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Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '809', 'article_category_id' => '42', 'title' => 'Above Three Years’ High', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size:16px;">Above Three Years’ High</span></strong></p> <p> <span style="color:#72d1fe;"><span style="font-size: 12px;"><b>(Review for 25 November to 24 December, 2012)</b></span></span></p> <p> <span style="font-size:12px;"><strong>By Bikram Chitrakar</strong></span></p> <p style="text-align: justify;"> <img align="right" alt="" height="396" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/sectorwise_distribution.jpg" style="margin:0 0 0 10px;" width="321" />December 2012 saw Nepal’s stock market reach nearly three years’ high and the bull run is continuing also in January 2013. The benchmark Nepse index stretched 28.31 points or 5.39 percent during the review period between November 25 and December 24 to close at the session’s high of 525.67 while the session’s low was on December 3 with 481.94. The previous high was at 524.19 recorded on 18 January, 2010. </p> <p style="text-align: justify;"> Fall in the banking interest rate and the liberal attitude of banks in extending loans for the purchase of shares from the secondary market have contributed to pull the investors toward the secondary market. The significant growth in the turnover shows the growth in the number of investors in the market.</p> <p style="text-align: justify;"> One important development of the month was New Fund Offer (NFO) by Siddhartha Capital. The scheme, named Siddhartha Investment Growth Scheme-I, is worth Rs 400 million with 5 years maturity. Another similar development was the issuance of IPO by Civil Bank; the bank floated eight million units of general shares. Both these offers in the primary market were lapped up by the investors. Still the secondary market continued its upward journey providing further proof to both of the claims of the analysts that the market is getting new investors and that the existing investors have regained their optimism. </p> <p style="text-align: justify;"> The recent acceleration has been underpinned by the same fundamentals that govern the sentiments of Nepali investors. Timely settlement of the present political chaos will certainly drive the market higher irrespective of the resistance that can be expected at this level. </p> <p style="text-align: justify;"> <strong>Performance by Sector</strong></p> <p style="text-align: justify;"> The manufacturing sector, led by Unilever Nepal, posted a whopping gain of 118.98 points or 14.03 per cent to reach 847.94. The commercial bank sector that holds a very high share in the market added 50.36 points or 9.82 per cent to settle at 513.05. Similarly, the development bank sector accelerated 11.40 points to 263.29 while the hydropower sector surged 3.12 points or 0.30 per cent to rest at 1050.88. However, the hotels sector plummeted 60.73 points or 10.24 per cent to 593.01. Likewise, the insurance sector lost 16.96 points and the ‘others’ sector 12.92 points to settle at 739.81 and 774.22, respectively. The finance sector descended 8.04 points or 3.14 per cent to settle at 255.87.</p> <p style="text-align: justify;"> The sensitive index that measures the performance of 133 blue chip scrip at the secondary market moved 9.42 points or 6.81 per cent up to 138.39 while the float index calculated on the basis of real transaction escalated 0.59 points or 1.65 per cent to 35.84. A total turnover of Rs 2,391,327,495 was realized during the review period through the trading of 6,746,527 units of share traded via 29,146 transactions.</p> <p style="text-align: justify;"> The accompanying figure depicts the sector-wise distribution based on the total volume of trade. As usual, the commercial bank sector grasped 77.65 per cent of the total volume of trade. The hydropower sector occupied 8.61 per cent, insurance sector 4.27 per cent and the remaining sectors made up for the rest.</p> <p style="text-align: justify;"> Technically, the Simple Moving Average (SMA) in both long term and short term is dominated by the Nepse. Both, 200 days SMA and 30 days SMA are outcast with straight ascending of the index, while testing of resistance level is intact at this level.</p> <p style="text-align: justify;"> <img align="" alt="" height="375" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/market_trend.jpg" style="margin:5px;" width="387" /><img align="" alt="" height="378" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/movement_in_indices.jpg" style="margin:5px;" width="362" /></p> <p style="text-align: justify;"> <strong>Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.</strong></p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Fall in the banking interest rate and the liberal attitude of banks in extending loans for the purchase of shares from the secondary market have contributed to pull the investors toward the secondary market.', 'sortorder' => '697', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '812', 'article_category_id' => '41', 'title' => 'Secured Business Of Nepali Paper', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Sushila Budhathoki</strong></p> <p style="text-align: justify;"> <img align="left" alt="" height="391" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/lokta_product(1).jpg" style="margin:0 10px 0 0;" width="200" />The Nepali paper industry is one such industry in the country that has withstood the ongoing political turbulence to run in profit. This is also reflected in the fact that handmade Nepali paper products produced by this industry contribute around 10 per cent to Nepal’s total export and this contribution is growing by 7 to 8 per cent annually. Bikash Ratna Dhakhwa, President of the Federation of Handicraft Association of Nepal (FHAN) is quite happy with the growth of the Nepali paper business even during such harsh times. He says, “Had there been a good environment for industries, politically as well as economically, this sector would have seen a massive growth.” </p> <p style="text-align: justify;"> The ever-growing market demand of the Nepali paper or Lokta Kagaj, as it is locally known, is the main reason behind the steady performance of the Nepali paper industry. Lokta has been successful in attracting many craft lovers nationally and internationally. Products made of Lokta are a major attraction at every handicraft trade fair. Dhakhwa says, “We have been organizing numerous handicraft fairs to promote the business of these products. We are now organizing the 10th handicraft fair which would definitely be fruitful to the Nepali paper business among other handicraft businesses.” According to FHAN, the export of paper products increased by 32 per cent to Rs 410 million in FY 2011/12 from Rs 310 million in 2010/11. </p> <p style="text-align: justify;"> Once replaced by the massive import of cheap papers from China, the Lokta has regained its lost sheen because of its quality and uniqueness. Having seen the prospects, industrialist like Bishnu Das Dangol, former Managing Director of Bhaktapur Craft Paper Ltd- the first business enterprise to produce and export Nepali handmade paper - are being lured into the business again. Dangol has joined the company back after a long gap as its Executive Director. “I have entered this business again because it involves people from the grass-roots to those at the high level. The paper industry can become the major industry to eradicate poverty in our country,” he says. </p> <p style="text-align: justify;"> According to Kiran Kumar Dangol, President of HANDPASS (Nepal Handmade Paper Association) there are around 300 companies involved in the Lokta business and together they have employed around 50,000 people. He says, “Lokta is a big business today. We export Lokta products worth around Rs 40 to 50 million yearly. Europe accounts for 60 per cent of our export while the USA for around the remaining 40 per cent.” </p> <p style="text-align: justify;"> Benu Das Shrestha who is originally from Sindupalchok district has been making and selling the Lokta paper for the past two decades and is inspiration to many. He says, “Many of my friends have followed in my footsteps. Lokta is a low-cost business that we can afford to run and can start it with the help of just around 10 people.” It was more than 20 years ago that he started his Lokta factory, Jugal Nepali Haate Kagaj Udhyog, at Jalbire, his birthplace in Sindhupalchok. Today, Shrestha earns around Rs 60,000 a month and is also hopeful about expanding his business in the coming years.</p> <p style="text-align: justify;"> For industrialists like Satyalal Shrestha, who has spent 25 years in the Lokta business and is the owner of Bagmati Paper Company, it is a business of creativity. In the beginning, he used to produce the plain Lokta paper. But he soon found new ways to diversify his business and today he produces several creative paper products. “We design various items according to the needs of the customers and we often consult with them before making new products,” he shares. </p> <p style="text-align: justify;"> Shrestha produces a range of products from wall hangings, photo-frames, albums, mirrors, and paper vases to the extra-ordinarily made paper jewelries. His creativity is seen in the marvelous set of paper tables which are perfect even for dining. However, he has no showroom in Nepal and anyone wanting to buy his products has to visit his factory and give an order in advance. The average annual turnover of his company is around Rs. 20 million.</p> <p style="text-align: justify;"> The Lokta paper has a long history in Nepali paper usage. Although Lokta is being produced in Nepal from as early as the twelfth century, it got international recognition when the UNICEF started to buy and use it for important documents. Known for its long lasting quality, the handmade Lokta has been traditionally used for official purpose for ages. But today it is used for many purposes. The Nepali paper used for the legal and government documents is produced with a Japanese technology in A4 size. This paper is made from not only the bark of the Lokta tree but also other plants like Argeli (Edgeworthia gardeneri), babiyo (Eulaliopsis binata), hay, leaf of cardamoms etc. </p> <p style="text-align: justify;"> Many farmers have contributed to run the Lokta business and most of them are working at the community level enterprises in association with different groups of collectors. They produce the Lokta paper according to the demand of the buyers from different paper industries. The paper can be used directly after buying from them. However, processes like shorting, coloring, processing, etc at the paper factories further enhances the quality of the Lokta paper. Dangol says, “Unlike other products, the Lokta paper is 100 per cent handmade. All the raw materials are produced locally.” </p> <p style="text-align: justify;"> Lokta products are of two categories- pure and mixed ones. In the market, one sheet of pure Lokta paper weighing five gram costs around Rs 6 while the other paper with same weight made with mixed products cost around Rs 5. Similarly, a Lokta sheet weighing 20 gms costs Rs 18 while the mixed paper in the same category costs Rs 16. Lokta products are available as sheets, note-books, photo albums and picture frames, writing sets, and gift- boxes, among other products such as carry bags, calendars, file-folders, lampshades, greeting cards, wall papers, photo frames, art paper, picture albums, gift sets, postcards, paper jewelry, jewelry boxes, telephone diaries, etc. The price for these products differs with the size, weight and quality.</p> <p style="text-align: justify;"> The Lokta plant is found in 56 districts of the country. According to the FNCCI’s document ‘Business Promotion Strategy (2012 – 2016)’, Lokta is listed among the 20 species of Non Timber Forest Products (NTFPs) including some exotic species like Mentha, chamomile, lemongrass, Dalchini, etc. The Western Mid Hilly regions and the hilly district of Gandaki and Dhaulagiri Zones - Baglung, Myagdi, Parbat, Kaski, Lamjung, Syangja, and Tanahu - are the main locations of the Lokta plant. Usually, the Lokta plant is harvested when it is mature enough. </p> <p style="text-align: justify;"> <strong>Brand Nepal </strong></p> <p style="text-align: justify;"> Lokta paper has been identified among the 19 major exportable goods of the country. It has become a brand name in itself and is known as a quality paper all over the world. Today, Lokta paper’s international market is far bigger than its local market. According to the traders, Lokta products have a huge market in countries like the USA, Canada and many European countries like Germany, the United Kingdom, France, Italy, Denmark and lately, Japan in Asia.“Due to the unique feature and quality, there is a high demand for the Nepali paper in the international market,” Shares Bisnu Das Dangol. </p> <p style="text-align: justify;"> With its attractive texture, durability, strength and resistance to insects, Lokta products are popular even in the digital age and this is an amazing truth for the people involved in this business. Unlike the previous Lokta papers, the Lokta papers today are well-finished products available in a range of colors, textures, patterns and prints. They can be customized for different logos, graphics, colors, designs and paper weight. The success of Nepali industrialists in developing a variety of Lokta products has been a plus point for this business. Satyalal says, “The customers are demanding more and more varieties of Lokta products.”</p> <p style="text-align: justify;"> Bisnu Das Shares, “If we can market our products aggressively, all national and international organizations will start using the Nepali paper for their important documents in no time.” The paper is among the costly papers available in the international market. The demand for Lokta-made gift items like cards for different occasions such as weddings, birthdays etc is high in the Nepali market while Lokta-made notebooks, boxes, wrapping- papers, different kinds of printed papers are sought after internationally. Recently, Lokta has found popularity in the making of fashion accessories as well. </p> <p style="text-align: justify;"> <strong>Future in paper</strong></p> <p style="text-align: justify;"> <img align="right" alt="" height="339" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/lokta_product(2).jpg" style="margin:0 0 0 10px;" width="454" />Due to the growing demand, the need for conserving and promoting Lokta and producing high quality papers has emerged at the same time. However, the lack of sustainable harvesting and cultivation process has put the raw materials used for producing the Lokta paper at the risk of extinction. Saraswati Rai, Operation Manager at Himalayan Bio-Trade (HBTL) - a community-based enterprise - is concerned about the negligence in the preservation of the Lokta plant. According to her, it would be difficult to keep up the quality of the Lokta paper in the long run in the absence of concerted efforts to preserve the Lokta plant. “The Lokta products are not being produced in a sustainable way.” The Lokta plant has a unique ability to regenerate and reach maturity within four to five years after the first cutting. But it demands skilled manpower for its harvesting. This ability should also make the preservation of the Lokta plant comparatively easy. Lokta can generate much more employment at the grassroots even if the farmers take Lokta growing as a seasonal business. Rai says, “If we have trained collectors for harvesting Lokta and if we can maintain the quality, the business has a very bright future ahead.” HBTL buys papers made from Lokta or argeli from the farmers. Though Rai shares that the company’s overall production has declined in comparison to the previous years, she is confident of the everlasting market of the Nepali Paper. HBTL’s average annual turnover is around Rs 30 million of which its paper business constitutes Rs 20 million. </p> <p style="text-align: justify;"> If given due importance, the Lokta paper stands fairly high chances getting much bigger and better national and international markets. “International buyers are looking for unique and valuable products like the Nepali paper which is basically exported as handicraft products,” shares Bisnu Das. </p> <p style="text-align: justify;"> According to the traders, though the existing Lokta products are good enough and doing very well, there is an urgent need to develop even better and advanced products. Many organizations are facilitating the designers who could design Lokta products to meet the international demand. They are also providing training to the new generation people who are attracted to paper production, designing and marketing. Some of the organizations and Lokta collectors have even started conserving the Lokta plants. The traders involved in the Lokta business have started getting cash incentives, four and a half per cent re-financing and also export incentives. So, if you are planning to venture into a long-term business in Nepal that has withstood the tests of time, then the Lokta business could be the right place to invest in. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-23', 'keywords' => '', 'description' => 'The ever-growing market demand of the Nepali paper or Lokta Kagaj, as it is locally known, is the main reason behind the steady performance of the Nepali paper industry.', 'sortorder' => '696', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '808', 'article_category_id' => '39', 'title' => 'Small Is Mega For Mega Bank', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> Big things come in small packages for Mega Bank Nepal Limited. When the bank was established around two years back, its vision to be a bank for every Nepali grabbed the attention. Driven by the slogan ‘Halo to Hydro’ (Plough to Power), the bank started its journey as a commercial bank with 1219 promoters from 63 of the country’s 75 districts. </p> <p style="text-align: justify;"> Financial inclusion is one of the major objectives and vision of the bank which strives to become a truly people’s bank. This objective also provides the bank with a route to profitability. It is such simple and small visions and objectives which make the guiding policy of Mega Bank. </p> <p style="text-align: justify;"> <img align="left" alt="" height="188" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/anilShah.jpg" style="text-align: start; margin: 20px 10px 10px 0px;" width="149" /></p> <div> </div> <div> <h3> <strong>‘We will make a path through the jungle, not through a six lane highway and show others that there is a business there as well’</strong></h3> <p> <strong><span style="font-size: 14px;"><br /> </span></strong></p> <address> <strong>Anil Shah</strong></address> <address> <strong>Chief Executive Officer </strong></address> <address> <strong>Mega Bank Nepal Limited </strong></address> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> <img align="left" alt="" height="203" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/mega_counter.jpg" style="text-align: justify; margin: 15px 10px 10px 0px;" width="350" /></div> <p style="text-align: justify;"> According to Anil Shah, Chief Executive Officer of Mega Bank, the Small and medium enterprises (SMEs) segment is a priority for the bank. “The SME segment is one of the good opportunities for the bank. It is in fact the best investment sector for any bank. Mega Bank has continuously tried to reach out to small enterprises and individual clients,” he says. Similarly, micro credit and rural lending, too, are at the top of the bank’s priority list. “We want to invest 40 per cent out of our total lending of Rs 13 billion in the SMEs,” Shah adds. </p> <p style="text-align: justify;"> Shah believes that SMEs are the backbone of Nepal’s economy as almost every village and every street of every town has small shops. He thinks that these shops need to be supported by the banking system. According to him, Mega Bank dreams to create numerous Bhatbhatenis – an epitome of SME success - across the country. That’s why the bank has focused on SMEs right from its commencement. “We have a branch which has lent micro credits to around 20 thousand sugarcane farmers. They need fertilizers. So, our corporate customers import fertilizers and sell it to these farmers. The farmers are able to pay them by taking micro loans. So, we have a value chain with SMEs in the middle,” Shah explains.</p> <p style="text-align: justify;"> Although it is mandatory for a commercial bank to issue initial public offerings (IPO), Mega Bank perceives this provision as a means to be more financially inclusive. Shah opines that it is always better when wealth is distributed among people rather than being concentrated among a handful of corporate promoters or big joint ventures outside the country. “Our vision is to issue IPO to as many Nepalis as possible and make them our shareholders. That is part of our aim to spread wealth,” he shares. </p> <p style="text-align: justify;"> The bank is planning to issue its IPO worth Rs 700 million in the third quarter of the current fiscal year. This will increase the bank’s paid-up capital to Rs 2.3 billion from Rs 1.63 billion at present. Around 70 per cent of the bank’s stakes are owned by the promoters while the remaining 30 per cent with the general public. Interestingly, Mega Bank’s promoters, too, are the general public, unlike in any other commercial bank where the ownership remains with a handful of corporate houses or joint ventures. According to Shah, the bank has 1291 promoters from 63 districts and they have invested from Rs 1 million to Rs 10 million in Mega Bank. </p> <p style="text-align: justify;"> “The wealth that the bank creates goes to Nepali families spread across the country,” says Shah. That was something that inspired Shah to be a part of the bank since its initial days. He believes that Nepal should have a banking model that is original – not copied from north, south, east or west. “It has to be intrinsically Nepali. Let the world copy it,” he says, adding that the ‘Mega Model’ is essentially a start towards that journey. </p> <p style="text-align: justify;"> The Mega Model is a different attempt of the bank to serve the entire economic pyramid. This pyramid, according to Shah, has corporate and high class banking clients on the top and SMEs in the middle and general customers – rural farmers, SME owners and other micro credit seekers - at the base. The bank has a separate unit named ‘Mega Micro’ that reaches out to the villages to serve the ‘Halo’ level. He says, “This is neither a Bangladeshi model nor a private bank model. When we make this successful, this is the model which is going to be followed regionally as well as globally.”</p> <p> <img align="right" alt="" height="211" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/mega_interior.jpg" style="margin: 0px 0px 0px 10px;" width="350" /></p> <p style="text-align: justify;"> Within the first two years its commencement, the bank has earned over 87,000 customers who have deposited more than Rs 11 billion there. The bank’s total investment is around Rs 10.5 billion. Shah is quite content with the bank’s achievements in its initial two years.“In these two years, Mega Bank has reached where we wanted it to. However, the foundation is still being laid and there is a long way to go,” he says, adding that it would take three to five more years before the bank has a well-built foundation. “In 100 to 150 years from now, people will be happy to be a part of this bank. Banking is not a short-term industry. The decisions that I as a CEO or the board takes now must add long-term values to the bank. Decisions should be taken with the at least the next 10 or 20 years in mind,” he explains.</p> <p style="text-align: justify;"> One of the greatest achievements of the bank in its first two years is the creation of a well known brand name. Shah who has helped create larger-than-life brand images in the past has proved his mettle at Mega Bank as well. “People should be forthcoming to say that they want to be part of this bank either - be it as a customer, staff or a shareholder,” says he, “An excellent brand image can do that and that is our destination. Everything we have done in the first two years is a step towards that destination.” </p> <p style="text-align: justify;"> Shah gives credit to the management team which the bank calls the ‘Mega Team’ and the promoters’ vision for everything the bank has achieved till date. He says that the bank has got the team that believes in the ‘Mega Model’. “I don’t claim that we have the best banking team in the country, but for our vision, there isn’t a better team,” boasts Shah. The Mega Team has 429 employees. The bank’s working environment is guided by the philosophy of ‘professionalism with a personal touch’. He believes that the working environment has to be comfortable and friendly along with the respect for organisational hierarchy. “Our work culture is finally translated into the customer services. We offer the best professional service with a personal touch,” claims Shah.</p> <p style="text-align: justify;"> The bank’s management mantra is people, people and people. “It is all about leading people and finding out their strengths. Know what their strengths are and give them roles accordingly,” says Shah. He adds that the bank always gives priority to qualified people. Another management mantra is time management. The bank keeps its employees always prepared to accept any challenge or changes that may come out of the blue.</p> <p style="text-align: justify;"> Any organisation is constantly surrounded by numerous seen and unseen challenges and forces. Shah states, “Mega Bank and Mega Team do not use the current political environment as an excuse.” That is one of the reasons why the bank brought in the concept of branchless banking in a country like Nepal where it’s not possible for any bank to have a branch in every village. However Mega Bank wants to have its services available in every village through branchless banking. He explains, “A person working in Doha can send money to his/her family in Dolpa with just a cost of around Rs 300 in less than three minutes. Why can’t a bank situated in Kathmandu provide its financial services to the people in remote Nepal?” </p> <p style="text-align: justify;"> The bank began its branchless services last year and is now planning to expand them to across the country this year. As of now, the bank has 28 branches and offers branchless banking from 16 points and is planning to add 30 more such pints this year. “We want to have hundreds of digital branches in the future because having physical presence in the urban areas alone won’t help the vision of Halo to Hydro.”</p> <p style="text-align: justify;"> Rural banking is one of the top agenda of Mega Bank. At a time when a majority of commercial banks are based in the urban areas, Mega envisioned being a partner in rural banking. “We will make a path through the jungle, not through a six lane highway and show others that there is a business there as well. Once we do that, other financial institutions will follow us and together we will build a six-lane highway,” says Shah. </p> <p style="text-align: justify;"> <strong><strong><span style="font-size:14px;">SWOT Analysis</span></strong></strong></p> <p style="text-align: justify;"> <strong><strong>Strengths: </strong></strong></p> <ul> <li style="text-align: justify;"> <strong>1291 Promoters</strong></li> <li style="text-align: justify;"> <strong>Staff </strong></li> <li style="text-align: justify;"> <strong>The vision of Halo to Hydro </strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Weakness:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>Young team that is relatively new to banking</strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Opportunities:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>Rural areas</strong></li> <li style="text-align: justify;"> <strong>SMEs</strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Threats:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>External environment</strong></li> <li style="text-align: justify;"> <strong>Political environment</strong></li> </ul>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Financial inclusion is one of the major objectives and vision of the bank which strives to become a truly people’s bank. This objective also provides the bank with a route to profitability.', 'sortorder' => '695', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '807', 'article_category_id' => '60', 'title' => 'Etihad Airways Flew 10.29 Million Passengers In 2012', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> <img alt="" height="108" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/etihadAirways.jpg" style="margin:0 0 10px 0;" width="233" /></p> <p style="text-align: justify;"> Etihad Airways has surpassed its target of carrying 10 million passengers in 2012. The airline carried a total of 10.29 million passengers in the year - a 22 per cent increase from 8.41 million passengers in 2011. The airline has a global network that covers 87 of its own passenger and cargo destinations, and 245 code-share destinations.</p> <p style="text-align: justify;"> According to the official statement of the airline, passenger growth for Etihad Airways is mirrored by its equity partners. By the end of 2012, airberlin carried around 33.4 million passengers, Virgin Australia 19.5 million passengers, Aer Lingus nearly 11 million passengers, and Air Seychelles 241,000 passengers.Etihad Airways and its equity partners collectively carried more than 74 million passengers in 2012, with cooperation between the five airlines greatly contributing to passenger growth.</p> <p style="text-align: justify;"> James Hogan, Etihad Airways’ President and Chief Executive Officer, said, “Etihad Airways has achieved significant expansion in 2012 and therefore it’s very satisfying to pass our target of flying more than 10 million passengers during a year for the first time.Etihad Airways’ busiest route was Bangkok with the airline carrying nearly 691,000 passengers to the Thai capital during the year, a 38 per cent increase on 2011.This was closely followed by Manila, Heathrow and Jeddah. Sydney, Paris, Frankfurt, Manchester, Doha and Dublin complete the list of the 10 most popular routes of the airline.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Etihad Airways has surpassed its target of carrying 10 million passengers in 2012. The airline carried a total of 10.29 million passengers in the year - a 22 per cent increase from 8.41 million passengers in 2011. The airline has a global network that covers 87 of its own passenger and cargo destinations, and 245 code-share destinations.', 'sortorder' => '694', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '806', 'article_category_id' => '60', 'title' => 'Qatar Wins CAAN Award', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" height="218" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/qatarAirways.jpg" style="text-align: justify;" width="406" /></p> <p style="text-align: justify;"> Qatar Airways won the CAAN Award for transporting highest number of international passengers to Nepal. Suneer PC, representative of the airline, received the award from Posta Bahadur Bogati, Minister for Tourism and Civil Aviation. CAAN handed over the award in the last week of December, 2012.</p> <p style="text-align: justify;"> In Mid-January, Qatar Airways launched its inaugural long-haul Boeing 787 Dreamliner service on the Doha –London-Heathrow route, becoming the first airline to operate regular scheduled flights with the state-of-the art aircraft to and from the UK. According to the airline, passengers flying from Nepal can also experience the new 787 on connecting flights to selected destinations.</p> <p style="text-align: justify;"> Similarly, the airline also announced direct scheduled flights from Athens to New York beginning mid-2013. Chief Executive Officer Akbar Al Baker made the announcement in Athens on the occasion of the airline’s eighth year in Greece and to commemorate the carrier’s increasingly strong operations in the country.</p> <p style="text-align: justify;"> Qatar Airways on December 5 launched scheduled flights to Poland, its latest entry into Central Eastern Europe and 12th new route of the year.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Qatar Airways won the CAAN Award for transporting highest number of international passengers to Nepal. Suneer PC, representative of the airline, received the award from Posta Bahadur Bogati, Minister for Tourism and Civil Aviation. CAAN handed over the award in the last week of December, 2012.', 'sortorder' => '693', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '805', 'article_category_id' => '56', 'title' => 'Corporate', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <strong>Himal Tea Industries Pvt Ltd</strong>, an exporter and specialty manufacturer, blender and packager of Nepali tea has launched its Rakura Heavenly Classics brand of tea. According to the company, the tea is packed in the nation’s first double chambered tea bags. Rakura tea is available in three flavours, namely Green, Black and CTC. The tea features odourless rapid release filter paper, surgical grade antimicrobial aluminum wires, unbleached pure cotton thread and food grade tags made from natural fibres, claims the company.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> The <strong>British College</strong> situated at Trade Tower, Thapathali, has announced the signing of a Memorandum of Understanding between the College and two companies located in the premises of the Trade Tower, namely ER Sigdel and Associates, Chartered Accountants and the Trade Tower Business Centre. Under the agreement, students from the College will have the opportunity to pursue internships with these companies as part of their UK University degree courses.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> <strong>Laxmi Bank</strong> has introduced a micro credit initiative in Tansen Municipality in partnership with Lumanti, an NGO working for the alleviation of urban poverty in Nepal. According to the Bank, this home loan programme aims to benefit at least 100 low-income families in the municipality. The bank has entered into an agreement with Lumanti and Tansen Municipality to extend individuals loans up to Rs 150,000 each under this programme. Under this credit programme, borrowers can repay the loans in easy monthly installments over a period of five years.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Himal Tea Industries Pvt Ltd, an exporter and specialty manufacturer, blender and packager of Nepali tea has launched its Rakura Heavenly Classics brand of tea. According to the company, the tea is packed in the nation’s first double chambered tea bags.', 'sortorder' => '692', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '804', 'article_category_id' => '56', 'title' => 'Automobiles', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Anna Automobiles Pvt Ltd has launched Piaggio Robinson, a 150 cc bike in the market. Piaggio is an Italian motorcycle and scooter manufacturer internationally recognized for its technology, craftmanship, design and efficiency. According to the company, the new bike is inspired by the racing spirit of Aprilia. The features of Robinson include front disk brakes, 5-speed transmission, digital meter with gear indicator, an 18-litre tank, sporty LED signal and tail lamps and a hydraulic rear shock absorber which can be adjusted as needed. The bike is priced at Rs 209,000, and the company is giving a discount of Rs 10,000 as the introductory offer.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Anna Automobiles Pvt Ltd has launched Piaggio Robinson, a 150 cc bike in the market. Piaggio is an Italian motorcycle and scooter manufacturer internationally recognized for its technology, craftmanship, design and efficiency.', 'sortorder' => '691', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '803', 'article_category_id' => '56', 'title' => 'FMCG', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Jaya Confectionary Pvt Ltd has introduced a new campaign named ‘Fresho Breath’ for its Fresho Menthalyptus candy. According to the company, Fresho Menthalyptus is a mint flavoured candy that has a mint ingredient which helps purify the breath and keeps the mouth fresh. The campaign uses multimedia at the national level to convey its message, primarily targeting the youth, especially teenagers. The hard boiled confectionery is available at all retail outlets across the nation at the price of Re1 per unit.</p> <p> Dabur Nepal has launched Banana Strawberry and Green Apple Punch, two new variants in its Real Activ Fiber+ range of juices. According to the company, Real Activ Fiber Banana Strawberry is an exquisite blend of strawberry, banana and other fruits that gives the experience of eating a fruit. Similarly, Real Activ Green Apple Punch is a blend of green apples and other fruits handpicked from the best of orchards and packed with the goodness of fiber, claims the company.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Jaya Confectionary Pvt Ltd has introduced a new campaign named ‘Fresho Breath’ for its Fresho Menthalyptus candy. According to the company, Fresho Menthalyptus is a mint flavoured candy that has a mint ingredient which helps purify the breath and keeps the mouth fresh.', 'sortorder' => '690', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '802', 'article_category_id' => '56', 'title' => 'Electronics', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Saurabh Photo International has launched two new models of KONKA LED TV - 701 Series LED TV and 30 Series LED TV in the market. KONKA 701 Series LED TV comes with features like Full HD 3D, IPS Hard Screen and Healthy Non-flickering, Smart Chip with High Brightness Judder-proof, and Full HD1080P, among others. KONKA 701 Series LED TV is available in 47” and 50”sizes in the market. KONKA 30 Series LED TV has features like Perfect Picture and synchronized transfer from 2D to 3D, high resolution, non-dizziness, real pictures and true colours. KONKA 30 Series LED TV is available in 47”size.</p> <p> Canon has launched EOS 6D in the market that it claims to be the world’s lightest full-frame DSLR equipped with a 20.2 megapixel CMOS sensor with precision 11-point AF system. The EOS 6D also offers built-in WiFi and GPS support. Similarly, Canon has also launched three mid- to high-end PowerShot compact cameras namely PowerShot G15, PowerShot S110 and PowerShot SX50 HS.</p> <p> NIYO International Pvt Ltd has started selling Hi-Tech Water Purifier in Nepal. The Indian made water purifier uses the Reverse Osmosis technology to make water drinkable. High-tech is an ISO 9001: 2008 CE registered company. Its products are verified by the Water Quality Association America. The high-tech water purifier costs from Rs. 14,500 to 24,990 and comes with a one year warranty. </p> <p> </p> <p> International Marketing Services, the sole authorized distributor of Samsung Mobile in Nepal, has launched a new phone named Samsung Galaxy Music Duos smartphone. According to the company, the phone comes with enhanced audio features and is available at Rs 16,690. The features of the phone include dual SIM, with 2 SIM ‘Always On’ feature, excellent sound quality with dual SRS speakers and ‘Sound Alive’ feature. It connects to the Internet via WiFi or 3G and operates on Android 4.0 Ice-cream sandwich platform (upgradable to Jellybean). It has an internal 4 GB memory that can be expanded up to 32 GB.</p> <p> Tara International Pvt Ltd has announced the launch of the latest version of its antivirus product, Bitdefender 2013, in the Nepal market. Araghya Sanyal, Bitdefender-South Asia Channel and Sumeru Shrestha, CEO of Tara International, formally launched the antivirus at a function held at Annapurna Hotel. Tara International is the authorized distributor of the products. At the function, a demonstration of the features of the antivirus was made. Bitdefenders products include Antivirus plus 2013, Internet security 2013 and Total security.</p> <p> Him Electronics Pvt Ltd has introduced Himstar Electric Kettle in the market. This electric kettle, according to the company, is manufactured with stainless steel to prevent rusting while its 360 degree cordless control with detachable power base helps to move it according to the need. The kettle comes with a neon indicator that indicates the state of water inside.</p> <p> LG Electronics (LG), a global leader and technology innovator in consumer electronics announced the launch of World’s Narrowest Bezel 3D TV in Nepal. Unveiling its new product line up at a grand event, LG revealed the cutting-edge 3D bezel TV model 55LM9600 that is sized at 1mm (Off) and 4.7mm(On), setting a new world record for the narrowest bezel 3D TV. According to the company, this Smart TV, equipped with the most advanced 3D technology, enables a smoother and more immersive 3D viewing bringing a limitless world of 3D entertainment at the tip of your magic remote.</p> <p> </p> <p> Colors Mobile has launched CDMA phone C1 in the market. According to the company, this CDMA handset is the most affordable mobile handset in its category, and is equipped with numerous features. C1 comes with inbuilt FM radio, 1000 mAH battery, large phone book, big speaker and SMS chat facility. The phone with 1.5” LCD screen also features Bluetooth connectivity. Thecompany is offering a 6-month warranty on the handset and its battery and charger.</p> <p> Colors Mobile has launched Colors Evdo, a CDMA modem in the market. According to the company, the wireless modem is targeted at the internet savvy customers who want an easy access to the Internet. The I/O Interface (USB) Evdo has data speed of 3.1 Mbps in forward link and 1.8Mbps in the backward link. The modem with inner antenna supports R-UIM and has a Micro SD card slot that supports up to 16GB. Apart from these features, this modem also supports Windows XP/2000/Windows 7/Vista/Ubuntu/Mac 6.0. The modem comes with a six-month warranty.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Saurabh Photo International has launched two new models of KONKA LED TV - 701 Series LED TV and 30 Series LED TV in the market. KONKA 701 Series LED TV comes with features like Full HD 3D, IPS Hard Screen and Healthy Non-flickering, Smart Chip with High Brightness Judder-proof, and Full HD1080P, among others. KONKA 701 Series LED TV is available in 47” and 50”sizes in the market. KONKA 30 Series LED TV has features like Perfect Picture and synchronized transfer from 2D to 3D, high resolution, non-dizziness, real pictures and true colours.', 'sortorder' => '689', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '801', 'article_category_id' => '34', 'title' => 'Simrik Air’s Fleet Expansion Plan', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <img align="left" alt="" height="120" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/simrikAir.jpg" style="margin:0 10px 10px 0;padding:5px;" width="227" />The private airline company, Simrik Air has announced to expand its fleet of choppers to six within two years. “We want to develop our company as a ‘rescue hub’ worldwide,” said Capt Rameshwor Thapa, Executive Chairman of Simrik Air. The company is set to sell the two existing BK-117 helicopters and bring in new six-seat small helicopters. “We have been providing the best chopper services to the major tourism destinations and it makes us the first proud airline, outside the West, to boast such helicopters in the fleet,” Thapa said. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'The private airline company, Simrik Air has announced to expand its fleet of choppers to six within two years. “We want to develop our company as a ‘rescue hub’ worldwide,” said Capt Rameshwor Thapa, Executive Chairman of Simrik Air.', 'sortorder' => '688', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '800', 'article_category_id' => '34', 'title' => 'Namaste To Fly Domestic Sky In 3 Months', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> Namaste Air, a newly licensed domestic airline, is making preparations to start flying on the domestic routes within three months. The company received the Air Operator’s Certificate (AOC) towards the end of 2012. AOC is the go-ahead document from the Civil Aviation Authority of Nepal (CAAN).</p> <p style="text-align: justify;"> According to Raju KC (Khatri), Executive Chairman of the company, internal preparations are underway to start flights at the earliest. “Currently we are doing the groundwork to commence flights with two 78-seater ATR-72,” he said.</p> <p style="text-align: justify;"> Namaste Air is also speeding up its internal infrastructure development and training pilots and co-pilots. According to KC, the company is collaborating with an American company named Pentagon Capital to bring two ATR aircraft at the first stage. He said his company has received CAAN’s permission to bring the craft and has already sent US $ 60,000 to the supplier of the craft a month ago. </p> <p style="text-align: justify;"> KC also claimed that the company is to import airplanes of the latest model that no Nepali Airline possesses so far. According to him, the model is 2007 and the craft has flown for just about 5 years. Initially, two airplanes will be imported and then after 2-3 months other two 42-seater ATR-42 will be purchased. </p> <p style="text-align: justify;"> Namaste Air has said that it will bring the airplanes on lease but plans to acquire the full ownership soon. </p> <p style="text-align: justify;"> The company has permission to operate flights to eight trunk routes of Nepal—Pokhara, Biratnagar, Chandragadhi, Nepalgunj, Kathmandu, Tumlingtar and Dhangadhi from its base in Bhairahawa. “We will compete with the airlines that are currently operating in Nepal,” said KC. According to the existing rules, a company seeking to start an airline service has to have a paid-up capital of Rs150 million and furnish a bank guarantee worth Rs 200,000. Namaste Air will have a challenge to compete with major airlines such as Buddha Air and Yeti Air that have been flying on the trunk routes. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'The company is to import airplanes of the latest model that no Nepali Airline possesses so far. Initially, two airplanes will be imported and then after 2-3 months other two 42-seater ATR-42 will be purchased', 'sortorder' => '687', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '799', 'article_category_id' => '34', 'title' => 'Int’l Airlines Can Now Operate 14 More Flights A Week', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> The Ministry of Tourism and Civil Aviation (MoTCA) has allowed 14 more international flights a week to each of the international airlines currently providing their service in Nepal. According to Suresh Acharya, Under Secretary at MoTCA, although they were bound by the Air Service Agreement (ASA) in case of seat capacity, they were not allowed to increase flight numbers. He said “This type of permission is temporary and is valid until the review of the ASA.” International airlines serving in Nepal will be able to add more flights from 1st January 2013. Previously, more flight permission was given during Lumbini Visit Year 2012 and Nepal Tourism Year 2011. The 2012-permission to 10-more-flights-a-week expired on 31st December 2012. </p> <p style="text-align: justify;"> The permission has been given to ease the international airlines operational in Nepal for New Year 2013. The airlines of 16 countries that are providing their service in Nepal at present will benefit from this decision. MoTCA had given additional flight permissions in 2007 and 2008 as well. Though 32 airlines from 16 countries have received the permission to operate international flights to and from Nepal, only 29 are in service at present. Airlines from countries like the UAE, China, Pakistan, Australia, Bhutan, Saudi Arabia, UK, Russia, Japan etc will benefit from the permission. </p> <div> </div>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'International airlines serving in Nepal will be able to add more flights from 1st January 2013. Previously, more flight permission was given during Lumbini Visit Year 2012 and Nepal Tourism Year 2011.', 'sortorder' => '686', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '798', 'article_category_id' => '34', 'title' => 'Surya Nepal Announced Entrepreneurship Award 2012', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> Surya Nepal Pvt Ltd awarded the Asha Social Entrepreneurship Award (SNASEA) to 12 Nepali entrepreneurs who created value for the ‘People, Planet and Profit’ on December 18, 2012. It awarded five industrialists; Shanti Shakya Dolma of Kakani Himalayan Natural Dyes, Chiranjeevi Poudel of Seeing Hands Clinic, Dr Bishal Dhakal of Health at Home Private Limited (HHPL), Prachanda Shakya of Nepal Traditional Handicraft Training Centre and Jasmaya Pun of Hampaal Allo Tatha Kapada Bunai Udhyog in the ‘Hidden Heroes’ category. These five winners will each get a package which includes cash prize from Surya Nepal Private Limited along with the opportunity of networking through ChangeFusion Nepal. Similarly in the ‘Agents of Change’ category, it awarded Govinda Ghimire of Alternative Herbal Pvt Ltd, Tara Baskota Adhikari of Shangri-La Agro World and Som Prasad Gauchan of Everest Tea Estate Pvt Ltd. Likewise, SNASEA 2012’s additional recognition - ‘NBI Agent of Change’ awarded to Himalayan Naturals Pvt Ltd, Lotus Holdings Pvt Ltd, Women Support Saving and Credit Cooperative Society Ltd and Brihat Investments Pvt Ltd for businesses that support startups, assist enterprise development and promote the culture of entrepreneurship in Nepal. According to Surya Nepal, All the winners were selected after an intense process of evaluation amongst 84 applicants.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Surya Nepal Pvt Ltd awarded the Asha Social Entrepreneurship Award (SNASEA) to 12 Nepali entrepreneurs who created value for the ‘People, Planet and Profit’ on December 18, 2012. It awarded five industrialists; Shanti Shakya Dolma of Kakani Himalayan Natural Dyes, Chiranjeevi Poudel of Seeing Hands Clinic, Dr Bishal Dhakal of Health at Home Private Limited (HHPL), Prachanda Shakya of Nepal Traditional Handicraft Training Centre and Jasmaya Pun of Hampaal Allo Tatha Kapada Bunai Udhyog in the ‘Hidden Heroes’ category.', 'sortorder' => '685', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '797', 'article_category_id' => '34', 'title' => 'EBL Appoints Sadichha Shrestha As Brand Ambassador', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <img align="left" alt="" height="215" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/everestBank.jpg" style="margin:0 10px 10px 0; padding:5px;" width="250" /></p> <p style="text-align: justify;"> Everest Bank Ltd (EBL) has appointed Miss Nepal 2010 Sadichha Shrestha as the Brand Ambassador to promote its brand, products and services. The bank has also launched a new deposit product called ‘Sadichha Deposit’ targeting young people. Parents, too, can open the account in the name of their children. According to EBL, this is the recurring type of deposit in which the children are given 0.50 per cent additional interest than the normal published rate. Besides, for every account, the bank will be providing Rs 5 in order to create a fund for the helpless and needy. Every year on EBL’s annual day function, the fund will be donated to orphanages, schools, child activists etc.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Everest Bank Ltd (EBL) has appointed Miss Nepal 2010 Sadichha Shrestha as the Brand Ambassador to promote its brand, products and services. The bank has also launched a new deposit product called ‘Sadichha Deposit’ targeting young people.', 'sortorder' => '684', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '796', 'article_category_id' => '34', 'title' => 'Chinese Investors Meet FNCCI Team', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> A visiting business delegation of Chinese investors has shown interest to invest in Nepal. In a meeting with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the visiting delegation held talks on bilateral trade relationship and on possible Chinese investment in sectors such as tourism, infrastructure development, hydropower, minerals and agriculture. FNCCI’s Senior Vice-President Bhaskar Raj Rajkarnikar led the FNCCI team while the Vice-President of China Council for Promotion of International Trade (CCPIT), Gaungdong Luo Bingzhi, led the Chinese delegation in the meeting. The meeting further discussed the possibilities and ways to lower Nepal’s trade deficit with China. FNCCI decided to utilize the customs duty waiver given by the Chinese government on various 4,721 Nepali goods. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'A visiting business delegation of Chinese investors has shown interest to invest in Nepal. In a meeting with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the visiting delegation held talks on bilateral trade relationship and on possible Chinese investment in sectors such as tourism, infrastructure development, hydropower, minerals and agriculture.', 'sortorder' => '683', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '809', 'article_category_id' => '42', 'title' => 'Above Three Years’ High', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size:16px;">Above Three Years’ High</span></strong></p> <p> <span style="color:#72d1fe;"><span style="font-size: 12px;"><b>(Review for 25 November to 24 December, 2012)</b></span></span></p> <p> <span style="font-size:12px;"><strong>By Bikram Chitrakar</strong></span></p> <p style="text-align: justify;"> <img align="right" alt="" height="396" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/sectorwise_distribution.jpg" style="margin:0 0 0 10px;" width="321" />December 2012 saw Nepal’s stock market reach nearly three years’ high and the bull run is continuing also in January 2013. The benchmark Nepse index stretched 28.31 points or 5.39 percent during the review period between November 25 and December 24 to close at the session’s high of 525.67 while the session’s low was on December 3 with 481.94. The previous high was at 524.19 recorded on 18 January, 2010. </p> <p style="text-align: justify;"> Fall in the banking interest rate and the liberal attitude of banks in extending loans for the purchase of shares from the secondary market have contributed to pull the investors toward the secondary market. The significant growth in the turnover shows the growth in the number of investors in the market.</p> <p style="text-align: justify;"> One important development of the month was New Fund Offer (NFO) by Siddhartha Capital. The scheme, named Siddhartha Investment Growth Scheme-I, is worth Rs 400 million with 5 years maturity. Another similar development was the issuance of IPO by Civil Bank; the bank floated eight million units of general shares. Both these offers in the primary market were lapped up by the investors. Still the secondary market continued its upward journey providing further proof to both of the claims of the analysts that the market is getting new investors and that the existing investors have regained their optimism. </p> <p style="text-align: justify;"> The recent acceleration has been underpinned by the same fundamentals that govern the sentiments of Nepali investors. Timely settlement of the present political chaos will certainly drive the market higher irrespective of the resistance that can be expected at this level. </p> <p style="text-align: justify;"> <strong>Performance by Sector</strong></p> <p style="text-align: justify;"> The manufacturing sector, led by Unilever Nepal, posted a whopping gain of 118.98 points or 14.03 per cent to reach 847.94. The commercial bank sector that holds a very high share in the market added 50.36 points or 9.82 per cent to settle at 513.05. Similarly, the development bank sector accelerated 11.40 points to 263.29 while the hydropower sector surged 3.12 points or 0.30 per cent to rest at 1050.88. However, the hotels sector plummeted 60.73 points or 10.24 per cent to 593.01. Likewise, the insurance sector lost 16.96 points and the ‘others’ sector 12.92 points to settle at 739.81 and 774.22, respectively. The finance sector descended 8.04 points or 3.14 per cent to settle at 255.87.</p> <p style="text-align: justify;"> The sensitive index that measures the performance of 133 blue chip scrip at the secondary market moved 9.42 points or 6.81 per cent up to 138.39 while the float index calculated on the basis of real transaction escalated 0.59 points or 1.65 per cent to 35.84. A total turnover of Rs 2,391,327,495 was realized during the review period through the trading of 6,746,527 units of share traded via 29,146 transactions.</p> <p style="text-align: justify;"> The accompanying figure depicts the sector-wise distribution based on the total volume of trade. As usual, the commercial bank sector grasped 77.65 per cent of the total volume of trade. The hydropower sector occupied 8.61 per cent, insurance sector 4.27 per cent and the remaining sectors made up for the rest.</p> <p style="text-align: justify;"> Technically, the Simple Moving Average (SMA) in both long term and short term is dominated by the Nepse. Both, 200 days SMA and 30 days SMA are outcast with straight ascending of the index, while testing of resistance level is intact at this level.</p> <p style="text-align: justify;"> <img align="" alt="" height="375" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/market_trend.jpg" style="margin:5px;" width="387" /><img align="" alt="" height="378" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/movement_in_indices.jpg" style="margin:5px;" width="362" /></p> <p style="text-align: justify;"> <strong>Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.</strong></p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Fall in the banking interest rate and the liberal attitude of banks in extending loans for the purchase of shares from the secondary market have contributed to pull the investors toward the secondary market.', 'sortorder' => '697', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '812', 'article_category_id' => '41', 'title' => 'Secured Business Of Nepali Paper', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Sushila Budhathoki</strong></p> <p style="text-align: justify;"> <img align="left" alt="" height="391" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/lokta_product(1).jpg" style="margin:0 10px 0 0;" width="200" />The Nepali paper industry is one such industry in the country that has withstood the ongoing political turbulence to run in profit. This is also reflected in the fact that handmade Nepali paper products produced by this industry contribute around 10 per cent to Nepal’s total export and this contribution is growing by 7 to 8 per cent annually. Bikash Ratna Dhakhwa, President of the Federation of Handicraft Association of Nepal (FHAN) is quite happy with the growth of the Nepali paper business even during such harsh times. He says, “Had there been a good environment for industries, politically as well as economically, this sector would have seen a massive growth.” </p> <p style="text-align: justify;"> The ever-growing market demand of the Nepali paper or Lokta Kagaj, as it is locally known, is the main reason behind the steady performance of the Nepali paper industry. Lokta has been successful in attracting many craft lovers nationally and internationally. Products made of Lokta are a major attraction at every handicraft trade fair. Dhakhwa says, “We have been organizing numerous handicraft fairs to promote the business of these products. We are now organizing the 10th handicraft fair which would definitely be fruitful to the Nepali paper business among other handicraft businesses.” According to FHAN, the export of paper products increased by 32 per cent to Rs 410 million in FY 2011/12 from Rs 310 million in 2010/11. </p> <p style="text-align: justify;"> Once replaced by the massive import of cheap papers from China, the Lokta has regained its lost sheen because of its quality and uniqueness. Having seen the prospects, industrialist like Bishnu Das Dangol, former Managing Director of Bhaktapur Craft Paper Ltd- the first business enterprise to produce and export Nepali handmade paper - are being lured into the business again. Dangol has joined the company back after a long gap as its Executive Director. “I have entered this business again because it involves people from the grass-roots to those at the high level. The paper industry can become the major industry to eradicate poverty in our country,” he says. </p> <p style="text-align: justify;"> According to Kiran Kumar Dangol, President of HANDPASS (Nepal Handmade Paper Association) there are around 300 companies involved in the Lokta business and together they have employed around 50,000 people. He says, “Lokta is a big business today. We export Lokta products worth around Rs 40 to 50 million yearly. Europe accounts for 60 per cent of our export while the USA for around the remaining 40 per cent.” </p> <p style="text-align: justify;"> Benu Das Shrestha who is originally from Sindupalchok district has been making and selling the Lokta paper for the past two decades and is inspiration to many. He says, “Many of my friends have followed in my footsteps. Lokta is a low-cost business that we can afford to run and can start it with the help of just around 10 people.” It was more than 20 years ago that he started his Lokta factory, Jugal Nepali Haate Kagaj Udhyog, at Jalbire, his birthplace in Sindhupalchok. Today, Shrestha earns around Rs 60,000 a month and is also hopeful about expanding his business in the coming years.</p> <p style="text-align: justify;"> For industrialists like Satyalal Shrestha, who has spent 25 years in the Lokta business and is the owner of Bagmati Paper Company, it is a business of creativity. In the beginning, he used to produce the plain Lokta paper. But he soon found new ways to diversify his business and today he produces several creative paper products. “We design various items according to the needs of the customers and we often consult with them before making new products,” he shares. </p> <p style="text-align: justify;"> Shrestha produces a range of products from wall hangings, photo-frames, albums, mirrors, and paper vases to the extra-ordinarily made paper jewelries. His creativity is seen in the marvelous set of paper tables which are perfect even for dining. However, he has no showroom in Nepal and anyone wanting to buy his products has to visit his factory and give an order in advance. The average annual turnover of his company is around Rs. 20 million.</p> <p style="text-align: justify;"> The Lokta paper has a long history in Nepali paper usage. Although Lokta is being produced in Nepal from as early as the twelfth century, it got international recognition when the UNICEF started to buy and use it for important documents. Known for its long lasting quality, the handmade Lokta has been traditionally used for official purpose for ages. But today it is used for many purposes. The Nepali paper used for the legal and government documents is produced with a Japanese technology in A4 size. This paper is made from not only the bark of the Lokta tree but also other plants like Argeli (Edgeworthia gardeneri), babiyo (Eulaliopsis binata), hay, leaf of cardamoms etc. </p> <p style="text-align: justify;"> Many farmers have contributed to run the Lokta business and most of them are working at the community level enterprises in association with different groups of collectors. They produce the Lokta paper according to the demand of the buyers from different paper industries. The paper can be used directly after buying from them. However, processes like shorting, coloring, processing, etc at the paper factories further enhances the quality of the Lokta paper. Dangol says, “Unlike other products, the Lokta paper is 100 per cent handmade. All the raw materials are produced locally.” </p> <p style="text-align: justify;"> Lokta products are of two categories- pure and mixed ones. In the market, one sheet of pure Lokta paper weighing five gram costs around Rs 6 while the other paper with same weight made with mixed products cost around Rs 5. Similarly, a Lokta sheet weighing 20 gms costs Rs 18 while the mixed paper in the same category costs Rs 16. Lokta products are available as sheets, note-books, photo albums and picture frames, writing sets, and gift- boxes, among other products such as carry bags, calendars, file-folders, lampshades, greeting cards, wall papers, photo frames, art paper, picture albums, gift sets, postcards, paper jewelry, jewelry boxes, telephone diaries, etc. The price for these products differs with the size, weight and quality.</p> <p style="text-align: justify;"> The Lokta plant is found in 56 districts of the country. According to the FNCCI’s document ‘Business Promotion Strategy (2012 – 2016)’, Lokta is listed among the 20 species of Non Timber Forest Products (NTFPs) including some exotic species like Mentha, chamomile, lemongrass, Dalchini, etc. The Western Mid Hilly regions and the hilly district of Gandaki and Dhaulagiri Zones - Baglung, Myagdi, Parbat, Kaski, Lamjung, Syangja, and Tanahu - are the main locations of the Lokta plant. Usually, the Lokta plant is harvested when it is mature enough. </p> <p style="text-align: justify;"> <strong>Brand Nepal </strong></p> <p style="text-align: justify;"> Lokta paper has been identified among the 19 major exportable goods of the country. It has become a brand name in itself and is known as a quality paper all over the world. Today, Lokta paper’s international market is far bigger than its local market. According to the traders, Lokta products have a huge market in countries like the USA, Canada and many European countries like Germany, the United Kingdom, France, Italy, Denmark and lately, Japan in Asia.“Due to the unique feature and quality, there is a high demand for the Nepali paper in the international market,” Shares Bisnu Das Dangol. </p> <p style="text-align: justify;"> With its attractive texture, durability, strength and resistance to insects, Lokta products are popular even in the digital age and this is an amazing truth for the people involved in this business. Unlike the previous Lokta papers, the Lokta papers today are well-finished products available in a range of colors, textures, patterns and prints. They can be customized for different logos, graphics, colors, designs and paper weight. The success of Nepali industrialists in developing a variety of Lokta products has been a plus point for this business. Satyalal says, “The customers are demanding more and more varieties of Lokta products.”</p> <p style="text-align: justify;"> Bisnu Das Shares, “If we can market our products aggressively, all national and international organizations will start using the Nepali paper for their important documents in no time.” The paper is among the costly papers available in the international market. The demand for Lokta-made gift items like cards for different occasions such as weddings, birthdays etc is high in the Nepali market while Lokta-made notebooks, boxes, wrapping- papers, different kinds of printed papers are sought after internationally. Recently, Lokta has found popularity in the making of fashion accessories as well. </p> <p style="text-align: justify;"> <strong>Future in paper</strong></p> <p style="text-align: justify;"> <img align="right" alt="" height="339" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/lokta_product(2).jpg" style="margin:0 0 0 10px;" width="454" />Due to the growing demand, the need for conserving and promoting Lokta and producing high quality papers has emerged at the same time. However, the lack of sustainable harvesting and cultivation process has put the raw materials used for producing the Lokta paper at the risk of extinction. Saraswati Rai, Operation Manager at Himalayan Bio-Trade (HBTL) - a community-based enterprise - is concerned about the negligence in the preservation of the Lokta plant. According to her, it would be difficult to keep up the quality of the Lokta paper in the long run in the absence of concerted efforts to preserve the Lokta plant. “The Lokta products are not being produced in a sustainable way.” The Lokta plant has a unique ability to regenerate and reach maturity within four to five years after the first cutting. But it demands skilled manpower for its harvesting. This ability should also make the preservation of the Lokta plant comparatively easy. Lokta can generate much more employment at the grassroots even if the farmers take Lokta growing as a seasonal business. Rai says, “If we have trained collectors for harvesting Lokta and if we can maintain the quality, the business has a very bright future ahead.” HBTL buys papers made from Lokta or argeli from the farmers. Though Rai shares that the company’s overall production has declined in comparison to the previous years, she is confident of the everlasting market of the Nepali Paper. HBTL’s average annual turnover is around Rs 30 million of which its paper business constitutes Rs 20 million. </p> <p style="text-align: justify;"> If given due importance, the Lokta paper stands fairly high chances getting much bigger and better national and international markets. “International buyers are looking for unique and valuable products like the Nepali paper which is basically exported as handicraft products,” shares Bisnu Das. </p> <p style="text-align: justify;"> According to the traders, though the existing Lokta products are good enough and doing very well, there is an urgent need to develop even better and advanced products. Many organizations are facilitating the designers who could design Lokta products to meet the international demand. They are also providing training to the new generation people who are attracted to paper production, designing and marketing. Some of the organizations and Lokta collectors have even started conserving the Lokta plants. The traders involved in the Lokta business have started getting cash incentives, four and a half per cent re-financing and also export incentives. So, if you are planning to venture into a long-term business in Nepal that has withstood the tests of time, then the Lokta business could be the right place to invest in. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-23', 'keywords' => '', 'description' => 'The ever-growing market demand of the Nepali paper or Lokta Kagaj, as it is locally known, is the main reason behind the steady performance of the Nepali paper industry.', 'sortorder' => '696', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '808', 'article_category_id' => '39', 'title' => 'Small Is Mega For Mega Bank', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> Big things come in small packages for Mega Bank Nepal Limited. When the bank was established around two years back, its vision to be a bank for every Nepali grabbed the attention. Driven by the slogan ‘Halo to Hydro’ (Plough to Power), the bank started its journey as a commercial bank with 1219 promoters from 63 of the country’s 75 districts. </p> <p style="text-align: justify;"> Financial inclusion is one of the major objectives and vision of the bank which strives to become a truly people’s bank. This objective also provides the bank with a route to profitability. It is such simple and small visions and objectives which make the guiding policy of Mega Bank. </p> <p style="text-align: justify;"> <img align="left" alt="" height="188" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/anilShah.jpg" style="text-align: start; margin: 20px 10px 10px 0px;" width="149" /></p> <div> </div> <div> <h3> <strong>‘We will make a path through the jungle, not through a six lane highway and show others that there is a business there as well’</strong></h3> <p> <strong><span style="font-size: 14px;"><br /> </span></strong></p> <address> <strong>Anil Shah</strong></address> <address> <strong>Chief Executive Officer </strong></address> <address> <strong>Mega Bank Nepal Limited </strong></address> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> <img align="left" alt="" height="203" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/mega_counter.jpg" style="text-align: justify; margin: 15px 10px 10px 0px;" width="350" /></div> <p style="text-align: justify;"> According to Anil Shah, Chief Executive Officer of Mega Bank, the Small and medium enterprises (SMEs) segment is a priority for the bank. “The SME segment is one of the good opportunities for the bank. It is in fact the best investment sector for any bank. Mega Bank has continuously tried to reach out to small enterprises and individual clients,” he says. Similarly, micro credit and rural lending, too, are at the top of the bank’s priority list. “We want to invest 40 per cent out of our total lending of Rs 13 billion in the SMEs,” Shah adds. </p> <p style="text-align: justify;"> Shah believes that SMEs are the backbone of Nepal’s economy as almost every village and every street of every town has small shops. He thinks that these shops need to be supported by the banking system. According to him, Mega Bank dreams to create numerous Bhatbhatenis – an epitome of SME success - across the country. That’s why the bank has focused on SMEs right from its commencement. “We have a branch which has lent micro credits to around 20 thousand sugarcane farmers. They need fertilizers. So, our corporate customers import fertilizers and sell it to these farmers. The farmers are able to pay them by taking micro loans. So, we have a value chain with SMEs in the middle,” Shah explains.</p> <p style="text-align: justify;"> Although it is mandatory for a commercial bank to issue initial public offerings (IPO), Mega Bank perceives this provision as a means to be more financially inclusive. Shah opines that it is always better when wealth is distributed among people rather than being concentrated among a handful of corporate promoters or big joint ventures outside the country. “Our vision is to issue IPO to as many Nepalis as possible and make them our shareholders. That is part of our aim to spread wealth,” he shares. </p> <p style="text-align: justify;"> The bank is planning to issue its IPO worth Rs 700 million in the third quarter of the current fiscal year. This will increase the bank’s paid-up capital to Rs 2.3 billion from Rs 1.63 billion at present. Around 70 per cent of the bank’s stakes are owned by the promoters while the remaining 30 per cent with the general public. Interestingly, Mega Bank’s promoters, too, are the general public, unlike in any other commercial bank where the ownership remains with a handful of corporate houses or joint ventures. According to Shah, the bank has 1291 promoters from 63 districts and they have invested from Rs 1 million to Rs 10 million in Mega Bank. </p> <p style="text-align: justify;"> “The wealth that the bank creates goes to Nepali families spread across the country,” says Shah. That was something that inspired Shah to be a part of the bank since its initial days. He believes that Nepal should have a banking model that is original – not copied from north, south, east or west. “It has to be intrinsically Nepali. Let the world copy it,” he says, adding that the ‘Mega Model’ is essentially a start towards that journey. </p> <p style="text-align: justify;"> The Mega Model is a different attempt of the bank to serve the entire economic pyramid. This pyramid, according to Shah, has corporate and high class banking clients on the top and SMEs in the middle and general customers – rural farmers, SME owners and other micro credit seekers - at the base. The bank has a separate unit named ‘Mega Micro’ that reaches out to the villages to serve the ‘Halo’ level. He says, “This is neither a Bangladeshi model nor a private bank model. When we make this successful, this is the model which is going to be followed regionally as well as globally.”</p> <p> <img align="right" alt="" height="211" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/mega_interior.jpg" style="margin: 0px 0px 0px 10px;" width="350" /></p> <p style="text-align: justify;"> Within the first two years its commencement, the bank has earned over 87,000 customers who have deposited more than Rs 11 billion there. The bank’s total investment is around Rs 10.5 billion. Shah is quite content with the bank’s achievements in its initial two years.“In these two years, Mega Bank has reached where we wanted it to. However, the foundation is still being laid and there is a long way to go,” he says, adding that it would take three to five more years before the bank has a well-built foundation. “In 100 to 150 years from now, people will be happy to be a part of this bank. Banking is not a short-term industry. The decisions that I as a CEO or the board takes now must add long-term values to the bank. Decisions should be taken with the at least the next 10 or 20 years in mind,” he explains.</p> <p style="text-align: justify;"> One of the greatest achievements of the bank in its first two years is the creation of a well known brand name. Shah who has helped create larger-than-life brand images in the past has proved his mettle at Mega Bank as well. “People should be forthcoming to say that they want to be part of this bank either - be it as a customer, staff or a shareholder,” says he, “An excellent brand image can do that and that is our destination. Everything we have done in the first two years is a step towards that destination.” </p> <p style="text-align: justify;"> Shah gives credit to the management team which the bank calls the ‘Mega Team’ and the promoters’ vision for everything the bank has achieved till date. He says that the bank has got the team that believes in the ‘Mega Model’. “I don’t claim that we have the best banking team in the country, but for our vision, there isn’t a better team,” boasts Shah. The Mega Team has 429 employees. The bank’s working environment is guided by the philosophy of ‘professionalism with a personal touch’. He believes that the working environment has to be comfortable and friendly along with the respect for organisational hierarchy. “Our work culture is finally translated into the customer services. We offer the best professional service with a personal touch,” claims Shah.</p> <p style="text-align: justify;"> The bank’s management mantra is people, people and people. “It is all about leading people and finding out their strengths. Know what their strengths are and give them roles accordingly,” says Shah. He adds that the bank always gives priority to qualified people. Another management mantra is time management. The bank keeps its employees always prepared to accept any challenge or changes that may come out of the blue.</p> <p style="text-align: justify;"> Any organisation is constantly surrounded by numerous seen and unseen challenges and forces. Shah states, “Mega Bank and Mega Team do not use the current political environment as an excuse.” That is one of the reasons why the bank brought in the concept of branchless banking in a country like Nepal where it’s not possible for any bank to have a branch in every village. However Mega Bank wants to have its services available in every village through branchless banking. He explains, “A person working in Doha can send money to his/her family in Dolpa with just a cost of around Rs 300 in less than three minutes. Why can’t a bank situated in Kathmandu provide its financial services to the people in remote Nepal?” </p> <p style="text-align: justify;"> The bank began its branchless services last year and is now planning to expand them to across the country this year. As of now, the bank has 28 branches and offers branchless banking from 16 points and is planning to add 30 more such pints this year. “We want to have hundreds of digital branches in the future because having physical presence in the urban areas alone won’t help the vision of Halo to Hydro.”</p> <p style="text-align: justify;"> Rural banking is one of the top agenda of Mega Bank. At a time when a majority of commercial banks are based in the urban areas, Mega envisioned being a partner in rural banking. “We will make a path through the jungle, not through a six lane highway and show others that there is a business there as well. Once we do that, other financial institutions will follow us and together we will build a six-lane highway,” says Shah. </p> <p style="text-align: justify;"> <strong><strong><span style="font-size:14px;">SWOT Analysis</span></strong></strong></p> <p style="text-align: justify;"> <strong><strong>Strengths: </strong></strong></p> <ul> <li style="text-align: justify;"> <strong>1291 Promoters</strong></li> <li style="text-align: justify;"> <strong>Staff </strong></li> <li style="text-align: justify;"> <strong>The vision of Halo to Hydro </strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Weakness:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>Young team that is relatively new to banking</strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Opportunities:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>Rural areas</strong></li> <li style="text-align: justify;"> <strong>SMEs</strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Threats:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>External environment</strong></li> <li style="text-align: justify;"> <strong>Political environment</strong></li> </ul>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Financial inclusion is one of the major objectives and vision of the bank which strives to become a truly people’s bank. This objective also provides the bank with a route to profitability.', 'sortorder' => '695', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '807', 'article_category_id' => '60', 'title' => 'Etihad Airways Flew 10.29 Million Passengers In 2012', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> <img alt="" height="108" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/etihadAirways.jpg" style="margin:0 0 10px 0;" width="233" /></p> <p style="text-align: justify;"> Etihad Airways has surpassed its target of carrying 10 million passengers in 2012. The airline carried a total of 10.29 million passengers in the year - a 22 per cent increase from 8.41 million passengers in 2011. The airline has a global network that covers 87 of its own passenger and cargo destinations, and 245 code-share destinations.</p> <p style="text-align: justify;"> According to the official statement of the airline, passenger growth for Etihad Airways is mirrored by its equity partners. By the end of 2012, airberlin carried around 33.4 million passengers, Virgin Australia 19.5 million passengers, Aer Lingus nearly 11 million passengers, and Air Seychelles 241,000 passengers.Etihad Airways and its equity partners collectively carried more than 74 million passengers in 2012, with cooperation between the five airlines greatly contributing to passenger growth.</p> <p style="text-align: justify;"> James Hogan, Etihad Airways’ President and Chief Executive Officer, said, “Etihad Airways has achieved significant expansion in 2012 and therefore it’s very satisfying to pass our target of flying more than 10 million passengers during a year for the first time.Etihad Airways’ busiest route was Bangkok with the airline carrying nearly 691,000 passengers to the Thai capital during the year, a 38 per cent increase on 2011.This was closely followed by Manila, Heathrow and Jeddah. Sydney, Paris, Frankfurt, Manchester, Doha and Dublin complete the list of the 10 most popular routes of the airline.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Etihad Airways has surpassed its target of carrying 10 million passengers in 2012. The airline carried a total of 10.29 million passengers in the year - a 22 per cent increase from 8.41 million passengers in 2011. The airline has a global network that covers 87 of its own passenger and cargo destinations, and 245 code-share destinations.', 'sortorder' => '694', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '806', 'article_category_id' => '60', 'title' => 'Qatar Wins CAAN Award', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" height="218" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/qatarAirways.jpg" style="text-align: justify;" width="406" /></p> <p style="text-align: justify;"> Qatar Airways won the CAAN Award for transporting highest number of international passengers to Nepal. Suneer PC, representative of the airline, received the award from Posta Bahadur Bogati, Minister for Tourism and Civil Aviation. CAAN handed over the award in the last week of December, 2012.</p> <p style="text-align: justify;"> In Mid-January, Qatar Airways launched its inaugural long-haul Boeing 787 Dreamliner service on the Doha –London-Heathrow route, becoming the first airline to operate regular scheduled flights with the state-of-the art aircraft to and from the UK. According to the airline, passengers flying from Nepal can also experience the new 787 on connecting flights to selected destinations.</p> <p style="text-align: justify;"> Similarly, the airline also announced direct scheduled flights from Athens to New York beginning mid-2013. Chief Executive Officer Akbar Al Baker made the announcement in Athens on the occasion of the airline’s eighth year in Greece and to commemorate the carrier’s increasingly strong operations in the country.</p> <p style="text-align: justify;"> Qatar Airways on December 5 launched scheduled flights to Poland, its latest entry into Central Eastern Europe and 12th new route of the year.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Qatar Airways won the CAAN Award for transporting highest number of international passengers to Nepal. Suneer PC, representative of the airline, received the award from Posta Bahadur Bogati, Minister for Tourism and Civil Aviation. CAAN handed over the award in the last week of December, 2012.', 'sortorder' => '693', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '805', 'article_category_id' => '56', 'title' => 'Corporate', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <strong>Himal Tea Industries Pvt Ltd</strong>, an exporter and specialty manufacturer, blender and packager of Nepali tea has launched its Rakura Heavenly Classics brand of tea. According to the company, the tea is packed in the nation’s first double chambered tea bags. Rakura tea is available in three flavours, namely Green, Black and CTC. The tea features odourless rapid release filter paper, surgical grade antimicrobial aluminum wires, unbleached pure cotton thread and food grade tags made from natural fibres, claims the company.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> The <strong>British College</strong> situated at Trade Tower, Thapathali, has announced the signing of a Memorandum of Understanding between the College and two companies located in the premises of the Trade Tower, namely ER Sigdel and Associates, Chartered Accountants and the Trade Tower Business Centre. Under the agreement, students from the College will have the opportunity to pursue internships with these companies as part of their UK University degree courses.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> <strong>Laxmi Bank</strong> has introduced a micro credit initiative in Tansen Municipality in partnership with Lumanti, an NGO working for the alleviation of urban poverty in Nepal. According to the Bank, this home loan programme aims to benefit at least 100 low-income families in the municipality. The bank has entered into an agreement with Lumanti and Tansen Municipality to extend individuals loans up to Rs 150,000 each under this programme. Under this credit programme, borrowers can repay the loans in easy monthly installments over a period of five years.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Himal Tea Industries Pvt Ltd, an exporter and specialty manufacturer, blender and packager of Nepali tea has launched its Rakura Heavenly Classics brand of tea. According to the company, the tea is packed in the nation’s first double chambered tea bags.', 'sortorder' => '692', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '804', 'article_category_id' => '56', 'title' => 'Automobiles', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Anna Automobiles Pvt Ltd has launched Piaggio Robinson, a 150 cc bike in the market. Piaggio is an Italian motorcycle and scooter manufacturer internationally recognized for its technology, craftmanship, design and efficiency. According to the company, the new bike is inspired by the racing spirit of Aprilia. The features of Robinson include front disk brakes, 5-speed transmission, digital meter with gear indicator, an 18-litre tank, sporty LED signal and tail lamps and a hydraulic rear shock absorber which can be adjusted as needed. The bike is priced at Rs 209,000, and the company is giving a discount of Rs 10,000 as the introductory offer.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Anna Automobiles Pvt Ltd has launched Piaggio Robinson, a 150 cc bike in the market. Piaggio is an Italian motorcycle and scooter manufacturer internationally recognized for its technology, craftmanship, design and efficiency.', 'sortorder' => '691', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '803', 'article_category_id' => '56', 'title' => 'FMCG', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Jaya Confectionary Pvt Ltd has introduced a new campaign named ‘Fresho Breath’ for its Fresho Menthalyptus candy. According to the company, Fresho Menthalyptus is a mint flavoured candy that has a mint ingredient which helps purify the breath and keeps the mouth fresh. The campaign uses multimedia at the national level to convey its message, primarily targeting the youth, especially teenagers. The hard boiled confectionery is available at all retail outlets across the nation at the price of Re1 per unit.</p> <p> Dabur Nepal has launched Banana Strawberry and Green Apple Punch, two new variants in its Real Activ Fiber+ range of juices. According to the company, Real Activ Fiber Banana Strawberry is an exquisite blend of strawberry, banana and other fruits that gives the experience of eating a fruit. Similarly, Real Activ Green Apple Punch is a blend of green apples and other fruits handpicked from the best of orchards and packed with the goodness of fiber, claims the company.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Jaya Confectionary Pvt Ltd has introduced a new campaign named ‘Fresho Breath’ for its Fresho Menthalyptus candy. According to the company, Fresho Menthalyptus is a mint flavoured candy that has a mint ingredient which helps purify the breath and keeps the mouth fresh.', 'sortorder' => '690', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '802', 'article_category_id' => '56', 'title' => 'Electronics', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Saurabh Photo International has launched two new models of KONKA LED TV - 701 Series LED TV and 30 Series LED TV in the market. KONKA 701 Series LED TV comes with features like Full HD 3D, IPS Hard Screen and Healthy Non-flickering, Smart Chip with High Brightness Judder-proof, and Full HD1080P, among others. KONKA 701 Series LED TV is available in 47” and 50”sizes in the market. KONKA 30 Series LED TV has features like Perfect Picture and synchronized transfer from 2D to 3D, high resolution, non-dizziness, real pictures and true colours. KONKA 30 Series LED TV is available in 47”size.</p> <p> Canon has launched EOS 6D in the market that it claims to be the world’s lightest full-frame DSLR equipped with a 20.2 megapixel CMOS sensor with precision 11-point AF system. The EOS 6D also offers built-in WiFi and GPS support. Similarly, Canon has also launched three mid- to high-end PowerShot compact cameras namely PowerShot G15, PowerShot S110 and PowerShot SX50 HS.</p> <p> NIYO International Pvt Ltd has started selling Hi-Tech Water Purifier in Nepal. The Indian made water purifier uses the Reverse Osmosis technology to make water drinkable. High-tech is an ISO 9001: 2008 CE registered company. Its products are verified by the Water Quality Association America. The high-tech water purifier costs from Rs. 14,500 to 24,990 and comes with a one year warranty. </p> <p> </p> <p> International Marketing Services, the sole authorized distributor of Samsung Mobile in Nepal, has launched a new phone named Samsung Galaxy Music Duos smartphone. According to the company, the phone comes with enhanced audio features and is available at Rs 16,690. The features of the phone include dual SIM, with 2 SIM ‘Always On’ feature, excellent sound quality with dual SRS speakers and ‘Sound Alive’ feature. It connects to the Internet via WiFi or 3G and operates on Android 4.0 Ice-cream sandwich platform (upgradable to Jellybean). It has an internal 4 GB memory that can be expanded up to 32 GB.</p> <p> Tara International Pvt Ltd has announced the launch of the latest version of its antivirus product, Bitdefender 2013, in the Nepal market. Araghya Sanyal, Bitdefender-South Asia Channel and Sumeru Shrestha, CEO of Tara International, formally launched the antivirus at a function held at Annapurna Hotel. Tara International is the authorized distributor of the products. At the function, a demonstration of the features of the antivirus was made. Bitdefenders products include Antivirus plus 2013, Internet security 2013 and Total security.</p> <p> Him Electronics Pvt Ltd has introduced Himstar Electric Kettle in the market. This electric kettle, according to the company, is manufactured with stainless steel to prevent rusting while its 360 degree cordless control with detachable power base helps to move it according to the need. The kettle comes with a neon indicator that indicates the state of water inside.</p> <p> LG Electronics (LG), a global leader and technology innovator in consumer electronics announced the launch of World’s Narrowest Bezel 3D TV in Nepal. Unveiling its new product line up at a grand event, LG revealed the cutting-edge 3D bezel TV model 55LM9600 that is sized at 1mm (Off) and 4.7mm(On), setting a new world record for the narrowest bezel 3D TV. According to the company, this Smart TV, equipped with the most advanced 3D technology, enables a smoother and more immersive 3D viewing bringing a limitless world of 3D entertainment at the tip of your magic remote.</p> <p> </p> <p> Colors Mobile has launched CDMA phone C1 in the market. According to the company, this CDMA handset is the most affordable mobile handset in its category, and is equipped with numerous features. C1 comes with inbuilt FM radio, 1000 mAH battery, large phone book, big speaker and SMS chat facility. The phone with 1.5” LCD screen also features Bluetooth connectivity. Thecompany is offering a 6-month warranty on the handset and its battery and charger.</p> <p> Colors Mobile has launched Colors Evdo, a CDMA modem in the market. According to the company, the wireless modem is targeted at the internet savvy customers who want an easy access to the Internet. The I/O Interface (USB) Evdo has data speed of 3.1 Mbps in forward link and 1.8Mbps in the backward link. The modem with inner antenna supports R-UIM and has a Micro SD card slot that supports up to 16GB. Apart from these features, this modem also supports Windows XP/2000/Windows 7/Vista/Ubuntu/Mac 6.0. The modem comes with a six-month warranty.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Saurabh Photo International has launched two new models of KONKA LED TV - 701 Series LED TV and 30 Series LED TV in the market. KONKA 701 Series LED TV comes with features like Full HD 3D, IPS Hard Screen and Healthy Non-flickering, Smart Chip with High Brightness Judder-proof, and Full HD1080P, among others. KONKA 701 Series LED TV is available in 47” and 50”sizes in the market. KONKA 30 Series LED TV has features like Perfect Picture and synchronized transfer from 2D to 3D, high resolution, non-dizziness, real pictures and true colours.', 'sortorder' => '689', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '801', 'article_category_id' => '34', 'title' => 'Simrik Air’s Fleet Expansion Plan', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <img align="left" alt="" height="120" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/simrikAir.jpg" style="margin:0 10px 10px 0;padding:5px;" width="227" />The private airline company, Simrik Air has announced to expand its fleet of choppers to six within two years. “We want to develop our company as a ‘rescue hub’ worldwide,” said Capt Rameshwor Thapa, Executive Chairman of Simrik Air. The company is set to sell the two existing BK-117 helicopters and bring in new six-seat small helicopters. “We have been providing the best chopper services to the major tourism destinations and it makes us the first proud airline, outside the West, to boast such helicopters in the fleet,” Thapa said. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'The private airline company, Simrik Air has announced to expand its fleet of choppers to six within two years. “We want to develop our company as a ‘rescue hub’ worldwide,” said Capt Rameshwor Thapa, Executive Chairman of Simrik Air.', 'sortorder' => '688', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '800', 'article_category_id' => '34', 'title' => 'Namaste To Fly Domestic Sky In 3 Months', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> Namaste Air, a newly licensed domestic airline, is making preparations to start flying on the domestic routes within three months. The company received the Air Operator’s Certificate (AOC) towards the end of 2012. AOC is the go-ahead document from the Civil Aviation Authority of Nepal (CAAN).</p> <p style="text-align: justify;"> According to Raju KC (Khatri), Executive Chairman of the company, internal preparations are underway to start flights at the earliest. “Currently we are doing the groundwork to commence flights with two 78-seater ATR-72,” he said.</p> <p style="text-align: justify;"> Namaste Air is also speeding up its internal infrastructure development and training pilots and co-pilots. According to KC, the company is collaborating with an American company named Pentagon Capital to bring two ATR aircraft at the first stage. He said his company has received CAAN’s permission to bring the craft and has already sent US $ 60,000 to the supplier of the craft a month ago. </p> <p style="text-align: justify;"> KC also claimed that the company is to import airplanes of the latest model that no Nepali Airline possesses so far. According to him, the model is 2007 and the craft has flown for just about 5 years. Initially, two airplanes will be imported and then after 2-3 months other two 42-seater ATR-42 will be purchased. </p> <p style="text-align: justify;"> Namaste Air has said that it will bring the airplanes on lease but plans to acquire the full ownership soon. </p> <p style="text-align: justify;"> The company has permission to operate flights to eight trunk routes of Nepal—Pokhara, Biratnagar, Chandragadhi, Nepalgunj, Kathmandu, Tumlingtar and Dhangadhi from its base in Bhairahawa. “We will compete with the airlines that are currently operating in Nepal,” said KC. According to the existing rules, a company seeking to start an airline service has to have a paid-up capital of Rs150 million and furnish a bank guarantee worth Rs 200,000. Namaste Air will have a challenge to compete with major airlines such as Buddha Air and Yeti Air that have been flying on the trunk routes. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'The company is to import airplanes of the latest model that no Nepali Airline possesses so far. Initially, two airplanes will be imported and then after 2-3 months other two 42-seater ATR-42 will be purchased', 'sortorder' => '687', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '799', 'article_category_id' => '34', 'title' => 'Int’l Airlines Can Now Operate 14 More Flights A Week', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> The Ministry of Tourism and Civil Aviation (MoTCA) has allowed 14 more international flights a week to each of the international airlines currently providing their service in Nepal. According to Suresh Acharya, Under Secretary at MoTCA, although they were bound by the Air Service Agreement (ASA) in case of seat capacity, they were not allowed to increase flight numbers. He said “This type of permission is temporary and is valid until the review of the ASA.” International airlines serving in Nepal will be able to add more flights from 1st January 2013. Previously, more flight permission was given during Lumbini Visit Year 2012 and Nepal Tourism Year 2011. The 2012-permission to 10-more-flights-a-week expired on 31st December 2012. </p> <p style="text-align: justify;"> The permission has been given to ease the international airlines operational in Nepal for New Year 2013. The airlines of 16 countries that are providing their service in Nepal at present will benefit from this decision. MoTCA had given additional flight permissions in 2007 and 2008 as well. Though 32 airlines from 16 countries have received the permission to operate international flights to and from Nepal, only 29 are in service at present. Airlines from countries like the UAE, China, Pakistan, Australia, Bhutan, Saudi Arabia, UK, Russia, Japan etc will benefit from the permission. </p> <div> </div>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'International airlines serving in Nepal will be able to add more flights from 1st January 2013. Previously, more flight permission was given during Lumbini Visit Year 2012 and Nepal Tourism Year 2011.', 'sortorder' => '686', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '798', 'article_category_id' => '34', 'title' => 'Surya Nepal Announced Entrepreneurship Award 2012', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> Surya Nepal Pvt Ltd awarded the Asha Social Entrepreneurship Award (SNASEA) to 12 Nepali entrepreneurs who created value for the ‘People, Planet and Profit’ on December 18, 2012. It awarded five industrialists; Shanti Shakya Dolma of Kakani Himalayan Natural Dyes, Chiranjeevi Poudel of Seeing Hands Clinic, Dr Bishal Dhakal of Health at Home Private Limited (HHPL), Prachanda Shakya of Nepal Traditional Handicraft Training Centre and Jasmaya Pun of Hampaal Allo Tatha Kapada Bunai Udhyog in the ‘Hidden Heroes’ category. These five winners will each get a package which includes cash prize from Surya Nepal Private Limited along with the opportunity of networking through ChangeFusion Nepal. Similarly in the ‘Agents of Change’ category, it awarded Govinda Ghimire of Alternative Herbal Pvt Ltd, Tara Baskota Adhikari of Shangri-La Agro World and Som Prasad Gauchan of Everest Tea Estate Pvt Ltd. Likewise, SNASEA 2012’s additional recognition - ‘NBI Agent of Change’ awarded to Himalayan Naturals Pvt Ltd, Lotus Holdings Pvt Ltd, Women Support Saving and Credit Cooperative Society Ltd and Brihat Investments Pvt Ltd for businesses that support startups, assist enterprise development and promote the culture of entrepreneurship in Nepal. According to Surya Nepal, All the winners were selected after an intense process of evaluation amongst 84 applicants.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Surya Nepal Pvt Ltd awarded the Asha Social Entrepreneurship Award (SNASEA) to 12 Nepali entrepreneurs who created value for the ‘People, Planet and Profit’ on December 18, 2012. It awarded five industrialists; Shanti Shakya Dolma of Kakani Himalayan Natural Dyes, Chiranjeevi Poudel of Seeing Hands Clinic, Dr Bishal Dhakal of Health at Home Private Limited (HHPL), Prachanda Shakya of Nepal Traditional Handicraft Training Centre and Jasmaya Pun of Hampaal Allo Tatha Kapada Bunai Udhyog in the ‘Hidden Heroes’ category.', 'sortorder' => '685', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '797', 'article_category_id' => '34', 'title' => 'EBL Appoints Sadichha Shrestha As Brand Ambassador', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <img align="left" alt="" height="215" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/everestBank.jpg" style="margin:0 10px 10px 0; padding:5px;" width="250" /></p> <p style="text-align: justify;"> Everest Bank Ltd (EBL) has appointed Miss Nepal 2010 Sadichha Shrestha as the Brand Ambassador to promote its brand, products and services. The bank has also launched a new deposit product called ‘Sadichha Deposit’ targeting young people. Parents, too, can open the account in the name of their children. According to EBL, this is the recurring type of deposit in which the children are given 0.50 per cent additional interest than the normal published rate. Besides, for every account, the bank will be providing Rs 5 in order to create a fund for the helpless and needy. Every year on EBL’s annual day function, the fund will be donated to orphanages, schools, child activists etc.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Everest Bank Ltd (EBL) has appointed Miss Nepal 2010 Sadichha Shrestha as the Brand Ambassador to promote its brand, products and services. The bank has also launched a new deposit product called ‘Sadichha Deposit’ targeting young people.', 'sortorder' => '684', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '796', 'article_category_id' => '34', 'title' => 'Chinese Investors Meet FNCCI Team', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> A visiting business delegation of Chinese investors has shown interest to invest in Nepal. In a meeting with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the visiting delegation held talks on bilateral trade relationship and on possible Chinese investment in sectors such as tourism, infrastructure development, hydropower, minerals and agriculture. FNCCI’s Senior Vice-President Bhaskar Raj Rajkarnikar led the FNCCI team while the Vice-President of China Council for Promotion of International Trade (CCPIT), Gaungdong Luo Bingzhi, led the Chinese delegation in the meeting. The meeting further discussed the possibilities and ways to lower Nepal’s trade deficit with China. FNCCI decided to utilize the customs duty waiver given by the Chinese government on various 4,721 Nepali goods. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'A visiting business delegation of Chinese investors has shown interest to invest in Nepal. In a meeting with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the visiting delegation held talks on bilateral trade relationship and on possible Chinese investment in sectors such as tourism, infrastructure development, hydropower, minerals and agriculture.', 'sortorder' => '683', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '809', 'article_category_id' => '42', 'title' => 'Above Three Years’ High', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size:16px;">Above Three Years’ High</span></strong></p> <p> <span style="color:#72d1fe;"><span style="font-size: 12px;"><b>(Review for 25 November to 24 December, 2012)</b></span></span></p> <p> <span style="font-size:12px;"><strong>By Bikram Chitrakar</strong></span></p> <p style="text-align: justify;"> <img align="right" alt="" height="396" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/sectorwise_distribution.jpg" style="margin:0 0 0 10px;" width="321" />December 2012 saw Nepal’s stock market reach nearly three years’ high and the bull run is continuing also in January 2013. The benchmark Nepse index stretched 28.31 points or 5.39 percent during the review period between November 25 and December 24 to close at the session’s high of 525.67 while the session’s low was on December 3 with 481.94. The previous high was at 524.19 recorded on 18 January, 2010. </p> <p style="text-align: justify;"> Fall in the banking interest rate and the liberal attitude of banks in extending loans for the purchase of shares from the secondary market have contributed to pull the investors toward the secondary market. The significant growth in the turnover shows the growth in the number of investors in the market.</p> <p style="text-align: justify;"> One important development of the month was New Fund Offer (NFO) by Siddhartha Capital. The scheme, named Siddhartha Investment Growth Scheme-I, is worth Rs 400 million with 5 years maturity. Another similar development was the issuance of IPO by Civil Bank; the bank floated eight million units of general shares. Both these offers in the primary market were lapped up by the investors. Still the secondary market continued its upward journey providing further proof to both of the claims of the analysts that the market is getting new investors and that the existing investors have regained their optimism. </p> <p style="text-align: justify;"> The recent acceleration has been underpinned by the same fundamentals that govern the sentiments of Nepali investors. Timely settlement of the present political chaos will certainly drive the market higher irrespective of the resistance that can be expected at this level. </p> <p style="text-align: justify;"> <strong>Performance by Sector</strong></p> <p style="text-align: justify;"> The manufacturing sector, led by Unilever Nepal, posted a whopping gain of 118.98 points or 14.03 per cent to reach 847.94. The commercial bank sector that holds a very high share in the market added 50.36 points or 9.82 per cent to settle at 513.05. Similarly, the development bank sector accelerated 11.40 points to 263.29 while the hydropower sector surged 3.12 points or 0.30 per cent to rest at 1050.88. However, the hotels sector plummeted 60.73 points or 10.24 per cent to 593.01. Likewise, the insurance sector lost 16.96 points and the ‘others’ sector 12.92 points to settle at 739.81 and 774.22, respectively. The finance sector descended 8.04 points or 3.14 per cent to settle at 255.87.</p> <p style="text-align: justify;"> The sensitive index that measures the performance of 133 blue chip scrip at the secondary market moved 9.42 points or 6.81 per cent up to 138.39 while the float index calculated on the basis of real transaction escalated 0.59 points or 1.65 per cent to 35.84. A total turnover of Rs 2,391,327,495 was realized during the review period through the trading of 6,746,527 units of share traded via 29,146 transactions.</p> <p style="text-align: justify;"> The accompanying figure depicts the sector-wise distribution based on the total volume of trade. As usual, the commercial bank sector grasped 77.65 per cent of the total volume of trade. The hydropower sector occupied 8.61 per cent, insurance sector 4.27 per cent and the remaining sectors made up for the rest.</p> <p style="text-align: justify;"> Technically, the Simple Moving Average (SMA) in both long term and short term is dominated by the Nepse. Both, 200 days SMA and 30 days SMA are outcast with straight ascending of the index, while testing of resistance level is intact at this level.</p> <p style="text-align: justify;"> <img align="" alt="" height="375" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/market_trend.jpg" style="margin:5px;" width="387" /><img align="" alt="" height="378" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/movement_in_indices.jpg" style="margin:5px;" width="362" /></p> <p style="text-align: justify;"> <strong>Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.</strong></p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Fall in the banking interest rate and the liberal attitude of banks in extending loans for the purchase of shares from the secondary market have contributed to pull the investors toward the secondary market.', 'sortorder' => '697', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '812', 'article_category_id' => '41', 'title' => 'Secured Business Of Nepali Paper', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Sushila Budhathoki</strong></p> <p style="text-align: justify;"> <img align="left" alt="" height="391" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/lokta_product(1).jpg" style="margin:0 10px 0 0;" width="200" />The Nepali paper industry is one such industry in the country that has withstood the ongoing political turbulence to run in profit. This is also reflected in the fact that handmade Nepali paper products produced by this industry contribute around 10 per cent to Nepal’s total export and this contribution is growing by 7 to 8 per cent annually. Bikash Ratna Dhakhwa, President of the Federation of Handicraft Association of Nepal (FHAN) is quite happy with the growth of the Nepali paper business even during such harsh times. He says, “Had there been a good environment for industries, politically as well as economically, this sector would have seen a massive growth.” </p> <p style="text-align: justify;"> The ever-growing market demand of the Nepali paper or Lokta Kagaj, as it is locally known, is the main reason behind the steady performance of the Nepali paper industry. Lokta has been successful in attracting many craft lovers nationally and internationally. Products made of Lokta are a major attraction at every handicraft trade fair. Dhakhwa says, “We have been organizing numerous handicraft fairs to promote the business of these products. We are now organizing the 10th handicraft fair which would definitely be fruitful to the Nepali paper business among other handicraft businesses.” According to FHAN, the export of paper products increased by 32 per cent to Rs 410 million in FY 2011/12 from Rs 310 million in 2010/11. </p> <p style="text-align: justify;"> Once replaced by the massive import of cheap papers from China, the Lokta has regained its lost sheen because of its quality and uniqueness. Having seen the prospects, industrialist like Bishnu Das Dangol, former Managing Director of Bhaktapur Craft Paper Ltd- the first business enterprise to produce and export Nepali handmade paper - are being lured into the business again. Dangol has joined the company back after a long gap as its Executive Director. “I have entered this business again because it involves people from the grass-roots to those at the high level. The paper industry can become the major industry to eradicate poverty in our country,” he says. </p> <p style="text-align: justify;"> According to Kiran Kumar Dangol, President of HANDPASS (Nepal Handmade Paper Association) there are around 300 companies involved in the Lokta business and together they have employed around 50,000 people. He says, “Lokta is a big business today. We export Lokta products worth around Rs 40 to 50 million yearly. Europe accounts for 60 per cent of our export while the USA for around the remaining 40 per cent.” </p> <p style="text-align: justify;"> Benu Das Shrestha who is originally from Sindupalchok district has been making and selling the Lokta paper for the past two decades and is inspiration to many. He says, “Many of my friends have followed in my footsteps. Lokta is a low-cost business that we can afford to run and can start it with the help of just around 10 people.” It was more than 20 years ago that he started his Lokta factory, Jugal Nepali Haate Kagaj Udhyog, at Jalbire, his birthplace in Sindhupalchok. Today, Shrestha earns around Rs 60,000 a month and is also hopeful about expanding his business in the coming years.</p> <p style="text-align: justify;"> For industrialists like Satyalal Shrestha, who has spent 25 years in the Lokta business and is the owner of Bagmati Paper Company, it is a business of creativity. In the beginning, he used to produce the plain Lokta paper. But he soon found new ways to diversify his business and today he produces several creative paper products. “We design various items according to the needs of the customers and we often consult with them before making new products,” he shares. </p> <p style="text-align: justify;"> Shrestha produces a range of products from wall hangings, photo-frames, albums, mirrors, and paper vases to the extra-ordinarily made paper jewelries. His creativity is seen in the marvelous set of paper tables which are perfect even for dining. However, he has no showroom in Nepal and anyone wanting to buy his products has to visit his factory and give an order in advance. The average annual turnover of his company is around Rs. 20 million.</p> <p style="text-align: justify;"> The Lokta paper has a long history in Nepali paper usage. Although Lokta is being produced in Nepal from as early as the twelfth century, it got international recognition when the UNICEF started to buy and use it for important documents. Known for its long lasting quality, the handmade Lokta has been traditionally used for official purpose for ages. But today it is used for many purposes. The Nepali paper used for the legal and government documents is produced with a Japanese technology in A4 size. This paper is made from not only the bark of the Lokta tree but also other plants like Argeli (Edgeworthia gardeneri), babiyo (Eulaliopsis binata), hay, leaf of cardamoms etc. </p> <p style="text-align: justify;"> Many farmers have contributed to run the Lokta business and most of them are working at the community level enterprises in association with different groups of collectors. They produce the Lokta paper according to the demand of the buyers from different paper industries. The paper can be used directly after buying from them. However, processes like shorting, coloring, processing, etc at the paper factories further enhances the quality of the Lokta paper. Dangol says, “Unlike other products, the Lokta paper is 100 per cent handmade. All the raw materials are produced locally.” </p> <p style="text-align: justify;"> Lokta products are of two categories- pure and mixed ones. In the market, one sheet of pure Lokta paper weighing five gram costs around Rs 6 while the other paper with same weight made with mixed products cost around Rs 5. Similarly, a Lokta sheet weighing 20 gms costs Rs 18 while the mixed paper in the same category costs Rs 16. Lokta products are available as sheets, note-books, photo albums and picture frames, writing sets, and gift- boxes, among other products such as carry bags, calendars, file-folders, lampshades, greeting cards, wall papers, photo frames, art paper, picture albums, gift sets, postcards, paper jewelry, jewelry boxes, telephone diaries, etc. The price for these products differs with the size, weight and quality.</p> <p style="text-align: justify;"> The Lokta plant is found in 56 districts of the country. According to the FNCCI’s document ‘Business Promotion Strategy (2012 – 2016)’, Lokta is listed among the 20 species of Non Timber Forest Products (NTFPs) including some exotic species like Mentha, chamomile, lemongrass, Dalchini, etc. The Western Mid Hilly regions and the hilly district of Gandaki and Dhaulagiri Zones - Baglung, Myagdi, Parbat, Kaski, Lamjung, Syangja, and Tanahu - are the main locations of the Lokta plant. Usually, the Lokta plant is harvested when it is mature enough. </p> <p style="text-align: justify;"> <strong>Brand Nepal </strong></p> <p style="text-align: justify;"> Lokta paper has been identified among the 19 major exportable goods of the country. It has become a brand name in itself and is known as a quality paper all over the world. Today, Lokta paper’s international market is far bigger than its local market. According to the traders, Lokta products have a huge market in countries like the USA, Canada and many European countries like Germany, the United Kingdom, France, Italy, Denmark and lately, Japan in Asia.“Due to the unique feature and quality, there is a high demand for the Nepali paper in the international market,” Shares Bisnu Das Dangol. </p> <p style="text-align: justify;"> With its attractive texture, durability, strength and resistance to insects, Lokta products are popular even in the digital age and this is an amazing truth for the people involved in this business. Unlike the previous Lokta papers, the Lokta papers today are well-finished products available in a range of colors, textures, patterns and prints. They can be customized for different logos, graphics, colors, designs and paper weight. The success of Nepali industrialists in developing a variety of Lokta products has been a plus point for this business. Satyalal says, “The customers are demanding more and more varieties of Lokta products.”</p> <p style="text-align: justify;"> Bisnu Das Shares, “If we can market our products aggressively, all national and international organizations will start using the Nepali paper for their important documents in no time.” The paper is among the costly papers available in the international market. The demand for Lokta-made gift items like cards for different occasions such as weddings, birthdays etc is high in the Nepali market while Lokta-made notebooks, boxes, wrapping- papers, different kinds of printed papers are sought after internationally. Recently, Lokta has found popularity in the making of fashion accessories as well. </p> <p style="text-align: justify;"> <strong>Future in paper</strong></p> <p style="text-align: justify;"> <img align="right" alt="" height="339" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/lokta_product(2).jpg" style="margin:0 0 0 10px;" width="454" />Due to the growing demand, the need for conserving and promoting Lokta and producing high quality papers has emerged at the same time. However, the lack of sustainable harvesting and cultivation process has put the raw materials used for producing the Lokta paper at the risk of extinction. Saraswati Rai, Operation Manager at Himalayan Bio-Trade (HBTL) - a community-based enterprise - is concerned about the negligence in the preservation of the Lokta plant. According to her, it would be difficult to keep up the quality of the Lokta paper in the long run in the absence of concerted efforts to preserve the Lokta plant. “The Lokta products are not being produced in a sustainable way.” The Lokta plant has a unique ability to regenerate and reach maturity within four to five years after the first cutting. But it demands skilled manpower for its harvesting. This ability should also make the preservation of the Lokta plant comparatively easy. Lokta can generate much more employment at the grassroots even if the farmers take Lokta growing as a seasonal business. Rai says, “If we have trained collectors for harvesting Lokta and if we can maintain the quality, the business has a very bright future ahead.” HBTL buys papers made from Lokta or argeli from the farmers. Though Rai shares that the company’s overall production has declined in comparison to the previous years, she is confident of the everlasting market of the Nepali Paper. HBTL’s average annual turnover is around Rs 30 million of which its paper business constitutes Rs 20 million. </p> <p style="text-align: justify;"> If given due importance, the Lokta paper stands fairly high chances getting much bigger and better national and international markets. “International buyers are looking for unique and valuable products like the Nepali paper which is basically exported as handicraft products,” shares Bisnu Das. </p> <p style="text-align: justify;"> According to the traders, though the existing Lokta products are good enough and doing very well, there is an urgent need to develop even better and advanced products. Many organizations are facilitating the designers who could design Lokta products to meet the international demand. They are also providing training to the new generation people who are attracted to paper production, designing and marketing. Some of the organizations and Lokta collectors have even started conserving the Lokta plants. The traders involved in the Lokta business have started getting cash incentives, four and a half per cent re-financing and also export incentives. So, if you are planning to venture into a long-term business in Nepal that has withstood the tests of time, then the Lokta business could be the right place to invest in. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-23', 'keywords' => '', 'description' => 'The ever-growing market demand of the Nepali paper or Lokta Kagaj, as it is locally known, is the main reason behind the steady performance of the Nepali paper industry.', 'sortorder' => '696', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '808', 'article_category_id' => '39', 'title' => 'Small Is Mega For Mega Bank', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> Big things come in small packages for Mega Bank Nepal Limited. When the bank was established around two years back, its vision to be a bank for every Nepali grabbed the attention. Driven by the slogan ‘Halo to Hydro’ (Plough to Power), the bank started its journey as a commercial bank with 1219 promoters from 63 of the country’s 75 districts. </p> <p style="text-align: justify;"> Financial inclusion is one of the major objectives and vision of the bank which strives to become a truly people’s bank. This objective also provides the bank with a route to profitability. It is such simple and small visions and objectives which make the guiding policy of Mega Bank. </p> <p style="text-align: justify;"> <img align="left" alt="" height="188" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/anilShah.jpg" style="text-align: start; margin: 20px 10px 10px 0px;" width="149" /></p> <div> </div> <div> <h3> <strong>‘We will make a path through the jungle, not through a six lane highway and show others that there is a business there as well’</strong></h3> <p> <strong><span style="font-size: 14px;"><br /> </span></strong></p> <address> <strong>Anil Shah</strong></address> <address> <strong>Chief Executive Officer </strong></address> <address> <strong>Mega Bank Nepal Limited </strong></address> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> <img align="left" alt="" height="203" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/mega_counter.jpg" style="text-align: justify; margin: 15px 10px 10px 0px;" width="350" /></div> <p style="text-align: justify;"> According to Anil Shah, Chief Executive Officer of Mega Bank, the Small and medium enterprises (SMEs) segment is a priority for the bank. “The SME segment is one of the good opportunities for the bank. It is in fact the best investment sector for any bank. Mega Bank has continuously tried to reach out to small enterprises and individual clients,” he says. Similarly, micro credit and rural lending, too, are at the top of the bank’s priority list. “We want to invest 40 per cent out of our total lending of Rs 13 billion in the SMEs,” Shah adds. </p> <p style="text-align: justify;"> Shah believes that SMEs are the backbone of Nepal’s economy as almost every village and every street of every town has small shops. He thinks that these shops need to be supported by the banking system. According to him, Mega Bank dreams to create numerous Bhatbhatenis – an epitome of SME success - across the country. That’s why the bank has focused on SMEs right from its commencement. “We have a branch which has lent micro credits to around 20 thousand sugarcane farmers. They need fertilizers. So, our corporate customers import fertilizers and sell it to these farmers. The farmers are able to pay them by taking micro loans. So, we have a value chain with SMEs in the middle,” Shah explains.</p> <p style="text-align: justify;"> Although it is mandatory for a commercial bank to issue initial public offerings (IPO), Mega Bank perceives this provision as a means to be more financially inclusive. Shah opines that it is always better when wealth is distributed among people rather than being concentrated among a handful of corporate promoters or big joint ventures outside the country. “Our vision is to issue IPO to as many Nepalis as possible and make them our shareholders. That is part of our aim to spread wealth,” he shares. </p> <p style="text-align: justify;"> The bank is planning to issue its IPO worth Rs 700 million in the third quarter of the current fiscal year. This will increase the bank’s paid-up capital to Rs 2.3 billion from Rs 1.63 billion at present. Around 70 per cent of the bank’s stakes are owned by the promoters while the remaining 30 per cent with the general public. Interestingly, Mega Bank’s promoters, too, are the general public, unlike in any other commercial bank where the ownership remains with a handful of corporate houses or joint ventures. According to Shah, the bank has 1291 promoters from 63 districts and they have invested from Rs 1 million to Rs 10 million in Mega Bank. </p> <p style="text-align: justify;"> “The wealth that the bank creates goes to Nepali families spread across the country,” says Shah. That was something that inspired Shah to be a part of the bank since its initial days. He believes that Nepal should have a banking model that is original – not copied from north, south, east or west. “It has to be intrinsically Nepali. Let the world copy it,” he says, adding that the ‘Mega Model’ is essentially a start towards that journey. </p> <p style="text-align: justify;"> The Mega Model is a different attempt of the bank to serve the entire economic pyramid. This pyramid, according to Shah, has corporate and high class banking clients on the top and SMEs in the middle and general customers – rural farmers, SME owners and other micro credit seekers - at the base. The bank has a separate unit named ‘Mega Micro’ that reaches out to the villages to serve the ‘Halo’ level. He says, “This is neither a Bangladeshi model nor a private bank model. When we make this successful, this is the model which is going to be followed regionally as well as globally.”</p> <p> <img align="right" alt="" height="211" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/mega_interior.jpg" style="margin: 0px 0px 0px 10px;" width="350" /></p> <p style="text-align: justify;"> Within the first two years its commencement, the bank has earned over 87,000 customers who have deposited more than Rs 11 billion there. The bank’s total investment is around Rs 10.5 billion. Shah is quite content with the bank’s achievements in its initial two years.“In these two years, Mega Bank has reached where we wanted it to. However, the foundation is still being laid and there is a long way to go,” he says, adding that it would take three to five more years before the bank has a well-built foundation. “In 100 to 150 years from now, people will be happy to be a part of this bank. Banking is not a short-term industry. The decisions that I as a CEO or the board takes now must add long-term values to the bank. Decisions should be taken with the at least the next 10 or 20 years in mind,” he explains.</p> <p style="text-align: justify;"> One of the greatest achievements of the bank in its first two years is the creation of a well known brand name. Shah who has helped create larger-than-life brand images in the past has proved his mettle at Mega Bank as well. “People should be forthcoming to say that they want to be part of this bank either - be it as a customer, staff or a shareholder,” says he, “An excellent brand image can do that and that is our destination. Everything we have done in the first two years is a step towards that destination.” </p> <p style="text-align: justify;"> Shah gives credit to the management team which the bank calls the ‘Mega Team’ and the promoters’ vision for everything the bank has achieved till date. He says that the bank has got the team that believes in the ‘Mega Model’. “I don’t claim that we have the best banking team in the country, but for our vision, there isn’t a better team,” boasts Shah. The Mega Team has 429 employees. The bank’s working environment is guided by the philosophy of ‘professionalism with a personal touch’. He believes that the working environment has to be comfortable and friendly along with the respect for organisational hierarchy. “Our work culture is finally translated into the customer services. We offer the best professional service with a personal touch,” claims Shah.</p> <p style="text-align: justify;"> The bank’s management mantra is people, people and people. “It is all about leading people and finding out their strengths. Know what their strengths are and give them roles accordingly,” says Shah. He adds that the bank always gives priority to qualified people. Another management mantra is time management. The bank keeps its employees always prepared to accept any challenge or changes that may come out of the blue.</p> <p style="text-align: justify;"> Any organisation is constantly surrounded by numerous seen and unseen challenges and forces. Shah states, “Mega Bank and Mega Team do not use the current political environment as an excuse.” That is one of the reasons why the bank brought in the concept of branchless banking in a country like Nepal where it’s not possible for any bank to have a branch in every village. However Mega Bank wants to have its services available in every village through branchless banking. He explains, “A person working in Doha can send money to his/her family in Dolpa with just a cost of around Rs 300 in less than three minutes. Why can’t a bank situated in Kathmandu provide its financial services to the people in remote Nepal?” </p> <p style="text-align: justify;"> The bank began its branchless services last year and is now planning to expand them to across the country this year. As of now, the bank has 28 branches and offers branchless banking from 16 points and is planning to add 30 more such pints this year. “We want to have hundreds of digital branches in the future because having physical presence in the urban areas alone won’t help the vision of Halo to Hydro.”</p> <p style="text-align: justify;"> Rural banking is one of the top agenda of Mega Bank. At a time when a majority of commercial banks are based in the urban areas, Mega envisioned being a partner in rural banking. “We will make a path through the jungle, not through a six lane highway and show others that there is a business there as well. Once we do that, other financial institutions will follow us and together we will build a six-lane highway,” says Shah. </p> <p style="text-align: justify;"> <strong><strong><span style="font-size:14px;">SWOT Analysis</span></strong></strong></p> <p style="text-align: justify;"> <strong><strong>Strengths: </strong></strong></p> <ul> <li style="text-align: justify;"> <strong>1291 Promoters</strong></li> <li style="text-align: justify;"> <strong>Staff </strong></li> <li style="text-align: justify;"> <strong>The vision of Halo to Hydro </strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Weakness:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>Young team that is relatively new to banking</strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Opportunities:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>Rural areas</strong></li> <li style="text-align: justify;"> <strong>SMEs</strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Threats:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>External environment</strong></li> <li style="text-align: justify;"> <strong>Political environment</strong></li> </ul>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Financial inclusion is one of the major objectives and vision of the bank which strives to become a truly people’s bank. This objective also provides the bank with a route to profitability.', 'sortorder' => '695', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '807', 'article_category_id' => '60', 'title' => 'Etihad Airways Flew 10.29 Million Passengers In 2012', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> <img alt="" height="108" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/etihadAirways.jpg" style="margin:0 0 10px 0;" width="233" /></p> <p style="text-align: justify;"> Etihad Airways has surpassed its target of carrying 10 million passengers in 2012. The airline carried a total of 10.29 million passengers in the year - a 22 per cent increase from 8.41 million passengers in 2011. The airline has a global network that covers 87 of its own passenger and cargo destinations, and 245 code-share destinations.</p> <p style="text-align: justify;"> According to the official statement of the airline, passenger growth for Etihad Airways is mirrored by its equity partners. By the end of 2012, airberlin carried around 33.4 million passengers, Virgin Australia 19.5 million passengers, Aer Lingus nearly 11 million passengers, and Air Seychelles 241,000 passengers.Etihad Airways and its equity partners collectively carried more than 74 million passengers in 2012, with cooperation between the five airlines greatly contributing to passenger growth.</p> <p style="text-align: justify;"> James Hogan, Etihad Airways’ President and Chief Executive Officer, said, “Etihad Airways has achieved significant expansion in 2012 and therefore it’s very satisfying to pass our target of flying more than 10 million passengers during a year for the first time.Etihad Airways’ busiest route was Bangkok with the airline carrying nearly 691,000 passengers to the Thai capital during the year, a 38 per cent increase on 2011.This was closely followed by Manila, Heathrow and Jeddah. Sydney, Paris, Frankfurt, Manchester, Doha and Dublin complete the list of the 10 most popular routes of the airline.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Etihad Airways has surpassed its target of carrying 10 million passengers in 2012. The airline carried a total of 10.29 million passengers in the year - a 22 per cent increase from 8.41 million passengers in 2011. The airline has a global network that covers 87 of its own passenger and cargo destinations, and 245 code-share destinations.', 'sortorder' => '694', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '806', 'article_category_id' => '60', 'title' => 'Qatar Wins CAAN Award', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" height="218" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/qatarAirways.jpg" style="text-align: justify;" width="406" /></p> <p style="text-align: justify;"> Qatar Airways won the CAAN Award for transporting highest number of international passengers to Nepal. Suneer PC, representative of the airline, received the award from Posta Bahadur Bogati, Minister for Tourism and Civil Aviation. CAAN handed over the award in the last week of December, 2012.</p> <p style="text-align: justify;"> In Mid-January, Qatar Airways launched its inaugural long-haul Boeing 787 Dreamliner service on the Doha –London-Heathrow route, becoming the first airline to operate regular scheduled flights with the state-of-the art aircraft to and from the UK. According to the airline, passengers flying from Nepal can also experience the new 787 on connecting flights to selected destinations.</p> <p style="text-align: justify;"> Similarly, the airline also announced direct scheduled flights from Athens to New York beginning mid-2013. Chief Executive Officer Akbar Al Baker made the announcement in Athens on the occasion of the airline’s eighth year in Greece and to commemorate the carrier’s increasingly strong operations in the country.</p> <p style="text-align: justify;"> Qatar Airways on December 5 launched scheduled flights to Poland, its latest entry into Central Eastern Europe and 12th new route of the year.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Qatar Airways won the CAAN Award for transporting highest number of international passengers to Nepal. Suneer PC, representative of the airline, received the award from Posta Bahadur Bogati, Minister for Tourism and Civil Aviation. CAAN handed over the award in the last week of December, 2012.', 'sortorder' => '693', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '805', 'article_category_id' => '56', 'title' => 'Corporate', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <strong>Himal Tea Industries Pvt Ltd</strong>, an exporter and specialty manufacturer, blender and packager of Nepali tea has launched its Rakura Heavenly Classics brand of tea. According to the company, the tea is packed in the nation’s first double chambered tea bags. Rakura tea is available in three flavours, namely Green, Black and CTC. The tea features odourless rapid release filter paper, surgical grade antimicrobial aluminum wires, unbleached pure cotton thread and food grade tags made from natural fibres, claims the company.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> The <strong>British College</strong> situated at Trade Tower, Thapathali, has announced the signing of a Memorandum of Understanding between the College and two companies located in the premises of the Trade Tower, namely ER Sigdel and Associates, Chartered Accountants and the Trade Tower Business Centre. Under the agreement, students from the College will have the opportunity to pursue internships with these companies as part of their UK University degree courses.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> <strong>Laxmi Bank</strong> has introduced a micro credit initiative in Tansen Municipality in partnership with Lumanti, an NGO working for the alleviation of urban poverty in Nepal. According to the Bank, this home loan programme aims to benefit at least 100 low-income families in the municipality. The bank has entered into an agreement with Lumanti and Tansen Municipality to extend individuals loans up to Rs 150,000 each under this programme. Under this credit programme, borrowers can repay the loans in easy monthly installments over a period of five years.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Himal Tea Industries Pvt Ltd, an exporter and specialty manufacturer, blender and packager of Nepali tea has launched its Rakura Heavenly Classics brand of tea. According to the company, the tea is packed in the nation’s first double chambered tea bags.', 'sortorder' => '692', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '804', 'article_category_id' => '56', 'title' => 'Automobiles', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Anna Automobiles Pvt Ltd has launched Piaggio Robinson, a 150 cc bike in the market. Piaggio is an Italian motorcycle and scooter manufacturer internationally recognized for its technology, craftmanship, design and efficiency. According to the company, the new bike is inspired by the racing spirit of Aprilia. The features of Robinson include front disk brakes, 5-speed transmission, digital meter with gear indicator, an 18-litre tank, sporty LED signal and tail lamps and a hydraulic rear shock absorber which can be adjusted as needed. The bike is priced at Rs 209,000, and the company is giving a discount of Rs 10,000 as the introductory offer.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Anna Automobiles Pvt Ltd has launched Piaggio Robinson, a 150 cc bike in the market. Piaggio is an Italian motorcycle and scooter manufacturer internationally recognized for its technology, craftmanship, design and efficiency.', 'sortorder' => '691', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '803', 'article_category_id' => '56', 'title' => 'FMCG', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Jaya Confectionary Pvt Ltd has introduced a new campaign named ‘Fresho Breath’ for its Fresho Menthalyptus candy. According to the company, Fresho Menthalyptus is a mint flavoured candy that has a mint ingredient which helps purify the breath and keeps the mouth fresh. The campaign uses multimedia at the national level to convey its message, primarily targeting the youth, especially teenagers. The hard boiled confectionery is available at all retail outlets across the nation at the price of Re1 per unit.</p> <p> Dabur Nepal has launched Banana Strawberry and Green Apple Punch, two new variants in its Real Activ Fiber+ range of juices. According to the company, Real Activ Fiber Banana Strawberry is an exquisite blend of strawberry, banana and other fruits that gives the experience of eating a fruit. Similarly, Real Activ Green Apple Punch is a blend of green apples and other fruits handpicked from the best of orchards and packed with the goodness of fiber, claims the company.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Jaya Confectionary Pvt Ltd has introduced a new campaign named ‘Fresho Breath’ for its Fresho Menthalyptus candy. According to the company, Fresho Menthalyptus is a mint flavoured candy that has a mint ingredient which helps purify the breath and keeps the mouth fresh.', 'sortorder' => '690', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '802', 'article_category_id' => '56', 'title' => 'Electronics', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Saurabh Photo International has launched two new models of KONKA LED TV - 701 Series LED TV and 30 Series LED TV in the market. KONKA 701 Series LED TV comes with features like Full HD 3D, IPS Hard Screen and Healthy Non-flickering, Smart Chip with High Brightness Judder-proof, and Full HD1080P, among others. KONKA 701 Series LED TV is available in 47” and 50”sizes in the market. KONKA 30 Series LED TV has features like Perfect Picture and synchronized transfer from 2D to 3D, high resolution, non-dizziness, real pictures and true colours. KONKA 30 Series LED TV is available in 47”size.</p> <p> Canon has launched EOS 6D in the market that it claims to be the world’s lightest full-frame DSLR equipped with a 20.2 megapixel CMOS sensor with precision 11-point AF system. The EOS 6D also offers built-in WiFi and GPS support. Similarly, Canon has also launched three mid- to high-end PowerShot compact cameras namely PowerShot G15, PowerShot S110 and PowerShot SX50 HS.</p> <p> NIYO International Pvt Ltd has started selling Hi-Tech Water Purifier in Nepal. The Indian made water purifier uses the Reverse Osmosis technology to make water drinkable. High-tech is an ISO 9001: 2008 CE registered company. Its products are verified by the Water Quality Association America. The high-tech water purifier costs from Rs. 14,500 to 24,990 and comes with a one year warranty. </p> <p> </p> <p> International Marketing Services, the sole authorized distributor of Samsung Mobile in Nepal, has launched a new phone named Samsung Galaxy Music Duos smartphone. According to the company, the phone comes with enhanced audio features and is available at Rs 16,690. The features of the phone include dual SIM, with 2 SIM ‘Always On’ feature, excellent sound quality with dual SRS speakers and ‘Sound Alive’ feature. It connects to the Internet via WiFi or 3G and operates on Android 4.0 Ice-cream sandwich platform (upgradable to Jellybean). It has an internal 4 GB memory that can be expanded up to 32 GB.</p> <p> Tara International Pvt Ltd has announced the launch of the latest version of its antivirus product, Bitdefender 2013, in the Nepal market. Araghya Sanyal, Bitdefender-South Asia Channel and Sumeru Shrestha, CEO of Tara International, formally launched the antivirus at a function held at Annapurna Hotel. Tara International is the authorized distributor of the products. At the function, a demonstration of the features of the antivirus was made. Bitdefenders products include Antivirus plus 2013, Internet security 2013 and Total security.</p> <p> Him Electronics Pvt Ltd has introduced Himstar Electric Kettle in the market. This electric kettle, according to the company, is manufactured with stainless steel to prevent rusting while its 360 degree cordless control with detachable power base helps to move it according to the need. The kettle comes with a neon indicator that indicates the state of water inside.</p> <p> LG Electronics (LG), a global leader and technology innovator in consumer electronics announced the launch of World’s Narrowest Bezel 3D TV in Nepal. Unveiling its new product line up at a grand event, LG revealed the cutting-edge 3D bezel TV model 55LM9600 that is sized at 1mm (Off) and 4.7mm(On), setting a new world record for the narrowest bezel 3D TV. According to the company, this Smart TV, equipped with the most advanced 3D technology, enables a smoother and more immersive 3D viewing bringing a limitless world of 3D entertainment at the tip of your magic remote.</p> <p> </p> <p> Colors Mobile has launched CDMA phone C1 in the market. According to the company, this CDMA handset is the most affordable mobile handset in its category, and is equipped with numerous features. C1 comes with inbuilt FM radio, 1000 mAH battery, large phone book, big speaker and SMS chat facility. The phone with 1.5” LCD screen also features Bluetooth connectivity. Thecompany is offering a 6-month warranty on the handset and its battery and charger.</p> <p> Colors Mobile has launched Colors Evdo, a CDMA modem in the market. According to the company, the wireless modem is targeted at the internet savvy customers who want an easy access to the Internet. The I/O Interface (USB) Evdo has data speed of 3.1 Mbps in forward link and 1.8Mbps in the backward link. The modem with inner antenna supports R-UIM and has a Micro SD card slot that supports up to 16GB. Apart from these features, this modem also supports Windows XP/2000/Windows 7/Vista/Ubuntu/Mac 6.0. The modem comes with a six-month warranty.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Saurabh Photo International has launched two new models of KONKA LED TV - 701 Series LED TV and 30 Series LED TV in the market. KONKA 701 Series LED TV comes with features like Full HD 3D, IPS Hard Screen and Healthy Non-flickering, Smart Chip with High Brightness Judder-proof, and Full HD1080P, among others. KONKA 701 Series LED TV is available in 47” and 50”sizes in the market. KONKA 30 Series LED TV has features like Perfect Picture and synchronized transfer from 2D to 3D, high resolution, non-dizziness, real pictures and true colours.', 'sortorder' => '689', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '801', 'article_category_id' => '34', 'title' => 'Simrik Air’s Fleet Expansion Plan', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <img align="left" alt="" height="120" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/simrikAir.jpg" style="margin:0 10px 10px 0;padding:5px;" width="227" />The private airline company, Simrik Air has announced to expand its fleet of choppers to six within two years. “We want to develop our company as a ‘rescue hub’ worldwide,” said Capt Rameshwor Thapa, Executive Chairman of Simrik Air. The company is set to sell the two existing BK-117 helicopters and bring in new six-seat small helicopters. “We have been providing the best chopper services to the major tourism destinations and it makes us the first proud airline, outside the West, to boast such helicopters in the fleet,” Thapa said. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'The private airline company, Simrik Air has announced to expand its fleet of choppers to six within two years. “We want to develop our company as a ‘rescue hub’ worldwide,” said Capt Rameshwor Thapa, Executive Chairman of Simrik Air.', 'sortorder' => '688', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '800', 'article_category_id' => '34', 'title' => 'Namaste To Fly Domestic Sky In 3 Months', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> Namaste Air, a newly licensed domestic airline, is making preparations to start flying on the domestic routes within three months. The company received the Air Operator’s Certificate (AOC) towards the end of 2012. AOC is the go-ahead document from the Civil Aviation Authority of Nepal (CAAN).</p> <p style="text-align: justify;"> According to Raju KC (Khatri), Executive Chairman of the company, internal preparations are underway to start flights at the earliest. “Currently we are doing the groundwork to commence flights with two 78-seater ATR-72,” he said.</p> <p style="text-align: justify;"> Namaste Air is also speeding up its internal infrastructure development and training pilots and co-pilots. According to KC, the company is collaborating with an American company named Pentagon Capital to bring two ATR aircraft at the first stage. He said his company has received CAAN’s permission to bring the craft and has already sent US $ 60,000 to the supplier of the craft a month ago. </p> <p style="text-align: justify;"> KC also claimed that the company is to import airplanes of the latest model that no Nepali Airline possesses so far. According to him, the model is 2007 and the craft has flown for just about 5 years. Initially, two airplanes will be imported and then after 2-3 months other two 42-seater ATR-42 will be purchased. </p> <p style="text-align: justify;"> Namaste Air has said that it will bring the airplanes on lease but plans to acquire the full ownership soon. </p> <p style="text-align: justify;"> The company has permission to operate flights to eight trunk routes of Nepal—Pokhara, Biratnagar, Chandragadhi, Nepalgunj, Kathmandu, Tumlingtar and Dhangadhi from its base in Bhairahawa. “We will compete with the airlines that are currently operating in Nepal,” said KC. According to the existing rules, a company seeking to start an airline service has to have a paid-up capital of Rs150 million and furnish a bank guarantee worth Rs 200,000. Namaste Air will have a challenge to compete with major airlines such as Buddha Air and Yeti Air that have been flying on the trunk routes. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'The company is to import airplanes of the latest model that no Nepali Airline possesses so far. Initially, two airplanes will be imported and then after 2-3 months other two 42-seater ATR-42 will be purchased', 'sortorder' => '687', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '799', 'article_category_id' => '34', 'title' => 'Int’l Airlines Can Now Operate 14 More Flights A Week', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> The Ministry of Tourism and Civil Aviation (MoTCA) has allowed 14 more international flights a week to each of the international airlines currently providing their service in Nepal. According to Suresh Acharya, Under Secretary at MoTCA, although they were bound by the Air Service Agreement (ASA) in case of seat capacity, they were not allowed to increase flight numbers. He said “This type of permission is temporary and is valid until the review of the ASA.” International airlines serving in Nepal will be able to add more flights from 1st January 2013. Previously, more flight permission was given during Lumbini Visit Year 2012 and Nepal Tourism Year 2011. The 2012-permission to 10-more-flights-a-week expired on 31st December 2012. </p> <p style="text-align: justify;"> The permission has been given to ease the international airlines operational in Nepal for New Year 2013. The airlines of 16 countries that are providing their service in Nepal at present will benefit from this decision. MoTCA had given additional flight permissions in 2007 and 2008 as well. Though 32 airlines from 16 countries have received the permission to operate international flights to and from Nepal, only 29 are in service at present. Airlines from countries like the UAE, China, Pakistan, Australia, Bhutan, Saudi Arabia, UK, Russia, Japan etc will benefit from the permission. </p> <div> </div>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'International airlines serving in Nepal will be able to add more flights from 1st January 2013. Previously, more flight permission was given during Lumbini Visit Year 2012 and Nepal Tourism Year 2011.', 'sortorder' => '686', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '798', 'article_category_id' => '34', 'title' => 'Surya Nepal Announced Entrepreneurship Award 2012', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> Surya Nepal Pvt Ltd awarded the Asha Social Entrepreneurship Award (SNASEA) to 12 Nepali entrepreneurs who created value for the ‘People, Planet and Profit’ on December 18, 2012. It awarded five industrialists; Shanti Shakya Dolma of Kakani Himalayan Natural Dyes, Chiranjeevi Poudel of Seeing Hands Clinic, Dr Bishal Dhakal of Health at Home Private Limited (HHPL), Prachanda Shakya of Nepal Traditional Handicraft Training Centre and Jasmaya Pun of Hampaal Allo Tatha Kapada Bunai Udhyog in the ‘Hidden Heroes’ category. These five winners will each get a package which includes cash prize from Surya Nepal Private Limited along with the opportunity of networking through ChangeFusion Nepal. Similarly in the ‘Agents of Change’ category, it awarded Govinda Ghimire of Alternative Herbal Pvt Ltd, Tara Baskota Adhikari of Shangri-La Agro World and Som Prasad Gauchan of Everest Tea Estate Pvt Ltd. Likewise, SNASEA 2012’s additional recognition - ‘NBI Agent of Change’ awarded to Himalayan Naturals Pvt Ltd, Lotus Holdings Pvt Ltd, Women Support Saving and Credit Cooperative Society Ltd and Brihat Investments Pvt Ltd for businesses that support startups, assist enterprise development and promote the culture of entrepreneurship in Nepal. According to Surya Nepal, All the winners were selected after an intense process of evaluation amongst 84 applicants.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Surya Nepal Pvt Ltd awarded the Asha Social Entrepreneurship Award (SNASEA) to 12 Nepali entrepreneurs who created value for the ‘People, Planet and Profit’ on December 18, 2012. It awarded five industrialists; Shanti Shakya Dolma of Kakani Himalayan Natural Dyes, Chiranjeevi Poudel of Seeing Hands Clinic, Dr Bishal Dhakal of Health at Home Private Limited (HHPL), Prachanda Shakya of Nepal Traditional Handicraft Training Centre and Jasmaya Pun of Hampaal Allo Tatha Kapada Bunai Udhyog in the ‘Hidden Heroes’ category.', 'sortorder' => '685', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '797', 'article_category_id' => '34', 'title' => 'EBL Appoints Sadichha Shrestha As Brand Ambassador', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <img align="left" alt="" height="215" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/everestBank.jpg" style="margin:0 10px 10px 0; padding:5px;" width="250" /></p> <p style="text-align: justify;"> Everest Bank Ltd (EBL) has appointed Miss Nepal 2010 Sadichha Shrestha as the Brand Ambassador to promote its brand, products and services. The bank has also launched a new deposit product called ‘Sadichha Deposit’ targeting young people. Parents, too, can open the account in the name of their children. According to EBL, this is the recurring type of deposit in which the children are given 0.50 per cent additional interest than the normal published rate. Besides, for every account, the bank will be providing Rs 5 in order to create a fund for the helpless and needy. Every year on EBL’s annual day function, the fund will be donated to orphanages, schools, child activists etc.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Everest Bank Ltd (EBL) has appointed Miss Nepal 2010 Sadichha Shrestha as the Brand Ambassador to promote its brand, products and services. The bank has also launched a new deposit product called ‘Sadichha Deposit’ targeting young people.', 'sortorder' => '684', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '796', 'article_category_id' => '34', 'title' => 'Chinese Investors Meet FNCCI Team', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> A visiting business delegation of Chinese investors has shown interest to invest in Nepal. In a meeting with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the visiting delegation held talks on bilateral trade relationship and on possible Chinese investment in sectors such as tourism, infrastructure development, hydropower, minerals and agriculture. FNCCI’s Senior Vice-President Bhaskar Raj Rajkarnikar led the FNCCI team while the Vice-President of China Council for Promotion of International Trade (CCPIT), Gaungdong Luo Bingzhi, led the Chinese delegation in the meeting. The meeting further discussed the possibilities and ways to lower Nepal’s trade deficit with China. FNCCI decided to utilize the customs duty waiver given by the Chinese government on various 4,721 Nepali goods. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'A visiting business delegation of Chinese investors has shown interest to invest in Nepal. In a meeting with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the visiting delegation held talks on bilateral trade relationship and on possible Chinese investment in sectors such as tourism, infrastructure development, hydropower, minerals and agriculture.', 'sortorder' => '683', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The benchmark Nepse index stretched 28.31 points or 5.39 percent during the review period between November 25 and December 24 to close at the session’s high of 525.67 while the session’s low was on December 3 with 481.94. The previous high was at 524.19 recorded on 18 January, 2010. </p> <p style="text-align: justify;"> Fall in the banking interest rate and the liberal attitude of banks in extending loans for the purchase of shares from the secondary market have contributed to pull the investors toward the secondary market. The significant growth in the turnover shows the growth in the number of investors in the market.</p> <p style="text-align: justify;"> One important development of the month was New Fund Offer (NFO) by Siddhartha Capital. The scheme, named Siddhartha Investment Growth Scheme-I, is worth Rs 400 million with 5 years maturity. Another similar development was the issuance of IPO by Civil Bank; the bank floated eight million units of general shares. Both these offers in the primary market were lapped up by the investors. Still the secondary market continued its upward journey providing further proof to both of the claims of the analysts that the market is getting new investors and that the existing investors have regained their optimism. </p> <p style="text-align: justify;"> The recent acceleration has been underpinned by the same fundamentals that govern the sentiments of Nepali investors. Timely settlement of the present political chaos will certainly drive the market higher irrespective of the resistance that can be expected at this level. </p> <p style="text-align: justify;"> <strong>Performance by Sector</strong></p> <p style="text-align: justify;"> The manufacturing sector, led by Unilever Nepal, posted a whopping gain of 118.98 points or 14.03 per cent to reach 847.94. The commercial bank sector that holds a very high share in the market added 50.36 points or 9.82 per cent to settle at 513.05. Similarly, the development bank sector accelerated 11.40 points to 263.29 while the hydropower sector surged 3.12 points or 0.30 per cent to rest at 1050.88. However, the hotels sector plummeted 60.73 points or 10.24 per cent to 593.01. Likewise, the insurance sector lost 16.96 points and the ‘others’ sector 12.92 points to settle at 739.81 and 774.22, respectively. The finance sector descended 8.04 points or 3.14 per cent to settle at 255.87.</p> <p style="text-align: justify;"> The sensitive index that measures the performance of 133 blue chip scrip at the secondary market moved 9.42 points or 6.81 per cent up to 138.39 while the float index calculated on the basis of real transaction escalated 0.59 points or 1.65 per cent to 35.84. A total turnover of Rs 2,391,327,495 was realized during the review period through the trading of 6,746,527 units of share traded via 29,146 transactions.</p> <p style="text-align: justify;"> The accompanying figure depicts the sector-wise distribution based on the total volume of trade. As usual, the commercial bank sector grasped 77.65 per cent of the total volume of trade. The hydropower sector occupied 8.61 per cent, insurance sector 4.27 per cent and the remaining sectors made up for the rest.</p> <p style="text-align: justify;"> Technically, the Simple Moving Average (SMA) in both long term and short term is dominated by the Nepse. Both, 200 days SMA and 30 days SMA are outcast with straight ascending of the index, while testing of resistance level is intact at this level.</p> <p style="text-align: justify;"> <img align="" alt="" height="375" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/market_trend.jpg" style="margin:5px;" width="387" /><img align="" alt="" height="378" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/movement_in_indices.jpg" style="margin:5px;" width="362" /></p> <p style="text-align: justify;"> <strong>Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.</strong></p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Fall in the banking interest rate and the liberal attitude of banks in extending loans for the purchase of shares from the secondary market have contributed to pull the investors toward the secondary market.', 'sortorder' => '697', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '812', 'article_category_id' => '41', 'title' => 'Secured Business Of Nepali Paper', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Sushila Budhathoki</strong></p> <p style="text-align: justify;"> <img align="left" alt="" height="391" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/lokta_product(1).jpg" style="margin:0 10px 0 0;" width="200" />The Nepali paper industry is one such industry in the country that has withstood the ongoing political turbulence to run in profit. This is also reflected in the fact that handmade Nepali paper products produced by this industry contribute around 10 per cent to Nepal’s total export and this contribution is growing by 7 to 8 per cent annually. Bikash Ratna Dhakhwa, President of the Federation of Handicraft Association of Nepal (FHAN) is quite happy with the growth of the Nepali paper business even during such harsh times. He says, “Had there been a good environment for industries, politically as well as economically, this sector would have seen a massive growth.” </p> <p style="text-align: justify;"> The ever-growing market demand of the Nepali paper or Lokta Kagaj, as it is locally known, is the main reason behind the steady performance of the Nepali paper industry. Lokta has been successful in attracting many craft lovers nationally and internationally. Products made of Lokta are a major attraction at every handicraft trade fair. Dhakhwa says, “We have been organizing numerous handicraft fairs to promote the business of these products. We are now organizing the 10th handicraft fair which would definitely be fruitful to the Nepali paper business among other handicraft businesses.” According to FHAN, the export of paper products increased by 32 per cent to Rs 410 million in FY 2011/12 from Rs 310 million in 2010/11. </p> <p style="text-align: justify;"> Once replaced by the massive import of cheap papers from China, the Lokta has regained its lost sheen because of its quality and uniqueness. Having seen the prospects, industrialist like Bishnu Das Dangol, former Managing Director of Bhaktapur Craft Paper Ltd- the first business enterprise to produce and export Nepali handmade paper - are being lured into the business again. Dangol has joined the company back after a long gap as its Executive Director. “I have entered this business again because it involves people from the grass-roots to those at the high level. The paper industry can become the major industry to eradicate poverty in our country,” he says. </p> <p style="text-align: justify;"> According to Kiran Kumar Dangol, President of HANDPASS (Nepal Handmade Paper Association) there are around 300 companies involved in the Lokta business and together they have employed around 50,000 people. He says, “Lokta is a big business today. We export Lokta products worth around Rs 40 to 50 million yearly. Europe accounts for 60 per cent of our export while the USA for around the remaining 40 per cent.” </p> <p style="text-align: justify;"> Benu Das Shrestha who is originally from Sindupalchok district has been making and selling the Lokta paper for the past two decades and is inspiration to many. He says, “Many of my friends have followed in my footsteps. Lokta is a low-cost business that we can afford to run and can start it with the help of just around 10 people.” It was more than 20 years ago that he started his Lokta factory, Jugal Nepali Haate Kagaj Udhyog, at Jalbire, his birthplace in Sindhupalchok. Today, Shrestha earns around Rs 60,000 a month and is also hopeful about expanding his business in the coming years.</p> <p style="text-align: justify;"> For industrialists like Satyalal Shrestha, who has spent 25 years in the Lokta business and is the owner of Bagmati Paper Company, it is a business of creativity. In the beginning, he used to produce the plain Lokta paper. But he soon found new ways to diversify his business and today he produces several creative paper products. “We design various items according to the needs of the customers and we often consult with them before making new products,” he shares. </p> <p style="text-align: justify;"> Shrestha produces a range of products from wall hangings, photo-frames, albums, mirrors, and paper vases to the extra-ordinarily made paper jewelries. His creativity is seen in the marvelous set of paper tables which are perfect even for dining. However, he has no showroom in Nepal and anyone wanting to buy his products has to visit his factory and give an order in advance. The average annual turnover of his company is around Rs. 20 million.</p> <p style="text-align: justify;"> The Lokta paper has a long history in Nepali paper usage. Although Lokta is being produced in Nepal from as early as the twelfth century, it got international recognition when the UNICEF started to buy and use it for important documents. Known for its long lasting quality, the handmade Lokta has been traditionally used for official purpose for ages. But today it is used for many purposes. The Nepali paper used for the legal and government documents is produced with a Japanese technology in A4 size. This paper is made from not only the bark of the Lokta tree but also other plants like Argeli (Edgeworthia gardeneri), babiyo (Eulaliopsis binata), hay, leaf of cardamoms etc. </p> <p style="text-align: justify;"> Many farmers have contributed to run the Lokta business and most of them are working at the community level enterprises in association with different groups of collectors. They produce the Lokta paper according to the demand of the buyers from different paper industries. The paper can be used directly after buying from them. However, processes like shorting, coloring, processing, etc at the paper factories further enhances the quality of the Lokta paper. Dangol says, “Unlike other products, the Lokta paper is 100 per cent handmade. All the raw materials are produced locally.” </p> <p style="text-align: justify;"> Lokta products are of two categories- pure and mixed ones. In the market, one sheet of pure Lokta paper weighing five gram costs around Rs 6 while the other paper with same weight made with mixed products cost around Rs 5. Similarly, a Lokta sheet weighing 20 gms costs Rs 18 while the mixed paper in the same category costs Rs 16. Lokta products are available as sheets, note-books, photo albums and picture frames, writing sets, and gift- boxes, among other products such as carry bags, calendars, file-folders, lampshades, greeting cards, wall papers, photo frames, art paper, picture albums, gift sets, postcards, paper jewelry, jewelry boxes, telephone diaries, etc. The price for these products differs with the size, weight and quality.</p> <p style="text-align: justify;"> The Lokta plant is found in 56 districts of the country. According to the FNCCI’s document ‘Business Promotion Strategy (2012 – 2016)’, Lokta is listed among the 20 species of Non Timber Forest Products (NTFPs) including some exotic species like Mentha, chamomile, lemongrass, Dalchini, etc. The Western Mid Hilly regions and the hilly district of Gandaki and Dhaulagiri Zones - Baglung, Myagdi, Parbat, Kaski, Lamjung, Syangja, and Tanahu - are the main locations of the Lokta plant. Usually, the Lokta plant is harvested when it is mature enough. </p> <p style="text-align: justify;"> <strong>Brand Nepal </strong></p> <p style="text-align: justify;"> Lokta paper has been identified among the 19 major exportable goods of the country. It has become a brand name in itself and is known as a quality paper all over the world. Today, Lokta paper’s international market is far bigger than its local market. According to the traders, Lokta products have a huge market in countries like the USA, Canada and many European countries like Germany, the United Kingdom, France, Italy, Denmark and lately, Japan in Asia.“Due to the unique feature and quality, there is a high demand for the Nepali paper in the international market,” Shares Bisnu Das Dangol. </p> <p style="text-align: justify;"> With its attractive texture, durability, strength and resistance to insects, Lokta products are popular even in the digital age and this is an amazing truth for the people involved in this business. Unlike the previous Lokta papers, the Lokta papers today are well-finished products available in a range of colors, textures, patterns and prints. They can be customized for different logos, graphics, colors, designs and paper weight. The success of Nepali industrialists in developing a variety of Lokta products has been a plus point for this business. Satyalal says, “The customers are demanding more and more varieties of Lokta products.”</p> <p style="text-align: justify;"> Bisnu Das Shares, “If we can market our products aggressively, all national and international organizations will start using the Nepali paper for their important documents in no time.” The paper is among the costly papers available in the international market. The demand for Lokta-made gift items like cards for different occasions such as weddings, birthdays etc is high in the Nepali market while Lokta-made notebooks, boxes, wrapping- papers, different kinds of printed papers are sought after internationally. Recently, Lokta has found popularity in the making of fashion accessories as well. </p> <p style="text-align: justify;"> <strong>Future in paper</strong></p> <p style="text-align: justify;"> <img align="right" alt="" height="339" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/lokta_product(2).jpg" style="margin:0 0 0 10px;" width="454" />Due to the growing demand, the need for conserving and promoting Lokta and producing high quality papers has emerged at the same time. However, the lack of sustainable harvesting and cultivation process has put the raw materials used for producing the Lokta paper at the risk of extinction. Saraswati Rai, Operation Manager at Himalayan Bio-Trade (HBTL) - a community-based enterprise - is concerned about the negligence in the preservation of the Lokta plant. According to her, it would be difficult to keep up the quality of the Lokta paper in the long run in the absence of concerted efforts to preserve the Lokta plant. “The Lokta products are not being produced in a sustainable way.” The Lokta plant has a unique ability to regenerate and reach maturity within four to five years after the first cutting. But it demands skilled manpower for its harvesting. This ability should also make the preservation of the Lokta plant comparatively easy. Lokta can generate much more employment at the grassroots even if the farmers take Lokta growing as a seasonal business. Rai says, “If we have trained collectors for harvesting Lokta and if we can maintain the quality, the business has a very bright future ahead.” HBTL buys papers made from Lokta or argeli from the farmers. Though Rai shares that the company’s overall production has declined in comparison to the previous years, she is confident of the everlasting market of the Nepali Paper. HBTL’s average annual turnover is around Rs 30 million of which its paper business constitutes Rs 20 million. </p> <p style="text-align: justify;"> If given due importance, the Lokta paper stands fairly high chances getting much bigger and better national and international markets. “International buyers are looking for unique and valuable products like the Nepali paper which is basically exported as handicraft products,” shares Bisnu Das. </p> <p style="text-align: justify;"> According to the traders, though the existing Lokta products are good enough and doing very well, there is an urgent need to develop even better and advanced products. Many organizations are facilitating the designers who could design Lokta products to meet the international demand. They are also providing training to the new generation people who are attracted to paper production, designing and marketing. Some of the organizations and Lokta collectors have even started conserving the Lokta plants. The traders involved in the Lokta business have started getting cash incentives, four and a half per cent re-financing and also export incentives. So, if you are planning to venture into a long-term business in Nepal that has withstood the tests of time, then the Lokta business could be the right place to invest in. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-23', 'keywords' => '', 'description' => 'The ever-growing market demand of the Nepali paper or Lokta Kagaj, as it is locally known, is the main reason behind the steady performance of the Nepali paper industry.', 'sortorder' => '696', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '808', 'article_category_id' => '39', 'title' => 'Small Is Mega For Mega Bank', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> Big things come in small packages for Mega Bank Nepal Limited. When the bank was established around two years back, its vision to be a bank for every Nepali grabbed the attention. Driven by the slogan ‘Halo to Hydro’ (Plough to Power), the bank started its journey as a commercial bank with 1219 promoters from 63 of the country’s 75 districts. </p> <p style="text-align: justify;"> Financial inclusion is one of the major objectives and vision of the bank which strives to become a truly people’s bank. This objective also provides the bank with a route to profitability. It is such simple and small visions and objectives which make the guiding policy of Mega Bank. </p> <p style="text-align: justify;"> <img align="left" alt="" height="188" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/anilShah.jpg" style="text-align: start; margin: 20px 10px 10px 0px;" width="149" /></p> <div> </div> <div> <h3> <strong>‘We will make a path through the jungle, not through a six lane highway and show others that there is a business there as well’</strong></h3> <p> <strong><span style="font-size: 14px;"><br /> </span></strong></p> <address> <strong>Anil Shah</strong></address> <address> <strong>Chief Executive Officer </strong></address> <address> <strong>Mega Bank Nepal Limited </strong></address> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> <img align="left" alt="" height="203" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/mega_counter.jpg" style="text-align: justify; margin: 15px 10px 10px 0px;" width="350" /></div> <p style="text-align: justify;"> According to Anil Shah, Chief Executive Officer of Mega Bank, the Small and medium enterprises (SMEs) segment is a priority for the bank. “The SME segment is one of the good opportunities for the bank. It is in fact the best investment sector for any bank. Mega Bank has continuously tried to reach out to small enterprises and individual clients,” he says. Similarly, micro credit and rural lending, too, are at the top of the bank’s priority list. “We want to invest 40 per cent out of our total lending of Rs 13 billion in the SMEs,” Shah adds. </p> <p style="text-align: justify;"> Shah believes that SMEs are the backbone of Nepal’s economy as almost every village and every street of every town has small shops. He thinks that these shops need to be supported by the banking system. According to him, Mega Bank dreams to create numerous Bhatbhatenis – an epitome of SME success - across the country. That’s why the bank has focused on SMEs right from its commencement. “We have a branch which has lent micro credits to around 20 thousand sugarcane farmers. They need fertilizers. So, our corporate customers import fertilizers and sell it to these farmers. The farmers are able to pay them by taking micro loans. So, we have a value chain with SMEs in the middle,” Shah explains.</p> <p style="text-align: justify;"> Although it is mandatory for a commercial bank to issue initial public offerings (IPO), Mega Bank perceives this provision as a means to be more financially inclusive. Shah opines that it is always better when wealth is distributed among people rather than being concentrated among a handful of corporate promoters or big joint ventures outside the country. “Our vision is to issue IPO to as many Nepalis as possible and make them our shareholders. That is part of our aim to spread wealth,” he shares. </p> <p style="text-align: justify;"> The bank is planning to issue its IPO worth Rs 700 million in the third quarter of the current fiscal year. This will increase the bank’s paid-up capital to Rs 2.3 billion from Rs 1.63 billion at present. Around 70 per cent of the bank’s stakes are owned by the promoters while the remaining 30 per cent with the general public. Interestingly, Mega Bank’s promoters, too, are the general public, unlike in any other commercial bank where the ownership remains with a handful of corporate houses or joint ventures. According to Shah, the bank has 1291 promoters from 63 districts and they have invested from Rs 1 million to Rs 10 million in Mega Bank. </p> <p style="text-align: justify;"> “The wealth that the bank creates goes to Nepali families spread across the country,” says Shah. That was something that inspired Shah to be a part of the bank since its initial days. He believes that Nepal should have a banking model that is original – not copied from north, south, east or west. “It has to be intrinsically Nepali. Let the world copy it,” he says, adding that the ‘Mega Model’ is essentially a start towards that journey. </p> <p style="text-align: justify;"> The Mega Model is a different attempt of the bank to serve the entire economic pyramid. This pyramid, according to Shah, has corporate and high class banking clients on the top and SMEs in the middle and general customers – rural farmers, SME owners and other micro credit seekers - at the base. The bank has a separate unit named ‘Mega Micro’ that reaches out to the villages to serve the ‘Halo’ level. He says, “This is neither a Bangladeshi model nor a private bank model. When we make this successful, this is the model which is going to be followed regionally as well as globally.”</p> <p> <img align="right" alt="" height="211" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/mega_interior.jpg" style="margin: 0px 0px 0px 10px;" width="350" /></p> <p style="text-align: justify;"> Within the first two years its commencement, the bank has earned over 87,000 customers who have deposited more than Rs 11 billion there. The bank’s total investment is around Rs 10.5 billion. Shah is quite content with the bank’s achievements in its initial two years.“In these two years, Mega Bank has reached where we wanted it to. However, the foundation is still being laid and there is a long way to go,” he says, adding that it would take three to five more years before the bank has a well-built foundation. “In 100 to 150 years from now, people will be happy to be a part of this bank. Banking is not a short-term industry. The decisions that I as a CEO or the board takes now must add long-term values to the bank. Decisions should be taken with the at least the next 10 or 20 years in mind,” he explains.</p> <p style="text-align: justify;"> One of the greatest achievements of the bank in its first two years is the creation of a well known brand name. Shah who has helped create larger-than-life brand images in the past has proved his mettle at Mega Bank as well. “People should be forthcoming to say that they want to be part of this bank either - be it as a customer, staff or a shareholder,” says he, “An excellent brand image can do that and that is our destination. Everything we have done in the first two years is a step towards that destination.” </p> <p style="text-align: justify;"> Shah gives credit to the management team which the bank calls the ‘Mega Team’ and the promoters’ vision for everything the bank has achieved till date. He says that the bank has got the team that believes in the ‘Mega Model’. “I don’t claim that we have the best banking team in the country, but for our vision, there isn’t a better team,” boasts Shah. The Mega Team has 429 employees. The bank’s working environment is guided by the philosophy of ‘professionalism with a personal touch’. He believes that the working environment has to be comfortable and friendly along with the respect for organisational hierarchy. “Our work culture is finally translated into the customer services. We offer the best professional service with a personal touch,” claims Shah.</p> <p style="text-align: justify;"> The bank’s management mantra is people, people and people. “It is all about leading people and finding out their strengths. Know what their strengths are and give them roles accordingly,” says Shah. He adds that the bank always gives priority to qualified people. Another management mantra is time management. The bank keeps its employees always prepared to accept any challenge or changes that may come out of the blue.</p> <p style="text-align: justify;"> Any organisation is constantly surrounded by numerous seen and unseen challenges and forces. Shah states, “Mega Bank and Mega Team do not use the current political environment as an excuse.” That is one of the reasons why the bank brought in the concept of branchless banking in a country like Nepal where it’s not possible for any bank to have a branch in every village. However Mega Bank wants to have its services available in every village through branchless banking. He explains, “A person working in Doha can send money to his/her family in Dolpa with just a cost of around Rs 300 in less than three minutes. Why can’t a bank situated in Kathmandu provide its financial services to the people in remote Nepal?” </p> <p style="text-align: justify;"> The bank began its branchless services last year and is now planning to expand them to across the country this year. As of now, the bank has 28 branches and offers branchless banking from 16 points and is planning to add 30 more such pints this year. “We want to have hundreds of digital branches in the future because having physical presence in the urban areas alone won’t help the vision of Halo to Hydro.”</p> <p style="text-align: justify;"> Rural banking is one of the top agenda of Mega Bank. At a time when a majority of commercial banks are based in the urban areas, Mega envisioned being a partner in rural banking. “We will make a path through the jungle, not through a six lane highway and show others that there is a business there as well. Once we do that, other financial institutions will follow us and together we will build a six-lane highway,” says Shah. </p> <p style="text-align: justify;"> <strong><strong><span style="font-size:14px;">SWOT Analysis</span></strong></strong></p> <p style="text-align: justify;"> <strong><strong>Strengths: </strong></strong></p> <ul> <li style="text-align: justify;"> <strong>1291 Promoters</strong></li> <li style="text-align: justify;"> <strong>Staff </strong></li> <li style="text-align: justify;"> <strong>The vision of Halo to Hydro </strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Weakness:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>Young team that is relatively new to banking</strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Opportunities:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>Rural areas</strong></li> <li style="text-align: justify;"> <strong>SMEs</strong></li> </ul> <p style="text-align: justify;"> <strong><strong>Threats:</strong></strong></p> <ul> <li style="text-align: justify;"> <strong>External environment</strong></li> <li style="text-align: justify;"> <strong>Political environment</strong></li> </ul>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Financial inclusion is one of the major objectives and vision of the bank which strives to become a truly people’s bank. This objective also provides the bank with a route to profitability.', 'sortorder' => '695', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '807', 'article_category_id' => '60', 'title' => 'Etihad Airways Flew 10.29 Million Passengers In 2012', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> <img alt="" height="108" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/etihadAirways.jpg" style="margin:0 0 10px 0;" width="233" /></p> <p style="text-align: justify;"> Etihad Airways has surpassed its target of carrying 10 million passengers in 2012. The airline carried a total of 10.29 million passengers in the year - a 22 per cent increase from 8.41 million passengers in 2011. The airline has a global network that covers 87 of its own passenger and cargo destinations, and 245 code-share destinations.</p> <p style="text-align: justify;"> According to the official statement of the airline, passenger growth for Etihad Airways is mirrored by its equity partners. By the end of 2012, airberlin carried around 33.4 million passengers, Virgin Australia 19.5 million passengers, Aer Lingus nearly 11 million passengers, and Air Seychelles 241,000 passengers.Etihad Airways and its equity partners collectively carried more than 74 million passengers in 2012, with cooperation between the five airlines greatly contributing to passenger growth.</p> <p style="text-align: justify;"> James Hogan, Etihad Airways’ President and Chief Executive Officer, said, “Etihad Airways has achieved significant expansion in 2012 and therefore it’s very satisfying to pass our target of flying more than 10 million passengers during a year for the first time.Etihad Airways’ busiest route was Bangkok with the airline carrying nearly 691,000 passengers to the Thai capital during the year, a 38 per cent increase on 2011.This was closely followed by Manila, Heathrow and Jeddah. Sydney, Paris, Frankfurt, Manchester, Doha and Dublin complete the list of the 10 most popular routes of the airline.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Etihad Airways has surpassed its target of carrying 10 million passengers in 2012. The airline carried a total of 10.29 million passengers in the year - a 22 per cent increase from 8.41 million passengers in 2011. The airline has a global network that covers 87 of its own passenger and cargo destinations, and 245 code-share destinations.', 'sortorder' => '694', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '806', 'article_category_id' => '60', 'title' => 'Qatar Wins CAAN Award', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="" height="218" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/qatarAirways.jpg" style="text-align: justify;" width="406" /></p> <p style="text-align: justify;"> Qatar Airways won the CAAN Award for transporting highest number of international passengers to Nepal. Suneer PC, representative of the airline, received the award from Posta Bahadur Bogati, Minister for Tourism and Civil Aviation. CAAN handed over the award in the last week of December, 2012.</p> <p style="text-align: justify;"> In Mid-January, Qatar Airways launched its inaugural long-haul Boeing 787 Dreamliner service on the Doha –London-Heathrow route, becoming the first airline to operate regular scheduled flights with the state-of-the art aircraft to and from the UK. According to the airline, passengers flying from Nepal can also experience the new 787 on connecting flights to selected destinations.</p> <p style="text-align: justify;"> Similarly, the airline also announced direct scheduled flights from Athens to New York beginning mid-2013. Chief Executive Officer Akbar Al Baker made the announcement in Athens on the occasion of the airline’s eighth year in Greece and to commemorate the carrier’s increasingly strong operations in the country.</p> <p style="text-align: justify;"> Qatar Airways on December 5 launched scheduled flights to Poland, its latest entry into Central Eastern Europe and 12th new route of the year.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Qatar Airways won the CAAN Award for transporting highest number of international passengers to Nepal. Suneer PC, representative of the airline, received the award from Posta Bahadur Bogati, Minister for Tourism and Civil Aviation. CAAN handed over the award in the last week of December, 2012.', 'sortorder' => '693', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '805', 'article_category_id' => '56', 'title' => 'Corporate', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <strong>Himal Tea Industries Pvt Ltd</strong>, an exporter and specialty manufacturer, blender and packager of Nepali tea has launched its Rakura Heavenly Classics brand of tea. According to the company, the tea is packed in the nation’s first double chambered tea bags. Rakura tea is available in three flavours, namely Green, Black and CTC. The tea features odourless rapid release filter paper, surgical grade antimicrobial aluminum wires, unbleached pure cotton thread and food grade tags made from natural fibres, claims the company.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> The <strong>British College</strong> situated at Trade Tower, Thapathali, has announced the signing of a Memorandum of Understanding between the College and two companies located in the premises of the Trade Tower, namely ER Sigdel and Associates, Chartered Accountants and the Trade Tower Business Centre. Under the agreement, students from the College will have the opportunity to pursue internships with these companies as part of their UK University degree courses.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> <strong>Laxmi Bank</strong> has introduced a micro credit initiative in Tansen Municipality in partnership with Lumanti, an NGO working for the alleviation of urban poverty in Nepal. According to the Bank, this home loan programme aims to benefit at least 100 low-income families in the municipality. The bank has entered into an agreement with Lumanti and Tansen Municipality to extend individuals loans up to Rs 150,000 each under this programme. Under this credit programme, borrowers can repay the loans in easy monthly installments over a period of five years.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-15', 'keywords' => '', 'description' => 'Himal Tea Industries Pvt Ltd, an exporter and specialty manufacturer, blender and packager of Nepali tea has launched its Rakura Heavenly Classics brand of tea. According to the company, the tea is packed in the nation’s first double chambered tea bags.', 'sortorder' => '692', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '804', 'article_category_id' => '56', 'title' => 'Automobiles', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Anna Automobiles Pvt Ltd has launched Piaggio Robinson, a 150 cc bike in the market. Piaggio is an Italian motorcycle and scooter manufacturer internationally recognized for its technology, craftmanship, design and efficiency. According to the company, the new bike is inspired by the racing spirit of Aprilia. The features of Robinson include front disk brakes, 5-speed transmission, digital meter with gear indicator, an 18-litre tank, sporty LED signal and tail lamps and a hydraulic rear shock absorber which can be adjusted as needed. The bike is priced at Rs 209,000, and the company is giving a discount of Rs 10,000 as the introductory offer.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Anna Automobiles Pvt Ltd has launched Piaggio Robinson, a 150 cc bike in the market. Piaggio is an Italian motorcycle and scooter manufacturer internationally recognized for its technology, craftmanship, design and efficiency.', 'sortorder' => '691', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '803', 'article_category_id' => '56', 'title' => 'FMCG', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Jaya Confectionary Pvt Ltd has introduced a new campaign named ‘Fresho Breath’ for its Fresho Menthalyptus candy. According to the company, Fresho Menthalyptus is a mint flavoured candy that has a mint ingredient which helps purify the breath and keeps the mouth fresh. The campaign uses multimedia at the national level to convey its message, primarily targeting the youth, especially teenagers. The hard boiled confectionery is available at all retail outlets across the nation at the price of Re1 per unit.</p> <p> Dabur Nepal has launched Banana Strawberry and Green Apple Punch, two new variants in its Real Activ Fiber+ range of juices. According to the company, Real Activ Fiber Banana Strawberry is an exquisite blend of strawberry, banana and other fruits that gives the experience of eating a fruit. Similarly, Real Activ Green Apple Punch is a blend of green apples and other fruits handpicked from the best of orchards and packed with the goodness of fiber, claims the company.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Jaya Confectionary Pvt Ltd has introduced a new campaign named ‘Fresho Breath’ for its Fresho Menthalyptus candy. According to the company, Fresho Menthalyptus is a mint flavoured candy that has a mint ingredient which helps purify the breath and keeps the mouth fresh.', 'sortorder' => '690', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '802', 'article_category_id' => '56', 'title' => 'Electronics', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> </p> <p> Saurabh Photo International has launched two new models of KONKA LED TV - 701 Series LED TV and 30 Series LED TV in the market. KONKA 701 Series LED TV comes with features like Full HD 3D, IPS Hard Screen and Healthy Non-flickering, Smart Chip with High Brightness Judder-proof, and Full HD1080P, among others. KONKA 701 Series LED TV is available in 47” and 50”sizes in the market. KONKA 30 Series LED TV has features like Perfect Picture and synchronized transfer from 2D to 3D, high resolution, non-dizziness, real pictures and true colours. KONKA 30 Series LED TV is available in 47”size.</p> <p> Canon has launched EOS 6D in the market that it claims to be the world’s lightest full-frame DSLR equipped with a 20.2 megapixel CMOS sensor with precision 11-point AF system. The EOS 6D also offers built-in WiFi and GPS support. Similarly, Canon has also launched three mid- to high-end PowerShot compact cameras namely PowerShot G15, PowerShot S110 and PowerShot SX50 HS.</p> <p> NIYO International Pvt Ltd has started selling Hi-Tech Water Purifier in Nepal. The Indian made water purifier uses the Reverse Osmosis technology to make water drinkable. High-tech is an ISO 9001: 2008 CE registered company. Its products are verified by the Water Quality Association America. The high-tech water purifier costs from Rs. 14,500 to 24,990 and comes with a one year warranty. </p> <p> </p> <p> International Marketing Services, the sole authorized distributor of Samsung Mobile in Nepal, has launched a new phone named Samsung Galaxy Music Duos smartphone. According to the company, the phone comes with enhanced audio features and is available at Rs 16,690. The features of the phone include dual SIM, with 2 SIM ‘Always On’ feature, excellent sound quality with dual SRS speakers and ‘Sound Alive’ feature. It connects to the Internet via WiFi or 3G and operates on Android 4.0 Ice-cream sandwich platform (upgradable to Jellybean). It has an internal 4 GB memory that can be expanded up to 32 GB.</p> <p> Tara International Pvt Ltd has announced the launch of the latest version of its antivirus product, Bitdefender 2013, in the Nepal market. Araghya Sanyal, Bitdefender-South Asia Channel and Sumeru Shrestha, CEO of Tara International, formally launched the antivirus at a function held at Annapurna Hotel. Tara International is the authorized distributor of the products. At the function, a demonstration of the features of the antivirus was made. Bitdefenders products include Antivirus plus 2013, Internet security 2013 and Total security.</p> <p> Him Electronics Pvt Ltd has introduced Himstar Electric Kettle in the market. This electric kettle, according to the company, is manufactured with stainless steel to prevent rusting while its 360 degree cordless control with detachable power base helps to move it according to the need. The kettle comes with a neon indicator that indicates the state of water inside.</p> <p> LG Electronics (LG), a global leader and technology innovator in consumer electronics announced the launch of World’s Narrowest Bezel 3D TV in Nepal. Unveiling its new product line up at a grand event, LG revealed the cutting-edge 3D bezel TV model 55LM9600 that is sized at 1mm (Off) and 4.7mm(On), setting a new world record for the narrowest bezel 3D TV. According to the company, this Smart TV, equipped with the most advanced 3D technology, enables a smoother and more immersive 3D viewing bringing a limitless world of 3D entertainment at the tip of your magic remote.</p> <p> </p> <p> Colors Mobile has launched CDMA phone C1 in the market. According to the company, this CDMA handset is the most affordable mobile handset in its category, and is equipped with numerous features. C1 comes with inbuilt FM radio, 1000 mAH battery, large phone book, big speaker and SMS chat facility. The phone with 1.5” LCD screen also features Bluetooth connectivity. Thecompany is offering a 6-month warranty on the handset and its battery and charger.</p> <p> Colors Mobile has launched Colors Evdo, a CDMA modem in the market. According to the company, the wireless modem is targeted at the internet savvy customers who want an easy access to the Internet. The I/O Interface (USB) Evdo has data speed of 3.1 Mbps in forward link and 1.8Mbps in the backward link. The modem with inner antenna supports R-UIM and has a Micro SD card slot that supports up to 16GB. Apart from these features, this modem also supports Windows XP/2000/Windows 7/Vista/Ubuntu/Mac 6.0. The modem comes with a six-month warranty.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Saurabh Photo International has launched two new models of KONKA LED TV - 701 Series LED TV and 30 Series LED TV in the market. KONKA 701 Series LED TV comes with features like Full HD 3D, IPS Hard Screen and Healthy Non-flickering, Smart Chip with High Brightness Judder-proof, and Full HD1080P, among others. KONKA 701 Series LED TV is available in 47” and 50”sizes in the market. KONKA 30 Series LED TV has features like Perfect Picture and synchronized transfer from 2D to 3D, high resolution, non-dizziness, real pictures and true colours.', 'sortorder' => '689', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '801', 'article_category_id' => '34', 'title' => 'Simrik Air’s Fleet Expansion Plan', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <img align="left" alt="" height="120" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/simrikAir.jpg" style="margin:0 10px 10px 0;padding:5px;" width="227" />The private airline company, Simrik Air has announced to expand its fleet of choppers to six within two years. “We want to develop our company as a ‘rescue hub’ worldwide,” said Capt Rameshwor Thapa, Executive Chairman of Simrik Air. The company is set to sell the two existing BK-117 helicopters and bring in new six-seat small helicopters. “We have been providing the best chopper services to the major tourism destinations and it makes us the first proud airline, outside the West, to boast such helicopters in the fleet,” Thapa said. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'The private airline company, Simrik Air has announced to expand its fleet of choppers to six within two years. “We want to develop our company as a ‘rescue hub’ worldwide,” said Capt Rameshwor Thapa, Executive Chairman of Simrik Air.', 'sortorder' => '688', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '800', 'article_category_id' => '34', 'title' => 'Namaste To Fly Domestic Sky In 3 Months', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> Namaste Air, a newly licensed domestic airline, is making preparations to start flying on the domestic routes within three months. The company received the Air Operator’s Certificate (AOC) towards the end of 2012. AOC is the go-ahead document from the Civil Aviation Authority of Nepal (CAAN).</p> <p style="text-align: justify;"> According to Raju KC (Khatri), Executive Chairman of the company, internal preparations are underway to start flights at the earliest. “Currently we are doing the groundwork to commence flights with two 78-seater ATR-72,” he said.</p> <p style="text-align: justify;"> Namaste Air is also speeding up its internal infrastructure development and training pilots and co-pilots. According to KC, the company is collaborating with an American company named Pentagon Capital to bring two ATR aircraft at the first stage. He said his company has received CAAN’s permission to bring the craft and has already sent US $ 60,000 to the supplier of the craft a month ago. </p> <p style="text-align: justify;"> KC also claimed that the company is to import airplanes of the latest model that no Nepali Airline possesses so far. According to him, the model is 2007 and the craft has flown for just about 5 years. Initially, two airplanes will be imported and then after 2-3 months other two 42-seater ATR-42 will be purchased. </p> <p style="text-align: justify;"> Namaste Air has said that it will bring the airplanes on lease but plans to acquire the full ownership soon. </p> <p style="text-align: justify;"> The company has permission to operate flights to eight trunk routes of Nepal—Pokhara, Biratnagar, Chandragadhi, Nepalgunj, Kathmandu, Tumlingtar and Dhangadhi from its base in Bhairahawa. “We will compete with the airlines that are currently operating in Nepal,” said KC. According to the existing rules, a company seeking to start an airline service has to have a paid-up capital of Rs150 million and furnish a bank guarantee worth Rs 200,000. Namaste Air will have a challenge to compete with major airlines such as Buddha Air and Yeti Air that have been flying on the trunk routes. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'The company is to import airplanes of the latest model that no Nepali Airline possesses so far. Initially, two airplanes will be imported and then after 2-3 months other two 42-seater ATR-42 will be purchased', 'sortorder' => '687', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '799', 'article_category_id' => '34', 'title' => 'Int’l Airlines Can Now Operate 14 More Flights A Week', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p style="text-align: justify;"> The Ministry of Tourism and Civil Aviation (MoTCA) has allowed 14 more international flights a week to each of the international airlines currently providing their service in Nepal. According to Suresh Acharya, Under Secretary at MoTCA, although they were bound by the Air Service Agreement (ASA) in case of seat capacity, they were not allowed to increase flight numbers. He said “This type of permission is temporary and is valid until the review of the ASA.” International airlines serving in Nepal will be able to add more flights from 1st January 2013. Previously, more flight permission was given during Lumbini Visit Year 2012 and Nepal Tourism Year 2011. The 2012-permission to 10-more-flights-a-week expired on 31st December 2012. </p> <p style="text-align: justify;"> The permission has been given to ease the international airlines operational in Nepal for New Year 2013. The airlines of 16 countries that are providing their service in Nepal at present will benefit from this decision. MoTCA had given additional flight permissions in 2007 and 2008 as well. Though 32 airlines from 16 countries have received the permission to operate international flights to and from Nepal, only 29 are in service at present. Airlines from countries like the UAE, China, Pakistan, Australia, Bhutan, Saudi Arabia, UK, Russia, Japan etc will benefit from the permission. </p> <div> </div>', 'published' => true, 'created' => '2013-03-14', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'International airlines serving in Nepal will be able to add more flights from 1st January 2013. Previously, more flight permission was given during Lumbini Visit Year 2012 and Nepal Tourism Year 2011.', 'sortorder' => '686', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '798', 'article_category_id' => '34', 'title' => 'Surya Nepal Announced Entrepreneurship Award 2012', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> Surya Nepal Pvt Ltd awarded the Asha Social Entrepreneurship Award (SNASEA) to 12 Nepali entrepreneurs who created value for the ‘People, Planet and Profit’ on December 18, 2012. It awarded five industrialists; Shanti Shakya Dolma of Kakani Himalayan Natural Dyes, Chiranjeevi Poudel of Seeing Hands Clinic, Dr Bishal Dhakal of Health at Home Private Limited (HHPL), Prachanda Shakya of Nepal Traditional Handicraft Training Centre and Jasmaya Pun of Hampaal Allo Tatha Kapada Bunai Udhyog in the ‘Hidden Heroes’ category. These five winners will each get a package which includes cash prize from Surya Nepal Private Limited along with the opportunity of networking through ChangeFusion Nepal. Similarly in the ‘Agents of Change’ category, it awarded Govinda Ghimire of Alternative Herbal Pvt Ltd, Tara Baskota Adhikari of Shangri-La Agro World and Som Prasad Gauchan of Everest Tea Estate Pvt Ltd. Likewise, SNASEA 2012’s additional recognition - ‘NBI Agent of Change’ awarded to Himalayan Naturals Pvt Ltd, Lotus Holdings Pvt Ltd, Women Support Saving and Credit Cooperative Society Ltd and Brihat Investments Pvt Ltd for businesses that support startups, assist enterprise development and promote the culture of entrepreneurship in Nepal. According to Surya Nepal, All the winners were selected after an intense process of evaluation amongst 84 applicants.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Surya Nepal Pvt Ltd awarded the Asha Social Entrepreneurship Award (SNASEA) to 12 Nepali entrepreneurs who created value for the ‘People, Planet and Profit’ on December 18, 2012. It awarded five industrialists; Shanti Shakya Dolma of Kakani Himalayan Natural Dyes, Chiranjeevi Poudel of Seeing Hands Clinic, Dr Bishal Dhakal of Health at Home Private Limited (HHPL), Prachanda Shakya of Nepal Traditional Handicraft Training Centre and Jasmaya Pun of Hampaal Allo Tatha Kapada Bunai Udhyog in the ‘Hidden Heroes’ category.', 'sortorder' => '685', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '797', 'article_category_id' => '34', 'title' => 'EBL Appoints Sadichha Shrestha As Brand Ambassador', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> <img align="left" alt="" height="215" src="http://www.newbusinessage.com/ckfinder/userfiles/Images/everestBank.jpg" style="margin:0 10px 10px 0; padding:5px;" width="250" /></p> <p style="text-align: justify;"> Everest Bank Ltd (EBL) has appointed Miss Nepal 2010 Sadichha Shrestha as the Brand Ambassador to promote its brand, products and services. The bank has also launched a new deposit product called ‘Sadichha Deposit’ targeting young people. Parents, too, can open the account in the name of their children. According to EBL, this is the recurring type of deposit in which the children are given 0.50 per cent additional interest than the normal published rate. Besides, for every account, the bank will be providing Rs 5 in order to create a fund for the helpless and needy. Every year on EBL’s annual day function, the fund will be donated to orphanages, schools, child activists etc.</p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'Everest Bank Ltd (EBL) has appointed Miss Nepal 2010 Sadichha Shrestha as the Brand Ambassador to promote its brand, products and services. The bank has also launched a new deposit product called ‘Sadichha Deposit’ targeting young people.', 'sortorder' => '684', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '796', 'article_category_id' => '34', 'title' => 'Chinese Investors Meet FNCCI Team', 'sub_title' => '', 'summary' => null, 'content' => '<p style="text-align: justify;"> A visiting business delegation of Chinese investors has shown interest to invest in Nepal. In a meeting with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the visiting delegation held talks on bilateral trade relationship and on possible Chinese investment in sectors such as tourism, infrastructure development, hydropower, minerals and agriculture. FNCCI’s Senior Vice-President Bhaskar Raj Rajkarnikar led the FNCCI team while the Vice-President of China Council for Promotion of International Trade (CCPIT), Gaungdong Luo Bingzhi, led the Chinese delegation in the meeting. The meeting further discussed the possibilities and ways to lower Nepal’s trade deficit with China. FNCCI decided to utilize the customs duty waiver given by the Chinese government on various 4,721 Nepali goods. </p>', 'published' => true, 'created' => '2013-03-14', 'modified' => '2013-03-14', 'keywords' => '', 'description' => 'A visiting business delegation of Chinese investors has shown interest to invest in Nepal. In a meeting with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the visiting delegation held talks on bilateral trade relationship and on possible Chinese investment in sectors such as tourism, infrastructure development, hydropower, minerals and agriculture.', 'sortorder' => '683', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
