;</p>
<p>
	 </p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Gold Plunges As Fears Over Inflation Fade, Global Biz Trends, New Business Age',
			'description' => 'Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks' easy-money policies would stoke inflation.',
			'sortorder' => '880',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117