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			'id' => '1004',
			'article_category_id' => '85',
			'title' => 'Real Madrid Overtakes Man Utd In Forbes Rich List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.</span></p>
<p>
	Forbes now values the Spanish giant at $3.3bn (£2.2bn), with Man Utd in second place on $3.17bn. Barcelona is third. Forbes said Real Madrid's financial success came despite the continuing woes of the Spanish economy.</p>
<p>
	"Real Madrid has been consistently delivering the highest revenues of any soccer team in the world, despite an intense economic meltdown in Spain," said Forbes. "With superstars like Cristiano Ronaldo on the pitch, and coach Jose Mourinho on the bench, Real Madrid has thrived under the leadership of billionaire president Florentino Perez."</p>
<p>
	In coming to its figures, Forbes looks at a football club's various revenue streams, such as television money, ticket sales, merchandise and concessions.</p>
<p>
	After Barcelona on $2.6bn, Forbes found that Arsenal was the fourth richest club, worth $1.33bn, followed by Bayern Munich ($1.31bn), AC Milan ($945m), Chelsea ($901m), Juventus ($694m), Manchester City ($689m) and Liverpool ($651m). David Beckham, now with French team Paris St-Germain, was the highest earning player, followed by Real Madrid's Ronaldo.&nbsp;</p>',
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			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Real Madrid Overtakes Man Utd In Forbes Rich List, Global Biz Trends, New Business Age',
			'description' => 'Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.',
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			'id' => '1003',
			'article_category_id' => '85',
			'title' => 'South Asia Regains Momentum But Faces Risks: World Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.</p>
<p>
	The combined growth of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka was just 4.7 percent in 2012, substantially below pre-crisis levels, according to the report.</p>
<p>
	A pick-up to 5.5 percent can be expected in 2013 with ongoing efforts to regain fiscal space and boost private investment, it said, adding that given the uncertain global environment, it will be important to strengthen the investment climate, noted the report.</p>
<p>
	"How countries manage their economies in the face of uncertainties in the global environment will be critical not only for addressing near-term current account and fiscal deficits but also for tackling South Asia's long-term challenges," said Martin Rama, chief economist for the South Asia Region at the World Bank.</p>
<p>
	The report, a twice-yearly look at South Asia's economic prospects, said that the region is now more vulnerable because current account balances have widened, foreign direct investment has slowed, and persistently high inflation has limited the ability for central banks to use monetary policy to counter any economic downturn.</p>',
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			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'South Asia Regains Momentum But Faces Risks: World Bank, Global Biz Trends, New Business Age',
			'description' => 'South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.',
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			'id' => '1002',
			'article_category_id' => '85',
			'title' => 'Chinese Bank Tops Forbes Global 2000 List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.&nbsp;</span></p>
<p>
	Underscoring the power move by Chinese companies to top global rankings, China Construction Bank leaped 11 spots from last year to the number-two spot on the Forbes list of the world’s largest public companies. “This year’s list again reveals the dynamism of global business,” said Scott DeCarlo, the list editor.&nbsp;</p>
<p>
	Forbes said that ICBC -- The Industrial and Commercial Bank of China -- and CCB were bumped higher in the ranks by double-digit growth in both sales and profits in 2012, although annual profit growth for both banks was the slowest rate since they went public. ICBC brought in $37.8 billion in profits on $2.8 trillion in assets last yeat, while CCB earned $30.6 billion on $2.2 trillion in assets.&nbsp;</p>
<p>
	<span style="font-size: 12px;">“Most analysts don’t expect a banking crisis in China, but rising defaults and shrinking loan profitability are serious threats to the country’s banking system,” Forbes said. The rankings of the Forbes top 2000 are determined by an equal weighting of sales, profits, assets and market value.&nbsp;</span></p>
<p>
	Wall Street bank JPMorgan Chase, the world’s biggest company in 2011, slipped from number two in 2012 to number three in 2013 as sales dipped. US conglomerate General Electric moved down a notch to the fourth spot.. ExxonMobil, the US oil and gas giant, tumbled from its one-year reign at the top last year to the number-five spot, despite being the world’s most profitable company for the second year in a row with $44.9 billion in net income, Forbes said. Apple, which has vied over the past year with Exxon for the title of the world’s most valuable company by market capitalization, was tied at number 15 with Wal-Mart Stores.&nbsp;</p>
<p>
	Wal-Mart reclaimed the top perch as the word’s sales leader with 5.0 percent growth from Dutch-Anglo energy firm Royal Dutch Shell. Germany’s Allianz, South Korea’s Samsung Electronics, and US-based AT&amp;T joined the 25 top-ranked companies. Allianz gained the most ground, rising to 25th from 50th in last year’s list.&nbsp;</p>
<p>
	By country, the United States, adding 19 members, continued to dominate the list with 543 members, its highest total since 2009. Japan lost seven members, but at 251 remained the second-biggest country on the list. For the first time since the list began in 2004, Forbes said, China did not increase the number of its companies on the list. But it still had the third-largest presence with 136 members.&nbsp;</p>
<p>
	Forbes highlighted three Asian countries that showed standout overall growth in the list: Singapore, Thailand and Malaysia. &nbsp;Belgium, Turkey, and the United Arab Emirates had the biggest rise in company market values, growing by double digits from a year ago. Eleven countries had only one firm on the list, including New Zealand, the Czech Republic and Vietnam.</p>',
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			'keywords' => 'Chinese Bank Tops Forbes Global 2000 List, Global Biz Trends, New Business Age',
			'description' => 'Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.',
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			'article_category_id' => '85',
			'title' => 'Japan Reports Record Annual Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports. A weak yen, which has dipped nearly 20% against the US dollar since November, also boosted the value of the imports.</p>
<p>
	Analysts said the deficit was likely to shrink in the coming months as the weaker yen will help Japan's exports. The yen has dipped after policymakers introduced aggressive measures aimed at spurring a fresh wave of economic growth and stoking domestic demand.</p>
<p>
	Japan, which has traditionally been known for its exports, has seen a shift in its trade pattern in recent times. It has seen its imports rise, driven mainly by an increased demand for fuel. This was after most of its nuclear reactors were shut after the earthquake and tsunami in 2011 which damaged the Fukushima Daiichi nuclear plant and resulted in radiation leaks. As a result, utility providers have had to turn to traditional thermal power stations to generate electricity. These power plants need natural gas and coal to operate, resulting in a surge in imports of these commodities.</p>
<p>
	Meanwhile, its exports have been hurt by a slump in demand from key markets such as the US and Europe, while a territorial dispute has hurt sales to China. That has seen it report a deficit for nine straight months.&nbsp;</p>',
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			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Japan Reports Record Annual Trade Deficit, Global Biz Trends, New Business Age',
			'description' => 'Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports.',
			'sortorder' => '876',
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			'id' => '1000',
			'article_category_id' => '40',
			'title' => 'Revisiting Nepali Consumers: Facts, Trends & Business Impacts',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Many believe that Nepal is still an under-explored market given the potential it has. The market is growing and chances of further expansion are still very high due to the increased awareness and affordability of consumers. The world’s leading brands available in Nepal have created an environment in which consumers can expect to get what they want. &nbsp;Every product has been putting their effort to get a hold in the market by expanding their consumer-base.&nbsp;</strong></p>
<p>
	<strong>Based on Purchasing Power Parity (PPP) Nepal’s Per Capita Income has doubled in 32 years. Recently released Human Development Report 2013 by the United Nations Development Program (UNDP) has revealed that the gross national income (GNI) per capita in PPP increased by 101 percent to US$ 1,137 in 2012 compared to 1980. Inflow of remittance and an large portion of youth population has made Nepal a potential market to companies.</strong></p>
<p>
	<strong>In this issue, New Business Age provides marketers and companies with some interesting insights to know the changing consumers landscape in Nepal.</strong></p>
<p>
	<span style="font-size: 12px;">In the capital Kathmandu, varieties of goods and shopping places can be found within a few minutes from their homes. People can find products according to their affordability. There are varieties of price ranges and choices to consumers. Family run groceries are still the norm in Nepal, but supermarkets and malls are also doing good business.&nbsp;</span></p>
<p>
	Despite economic slowdown, the consumption of fast-moving consumer goods (FMCGs) has not dropped but constantly going up. Nepal has been witnessing satisfactory growth in per capita food and non-food consumption expenditure. Household consumption of fast moving consumer goods (FMCGs) has also gone up. Multiple factors have contributed in expansion of Nepal’s market.&nbsp;</p>
<p>
	The visible growth of Nepal’s economy, especially income of the people, over the last decade has put more money in the pockets of the country’s middle class, prompting retailers to target this group of consumers.&nbsp;</p>
<p>
	<strong>Census 2011</strong></p>
<p>
	In the report of National Population and Housing Census 2011 published by the CBS, the population of the country has grown to 26.6 million with 1.35 percent annual growth rate since the last census that was concluded in 2001.</p>
<p>
	Thus, Nepal is the market of 26.6 million consumers including 12.8 million male population and 13.64 female. The census report shows that Terai region constitutes of 50.27 percent (13.31 million) of the total population. Similarly, hilly and mountain areas constitute 43 percent (11.39 million) and 6.73 percent (1,781,792) respectively.</p>
<p>
	Highlights:</p>
<ul>
	<li>
		Population: 26,494,505</li>
	<li>
		Households: 5,427,30</li>
	<li>
		Average household size: 4.88</li>
	<li>
		Sex ratio (number of males per 100 females): 94.2 (Number of male per 100 female)</li>
	<li>
		Urban population: 17 per cent</li>
	<li>
		Population density (average number of population per square km): 180</li>
</ul>
<p>
	<strong>Age Groups and Corresponding Market</strong></p>
<p>
	The age of the consumer determines the type of products sellable in the market.&nbsp;</p>
<p>
	Normally, a young person is fashion conscious in the choice of products, while a middle-aged person is status conscious.</p>
<p>
	The age group of 10-14 years of the population is seen the highest (when compared to other 5-year gap intervals) in Nepal as per the 2011 census data. Also, the female population is slightly more than that of males. There are 13,645,463 women in Nepal, which accounts for 51.5 percent of the total population, while the number of males is 12.84 million. &nbsp;Higher population of women shows that the market of cosmetics items, clothing and boutiques are very good in the country.&nbsp;</p>
<p>
	<img alt="Age Groups and Corresponding Market, Cover Story, Revisiting Nepali Consumers" height="304" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_age_group_and_corresponding_market.jpg" width="506" /></p>
<p>
	<strong>Youth Population</strong></p>
<p>
	The census data shows that more than half of the population, about 55 per cent, is below 25 years of age. According to the 2011 census report, some 34.91 per cent of the population is aged below 14 years and another 19.97 per cent is aged between 15-24 years.</p>
<p>
	This is one of the reasons why many world players are coming and establishing their presence here in the Nepali market. Young Nepalis today expect a lot more from their lives, and often face pressure that was unfamiliar to earlier generations. Young people often want to keep up with global fashions and market trends. Their passion of following global fashion and trends has created many opportunities in Nepali market. Though Nepali population is mostly young, the size of old-age population has been increasing as well offering increased opportunity for business that provide goods and services to aged.&nbsp;</p>
<p>
	<strong>Family Size and the Family Life Cycle</strong></p>
<p>
	The buying decision in a large family is more complex as several individuals play different buying roles, such as that of initiator, influencer, prayer, buyer and users, economist Dr Chiranjivi Nepal says. He opines that the large families generally buy a single brand while small families are found to be more brand-switching. Consumers’ product varies according to the stage of their family life cycle. The consumption pattern of a bachelor is different from that of a man with several children.</p>
<p>
	The average household size of Nepal is 4.88 as per the 2011 census data. The household size of the urban and rural was seen 4.32 and 5.02 respectively. The largest household size was seen in Rautahat district with 6.44 and the lowest of 3.92 in Kaski district.</p>
<p>
	<strong>Remittance</strong></p>
<p>
	Around 1,500 Nepali workers go abroad for employment every day and it is their remittance that keeps the Nepali economy afloat, opines economist Nepal.&nbsp;</p>
<p>
	According to the World Bank, Nepal ranked 6th in the world among top remittance-receiving countries in 2011, with remittances making up 20 per cent of its GDP. A total of 56 per cent of the total households in Nepal receive remittances. Of which, 48 per cent comes from international labour migration, according to Central Bureau of Statistics. Accounting for more than 20 per cent of the GDP, migrant labourers brought in Rs 359 billion in the last fiscal year alone.</p>
<p>
	<img alt="Remittance, Revisiting Nepali Consumers" height="206" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_remittance.jpg" width="515" /></p>
<p>
	<strong>Education</strong></p>
<p>
	Of the total population, 39.04 percent are at the level of primary education. The male population dominated all the regions of the country in the literacy level. 65.94 per cent of the total population are literate (can read and write) in Nepal. &nbsp;2.52 percent of the population of Nepal can read only as per census data. Kathmandu has the highest literacy rate and Humla, the lowest with 86.3 per cent and 47.8 per cent respectively. The school enrollment of Nepal is seen at 95.1 per cent as per census data. This means over 95 per cent of school going age population is actually enrolled in schools. This indicates to very good market for educational material and education-related services.</p>
<p>
	<img alt="Population Aged 5 years and above by Literacy Status, Revisiting Nepali Consumers, Cover Story" height="215" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_population_5years_above_literacy_status.jpg" width="528" /></p>
<p>
	<strong>Toilet Use</strong></p>
<p>
	More than one-third, i.e., 38.17 per cent of the Nepali population does not have toilet facility. In Terai region, a total of 51.24 per cent of population are still without toilet facility.&nbsp;</p>
<p>
	However, the trend of constructing the flush toilet and squat toilet with septic tank is increasing in the country including both in the rural as well as in urban areas. Therefore, the business of sanitary ware has also been going up.&nbsp;</p>
<p>
	<img alt="Toilet Use, Revisiting Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_toilet_use.jpg" /></p>
<p>
	<strong>Rural Market&nbsp;</strong></p>
<p>
	Though the business volume may be big in Kathmandu and urban areas, Nepali villages offer very good markets in terms of the number of consumers as about 82.30 per cent of the population of the country is living in rural areas.&nbsp;</p>
<p>
	Interestingly even some parts of the urban population &nbsp;have rural consumption behaviour. And urban characters can be seen also in some rural areas due to the influence of remittance, for example. However, purchasing capacity of rural community is low compared to urban population. Rural population still depends on agricultural activities. The consumption habit, however, has been changing in the rural areas too. One reason is the road access and the other is education. Also the availability of electricity and cable TV as well as opening of cinema halls in those rural areas have been changing the consumption habit in rural Nepal.</p>
<p>
	Many companies have been launching products targeting the rural population. Comparatively low-cost products and micro-packing are main strategies adopted by companies to get a hold in rural areas.&nbsp;</p>
<p>
	<img alt="Rural Market, Revisiting Nepali Consumers, Cover Story" height="86" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_rural_market.jpg" width="390" /></p>
<p>
	 </p>
<p>
	<strong>Fuel</strong></p>
<p>
	According to National Population Census 2011, Nepal still relies heavily on firewood to fulfill its fuel demand for the purpose of cooking. However, the consumption of Liquefied Petroleum Gas (LPG) has significantly increased in the recent years which has created lots of space for the business of LPG stoves, regulators, pipes, cylinders and other necessary accessories.&nbsp;</p>
<p>
	One interesting fact about source of fuel for cooking is that big urban districts like those in the capital (except Lalitpur), Parsa, Kaski and Morang do not feature among the top users of electricity. Obviously the frequent power outage and cheap price of LP Gas have prompted the households ot shift to LP Gas in those districts.</p>
<p>
	<img alt="Fuel, Revisiting Nepali Consumers, Cover Story" height="717" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_fuel(1).jpg" width="389" /></p>
<p>
	<strong>Lighting Sources</strong></p>
<p>
	Electricity is seen as the major source of lighting for Nepali households. Total of 67.26 percent of the population is using electricity as the source of lighting. Similarly, kerosene is the second major source of lighting (18.28 per cent). But these households suffer from frequent power outage.</p>
<p>
	This has created much opportunities for the traders of invertors and batteries as well as solar power systems.</p>
<p>
	Therefore, business of electricity accessories such as bulbs, wires, poles and ceiling lights is doing well in Nepali market. At the same time, business of solar energy has also gone up and possibility of bio-gas related business is also very high in the Nepali market.&nbsp;</p>
<p>
	<strong><img alt="Lighting Sources, Revisiting Nepali Consumers, Cover Story" height="607" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_lightening_sources.jpg" width="385" /><br />
	</strong></p>
<p>
	<strong>Religious Cultural Factors</strong></p>
<p>
	In September 2012, World’s famous fast food chain McDonalds launched its first vegetarian restaurants in India targeting Indian Hindu. The reason of launching vegetarian products was obvious that McDonalds did not want to lose Hindu consumers.&nbsp;</p>
<p>
	Cut-throat competition among various companies and outlets has created a scenario whereby all companies try to lure consumers by offering what they want. Nepal is multi-religion country and companies may want to tap consumers according to religion.&nbsp;</p>
<p>
	Consumer diversity is obviously very high in the country and creating more challenges for the marketers. There is diversity at multiple levels: ethnic and caste differences, religious diversities, rural-urban diversities, diversities in source of income and educational level along with others. Yet, there are many opportunities since the Nepali market is not fully explored so far. On top of all, Nepali consumers are very eager to try new products and services.&nbsp;</p>
<p>
	<img alt="Religious Cultural Factors, Revisitng Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_religious_cultural_factors.jpg" /></p>
<p>
	<img alt="Cultural Composition, Revisiting Nepali Consumers, Cover Story" height="393" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_religious_cultural_composition.jpg" width="496" /></p>
<p>
	<strong>Absent Population</strong></p>
<p>
	One in every four households (25.42%; 1.38 million households) reported that at least one member of their household is absent or is living out of country. Total number of absent population is found to be 1,921,494 in 2011 census against 762,181 in 2001. The highest proportion (44.81 percent) of absent population is from the age group 15 to 24 years. Gulmi, Arghakhanchi and Pyuthan districts reported the highest proportion of their population being absent (staying abroad).</p>
<p>
	<img alt="Top five Absent Population District, Revisiting Nepali Consumers, Cover Story" height="153" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_absent_population_district.jpg" width="595" /></p>
<p>
	<img alt="Top Ten Destination of Migrant Nepali Workers, Revisiting Nepali Consumers, Cover Story" height="764" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_remittance_migrant_workers.jpg" width="380" /></p>
<p>
	 </p>
<p>
	<strong>Media Consumption</strong></p>
<p>
	The media consumption patterns, profiles of audiences on different platforms and media types, and the effectiveness of advertising across platforms have been significantly changed over the last decade.&nbsp;<span style="font-size: 12px;">Consumers concentration has been shifted to the television from radio, according to Managing Director at JWT-Thompson Nepal Joydeb Chakravarty. “Ten years back the national media was radio but today more people watch television,” he says.&nbsp;</span></p>
<p>
	<span style="font-size: 12px;"><img alt="Media Consumption, Revisiting Nepali Consumers, Cover Story" height="262" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_media_consumption.jpg" width="521" /><br />
	</span></p>
<p>
	<strong>Computer and Internet</strong></p>
<p>
	Computers and Internet products are also growing day by day. The number of Internet users in Nepal has accelerated in the country. Access to the Internet has positive implications for society and the economy. A study carried out by Computer Association of Nepal (CAN) last year showed that the computer penetration rate in the country had crossed five per cent. The survey was carried out based on the record of import of computer monitors and branded laptops, according to CAN general secretary Narayan Neupane. The penetration rate of computer at present may have crossed eight, he says, adding that the trend of using computers is on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for their day-to-day activities.&nbsp;</p>
<p>
	<img alt="Computer and Internet, Revisiting Nepali Consumers, Cover Story" height="171" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_telephone.jpg" width="531" /></p>
<p>
	<strong style="font-size: 12px;">Automobiles</strong></p>
<p>
	Nepal has been seeing the penetration of two- and four-wheelers increasing at a rapid pace, thanks to the expansion of road connectivity and increased income of citizens. Expansions of road network throughout the country and a steep rise in the number of migrant workers have played a catalytic role in the growth of automobile sales.&nbsp;</p>
<p>
	So, many automobile brands have been able to establish themselves and automobile has become one of the largest customs duty contributors in the country. Nepali consumers have been using four-wheeler ranging from the most expensive one to the cheapest Nano car. Similarly, Nepal-assembled brands such as Mustang and Sherpa has also been rolling on Nepali roads. &nbsp;</p>
<p>
	<img alt="Top three districts with various Vehicles facilities, Revisiting Nepali Consumers, Cover Story" height="280" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_vehicles.jpg" width="533" /></p>
<p>
	<strong>ICT and Mobile</strong></p>
<p>
	Not only telecom sector but also the market of entire Information and Communication Technology (ICT) has expanded over the last few years. As far as mobile market is concerned, Nepal has approximately Rs 15 billion transaction every year, according to chairman of Mobile Traders Association of Nepal Purushottam Basnet. Nepal has been very potential market for mobile phone sets and other ICT products.</p>
<p>
	<img alt="Top three districts with ICT and Mobile, Revisiting Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_ict_mobile.jpg" /></p>
<p>
	<strong>Home Appliances&nbsp;</strong></p>
<p>
	Sales of the home appliances have tremendously increased over the last year. The sales of refrigerators, washing machines, vacuum cleaners, LEDs and LCDs has boosted in the recent years. Besides, people living in urban areas are continuously upgrading their living standards, and home appliances are deemed as components that add value to their living condition. The market of home appliances has also increased in the rural areas too.&nbsp;</p>
<p>
	<img alt="Top three districts with  Refrigerator facilities, Revisiting Nepali Consumers, Cover Story" height="160" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_home_appliances.jpg" width="532" /></p>
<p>
	<span style="font-size: 12px;">Consumer diversity is obviously very high in the country and creating more challenges for the marketers. There is diversity at multiple levels: ethnic and caste differences, religious diversities, rural-urban diversities, diversities in source of income and educational level along with others. Yet, there are many opportunities since the Nepali market is not fully explored so far. On top of all, Nepali consumers are very eager to try new products and services.&nbsp;</span></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '2013-06-07',
			'keywords' => 'Revisiting Nepali Consumers: Facts, Trends & Business Impacts, Cover Story, New Business Age',
			'description' => 'Many believe that Nepal is still an under-explored market given the potential it has. The market is growing and chances of further expansion are still very high due to the increased awareness and affordability of consumers.',
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	(int) 5 => array(
		'Article' => array(
			'id' => '999',
			'article_category_id' => '40',
			'title' => 'Young Consumers Have Smart Perspective On How To Spend Money',
			'sub_title' => '',
			'summary' => null,
			'content' => '<address>
	<strong>Mani Raj Dahal</strong></address>
<address>
	<strong>Country Manager</strong></address>
<address>
	<strong>The Nielsen Company Nepal Pvt Ltd</strong></address>
<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">It is very important to assess how the market is doing and what the current trends of consumption are to revisit the consumers. Nepal is still an unexplored market in many fields and, therefore, it offers possibilities of market expansion to companies. It is worthwhile to mention here that the spending and consumption habit of consumers are positive in Nepal, despite the huge political problems the country is going through.&nbsp;</span></p>
<p>
	<strong>Rising Consumerism&nbsp;</strong></p>
<p>
	There is a tremendous potential in the country for companies to expand their products and services.&nbsp;<span style="font-size: 12px;">The swelling consumerism has seen the introduction of a range of new products like ready-to-eat snack foods, breakfast cereals, textures vegetable protein foods and so on. Different brands of the same item and attractive packaging vie &nbsp;for the consumers’ attention.</span></p>
<p>
	<strong>Spending Capacity</strong></p>
<p>
	The increased spending capacity of consumers is really a good sign in the Nepali market. &nbsp;The inflow of remittance and tourism have contributed to increase the income of consumers. The purchasing power of consumers has a direct impact on the market expansion.&nbsp;</p>
<p>
	Every investor asks some questions before starting a business: how big is the market and what are the possibilities of growing? And the scenario in Nepal is not so bad. Though Nepali market is not that big, there’s enough room for new companies and brands.&nbsp;</p>
<p>
	<strong>Youth Focused Market</strong></p>
<p>
	At present, the consumption of Nepali young generation forms a thriving market. Young consumers are usually impressed with branded and quality goods and services then being purely price sensitive . Companies and service providers can take advantage of this to further set up their brand image.<span style="font-size: 12px;">The young generation enjoys a staggering amount of purchasing power in the country due to foreign employment and inflow of remittance. Young consumers not only have money, but also have smart perspectives on how to&nbsp;</span><span style="font-size: 12px;">spend money.&nbsp;</span></p>
<p>
	<strong>Consumerism and Socialisation</strong></p>
<p>
	It is really interesting to mention here that Nepali culture has changed over the years due to technology and consumerism.&nbsp;<span style="font-size: 12px;">Our socialization process has changed, compared to some years ago. Lifestyle and consumption habits are considered to be the main reason for the socialization and it is obvious that the process of socialization has changed throughout the last one or two decades. For instance, we can take café culture, business in Valentine Day or may be English New Year.&nbsp;</span></p>
<p>
	<strong>Nepali Products</strong></p>
<p>
	Entrepreneurship is something that will help the country to achieve sustainable development. The chances of entrepreneurship are very high in Nepal, all we need is creative minds and creative ideas. In Nepal, the chances of branding local products are very high. Nepali people are very much habituated to consume Nepali food and drinks trend and young entrepreneurs can establish Nepali brands of that sector. The typical Nepali style goods are also making their brands .</p>
<p>
	<strong>Price Hike Impact&nbsp;</strong></p>
<p>
	It is an interesting fact that in Nepal, despite the frequent price hike of Fast-moving Consumers Goods (FMCG), the market has not seen a drop in the demand of such goods. This indicates that consumers have got the capacity and are willing to pay more for the products of their choice of consumption.</p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '2013-05-22',
			'keywords' => 'Young Consumers Have Smart Perspective On How To Spend Money, Cover story, New Business Age, May 2013',
			'description' => 'Entrepreneurship is something that will help the country to achieve sustainable development.',
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	(int) 6 => array(
		'Article' => array(
			'id' => '998',
			'article_category_id' => '40',
			'title' => 'When You Build Your Own Brand You Are Able To Command A Premium Rate',
			'sub_title' => '',
			'summary' => null,
			'content' => '<address>
	<strong><span style="font-size: 12px;">Joydeb Chakravarty</span></strong></address>
<address>
	<strong>Managing Director</strong></address>
<address>
	<strong>JWT-Thompson Nepal</strong></address>
<p></p>
<p>
	<strong style="font-size: 12px;">Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">Some experts say that Nepal is still an untapped and unexplored market. Do you agree?</strong></p>
<p>
	Nepal was first country in the region to be exposed to international brands. Some 30 years back, India did not have the access and exposure to the brands that were here in Nepal. Nepali consumers have always been exposed to these kinds of international brands for last 30-40 years. So, when local brands try to enter this market they find it a challenge because consumers benchmark it with international brands that they have already used. It could be in any category, but the consumers give it a fair trial and if it does not meet their expectations then they have no hesitation in rejecting it. The Nepali consumers are very discerning indeed!</p>
<p>
	<strong>Can you please tell us some major differences in the consumers’ behavior in the past and present?</strong></p>
<p>
	Today the consumers have a different kind of exposure because of the reach and penetration of the international media. This has had very large impact to the consumers’ psyche. When you look at the way people dress, we see they are following the world’s leading trends. Nepali consumers’ tastes and trends have evolved over the last couple of decades. Look at the way they have embraced new technology, new gadgets and even smart phones. Look at two wheeler sector, earlier people went for something functional but not anymore. Now they want a higher-end bike to go with their perceived self-image. People have a much higher level of aspiration now, and want to show that through their material possession.&nbsp;</p>
<p>
	<strong>What are the practices of the companies regarding study of consumers’ buying behavior in Nepal?</strong></p>
<p>
	Client and organizations in Nepal are talking about research. Although, they might not always employ a professional research agency, they might want to do research in-house, through their own team, which is not the right way to do it, but it still goes some way. Earlier there a few companies who actually believed in market and consumer research but that’s changed. We now see that clients and companies are talking about research, which is a very positive sign.</p>
<p>
	<strong>How is the branding practice in Nepal? How important is branding from your perspective?</strong></p>
<p>
	Branding has caught on over the last two decades. Everything now seems to be branded. I am just not talking about the consumer goods, but commodities which at one time were sold loosely are now branded. Companies have now come to realize and appreciate that when you build your own brand you are able to command a premium rate.</p>
<p>
	<strong>What is the media consumption habit of Nepali consumers right now?</strong></p>
<p>
	If you see the ownership in the durables likes colour television (63% in 2012 Vs 13% in 2003), radio, refrigerator and mobile phones have drastically increased. Ten years back the national media was primarily radio based but today there are more people watching television than listening to the radio. Obviously radio has not been able to catch the imagination the listeners, while television has caught on despite having more than 350 FM radio channels in Nepal. The print too have taken its toll, readership has gone down over the last ten years even though literacy has gone up. The reason could be the high cover price of newspapers. The usage of the internet has gone up drastically from 2% in 2002 to more than 25% in 2012.&nbsp;</p>
<p>
	<strong>How do you envisage the importance of advertisement to catch the emotional side of consumers?</strong></p>
<p>
	If you are unable to connect with your customers on an emotional level, you will not be able to engage with them meaningfully. Consumers today have many interests and they are not waiting to see your advertisements! Unless you are able to make an emotional connection with your customers; make your advertisements distinctive, emotional, entertaining and engaging otherwise you cannot hope to catch their attention.</p>
<p>
	<strong>What are the contributing factors in the quality of advertisements? What are the reasons behind low quality of advertisement in Nepal?&nbsp;</strong></p>
<p>
	Over the last few years the quality of advertisements has not matched the expectation of the Nepali consumers. &nbsp;There are many reasons for that, no one wants to take a ‘risk’ and everyone wants to ‘play safe’. Companies feel that if they come up with a “creative” advertisement it might go over the head of their audience. There is very little the advertising agencies can do in that kind of a scenario. This is also compounded by the severe shortage of creative people in the advertising sector. Moreover, top quality advertising production – especially films cost huge amounts of money. The market here is very small compared to other countries&nbsp;<span style="font-size: 12px;">in the region.&nbsp;</span></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '2013-05-22',
			'keywords' => 'When You Build Your Own Brand You Are Able To Command A Premium Rate, cover story, New Business Age',
			'description' => 'Nepal was first country in the region to be exposed to international brands. Some 30 years back, India did not have the access and exposure to the brands that were here in Nepal. Nepali consumers have always been exposed to these kinds of international brands for last 30-40 years.',
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		'Article' => array(
			'id' => '996',
			'article_category_id' => '50',
			'title' => 'New Year Hues',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	The rise of the middle and upper middle class and the growing income this sector of the society enjoys definitely have increased consumeriism. In the Nepali context, not only these factors have been contributing to the growing level of consumption of both FMCGs (Fast Moving Consumer Goods) and durables. The increasing remittance from migrant workers potentially goes for consumption too. Consumption is naturally the top priority for the families of the migrant workers with a humble economic background. &nbsp;However, it is important to note that these consumers are not considered to be brand conscious. Urban dwellers and, especially, the youths are the ones concerned and lured by the flashy brand names.&nbsp;</p>
<p>
	Various well known global brands have their presence in Nepal in different product categories. The festive seasons are the moments when there is an opportunity for these brands to potentially increase sales, more than in “normal days.” Consumers also want to make festivals a special occasion by shopping new goods. The New Year 2070 seems to be the perfect occasion: customers buy more and sellers try to sell more as well. To make this happen, business get involved in aggressive marketing strategies. This is an attempt to create a win-win situation for both.</p>
<p>
	<strong>Sangam Khadka, Baneshwor</strong></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '0000-00-00',
			'keywords' => 'New Year Hues, Feedback, New Business Age',
			'description' => 'The rise of the middle and upper middle class and the growing income this sector of the society enjoys definitely have increased consumeriism. In the Nepali context, not only these factors have been contributing to the growing level of consumption of both FMCGs (Fast Moving Consumer Goods) and durables.',
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		'Article' => array(
			'id' => '995',
			'article_category_id' => '50',
			'title' => 'Extend The Value Chain',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	I find New Business Age magazine loaded with relevant content. I believe that the reading habit of today’s youth is oriented towards byte sized articles. Additionally, articles could be more attractive and easier to comprehend with the use of graphics. Enlivening the contents in such a manner would be a challenge for contributory guest articles, but if the magazine could offer a way to do it and the approval from the author, the suggested improvements could be achieved. &nbsp;&nbsp;</p>
<p>
	I think that the core readers of this magazine are young executives and management students. What they really crave for is information - latest trends, developments, concepts, models… etc. I wonder, is it possible to feature an exec-summary with every issue that touches 5 to 10 important points under various categories For example, these could be latest concepts in H.R., governance, CSR, marketing, branding orleadership. Each point could be a 3-4 liner as in intro. The reader can do research by him or herself if the subject is relevant.</p>
<p>
	I believe that any educational forum or magazine (like this one) has a dual role to play: pass on domain knowledge and also imbibe certain values and attributes that make humans better. After all, the quality of a human being defines the way he or she &nbsp;operates in a value-challenged environment. Could your magazines carry a regular feature that helps the reader to understand the difference between pursuing success and excellence? Is the publication group into creating experiential platforms that bring alive the various theories propounded in these magazines? Such activities would extend the value chain and would go a long way to create domain leadership.&nbsp;</p>
<p>
	<strong>Manosh R. Sengupta, Brand-Parent, Nurturer, Mentor, brand-@itude</strong></p>',
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			'created' => '2013-05-22',
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			'description' => 'I find New Business Age magazine loaded with relevant content. I believe that the reading habit of today’s youth is oriented towards byte sized articles. Additionally, articles could be more attractive and easier to comprehend with the use of graphics.',
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			'id' => '994',
			'article_category_id' => '50',
			'title' => 'Airlines Merger',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	As TR Manandhar, Director General of CAAN, said (New Business Age, April 2013) the number of airlines is higher than what the &nbsp;market can sustain. In a condition where tourism is not yet at a peak, the domestic market for aviation in Nepal is still untapped and some rural destinations can be developed that can be reached more conveniently by air than by land. &nbsp;Airlines have been facing problems in generating profits because of the high operational cost and inadequate capital base. In the current situation, as Manandhar suggests, it would be wise to merge airline companies. That would increase the fleet size, the capital base and the reach. The merger of companies &nbsp;would also help them operate by being one robust company.</p>
<p>
	<strong>Binita Sharma, Pokhara</strong></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '0000-00-00',
			'keywords' => 'Airlines Merger, Feedback, New Business Age',
			'description' => 'As TR Manandhar, Director General of CAAN, said (New Business Age, April 2013) the number of airlines is higher than what the  market can sustain.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '992',
			'article_category_id' => '52',
			'title' => 'Political Copycats',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal’s private sector seems to have extracted every possible evils from our debasing political environment. The country’s business community is always expected to set good examples of best practices, leadership, magnanimity and vision that could be replicable even by politicians. Sadly though, these supposedly rich, learned, professional and responsible business leaders themselves seem determined to ruin umbrella business organizations like FNCCI (Federation of Nepalese Chamber of Commerce and Industry) and NCC (Nepal Chamber of Commerce), thus far largely saved from the meanness of dirty politics.</p>
<p>
	All but one out of a dozen former presidents of FNCCI boycotted the 47th AGM of the organization held in the first week of April, allegedly protesting the ‘unprofessional’ behaviour of the incumbent President. The past presidents are also ex-officio advisers to the organization and, failure of the entire brigade to turn up in the event was indeed an unwanted precedent.</p>
<p>
	Existence of lobbies in such organizations is but natural. Albeit, it is the responsibility of the leadership to accommodate the differing views within organization and address the genuine concerns of members. But the opponents argue that ever since his election, the present president has been inaccessible and impervious to the well-being of the institution. Without going into the exercise to verify the truth behind this claim, it can be safely concluded that the leaders of the chambers are finding it hard to reconcile their businessman traits (that in Nepal requires being selective in socializing) and social leader traits (that virtually requires complete sacrifice of private life). &nbsp;&nbsp;</p>
<p>
	Likewise, 60th AGM row in the country’s oldest organization of the business community, NCC, has invited shameful hostilities between the lobbies of President Suresh Basnet and Vice-president Lokmanya Golchha. It went to the extent that the Golchha lobby held a separate press conference in early April alleging Basnet of taking the entire organization for ransom. Before that, the office was padlocked for almost a month, ironically, at the behest of the incumbent president.&nbsp;</p>
<p>
	Both in FNCCI and NCC, lust for clinging to power who are already in positions or ousting the incumbent by any means by the opponents are at the heart of all these misadventures. All of them seem to have forgotten the values of democracy and importance of fairness in the game of ballots. Equally so, those in the hot seats have failed to uphold the dignity their respective positions deserved. Instead, they seems to have either believed in no-inclusive decision making or use of extraneous tricks other than winning the heart of own constituencies to remain in or gain crucial positions. This is exactly what our business leaders have learnt from our politicians and political culture -- undermine democracy and dance haywire, shamelessly in public.</p>
<p>
	&nbsp;This is perhaps the time the country’s private sector came up with some prescription to revive sluggish economy. The GDP growth rate for this year is predicted to less than 3.5 percent and contribution of the manufacturing and formal business sector is even negligible. This unimpressive performance of the economy without any strikingly visible barrier to growth manifests even cancerous trend of gradual decay. It is the private sector that should now come-up with a blue-print for its rescue.</p>
<p>
	There are other more serious business for business leaders than political-type bickering among themselves. The private sector has constantly blamed to the unstable and hostile politics for Nepal being unable to attract the foreign investment, among other. But, international business community has started to doubt on the very credentials of Nepal’s private sector. One of the crucial questions asked is why the real sector has chosen not to be transparent and failed to even register in the stock market. This issue entails other number of inherent deficiencies in our corporate sector. And, one more deficiency is added spatially by the growing unprofessionalism and animosity within the community, that must be contained and corrected, sooner the better.</p>
<p>
	<img alt="Political Copycats, From the editor" height="296" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/from_the_editor_mar2013_political_copycats(1).jpg" width="590" /></p>',
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			'keywords' => 'Political Copycats, From the editor, New Business Age',
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	(int) 11 => array(
		'Article' => array(
			'id' => '991',
			'article_category_id' => '31',
			'title' => 'Developing Countries Offer  A Great Deal Of Opportunity For Our Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><span style="font-size: 12px;">Pradeep Kumar acquired his Bachelor in Technology from GB Pant University, Pantnagar. He also earned a Master in Business Administration from Bhartya Vidya Bhawan. He has 30 years of extensive experience in the field of Farm Machinery, Material Handling and Construction Equipment. He has worked with Eicher Tractors Ltd. India from 1978 until 1984, being in charge of sales and service operations. Subsequently, he has worked with Escorts Construction Equipment Ltd. from 1984 until 2001 and Escorts Ltd. from 2001 until 2005 as a General Manager for both companies. During this period, he has been responsible for various functions including business development, sales and marketing of material handling, construction equipment (like mobile cranes, loaders, vibratory road rollers etc.) and exports of tractors. He joined Mahindra and Mahindra Ltd. in August 2005.</span></strong></p>
<p>
	 </p>
<p>
	Pradeep Kumar, Vice President of Mahindra and Mahindra for international operations of Auto &amp; Farm sectors in Asia and Australia, was recently in Nepal when he talked to Sujan Dhungana of New Business Age about his company’s business in Nepal.&nbsp;</p>
<p>
	<strong style="font-size: 12px;">Excerpts:&nbsp;</strong></p>
<p>
	<strong style="font-size: 12px;">What brings you to Nepal?</strong></p>
<p>
	I have visited Nepal several times in the past because it is a strategic market for Mahindra. We are market leaders in the utility vehicle segment and tractors, with two brands, Mahindra and Swaraj. Both brands, together, account for more than 38 percent of market share in the tractor business. We are here to launch our product, the Mahindra XUV 500, a world class SUV which is now blazing a trail across India, Australia, South Africa and Italy . This is one of the most successful vehicles we have launched in India and its demand is increasing.</p>
<p>
	Moreover, this year, I am proud to announce that we have completed 22 years of successful association with our Nepal distributor, Agni, and we would like to use this occasion – the launch of our new 3S facility – as a chance to interact with our local customers and to provide them with the best service possible.</p>
<p>
	<strong>What makes Mahindra stand out in the market?</strong></p>
<p>
	Our products have been developed as per market demand. &nbsp;We have always kept the customer in focus while designing our products, which are reliable. Moreover, the fact that we have won various quality related awards is a testimony of our attention focused on this area.&nbsp;</p>
<p>
	<strong>When did your company start exporting?</strong></p>
<p>
	We have been exporting our vehicles since the 1960’s but the real growth in export volumes has been experienced within the last ten years.</p>
<p>
	<strong>How is the performence of the products you are currently supplying in Nepal?</strong></p>
<p>
	In Nepal, we supply Mahindra vehicles with annual sales crossing 2000 numbers. We also sell tractors with both the Mahindra and Swaraj badge, with annual sales of about 2000 numbers. We are currently focusing on expanding our product range in all the segments we are present in.</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	There is a big demand of our products and our sales are also rising here. &nbsp;The Nepal market is a vital one for us.</p>
<p>
	<strong>Why should a consumer choose your products?</strong></p>
<p>
	Aside from the fact that the Mahindra brand is associated with trust, durability and reliability, we have always prided ourselves on high service levels. We keep the customer and his or her needs in mind when designing our products and we focus on getting better technology, services and operating costs.</p>
<p>
	<strong>How do you see the South Asian market? &nbsp;</strong></p>
<p>
	The competition is very fierce in this market. South Asian and other developing countries offer a great deal of opportunity for our business. We have been present in this region for a while now and have grown and evolved along with the rapidly changing 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 a very competitive market. The size of the market has decreased but we are confident about the prospects for growth. Mahindra is focusing on customer centricity and ensuring a robust after sales network along with our dealer, Agni.</p>',
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			'keywords' => 'Developing countries offer a great deal of opportunity for our business, Visiting Business People, Pradeep Kumar',
			'description' => 'Pradeep Kumar, Vice President of Mahindra and Mahindra for international operations of Auto & Farm sectors in Asia and Australia, was recently in Nepal when he talked to Sujan Dhungana of New Business Age about his company’s business in Nepal.',
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			'id' => '990',
			'article_category_id' => '73',
			'title' => 'Investment Friendly Environment Is Needed To Attract Foreign Investors',
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			'summary' => null,
			'content' => '<address>
	<strong style="font-size: 12px;">Alf Arne Ramslien</strong></address>
<address>
	<strong style="font-size: 12px;">Ambassador</strong></address>
<address>
	<strong style="font-size: 12px;">The Royal Norwegian Embassy, Nepal</strong></address>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong>How has your experience in Nepal been?</strong></p>
<p>
	I have been very delighted by coming to Nepal and have felt much welcomed. Coming to Nepal has been a very special experience and I regard Nepalis second only to Norwegians personally. I have spent over 20 years in this sub continent and I really appreciate Nepali people.</p>
<p>
	<strong>Nepal’s political situation is in transition period. What are your comments on this?</strong></p>
<p>
	I am very much pleased that political parties are slowly moving ahead. I believe that we should have great respect for complexity of things. It has also been recognized that Nepal’s peace process stands to be one of the most successful peace processes ever in the world. Moreover, it has been demonstrated that not a single bullet has been fired after the peace process. The important thing is that the Maoist commanders are now being integrated in the Nepali Army. These factors show that Nepal’s politics is moving to a brighter side.</p>
<p>
	<strong>So, how do you assess Nepal’s economic situation?</strong></p>
<p>
	We have to regret the fact that Nepal’s potential for economic development has not been tapped. Nepal has tremendous potential, basically linked to the hydropower energy areas. Hydropower is, in fact, the backbone of Nepal’s future, both socially and economically. Only 0.4 percent of the total commercial resources of hydropower have been tapped properly. The irony is that over 100 years have been spent in harnessing only 0.4 percent of the total capacity.</p>
<p>
	<strong>Hydropower is one of the areas Norwegian government has been focusing on in Nepal. What is your assessment of effectiveness of such aid?</strong></p>
<p>
	It is a fact that we have kept hydropower as our top agenda here in Nepal and it is because the sector has core potential in the country. We are supporting the government here in building up the competence. The largest percent of hydropower related human resources in Nepal are educated in Norway. Similarly, we have extensive institutional cooperation between institutions related to electricity. In order to redefine and grasp the potentiality of different river sources, regarding the generation of electricity, various researches and programmes are being initiated by Norway. We also have a policy that supports the government in selling up transmission lines. For instance, we have invested in the transmission line from Upper Tamakoshi to Kathmandu, which is still an ongoing process. However, we are hoping to have a good development of investment-friendly environment &nbsp;in Nepal, so that foreign investors are attracted. Moreover, SN Power, a Norwegian company, is here in Nepal to invest in hydro and dialogue with the government is going on. They have shown keen interest in Tamakoshi-3 project.</p>
<p>
	<strong>What reasons do you find behind Nepal’s inability to meet its potentiality in energy?</strong></p>
<p>
	The reason to be highlighted is the lack of proper investment &nbsp;environment for the private sector in the past. There has been no direct investment from government itself to invest a huge amount in the energy sector. However, it is a good thing that now the investment in energy sector has been made open for the private sector. The next thing required is a reform in the responsible institutions. NEA, being a largest body, should be reformed and it has to be effective as the responsible authority.</p>
<p>
	<strong>What is the annual investment of Norway in Nepal?</strong></p>
<p>
	&nbsp;Investors are the private companies like SN Power. We are here to facilitate the people through grant basis. We are here to help stimulating processes and projects in coordination with the government. The budget spent is around 20 million US dollar. However, this is not the investment.</p>
<p>
	<strong>What are the other concerned areas of Norway in Nepal, besides energy?</strong></p>
<p>
	We pay high attention to the education sector of Nepal. We conduct various educational reform programmes. I would also personally give tribute to the educational success that Nepal has achieved. The whole world has recognized the achievement. &nbsp;According to the figure, almost 95 percent of the children are now attending school in Nepal. &nbsp;Beside this, good governance is also one of our core areas.</p>',
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			'description' => 'I have been very delighted by coming to Nepal and have felt much welcomed. Coming to Nepal has been a very special experience and I regard Nepalis second only to Norwegians personally. I have spent over 20 years in this sub continent and I really appreciate Nepali people.',
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			'id' => '989',
			'article_category_id' => '34',
			'title' => 'Norway: Nepal’s Reliable Development Partner',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>By Sujan Dhungana and Sushila Budhathoki</strong></p>
<p>
	Nepal established diplomatic relations with Norway, a constitutional monarchy in Northern Europe on January 26, 1973. Norway, opened a residential embassy in Kathmandu in January 2000. &nbsp;The Nepali Embassy in Copenhagen, Denmark, oversees the diplomatic activities with Norway as well because Nepal does not have a residential embassy there.</p>
<p>
	With a population of five million inhabitants, Norway is one of the five countries comprising the Nordic Region while it remains outside the European Union. An increasing demand for a wide range of quality imported goods and services of all kinds make it the right country for exportable products and quality services. Norway, a modern and highly developed country, has a strong and stable economy. It has achieved enviable progress in human development. According to the UNDP’s Report in 2010, Norway heads the group of 42 very high human development countries being world’s first country in terms of human development. Norway also has the second highest GNP per capita in the world (USD 55,600) in terms of purchasing power parity.&nbsp;</p>
<p>
	Norway’s economy is essentially based on the exploitation of its natural resources, mainly oil, gas, hydroelectric power, forests and minerals. &nbsp;Oil production dominates the economy, accounting for nearly a quarter of the GNP. Norway is also a major producer and exporter of natural gas. &nbsp;The service sector in Norway is also a highly developed one. Norway’s agriculture contributes to about 2% of the GNP and fishery is a major activity, making Norway the biggest exporter of fish in the world.&nbsp;</p>
<p>
	<strong>Visit exchanges</strong></p>
<p>
	The number of visits at different levels from both sides depicts the increasing interests between Norway and Nepal and has helped in strengthening the relationship between the two countries. Prime Minister Jens Stoltenberg paid a one-day visit to Nepal on February 8, 2008. Foreign Minister, &nbsp;Knut Vollebaek, also visited Nepal in January 2000. Similarly, in June 2012, Minister for International Development, Heikki Holmas, visited the country and the Minister for Environment and Development, Erik Solheim, paid a visit &nbsp;in January 2012. Earlier, he had visited Nepal twice in different ministerial capacities. &nbsp;</p>
<p>
	The then Prime Minister, Pushpa Kamal Dahal, paid an official visit to Norway in March 2009 and Upendra Yadav, Minister for Foreign Affairs, participated in the International Conference entitled “Melting Ice – Regional Dramas, Global Wake-up Call” in April in the same year. Earlier, the then Minister for Foreign Affairs, Chakra Prasad Bastola, &nbsp;also travelled to Norway in September 2000 responding to an invitation of &nbsp;the Norwegian Foreign Minister.&nbsp;</p>
<p>
	<strong>Norway’s support</strong></p>
<p>
	Norway has been voluntarily supporting different projects in Nepal through different NGO’s and bilateral organization since 1960s. The country has regularly provided aid to different sectors in Nepal and has supported different development projects. Some of the sectors covered by Norwegian aid are climate, environment and food production, conflict prevention and resolution and peace and security. There are other sectors also subsidized by Norway such as education, energy generation and supply, government and civil society, among others. The aid from Norway to Nepal is consistent since 2009 (See graph).&nbsp;</p>
<p>
	The Government of Norway has provided NOK 30.6 million for Nepal Peace Trust Fund. This country is also taking the initiative on the third country resettlement of Bhutanese refugees. According to the Ministry of Foreign Affairs Nepal, Norwegian firms have invested Rs. 1135 million in 12 various projects in Nepal, which have generated 726 employment opportunities until July 2012. Norway also supports Nepal through UN agencies, good governance and private sector development, focused on hydropower and electrification. It is also supporting Rural Renewable Energy and Development through Energy Sector Assistance Program (ESAP), which has provided significant results in terms of improving cooking stoves and rural electrification (solar home systems and micro hydro). Regarding the academic field, Norway &nbsp; offers NORAD (Norwegian Agency for Development Cooperation) annual fellowships to Nepali students in different fields of studies.&nbsp;</p>
<p>
	<strong><img alt="Aid from the Royal Norwegian Embassy" height="623" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(3).jpg" width="517" /><br />
	</strong></p>
<p>
	<strong>Cooperation</strong></p>
<p>
	The cooperation between the two governments started with the signing of a memorandum of understanding (MoU) in 1996. &nbsp;According to Royal Norwegian Embassy, the cooperation is based on shared dedication to achieve the Millennium Development Goals (MDGs). Norway has been prioritizing key areas of cooperation in four sectors, namely peace building, democracy and inclusive governance, education and energy. There are cross- cutting issues like peace and human rights, environment, gender and equality and anti-corruption for all projects .&nbsp;</p>
<p>
	Norway has been a key partner to Nepal in exploiting hydropower resources. The country has a number of &nbsp;cooperation in the hydro power sector in Nepal. Some of them are Himal Hydro and General Construction Company, Butwal Power Company, Himal Power Ltd, National Hydro Power Co. and Nepal Hydro and Electric Pvt. Ltd. &nbsp;According to the Royal Norwegian Embassy, Norway is currently focusing in three thematic areas, namely accelerated hydro power development, rural renewable energy and development and technical energy research in energy sector. &nbsp;</p>
<p>
	Norway is also interested in supporting Nepal when conducting a feasibility study of different large scale projects. The Royal Norwegian Embassy in Nepal is currently working on developing new plans to support Nepal regarding energy sector; the Norwegian mission in Nepal has posted on its website. &nbsp;Moreover, with the 60 per cent financial contribution from NORAD, Turbine Testing Lab of Kathmandu University is running a three- year project which started in August 2010. &nbsp;According to Kathmandu University, the project would give a platform and foundation for associated professional parties to come together and create a turbine manufacturer in Nepal.&nbsp;</p>
<p>
	<img alt="Trade with Norway" height="221" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(1)(1).jpg" width="446" /></p>
<p>
	<img alt="Tourist arrival in Nepal from Norway" height="248" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="220" /></p>
<p>
	<strong>Trade and Tourism</strong></p>
<p>
	The agreement on avoidance of double taxation with Norway, signed in 1996, has been regarded as one of the reasons behind the growing trade between both countries. &nbsp;The trade figure of TEPC (Trade and Export Promotion Center) shows the growing trade both in imports and exports &nbsp;between the two countries. &nbsp;Nepal exported goods worth Rs 41.37 billion in 2009. In 2012 it was Rs 52 billion. Similarly, it imported goods worth Rs 22.52 billion and Rs 96 billion in the year 2009 and 2012 respectively. Thus Nepal had a trade surplus in 2009 and 2010, but in the recent years Nepal has a trade deficit.&nbsp;</p>
<p>
	Norway is the first country to register Nepali Pashmina products. Nepal mainly exports products such as paperboard, articles of paper pulp, coffee, tea, essential oils, cosmetics or toilet preparations, ceramic products and carpets among others. The imports from Norway are comprised of products like fish and crustaceans, aluminum, rubber, boilers, machinery or mechanical appliances. The flow of Norwegian tourists visiting Nepal is also rising. According to the data provided by the Ministry of Foreign Affairs, Norwegians are among major tourists visiting Nepal.&nbsp;</p>
<p>
	<img alt="Facts and figures about Norway" height="420" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(2).jpg" width="446" /></p>',
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			'description' => 'Norway has been supporting different projects in Nepal through different NGOs and bilateral organization since 1960s.',
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			'id' => '987',
			'article_category_id' => '37',
			'title' => 'Economic Policy’s Narrative Imperative',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>By Kemal Derviş</strong></p>
<p>
	<span style="font-size: 12px;">The best advice I received when taking up policymaking responsibilities in Turkey more than a decade ago was to take “a lot of time and care to develop and communicate the ‘narrative’ to support the policy program that you want to succeed.” The more that economic policy is subject to public debate – that is, the more democracy there is – the more important such policy narratives are.</span></p>
<p>
	The crisis faced by the European Union and the eurozone is a telling example of the need for a narrative that explains public policy and generates political support for it. A successful narrative can be neither too complicated nor simplistic. It must capture the imagination, address the public’s anxieties, and generate realistic hope. Voters often sense cheap populism.</p>
<p>
	European Central Bank President Mario Draghi provided such a narrative to the financial markets last July. He said that the ECB would do everything necessary to prevent the disintegration of the euro, adding simply: “Believe me, it will be enough.”</p>
<p>
	With that sentence, Draghi eliminated the perceived re-denomination tail risk that was highest in the case of Greece, but that was driving up borrowing costs in Spain, Italy, and Portugal as well. It was not a populist message, because the ECB does indeed have the firepower to buy enough sovereign bonds on the secondary market to put a ceiling on interest rates, at least for many months.</p>
<p>
	Central bankers, more generally, are typically able to provide short- or medium-term narratives to financial markets. US Federal Reserve Board Chairman Ben Bernanke provided his own by pledging that US short-term interest rates would remain very low, and the Bank of Japan’s new chairman, Haruhiko Kuroda, has just provided another by saying that he will double the money supply so that inflation reaches 2%.</p>
<p>
	While central bankers can provide such narratives to financial markets, it is political leaders who must provide the overall socioeconomic messages that encourage long-term real investment, electoral support for reform, and hope for the future. Central bank alchemy, to borrow a term from the US journalist Neil Irwin’s new book, has its limits.</p>
<p>
	Europe, in particular, needs a narrative of long-term hope that will trigger a real recovery. France is coming closer to the danger zone, and even Germany’s annual GDP growth is falling well below 1% per year. In the meantime, the easing of sovereign interest-rate spreads provides little comfort to the growing army of unemployed in southern Europe, where youth unemployment has reached dramatic heights – close to 60% in Greece and Spain, and almost 40% in Italy.</p>
<p>
	The narrative should address three essential questions. How can the European model of strong social solidarity and security be reformed, but endure? How can economic growth be revived and sustained throughout the EU? And how can Europe’s institutions function with enhanced legitimacy to accommodate countries that share the euro and others that retain their national currencies?</p>
<p>
	For starters, a revolution is required in the organization of work, learning, and leisure. Social solidarity, essential to European identity, can and must include longer work lives, but also more work-sharing, adult learning, and shorter average work weeks (particularly close to retirement).&nbsp;</p>
<p>
	Such flexibility requires the consent of all: employees must adjust to changing requirements; employers must re-organize their enterprises to allow more work-sharing, work from home, and learning intervals; and governments must overhaul taxes, income support, and regulation to promote a “flex-solidarity revolution” that encourages personal choice and responsibility, while remaining committed to social cohesion. This can lead to a better future for all, with citizens gaining better access to adult education, having more free time to pursue personal interests, and remaining productive and occupationally engaged far longer into their healthy lives.</p>
<p>
	Europe does not need Asia’s rates of economic growth. It can secure decent jobs and prosperity, with a sustained annual growth rate of around 2%. To achieve that, German voters should be told not that their country’s resources will forever flow to Spain, but that their wages can rise at twice the rate of the recent past without risking inflation or a current-account deficit, because Germany has the world’s largest external surplus.</p>
<p>
	Service-sector industries throughout the EU must be opened up. The countries with stronger fiscal positions should take the lead in a major pan-European skill-upgrading program. The number of pan-European scholarships should be doubled. School programs everywhere should aim to educate trilingual citizens.</p>
<p>
	Moreover, a full European banking union with shared resources for resolution should be created without further delay. The European Investment Bank, which received a significant capital increase in 2012, should add a large investment-support program for medium-size enterprises to its current operations, with a subsidy financed from the European budget to encourage first-time job takers for a limited period. Jobs and training for young people must be the centerpiece for the new growth pact, and projects must move ahead in “crisis mode,” rather than according to business as usual.</p>
<p>
	Finally, while monetary union obviously requires greater sharing of sovereignty, there should also be a “greater Europe” that includes the United Kingdom and others. This implies two-tier institutions that can accommodate both types of countries: the “euro-ins” and those that prefer to preserve their monetary sovereignty in a larger Europe built around a vibrant single market and common democratic values.</p>
<p>
	These interconnected visions can and must be realized if Europe is to thrive again. Together, they form a compelling narrative that European leaders must begin to articulate.</p>
<p>
	<span style="font-size:10px;">Kemal Derviş, former Minister of Economic Affairs of Turkey and former Administrator for the United Nations Development Program (UNDP), is Vice-President of the Brookings Institution.</span></p>
<p>
	<span style="font-size:10px;">Copyright: Project Syndicate, 2013.</span></p>',
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			'title' => 'Real Madrid Overtakes Man Utd In Forbes Rich List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.</span></p>
<p>
	Forbes now values the Spanish giant at $3.3bn (£2.2bn), with Man Utd in second place on $3.17bn. Barcelona is third. Forbes said Real Madrid's financial success came despite the continuing woes of the Spanish economy.</p>
<p>
	"Real Madrid has been consistently delivering the highest revenues of any soccer team in the world, despite an intense economic meltdown in Spain," said Forbes. "With superstars like Cristiano Ronaldo on the pitch, and coach Jose Mourinho on the bench, Real Madrid has thrived under the leadership of billionaire president Florentino Perez."</p>
<p>
	In coming to its figures, Forbes looks at a football club's various revenue streams, such as television money, ticket sales, merchandise and concessions.</p>
<p>
	After Barcelona on $2.6bn, Forbes found that Arsenal was the fourth richest club, worth $1.33bn, followed by Bayern Munich ($1.31bn), AC Milan ($945m), Chelsea ($901m), Juventus ($694m), Manchester City ($689m) and Liverpool ($651m). David Beckham, now with French team Paris St-Germain, was the highest earning player, followed by Real Madrid's Ronaldo.&nbsp;</p>',
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			'keywords' => 'Real Madrid Overtakes Man Utd In Forbes Rich List, Global Biz Trends, New Business Age',
			'description' => 'Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.',
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		'Article' => array(
			'id' => '1003',
			'article_category_id' => '85',
			'title' => 'South Asia Regains Momentum But Faces Risks: World Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.</p>
<p>
	The combined growth of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka was just 4.7 percent in 2012, substantially below pre-crisis levels, according to the report.</p>
<p>
	A pick-up to 5.5 percent can be expected in 2013 with ongoing efforts to regain fiscal space and boost private investment, it said, adding that given the uncertain global environment, it will be important to strengthen the investment climate, noted the report.</p>
<p>
	"How countries manage their economies in the face of uncertainties in the global environment will be critical not only for addressing near-term current account and fiscal deficits but also for tackling South Asia's long-term challenges," said Martin Rama, chief economist for the South Asia Region at the World Bank.</p>
<p>
	The report, a twice-yearly look at South Asia's economic prospects, said that the region is now more vulnerable because current account balances have widened, foreign direct investment has slowed, and persistently high inflation has limited the ability for central banks to use monetary policy to counter any economic downturn.</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'South Asia Regains Momentum But Faces Risks: World Bank, Global Biz Trends, New Business Age',
			'description' => 'South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.',
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		'Article' => array(
			'id' => '1002',
			'article_category_id' => '85',
			'title' => 'Chinese Bank Tops Forbes Global 2000 List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.&nbsp;</span></p>
<p>
	Underscoring the power move by Chinese companies to top global rankings, China Construction Bank leaped 11 spots from last year to the number-two spot on the Forbes list of the world’s largest public companies. “This year’s list again reveals the dynamism of global business,” said Scott DeCarlo, the list editor.&nbsp;</p>
<p>
	Forbes said that ICBC -- The Industrial and Commercial Bank of China -- and CCB were bumped higher in the ranks by double-digit growth in both sales and profits in 2012, although annual profit growth for both banks was the slowest rate since they went public. ICBC brought in $37.8 billion in profits on $2.8 trillion in assets last yeat, while CCB earned $30.6 billion on $2.2 trillion in assets.&nbsp;</p>
<p>
	<span style="font-size: 12px;">“Most analysts don’t expect a banking crisis in China, but rising defaults and shrinking loan profitability are serious threats to the country’s banking system,” Forbes said. The rankings of the Forbes top 2000 are determined by an equal weighting of sales, profits, assets and market value.&nbsp;</span></p>
<p>
	Wall Street bank JPMorgan Chase, the world’s biggest company in 2011, slipped from number two in 2012 to number three in 2013 as sales dipped. US conglomerate General Electric moved down a notch to the fourth spot.. ExxonMobil, the US oil and gas giant, tumbled from its one-year reign at the top last year to the number-five spot, despite being the world’s most profitable company for the second year in a row with $44.9 billion in net income, Forbes said. Apple, which has vied over the past year with Exxon for the title of the world’s most valuable company by market capitalization, was tied at number 15 with Wal-Mart Stores.&nbsp;</p>
<p>
	Wal-Mart reclaimed the top perch as the word’s sales leader with 5.0 percent growth from Dutch-Anglo energy firm Royal Dutch Shell. Germany’s Allianz, South Korea’s Samsung Electronics, and US-based AT&amp;T joined the 25 top-ranked companies. Allianz gained the most ground, rising to 25th from 50th in last year’s list.&nbsp;</p>
<p>
	By country, the United States, adding 19 members, continued to dominate the list with 543 members, its highest total since 2009. Japan lost seven members, but at 251 remained the second-biggest country on the list. For the first time since the list began in 2004, Forbes said, China did not increase the number of its companies on the list. But it still had the third-largest presence with 136 members.&nbsp;</p>
<p>
	Forbes highlighted three Asian countries that showed standout overall growth in the list: Singapore, Thailand and Malaysia. &nbsp;Belgium, Turkey, and the United Arab Emirates had the biggest rise in company market values, growing by double digits from a year ago. Eleven countries had only one firm on the list, including New Zealand, the Czech Republic and Vietnam.</p>',
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			'created' => '2013-05-23',
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			'keywords' => 'Chinese Bank Tops Forbes Global 2000 List, Global Biz Trends, New Business Age',
			'description' => 'Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.',
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		'Article' => array(
			'id' => '1001',
			'article_category_id' => '85',
			'title' => 'Japan Reports Record Annual Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports. A weak yen, which has dipped nearly 20% against the US dollar since November, also boosted the value of the imports.</p>
<p>
	Analysts said the deficit was likely to shrink in the coming months as the weaker yen will help Japan's exports. The yen has dipped after policymakers introduced aggressive measures aimed at spurring a fresh wave of economic growth and stoking domestic demand.</p>
<p>
	Japan, which has traditionally been known for its exports, has seen a shift in its trade pattern in recent times. It has seen its imports rise, driven mainly by an increased demand for fuel. This was after most of its nuclear reactors were shut after the earthquake and tsunami in 2011 which damaged the Fukushima Daiichi nuclear plant and resulted in radiation leaks. As a result, utility providers have had to turn to traditional thermal power stations to generate electricity. These power plants need natural gas and coal to operate, resulting in a surge in imports of these commodities.</p>
<p>
	Meanwhile, its exports have been hurt by a slump in demand from key markets such as the US and Europe, while a territorial dispute has hurt sales to China. That has seen it report a deficit for nine straight months.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Japan Reports Record Annual Trade Deficit, Global Biz Trends, New Business Age',
			'description' => 'Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports.',
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		'Article' => array(
			'id' => '1000',
			'article_category_id' => '40',
			'title' => 'Revisiting Nepali Consumers: Facts, Trends & Business Impacts',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Many believe that Nepal is still an under-explored market given the potential it has. The market is growing and chances of further expansion are still very high due to the increased awareness and affordability of consumers. The world’s leading brands available in Nepal have created an environment in which consumers can expect to get what they want. &nbsp;Every product has been putting their effort to get a hold in the market by expanding their consumer-base.&nbsp;</strong></p>
<p>
	<strong>Based on Purchasing Power Parity (PPP) Nepal’s Per Capita Income has doubled in 32 years. Recently released Human Development Report 2013 by the United Nations Development Program (UNDP) has revealed that the gross national income (GNI) per capita in PPP increased by 101 percent to US$ 1,137 in 2012 compared to 1980. Inflow of remittance and an large portion of youth population has made Nepal a potential market to companies.</strong></p>
<p>
	<strong>In this issue, New Business Age provides marketers and companies with some interesting insights to know the changing consumers landscape in Nepal.</strong></p>
<p>
	<span style="font-size: 12px;">In the capital Kathmandu, varieties of goods and shopping places can be found within a few minutes from their homes. People can find products according to their affordability. There are varieties of price ranges and choices to consumers. Family run groceries are still the norm in Nepal, but supermarkets and malls are also doing good business.&nbsp;</span></p>
<p>
	Despite economic slowdown, the consumption of fast-moving consumer goods (FMCGs) has not dropped but constantly going up. Nepal has been witnessing satisfactory growth in per capita food and non-food consumption expenditure. Household consumption of fast moving consumer goods (FMCGs) has also gone up. Multiple factors have contributed in expansion of Nepal’s market.&nbsp;</p>
<p>
	The visible growth of Nepal’s economy, especially income of the people, over the last decade has put more money in the pockets of the country’s middle class, prompting retailers to target this group of consumers.&nbsp;</p>
<p>
	<strong>Census 2011</strong></p>
<p>
	In the report of National Population and Housing Census 2011 published by the CBS, the population of the country has grown to 26.6 million with 1.35 percent annual growth rate since the last census that was concluded in 2001.</p>
<p>
	Thus, Nepal is the market of 26.6 million consumers including 12.8 million male population and 13.64 female. The census report shows that Terai region constitutes of 50.27 percent (13.31 million) of the total population. Similarly, hilly and mountain areas constitute 43 percent (11.39 million) and 6.73 percent (1,781,792) respectively.</p>
<p>
	Highlights:</p>
<ul>
	<li>
		Population: 26,494,505</li>
	<li>
		Households: 5,427,30</li>
	<li>
		Average household size: 4.88</li>
	<li>
		Sex ratio (number of males per 100 females): 94.2 (Number of male per 100 female)</li>
	<li>
		Urban population: 17 per cent</li>
	<li>
		Population density (average number of population per square km): 180</li>
</ul>
<p>
	<strong>Age Groups and Corresponding Market</strong></p>
<p>
	The age of the consumer determines the type of products sellable in the market.&nbsp;</p>
<p>
	Normally, a young person is fashion conscious in the choice of products, while a middle-aged person is status conscious.</p>
<p>
	The age group of 10-14 years of the population is seen the highest (when compared to other 5-year gap intervals) in Nepal as per the 2011 census data. Also, the female population is slightly more than that of males. There are 13,645,463 women in Nepal, which accounts for 51.5 percent of the total population, while the number of males is 12.84 million. &nbsp;Higher population of women shows that the market of cosmetics items, clothing and boutiques are very good in the country.&nbsp;</p>
<p>
	<img alt="Age Groups and Corresponding Market, Cover Story, Revisiting Nepali Consumers" height="304" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_age_group_and_corresponding_market.jpg" width="506" /></p>
<p>
	<strong>Youth Population</strong></p>
<p>
	The census data shows that more than half of the population, about 55 per cent, is below 25 years of age. According to the 2011 census report, some 34.91 per cent of the population is aged below 14 years and another 19.97 per cent is aged between 15-24 years.</p>
<p>
	This is one of the reasons why many world players are coming and establishing their presence here in the Nepali market. Young Nepalis today expect a lot more from their lives, and often face pressure that was unfamiliar to earlier generations. Young people often want to keep up with global fashions and market trends. Their passion of following global fashion and trends has created many opportunities in Nepali market. Though Nepali population is mostly young, the size of old-age population has been increasing as well offering increased opportunity for business that provide goods and services to aged.&nbsp;</p>
<p>
	<strong>Family Size and the Family Life Cycle</strong></p>
<p>
	The buying decision in a large family is more complex as several individuals play different buying roles, such as that of initiator, influencer, prayer, buyer and users, economist Dr Chiranjivi Nepal says. He opines that the large families generally buy a single brand while small families are found to be more brand-switching. Consumers’ product varies according to the stage of their family life cycle. The consumption pattern of a bachelor is different from that of a man with several children.</p>
<p>
	The average household size of Nepal is 4.88 as per the 2011 census data. The household size of the urban and rural was seen 4.32 and 5.02 respectively. The largest household size was seen in Rautahat district with 6.44 and the lowest of 3.92 in Kaski district.</p>
<p>
	<strong>Remittance</strong></p>
<p>
	Around 1,500 Nepali workers go abroad for employment every day and it is their remittance that keeps the Nepali economy afloat, opines economist Nepal.&nbsp;</p>
<p>
	According to the World Bank, Nepal ranked 6th in the world among top remittance-receiving countries in 2011, with remittances making up 20 per cent of its GDP. A total of 56 per cent of the total households in Nepal receive remittances. Of which, 48 per cent comes from international labour migration, according to Central Bureau of Statistics. Accounting for more than 20 per cent of the GDP, migrant labourers brought in Rs 359 billion in the last fiscal year alone.</p>
<p>
	<img alt="Remittance, Revisiting Nepali Consumers" height="206" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_remittance.jpg" width="515" /></p>
<p>
	<strong>Education</strong></p>
<p>
	Of the total population, 39.04 percent are at the level of primary education. The male population dominated all the regions of the country in the literacy level. 65.94 per cent of the total population are literate (can read and write) in Nepal. &nbsp;2.52 percent of the population of Nepal can read only as per census data. Kathmandu has the highest literacy rate and Humla, the lowest with 86.3 per cent and 47.8 per cent respectively. The school enrollment of Nepal is seen at 95.1 per cent as per census data. This means over 95 per cent of school going age population is actually enrolled in schools. This indicates to very good market for educational material and education-related services.</p>
<p>
	<img alt="Population Aged 5 years and above by Literacy Status, Revisiting Nepali Consumers, Cover Story" height="215" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_population_5years_above_literacy_status.jpg" width="528" /></p>
<p>
	<strong>Toilet Use</strong></p>
<p>
	More than one-third, i.e., 38.17 per cent of the Nepali population does not have toilet facility. In Terai region, a total of 51.24 per cent of population are still without toilet facility.&nbsp;</p>
<p>
	However, the trend of constructing the flush toilet and squat toilet with septic tank is increasing in the country including both in the rural as well as in urban areas. Therefore, the business of sanitary ware has also been going up.&nbsp;</p>
<p>
	<img alt="Toilet Use, Revisiting Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_toilet_use.jpg" /></p>
<p>
	<strong>Rural Market&nbsp;</strong></p>
<p>
	Though the business volume may be big in Kathmandu and urban areas, Nepali villages offer very good markets in terms of the number of consumers as about 82.30 per cent of the population of the country is living in rural areas.&nbsp;</p>
<p>
	Interestingly even some parts of the urban population &nbsp;have rural consumption behaviour. And urban characters can be seen also in some rural areas due to the influence of remittance, for example. However, purchasing capacity of rural community is low compared to urban population. Rural population still depends on agricultural activities. The consumption habit, however, has been changing in the rural areas too. One reason is the road access and the other is education. Also the availability of electricity and cable TV as well as opening of cinema halls in those rural areas have been changing the consumption habit in rural Nepal.</p>
<p>
	Many companies have been launching products targeting the rural population. Comparatively low-cost products and micro-packing are main strategies adopted by companies to get a hold in rural areas.&nbsp;</p>
<p>
	<img alt="Rural Market, Revisiting Nepali Consumers, Cover Story" height="86" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_rural_market.jpg" width="390" /></p>
<p>
	 </p>
<p>
	<strong>Fuel</strong></p>
<p>
	According to National Population Census 2011, Nepal still relies heavily on firewood to fulfill its fuel demand for the purpose of cooking. However, the consumption of Liquefied Petroleum Gas (LPG) has significantly increased in the recent years which has created lots of space for the business of LPG stoves, regulators, pipes, cylinders and other necessary accessories.&nbsp;</p>
<p>
	One interesting fact about source of fuel for cooking is that big urban districts like those in the capital (except Lalitpur), Parsa, Kaski and Morang do not feature among the top users of electricity. Obviously the frequent power outage and cheap price of LP Gas have prompted the households ot shift to LP Gas in those districts.</p>
<p>
	<img alt="Fuel, Revisiting Nepali Consumers, Cover Story" height="717" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_fuel(1).jpg" width="389" /></p>
<p>
	<strong>Lighting Sources</strong></p>
<p>
	Electricity is seen as the major source of lighting for Nepali households. Total of 67.26 percent of the population is using electricity as the source of lighting. Similarly, kerosene is the second major source of lighting (18.28 per cent). But these households suffer from frequent power outage.</p>
<p>
	This has created much opportunities for the traders of invertors and batteries as well as solar power systems.</p>
<p>
	Therefore, business of electricity accessories such as bulbs, wires, poles and ceiling lights is doing well in Nepali market. At the same time, business of solar energy has also gone up and possibility of bio-gas related business is also very high in the Nepali market.&nbsp;</p>
<p>
	<strong><img alt="Lighting Sources, Revisiting Nepali Consumers, Cover Story" height="607" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_lightening_sources.jpg" width="385" /><br />
	</strong></p>
<p>
	<strong>Religious Cultural Factors</strong></p>
<p>
	In September 2012, World’s famous fast food chain McDonalds launched its first vegetarian restaurants in India targeting Indian Hindu. The reason of launching vegetarian products was obvious that McDonalds did not want to lose Hindu consumers.&nbsp;</p>
<p>
	Cut-throat competition among various companies and outlets has created a scenario whereby all companies try to lure consumers by offering what they want. Nepal is multi-religion country and companies may want to tap consumers according to religion.&nbsp;</p>
<p>
	Consumer diversity is obviously very high in the country and creating more challenges for the marketers. There is diversity at multiple levels: ethnic and caste differences, religious diversities, rural-urban diversities, diversities in source of income and educational level along with others. Yet, there are many opportunities since the Nepali market is not fully explored so far. On top of all, Nepali consumers are very eager to try new products and services.&nbsp;</p>
<p>
	<img alt="Religious Cultural Factors, Revisitng Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_religious_cultural_factors.jpg" /></p>
<p>
	<img alt="Cultural Composition, Revisiting Nepali Consumers, Cover Story" height="393" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_religious_cultural_composition.jpg" width="496" /></p>
<p>
	<strong>Absent Population</strong></p>
<p>
	One in every four households (25.42%; 1.38 million households) reported that at least one member of their household is absent or is living out of country. Total number of absent population is found to be 1,921,494 in 2011 census against 762,181 in 2001. The highest proportion (44.81 percent) of absent population is from the age group 15 to 24 years. Gulmi, Arghakhanchi and Pyuthan districts reported the highest proportion of their population being absent (staying abroad).</p>
<p>
	<img alt="Top five Absent Population District, Revisiting Nepali Consumers, Cover Story" height="153" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_absent_population_district.jpg" width="595" /></p>
<p>
	<img alt="Top Ten Destination of Migrant Nepali Workers, Revisiting Nepali Consumers, Cover Story" height="764" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_remittance_migrant_workers.jpg" width="380" /></p>
<p>
	 </p>
<p>
	<strong>Media Consumption</strong></p>
<p>
	The media consumption patterns, profiles of audiences on different platforms and media types, and the effectiveness of advertising across platforms have been significantly changed over the last decade.&nbsp;<span style="font-size: 12px;">Consumers concentration has been shifted to the television from radio, according to Managing Director at JWT-Thompson Nepal Joydeb Chakravarty. “Ten years back the national media was radio but today more people watch television,” he says.&nbsp;</span></p>
<p>
	<span style="font-size: 12px;"><img alt="Media Consumption, Revisiting Nepali Consumers, Cover Story" height="262" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_media_consumption.jpg" width="521" /><br />
	</span></p>
<p>
	<strong>Computer and Internet</strong></p>
<p>
	Computers and Internet products are also growing day by day. The number of Internet users in Nepal has accelerated in the country. Access to the Internet has positive implications for society and the economy. A study carried out by Computer Association of Nepal (CAN) last year showed that the computer penetration rate in the country had crossed five per cent. The survey was carried out based on the record of import of computer monitors and branded laptops, according to CAN general secretary Narayan Neupane. The penetration rate of computer at present may have crossed eight, he says, adding that the trend of using computers is on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for their day-to-day activities.&nbsp;</p>
<p>
	<img alt="Computer and Internet, Revisiting Nepali Consumers, Cover Story" height="171" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_telephone.jpg" width="531" /></p>
<p>
	<strong style="font-size: 12px;">Automobiles</strong></p>
<p>
	Nepal has been seeing the penetration of two- and four-wheelers increasing at a rapid pace, thanks to the expansion of road connectivity and increased income of citizens. Expansions of road network throughout the country and a steep rise in the number of migrant workers have played a catalytic role in the growth of automobile sales.&nbsp;</p>
<p>
	So, many automobile brands have been able to establish themselves and automobile has become one of the largest customs duty contributors in the country. Nepali consumers have been using four-wheeler ranging from the most expensive one to the cheapest Nano car. Similarly, Nepal-assembled brands such as Mustang and Sherpa has also been rolling on Nepali roads. &nbsp;</p>
<p>
	<img alt="Top three districts with various Vehicles facilities, Revisiting Nepali Consumers, Cover Story" height="280" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_vehicles.jpg" width="533" /></p>
<p>
	<strong>ICT and Mobile</strong></p>
<p>
	Not only telecom sector but also the market of entire Information and Communication Technology (ICT) has expanded over the last few years. As far as mobile market is concerned, Nepal has approximately Rs 15 billion transaction every year, according to chairman of Mobile Traders Association of Nepal Purushottam Basnet. Nepal has been very potential market for mobile phone sets and other ICT products.</p>
<p>
	<img alt="Top three districts with ICT and Mobile, Revisiting Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_ict_mobile.jpg" /></p>
<p>
	<strong>Home Appliances&nbsp;</strong></p>
<p>
	Sales of the home appliances have tremendously increased over the last year. The sales of refrigerators, washing machines, vacuum cleaners, LEDs and LCDs has boosted in the recent years. Besides, people living in urban areas are continuously upgrading their living standards, and home appliances are deemed as components that add value to their living condition. The market of home appliances has also increased in the rural areas too.&nbsp;</p>
<p>
	<img alt="Top three districts with  Refrigerator facilities, Revisiting Nepali Consumers, Cover Story" height="160" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_home_appliances.jpg" width="532" /></p>
<p>
	<span style="font-size: 12px;">Consumer diversity is obviously very high in the country and creating more challenges for the marketers. There is diversity at multiple levels: ethnic and caste differences, religious diversities, rural-urban diversities, diversities in source of income and educational level along with others. Yet, there are many opportunities since the Nepali market is not fully explored so far. On top of all, Nepali consumers are very eager to try new products and services.&nbsp;</span></p>',
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			'article_category_id' => '40',
			'title' => 'Young Consumers Have Smart Perspective On How To Spend Money',
			'sub_title' => '',
			'summary' => null,
			'content' => '<address>
	<strong>Mani Raj Dahal</strong></address>
<address>
	<strong>Country Manager</strong></address>
<address>
	<strong>The Nielsen Company Nepal Pvt Ltd</strong></address>
<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">It is very important to assess how the market is doing and what the current trends of consumption are to revisit the consumers. Nepal is still an unexplored market in many fields and, therefore, it offers possibilities of market expansion to companies. It is worthwhile to mention here that the spending and consumption habit of consumers are positive in Nepal, despite the huge political problems the country is going through.&nbsp;</span></p>
<p>
	<strong>Rising Consumerism&nbsp;</strong></p>
<p>
	There is a tremendous potential in the country for companies to expand their products and services.&nbsp;<span style="font-size: 12px;">The swelling consumerism has seen the introduction of a range of new products like ready-to-eat snack foods, breakfast cereals, textures vegetable protein foods and so on. Different brands of the same item and attractive packaging vie &nbsp;for the consumers’ attention.</span></p>
<p>
	<strong>Spending Capacity</strong></p>
<p>
	The increased spending capacity of consumers is really a good sign in the Nepali market. &nbsp;The inflow of remittance and tourism have contributed to increase the income of consumers. The purchasing power of consumers has a direct impact on the market expansion.&nbsp;</p>
<p>
	Every investor asks some questions before starting a business: how big is the market and what are the possibilities of growing? And the scenario in Nepal is not so bad. Though Nepali market is not that big, there’s enough room for new companies and brands.&nbsp;</p>
<p>
	<strong>Youth Focused Market</strong></p>
<p>
	At present, the consumption of Nepali young generation forms a thriving market. Young consumers are usually impressed with branded and quality goods and services then being purely price sensitive . Companies and service providers can take advantage of this to further set up their brand image.<span style="font-size: 12px;">The young generation enjoys a staggering amount of purchasing power in the country due to foreign employment and inflow of remittance. Young consumers not only have money, but also have smart perspectives on how to&nbsp;</span><span style="font-size: 12px;">spend money.&nbsp;</span></p>
<p>
	<strong>Consumerism and Socialisation</strong></p>
<p>
	It is really interesting to mention here that Nepali culture has changed over the years due to technology and consumerism.&nbsp;<span style="font-size: 12px;">Our socialization process has changed, compared to some years ago. Lifestyle and consumption habits are considered to be the main reason for the socialization and it is obvious that the process of socialization has changed throughout the last one or two decades. For instance, we can take café culture, business in Valentine Day or may be English New Year.&nbsp;</span></p>
<p>
	<strong>Nepali Products</strong></p>
<p>
	Entrepreneurship is something that will help the country to achieve sustainable development. The chances of entrepreneurship are very high in Nepal, all we need is creative minds and creative ideas. In Nepal, the chances of branding local products are very high. Nepali people are very much habituated to consume Nepali food and drinks trend and young entrepreneurs can establish Nepali brands of that sector. The typical Nepali style goods are also making their brands .</p>
<p>
	<strong>Price Hike Impact&nbsp;</strong></p>
<p>
	It is an interesting fact that in Nepal, despite the frequent price hike of Fast-moving Consumers Goods (FMCG), the market has not seen a drop in the demand of such goods. This indicates that consumers have got the capacity and are willing to pay more for the products of their choice of consumption.</p>',
			'published' => true,
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			'keywords' => 'Young Consumers Have Smart Perspective On How To Spend Money, Cover story, New Business Age, May 2013',
			'description' => 'Entrepreneurship is something that will help the country to achieve sustainable development.',
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		'Article' => array(
			'id' => '998',
			'article_category_id' => '40',
			'title' => 'When You Build Your Own Brand You Are Able To Command A Premium Rate',
			'sub_title' => '',
			'summary' => null,
			'content' => '<address>
	<strong><span style="font-size: 12px;">Joydeb Chakravarty</span></strong></address>
<address>
	<strong>Managing Director</strong></address>
<address>
	<strong>JWT-Thompson Nepal</strong></address>
<p></p>
<p>
	<strong style="font-size: 12px;">Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">Some experts say that Nepal is still an untapped and unexplored market. Do you agree?</strong></p>
<p>
	Nepal was first country in the region to be exposed to international brands. Some 30 years back, India did not have the access and exposure to the brands that were here in Nepal. Nepali consumers have always been exposed to these kinds of international brands for last 30-40 years. So, when local brands try to enter this market they find it a challenge because consumers benchmark it with international brands that they have already used. It could be in any category, but the consumers give it a fair trial and if it does not meet their expectations then they have no hesitation in rejecting it. The Nepali consumers are very discerning indeed!</p>
<p>
	<strong>Can you please tell us some major differences in the consumers’ behavior in the past and present?</strong></p>
<p>
	Today the consumers have a different kind of exposure because of the reach and penetration of the international media. This has had very large impact to the consumers’ psyche. When you look at the way people dress, we see they are following the world’s leading trends. Nepali consumers’ tastes and trends have evolved over the last couple of decades. Look at the way they have embraced new technology, new gadgets and even smart phones. Look at two wheeler sector, earlier people went for something functional but not anymore. Now they want a higher-end bike to go with their perceived self-image. People have a much higher level of aspiration now, and want to show that through their material possession.&nbsp;</p>
<p>
	<strong>What are the practices of the companies regarding study of consumers’ buying behavior in Nepal?</strong></p>
<p>
	Client and organizations in Nepal are talking about research. Although, they might not always employ a professional research agency, they might want to do research in-house, through their own team, which is not the right way to do it, but it still goes some way. Earlier there a few companies who actually believed in market and consumer research but that’s changed. We now see that clients and companies are talking about research, which is a very positive sign.</p>
<p>
	<strong>How is the branding practice in Nepal? How important is branding from your perspective?</strong></p>
<p>
	Branding has caught on over the last two decades. Everything now seems to be branded. I am just not talking about the consumer goods, but commodities which at one time were sold loosely are now branded. Companies have now come to realize and appreciate that when you build your own brand you are able to command a premium rate.</p>
<p>
	<strong>What is the media consumption habit of Nepali consumers right now?</strong></p>
<p>
	If you see the ownership in the durables likes colour television (63% in 2012 Vs 13% in 2003), radio, refrigerator and mobile phones have drastically increased. Ten years back the national media was primarily radio based but today there are more people watching television than listening to the radio. Obviously radio has not been able to catch the imagination the listeners, while television has caught on despite having more than 350 FM radio channels in Nepal. The print too have taken its toll, readership has gone down over the last ten years even though literacy has gone up. The reason could be the high cover price of newspapers. The usage of the internet has gone up drastically from 2% in 2002 to more than 25% in 2012.&nbsp;</p>
<p>
	<strong>How do you envisage the importance of advertisement to catch the emotional side of consumers?</strong></p>
<p>
	If you are unable to connect with your customers on an emotional level, you will not be able to engage with them meaningfully. Consumers today have many interests and they are not waiting to see your advertisements! Unless you are able to make an emotional connection with your customers; make your advertisements distinctive, emotional, entertaining and engaging otherwise you cannot hope to catch their attention.</p>
<p>
	<strong>What are the contributing factors in the quality of advertisements? What are the reasons behind low quality of advertisement in Nepal?&nbsp;</strong></p>
<p>
	Over the last few years the quality of advertisements has not matched the expectation of the Nepali consumers. &nbsp;There are many reasons for that, no one wants to take a ‘risk’ and everyone wants to ‘play safe’. Companies feel that if they come up with a “creative” advertisement it might go over the head of their audience. There is very little the advertising agencies can do in that kind of a scenario. This is also compounded by the severe shortage of creative people in the advertising sector. Moreover, top quality advertising production – especially films cost huge amounts of money. The market here is very small compared to other countries&nbsp;<span style="font-size: 12px;">in the region.&nbsp;</span></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '2013-05-22',
			'keywords' => 'When You Build Your Own Brand You Are Able To Command A Premium Rate, cover story, New Business Age',
			'description' => 'Nepal was first country in the region to be exposed to international brands. Some 30 years back, India did not have the access and exposure to the brands that were here in Nepal. Nepali consumers have always been exposed to these kinds of international brands for last 30-40 years.',
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		'Article' => array(
			'id' => '996',
			'article_category_id' => '50',
			'title' => 'New Year Hues',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	The rise of the middle and upper middle class and the growing income this sector of the society enjoys definitely have increased consumeriism. In the Nepali context, not only these factors have been contributing to the growing level of consumption of both FMCGs (Fast Moving Consumer Goods) and durables. The increasing remittance from migrant workers potentially goes for consumption too. Consumption is naturally the top priority for the families of the migrant workers with a humble economic background. &nbsp;However, it is important to note that these consumers are not considered to be brand conscious. Urban dwellers and, especially, the youths are the ones concerned and lured by the flashy brand names.&nbsp;</p>
<p>
	Various well known global brands have their presence in Nepal in different product categories. The festive seasons are the moments when there is an opportunity for these brands to potentially increase sales, more than in “normal days.” Consumers also want to make festivals a special occasion by shopping new goods. The New Year 2070 seems to be the perfect occasion: customers buy more and sellers try to sell more as well. To make this happen, business get involved in aggressive marketing strategies. This is an attempt to create a win-win situation for both.</p>
<p>
	<strong>Sangam Khadka, Baneshwor</strong></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '0000-00-00',
			'keywords' => 'New Year Hues, Feedback, New Business Age',
			'description' => 'The rise of the middle and upper middle class and the growing income this sector of the society enjoys definitely have increased consumeriism. In the Nepali context, not only these factors have been contributing to the growing level of consumption of both FMCGs (Fast Moving Consumer Goods) and durables.',
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		'Article' => array(
			'id' => '995',
			'article_category_id' => '50',
			'title' => 'Extend The Value Chain',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	I find New Business Age magazine loaded with relevant content. I believe that the reading habit of today’s youth is oriented towards byte sized articles. Additionally, articles could be more attractive and easier to comprehend with the use of graphics. Enlivening the contents in such a manner would be a challenge for contributory guest articles, but if the magazine could offer a way to do it and the approval from the author, the suggested improvements could be achieved. &nbsp;&nbsp;</p>
<p>
	I think that the core readers of this magazine are young executives and management students. What they really crave for is information - latest trends, developments, concepts, models… etc. I wonder, is it possible to feature an exec-summary with every issue that touches 5 to 10 important points under various categories For example, these could be latest concepts in H.R., governance, CSR, marketing, branding orleadership. Each point could be a 3-4 liner as in intro. The reader can do research by him or herself if the subject is relevant.</p>
<p>
	I believe that any educational forum or magazine (like this one) has a dual role to play: pass on domain knowledge and also imbibe certain values and attributes that make humans better. After all, the quality of a human being defines the way he or she &nbsp;operates in a value-challenged environment. Could your magazines carry a regular feature that helps the reader to understand the difference between pursuing success and excellence? Is the publication group into creating experiential platforms that bring alive the various theories propounded in these magazines? Such activities would extend the value chain and would go a long way to create domain leadership.&nbsp;</p>
<p>
	<strong>Manosh R. Sengupta, Brand-Parent, Nurturer, Mentor, brand-@itude</strong></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '0000-00-00',
			'keywords' => 'Extend The Value Chain, Feedback, New Business Age',
			'description' => 'I find New Business Age magazine loaded with relevant content. I believe that the reading habit of today’s youth is oriented towards byte sized articles. Additionally, articles could be more attractive and easier to comprehend with the use of graphics.',
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		'Article' => array(
			'id' => '994',
			'article_category_id' => '50',
			'title' => 'Airlines Merger',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	As TR Manandhar, Director General of CAAN, said (New Business Age, April 2013) the number of airlines is higher than what the &nbsp;market can sustain. In a condition where tourism is not yet at a peak, the domestic market for aviation in Nepal is still untapped and some rural destinations can be developed that can be reached more conveniently by air than by land. &nbsp;Airlines have been facing problems in generating profits because of the high operational cost and inadequate capital base. In the current situation, as Manandhar suggests, it would be wise to merge airline companies. That would increase the fleet size, the capital base and the reach. The merger of companies &nbsp;would also help them operate by being one robust company.</p>
<p>
	<strong>Binita Sharma, Pokhara</strong></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '0000-00-00',
			'keywords' => 'Airlines Merger, Feedback, New Business Age',
			'description' => 'As TR Manandhar, Director General of CAAN, said (New Business Age, April 2013) the number of airlines is higher than what the  market can sustain.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '992',
			'article_category_id' => '52',
			'title' => 'Political Copycats',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal’s private sector seems to have extracted every possible evils from our debasing political environment. The country’s business community is always expected to set good examples of best practices, leadership, magnanimity and vision that could be replicable even by politicians. Sadly though, these supposedly rich, learned, professional and responsible business leaders themselves seem determined to ruin umbrella business organizations like FNCCI (Federation of Nepalese Chamber of Commerce and Industry) and NCC (Nepal Chamber of Commerce), thus far largely saved from the meanness of dirty politics.</p>
<p>
	All but one out of a dozen former presidents of FNCCI boycotted the 47th AGM of the organization held in the first week of April, allegedly protesting the ‘unprofessional’ behaviour of the incumbent President. The past presidents are also ex-officio advisers to the organization and, failure of the entire brigade to turn up in the event was indeed an unwanted precedent.</p>
<p>
	Existence of lobbies in such organizations is but natural. Albeit, it is the responsibility of the leadership to accommodate the differing views within organization and address the genuine concerns of members. But the opponents argue that ever since his election, the present president has been inaccessible and impervious to the well-being of the institution. Without going into the exercise to verify the truth behind this claim, it can be safely concluded that the leaders of the chambers are finding it hard to reconcile their businessman traits (that in Nepal requires being selective in socializing) and social leader traits (that virtually requires complete sacrifice of private life). &nbsp;&nbsp;</p>
<p>
	Likewise, 60th AGM row in the country’s oldest organization of the business community, NCC, has invited shameful hostilities between the lobbies of President Suresh Basnet and Vice-president Lokmanya Golchha. It went to the extent that the Golchha lobby held a separate press conference in early April alleging Basnet of taking the entire organization for ransom. Before that, the office was padlocked for almost a month, ironically, at the behest of the incumbent president.&nbsp;</p>
<p>
	Both in FNCCI and NCC, lust for clinging to power who are already in positions or ousting the incumbent by any means by the opponents are at the heart of all these misadventures. All of them seem to have forgotten the values of democracy and importance of fairness in the game of ballots. Equally so, those in the hot seats have failed to uphold the dignity their respective positions deserved. Instead, they seems to have either believed in no-inclusive decision making or use of extraneous tricks other than winning the heart of own constituencies to remain in or gain crucial positions. This is exactly what our business leaders have learnt from our politicians and political culture -- undermine democracy and dance haywire, shamelessly in public.</p>
<p>
	&nbsp;This is perhaps the time the country’s private sector came up with some prescription to revive sluggish economy. The GDP growth rate for this year is predicted to less than 3.5 percent and contribution of the manufacturing and formal business sector is even negligible. This unimpressive performance of the economy without any strikingly visible barrier to growth manifests even cancerous trend of gradual decay. It is the private sector that should now come-up with a blue-print for its rescue.</p>
<p>
	There are other more serious business for business leaders than political-type bickering among themselves. The private sector has constantly blamed to the unstable and hostile politics for Nepal being unable to attract the foreign investment, among other. But, international business community has started to doubt on the very credentials of Nepal’s private sector. One of the crucial questions asked is why the real sector has chosen not to be transparent and failed to even register in the stock market. This issue entails other number of inherent deficiencies in our corporate sector. And, one more deficiency is added spatially by the growing unprofessionalism and animosity within the community, that must be contained and corrected, sooner the better.</p>
<p>
	<img alt="Political Copycats, From the editor" height="296" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/from_the_editor_mar2013_political_copycats(1).jpg" width="590" /></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '2013-06-07',
			'keywords' => 'Political Copycats, From the editor, New Business Age',
			'description' => 'Nepal’s private sector seems to have extracted every possible evils from our debasing political environment. The country’s business community is always expected to set good examples of best practices, leadership, magnanimity and vision that could be replicable even by politicians.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '991',
			'article_category_id' => '31',
			'title' => 'Developing Countries Offer  A Great Deal Of Opportunity For Our Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><span style="font-size: 12px;">Pradeep Kumar acquired his Bachelor in Technology from GB Pant University, Pantnagar. He also earned a Master in Business Administration from Bhartya Vidya Bhawan. He has 30 years of extensive experience in the field of Farm Machinery, Material Handling and Construction Equipment. He has worked with Eicher Tractors Ltd. India from 1978 until 1984, being in charge of sales and service operations. Subsequently, he has worked with Escorts Construction Equipment Ltd. from 1984 until 2001 and Escorts Ltd. from 2001 until 2005 as a General Manager for both companies. During this period, he has been responsible for various functions including business development, sales and marketing of material handling, construction equipment (like mobile cranes, loaders, vibratory road rollers etc.) and exports of tractors. He joined Mahindra and Mahindra Ltd. in August 2005.</span></strong></p>
<p>
	 </p>
<p>
	Pradeep Kumar, Vice President of Mahindra and Mahindra for international operations of Auto &amp; Farm sectors in Asia and Australia, was recently in Nepal when he talked to Sujan Dhungana of New Business Age about his company’s business in Nepal.&nbsp;</p>
<p>
	<strong style="font-size: 12px;">Excerpts:&nbsp;</strong></p>
<p>
	<strong style="font-size: 12px;">What brings you to Nepal?</strong></p>
<p>
	I have visited Nepal several times in the past because it is a strategic market for Mahindra. We are market leaders in the utility vehicle segment and tractors, with two brands, Mahindra and Swaraj. Both brands, together, account for more than 38 percent of market share in the tractor business. We are here to launch our product, the Mahindra XUV 500, a world class SUV which is now blazing a trail across India, Australia, South Africa and Italy . This is one of the most successful vehicles we have launched in India and its demand is increasing.</p>
<p>
	Moreover, this year, I am proud to announce that we have completed 22 years of successful association with our Nepal distributor, Agni, and we would like to use this occasion – the launch of our new 3S facility – as a chance to interact with our local customers and to provide them with the best service possible.</p>
<p>
	<strong>What makes Mahindra stand out in the market?</strong></p>
<p>
	Our products have been developed as per market demand. &nbsp;We have always kept the customer in focus while designing our products, which are reliable. Moreover, the fact that we have won various quality related awards is a testimony of our attention focused on this area.&nbsp;</p>
<p>
	<strong>When did your company start exporting?</strong></p>
<p>
	We have been exporting our vehicles since the 1960’s but the real growth in export volumes has been experienced within the last ten years.</p>
<p>
	<strong>How is the performence of the products you are currently supplying in Nepal?</strong></p>
<p>
	In Nepal, we supply Mahindra vehicles with annual sales crossing 2000 numbers. We also sell tractors with both the Mahindra and Swaraj badge, with annual sales of about 2000 numbers. We are currently focusing on expanding our product range in all the segments we are present in.</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	There is a big demand of our products and our sales are also rising here. &nbsp;The Nepal market is a vital one for us.</p>
<p>
	<strong>Why should a consumer choose your products?</strong></p>
<p>
	Aside from the fact that the Mahindra brand is associated with trust, durability and reliability, we have always prided ourselves on high service levels. We keep the customer and his or her needs in mind when designing our products and we focus on getting better technology, services and operating costs.</p>
<p>
	<strong>How do you see the South Asian market? &nbsp;</strong></p>
<p>
	The competition is very fierce in this market. South Asian and other developing countries offer a great deal of opportunity for our business. We have been present in this region for a while now and have grown and evolved along with the rapidly changing 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 a very competitive market. The size of the market has decreased but we are confident about the prospects for growth. Mahindra is focusing on customer centricity and ensuring a robust after sales network along with our dealer, Agni.</p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '2013-06-07',
			'keywords' => 'Developing countries offer a great deal of opportunity for our business, Visiting Business People, Pradeep Kumar',
			'description' => 'Pradeep Kumar, Vice President of Mahindra and Mahindra for international operations of Auto & Farm sectors in Asia and Australia, was recently in Nepal when he talked to Sujan Dhungana of New Business Age about his company’s business in Nepal.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '990',
			'article_category_id' => '73',
			'title' => 'Investment Friendly Environment Is Needed To Attract Foreign Investors',
			'sub_title' => '',
			'summary' => null,
			'content' => '<address>
	<strong style="font-size: 12px;">Alf Arne Ramslien</strong></address>
<address>
	<strong style="font-size: 12px;">Ambassador</strong></address>
<address>
	<strong style="font-size: 12px;">The Royal Norwegian Embassy, Nepal</strong></address>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong>How has your experience in Nepal been?</strong></p>
<p>
	I have been very delighted by coming to Nepal and have felt much welcomed. Coming to Nepal has been a very special experience and I regard Nepalis second only to Norwegians personally. I have spent over 20 years in this sub continent and I really appreciate Nepali people.</p>
<p>
	<strong>Nepal’s political situation is in transition period. What are your comments on this?</strong></p>
<p>
	I am very much pleased that political parties are slowly moving ahead. I believe that we should have great respect for complexity of things. It has also been recognized that Nepal’s peace process stands to be one of the most successful peace processes ever in the world. Moreover, it has been demonstrated that not a single bullet has been fired after the peace process. The important thing is that the Maoist commanders are now being integrated in the Nepali Army. These factors show that Nepal’s politics is moving to a brighter side.</p>
<p>
	<strong>So, how do you assess Nepal’s economic situation?</strong></p>
<p>
	We have to regret the fact that Nepal’s potential for economic development has not been tapped. Nepal has tremendous potential, basically linked to the hydropower energy areas. Hydropower is, in fact, the backbone of Nepal’s future, both socially and economically. Only 0.4 percent of the total commercial resources of hydropower have been tapped properly. The irony is that over 100 years have been spent in harnessing only 0.4 percent of the total capacity.</p>
<p>
	<strong>Hydropower is one of the areas Norwegian government has been focusing on in Nepal. What is your assessment of effectiveness of such aid?</strong></p>
<p>
	It is a fact that we have kept hydropower as our top agenda here in Nepal and it is because the sector has core potential in the country. We are supporting the government here in building up the competence. The largest percent of hydropower related human resources in Nepal are educated in Norway. Similarly, we have extensive institutional cooperation between institutions related to electricity. In order to redefine and grasp the potentiality of different river sources, regarding the generation of electricity, various researches and programmes are being initiated by Norway. We also have a policy that supports the government in selling up transmission lines. For instance, we have invested in the transmission line from Upper Tamakoshi to Kathmandu, which is still an ongoing process. However, we are hoping to have a good development of investment-friendly environment &nbsp;in Nepal, so that foreign investors are attracted. Moreover, SN Power, a Norwegian company, is here in Nepal to invest in hydro and dialogue with the government is going on. They have shown keen interest in Tamakoshi-3 project.</p>
<p>
	<strong>What reasons do you find behind Nepal’s inability to meet its potentiality in energy?</strong></p>
<p>
	The reason to be highlighted is the lack of proper investment &nbsp;environment for the private sector in the past. There has been no direct investment from government itself to invest a huge amount in the energy sector. However, it is a good thing that now the investment in energy sector has been made open for the private sector. The next thing required is a reform in the responsible institutions. NEA, being a largest body, should be reformed and it has to be effective as the responsible authority.</p>
<p>
	<strong>What is the annual investment of Norway in Nepal?</strong></p>
<p>
	&nbsp;Investors are the private companies like SN Power. We are here to facilitate the people through grant basis. We are here to help stimulating processes and projects in coordination with the government. The budget spent is around 20 million US dollar. However, this is not the investment.</p>
<p>
	<strong>What are the other concerned areas of Norway in Nepal, besides energy?</strong></p>
<p>
	We pay high attention to the education sector of Nepal. We conduct various educational reform programmes. I would also personally give tribute to the educational success that Nepal has achieved. The whole world has recognized the achievement. &nbsp;According to the figure, almost 95 percent of the children are now attending school in Nepal. &nbsp;Beside this, good governance is also one of our core areas.</p>',
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			'created' => '2013-05-22',
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			'keywords' => 'Investment Friendly Environment Is Needed To Attract Foreign Investors',
			'description' => 'I have been very delighted by coming to Nepal and have felt much welcomed. Coming to Nepal has been a very special experience and I regard Nepalis second only to Norwegians personally. I have spent over 20 years in this sub continent and I really appreciate Nepali people.',
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			'id' => '989',
			'article_category_id' => '34',
			'title' => 'Norway: Nepal’s Reliable Development Partner',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>By Sujan Dhungana and Sushila Budhathoki</strong></p>
<p>
	Nepal established diplomatic relations with Norway, a constitutional monarchy in Northern Europe on January 26, 1973. Norway, opened a residential embassy in Kathmandu in January 2000. &nbsp;The Nepali Embassy in Copenhagen, Denmark, oversees the diplomatic activities with Norway as well because Nepal does not have a residential embassy there.</p>
<p>
	With a population of five million inhabitants, Norway is one of the five countries comprising the Nordic Region while it remains outside the European Union. An increasing demand for a wide range of quality imported goods and services of all kinds make it the right country for exportable products and quality services. Norway, a modern and highly developed country, has a strong and stable economy. It has achieved enviable progress in human development. According to the UNDP’s Report in 2010, Norway heads the group of 42 very high human development countries being world’s first country in terms of human development. Norway also has the second highest GNP per capita in the world (USD 55,600) in terms of purchasing power parity.&nbsp;</p>
<p>
	Norway’s economy is essentially based on the exploitation of its natural resources, mainly oil, gas, hydroelectric power, forests and minerals. &nbsp;Oil production dominates the economy, accounting for nearly a quarter of the GNP. Norway is also a major producer and exporter of natural gas. &nbsp;The service sector in Norway is also a highly developed one. Norway’s agriculture contributes to about 2% of the GNP and fishery is a major activity, making Norway the biggest exporter of fish in the world.&nbsp;</p>
<p>
	<strong>Visit exchanges</strong></p>
<p>
	The number of visits at different levels from both sides depicts the increasing interests between Norway and Nepal and has helped in strengthening the relationship between the two countries. Prime Minister Jens Stoltenberg paid a one-day visit to Nepal on February 8, 2008. Foreign Minister, &nbsp;Knut Vollebaek, also visited Nepal in January 2000. Similarly, in June 2012, Minister for International Development, Heikki Holmas, visited the country and the Minister for Environment and Development, Erik Solheim, paid a visit &nbsp;in January 2012. Earlier, he had visited Nepal twice in different ministerial capacities. &nbsp;</p>
<p>
	The then Prime Minister, Pushpa Kamal Dahal, paid an official visit to Norway in March 2009 and Upendra Yadav, Minister for Foreign Affairs, participated in the International Conference entitled “Melting Ice – Regional Dramas, Global Wake-up Call” in April in the same year. Earlier, the then Minister for Foreign Affairs, Chakra Prasad Bastola, &nbsp;also travelled to Norway in September 2000 responding to an invitation of &nbsp;the Norwegian Foreign Minister.&nbsp;</p>
<p>
	<strong>Norway’s support</strong></p>
<p>
	Norway has been voluntarily supporting different projects in Nepal through different NGO’s and bilateral organization since 1960s. The country has regularly provided aid to different sectors in Nepal and has supported different development projects. Some of the sectors covered by Norwegian aid are climate, environment and food production, conflict prevention and resolution and peace and security. There are other sectors also subsidized by Norway such as education, energy generation and supply, government and civil society, among others. The aid from Norway to Nepal is consistent since 2009 (See graph).&nbsp;</p>
<p>
	The Government of Norway has provided NOK 30.6 million for Nepal Peace Trust Fund. This country is also taking the initiative on the third country resettlement of Bhutanese refugees. According to the Ministry of Foreign Affairs Nepal, Norwegian firms have invested Rs. 1135 million in 12 various projects in Nepal, which have generated 726 employment opportunities until July 2012. Norway also supports Nepal through UN agencies, good governance and private sector development, focused on hydropower and electrification. It is also supporting Rural Renewable Energy and Development through Energy Sector Assistance Program (ESAP), which has provided significant results in terms of improving cooking stoves and rural electrification (solar home systems and micro hydro). Regarding the academic field, Norway &nbsp; offers NORAD (Norwegian Agency for Development Cooperation) annual fellowships to Nepali students in different fields of studies.&nbsp;</p>
<p>
	<strong><img alt="Aid from the Royal Norwegian Embassy" height="623" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(3).jpg" width="517" /><br />
	</strong></p>
<p>
	<strong>Cooperation</strong></p>
<p>
	The cooperation between the two governments started with the signing of a memorandum of understanding (MoU) in 1996. &nbsp;According to Royal Norwegian Embassy, the cooperation is based on shared dedication to achieve the Millennium Development Goals (MDGs). Norway has been prioritizing key areas of cooperation in four sectors, namely peace building, democracy and inclusive governance, education and energy. There are cross- cutting issues like peace and human rights, environment, gender and equality and anti-corruption for all projects .&nbsp;</p>
<p>
	Norway has been a key partner to Nepal in exploiting hydropower resources. The country has a number of &nbsp;cooperation in the hydro power sector in Nepal. Some of them are Himal Hydro and General Construction Company, Butwal Power Company, Himal Power Ltd, National Hydro Power Co. and Nepal Hydro and Electric Pvt. Ltd. &nbsp;According to the Royal Norwegian Embassy, Norway is currently focusing in three thematic areas, namely accelerated hydro power development, rural renewable energy and development and technical energy research in energy sector. &nbsp;</p>
<p>
	Norway is also interested in supporting Nepal when conducting a feasibility study of different large scale projects. The Royal Norwegian Embassy in Nepal is currently working on developing new plans to support Nepal regarding energy sector; the Norwegian mission in Nepal has posted on its website. &nbsp;Moreover, with the 60 per cent financial contribution from NORAD, Turbine Testing Lab of Kathmandu University is running a three- year project which started in August 2010. &nbsp;According to Kathmandu University, the project would give a platform and foundation for associated professional parties to come together and create a turbine manufacturer in Nepal.&nbsp;</p>
<p>
	<img alt="Trade with Norway" height="221" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(1)(1).jpg" width="446" /></p>
<p>
	<img alt="Tourist arrival in Nepal from Norway" height="248" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="220" /></p>
<p>
	<strong>Trade and Tourism</strong></p>
<p>
	The agreement on avoidance of double taxation with Norway, signed in 1996, has been regarded as one of the reasons behind the growing trade between both countries. &nbsp;The trade figure of TEPC (Trade and Export Promotion Center) shows the growing trade both in imports and exports &nbsp;between the two countries. &nbsp;Nepal exported goods worth Rs 41.37 billion in 2009. In 2012 it was Rs 52 billion. Similarly, it imported goods worth Rs 22.52 billion and Rs 96 billion in the year 2009 and 2012 respectively. Thus Nepal had a trade surplus in 2009 and 2010, but in the recent years Nepal has a trade deficit.&nbsp;</p>
<p>
	Norway is the first country to register Nepali Pashmina products. Nepal mainly exports products such as paperboard, articles of paper pulp, coffee, tea, essential oils, cosmetics or toilet preparations, ceramic products and carpets among others. The imports from Norway are comprised of products like fish and crustaceans, aluminum, rubber, boilers, machinery or mechanical appliances. The flow of Norwegian tourists visiting Nepal is also rising. According to the data provided by the Ministry of Foreign Affairs, Norwegians are among major tourists visiting Nepal.&nbsp;</p>
<p>
	<img alt="Facts and figures about Norway" height="420" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(2).jpg" width="446" /></p>',
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			'description' => 'Norway has been supporting different projects in Nepal through different NGOs and bilateral organization since 1960s.',
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			'id' => '987',
			'article_category_id' => '37',
			'title' => 'Economic Policy’s Narrative Imperative',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>By Kemal Derviş</strong></p>
<p>
	<span style="font-size: 12px;">The best advice I received when taking up policymaking responsibilities in Turkey more than a decade ago was to take “a lot of time and care to develop and communicate the ‘narrative’ to support the policy program that you want to succeed.” The more that economic policy is subject to public debate – that is, the more democracy there is – the more important such policy narratives are.</span></p>
<p>
	The crisis faced by the European Union and the eurozone is a telling example of the need for a narrative that explains public policy and generates political support for it. A successful narrative can be neither too complicated nor simplistic. It must capture the imagination, address the public’s anxieties, and generate realistic hope. Voters often sense cheap populism.</p>
<p>
	European Central Bank President Mario Draghi provided such a narrative to the financial markets last July. He said that the ECB would do everything necessary to prevent the disintegration of the euro, adding simply: “Believe me, it will be enough.”</p>
<p>
	With that sentence, Draghi eliminated the perceived re-denomination tail risk that was highest in the case of Greece, but that was driving up borrowing costs in Spain, Italy, and Portugal as well. It was not a populist message, because the ECB does indeed have the firepower to buy enough sovereign bonds on the secondary market to put a ceiling on interest rates, at least for many months.</p>
<p>
	Central bankers, more generally, are typically able to provide short- or medium-term narratives to financial markets. US Federal Reserve Board Chairman Ben Bernanke provided his own by pledging that US short-term interest rates would remain very low, and the Bank of Japan’s new chairman, Haruhiko Kuroda, has just provided another by saying that he will double the money supply so that inflation reaches 2%.</p>
<p>
	While central bankers can provide such narratives to financial markets, it is political leaders who must provide the overall socioeconomic messages that encourage long-term real investment, electoral support for reform, and hope for the future. Central bank alchemy, to borrow a term from the US journalist Neil Irwin’s new book, has its limits.</p>
<p>
	Europe, in particular, needs a narrative of long-term hope that will trigger a real recovery. France is coming closer to the danger zone, and even Germany’s annual GDP growth is falling well below 1% per year. In the meantime, the easing of sovereign interest-rate spreads provides little comfort to the growing army of unemployed in southern Europe, where youth unemployment has reached dramatic heights – close to 60% in Greece and Spain, and almost 40% in Italy.</p>
<p>
	The narrative should address three essential questions. How can the European model of strong social solidarity and security be reformed, but endure? How can economic growth be revived and sustained throughout the EU? And how can Europe’s institutions function with enhanced legitimacy to accommodate countries that share the euro and others that retain their national currencies?</p>
<p>
	For starters, a revolution is required in the organization of work, learning, and leisure. Social solidarity, essential to European identity, can and must include longer work lives, but also more work-sharing, adult learning, and shorter average work weeks (particularly close to retirement).&nbsp;</p>
<p>
	Such flexibility requires the consent of all: employees must adjust to changing requirements; employers must re-organize their enterprises to allow more work-sharing, work from home, and learning intervals; and governments must overhaul taxes, income support, and regulation to promote a “flex-solidarity revolution” that encourages personal choice and responsibility, while remaining committed to social cohesion. This can lead to a better future for all, with citizens gaining better access to adult education, having more free time to pursue personal interests, and remaining productive and occupationally engaged far longer into their healthy lives.</p>
<p>
	Europe does not need Asia’s rates of economic growth. It can secure decent jobs and prosperity, with a sustained annual growth rate of around 2%. To achieve that, German voters should be told not that their country’s resources will forever flow to Spain, but that their wages can rise at twice the rate of the recent past without risking inflation or a current-account deficit, because Germany has the world’s largest external surplus.</p>
<p>
	Service-sector industries throughout the EU must be opened up. The countries with stronger fiscal positions should take the lead in a major pan-European skill-upgrading program. The number of pan-European scholarships should be doubled. School programs everywhere should aim to educate trilingual citizens.</p>
<p>
	Moreover, a full European banking union with shared resources for resolution should be created without further delay. The European Investment Bank, which received a significant capital increase in 2012, should add a large investment-support program for medium-size enterprises to its current operations, with a subsidy financed from the European budget to encourage first-time job takers for a limited period. Jobs and training for young people must be the centerpiece for the new growth pact, and projects must move ahead in “crisis mode,” rather than according to business as usual.</p>
<p>
	Finally, while monetary union obviously requires greater sharing of sovereignty, there should also be a “greater Europe” that includes the United Kingdom and others. This implies two-tier institutions that can accommodate both types of countries: the “euro-ins” and those that prefer to preserve their monetary sovereignty in a larger Europe built around a vibrant single market and common democratic values.</p>
<p>
	These interconnected visions can and must be realized if Europe is to thrive again. Together, they form a compelling narrative that European leaders must begin to articulate.</p>
<p>
	<span style="font-size:10px;">Kemal Derviş, former Minister of Economic Affairs of Turkey and former Administrator for the United Nations Development Program (UNDP), is Vice-President of the Brookings Institution.</span></p>
<p>
	<span style="font-size:10px;">Copyright: Project Syndicate, 2013.</span></p>',
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			'id' => '1004',
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			'title' => 'Real Madrid Overtakes Man Utd In Forbes Rich List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.</span></p>
<p>
	Forbes now values the Spanish giant at $3.3bn (£2.2bn), with Man Utd in second place on $3.17bn. Barcelona is third. Forbes said Real Madrid's financial success came despite the continuing woes of the Spanish economy.</p>
<p>
	"Real Madrid has been consistently delivering the highest revenues of any soccer team in the world, despite an intense economic meltdown in Spain," said Forbes. "With superstars like Cristiano Ronaldo on the pitch, and coach Jose Mourinho on the bench, Real Madrid has thrived under the leadership of billionaire president Florentino Perez."</p>
<p>
	In coming to its figures, Forbes looks at a football club's various revenue streams, such as television money, ticket sales, merchandise and concessions.</p>
<p>
	After Barcelona on $2.6bn, Forbes found that Arsenal was the fourth richest club, worth $1.33bn, followed by Bayern Munich ($1.31bn), AC Milan ($945m), Chelsea ($901m), Juventus ($694m), Manchester City ($689m) and Liverpool ($651m). David Beckham, now with French team Paris St-Germain, was the highest earning player, followed by Real Madrid's Ronaldo.&nbsp;</p>',
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			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Real Madrid Overtakes Man Utd In Forbes Rich List, Global Biz Trends, New Business Age',
			'description' => 'Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.',
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			'title' => 'South Asia Regains Momentum But Faces Risks: World Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.</p>
<p>
	The combined growth of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka was just 4.7 percent in 2012, substantially below pre-crisis levels, according to the report.</p>
<p>
	A pick-up to 5.5 percent can be expected in 2013 with ongoing efforts to regain fiscal space and boost private investment, it said, adding that given the uncertain global environment, it will be important to strengthen the investment climate, noted the report.</p>
<p>
	"How countries manage their economies in the face of uncertainties in the global environment will be critical not only for addressing near-term current account and fiscal deficits but also for tackling South Asia's long-term challenges," said Martin Rama, chief economist for the South Asia Region at the World Bank.</p>
<p>
	The report, a twice-yearly look at South Asia's economic prospects, said that the region is now more vulnerable because current account balances have widened, foreign direct investment has slowed, and persistently high inflation has limited the ability for central banks to use monetary policy to counter any economic downturn.</p>',
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			'created' => '2013-05-23',
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			'keywords' => 'South Asia Regains Momentum But Faces Risks: World Bank, Global Biz Trends, New Business Age',
			'description' => 'South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.',
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			'title' => 'Chinese Bank Tops Forbes Global 2000 List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.&nbsp;</span></p>
<p>
	Underscoring the power move by Chinese companies to top global rankings, China Construction Bank leaped 11 spots from last year to the number-two spot on the Forbes list of the world’s largest public companies. “This year’s list again reveals the dynamism of global business,” said Scott DeCarlo, the list editor.&nbsp;</p>
<p>
	Forbes said that ICBC -- The Industrial and Commercial Bank of China -- and CCB were bumped higher in the ranks by double-digit growth in both sales and profits in 2012, although annual profit growth for both banks was the slowest rate since they went public. ICBC brought in $37.8 billion in profits on $2.8 trillion in assets last yeat, while CCB earned $30.6 billion on $2.2 trillion in assets.&nbsp;</p>
<p>
	<span style="font-size: 12px;">“Most analysts don’t expect a banking crisis in China, but rising defaults and shrinking loan profitability are serious threats to the country’s banking system,” Forbes said. The rankings of the Forbes top 2000 are determined by an equal weighting of sales, profits, assets and market value.&nbsp;</span></p>
<p>
	Wall Street bank JPMorgan Chase, the world’s biggest company in 2011, slipped from number two in 2012 to number three in 2013 as sales dipped. US conglomerate General Electric moved down a notch to the fourth spot.. ExxonMobil, the US oil and gas giant, tumbled from its one-year reign at the top last year to the number-five spot, despite being the world’s most profitable company for the second year in a row with $44.9 billion in net income, Forbes said. Apple, which has vied over the past year with Exxon for the title of the world’s most valuable company by market capitalization, was tied at number 15 with Wal-Mart Stores.&nbsp;</p>
<p>
	Wal-Mart reclaimed the top perch as the word’s sales leader with 5.0 percent growth from Dutch-Anglo energy firm Royal Dutch Shell. Germany’s Allianz, South Korea’s Samsung Electronics, and US-based AT&amp;T joined the 25 top-ranked companies. Allianz gained the most ground, rising to 25th from 50th in last year’s list.&nbsp;</p>
<p>
	By country, the United States, adding 19 members, continued to dominate the list with 543 members, its highest total since 2009. Japan lost seven members, but at 251 remained the second-biggest country on the list. For the first time since the list began in 2004, Forbes said, China did not increase the number of its companies on the list. But it still had the third-largest presence with 136 members.&nbsp;</p>
<p>
	Forbes highlighted three Asian countries that showed standout overall growth in the list: Singapore, Thailand and Malaysia. &nbsp;Belgium, Turkey, and the United Arab Emirates had the biggest rise in company market values, growing by double digits from a year ago. Eleven countries had only one firm on the list, including New Zealand, the Czech Republic and Vietnam.</p>',
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			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Chinese Bank Tops Forbes Global 2000 List, Global Biz Trends, New Business Age',
			'description' => 'Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.',
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			'id' => '1001',
			'article_category_id' => '85',
			'title' => 'Japan Reports Record Annual Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports. A weak yen, which has dipped nearly 20% against the US dollar since November, also boosted the value of the imports.</p>
<p>
	Analysts said the deficit was likely to shrink in the coming months as the weaker yen will help Japan's exports. The yen has dipped after policymakers introduced aggressive measures aimed at spurring a fresh wave of economic growth and stoking domestic demand.</p>
<p>
	Japan, which has traditionally been known for its exports, has seen a shift in its trade pattern in recent times. It has seen its imports rise, driven mainly by an increased demand for fuel. This was after most of its nuclear reactors were shut after the earthquake and tsunami in 2011 which damaged the Fukushima Daiichi nuclear plant and resulted in radiation leaks. As a result, utility providers have had to turn to traditional thermal power stations to generate electricity. These power plants need natural gas and coal to operate, resulting in a surge in imports of these commodities.</p>
<p>
	Meanwhile, its exports have been hurt by a slump in demand from key markets such as the US and Europe, while a territorial dispute has hurt sales to China. That has seen it report a deficit for nine straight months.&nbsp;</p>',
			'published' => true,
			'created' => '2013-05-23',
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			'keywords' => 'Japan Reports Record Annual Trade Deficit, Global Biz Trends, New Business Age',
			'description' => 'Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports.',
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		'Article' => array(
			'id' => '1000',
			'article_category_id' => '40',
			'title' => 'Revisiting Nepali Consumers: Facts, Trends & Business Impacts',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Many believe that Nepal is still an under-explored market given the potential it has. The market is growing and chances of further expansion are still very high due to the increased awareness and affordability of consumers. The world’s leading brands available in Nepal have created an environment in which consumers can expect to get what they want. &nbsp;Every product has been putting their effort to get a hold in the market by expanding their consumer-base.&nbsp;</strong></p>
<p>
	<strong>Based on Purchasing Power Parity (PPP) Nepal’s Per Capita Income has doubled in 32 years. Recently released Human Development Report 2013 by the United Nations Development Program (UNDP) has revealed that the gross national income (GNI) per capita in PPP increased by 101 percent to US$ 1,137 in 2012 compared to 1980. Inflow of remittance and an large portion of youth population has made Nepal a potential market to companies.</strong></p>
<p>
	<strong>In this issue, New Business Age provides marketers and companies with some interesting insights to know the changing consumers landscape in Nepal.</strong></p>
<p>
	<span style="font-size: 12px;">In the capital Kathmandu, varieties of goods and shopping places can be found within a few minutes from their homes. People can find products according to their affordability. There are varieties of price ranges and choices to consumers. Family run groceries are still the norm in Nepal, but supermarkets and malls are also doing good business.&nbsp;</span></p>
<p>
	Despite economic slowdown, the consumption of fast-moving consumer goods (FMCGs) has not dropped but constantly going up. Nepal has been witnessing satisfactory growth in per capita food and non-food consumption expenditure. Household consumption of fast moving consumer goods (FMCGs) has also gone up. Multiple factors have contributed in expansion of Nepal’s market.&nbsp;</p>
<p>
	The visible growth of Nepal’s economy, especially income of the people, over the last decade has put more money in the pockets of the country’s middle class, prompting retailers to target this group of consumers.&nbsp;</p>
<p>
	<strong>Census 2011</strong></p>
<p>
	In the report of National Population and Housing Census 2011 published by the CBS, the population of the country has grown to 26.6 million with 1.35 percent annual growth rate since the last census that was concluded in 2001.</p>
<p>
	Thus, Nepal is the market of 26.6 million consumers including 12.8 million male population and 13.64 female. The census report shows that Terai region constitutes of 50.27 percent (13.31 million) of the total population. Similarly, hilly and mountain areas constitute 43 percent (11.39 million) and 6.73 percent (1,781,792) respectively.</p>
<p>
	Highlights:</p>
<ul>
	<li>
		Population: 26,494,505</li>
	<li>
		Households: 5,427,30</li>
	<li>
		Average household size: 4.88</li>
	<li>
		Sex ratio (number of males per 100 females): 94.2 (Number of male per 100 female)</li>
	<li>
		Urban population: 17 per cent</li>
	<li>
		Population density (average number of population per square km): 180</li>
</ul>
<p>
	<strong>Age Groups and Corresponding Market</strong></p>
<p>
	The age of the consumer determines the type of products sellable in the market.&nbsp;</p>
<p>
	Normally, a young person is fashion conscious in the choice of products, while a middle-aged person is status conscious.</p>
<p>
	The age group of 10-14 years of the population is seen the highest (when compared to other 5-year gap intervals) in Nepal as per the 2011 census data. Also, the female population is slightly more than that of males. There are 13,645,463 women in Nepal, which accounts for 51.5 percent of the total population, while the number of males is 12.84 million. &nbsp;Higher population of women shows that the market of cosmetics items, clothing and boutiques are very good in the country.&nbsp;</p>
<p>
	<img alt="Age Groups and Corresponding Market, Cover Story, Revisiting Nepali Consumers" height="304" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_age_group_and_corresponding_market.jpg" width="506" /></p>
<p>
	<strong>Youth Population</strong></p>
<p>
	The census data shows that more than half of the population, about 55 per cent, is below 25 years of age. According to the 2011 census report, some 34.91 per cent of the population is aged below 14 years and another 19.97 per cent is aged between 15-24 years.</p>
<p>
	This is one of the reasons why many world players are coming and establishing their presence here in the Nepali market. Young Nepalis today expect a lot more from their lives, and often face pressure that was unfamiliar to earlier generations. Young people often want to keep up with global fashions and market trends. Their passion of following global fashion and trends has created many opportunities in Nepali market. Though Nepali population is mostly young, the size of old-age population has been increasing as well offering increased opportunity for business that provide goods and services to aged.&nbsp;</p>
<p>
	<strong>Family Size and the Family Life Cycle</strong></p>
<p>
	The buying decision in a large family is more complex as several individuals play different buying roles, such as that of initiator, influencer, prayer, buyer and users, economist Dr Chiranjivi Nepal says. He opines that the large families generally buy a single brand while small families are found to be more brand-switching. Consumers’ product varies according to the stage of their family life cycle. The consumption pattern of a bachelor is different from that of a man with several children.</p>
<p>
	The average household size of Nepal is 4.88 as per the 2011 census data. The household size of the urban and rural was seen 4.32 and 5.02 respectively. The largest household size was seen in Rautahat district with 6.44 and the lowest of 3.92 in Kaski district.</p>
<p>
	<strong>Remittance</strong></p>
<p>
	Around 1,500 Nepali workers go abroad for employment every day and it is their remittance that keeps the Nepali economy afloat, opines economist Nepal.&nbsp;</p>
<p>
	According to the World Bank, Nepal ranked 6th in the world among top remittance-receiving countries in 2011, with remittances making up 20 per cent of its GDP. A total of 56 per cent of the total households in Nepal receive remittances. Of which, 48 per cent comes from international labour migration, according to Central Bureau of Statistics. Accounting for more than 20 per cent of the GDP, migrant labourers brought in Rs 359 billion in the last fiscal year alone.</p>
<p>
	<img alt="Remittance, Revisiting Nepali Consumers" height="206" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_remittance.jpg" width="515" /></p>
<p>
	<strong>Education</strong></p>
<p>
	Of the total population, 39.04 percent are at the level of primary education. The male population dominated all the regions of the country in the literacy level. 65.94 per cent of the total population are literate (can read and write) in Nepal. &nbsp;2.52 percent of the population of Nepal can read only as per census data. Kathmandu has the highest literacy rate and Humla, the lowest with 86.3 per cent and 47.8 per cent respectively. The school enrollment of Nepal is seen at 95.1 per cent as per census data. This means over 95 per cent of school going age population is actually enrolled in schools. This indicates to very good market for educational material and education-related services.</p>
<p>
	<img alt="Population Aged 5 years and above by Literacy Status, Revisiting Nepali Consumers, Cover Story" height="215" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_population_5years_above_literacy_status.jpg" width="528" /></p>
<p>
	<strong>Toilet Use</strong></p>
<p>
	More than one-third, i.e., 38.17 per cent of the Nepali population does not have toilet facility. In Terai region, a total of 51.24 per cent of population are still without toilet facility.&nbsp;</p>
<p>
	However, the trend of constructing the flush toilet and squat toilet with septic tank is increasing in the country including both in the rural as well as in urban areas. Therefore, the business of sanitary ware has also been going up.&nbsp;</p>
<p>
	<img alt="Toilet Use, Revisiting Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_toilet_use.jpg" /></p>
<p>
	<strong>Rural Market&nbsp;</strong></p>
<p>
	Though the business volume may be big in Kathmandu and urban areas, Nepali villages offer very good markets in terms of the number of consumers as about 82.30 per cent of the population of the country is living in rural areas.&nbsp;</p>
<p>
	Interestingly even some parts of the urban population &nbsp;have rural consumption behaviour. And urban characters can be seen also in some rural areas due to the influence of remittance, for example. However, purchasing capacity of rural community is low compared to urban population. Rural population still depends on agricultural activities. The consumption habit, however, has been changing in the rural areas too. One reason is the road access and the other is education. Also the availability of electricity and cable TV as well as opening of cinema halls in those rural areas have been changing the consumption habit in rural Nepal.</p>
<p>
	Many companies have been launching products targeting the rural population. Comparatively low-cost products and micro-packing are main strategies adopted by companies to get a hold in rural areas.&nbsp;</p>
<p>
	<img alt="Rural Market, Revisiting Nepali Consumers, Cover Story" height="86" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_rural_market.jpg" width="390" /></p>
<p>
	 </p>
<p>
	<strong>Fuel</strong></p>
<p>
	According to National Population Census 2011, Nepal still relies heavily on firewood to fulfill its fuel demand for the purpose of cooking. However, the consumption of Liquefied Petroleum Gas (LPG) has significantly increased in the recent years which has created lots of space for the business of LPG stoves, regulators, pipes, cylinders and other necessary accessories.&nbsp;</p>
<p>
	One interesting fact about source of fuel for cooking is that big urban districts like those in the capital (except Lalitpur), Parsa, Kaski and Morang do not feature among the top users of electricity. Obviously the frequent power outage and cheap price of LP Gas have prompted the households ot shift to LP Gas in those districts.</p>
<p>
	<img alt="Fuel, Revisiting Nepali Consumers, Cover Story" height="717" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_fuel(1).jpg" width="389" /></p>
<p>
	<strong>Lighting Sources</strong></p>
<p>
	Electricity is seen as the major source of lighting for Nepali households. Total of 67.26 percent of the population is using electricity as the source of lighting. Similarly, kerosene is the second major source of lighting (18.28 per cent). But these households suffer from frequent power outage.</p>
<p>
	This has created much opportunities for the traders of invertors and batteries as well as solar power systems.</p>
<p>
	Therefore, business of electricity accessories such as bulbs, wires, poles and ceiling lights is doing well in Nepali market. At the same time, business of solar energy has also gone up and possibility of bio-gas related business is also very high in the Nepali market.&nbsp;</p>
<p>
	<strong><img alt="Lighting Sources, Revisiting Nepali Consumers, Cover Story" height="607" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_lightening_sources.jpg" width="385" /><br />
	</strong></p>
<p>
	<strong>Religious Cultural Factors</strong></p>
<p>
	In September 2012, World’s famous fast food chain McDonalds launched its first vegetarian restaurants in India targeting Indian Hindu. The reason of launching vegetarian products was obvious that McDonalds did not want to lose Hindu consumers.&nbsp;</p>
<p>
	Cut-throat competition among various companies and outlets has created a scenario whereby all companies try to lure consumers by offering what they want. Nepal is multi-religion country and companies may want to tap consumers according to religion.&nbsp;</p>
<p>
	Consumer diversity is obviously very high in the country and creating more challenges for the marketers. There is diversity at multiple levels: ethnic and caste differences, religious diversities, rural-urban diversities, diversities in source of income and educational level along with others. Yet, there are many opportunities since the Nepali market is not fully explored so far. On top of all, Nepali consumers are very eager to try new products and services.&nbsp;</p>
<p>
	<img alt="Religious Cultural Factors, Revisitng Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_religious_cultural_factors.jpg" /></p>
<p>
	<img alt="Cultural Composition, Revisiting Nepali Consumers, Cover Story" height="393" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_religious_cultural_composition.jpg" width="496" /></p>
<p>
	<strong>Absent Population</strong></p>
<p>
	One in every four households (25.42%; 1.38 million households) reported that at least one member of their household is absent or is living out of country. Total number of absent population is found to be 1,921,494 in 2011 census against 762,181 in 2001. The highest proportion (44.81 percent) of absent population is from the age group 15 to 24 years. Gulmi, Arghakhanchi and Pyuthan districts reported the highest proportion of their population being absent (staying abroad).</p>
<p>
	<img alt="Top five Absent Population District, Revisiting Nepali Consumers, Cover Story" height="153" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_absent_population_district.jpg" width="595" /></p>
<p>
	<img alt="Top Ten Destination of Migrant Nepali Workers, Revisiting Nepali Consumers, Cover Story" height="764" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_remittance_migrant_workers.jpg" width="380" /></p>
<p>
	 </p>
<p>
	<strong>Media Consumption</strong></p>
<p>
	The media consumption patterns, profiles of audiences on different platforms and media types, and the effectiveness of advertising across platforms have been significantly changed over the last decade.&nbsp;<span style="font-size: 12px;">Consumers concentration has been shifted to the television from radio, according to Managing Director at JWT-Thompson Nepal Joydeb Chakravarty. “Ten years back the national media was radio but today more people watch television,” he says.&nbsp;</span></p>
<p>
	<span style="font-size: 12px;"><img alt="Media Consumption, Revisiting Nepali Consumers, Cover Story" height="262" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_media_consumption.jpg" width="521" /><br />
	</span></p>
<p>
	<strong>Computer and Internet</strong></p>
<p>
	Computers and Internet products are also growing day by day. The number of Internet users in Nepal has accelerated in the country. Access to the Internet has positive implications for society and the economy. A study carried out by Computer Association of Nepal (CAN) last year showed that the computer penetration rate in the country had crossed five per cent. The survey was carried out based on the record of import of computer monitors and branded laptops, according to CAN general secretary Narayan Neupane. The penetration rate of computer at present may have crossed eight, he says, adding that the trend of using computers is on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for their day-to-day activities.&nbsp;</p>
<p>
	<img alt="Computer and Internet, Revisiting Nepali Consumers, Cover Story" height="171" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_telephone.jpg" width="531" /></p>
<p>
	<strong style="font-size: 12px;">Automobiles</strong></p>
<p>
	Nepal has been seeing the penetration of two- and four-wheelers increasing at a rapid pace, thanks to the expansion of road connectivity and increased income of citizens. Expansions of road network throughout the country and a steep rise in the number of migrant workers have played a catalytic role in the growth of automobile sales.&nbsp;</p>
<p>
	So, many automobile brands have been able to establish themselves and automobile has become one of the largest customs duty contributors in the country. Nepali consumers have been using four-wheeler ranging from the most expensive one to the cheapest Nano car. Similarly, Nepal-assembled brands such as Mustang and Sherpa has also been rolling on Nepali roads. &nbsp;</p>
<p>
	<img alt="Top three districts with various Vehicles facilities, Revisiting Nepali Consumers, Cover Story" height="280" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_vehicles.jpg" width="533" /></p>
<p>
	<strong>ICT and Mobile</strong></p>
<p>
	Not only telecom sector but also the market of entire Information and Communication Technology (ICT) has expanded over the last few years. As far as mobile market is concerned, Nepal has approximately Rs 15 billion transaction every year, according to chairman of Mobile Traders Association of Nepal Purushottam Basnet. Nepal has been very potential market for mobile phone sets and other ICT products.</p>
<p>
	<img alt="Top three districts with ICT and Mobile, Revisiting Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_ict_mobile.jpg" /></p>
<p>
	<strong>Home Appliances&nbsp;</strong></p>
<p>
	Sales of the home appliances have tremendously increased over the last year. The sales of refrigerators, washing machines, vacuum cleaners, LEDs and LCDs has boosted in the recent years. Besides, people living in urban areas are continuously upgrading their living standards, and home appliances are deemed as components that add value to their living condition. The market of home appliances has also increased in the rural areas too.&nbsp;</p>
<p>
	<img alt="Top three districts with  Refrigerator facilities, Revisiting Nepali Consumers, Cover Story" height="160" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_home_appliances.jpg" width="532" /></p>
<p>
	<span style="font-size: 12px;">Consumer diversity is obviously very high in the country and creating more challenges for the marketers. There is diversity at multiple levels: ethnic and caste differences, religious diversities, rural-urban diversities, diversities in source of income and educational level along with others. Yet, there are many opportunities since the Nepali market is not fully explored so far. On top of all, Nepali consumers are very eager to try new products and services.&nbsp;</span></p>',
			'published' => true,
			'created' => '2013-05-22',
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			'keywords' => 'Revisiting Nepali Consumers: Facts, Trends & Business Impacts, Cover Story, New Business Age',
			'description' => 'Many believe that Nepal is still an under-explored market given the potential it has. The market is growing and chances of further expansion are still very high due to the increased awareness and affordability of consumers.',
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			'id' => '999',
			'article_category_id' => '40',
			'title' => 'Young Consumers Have Smart Perspective On How To Spend Money',
			'sub_title' => '',
			'summary' => null,
			'content' => '<address>
	<strong>Mani Raj Dahal</strong></address>
<address>
	<strong>Country Manager</strong></address>
<address>
	<strong>The Nielsen Company Nepal Pvt Ltd</strong></address>
<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">It is very important to assess how the market is doing and what the current trends of consumption are to revisit the consumers. Nepal is still an unexplored market in many fields and, therefore, it offers possibilities of market expansion to companies. It is worthwhile to mention here that the spending and consumption habit of consumers are positive in Nepal, despite the huge political problems the country is going through.&nbsp;</span></p>
<p>
	<strong>Rising Consumerism&nbsp;</strong></p>
<p>
	There is a tremendous potential in the country for companies to expand their products and services.&nbsp;<span style="font-size: 12px;">The swelling consumerism has seen the introduction of a range of new products like ready-to-eat snack foods, breakfast cereals, textures vegetable protein foods and so on. Different brands of the same item and attractive packaging vie &nbsp;for the consumers’ attention.</span></p>
<p>
	<strong>Spending Capacity</strong></p>
<p>
	The increased spending capacity of consumers is really a good sign in the Nepali market. &nbsp;The inflow of remittance and tourism have contributed to increase the income of consumers. The purchasing power of consumers has a direct impact on the market expansion.&nbsp;</p>
<p>
	Every investor asks some questions before starting a business: how big is the market and what are the possibilities of growing? And the scenario in Nepal is not so bad. Though Nepali market is not that big, there’s enough room for new companies and brands.&nbsp;</p>
<p>
	<strong>Youth Focused Market</strong></p>
<p>
	At present, the consumption of Nepali young generation forms a thriving market. Young consumers are usually impressed with branded and quality goods and services then being purely price sensitive . Companies and service providers can take advantage of this to further set up their brand image.<span style="font-size: 12px;">The young generation enjoys a staggering amount of purchasing power in the country due to foreign employment and inflow of remittance. Young consumers not only have money, but also have smart perspectives on how to&nbsp;</span><span style="font-size: 12px;">spend money.&nbsp;</span></p>
<p>
	<strong>Consumerism and Socialisation</strong></p>
<p>
	It is really interesting to mention here that Nepali culture has changed over the years due to technology and consumerism.&nbsp;<span style="font-size: 12px;">Our socialization process has changed, compared to some years ago. Lifestyle and consumption habits are considered to be the main reason for the socialization and it is obvious that the process of socialization has changed throughout the last one or two decades. For instance, we can take café culture, business in Valentine Day or may be English New Year.&nbsp;</span></p>
<p>
	<strong>Nepali Products</strong></p>
<p>
	Entrepreneurship is something that will help the country to achieve sustainable development. The chances of entrepreneurship are very high in Nepal, all we need is creative minds and creative ideas. In Nepal, the chances of branding local products are very high. Nepali people are very much habituated to consume Nepali food and drinks trend and young entrepreneurs can establish Nepali brands of that sector. The typical Nepali style goods are also making their brands .</p>
<p>
	<strong>Price Hike Impact&nbsp;</strong></p>
<p>
	It is an interesting fact that in Nepal, despite the frequent price hike of Fast-moving Consumers Goods (FMCG), the market has not seen a drop in the demand of such goods. This indicates that consumers have got the capacity and are willing to pay more for the products of their choice of consumption.</p>',
			'published' => true,
			'created' => '2013-05-22',
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			'keywords' => 'Young Consumers Have Smart Perspective On How To Spend Money, Cover story, New Business Age, May 2013',
			'description' => 'Entrepreneurship is something that will help the country to achieve sustainable development.',
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			'title' => 'When You Build Your Own Brand You Are Able To Command A Premium Rate',
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			'summary' => null,
			'content' => '<address>
	<strong><span style="font-size: 12px;">Joydeb Chakravarty</span></strong></address>
<address>
	<strong>Managing Director</strong></address>
<address>
	<strong>JWT-Thompson Nepal</strong></address>
<p></p>
<p>
	<strong style="font-size: 12px;">Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">Some experts say that Nepal is still an untapped and unexplored market. Do you agree?</strong></p>
<p>
	Nepal was first country in the region to be exposed to international brands. Some 30 years back, India did not have the access and exposure to the brands that were here in Nepal. Nepali consumers have always been exposed to these kinds of international brands for last 30-40 years. So, when local brands try to enter this market they find it a challenge because consumers benchmark it with international brands that they have already used. It could be in any category, but the consumers give it a fair trial and if it does not meet their expectations then they have no hesitation in rejecting it. The Nepali consumers are very discerning indeed!</p>
<p>
	<strong>Can you please tell us some major differences in the consumers’ behavior in the past and present?</strong></p>
<p>
	Today the consumers have a different kind of exposure because of the reach and penetration of the international media. This has had very large impact to the consumers’ psyche. When you look at the way people dress, we see they are following the world’s leading trends. Nepali consumers’ tastes and trends have evolved over the last couple of decades. Look at the way they have embraced new technology, new gadgets and even smart phones. Look at two wheeler sector, earlier people went for something functional but not anymore. Now they want a higher-end bike to go with their perceived self-image. People have a much higher level of aspiration now, and want to show that through their material possession.&nbsp;</p>
<p>
	<strong>What are the practices of the companies regarding study of consumers’ buying behavior in Nepal?</strong></p>
<p>
	Client and organizations in Nepal are talking about research. Although, they might not always employ a professional research agency, they might want to do research in-house, through their own team, which is not the right way to do it, but it still goes some way. Earlier there a few companies who actually believed in market and consumer research but that’s changed. We now see that clients and companies are talking about research, which is a very positive sign.</p>
<p>
	<strong>How is the branding practice in Nepal? How important is branding from your perspective?</strong></p>
<p>
	Branding has caught on over the last two decades. Everything now seems to be branded. I am just not talking about the consumer goods, but commodities which at one time were sold loosely are now branded. Companies have now come to realize and appreciate that when you build your own brand you are able to command a premium rate.</p>
<p>
	<strong>What is the media consumption habit of Nepali consumers right now?</strong></p>
<p>
	If you see the ownership in the durables likes colour television (63% in 2012 Vs 13% in 2003), radio, refrigerator and mobile phones have drastically increased. Ten years back the national media was primarily radio based but today there are more people watching television than listening to the radio. Obviously radio has not been able to catch the imagination the listeners, while television has caught on despite having more than 350 FM radio channels in Nepal. The print too have taken its toll, readership has gone down over the last ten years even though literacy has gone up. The reason could be the high cover price of newspapers. The usage of the internet has gone up drastically from 2% in 2002 to more than 25% in 2012.&nbsp;</p>
<p>
	<strong>How do you envisage the importance of advertisement to catch the emotional side of consumers?</strong></p>
<p>
	If you are unable to connect with your customers on an emotional level, you will not be able to engage with them meaningfully. Consumers today have many interests and they are not waiting to see your advertisements! Unless you are able to make an emotional connection with your customers; make your advertisements distinctive, emotional, entertaining and engaging otherwise you cannot hope to catch their attention.</p>
<p>
	<strong>What are the contributing factors in the quality of advertisements? What are the reasons behind low quality of advertisement in Nepal?&nbsp;</strong></p>
<p>
	Over the last few years the quality of advertisements has not matched the expectation of the Nepali consumers. &nbsp;There are many reasons for that, no one wants to take a ‘risk’ and everyone wants to ‘play safe’. Companies feel that if they come up with a “creative” advertisement it might go over the head of their audience. There is very little the advertising agencies can do in that kind of a scenario. This is also compounded by the severe shortage of creative people in the advertising sector. Moreover, top quality advertising production – especially films cost huge amounts of money. The market here is very small compared to other countries&nbsp;<span style="font-size: 12px;">in the region.&nbsp;</span></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '2013-05-22',
			'keywords' => 'When You Build Your Own Brand You Are Able To Command A Premium Rate, cover story, New Business Age',
			'description' => 'Nepal was first country in the region to be exposed to international brands. Some 30 years back, India did not have the access and exposure to the brands that were here in Nepal. Nepali consumers have always been exposed to these kinds of international brands for last 30-40 years.',
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		'Article' => array(
			'id' => '996',
			'article_category_id' => '50',
			'title' => 'New Year Hues',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	The rise of the middle and upper middle class and the growing income this sector of the society enjoys definitely have increased consumeriism. In the Nepali context, not only these factors have been contributing to the growing level of consumption of both FMCGs (Fast Moving Consumer Goods) and durables. The increasing remittance from migrant workers potentially goes for consumption too. Consumption is naturally the top priority for the families of the migrant workers with a humble economic background. &nbsp;However, it is important to note that these consumers are not considered to be brand conscious. Urban dwellers and, especially, the youths are the ones concerned and lured by the flashy brand names.&nbsp;</p>
<p>
	Various well known global brands have their presence in Nepal in different product categories. The festive seasons are the moments when there is an opportunity for these brands to potentially increase sales, more than in “normal days.” Consumers also want to make festivals a special occasion by shopping new goods. The New Year 2070 seems to be the perfect occasion: customers buy more and sellers try to sell more as well. To make this happen, business get involved in aggressive marketing strategies. This is an attempt to create a win-win situation for both.</p>
<p>
	<strong>Sangam Khadka, Baneshwor</strong></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '0000-00-00',
			'keywords' => 'New Year Hues, Feedback, New Business Age',
			'description' => 'The rise of the middle and upper middle class and the growing income this sector of the society enjoys definitely have increased consumeriism. In the Nepali context, not only these factors have been contributing to the growing level of consumption of both FMCGs (Fast Moving Consumer Goods) and durables.',
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		'Article' => array(
			'id' => '995',
			'article_category_id' => '50',
			'title' => 'Extend The Value Chain',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	I find New Business Age magazine loaded with relevant content. I believe that the reading habit of today’s youth is oriented towards byte sized articles. Additionally, articles could be more attractive and easier to comprehend with the use of graphics. Enlivening the contents in such a manner would be a challenge for contributory guest articles, but if the magazine could offer a way to do it and the approval from the author, the suggested improvements could be achieved. &nbsp;&nbsp;</p>
<p>
	I think that the core readers of this magazine are young executives and management students. What they really crave for is information - latest trends, developments, concepts, models… etc. I wonder, is it possible to feature an exec-summary with every issue that touches 5 to 10 important points under various categories For example, these could be latest concepts in H.R., governance, CSR, marketing, branding orleadership. Each point could be a 3-4 liner as in intro. The reader can do research by him or herself if the subject is relevant.</p>
<p>
	I believe that any educational forum or magazine (like this one) has a dual role to play: pass on domain knowledge and also imbibe certain values and attributes that make humans better. After all, the quality of a human being defines the way he or she &nbsp;operates in a value-challenged environment. Could your magazines carry a regular feature that helps the reader to understand the difference between pursuing success and excellence? Is the publication group into creating experiential platforms that bring alive the various theories propounded in these magazines? Such activities would extend the value chain and would go a long way to create domain leadership.&nbsp;</p>
<p>
	<strong>Manosh R. Sengupta, Brand-Parent, Nurturer, Mentor, brand-@itude</strong></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '0000-00-00',
			'keywords' => 'Extend The Value Chain, Feedback, New Business Age',
			'description' => 'I find New Business Age magazine loaded with relevant content. I believe that the reading habit of today’s youth is oriented towards byte sized articles. Additionally, articles could be more attractive and easier to comprehend with the use of graphics.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '994',
			'article_category_id' => '50',
			'title' => 'Airlines Merger',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	As TR Manandhar, Director General of CAAN, said (New Business Age, April 2013) the number of airlines is higher than what the &nbsp;market can sustain. In a condition where tourism is not yet at a peak, the domestic market for aviation in Nepal is still untapped and some rural destinations can be developed that can be reached more conveniently by air than by land. &nbsp;Airlines have been facing problems in generating profits because of the high operational cost and inadequate capital base. In the current situation, as Manandhar suggests, it would be wise to merge airline companies. That would increase the fleet size, the capital base and the reach. The merger of companies &nbsp;would also help them operate by being one robust company.</p>
<p>
	<strong>Binita Sharma, Pokhara</strong></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '0000-00-00',
			'keywords' => 'Airlines Merger, Feedback, New Business Age',
			'description' => 'As TR Manandhar, Director General of CAAN, said (New Business Age, April 2013) the number of airlines is higher than what the  market can sustain.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '992',
			'article_category_id' => '52',
			'title' => 'Political Copycats',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal’s private sector seems to have extracted every possible evils from our debasing political environment. The country’s business community is always expected to set good examples of best practices, leadership, magnanimity and vision that could be replicable even by politicians. Sadly though, these supposedly rich, learned, professional and responsible business leaders themselves seem determined to ruin umbrella business organizations like FNCCI (Federation of Nepalese Chamber of Commerce and Industry) and NCC (Nepal Chamber of Commerce), thus far largely saved from the meanness of dirty politics.</p>
<p>
	All but one out of a dozen former presidents of FNCCI boycotted the 47th AGM of the organization held in the first week of April, allegedly protesting the ‘unprofessional’ behaviour of the incumbent President. The past presidents are also ex-officio advisers to the organization and, failure of the entire brigade to turn up in the event was indeed an unwanted precedent.</p>
<p>
	Existence of lobbies in such organizations is but natural. Albeit, it is the responsibility of the leadership to accommodate the differing views within organization and address the genuine concerns of members. But the opponents argue that ever since his election, the present president has been inaccessible and impervious to the well-being of the institution. Without going into the exercise to verify the truth behind this claim, it can be safely concluded that the leaders of the chambers are finding it hard to reconcile their businessman traits (that in Nepal requires being selective in socializing) and social leader traits (that virtually requires complete sacrifice of private life). &nbsp;&nbsp;</p>
<p>
	Likewise, 60th AGM row in the country’s oldest organization of the business community, NCC, has invited shameful hostilities between the lobbies of President Suresh Basnet and Vice-president Lokmanya Golchha. It went to the extent that the Golchha lobby held a separate press conference in early April alleging Basnet of taking the entire organization for ransom. Before that, the office was padlocked for almost a month, ironically, at the behest of the incumbent president.&nbsp;</p>
<p>
	Both in FNCCI and NCC, lust for clinging to power who are already in positions or ousting the incumbent by any means by the opponents are at the heart of all these misadventures. All of them seem to have forgotten the values of democracy and importance of fairness in the game of ballots. Equally so, those in the hot seats have failed to uphold the dignity their respective positions deserved. Instead, they seems to have either believed in no-inclusive decision making or use of extraneous tricks other than winning the heart of own constituencies to remain in or gain crucial positions. This is exactly what our business leaders have learnt from our politicians and political culture -- undermine democracy and dance haywire, shamelessly in public.</p>
<p>
	&nbsp;This is perhaps the time the country’s private sector came up with some prescription to revive sluggish economy. The GDP growth rate for this year is predicted to less than 3.5 percent and contribution of the manufacturing and formal business sector is even negligible. This unimpressive performance of the economy without any strikingly visible barrier to growth manifests even cancerous trend of gradual decay. It is the private sector that should now come-up with a blue-print for its rescue.</p>
<p>
	There are other more serious business for business leaders than political-type bickering among themselves. The private sector has constantly blamed to the unstable and hostile politics for Nepal being unable to attract the foreign investment, among other. But, international business community has started to doubt on the very credentials of Nepal’s private sector. One of the crucial questions asked is why the real sector has chosen not to be transparent and failed to even register in the stock market. This issue entails other number of inherent deficiencies in our corporate sector. And, one more deficiency is added spatially by the growing unprofessionalism and animosity within the community, that must be contained and corrected, sooner the better.</p>
<p>
	<img alt="Political Copycats, From the editor" height="296" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/from_the_editor_mar2013_political_copycats(1).jpg" width="590" /></p>',
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			'modified' => '2013-06-07',
			'keywords' => 'Political Copycats, From the editor, New Business Age',
			'description' => 'Nepal’s private sector seems to have extracted every possible evils from our debasing political environment. The country’s business community is always expected to set good examples of best practices, leadership, magnanimity and vision that could be replicable even by politicians.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '991',
			'article_category_id' => '31',
			'title' => 'Developing Countries Offer  A Great Deal Of Opportunity For Our Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><span style="font-size: 12px;">Pradeep Kumar acquired his Bachelor in Technology from GB Pant University, Pantnagar. He also earned a Master in Business Administration from Bhartya Vidya Bhawan. He has 30 years of extensive experience in the field of Farm Machinery, Material Handling and Construction Equipment. He has worked with Eicher Tractors Ltd. India from 1978 until 1984, being in charge of sales and service operations. Subsequently, he has worked with Escorts Construction Equipment Ltd. from 1984 until 2001 and Escorts Ltd. from 2001 until 2005 as a General Manager for both companies. During this period, he has been responsible for various functions including business development, sales and marketing of material handling, construction equipment (like mobile cranes, loaders, vibratory road rollers etc.) and exports of tractors. He joined Mahindra and Mahindra Ltd. in August 2005.</span></strong></p>
<p>
	 </p>
<p>
	Pradeep Kumar, Vice President of Mahindra and Mahindra for international operations of Auto &amp; Farm sectors in Asia and Australia, was recently in Nepal when he talked to Sujan Dhungana of New Business Age about his company’s business in Nepal.&nbsp;</p>
<p>
	<strong style="font-size: 12px;">Excerpts:&nbsp;</strong></p>
<p>
	<strong style="font-size: 12px;">What brings you to Nepal?</strong></p>
<p>
	I have visited Nepal several times in the past because it is a strategic market for Mahindra. We are market leaders in the utility vehicle segment and tractors, with two brands, Mahindra and Swaraj. Both brands, together, account for more than 38 percent of market share in the tractor business. We are here to launch our product, the Mahindra XUV 500, a world class SUV which is now blazing a trail across India, Australia, South Africa and Italy . This is one of the most successful vehicles we have launched in India and its demand is increasing.</p>
<p>
	Moreover, this year, I am proud to announce that we have completed 22 years of successful association with our Nepal distributor, Agni, and we would like to use this occasion – the launch of our new 3S facility – as a chance to interact with our local customers and to provide them with the best service possible.</p>
<p>
	<strong>What makes Mahindra stand out in the market?</strong></p>
<p>
	Our products have been developed as per market demand. &nbsp;We have always kept the customer in focus while designing our products, which are reliable. Moreover, the fact that we have won various quality related awards is a testimony of our attention focused on this area.&nbsp;</p>
<p>
	<strong>When did your company start exporting?</strong></p>
<p>
	We have been exporting our vehicles since the 1960’s but the real growth in export volumes has been experienced within the last ten years.</p>
<p>
	<strong>How is the performence of the products you are currently supplying in Nepal?</strong></p>
<p>
	In Nepal, we supply Mahindra vehicles with annual sales crossing 2000 numbers. We also sell tractors with both the Mahindra and Swaraj badge, with annual sales of about 2000 numbers. We are currently focusing on expanding our product range in all the segments we are present in.</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	There is a big demand of our products and our sales are also rising here. &nbsp;The Nepal market is a vital one for us.</p>
<p>
	<strong>Why should a consumer choose your products?</strong></p>
<p>
	Aside from the fact that the Mahindra brand is associated with trust, durability and reliability, we have always prided ourselves on high service levels. We keep the customer and his or her needs in mind when designing our products and we focus on getting better technology, services and operating costs.</p>
<p>
	<strong>How do you see the South Asian market? &nbsp;</strong></p>
<p>
	The competition is very fierce in this market. South Asian and other developing countries offer a great deal of opportunity for our business. We have been present in this region for a while now and have grown and evolved along with the rapidly changing 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 a very competitive market. The size of the market has decreased but we are confident about the prospects for growth. Mahindra is focusing on customer centricity and ensuring a robust after sales network along with our dealer, Agni.</p>',
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			'created' => '2013-05-22',
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			'keywords' => 'Developing countries offer a great deal of opportunity for our business, Visiting Business People, Pradeep Kumar',
			'description' => 'Pradeep Kumar, Vice President of Mahindra and Mahindra for international operations of Auto & Farm sectors in Asia and Australia, was recently in Nepal when he talked to Sujan Dhungana of New Business Age about his company’s business in Nepal.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '990',
			'article_category_id' => '73',
			'title' => 'Investment Friendly Environment Is Needed To Attract Foreign Investors',
			'sub_title' => '',
			'summary' => null,
			'content' => '<address>
	<strong style="font-size: 12px;">Alf Arne Ramslien</strong></address>
<address>
	<strong style="font-size: 12px;">Ambassador</strong></address>
<address>
	<strong style="font-size: 12px;">The Royal Norwegian Embassy, Nepal</strong></address>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong>How has your experience in Nepal been?</strong></p>
<p>
	I have been very delighted by coming to Nepal and have felt much welcomed. Coming to Nepal has been a very special experience and I regard Nepalis second only to Norwegians personally. I have spent over 20 years in this sub continent and I really appreciate Nepali people.</p>
<p>
	<strong>Nepal’s political situation is in transition period. What are your comments on this?</strong></p>
<p>
	I am very much pleased that political parties are slowly moving ahead. I believe that we should have great respect for complexity of things. It has also been recognized that Nepal’s peace process stands to be one of the most successful peace processes ever in the world. Moreover, it has been demonstrated that not a single bullet has been fired after the peace process. The important thing is that the Maoist commanders are now being integrated in the Nepali Army. These factors show that Nepal’s politics is moving to a brighter side.</p>
<p>
	<strong>So, how do you assess Nepal’s economic situation?</strong></p>
<p>
	We have to regret the fact that Nepal’s potential for economic development has not been tapped. Nepal has tremendous potential, basically linked to the hydropower energy areas. Hydropower is, in fact, the backbone of Nepal’s future, both socially and economically. Only 0.4 percent of the total commercial resources of hydropower have been tapped properly. The irony is that over 100 years have been spent in harnessing only 0.4 percent of the total capacity.</p>
<p>
	<strong>Hydropower is one of the areas Norwegian government has been focusing on in Nepal. What is your assessment of effectiveness of such aid?</strong></p>
<p>
	It is a fact that we have kept hydropower as our top agenda here in Nepal and it is because the sector has core potential in the country. We are supporting the government here in building up the competence. The largest percent of hydropower related human resources in Nepal are educated in Norway. Similarly, we have extensive institutional cooperation between institutions related to electricity. In order to redefine and grasp the potentiality of different river sources, regarding the generation of electricity, various researches and programmes are being initiated by Norway. We also have a policy that supports the government in selling up transmission lines. For instance, we have invested in the transmission line from Upper Tamakoshi to Kathmandu, which is still an ongoing process. However, we are hoping to have a good development of investment-friendly environment &nbsp;in Nepal, so that foreign investors are attracted. Moreover, SN Power, a Norwegian company, is here in Nepal to invest in hydro and dialogue with the government is going on. They have shown keen interest in Tamakoshi-3 project.</p>
<p>
	<strong>What reasons do you find behind Nepal’s inability to meet its potentiality in energy?</strong></p>
<p>
	The reason to be highlighted is the lack of proper investment &nbsp;environment for the private sector in the past. There has been no direct investment from government itself to invest a huge amount in the energy sector. However, it is a good thing that now the investment in energy sector has been made open for the private sector. The next thing required is a reform in the responsible institutions. NEA, being a largest body, should be reformed and it has to be effective as the responsible authority.</p>
<p>
	<strong>What is the annual investment of Norway in Nepal?</strong></p>
<p>
	&nbsp;Investors are the private companies like SN Power. We are here to facilitate the people through grant basis. We are here to help stimulating processes and projects in coordination with the government. The budget spent is around 20 million US dollar. However, this is not the investment.</p>
<p>
	<strong>What are the other concerned areas of Norway in Nepal, besides energy?</strong></p>
<p>
	We pay high attention to the education sector of Nepal. We conduct various educational reform programmes. I would also personally give tribute to the educational success that Nepal has achieved. The whole world has recognized the achievement. &nbsp;According to the figure, almost 95 percent of the children are now attending school in Nepal. &nbsp;Beside this, good governance is also one of our core areas.</p>',
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			'description' => 'I have been very delighted by coming to Nepal and have felt much welcomed. Coming to Nepal has been a very special experience and I regard Nepalis second only to Norwegians personally. I have spent over 20 years in this sub continent and I really appreciate Nepali people.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '989',
			'article_category_id' => '34',
			'title' => 'Norway: Nepal’s Reliable Development Partner',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>By Sujan Dhungana and Sushila Budhathoki</strong></p>
<p>
	Nepal established diplomatic relations with Norway, a constitutional monarchy in Northern Europe on January 26, 1973. Norway, opened a residential embassy in Kathmandu in January 2000. &nbsp;The Nepali Embassy in Copenhagen, Denmark, oversees the diplomatic activities with Norway as well because Nepal does not have a residential embassy there.</p>
<p>
	With a population of five million inhabitants, Norway is one of the five countries comprising the Nordic Region while it remains outside the European Union. An increasing demand for a wide range of quality imported goods and services of all kinds make it the right country for exportable products and quality services. Norway, a modern and highly developed country, has a strong and stable economy. It has achieved enviable progress in human development. According to the UNDP’s Report in 2010, Norway heads the group of 42 very high human development countries being world’s first country in terms of human development. Norway also has the second highest GNP per capita in the world (USD 55,600) in terms of purchasing power parity.&nbsp;</p>
<p>
	Norway’s economy is essentially based on the exploitation of its natural resources, mainly oil, gas, hydroelectric power, forests and minerals. &nbsp;Oil production dominates the economy, accounting for nearly a quarter of the GNP. Norway is also a major producer and exporter of natural gas. &nbsp;The service sector in Norway is also a highly developed one. Norway’s agriculture contributes to about 2% of the GNP and fishery is a major activity, making Norway the biggest exporter of fish in the world.&nbsp;</p>
<p>
	<strong>Visit exchanges</strong></p>
<p>
	The number of visits at different levels from both sides depicts the increasing interests between Norway and Nepal and has helped in strengthening the relationship between the two countries. Prime Minister Jens Stoltenberg paid a one-day visit to Nepal on February 8, 2008. Foreign Minister, &nbsp;Knut Vollebaek, also visited Nepal in January 2000. Similarly, in June 2012, Minister for International Development, Heikki Holmas, visited the country and the Minister for Environment and Development, Erik Solheim, paid a visit &nbsp;in January 2012. Earlier, he had visited Nepal twice in different ministerial capacities. &nbsp;</p>
<p>
	The then Prime Minister, Pushpa Kamal Dahal, paid an official visit to Norway in March 2009 and Upendra Yadav, Minister for Foreign Affairs, participated in the International Conference entitled “Melting Ice – Regional Dramas, Global Wake-up Call” in April in the same year. Earlier, the then Minister for Foreign Affairs, Chakra Prasad Bastola, &nbsp;also travelled to Norway in September 2000 responding to an invitation of &nbsp;the Norwegian Foreign Minister.&nbsp;</p>
<p>
	<strong>Norway’s support</strong></p>
<p>
	Norway has been voluntarily supporting different projects in Nepal through different NGO’s and bilateral organization since 1960s. The country has regularly provided aid to different sectors in Nepal and has supported different development projects. Some of the sectors covered by Norwegian aid are climate, environment and food production, conflict prevention and resolution and peace and security. There are other sectors also subsidized by Norway such as education, energy generation and supply, government and civil society, among others. The aid from Norway to Nepal is consistent since 2009 (See graph).&nbsp;</p>
<p>
	The Government of Norway has provided NOK 30.6 million for Nepal Peace Trust Fund. This country is also taking the initiative on the third country resettlement of Bhutanese refugees. According to the Ministry of Foreign Affairs Nepal, Norwegian firms have invested Rs. 1135 million in 12 various projects in Nepal, which have generated 726 employment opportunities until July 2012. Norway also supports Nepal through UN agencies, good governance and private sector development, focused on hydropower and electrification. It is also supporting Rural Renewable Energy and Development through Energy Sector Assistance Program (ESAP), which has provided significant results in terms of improving cooking stoves and rural electrification (solar home systems and micro hydro). Regarding the academic field, Norway &nbsp; offers NORAD (Norwegian Agency for Development Cooperation) annual fellowships to Nepali students in different fields of studies.&nbsp;</p>
<p>
	<strong><img alt="Aid from the Royal Norwegian Embassy" height="623" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(3).jpg" width="517" /><br />
	</strong></p>
<p>
	<strong>Cooperation</strong></p>
<p>
	The cooperation between the two governments started with the signing of a memorandum of understanding (MoU) in 1996. &nbsp;According to Royal Norwegian Embassy, the cooperation is based on shared dedication to achieve the Millennium Development Goals (MDGs). Norway has been prioritizing key areas of cooperation in four sectors, namely peace building, democracy and inclusive governance, education and energy. There are cross- cutting issues like peace and human rights, environment, gender and equality and anti-corruption for all projects .&nbsp;</p>
<p>
	Norway has been a key partner to Nepal in exploiting hydropower resources. The country has a number of &nbsp;cooperation in the hydro power sector in Nepal. Some of them are Himal Hydro and General Construction Company, Butwal Power Company, Himal Power Ltd, National Hydro Power Co. and Nepal Hydro and Electric Pvt. Ltd. &nbsp;According to the Royal Norwegian Embassy, Norway is currently focusing in three thematic areas, namely accelerated hydro power development, rural renewable energy and development and technical energy research in energy sector. &nbsp;</p>
<p>
	Norway is also interested in supporting Nepal when conducting a feasibility study of different large scale projects. The Royal Norwegian Embassy in Nepal is currently working on developing new plans to support Nepal regarding energy sector; the Norwegian mission in Nepal has posted on its website. &nbsp;Moreover, with the 60 per cent financial contribution from NORAD, Turbine Testing Lab of Kathmandu University is running a three- year project which started in August 2010. &nbsp;According to Kathmandu University, the project would give a platform and foundation for associated professional parties to come together and create a turbine manufacturer in Nepal.&nbsp;</p>
<p>
	<img alt="Trade with Norway" height="221" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(1)(1).jpg" width="446" /></p>
<p>
	<img alt="Tourist arrival in Nepal from Norway" height="248" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="220" /></p>
<p>
	<strong>Trade and Tourism</strong></p>
<p>
	The agreement on avoidance of double taxation with Norway, signed in 1996, has been regarded as one of the reasons behind the growing trade between both countries. &nbsp;The trade figure of TEPC (Trade and Export Promotion Center) shows the growing trade both in imports and exports &nbsp;between the two countries. &nbsp;Nepal exported goods worth Rs 41.37 billion in 2009. In 2012 it was Rs 52 billion. Similarly, it imported goods worth Rs 22.52 billion and Rs 96 billion in the year 2009 and 2012 respectively. Thus Nepal had a trade surplus in 2009 and 2010, but in the recent years Nepal has a trade deficit.&nbsp;</p>
<p>
	Norway is the first country to register Nepali Pashmina products. Nepal mainly exports products such as paperboard, articles of paper pulp, coffee, tea, essential oils, cosmetics or toilet preparations, ceramic products and carpets among others. The imports from Norway are comprised of products like fish and crustaceans, aluminum, rubber, boilers, machinery or mechanical appliances. The flow of Norwegian tourists visiting Nepal is also rising. According to the data provided by the Ministry of Foreign Affairs, Norwegians are among major tourists visiting Nepal.&nbsp;</p>
<p>
	<img alt="Facts and figures about Norway" height="420" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(2).jpg" width="446" /></p>',
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			'keywords' => 'Norway: Nepal’s Reliable Development Partner, Bilateral Relationship, New Business Age',
			'description' => 'Norway has been supporting different projects in Nepal through different NGOs and bilateral organization since 1960s.',
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			'id' => '987',
			'article_category_id' => '37',
			'title' => 'Economic Policy’s Narrative Imperative',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>By Kemal Derviş</strong></p>
<p>
	<span style="font-size: 12px;">The best advice I received when taking up policymaking responsibilities in Turkey more than a decade ago was to take “a lot of time and care to develop and communicate the ‘narrative’ to support the policy program that you want to succeed.” The more that economic policy is subject to public debate – that is, the more democracy there is – the more important such policy narratives are.</span></p>
<p>
	The crisis faced by the European Union and the eurozone is a telling example of the need for a narrative that explains public policy and generates political support for it. A successful narrative can be neither too complicated nor simplistic. It must capture the imagination, address the public’s anxieties, and generate realistic hope. Voters often sense cheap populism.</p>
<p>
	European Central Bank President Mario Draghi provided such a narrative to the financial markets last July. He said that the ECB would do everything necessary to prevent the disintegration of the euro, adding simply: “Believe me, it will be enough.”</p>
<p>
	With that sentence, Draghi eliminated the perceived re-denomination tail risk that was highest in the case of Greece, but that was driving up borrowing costs in Spain, Italy, and Portugal as well. It was not a populist message, because the ECB does indeed have the firepower to buy enough sovereign bonds on the secondary market to put a ceiling on interest rates, at least for many months.</p>
<p>
	Central bankers, more generally, are typically able to provide short- or medium-term narratives to financial markets. US Federal Reserve Board Chairman Ben Bernanke provided his own by pledging that US short-term interest rates would remain very low, and the Bank of Japan’s new chairman, Haruhiko Kuroda, has just provided another by saying that he will double the money supply so that inflation reaches 2%.</p>
<p>
	While central bankers can provide such narratives to financial markets, it is political leaders who must provide the overall socioeconomic messages that encourage long-term real investment, electoral support for reform, and hope for the future. Central bank alchemy, to borrow a term from the US journalist Neil Irwin’s new book, has its limits.</p>
<p>
	Europe, in particular, needs a narrative of long-term hope that will trigger a real recovery. France is coming closer to the danger zone, and even Germany’s annual GDP growth is falling well below 1% per year. In the meantime, the easing of sovereign interest-rate spreads provides little comfort to the growing army of unemployed in southern Europe, where youth unemployment has reached dramatic heights – close to 60% in Greece and Spain, and almost 40% in Italy.</p>
<p>
	The narrative should address three essential questions. How can the European model of strong social solidarity and security be reformed, but endure? How can economic growth be revived and sustained throughout the EU? And how can Europe’s institutions function with enhanced legitimacy to accommodate countries that share the euro and others that retain their national currencies?</p>
<p>
	For starters, a revolution is required in the organization of work, learning, and leisure. Social solidarity, essential to European identity, can and must include longer work lives, but also more work-sharing, adult learning, and shorter average work weeks (particularly close to retirement).&nbsp;</p>
<p>
	Such flexibility requires the consent of all: employees must adjust to changing requirements; employers must re-organize their enterprises to allow more work-sharing, work from home, and learning intervals; and governments must overhaul taxes, income support, and regulation to promote a “flex-solidarity revolution” that encourages personal choice and responsibility, while remaining committed to social cohesion. This can lead to a better future for all, with citizens gaining better access to adult education, having more free time to pursue personal interests, and remaining productive and occupationally engaged far longer into their healthy lives.</p>
<p>
	Europe does not need Asia’s rates of economic growth. It can secure decent jobs and prosperity, with a sustained annual growth rate of around 2%. To achieve that, German voters should be told not that their country’s resources will forever flow to Spain, but that their wages can rise at twice the rate of the recent past without risking inflation or a current-account deficit, because Germany has the world’s largest external surplus.</p>
<p>
	Service-sector industries throughout the EU must be opened up. The countries with stronger fiscal positions should take the lead in a major pan-European skill-upgrading program. The number of pan-European scholarships should be doubled. School programs everywhere should aim to educate trilingual citizens.</p>
<p>
	Moreover, a full European banking union with shared resources for resolution should be created without further delay. The European Investment Bank, which received a significant capital increase in 2012, should add a large investment-support program for medium-size enterprises to its current operations, with a subsidy financed from the European budget to encourage first-time job takers for a limited period. Jobs and training for young people must be the centerpiece for the new growth pact, and projects must move ahead in “crisis mode,” rather than according to business as usual.</p>
<p>
	Finally, while monetary union obviously requires greater sharing of sovereignty, there should also be a “greater Europe” that includes the United Kingdom and others. This implies two-tier institutions that can accommodate both types of countries: the “euro-ins” and those that prefer to preserve their monetary sovereignty in a larger Europe built around a vibrant single market and common democratic values.</p>
<p>
	These interconnected visions can and must be realized if Europe is to thrive again. Together, they form a compelling narrative that European leaders must begin to articulate.</p>
<p>
	<span style="font-size:10px;">Kemal Derviş, former Minister of Economic Affairs of Turkey and former Administrator for the United Nations Development Program (UNDP), is Vice-President of the Brookings Institution.</span></p>
<p>
	<span style="font-size:10px;">Copyright: Project Syndicate, 2013.</span></p>',
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			'description' => 'For starters, a revolution is required in the organization of work, learning, and leisure. Social solidarity, essential to European identity, can and must include longer work lives, but also more work-sharing, adult learning, and shorter average work weeks.',
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			'id' => '1004',
			'article_category_id' => '85',
			'title' => 'Real Madrid Overtakes Man Utd In Forbes Rich List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.</span></p>
<p>
	Forbes now values the Spanish giant at $3.3bn (£2.2bn), with Man Utd in second place on $3.17bn. Barcelona is third. Forbes said Real Madrid's financial success came despite the continuing woes of the Spanish economy.</p>
<p>
	"Real Madrid has been consistently delivering the highest revenues of any soccer team in the world, despite an intense economic meltdown in Spain," said Forbes. "With superstars like Cristiano Ronaldo on the pitch, and coach Jose Mourinho on the bench, Real Madrid has thrived under the leadership of billionaire president Florentino Perez."</p>
<p>
	In coming to its figures, Forbes looks at a football club's various revenue streams, such as television money, ticket sales, merchandise and concessions.</p>
<p>
	After Barcelona on $2.6bn, Forbes found that Arsenal was the fourth richest club, worth $1.33bn, followed by Bayern Munich ($1.31bn), AC Milan ($945m), Chelsea ($901m), Juventus ($694m), Manchester City ($689m) and Liverpool ($651m). David Beckham, now with French team Paris St-Germain, was the highest earning player, followed by Real Madrid's Ronaldo.&nbsp;</p>',
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			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Real Madrid Overtakes Man Utd In Forbes Rich List, Global Biz Trends, New Business Age',
			'description' => 'Real Madrid has overtaken Manchester United as the world's most valuable football club, according to business magazine Forbes. It is the first time that Man Utd has lost the top spot since Forbes first started compiling its list in 2004.',
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			'title' => 'South Asia Regains Momentum But Faces Risks: World Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.</p>
<p>
	The combined growth of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka was just 4.7 percent in 2012, substantially below pre-crisis levels, according to the report.</p>
<p>
	A pick-up to 5.5 percent can be expected in 2013 with ongoing efforts to regain fiscal space and boost private investment, it said, adding that given the uncertain global environment, it will be important to strengthen the investment climate, noted the report.</p>
<p>
	"How countries manage their economies in the face of uncertainties in the global environment will be critical not only for addressing near-term current account and fiscal deficits but also for tackling South Asia's long-term challenges," said Martin Rama, chief economist for the South Asia Region at the World Bank.</p>
<p>
	The report, a twice-yearly look at South Asia's economic prospects, said that the region is now more vulnerable because current account balances have widened, foreign direct investment has slowed, and persistently high inflation has limited the ability for central banks to use monetary policy to counter any economic downturn.</p>',
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			'created' => '2013-05-23',
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			'keywords' => 'South Asia Regains Momentum But Faces Risks: World Bank, Global Biz Trends, New Business Age',
			'description' => 'South Asia is regaining its economic momentum, but the recovery in the region with the largest number of poor people could falter in the absence of a stronger investment climate, said the latest South Asia Economic Focus report of the World Bank.',
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			'id' => '1002',
			'article_category_id' => '85',
			'title' => 'Chinese Bank Tops Forbes Global 2000 List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.&nbsp;</span></p>
<p>
	Underscoring the power move by Chinese companies to top global rankings, China Construction Bank leaped 11 spots from last year to the number-two spot on the Forbes list of the world’s largest public companies. “This year’s list again reveals the dynamism of global business,” said Scott DeCarlo, the list editor.&nbsp;</p>
<p>
	Forbes said that ICBC -- The Industrial and Commercial Bank of China -- and CCB were bumped higher in the ranks by double-digit growth in both sales and profits in 2012, although annual profit growth for both banks was the slowest rate since they went public. ICBC brought in $37.8 billion in profits on $2.8 trillion in assets last yeat, while CCB earned $30.6 billion on $2.2 trillion in assets.&nbsp;</p>
<p>
	<span style="font-size: 12px;">“Most analysts don’t expect a banking crisis in China, but rising defaults and shrinking loan profitability are serious threats to the country’s banking system,” Forbes said. The rankings of the Forbes top 2000 are determined by an equal weighting of sales, profits, assets and market value.&nbsp;</span></p>
<p>
	Wall Street bank JPMorgan Chase, the world’s biggest company in 2011, slipped from number two in 2012 to number three in 2013 as sales dipped. US conglomerate General Electric moved down a notch to the fourth spot.. ExxonMobil, the US oil and gas giant, tumbled from its one-year reign at the top last year to the number-five spot, despite being the world’s most profitable company for the second year in a row with $44.9 billion in net income, Forbes said. Apple, which has vied over the past year with Exxon for the title of the world’s most valuable company by market capitalization, was tied at number 15 with Wal-Mart Stores.&nbsp;</p>
<p>
	Wal-Mart reclaimed the top perch as the word’s sales leader with 5.0 percent growth from Dutch-Anglo energy firm Royal Dutch Shell. Germany’s Allianz, South Korea’s Samsung Electronics, and US-based AT&amp;T joined the 25 top-ranked companies. Allianz gained the most ground, rising to 25th from 50th in last year’s list.&nbsp;</p>
<p>
	By country, the United States, adding 19 members, continued to dominate the list with 543 members, its highest total since 2009. Japan lost seven members, but at 251 remained the second-biggest country on the list. For the first time since the list began in 2004, Forbes said, China did not increase the number of its companies on the list. But it still had the third-largest presence with 136 members.&nbsp;</p>
<p>
	Forbes highlighted three Asian countries that showed standout overall growth in the list: Singapore, Thailand and Malaysia. &nbsp;Belgium, Turkey, and the United Arab Emirates had the biggest rise in company market values, growing by double digits from a year ago. Eleven countries had only one firm on the list, including New Zealand, the Czech Republic and Vietnam.</p>',
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			'keywords' => 'Chinese Bank Tops Forbes Global 2000 List, Global Biz Trends, New Business Age',
			'description' => 'Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world’s biggest public company Wednesday, ranking number-one for the first time on the Forbes Global 2000 list.',
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			'id' => '1001',
			'article_category_id' => '85',
			'title' => 'Japan Reports Record Annual Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports. A weak yen, which has dipped nearly 20% against the US dollar since November, also boosted the value of the imports.</p>
<p>
	Analysts said the deficit was likely to shrink in the coming months as the weaker yen will help Japan's exports. The yen has dipped after policymakers introduced aggressive measures aimed at spurring a fresh wave of economic growth and stoking domestic demand.</p>
<p>
	Japan, which has traditionally been known for its exports, has seen a shift in its trade pattern in recent times. It has seen its imports rise, driven mainly by an increased demand for fuel. This was after most of its nuclear reactors were shut after the earthquake and tsunami in 2011 which damaged the Fukushima Daiichi nuclear plant and resulted in radiation leaks. As a result, utility providers have had to turn to traditional thermal power stations to generate electricity. These power plants need natural gas and coal to operate, resulting in a surge in imports of these commodities.</p>
<p>
	Meanwhile, its exports have been hurt by a slump in demand from key markets such as the US and Europe, while a territorial dispute has hurt sales to China. That has seen it report a deficit for nine straight months.&nbsp;</p>',
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			'created' => '2013-05-23',
			'modified' => '2013-06-08',
			'keywords' => 'Japan Reports Record Annual Trade Deficit, Global Biz Trends, New Business Age',
			'description' => 'Japan, the world's third-largest economy, has reported a record trade deficit for the year to 31 March. The deficit hit 8.17tn yen ($83.4bn; £54.5bn) as a slump in global demand hurt exports, while greater domestic consumption of fuel boosted imports.',
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			'title' => 'Revisiting Nepali Consumers: Facts, Trends & Business Impacts',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong style="font-size: 12px;">Many believe that Nepal is still an under-explored market given the potential it has. The market is growing and chances of further expansion are still very high due to the increased awareness and affordability of consumers. The world’s leading brands available in Nepal have created an environment in which consumers can expect to get what they want. &nbsp;Every product has been putting their effort to get a hold in the market by expanding their consumer-base.&nbsp;</strong></p>
<p>
	<strong>Based on Purchasing Power Parity (PPP) Nepal’s Per Capita Income has doubled in 32 years. Recently released Human Development Report 2013 by the United Nations Development Program (UNDP) has revealed that the gross national income (GNI) per capita in PPP increased by 101 percent to US$ 1,137 in 2012 compared to 1980. Inflow of remittance and an large portion of youth population has made Nepal a potential market to companies.</strong></p>
<p>
	<strong>In this issue, New Business Age provides marketers and companies with some interesting insights to know the changing consumers landscape in Nepal.</strong></p>
<p>
	<span style="font-size: 12px;">In the capital Kathmandu, varieties of goods and shopping places can be found within a few minutes from their homes. People can find products according to their affordability. There are varieties of price ranges and choices to consumers. Family run groceries are still the norm in Nepal, but supermarkets and malls are also doing good business.&nbsp;</span></p>
<p>
	Despite economic slowdown, the consumption of fast-moving consumer goods (FMCGs) has not dropped but constantly going up. Nepal has been witnessing satisfactory growth in per capita food and non-food consumption expenditure. Household consumption of fast moving consumer goods (FMCGs) has also gone up. Multiple factors have contributed in expansion of Nepal’s market.&nbsp;</p>
<p>
	The visible growth of Nepal’s economy, especially income of the people, over the last decade has put more money in the pockets of the country’s middle class, prompting retailers to target this group of consumers.&nbsp;</p>
<p>
	<strong>Census 2011</strong></p>
<p>
	In the report of National Population and Housing Census 2011 published by the CBS, the population of the country has grown to 26.6 million with 1.35 percent annual growth rate since the last census that was concluded in 2001.</p>
<p>
	Thus, Nepal is the market of 26.6 million consumers including 12.8 million male population and 13.64 female. The census report shows that Terai region constitutes of 50.27 percent (13.31 million) of the total population. Similarly, hilly and mountain areas constitute 43 percent (11.39 million) and 6.73 percent (1,781,792) respectively.</p>
<p>
	Highlights:</p>
<ul>
	<li>
		Population: 26,494,505</li>
	<li>
		Households: 5,427,30</li>
	<li>
		Average household size: 4.88</li>
	<li>
		Sex ratio (number of males per 100 females): 94.2 (Number of male per 100 female)</li>
	<li>
		Urban population: 17 per cent</li>
	<li>
		Population density (average number of population per square km): 180</li>
</ul>
<p>
	<strong>Age Groups and Corresponding Market</strong></p>
<p>
	The age of the consumer determines the type of products sellable in the market.&nbsp;</p>
<p>
	Normally, a young person is fashion conscious in the choice of products, while a middle-aged person is status conscious.</p>
<p>
	The age group of 10-14 years of the population is seen the highest (when compared to other 5-year gap intervals) in Nepal as per the 2011 census data. Also, the female population is slightly more than that of males. There are 13,645,463 women in Nepal, which accounts for 51.5 percent of the total population, while the number of males is 12.84 million. &nbsp;Higher population of women shows that the market of cosmetics items, clothing and boutiques are very good in the country.&nbsp;</p>
<p>
	<img alt="Age Groups and Corresponding Market, Cover Story, Revisiting Nepali Consumers" height="304" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_age_group_and_corresponding_market.jpg" width="506" /></p>
<p>
	<strong>Youth Population</strong></p>
<p>
	The census data shows that more than half of the population, about 55 per cent, is below 25 years of age. According to the 2011 census report, some 34.91 per cent of the population is aged below 14 years and another 19.97 per cent is aged between 15-24 years.</p>
<p>
	This is one of the reasons why many world players are coming and establishing their presence here in the Nepali market. Young Nepalis today expect a lot more from their lives, and often face pressure that was unfamiliar to earlier generations. Young people often want to keep up with global fashions and market trends. Their passion of following global fashion and trends has created many opportunities in Nepali market. Though Nepali population is mostly young, the size of old-age population has been increasing as well offering increased opportunity for business that provide goods and services to aged.&nbsp;</p>
<p>
	<strong>Family Size and the Family Life Cycle</strong></p>
<p>
	The buying decision in a large family is more complex as several individuals play different buying roles, such as that of initiator, influencer, prayer, buyer and users, economist Dr Chiranjivi Nepal says. He opines that the large families generally buy a single brand while small families are found to be more brand-switching. Consumers’ product varies according to the stage of their family life cycle. The consumption pattern of a bachelor is different from that of a man with several children.</p>
<p>
	The average household size of Nepal is 4.88 as per the 2011 census data. The household size of the urban and rural was seen 4.32 and 5.02 respectively. The largest household size was seen in Rautahat district with 6.44 and the lowest of 3.92 in Kaski district.</p>
<p>
	<strong>Remittance</strong></p>
<p>
	Around 1,500 Nepali workers go abroad for employment every day and it is their remittance that keeps the Nepali economy afloat, opines economist Nepal.&nbsp;</p>
<p>
	According to the World Bank, Nepal ranked 6th in the world among top remittance-receiving countries in 2011, with remittances making up 20 per cent of its GDP. A total of 56 per cent of the total households in Nepal receive remittances. Of which, 48 per cent comes from international labour migration, according to Central Bureau of Statistics. Accounting for more than 20 per cent of the GDP, migrant labourers brought in Rs 359 billion in the last fiscal year alone.</p>
<p>
	<img alt="Remittance, Revisiting Nepali Consumers" height="206" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_remittance.jpg" width="515" /></p>
<p>
	<strong>Education</strong></p>
<p>
	Of the total population, 39.04 percent are at the level of primary education. The male population dominated all the regions of the country in the literacy level. 65.94 per cent of the total population are literate (can read and write) in Nepal. &nbsp;2.52 percent of the population of Nepal can read only as per census data. Kathmandu has the highest literacy rate and Humla, the lowest with 86.3 per cent and 47.8 per cent respectively. The school enrollment of Nepal is seen at 95.1 per cent as per census data. This means over 95 per cent of school going age population is actually enrolled in schools. This indicates to very good market for educational material and education-related services.</p>
<p>
	<img alt="Population Aged 5 years and above by Literacy Status, Revisiting Nepali Consumers, Cover Story" height="215" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_population_5years_above_literacy_status.jpg" width="528" /></p>
<p>
	<strong>Toilet Use</strong></p>
<p>
	More than one-third, i.e., 38.17 per cent of the Nepali population does not have toilet facility. In Terai region, a total of 51.24 per cent of population are still without toilet facility.&nbsp;</p>
<p>
	However, the trend of constructing the flush toilet and squat toilet with septic tank is increasing in the country including both in the rural as well as in urban areas. Therefore, the business of sanitary ware has also been going up.&nbsp;</p>
<p>
	<img alt="Toilet Use, Revisiting Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_toilet_use.jpg" /></p>
<p>
	<strong>Rural Market&nbsp;</strong></p>
<p>
	Though the business volume may be big in Kathmandu and urban areas, Nepali villages offer very good markets in terms of the number of consumers as about 82.30 per cent of the population of the country is living in rural areas.&nbsp;</p>
<p>
	Interestingly even some parts of the urban population &nbsp;have rural consumption behaviour. And urban characters can be seen also in some rural areas due to the influence of remittance, for example. However, purchasing capacity of rural community is low compared to urban population. Rural population still depends on agricultural activities. The consumption habit, however, has been changing in the rural areas too. One reason is the road access and the other is education. Also the availability of electricity and cable TV as well as opening of cinema halls in those rural areas have been changing the consumption habit in rural Nepal.</p>
<p>
	Many companies have been launching products targeting the rural population. Comparatively low-cost products and micro-packing are main strategies adopted by companies to get a hold in rural areas.&nbsp;</p>
<p>
	<img alt="Rural Market, Revisiting Nepali Consumers, Cover Story" height="86" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_rural_market.jpg" width="390" /></p>
<p>
	 </p>
<p>
	<strong>Fuel</strong></p>
<p>
	According to National Population Census 2011, Nepal still relies heavily on firewood to fulfill its fuel demand for the purpose of cooking. However, the consumption of Liquefied Petroleum Gas (LPG) has significantly increased in the recent years which has created lots of space for the business of LPG stoves, regulators, pipes, cylinders and other necessary accessories.&nbsp;</p>
<p>
	One interesting fact about source of fuel for cooking is that big urban districts like those in the capital (except Lalitpur), Parsa, Kaski and Morang do not feature among the top users of electricity. Obviously the frequent power outage and cheap price of LP Gas have prompted the households ot shift to LP Gas in those districts.</p>
<p>
	<img alt="Fuel, Revisiting Nepali Consumers, Cover Story" height="717" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_fuel(1).jpg" width="389" /></p>
<p>
	<strong>Lighting Sources</strong></p>
<p>
	Electricity is seen as the major source of lighting for Nepali households. Total of 67.26 percent of the population is using electricity as the source of lighting. Similarly, kerosene is the second major source of lighting (18.28 per cent). But these households suffer from frequent power outage.</p>
<p>
	This has created much opportunities for the traders of invertors and batteries as well as solar power systems.</p>
<p>
	Therefore, business of electricity accessories such as bulbs, wires, poles and ceiling lights is doing well in Nepali market. At the same time, business of solar energy has also gone up and possibility of bio-gas related business is also very high in the Nepali market.&nbsp;</p>
<p>
	<strong><img alt="Lighting Sources, Revisiting Nepali Consumers, Cover Story" height="607" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_lightening_sources.jpg" width="385" /><br />
	</strong></p>
<p>
	<strong>Religious Cultural Factors</strong></p>
<p>
	In September 2012, World’s famous fast food chain McDonalds launched its first vegetarian restaurants in India targeting Indian Hindu. The reason of launching vegetarian products was obvious that McDonalds did not want to lose Hindu consumers.&nbsp;</p>
<p>
	Cut-throat competition among various companies and outlets has created a scenario whereby all companies try to lure consumers by offering what they want. Nepal is multi-religion country and companies may want to tap consumers according to religion.&nbsp;</p>
<p>
	Consumer diversity is obviously very high in the country and creating more challenges for the marketers. There is diversity at multiple levels: ethnic and caste differences, religious diversities, rural-urban diversities, diversities in source of income and educational level along with others. Yet, there are many opportunities since the Nepali market is not fully explored so far. On top of all, Nepali consumers are very eager to try new products and services.&nbsp;</p>
<p>
	<img alt="Religious Cultural Factors, Revisitng Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_religious_cultural_factors.jpg" /></p>
<p>
	<img alt="Cultural Composition, Revisiting Nepali Consumers, Cover Story" height="393" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_religious_cultural_composition.jpg" width="496" /></p>
<p>
	<strong>Absent Population</strong></p>
<p>
	One in every four households (25.42%; 1.38 million households) reported that at least one member of their household is absent or is living out of country. Total number of absent population is found to be 1,921,494 in 2011 census against 762,181 in 2001. The highest proportion (44.81 percent) of absent population is from the age group 15 to 24 years. Gulmi, Arghakhanchi and Pyuthan districts reported the highest proportion of their population being absent (staying abroad).</p>
<p>
	<img alt="Top five Absent Population District, Revisiting Nepali Consumers, Cover Story" height="153" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_absent_population_district.jpg" width="595" /></p>
<p>
	<img alt="Top Ten Destination of Migrant Nepali Workers, Revisiting Nepali Consumers, Cover Story" height="764" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_remittance_migrant_workers.jpg" width="380" /></p>
<p>
	 </p>
<p>
	<strong>Media Consumption</strong></p>
<p>
	The media consumption patterns, profiles of audiences on different platforms and media types, and the effectiveness of advertising across platforms have been significantly changed over the last decade.&nbsp;<span style="font-size: 12px;">Consumers concentration has been shifted to the television from radio, according to Managing Director at JWT-Thompson Nepal Joydeb Chakravarty. “Ten years back the national media was radio but today more people watch television,” he says.&nbsp;</span></p>
<p>
	<span style="font-size: 12px;"><img alt="Media Consumption, Revisiting Nepali Consumers, Cover Story" height="262" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_media_consumption.jpg" width="521" /><br />
	</span></p>
<p>
	<strong>Computer and Internet</strong></p>
<p>
	Computers and Internet products are also growing day by day. The number of Internet users in Nepal has accelerated in the country. Access to the Internet has positive implications for society and the economy. A study carried out by Computer Association of Nepal (CAN) last year showed that the computer penetration rate in the country had crossed five per cent. The survey was carried out based on the record of import of computer monitors and branded laptops, according to CAN general secretary Narayan Neupane. The penetration rate of computer at present may have crossed eight, he says, adding that the trend of using computers is on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for their day-to-day activities.&nbsp;</p>
<p>
	<img alt="Computer and Internet, Revisiting Nepali Consumers, Cover Story" height="171" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_telephone.jpg" width="531" /></p>
<p>
	<strong style="font-size: 12px;">Automobiles</strong></p>
<p>
	Nepal has been seeing the penetration of two- and four-wheelers increasing at a rapid pace, thanks to the expansion of road connectivity and increased income of citizens. Expansions of road network throughout the country and a steep rise in the number of migrant workers have played a catalytic role in the growth of automobile sales.&nbsp;</p>
<p>
	So, many automobile brands have been able to establish themselves and automobile has become one of the largest customs duty contributors in the country. Nepali consumers have been using four-wheeler ranging from the most expensive one to the cheapest Nano car. Similarly, Nepal-assembled brands such as Mustang and Sherpa has also been rolling on Nepali roads. &nbsp;</p>
<p>
	<img alt="Top three districts with various Vehicles facilities, Revisiting Nepali Consumers, Cover Story" height="280" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_vehicles.jpg" width="533" /></p>
<p>
	<strong>ICT and Mobile</strong></p>
<p>
	Not only telecom sector but also the market of entire Information and Communication Technology (ICT) has expanded over the last few years. As far as mobile market is concerned, Nepal has approximately Rs 15 billion transaction every year, according to chairman of Mobile Traders Association of Nepal Purushottam Basnet. Nepal has been very potential market for mobile phone sets and other ICT products.</p>
<p>
	<img alt="Top three districts with ICT and Mobile, Revisiting Nepali Consumers, Cover Story" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_ict_mobile.jpg" /></p>
<p>
	<strong>Home Appliances&nbsp;</strong></p>
<p>
	Sales of the home appliances have tremendously increased over the last year. The sales of refrigerators, washing machines, vacuum cleaners, LEDs and LCDs has boosted in the recent years. Besides, people living in urban areas are continuously upgrading their living standards, and home appliances are deemed as components that add value to their living condition. The market of home appliances has also increased in the rural areas too.&nbsp;</p>
<p>
	<img alt="Top three districts with  Refrigerator facilities, Revisiting Nepali Consumers, Cover Story" height="160" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/cover_story_may2013_revisiting_nepali_consumers_home_appliances.jpg" width="532" /></p>
<p>
	<span style="font-size: 12px;">Consumer diversity is obviously very high in the country and creating more challenges for the marketers. There is diversity at multiple levels: ethnic and caste differences, religious diversities, rural-urban diversities, diversities in source of income and educational level along with others. Yet, there are many opportunities since the Nepali market is not fully explored so far. On top of all, Nepali consumers are very eager to try new products and services.&nbsp;</span></p>',
			'published' => true,
			'created' => '2013-05-22',
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			'keywords' => 'Revisiting Nepali Consumers: Facts, Trends & Business Impacts, Cover Story, New Business Age',
			'description' => 'Many believe that Nepal is still an under-explored market given the potential it has. The market is growing and chances of further expansion are still very high due to the increased awareness and affordability of consumers.',
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		'Article' => array(
			'id' => '999',
			'article_category_id' => '40',
			'title' => 'Young Consumers Have Smart Perspective On How To Spend Money',
			'sub_title' => '',
			'summary' => null,
			'content' => '<address>
	<strong>Mani Raj Dahal</strong></address>
<address>
	<strong>Country Manager</strong></address>
<address>
	<strong>The Nielsen Company Nepal Pvt Ltd</strong></address>
<p>
	<span style="font-size: 12px;"><br />
	</span></p>
<p>
	<span style="font-size: 12px;">It is very important to assess how the market is doing and what the current trends of consumption are to revisit the consumers. Nepal is still an unexplored market in many fields and, therefore, it offers possibilities of market expansion to companies. It is worthwhile to mention here that the spending and consumption habit of consumers are positive in Nepal, despite the huge political problems the country is going through.&nbsp;</span></p>
<p>
	<strong>Rising Consumerism&nbsp;</strong></p>
<p>
	There is a tremendous potential in the country for companies to expand their products and services.&nbsp;<span style="font-size: 12px;">The swelling consumerism has seen the introduction of a range of new products like ready-to-eat snack foods, breakfast cereals, textures vegetable protein foods and so on. Different brands of the same item and attractive packaging vie &nbsp;for the consumers’ attention.</span></p>
<p>
	<strong>Spending Capacity</strong></p>
<p>
	The increased spending capacity of consumers is really a good sign in the Nepali market. &nbsp;The inflow of remittance and tourism have contributed to increase the income of consumers. The purchasing power of consumers has a direct impact on the market expansion.&nbsp;</p>
<p>
	Every investor asks some questions before starting a business: how big is the market and what are the possibilities of growing? And the scenario in Nepal is not so bad. Though Nepali market is not that big, there’s enough room for new companies and brands.&nbsp;</p>
<p>
	<strong>Youth Focused Market</strong></p>
<p>
	At present, the consumption of Nepali young generation forms a thriving market. Young consumers are usually impressed with branded and quality goods and services then being purely price sensitive . Companies and service providers can take advantage of this to further set up their brand image.<span style="font-size: 12px;">The young generation enjoys a staggering amount of purchasing power in the country due to foreign employment and inflow of remittance. Young consumers not only have money, but also have smart perspectives on how to&nbsp;</span><span style="font-size: 12px;">spend money.&nbsp;</span></p>
<p>
	<strong>Consumerism and Socialisation</strong></p>
<p>
	It is really interesting to mention here that Nepali culture has changed over the years due to technology and consumerism.&nbsp;<span style="font-size: 12px;">Our socialization process has changed, compared to some years ago. Lifestyle and consumption habits are considered to be the main reason for the socialization and it is obvious that the process of socialization has changed throughout the last one or two decades. For instance, we can take café culture, business in Valentine Day or may be English New Year.&nbsp;</span></p>
<p>
	<strong>Nepali Products</strong></p>
<p>
	Entrepreneurship is something that will help the country to achieve sustainable development. The chances of entrepreneurship are very high in Nepal, all we need is creative minds and creative ideas. In Nepal, the chances of branding local products are very high. Nepali people are very much habituated to consume Nepali food and drinks trend and young entrepreneurs can establish Nepali brands of that sector. The typical Nepali style goods are also making their brands .</p>
<p>
	<strong>Price Hike Impact&nbsp;</strong></p>
<p>
	It is an interesting fact that in Nepal, despite the frequent price hike of Fast-moving Consumers Goods (FMCG), the market has not seen a drop in the demand of such goods. This indicates that consumers have got the capacity and are willing to pay more for the products of their choice of consumption.</p>',
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			'keywords' => 'Young Consumers Have Smart Perspective On How To Spend Money, Cover story, New Business Age, May 2013',
			'description' => 'Entrepreneurship is something that will help the country to achieve sustainable development.',
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			'title' => 'When You Build Your Own Brand You Are Able To Command A Premium Rate',
			'sub_title' => '',
			'summary' => null,
			'content' => '<address>
	<strong><span style="font-size: 12px;">Joydeb Chakravarty</span></strong></address>
<address>
	<strong>Managing Director</strong></address>
<address>
	<strong>JWT-Thompson Nepal</strong></address>
<p></p>
<p>
	<strong style="font-size: 12px;">Excerpts:</strong></p>
<p>
	<strong style="font-size: 12px;">Some experts say that Nepal is still an untapped and unexplored market. Do you agree?</strong></p>
<p>
	Nepal was first country in the region to be exposed to international brands. Some 30 years back, India did not have the access and exposure to the brands that were here in Nepal. Nepali consumers have always been exposed to these kinds of international brands for last 30-40 years. So, when local brands try to enter this market they find it a challenge because consumers benchmark it with international brands that they have already used. It could be in any category, but the consumers give it a fair trial and if it does not meet their expectations then they have no hesitation in rejecting it. The Nepali consumers are very discerning indeed!</p>
<p>
	<strong>Can you please tell us some major differences in the consumers’ behavior in the past and present?</strong></p>
<p>
	Today the consumers have a different kind of exposure because of the reach and penetration of the international media. This has had very large impact to the consumers’ psyche. When you look at the way people dress, we see they are following the world’s leading trends. Nepali consumers’ tastes and trends have evolved over the last couple of decades. Look at the way they have embraced new technology, new gadgets and even smart phones. Look at two wheeler sector, earlier people went for something functional but not anymore. Now they want a higher-end bike to go with their perceived self-image. People have a much higher level of aspiration now, and want to show that through their material possession.&nbsp;</p>
<p>
	<strong>What are the practices of the companies regarding study of consumers’ buying behavior in Nepal?</strong></p>
<p>
	Client and organizations in Nepal are talking about research. Although, they might not always employ a professional research agency, they might want to do research in-house, through their own team, which is not the right way to do it, but it still goes some way. Earlier there a few companies who actually believed in market and consumer research but that’s changed. We now see that clients and companies are talking about research, which is a very positive sign.</p>
<p>
	<strong>How is the branding practice in Nepal? How important is branding from your perspective?</strong></p>
<p>
	Branding has caught on over the last two decades. Everything now seems to be branded. I am just not talking about the consumer goods, but commodities which at one time were sold loosely are now branded. Companies have now come to realize and appreciate that when you build your own brand you are able to command a premium rate.</p>
<p>
	<strong>What is the media consumption habit of Nepali consumers right now?</strong></p>
<p>
	If you see the ownership in the durables likes colour television (63% in 2012 Vs 13% in 2003), radio, refrigerator and mobile phones have drastically increased. Ten years back the national media was primarily radio based but today there are more people watching television than listening to the radio. Obviously radio has not been able to catch the imagination the listeners, while television has caught on despite having more than 350 FM radio channels in Nepal. The print too have taken its toll, readership has gone down over the last ten years even though literacy has gone up. The reason could be the high cover price of newspapers. The usage of the internet has gone up drastically from 2% in 2002 to more than 25% in 2012.&nbsp;</p>
<p>
	<strong>How do you envisage the importance of advertisement to catch the emotional side of consumers?</strong></p>
<p>
	If you are unable to connect with your customers on an emotional level, you will not be able to engage with them meaningfully. Consumers today have many interests and they are not waiting to see your advertisements! Unless you are able to make an emotional connection with your customers; make your advertisements distinctive, emotional, entertaining and engaging otherwise you cannot hope to catch their attention.</p>
<p>
	<strong>What are the contributing factors in the quality of advertisements? What are the reasons behind low quality of advertisement in Nepal?&nbsp;</strong></p>
<p>
	Over the last few years the quality of advertisements has not matched the expectation of the Nepali consumers. &nbsp;There are many reasons for that, no one wants to take a ‘risk’ and everyone wants to ‘play safe’. Companies feel that if they come up with a “creative” advertisement it might go over the head of their audience. There is very little the advertising agencies can do in that kind of a scenario. This is also compounded by the severe shortage of creative people in the advertising sector. Moreover, top quality advertising production – especially films cost huge amounts of money. The market here is very small compared to other countries&nbsp;<span style="font-size: 12px;">in the region.&nbsp;</span></p>',
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			'modified' => '2013-05-22',
			'keywords' => 'When You Build Your Own Brand You Are Able To Command A Premium Rate, cover story, New Business Age',
			'description' => 'Nepal was first country in the region to be exposed to international brands. Some 30 years back, India did not have the access and exposure to the brands that were here in Nepal. Nepali consumers have always been exposed to these kinds of international brands for last 30-40 years.',
			'sortorder' => '873',
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	(int) 7 => array(
		'Article' => array(
			'id' => '996',
			'article_category_id' => '50',
			'title' => 'New Year Hues',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	The rise of the middle and upper middle class and the growing income this sector of the society enjoys definitely have increased consumeriism. In the Nepali context, not only these factors have been contributing to the growing level of consumption of both FMCGs (Fast Moving Consumer Goods) and durables. The increasing remittance from migrant workers potentially goes for consumption too. Consumption is naturally the top priority for the families of the migrant workers with a humble economic background. &nbsp;However, it is important to note that these consumers are not considered to be brand conscious. Urban dwellers and, especially, the youths are the ones concerned and lured by the flashy brand names.&nbsp;</p>
<p>
	Various well known global brands have their presence in Nepal in different product categories. The festive seasons are the moments when there is an opportunity for these brands to potentially increase sales, more than in “normal days.” Consumers also want to make festivals a special occasion by shopping new goods. The New Year 2070 seems to be the perfect occasion: customers buy more and sellers try to sell more as well. To make this happen, business get involved in aggressive marketing strategies. This is an attempt to create a win-win situation for both.</p>
<p>
	<strong>Sangam Khadka, Baneshwor</strong></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '0000-00-00',
			'keywords' => 'New Year Hues, Feedback, New Business Age',
			'description' => 'The rise of the middle and upper middle class and the growing income this sector of the society enjoys definitely have increased consumeriism. In the Nepali context, not only these factors have been contributing to the growing level of consumption of both FMCGs (Fast Moving Consumer Goods) and durables.',
			'sortorder' => '872',
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	(int) 8 => array(
		'Article' => array(
			'id' => '995',
			'article_category_id' => '50',
			'title' => 'Extend The Value Chain',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	I find New Business Age magazine loaded with relevant content. I believe that the reading habit of today’s youth is oriented towards byte sized articles. Additionally, articles could be more attractive and easier to comprehend with the use of graphics. Enlivening the contents in such a manner would be a challenge for contributory guest articles, but if the magazine could offer a way to do it and the approval from the author, the suggested improvements could be achieved. &nbsp;&nbsp;</p>
<p>
	I think that the core readers of this magazine are young executives and management students. What they really crave for is information - latest trends, developments, concepts, models… etc. I wonder, is it possible to feature an exec-summary with every issue that touches 5 to 10 important points under various categories For example, these could be latest concepts in H.R., governance, CSR, marketing, branding orleadership. Each point could be a 3-4 liner as in intro. The reader can do research by him or herself if the subject is relevant.</p>
<p>
	I believe that any educational forum or magazine (like this one) has a dual role to play: pass on domain knowledge and also imbibe certain values and attributes that make humans better. After all, the quality of a human being defines the way he or she &nbsp;operates in a value-challenged environment. Could your magazines carry a regular feature that helps the reader to understand the difference between pursuing success and excellence? Is the publication group into creating experiential platforms that bring alive the various theories propounded in these magazines? Such activities would extend the value chain and would go a long way to create domain leadership.&nbsp;</p>
<p>
	<strong>Manosh R. Sengupta, Brand-Parent, Nurturer, Mentor, brand-@itude</strong></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '0000-00-00',
			'keywords' => 'Extend The Value Chain, Feedback, New Business Age',
			'description' => 'I find New Business Age magazine loaded with relevant content. I believe that the reading habit of today’s youth is oriented towards byte sized articles. Additionally, articles could be more attractive and easier to comprehend with the use of graphics.',
			'sortorder' => '871',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	),
	(int) 9 => array(
		'Article' => array(
			'id' => '994',
			'article_category_id' => '50',
			'title' => 'Airlines Merger',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	 </p>
<p>
	As TR Manandhar, Director General of CAAN, said (New Business Age, April 2013) the number of airlines is higher than what the &nbsp;market can sustain. In a condition where tourism is not yet at a peak, the domestic market for aviation in Nepal is still untapped and some rural destinations can be developed that can be reached more conveniently by air than by land. &nbsp;Airlines have been facing problems in generating profits because of the high operational cost and inadequate capital base. In the current situation, as Manandhar suggests, it would be wise to merge airline companies. That would increase the fleet size, the capital base and the reach. The merger of companies &nbsp;would also help them operate by being one robust company.</p>
<p>
	<strong>Binita Sharma, Pokhara</strong></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '0000-00-00',
			'keywords' => 'Airlines Merger, Feedback, New Business Age',
			'description' => 'As TR Manandhar, Director General of CAAN, said (New Business Age, April 2013) the number of airlines is higher than what the  market can sustain.',
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '992',
			'article_category_id' => '52',
			'title' => 'Political Copycats',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal’s private sector seems to have extracted every possible evils from our debasing political environment. The country’s business community is always expected to set good examples of best practices, leadership, magnanimity and vision that could be replicable even by politicians. Sadly though, these supposedly rich, learned, professional and responsible business leaders themselves seem determined to ruin umbrella business organizations like FNCCI (Federation of Nepalese Chamber of Commerce and Industry) and NCC (Nepal Chamber of Commerce), thus far largely saved from the meanness of dirty politics.</p>
<p>
	All but one out of a dozen former presidents of FNCCI boycotted the 47th AGM of the organization held in the first week of April, allegedly protesting the ‘unprofessional’ behaviour of the incumbent President. The past presidents are also ex-officio advisers to the organization and, failure of the entire brigade to turn up in the event was indeed an unwanted precedent.</p>
<p>
	Existence of lobbies in such organizations is but natural. Albeit, it is the responsibility of the leadership to accommodate the differing views within organization and address the genuine concerns of members. But the opponents argue that ever since his election, the present president has been inaccessible and impervious to the well-being of the institution. Without going into the exercise to verify the truth behind this claim, it can be safely concluded that the leaders of the chambers are finding it hard to reconcile their businessman traits (that in Nepal requires being selective in socializing) and social leader traits (that virtually requires complete sacrifice of private life). &nbsp;&nbsp;</p>
<p>
	Likewise, 60th AGM row in the country’s oldest organization of the business community, NCC, has invited shameful hostilities between the lobbies of President Suresh Basnet and Vice-president Lokmanya Golchha. It went to the extent that the Golchha lobby held a separate press conference in early April alleging Basnet of taking the entire organization for ransom. Before that, the office was padlocked for almost a month, ironically, at the behest of the incumbent president.&nbsp;</p>
<p>
	Both in FNCCI and NCC, lust for clinging to power who are already in positions or ousting the incumbent by any means by the opponents are at the heart of all these misadventures. All of them seem to have forgotten the values of democracy and importance of fairness in the game of ballots. Equally so, those in the hot seats have failed to uphold the dignity their respective positions deserved. Instead, they seems to have either believed in no-inclusive decision making or use of extraneous tricks other than winning the heart of own constituencies to remain in or gain crucial positions. This is exactly what our business leaders have learnt from our politicians and political culture -- undermine democracy and dance haywire, shamelessly in public.</p>
<p>
	&nbsp;This is perhaps the time the country’s private sector came up with some prescription to revive sluggish economy. The GDP growth rate for this year is predicted to less than 3.5 percent and contribution of the manufacturing and formal business sector is even negligible. This unimpressive performance of the economy without any strikingly visible barrier to growth manifests even cancerous trend of gradual decay. It is the private sector that should now come-up with a blue-print for its rescue.</p>
<p>
	There are other more serious business for business leaders than political-type bickering among themselves. The private sector has constantly blamed to the unstable and hostile politics for Nepal being unable to attract the foreign investment, among other. But, international business community has started to doubt on the very credentials of Nepal’s private sector. One of the crucial questions asked is why the real sector has chosen not to be transparent and failed to even register in the stock market. This issue entails other number of inherent deficiencies in our corporate sector. And, one more deficiency is added spatially by the growing unprofessionalism and animosity within the community, that must be contained and corrected, sooner the better.</p>
<p>
	<img alt="Political Copycats, From the editor" height="296" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/from_the_editor_mar2013_political_copycats(1).jpg" width="590" /></p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '2013-06-07',
			'keywords' => 'Political Copycats, From the editor, New Business Age',
			'description' => 'Nepal’s private sector seems to have extracted every possible evils from our debasing political environment. The country’s business community is always expected to set good examples of best practices, leadership, magnanimity and vision that could be replicable even by politicians.',
			'sortorder' => '869',
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	(int) 11 => array(
		'Article' => array(
			'id' => '991',
			'article_category_id' => '31',
			'title' => 'Developing Countries Offer  A Great Deal Of Opportunity For Our Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong><span style="font-size: 12px;">Pradeep Kumar acquired his Bachelor in Technology from GB Pant University, Pantnagar. He also earned a Master in Business Administration from Bhartya Vidya Bhawan. He has 30 years of extensive experience in the field of Farm Machinery, Material Handling and Construction Equipment. He has worked with Eicher Tractors Ltd. India from 1978 until 1984, being in charge of sales and service operations. Subsequently, he has worked with Escorts Construction Equipment Ltd. from 1984 until 2001 and Escorts Ltd. from 2001 until 2005 as a General Manager for both companies. During this period, he has been responsible for various functions including business development, sales and marketing of material handling, construction equipment (like mobile cranes, loaders, vibratory road rollers etc.) and exports of tractors. He joined Mahindra and Mahindra Ltd. in August 2005.</span></strong></p>
<p>
	 </p>
<p>
	Pradeep Kumar, Vice President of Mahindra and Mahindra for international operations of Auto &amp; Farm sectors in Asia and Australia, was recently in Nepal when he talked to Sujan Dhungana of New Business Age about his company’s business in Nepal.&nbsp;</p>
<p>
	<strong style="font-size: 12px;">Excerpts:&nbsp;</strong></p>
<p>
	<strong style="font-size: 12px;">What brings you to Nepal?</strong></p>
<p>
	I have visited Nepal several times in the past because it is a strategic market for Mahindra. We are market leaders in the utility vehicle segment and tractors, with two brands, Mahindra and Swaraj. Both brands, together, account for more than 38 percent of market share in the tractor business. We are here to launch our product, the Mahindra XUV 500, a world class SUV which is now blazing a trail across India, Australia, South Africa and Italy . This is one of the most successful vehicles we have launched in India and its demand is increasing.</p>
<p>
	Moreover, this year, I am proud to announce that we have completed 22 years of successful association with our Nepal distributor, Agni, and we would like to use this occasion – the launch of our new 3S facility – as a chance to interact with our local customers and to provide them with the best service possible.</p>
<p>
	<strong>What makes Mahindra stand out in the market?</strong></p>
<p>
	Our products have been developed as per market demand. &nbsp;We have always kept the customer in focus while designing our products, which are reliable. Moreover, the fact that we have won various quality related awards is a testimony of our attention focused on this area.&nbsp;</p>
<p>
	<strong>When did your company start exporting?</strong></p>
<p>
	We have been exporting our vehicles since the 1960’s but the real growth in export volumes has been experienced within the last ten years.</p>
<p>
	<strong>How is the performence of the products you are currently supplying in Nepal?</strong></p>
<p>
	In Nepal, we supply Mahindra vehicles with annual sales crossing 2000 numbers. We also sell tractors with both the Mahindra and Swaraj badge, with annual sales of about 2000 numbers. We are currently focusing on expanding our product range in all the segments we are present in.</p>
<p>
	<strong>What prospects do you see for your business in Nepal?</strong></p>
<p>
	There is a big demand of our products and our sales are also rising here. &nbsp;The Nepal market is a vital one for us.</p>
<p>
	<strong>Why should a consumer choose your products?</strong></p>
<p>
	Aside from the fact that the Mahindra brand is associated with trust, durability and reliability, we have always prided ourselves on high service levels. We keep the customer and his or her needs in mind when designing our products and we focus on getting better technology, services and operating costs.</p>
<p>
	<strong>How do you see the South Asian market? &nbsp;</strong></p>
<p>
	The competition is very fierce in this market. South Asian and other developing countries offer a great deal of opportunity for our business. We have been present in this region for a while now and have grown and evolved along with the rapidly changing 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 a very competitive market. The size of the market has decreased but we are confident about the prospects for growth. Mahindra is focusing on customer centricity and ensuring a robust after sales network along with our dealer, Agni.</p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '2013-06-07',
			'keywords' => 'Developing countries offer a great deal of opportunity for our business, Visiting Business People, Pradeep Kumar',
			'description' => 'Pradeep Kumar, Vice President of Mahindra and Mahindra for international operations of Auto & Farm sectors in Asia and Australia, was recently in Nepal when he talked to Sujan Dhungana of New Business Age about his company’s business in Nepal.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '990',
			'article_category_id' => '73',
			'title' => 'Investment Friendly Environment Is Needed To Attract Foreign Investors',
			'sub_title' => '',
			'summary' => null,
			'content' => '<address>
	<strong style="font-size: 12px;">Alf Arne Ramslien</strong></address>
<address>
	<strong style="font-size: 12px;">Ambassador</strong></address>
<address>
	<strong style="font-size: 12px;">The Royal Norwegian Embassy, Nepal</strong></address>
<p>
	<strong>Excerpts:</strong></p>
<p>
	<strong>How has your experience in Nepal been?</strong></p>
<p>
	I have been very delighted by coming to Nepal and have felt much welcomed. Coming to Nepal has been a very special experience and I regard Nepalis second only to Norwegians personally. I have spent over 20 years in this sub continent and I really appreciate Nepali people.</p>
<p>
	<strong>Nepal’s political situation is in transition period. What are your comments on this?</strong></p>
<p>
	I am very much pleased that political parties are slowly moving ahead. I believe that we should have great respect for complexity of things. It has also been recognized that Nepal’s peace process stands to be one of the most successful peace processes ever in the world. Moreover, it has been demonstrated that not a single bullet has been fired after the peace process. The important thing is that the Maoist commanders are now being integrated in the Nepali Army. These factors show that Nepal’s politics is moving to a brighter side.</p>
<p>
	<strong>So, how do you assess Nepal’s economic situation?</strong></p>
<p>
	We have to regret the fact that Nepal’s potential for economic development has not been tapped. Nepal has tremendous potential, basically linked to the hydropower energy areas. Hydropower is, in fact, the backbone of Nepal’s future, both socially and economically. Only 0.4 percent of the total commercial resources of hydropower have been tapped properly. The irony is that over 100 years have been spent in harnessing only 0.4 percent of the total capacity.</p>
<p>
	<strong>Hydropower is one of the areas Norwegian government has been focusing on in Nepal. What is your assessment of effectiveness of such aid?</strong></p>
<p>
	It is a fact that we have kept hydropower as our top agenda here in Nepal and it is because the sector has core potential in the country. We are supporting the government here in building up the competence. The largest percent of hydropower related human resources in Nepal are educated in Norway. Similarly, we have extensive institutional cooperation between institutions related to electricity. In order to redefine and grasp the potentiality of different river sources, regarding the generation of electricity, various researches and programmes are being initiated by Norway. We also have a policy that supports the government in selling up transmission lines. For instance, we have invested in the transmission line from Upper Tamakoshi to Kathmandu, which is still an ongoing process. However, we are hoping to have a good development of investment-friendly environment &nbsp;in Nepal, so that foreign investors are attracted. Moreover, SN Power, a Norwegian company, is here in Nepal to invest in hydro and dialogue with the government is going on. They have shown keen interest in Tamakoshi-3 project.</p>
<p>
	<strong>What reasons do you find behind Nepal’s inability to meet its potentiality in energy?</strong></p>
<p>
	The reason to be highlighted is the lack of proper investment &nbsp;environment for the private sector in the past. There has been no direct investment from government itself to invest a huge amount in the energy sector. However, it is a good thing that now the investment in energy sector has been made open for the private sector. The next thing required is a reform in the responsible institutions. NEA, being a largest body, should be reformed and it has to be effective as the responsible authority.</p>
<p>
	<strong>What is the annual investment of Norway in Nepal?</strong></p>
<p>
	&nbsp;Investors are the private companies like SN Power. We are here to facilitate the people through grant basis. We are here to help stimulating processes and projects in coordination with the government. The budget spent is around 20 million US dollar. However, this is not the investment.</p>
<p>
	<strong>What are the other concerned areas of Norway in Nepal, besides energy?</strong></p>
<p>
	We pay high attention to the education sector of Nepal. We conduct various educational reform programmes. I would also personally give tribute to the educational success that Nepal has achieved. The whole world has recognized the achievement. &nbsp;According to the figure, almost 95 percent of the children are now attending school in Nepal. &nbsp;Beside this, good governance is also one of our core areas.</p>',
			'published' => true,
			'created' => '2013-05-22',
			'modified' => '2013-05-22',
			'keywords' => 'Investment Friendly Environment Is Needed To Attract Foreign Investors',
			'description' => 'I have been very delighted by coming to Nepal and have felt much welcomed. Coming to Nepal has been a very special experience and I regard Nepalis second only to Norwegians personally. I have spent over 20 years in this sub continent and I really appreciate Nepali people.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '989',
			'article_category_id' => '34',
			'title' => 'Norway: Nepal’s Reliable Development Partner',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<strong>By Sujan Dhungana and Sushila Budhathoki</strong></p>
<p>
	Nepal established diplomatic relations with Norway, a constitutional monarchy in Northern Europe on January 26, 1973. Norway, opened a residential embassy in Kathmandu in January 2000. &nbsp;The Nepali Embassy in Copenhagen, Denmark, oversees the diplomatic activities with Norway as well because Nepal does not have a residential embassy there.</p>
<p>
	With a population of five million inhabitants, Norway is one of the five countries comprising the Nordic Region while it remains outside the European Union. An increasing demand for a wide range of quality imported goods and services of all kinds make it the right country for exportable products and quality services. Norway, a modern and highly developed country, has a strong and stable economy. It has achieved enviable progress in human development. According to the UNDP’s Report in 2010, Norway heads the group of 42 very high human development countries being world’s first country in terms of human development. Norway also has the second highest GNP per capita in the world (USD 55,600) in terms of purchasing power parity.&nbsp;</p>
<p>
	Norway’s economy is essentially based on the exploitation of its natural resources, mainly oil, gas, hydroelectric power, forests and minerals. &nbsp;Oil production dominates the economy, accounting for nearly a quarter of the GNP. Norway is also a major producer and exporter of natural gas. &nbsp;The service sector in Norway is also a highly developed one. Norway’s agriculture contributes to about 2% of the GNP and fishery is a major activity, making Norway the biggest exporter of fish in the world.&nbsp;</p>
<p>
	<strong>Visit exchanges</strong></p>
<p>
	The number of visits at different levels from both sides depicts the increasing interests between Norway and Nepal and has helped in strengthening the relationship between the two countries. Prime Minister Jens Stoltenberg paid a one-day visit to Nepal on February 8, 2008. Foreign Minister, &nbsp;Knut Vollebaek, also visited Nepal in January 2000. Similarly, in June 2012, Minister for International Development, Heikki Holmas, visited the country and the Minister for Environment and Development, Erik Solheim, paid a visit &nbsp;in January 2012. Earlier, he had visited Nepal twice in different ministerial capacities. &nbsp;</p>
<p>
	The then Prime Minister, Pushpa Kamal Dahal, paid an official visit to Norway in March 2009 and Upendra Yadav, Minister for Foreign Affairs, participated in the International Conference entitled “Melting Ice – Regional Dramas, Global Wake-up Call” in April in the same year. Earlier, the then Minister for Foreign Affairs, Chakra Prasad Bastola, &nbsp;also travelled to Norway in September 2000 responding to an invitation of &nbsp;the Norwegian Foreign Minister.&nbsp;</p>
<p>
	<strong>Norway’s support</strong></p>
<p>
	Norway has been voluntarily supporting different projects in Nepal through different NGO’s and bilateral organization since 1960s. The country has regularly provided aid to different sectors in Nepal and has supported different development projects. Some of the sectors covered by Norwegian aid are climate, environment and food production, conflict prevention and resolution and peace and security. There are other sectors also subsidized by Norway such as education, energy generation and supply, government and civil society, among others. The aid from Norway to Nepal is consistent since 2009 (See graph).&nbsp;</p>
<p>
	The Government of Norway has provided NOK 30.6 million for Nepal Peace Trust Fund. This country is also taking the initiative on the third country resettlement of Bhutanese refugees. According to the Ministry of Foreign Affairs Nepal, Norwegian firms have invested Rs. 1135 million in 12 various projects in Nepal, which have generated 726 employment opportunities until July 2012. Norway also supports Nepal through UN agencies, good governance and private sector development, focused on hydropower and electrification. It is also supporting Rural Renewable Energy and Development through Energy Sector Assistance Program (ESAP), which has provided significant results in terms of improving cooking stoves and rural electrification (solar home systems and micro hydro). Regarding the academic field, Norway &nbsp; offers NORAD (Norwegian Agency for Development Cooperation) annual fellowships to Nepali students in different fields of studies.&nbsp;</p>
<p>
	<strong><img alt="Aid from the Royal Norwegian Embassy" height="623" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(3).jpg" width="517" /><br />
	</strong></p>
<p>
	<strong>Cooperation</strong></p>
<p>
	The cooperation between the two governments started with the signing of a memorandum of understanding (MoU) in 1996. &nbsp;According to Royal Norwegian Embassy, the cooperation is based on shared dedication to achieve the Millennium Development Goals (MDGs). Norway has been prioritizing key areas of cooperation in four sectors, namely peace building, democracy and inclusive governance, education and energy. There are cross- cutting issues like peace and human rights, environment, gender and equality and anti-corruption for all projects .&nbsp;</p>
<p>
	Norway has been a key partner to Nepal in exploiting hydropower resources. The country has a number of &nbsp;cooperation in the hydro power sector in Nepal. Some of them are Himal Hydro and General Construction Company, Butwal Power Company, Himal Power Ltd, National Hydro Power Co. and Nepal Hydro and Electric Pvt. Ltd. &nbsp;According to the Royal Norwegian Embassy, Norway is currently focusing in three thematic areas, namely accelerated hydro power development, rural renewable energy and development and technical energy research in energy sector. &nbsp;</p>
<p>
	Norway is also interested in supporting Nepal when conducting a feasibility study of different large scale projects. The Royal Norwegian Embassy in Nepal is currently working on developing new plans to support Nepal regarding energy sector; the Norwegian mission in Nepal has posted on its website. &nbsp;Moreover, with the 60 per cent financial contribution from NORAD, Turbine Testing Lab of Kathmandu University is running a three- year project which started in August 2010. &nbsp;According to Kathmandu University, the project would give a platform and foundation for associated professional parties to come together and create a turbine manufacturer in Nepal.&nbsp;</p>
<p>
	<img alt="Trade with Norway" height="221" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(1)(1).jpg" width="446" /></p>
<p>
	<img alt="Tourist arrival in Nepal from Norway" height="248" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal.jpg" style="float: left; margin: 0px 10px 0px 0px;" width="220" /></p>
<p>
	<strong>Trade and Tourism</strong></p>
<p>
	The agreement on avoidance of double taxation with Norway, signed in 1996, has been regarded as one of the reasons behind the growing trade between both countries. &nbsp;The trade figure of TEPC (Trade and Export Promotion Center) shows the growing trade both in imports and exports &nbsp;between the two countries. &nbsp;Nepal exported goods worth Rs 41.37 billion in 2009. In 2012 it was Rs 52 billion. Similarly, it imported goods worth Rs 22.52 billion and Rs 96 billion in the year 2009 and 2012 respectively. Thus Nepal had a trade surplus in 2009 and 2010, but in the recent years Nepal has a trade deficit.&nbsp;</p>
<p>
	Norway is the first country to register Nepali Pashmina products. Nepal mainly exports products such as paperboard, articles of paper pulp, coffee, tea, essential oils, cosmetics or toilet preparations, ceramic products and carpets among others. The imports from Norway are comprised of products like fish and crustaceans, aluminum, rubber, boilers, machinery or mechanical appliances. The flow of Norwegian tourists visiting Nepal is also rising. According to the data provided by the Ministry of Foreign Affairs, Norwegians are among major tourists visiting Nepal.&nbsp;</p>
<p>
	<img alt="Facts and figures about Norway" height="420" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/bilateral_relationship_may2013_norway_nepal(2).jpg" width="446" /></p>',
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			'keywords' => 'Norway: Nepal’s Reliable Development Partner, Bilateral Relationship, New Business Age',
			'description' => 'Norway has been supporting different projects in Nepal through different NGOs and bilateral organization since 1960s.',
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			'id' => '987',
			'article_category_id' => '37',
			'title' => 'Economic Policy’s Narrative Imperative',
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			'content' => '<p>
	<strong>By Kemal Derviş</strong></p>
<p>
	<span style="font-size: 12px;">The best advice I received when taking up policymaking responsibilities in Turkey more than a decade ago was to take “a lot of time and care to develop and communicate the ‘narrative’ to support the policy program that you want to succeed.” The more that economic policy is subject to public debate – that is, the more democracy there is – the more important such policy narratives are.</span></p>
<p>
	The crisis faced by the European Union and the eurozone is a telling example of the need for a narrative that explains public policy and generates political support for it. A successful narrative can be neither too complicated nor simplistic. It must capture the imagination, address the public’s anxieties, and generate realistic hope. Voters often sense cheap populism.</p>
<p>
	European Central Bank President Mario Draghi provided such a narrative to the financial markets last July. He said that the ECB would do everything necessary to prevent the disintegration of the euro, adding simply: “Believe me, it will be enough.”</p>
<p>
	With that sentence, Draghi eliminated the perceived re-denomination tail risk that was highest in the case of Greece, but that was driving up borrowing costs in Spain, Italy, and Portugal as well. It was not a populist message, because the ECB does indeed have the firepower to buy enough sovereign bonds on the secondary market to put a ceiling on interest rates, at least for many months.</p>
<p>
	Central bankers, more generally, are typically able to provide short- or medium-term narratives to financial markets. US Federal Reserve Board Chairman Ben Bernanke provided his own by pledging that US short-term interest rates would remain very low, and the Bank of Japan’s new chairman, Haruhiko Kuroda, has just provided another by saying that he will double the money supply so that inflation reaches 2%.</p>
<p>
	While central bankers can provide such narratives to financial markets, it is political leaders who must provide the overall socioeconomic messages that encourage long-term real investment, electoral support for reform, and hope for the future. Central bank alchemy, to borrow a term from the US journalist Neil Irwin’s new book, has its limits.</p>
<p>
	Europe, in particular, needs a narrative of long-term hope that will trigger a real recovery. France is coming closer to the danger zone, and even Germany’s annual GDP growth is falling well below 1% per year. In the meantime, the easing of sovereign interest-rate spreads provides little comfort to the growing army of unemployed in southern Europe, where youth unemployment has reached dramatic heights – close to 60% in Greece and Spain, and almost 40% in Italy.</p>
<p>
	The narrative should address three essential questions. How can the European model of strong social solidarity and security be reformed, but endure? How can economic growth be revived and sustained throughout the EU? And how can Europe’s institutions function with enhanced legitimacy to accommodate countries that share the euro and others that retain their national currencies?</p>
<p>
	For starters, a revolution is required in the organization of work, learning, and leisure. Social solidarity, essential to European identity, can and must include longer work lives, but also more work-sharing, adult learning, and shorter average work weeks (particularly close to retirement).&nbsp;</p>
<p>
	Such flexibility requires the consent of all: employees must adjust to changing requirements; employers must re-organize their enterprises to allow more work-sharing, work from home, and learning intervals; and governments must overhaul taxes, income support, and regulation to promote a “flex-solidarity revolution” that encourages personal choice and responsibility, while remaining committed to social cohesion. This can lead to a better future for all, with citizens gaining better access to adult education, having more free time to pursue personal interests, and remaining productive and occupationally engaged far longer into their healthy lives.</p>
<p>
	Europe does not need Asia’s rates of economic growth. It can secure decent jobs and prosperity, with a sustained annual growth rate of around 2%. To achieve that, German voters should be told not that their country’s resources will forever flow to Spain, but that their wages can rise at twice the rate of the recent past without risking inflation or a current-account deficit, because Germany has the world’s largest external surplus.</p>
<p>
	Service-sector industries throughout the EU must be opened up. The countries with stronger fiscal positions should take the lead in a major pan-European skill-upgrading program. The number of pan-European scholarships should be doubled. School programs everywhere should aim to educate trilingual citizens.</p>
<p>
	Moreover, a full European banking union with shared resources for resolution should be created without further delay. The European Investment Bank, which received a significant capital increase in 2012, should add a large investment-support program for medium-size enterprises to its current operations, with a subsidy financed from the European budget to encourage first-time job takers for a limited period. Jobs and training for young people must be the centerpiece for the new growth pact, and projects must move ahead in “crisis mode,” rather than according to business as usual.</p>
<p>
	Finally, while monetary union obviously requires greater sharing of sovereignty, there should also be a “greater Europe” that includes the United Kingdom and others. This implies two-tier institutions that can accommodate both types of countries: the “euro-ins” and those that prefer to preserve their monetary sovereignty in a larger Europe built around a vibrant single market and common democratic values.</p>
<p>
	These interconnected visions can and must be realized if Europe is to thrive again. Together, they form a compelling narrative that European leaders must begin to articulate.</p>
<p>
	<span style="font-size:10px;">Kemal Derviş, former Minister of Economic Affairs of Turkey and former Administrator for the United Nations Development Program (UNDP), is Vice-President of the Brookings Institution.</span></p>
<p>
	<span style="font-size:10px;">Copyright: Project Syndicate, 2013.</span></p>',
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			'keywords' => 'Economic Policy’s Narrative Imperative, Economy and Policy, New Business Age',
			'description' => 'For starters, a revolution is required in the organization of work, learning, and leisure. Social solidarity, essential to European identity, can and must include longer work lives, but also more work-sharing, adult learning, and shorter average work weeks.',
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