…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
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' => '404', 'article_category_id' => '31', 'title' => ''Nepal Is Mature Market For Notebooks' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> Albert Tung is the Regional Director for India and SAARC Region of Asus, a Taiwan-based computer manufacturing company. He was in Nepal recently to attend a dealers’ meet of his company. Asus is gaining momentum in computer products and IT sector worldwide and is claimed to be number three for notebooks in consumer segment and number one in motherboards, worldwide. In an interview with New Business Age, Tung talked about the company’s strengths and strategies for Nepal. Excerpts:</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>What was the purpose of this dealers’ meet in Kathmandu?</strong></div> <div style="text-indent: 0in; text-align: justify;"> We have come from Taiwan for the Asus dealers’ meet in Kathmandu which has participation from all our major dealers here as well as some from Bangladesh. Through this event, we wanted to appreciate our dealers for their efforts. During the meet, we updated dealers with product knowledge and apprised them of our products’ performance worldwide. With the conclusion of this meet, we are encouraged to work harder in this market.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <b>What are the potentials of Asus products for the Nepali market?</b></div> <div style="text-indent: 0in; text-align: justify;"> We see good potential for our growth in the Nepali market. We need to work with our partners more closely to have better business. Asus has always emphasised on superior product and quality design. Though we are fairly new in Nepal, we are working hard to introduce our products among the targeted consumers here. The competition is tough as established rivals like Apple are already ruling the market. I have learnt that it’s a mature market for notebooks. So, even though we are primarily known for motherboards, the challenge is to introduce our notebooks to the end users.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>What distinguishes Asus from its competitors?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Asus is basically a motherboard manufacturing company. All computers require CPU and motherboard and worldwide, Asus is number one in motherboard technology. This is where our core competence lies. For example, while purchasing a good notebook, you should not only consider the brand but the technology inside as well which is vital.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How strong is Asus’ international market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Asus leads the market worldwide when it comes to motherboard which is a very important component inside a PC. Encouraged by our top position with motherboard technology, we have also achieved number three position in consumer segment for notebooks worldwide. We want to continue the good work and lead the market for as long as possible.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Do you have any specific strategies in mind to penetrate the Nepali market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">We have been in this industry for 10 years in notebook and 20 years in motherboard technology. For the Nepali market, our strategy is to cooperate with the local partners here and tell them about our superior product quality, service and technology. Besides commercial advertising and branding, we are focused on taking care of our product quality once the consumer starts using it. Our simple strategy is to penetrate the market with honesty. We want the market to know that they should select an Asus product for its quality technology.</span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Computer technology is changing rapidly. How challenging is it to maintain a competitive edge in the market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Computer technology is changing with new technologies related to CPU, memory and other specifications coming up quite frequently. At Asus, we have the confidence because of our technology and the expertise in designing a motherboard. We know we have an edge in the market because of the support from our proven motherboard technology.</div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Albert Tung is the Regional Director for India and SAARC Region of Asus, a Taiwan-based computer manufacturing company. He was in Nepal recently to attend a dealers’ meet of his company. Asus is......', 'sortorder' => '319', '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' => '403', 'article_category_id' => '31', 'title' => ''We Want To Be Ready When The Economy Takes Off' (2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> Ali Jaleel is Dell’s General Manager for South Asia Developing Markets Group. He heads the Growing Economies business and looks after the markets in 20 countries including Pakistan, Bangladesh, Sri Lanka, Brunei, Nepal and Mongolia. He was in Nepal recently to launch Dell Inspiron R series laptops. In an interview with New Business Age, Jaleel shared his views on Dell’s position and prospects in the Nepali market. Excerpts:</div> <div style="text-align: justify;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">You have just launched your new Inspiron R series laptops in Nepal. How will this launch boost your outreach plan to penetrate Nepal’s consumer computer market?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are very excited to launch this particular product which we also call the queen series. It is unique because you can actually change the lids and use various designs as per your liking. We are hoping that we will see very positive response for this product. The infrastructure is also quite developed with Gen Next (Generation Next Communications) as our partner and reseller here in Nepal. We now have outlets at locations that were not there before.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">What made the Gen Next, your partner here, win the award of Dell’s most valuable partner for Nepal?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">They have been very impressive and done all the right things. They focused not just on sales but also on after sales, on above the line (ATL) activities, growing the market outside Kathmandu etc. Therefore, we feel they have the right ingredients. Along the way, we are going to learn new things from them and I am sure they too are going to learn from Dell. We both feel that it is going to be a long-term relationship. Nepal is a strategic market for us and we want to be ready when the economy takes off.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">As for the awards, our partners from South Asia and Korea join us in various locations once a year. It is usually in Malaysia or Singapore because our regional headquarter is in Singapore and factories are in Malaysia. We have started a tradition of selecting partners on the basis of extraordinary performances. This is where Gen Next was selected for their stand out performance and awarded with Dell’s most valuable partner for Nepal.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">How is your experience in the Nepali market so far?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We have been here for many years actually but mostly in an enterprise-way and not in a direct one. We have started making investments here only about six months ago. Gen Next is relatively new for us here but our business has really taken off in the last year or so. Nepal is a good market for us where our business has been growing steadily. There are a couple of very positive signals – one is that the economy is very resilient and the other is, when exponential growth happens, it is good news for all organisations that have invested.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">Who are your major competitors in the local market and where do you stand vis-a-vis the competition?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We would consider HP to be our closest competitor. We are competing with Acer and Lenovo in consumer base and IBM in the enterprise base. It is actually good to have competition because it keeps everyone on their toes and focuses on consumers’ interests first.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">What gives you the confidence that the New Inspiron R Series will hold its own in the market that’s already flooded with similar products? How do you plan to position yourself in the market for this particular product and establish brand identity?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are very confident about the product and the quality. The innovation we have put in is something very unique. We are quite confident that it will find its own niche, build a loyal customer base and do us good. When you talk about a product, it is important to have different ranges because people have different requirements. Some may like a 12-inch screen while some other prefer a 15-inch screen. Therefore, we have positioned this particular product by giving options of varied screen sizes. They also have the option of making their notebook look different according to their mood. The reception has been very positive during its launch in some other countries a few weeks prior to that of Nepal. It is now available in Pakistan, Bangladesh, Malaysia, India and China besides Nepal.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are already showing our intent to grow here and you must have started seeing it already. This is just the beginning for this particular product. Technology moves very fast so we have to keep focusing on the Dell brand. And under Dell, we have to keep focusing on Inspiron as well as other products. We will continue to appear above the line to establish brand identity.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">How do you assess the Nepali market overall? What are your expectations from the market in the foreseeable future?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">Overall, I was very impressed with the sophistication of some people I spoke to. They are very well informed. In enterprise base, customers from various industries know exactly where they want to be and the technologies they want to embrace. This is very good because it means half the work is done since we don’t have to educate the customers who are already very informed. Similarly, people seem to be quite well informed about technology in consumer base as well. The young generation here is very internet savvy and has all the information. As a matter of fact, they ask questions about technologies which are not yet available in Asia which is really interesting. These technologies are either introduced or are being planned to introduce in countries like the US. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="text-align: justify;"> <span style="font-size: 8.5pt; line-height: 115%;">We do feel that we will continue to have organic growth which is fine with us because we are making the investments now. We are hoping that once the elections happen and a new government comes in, there will be more projects. A good number of projects especially on the government side are something we are eager about. That will definitely help us grow exponentially because right now, our growth is pretty organic.</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Ali Jaleel is Dell’s General Manager for South Asia Developing Markets Group. He heads the Growing Economies business and looks after the markets in 20 countries including Pakistan, Bangladesh, Sri Lanka........', 'sortorder' => '318', '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' => '402', 'article_category_id' => '31', 'title' => ''We Must Use Land In A Very Discretionary Manner' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 11pt;">World-renowned architect Hafeez Contractor was in the city to launch his first project in Nepal called Westar Skyliving -- a twin-tower apartment block close to Hotel Soaltee Crowne Plaza in the heart of the city. Targetted at the high-end clientele, this 14-storey luxury high-rise apartment project on 7.10 ropanis will have 77 percent of the project area reserved for open space and water bodies. Contractor is a member of Bombay Heritage Committee and New Delhi Lutyens Bungalow Zone Review Committee. After completing his graduate diploma in architecture from Academy of Architecture in Mumbai, he finished his graduation and MS in Architecture from Columbia University, New York. Among other projects, Contractor has also designed The Imperial I and II, the tallest buildings in India. His projects are spread across India, South Africa, UAE and the US among other countries. In an interview with Pinaki Roy of <i>New Business Age</i>, Contractor talked about Nepal’s transforming skyline and the housing industry. Excerpts:</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">What is your assessment of the housing industry in Nepal?</span></strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">We are facing shortage of houses in Nepal and India. Not only that, housing shortage will be greater in the days to come with rising population and more people moving into the cities. Therefore, we have to find a way out to deal with the problem of housing shortage. We should discourage the individual housing system in every South Asian country including Nepal. The land is ever decreasing with construction of stand-alone houses and the truth is that we can’t produce additional land.</span> There is an immediate need to redevelop old buildings here. By doing so, taxation levels can be increased and the cities can get rich. The cities can then plough money into infrastructure which is most important.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: 0pt;">Tell us in brief about your association with Westar Skyliving. </span>I am interested in Nepal because apartment culture has been developing here of late. The people buying these apartments should be offered hassle-free living conditions and I hope my expertise of over 30 years will help fulfil this objective. This particular project ‘Westar Skyliving’ was proposed to me by its promoter Golyan Group and it interested me due to its international standards. With my involvement in this project, I want to demonstrate innovative ways of designing and executing an apartment project.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">Given the fact that Nepal falls in the Seismic Zone 5, how do you view the increasing construction of high-rises here?</span></strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">The fact remains that high-rises are a very important today because we have a restricted amount of land. And, we have to make use of the land in a very discretionary manner. Up till now, we have been wasting land by keeping open spaces where we can do nothing. We need proper, large green spaces and we have to think about our subsoil water which is going down because of the indiscriminate growth of our cities. The water gets washed off and does not percolate down. High-rises are very important indeed and it is equally important for the people involved to build high-rises in the right manner. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> Earthquakes are going to come some day or the other so we should be better prepared for that. Design and construction of skyscrapers should be as per the code otherwise we are in big trouble. I feel the government should take a very firm stand against people who are not adhering to this. In the event of an earthquake, buildings may collapse because the builders may not have designed the buildings as per earthquake loads. Suddenly, the media and everyone else will start saying that high-rises are bad.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">Will you be involved in more Nepali projects in the foreseeable future such as public structures and slum redevelopment?</span></strong></div> <p style="text-align: justify;"> Yes, definitely. Besides working with the private sector, I will be looking for opportunities to work with the government as well. The government must look at providing sustainable housing options to the citizens of this country. It’s sad but true that despite having tremendous potential, the apartment business has not registered the desired growth in Nepal. We must look to introduce easy apartment systems that will accommodate large number of people under single roof. I will be working in this direction in Nepal.</p> <p style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">What’s your recommendation for the Nepali architects? </span></strong></p> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">I have come to Kathmandu after 2-3 years and I saw a lot of glass buildings. I would be very happy if a touch of local architecture and materials are given to the buildings being constructed. It happens that while living in one region, we like what is there in the other region. This phase will go away with time and you should let it happen. You should maintain old buildings because heritage is extremely important.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'World-renowned architect Hafeez Contractor was in the city to launch his first project in Nepal called Westar Skyliving -- a twin-tower apartment block close to Hotel Soaltee Crowne Plaza in the heart..........', 'sortorder' => '317', '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' => '401', 'article_category_id' => '31', 'title' => ''Nano Will Make Motoring Affordable In Nepal' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt;"><strong>Johnny Oommen</strong> is the Head of International Business, Passenger Car Unit for Tata Motors Limited. Oommen has a proven track record in bottom-line results, strategic marketing, problem solving and people management. He has also worked for top brands like BMW, MINI, Rolls-Royce, General Motors India and even Sony Entertainment Television. Oommen was in Kathmandu last month to launch the much-awaited Nano car in Nepal. In an interview with <i>New Business Age, </i>he shared his views on Nano’s market prospects and its suitability for the Nepali roads. Excerpts:</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Nano is now in Nepal. How do you feel about it?</strong></div> <div style="text-indent: 0in; text-align: justify;"> It is a momentous occasion for us. When we launched the Nano in India nearly two years ago, we were clear that a product like Nano will find its way to markets that are closer to India. Nepal, as you can see, today is one of the earliest markets outside India that we have decided to hit with Nano. We are very optimistic and confident that Nano will find acceptance across Nepal.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How is the car doing in India?</strong></div> <div style="text-indent: 0in; text-align: justify;"> We have principally launched in India and Nepal is one of the earliest markets outside India. In India, the car has stabilised and is doing quite well. We initially had supply problem then we went into producing as much as the pipeline demand we had. Today, we have really expanded production and distribution capacity and we have 617 dealerships and sales point in India. We are going to introduce 300 exclusive Nano outlets in the coming month. So, the Nano is definitely looking good in terms of results in India.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>In Nepal, Nano is going to cost much higher than in India because of high tax rates. How do you see that?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Well, even in India, the pricing has moved up because of increase in import cost, material cost and distribution cost. So, today Nano is more expensive than it was two years ago. In Nepal, the duty and tax structure is such that there is 240 per cent increase over the price that we have in India. Despite that we are able to bring the Nano into Nepal in extremely attractive price. We believe that despite all that multiplier, we are offering a product that will make motoring affordable to a lot of Nepali population. Just to give you an example, starting price of the Nano Standard is Rs 798,000. Thanks to the tie-ups, we have got into with as many as 10 banks, we will be able to, for instance on the Standard, take a down payment of Rs 10,000 and work out a monthly instalment of Rs 11,111. So, that is a very attractive proposition. I think we are only adding to the expectation around Nano being a very affordable, acceptable motor.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Do you have any volume-wise target sales for Nepal?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Sky is the limit. We are looking at various segments. We believe as a car, it has potential for people who are currently without a car. Let’s say they are using two-wheelers. We are looking at the people who have just started working, first-time job holders, young couples, small families, and of course people who already have one or two cars and are looking at additional small vehicle in the family. We believe, if we look at each of these segments, there is a lot of potential and we have increased production capacity in India so we are in a position to fulfil the demand in the Nepali market.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How do you see the Nepali market demand for cars, especially for Nano?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Even though the industry for a couple of years may not have grown as per the expectations of most of the automobile manufacturers and even the Nepali economy, we believe that the Nano is a product so attractive, packed with features like space, compactness, safety, manoeuvrability and fuel efficiency, all these are extremely attractive points. We believe with all these, it should be able to attract far more people in Nepal. We believe in creating a new segment. While people may be considering other cars, it will draw new people into the world of motoring. In that sense, it is really a limitless kind of thing. It is difficult to predict but our expectations are high.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How did you find the reaction of people here after the soft launching and beginning of Nano Yatra?</strong></div> <div style="text-indent: 0in; text-align: justify;"> So far, it has been overwhelming. We have received more than 5,000 enquiries, which is not a small number. It is very encouraging. We are only looking forward to actually start delivery. We will be announcing booking today and hopefully within a month’s time we should be able to start delivering.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Nano is the cheapest car in the world. How was it possible to make a beautiful car in such low price?</strong></div> <div style="text-indent: 0in; text-align: justify;"> The perception of cheapest car might have a lot of people believing that we must have cut corners or compromised. The truth is that Nano is the result of intelligent innovation. We have designed the car in a completely new way so that we were able to rethink how to manage cost and a lot has been done without making compromises. In terms of compactness, it is eight per cent more compact than the closest competitor. In terms of space inside, it is 21 per cent more spacious than closest competitor. In terms of gradability, it is as good as any other competitor. In terms of ground clearance, it is as good as or better than cars in one or two segments above the Nano. In terms of fuel-efficiency, the Automotive Research Association of India has certified fuel-efficiency of 23.6 kilometres per litre. Even in city driving that becomes around 20 kilometres per litre. It is still by far the best among others in Nepal. So, all of this is what we call innovative. These are all important to the customers and in fact they are better than what competitors offer. We have been able to do this in lower costs and that is what we would like to gift Nepal today.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Sometime back, there were questions raised on the safety of Nano because there was abrupt fire on board. How has the company addressed the safety issue?</strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.05pt;">On the couple of incidents that happened, I must inform you that essentially they were to do with placement of some foreign object in the car. We can only certify that the Nano is an extremely safe product. It has been built with the highest standards of quality and after these couple of incidents; we actually improved whatever we needed to ensure that any such acts of unauthorised placing do not happen. It is difficult to expect any such incidents in the future. After those incidents happened, notwithstanding the fact that we knew Nano is a safe product, we submitted the car to a fresh investigation of design and everything in entirety. That investigation team included experts from outside Tata Motors so that it is a completely new investigation. You can often be blind to certain things because you believed the product for six to seven years is absolutely a safe product with the robust design and state of the art innovation. Despite our researches and belief, later we decided to make the robust car even more robust. We made enhancements to make it even more robust.</span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> As a testimony of our confidence in the product, we are offering for the first time in the Nepali market, a four-year or 90 thousand kilometre warranty. Nobody else does that. We are extremely confident about the product and I think this warranty provision itself certifies the fact that we believe in safe, sturdy and robust car.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Given the hilly terrain and not so perfect roads even in cities, is Nano the right car for Nepal?</strong></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Nano Yatra has been going on for a month now. It has covered around six thousand kilometres. That is not very long distance but we are glad to report you that it has performed extremely well. It is very robust and sturdy. It has gone across Nepal and we still have a lot of territory to cover. We will be doing 40 thousand kilometres. We are very confident that it will prove itself because we have extensively tested the car in India. The car has been driven on the highest motorable road in the world, Khardungla. We have gone across terrains and we are confident that the same performance that Nano has shown elsewhere will be shown in Nepal. Given the hilly terrain and narrow road, there could be nothing perfect than Nano. Its small size and its gradability makes it really perfect vehicle for Nepal.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Johnny Oommen is the Head of International Business, Passenger Car Unit for Tata Motors Limited. Oommen has a proven track record in bottom-line results, strategic marketing, problem.......', 'sortorder' => '316', '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' => '400', 'article_category_id' => '42', 'title' => 'Budget Hopes (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <i><span style="font-size: 8pt; line-height: 120%;">By Bikram Chitrakar</span></i></div> <div> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">N</span><span style="font-size: 9.5pt;">epal's stock market has started showing some hopeful signs in recent days though during the month till mid-June it was falling down a precipice. The benchmark Nepse index plummeted 43.38 points or 14.29% to settle at 303.53 on June 16. The highest points in the review period was on 18 May (346.91) and the lowest was on 15 June at 292.32, which is lower that what it was on 25 Jun, 2005 (292.47). </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Nepse plummeted after a panic spread across the banking and financial institutions due to liquidity crunch and bad governance. The governance crisis which had started from Nepal Development Bank two years ago and spread to Samjhana Finance Company gripped Gurkha Development Bank and Nepal Share Markets as well. Recently, most of the banks and finance companies are suffering liquidty crisis and they are turning to Nepal Rastra Bank (NRB) for help. NRB has opened refinancing facility to address the problem. Under this facility, there is a provision to provide refinance up to 60 percent of the core capital of the banks and financial institutions.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">During the review period, the Securities Board of Nepal (SEBON) introduced the mutual fund regulation, CDS regulation and Credit Rating Agency regulation. However, all these failed to uplift the market which fell to six years low. Therefroe, the government has urged cash rich public sector instituions namely Employees Provident Fund, Citizens Investment Trust (CIT), Rastriya Beema Sansthan and Nepal Telecom to invest in the secondary market and create demand for shares so as to boost up the market confidence.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The result has been that the market surged 60.87 points during the week 16-23 June. Also the hope that the government’s budget for the coming fiscal year that starts on mid-July will be presented to the parliament in time has helpd in the latest surge in the market. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Delay in presenting the budget for fiscal year 2010/11 is cited as the prime reason for the liquidity crunch. Due to that delay, a massive sum of Rs 30 billion in the government budget is likley to freeze as the government is not able to speed up expenditure. The delay in the current year’s budget was due to obstruction of the parliamentary proceedings by the then main opposition party UCPN-UML. But the present main opposition party Nepali Congress has indicated that it will not cause obstruction in the parliamentary proceedings related to budget approval.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="">Performance by Sector<br /> <br /> </span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">During the review period, the banking sector which holds the major share in the volume of trade in Nepal Stock Exchange plummeted 57.20 points or 23.02% to close at 248.44. Hydropower sector lost 178.81 points or 36.85% to settle at 485.3. Insurance sub-indices descended 25.25 points along with 23.96 points decline in the trading companies group. Similarly, development banks declined 20.89 points or 7.52% to 277.8. Hotel sector receded 14.70 points or 3.67% to rest at 400.35. Finance sector slumped 9.58 points to close at 295.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Sensitive index that measured the performance of 117 blue chips scrip at the secondary market lost 11.03 points or 14.75% to 74.8 while, the float index calculated on the basis of real transaction lost 4.10 points to arrive at 25.15. Total of Rs. 426328626 was realized during review period from 1987186 units of share traded via 25826 transactions.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The accompanying figure depicts the sector-wise distribution based on the total volume of trade. Commercial bank has occupied the highest share of trade - 48.90% while Development Bank group accounted for 16.52% and hydropower sector 14.97%. Similarly, finance sector’s share was 8.32% while the remaining sectors covered the rest.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Technically, Simple Moving Average (SMA) is dominating the market in the short term as well as in the long term as both 30 days SMA and 200 days SMA are performing poor. Similarly, the Nepse index is bending which will suggest further fall if it fails to stabilize near 300. But since the June 16-23 week has pulled the index up to 364.4, the market has become optimistic again.<br /> <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <i><span style="font-size: 9.5pt;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)<br /> <br /> </span></i></div> <div> <i> </i></div> <div align="center"> <span style="font-size: 10.5pt;">Movement in Indices (18 May - 16 June 2011)<br /> <br /> <br /> </span></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.45pt; border-collapse: collapse;"> <tbody> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-color: rgb(204, 123, 74) white white rgb(204, 123, 74); border-style: solid; border-width: 1pt; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="94"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Indices</span></b></span></div> </td> <td style="width: 39.35pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="52"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Open</span></b></span></div> </td> <td style="width: 38.65pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="52"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">High</span></b></span></div> </td> <td style="width: 40.1pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="53"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Low</span></b></span></div> </td> <td style="width: 38.05pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="51"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Close</span></b></span></div> </td> <td style="width: 37.75pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="50"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Change</span></b></span></div> </td> <td style="width: 47.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="63"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">% Change</span></b></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Nepse</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">346.91</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">346.91</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">292.32</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">303.53</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-43.38</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.29</span></span></div> </td> </tr> <tr style="height: 14.9pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Bank </span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">305.64</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">305.88</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">234.01</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">248.44</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-57.20</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-23.02</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Sensitive</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">85.83</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">85.98</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">71.7</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">74.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-11.03</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.75</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Development Bank</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">298.69</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">299.37</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">277.7</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">277.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-20.89</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-7.52</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Hydro</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">664.11</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">664.11</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">473</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">485.3</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-178.81</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-36.85</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Finance</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">304.58</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">304.58</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">295</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">295</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-9.58</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.25</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Insurance</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">426.05</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">426.05</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">398.1</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">400.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-25.25</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-6.30</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Hotel</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">415.05</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">415.05</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">398.66</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">400.35</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.70</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.67</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Manufacturing</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">504.17</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">504.17</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">483.25</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">501.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-2.37</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-0.47</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Tradings</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">265.96</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">265.96</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">241.97</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">242</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-23.96</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-9.90</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Others</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">477.04</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">486.44</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">430.1</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">460.6</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-16.44</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.57</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white rgb(204, 123, 74) rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Float</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">29.25</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">29.25</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">24.3</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">25.15</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-4.10</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-16.30</span></span></div> </td> </tr> </tbody> </table> <p> </p> <p> </p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-09-16', 'keywords' => '', 'description' => 'Nepal's stock market has started showing some hopeful signs in recent days though during the month till mid-June it was falling down a precipice. The benchmark Nepse.......', 'sortorder' => '315', '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' => '399', 'article_category_id' => '45', 'title' => 'Corporate Movements July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>New comers<br /> <br /> <br /> Yogesh Dhakal </strong>has joined Full Bright Consultancy Pvt Ltd, Maitidevi, as IT Manager. Earlier, he was ICT (Information and Communication Technology) Chief at Hydro Solutions P Ltd, Swayambhu.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Raju Dhoj Thapa</strong> has joined Bhancha Ghar as General Manager. Earlier, he was a Hotel and Restaurant Consultant.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Sandeep Kumar Rai </strong>has joined Casa Toscana as Sous Chef. Earlier, he was Chef De Pati at The Oberai Raj Villas, Jaipur, Rajasthan, India.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Pradeep Khanal </strong>has joined Kist Bank as Head-Risk Assessment Department. Earlier, he was Branch Manager at Everest Bank's Pulchowk Branch.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Prakash Baral </strong>has joined Kist Bank as Risk Manager Credit Risk CA Department. Earlier, he was Manager of Lending department at Nepal Bank Limited, New Road.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Madan Rauniyar </strong>has joined Emami Limited as National Sales Manager for Nepal, International Business Function. Earlier, he was Country Manager at Cavin Kare Pvt Ltd.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Manoj Bhattarai</strong> has joined DCBL Bank Ltd as General Manager. Earlier, he was CEO of Nepal Life Insurance Company.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Pradeep Kumar Shrestha</strong> has joined Tinau Development Bank, Butwal as General Manager. Earlier, he was Branch Manager at Sewa Bikas Bank Ltd, Butwal.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Yadav Bhattarai </strong>has joined Janata Bank Ltd as Branch Manager of Butwal branch. Earlier, he was Operation In-charge at Global Bank Ltd, Butwal.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Neeraj Kumar</strong> has joined Sumy Distillery as General Manager. Earlier, he was a Director with Marketing Access.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Aditi Shrestha</strong> has joined International Finance Corporation (World Bank group). Earlier, she was associated with Beed Management/ Beed Invest.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Murari Gautam</strong> has joined Marigold IT Solution Pvt Ltd as Managing Director. Earlier, he was with Nepa Hima Trade Links Pvt Ltd as Deputy Marketing Director.<br /> <br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><u><strong><i>Promotions<br /> <br /> </i></strong></u></span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Rajendra Subedi </strong>has been promoted as Acting CEO of Pashchimanchal Development Bank, Butwal. Earlier, he was the Assistant General Manager there.<br /> <br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><u><strong><i>Transfers<br /> <br /> </i></strong></u></span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>P R Mishra </strong>has taken charge as CEO of Life Insurance Corporation Nepal Ltd in place of P Muraleedharan who has been transferred to National Insurance Academy, Pune as Faculty Manager. </span></div> <div> <span style="font-size:12px;"><br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-08-31', 'keywords' => '', 'description' => 'Yogesh Dhakal has joined Full Bright Consultancy Pvt Ltd, Maitidevi, as IT Manager. Earlier, he was ICT (Information and Communication Technology) Chief at......', 'sortorder' => '314', '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' => '398', 'article_category_id' => '38', 'title' => 'Environmental Sustainability July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12.5pt;">B</span>lue Ocean Systems (BOS) is committed to generate awareness and bring about substantial changes towards environmental sustainability. In this context, BOS organized a day-long hiking trip to Shivapuri titled Team Building towards Sustainability on 15th April this year. It was a team building event with the sole purpose of cleaning up the waste in the Shivapuri Mountain.</div> <div style="text-indent: 0in; text-align: justify;"> <br /> </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.25pt;">Though the event was a fun-filled one, it was heartbreaking to see the Shivapuri's beautiful surroundings marred by waste left behind by hikers and picnickers. This careless garbage dumping has attracted many pests and contaminated the nature's reserve. There were food wrappers and plastic plates with food remnants lying around which not only disturbed the beauty of the place but also hampered the eco system of the area. </span></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.25pt;"> <br /> <br /> </span></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">BOS team successfully accomplished the Shivapuri summit clean-up plan by managing to collect the garbage in Shivapuri hill area in less than 30 minutes. At the end of the cleaning exercise, we asked ourselves, Why couldn't people clean their own waste? If every visitor to the park acknowledged their responsibility to preserve the national park by adhering to cleanliness, Shivapuri Mountain would be a magnificent place for all visitors. </span></div> <div style="text-align: justify;"> <br /> </div> <div style="text-align: justify;"> We thought of recommending the following tips to hikers for making their tour worthwhile without compromising on the fun.</div> <div style="text-align: justify;"> <br /> </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">BOS shall continue to work towards keeping the environment clean and invites people who wish to use our services to work with us. Together, we can ensure environmental sustainability alongside our various professional tasks.<br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2013-05-24', 'keywords' => '', 'description' => 'Blue Ocean Systems (BOS) is committed to generate awareness and bring about substantial changes towards environmental sustainability. In this context, BOS organized a......', 'sortorder' => '313', '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' => '397', 'article_category_id' => '38', 'title' => 'Prepare Yourself With SAP July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in;"> <i>By Aparajita Acharya</i></div> <div> <br /> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 14.5pt;">E</span><span style="font-size: 9.5pt;">fficiency has become a key factor in today's fast paced business scenario. The trend projection suggests that businesses shall get even more competitive in the days to come. And obviously, as businesses get bigger, they will require more professional systems to stay together and prosper. This is where SAP business solutions come in. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">The demand for SAP trained individuals is increasingly on the rise with SAP becoming one of the most sought-after ERP business solutions today. As every individual appraises his/her own credentials and adaptability in today's cut-throat global competition, companies hire and fire largely mindful of the flexibility, competence and productivity of their staff. Therefore, the question is that of acquiring competence which helps understand businesses in their essence. You must find ways to assure that you never become outdated and easily adapt to the new needs of the growing market.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">Companies try to find people who are already well trained when new recruits are needed to fit into multiple roles. So it becomes essential that you are precisely trained to be saleable in the job market. Among many ERP business trainings on offer, SAP training makes you fit to carry out a multitude of roles and helps you become proactive in understanding business processes and flexible to market requirements. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">Armed with a SAP training, you will be already qualified to kick start your career at a higher level in established companies despite entering the market at a young age. SAP training has assured various locally trained consultants with excellent placements in successful organizations as an increasing number of companies in Nepal advance towards ensuring economical output of a required quality. However, this is definitely not the end of it all.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">A peek at the global job market illustrates an increasing appeal for SAP trained professionals. The US, Australia and Germany are among countries that consistently seem to have high number of positions available for SAP trained individuals. Other countries such as the UK and The Netherlands which look for comparatively less number of SAP trained employees offer equally lucrative salaries to these sought-after consultants, architects and experts.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">You can either undertake a complete course for SAP or choose to learn only the modules that support your job needs. Among the different SAP modules, those trained in FI, CO, CRM and BI (Business Intelligence) currently seem to be in great demand in the global market. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> </div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">If you wish to go about chiseling your expertise to match market requirements, a SAP training ensures that knowledge in any business area you wish to participate in, is as good as hands on experience. It helps you carve a niche for yourself in the midst of aggressive competition. Backed by SAP, you can be assured that you have exactly what everybody is looking for whether you decide to work abroad or closer home.<br /> <br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2013-05-24', 'keywords' => '', 'description' => 'Efficiency has become a key factor in today's fast paced business scenario. The trend projection suggests that businesses shall get even more competitive in the days to come. And.........', 'sortorder' => '312', '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' => '395', 'article_category_id' => '39', 'title' => 'Etihad Airways: Fly With The Best - July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">E</span><span style="font-size: 9.5pt;">tihad Airways is the National Airline of the United Arab Emirates (UAE). It has established itself as the world's leading airline in less than eight years. The airline was set up by a Royal (Amiri) Decree in July 2003 with UAE's capital Abu Dhabi as its hub. It commenced commercial operations in November 2003 and has gone on to become the fastest growing airline in the history of commercial aviation. The airline's near-term focus is on breaking-even in 2011 and moving into sustainable profitability in the following year. Etihad began daily flights to Kathmandu, Nepal on 28 October 2007 and maintains its corporate office at Yak & Yeti Office Complex in Durbarmarg. We are happy with our success here in a short span of time and hope to increase our flight frequency sometime later this year, says John Rees Evans, Etihad's Country Manager for Nepal. He adds, Nepal is primarily a labour oriented market but there is tremendous potential in the business and leisure traveller segments as well.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It has partnered with Gokarna Forest Resort (golf) and Dwarika's Hotel (ancient cultural heritage) locally to entice travellers from the Middle East to spend quality time in Nepal. Etihad carries out its sales functions through affiliated travel agencies in Nepal and encourages them by acknowledging their contributions as well as providing them incentives. It also indulges in indirect marketing with popular brands such as Coca-Cola and Suzuki for brand enhancement. The popularity of Indian television channels certainly helps with its spill over advertising effect in Nepal Etihad's TV promotional has brand ambassador Katrina Kaif appearing in a dance sequence at the first class lounge. A number of airlines from the Middle East enjoy a strong presence in the Nepali market. Our competitors have been operating in the market for a longer period than us but we have our own niche market to cater to, Evans exudes confidence about holding his own with the competition.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Evans believes in treating people the way he wants to be treated himself. He has been in Nepal for nine months now and calls it a pleasant experience. The employees here in Kathmandu that works with me are surprisingly good and very enterprising people, He said. He lets people perform their best and believes in leading by example. He asserts that Etihad being a relatively new entity has its own advantages. We don't have the baggage like some other international airlines and enjoy reasonable freedom, he tells. Looking at growing the market, Evans is buoyant about the current legislation of own <span style="letter-spacing: 0.05pt;">handling at Tribhuvan International Airport (TIA). He is particularly positive about Nepal's only international airport beginning 24 hours operation anytime soon.<br /> <br /> <br /> </span></span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">Etihad Nepal is working towards implementing fast track operations through its counters at TIA. As part of its endeavour, it has already established a separate counter for business travellers while checking-in at TIA. It also boasts of a shared executive lounge for business travellers operated by Hotel Radisson. We have plans to have chefs on board flights to cater to personal taste of our travellers, Evans states. The airline also provides attractive packages for Kathmandu flights by announcing news tariffs which are aimed at improving passenger satisfaction levels and contributing towards Nepal's tourism sector.</span></div> <div style="margin-top: 0.15in; text-align: justify;"> Etihad Airways-Nepal factsheet</div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Flight Details: Kathmandu (KTM) Abu Dhabi (AUH)</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> 7 days a week</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> Mon, Wed, Sat 5:30 pm and </span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> Sun, Tue, Thu, Fri 9:15 pm</span></div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Aircraft Model: Airbus A330-200 / A320 </span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> (as per availability)</span></div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Employees: 11 employees at the Corporate Office</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> 12 Ground Staff at TIA</span></div> <div style="text-align: justify;"> <br /> </div> <div style="margin: 0in 0in 0.0001pt 11pt; text-indent: -11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Motivated employees </span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Strong product and service</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Can Do approach</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Good connectivity through the busy Abu Dhabi hub</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Comparatively a new entrant</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Building density into the network</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Optimising the fleet and its utilisation</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Reaching profitability</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Planning for growth</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Continuing to innovate</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Frequent strikes</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%; color: black;"> Security issues<br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-10-04', 'keywords' => '', 'description' => 'Etihad Airways is the National Airline of the United Arab Emirates (UAE). It has established itself as the world's leading airline in less than eight years. The airline was set up by a Royal.....', 'sortorder' => '311', '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' => '394', 'article_category_id' => '39', 'title' => 'Etihad Airways-International(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt; letter-spacing: 0.1pt;">E</span><span style="letter-spacing: 0.1pt;">tihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st century global airline challenging and changing the established conventions of airline hospitality. Apart from providing a relaxing experience, it strives to make travel safe and environment-friendly by practicing the highest global standards in both these areas. The airline is constantly innovating, taking the smallest detail into account in its pursuit of excellence and perfection. The overall ambition of Etihad Airways is to be the best airline in the world. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Etihad is governed by a Board of Directors under the chairmanship of HH Sheikh Hamed bin Zayed Al Nahyan while the airline’s management team is led by James Hogan who was appointed as Chief Executive Officer in October 2006 to lead the airline’s continued successful growth and development. The ongoing redevelopment work at Abu Dhabi International Airport has significantly enhanced the experience for guests. The second runway, officially opened in October 2008, is part of a large scale UAE Dirham (AED) 25 billion redevelopment programme and expansion project at the airport. Terminal 3 at Abu Dhabi Airport, an exclusive facility for Etihad, was opened in February 2009 increasing the airport’s passenger handling capacity from five to 12 million passengers a year. The first phase of a Midfield Terminal Complex is due for completion in the next few years and will take the airport’s handling capacity to 20 million passengers. The airport will be capable of handling 40 million passengers by 2030 when the project is completed.<br />  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Fleet and network</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad’s fleet, among the youngest in the world, has 57 aircraft operating 1,032 flights per week serving an international network of 68 destinations in 45 countries in the Middle East, North America (New York, Chicago and Toronto), Africa, Europe, Australia and Asia (including Kathmandu in Nepal). In addition, Etihad has 30 code-share agreements in place, building the airline’s international network. As part of its long term vision, Etihad plans to operate in up to 100 major business and leisure destinations around the world by 2020. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">The airline announced the largest aircraft order in commercial aviation history at Farnborough International Air show in 2008, for up to 205 aircraft – 100 firm orders, 55 options (guaranteeing the price of the aircraft and the delivery date) and 50 purchase rights (guaranteeing the price of the aircraft but not the delivery date).<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">People and Company Growth </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Currently, close to 8,000 people work at Etihad Airways with the majority based in Abu Dhabi and the UAE. In order to meet Etihad’s predicted fleet, passenger and destination growth by 2020 – which plans for more than 25 million passengers to fly to more than 100 destinations aboard a fleet of 150 planes – the airline will need a workforce of approximately 27,000 people. In 2010, Etihad saw passenger numbers top 7 million (7.1 million passengers carried) for the first time and revenue passenger kilometres (RPKs) rise 20.1 per cent. Etihad’s revenue exceeded US $2.9 billion in 2010. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">On the ground, Etihad has introduced a range of services designed to make the travel experience as comfortable, smooth and fast as possible. It offers a range of convenient ground services, including Etihad Chauffeur, its premium limousine service available at 27 destinations globally, and premium lounges (370,000 lounge guests hosted) in Abu Dhabi, London, Frankfurt, Dublin and Manchester.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Etihad Guest</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.35pt;">Etihad Guest is an award-winning loyalty programme boasting over one million members to date. Launched in August 2006, the programme offers its members opportunities to accumulate Etihad Guest Miles which can be redeemed against a wide selection of over 1,800 flight and non-flight rewards from over 200 partners. Non-flight rewards cover a wide variety of categories from computer and electronic equipment to jewellery and lifestyle products. Each year, over 40 promotions are organised by the CRM and Loyalty department and communicated to all Etihad Guest members.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Sponsorships</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad supports a range of sporting and cultural events in the UAE and the world over. These sponsorships are consistent with Etihad’s values of hospitality and team spirit and helps bring Abu Dhabi to the world and vice-versa. Its major sponsorships include Etihad Stadium, Ferrari Formula 1 (F1) Team, Sport Australia Hall of Fame, GAA Hurling All-Ireland Senior Championship, Harlequins Rugby Football Club, F1 Etihad Airways Abu Dhabi Grand Prix and Manchester City Football Club.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Marketing </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">The airline’s marketing department plays a major role in taking the Etihad Airways story to the world. Etihad was awarded ‘World’s Leading Airline’ at the World Travel Awards in 2010 for the second consecutive year. It set the benchmark for the airline’s brand communications enabling Etihad to inspire its audiences through a range of campaigns to ‘fly with the best’. The same year, it launched an international television advertising campaign titled ‘He Likes, She Likes’ showcasing the airline’s continued investment in products and services and commitment to offering a tailored, personal experience for every traveller.</span><span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>An Award Winning Airline</strong></div> <div style="text-align: justify;"> Etihad has received a range of awards that reflects its position as the leading premium airline brand in the world. In its first seven years of operation, its range of local and international awards includes:</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2011 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Long Haul Airline – Irish Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2010 </span></b></div> <div style="text-align: justify;"> <span style=""> Airline of the Year – Aviation Business Awards </span></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline – World Travel Awards (second consecutive year)</span></div> <div style="text-align: justify;"> <span style=""> World’s Best First Class – Skytrax (judged by over 18 million air travellers worldwide in the annual Skytrax survey)</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2009 </span></b></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline - World Travel Awards (WTA) </span></div> <div style="text-align: justify;"> <span style=""> Best Airline to the Middle East / Africa - Irish Travel Trade News awards, Dublin </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2008 </span></b></div> <div style="text-align: justify;"> <span style=""> European Sponsorship of the Year Award - European Sponsorship Association </span></div> <div style="text-align: justify;"> <span style=""> James Hogan, Aviation CEO of the year - CEO Middle East awards (ITP) </span></div> <div style="text-align: justify;"> <span style=""> Best website www.etihadairways.com - Pan Arab Web Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2007 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Economy class catering award - Skytrax </span></div> <div style="text-align: justify;"> <span style=""> The Middle East’s Leading Airline - World Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2006 </span></b></div> <div style="text-align: justify;"> <span style=""> Middle East Airline of the Year - Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2005 </span></b></div> <div style="text-align: justify;"> <span style="font-size: 5.5pt;"> </span><span style="">Outstanding Food Service by a Carrier – Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2004 </span></b></div> <div style="text-align: justify;"> <span style=""> The World’s Leading New Airline – World Travel Awards</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="font-size: 13.5pt; letter-spacing: 0.15pt;">‘Essential Abu Dhabi’</span></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Etihad Airways has designated 2011 as ‘the year of Abu Dhabi’ with the launch of its ‘Essential Abu Dhabi’ destination marketing campaign. The campaign will see Etihad unveil a number of exciting promotional activities across the globe designed to enhance Abu Dhabi’s place as a top tourist and MICE (Meetings, Incentives, Conferences and Exhibitions) destination. All the major tourism operators in the emirate of Abu Dhabi have come together under one showcase umbrella for the first time to promote the very best UAE capital has to offer. The campaign is being supported by the Abu Dhabi Tourism Authority as a major partner. The programme is also targeting millions of passengers transiting through the Abu Dhabi hub, to entice them for a stopover in the city.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Etihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st.....', 'sortorder' => '310', '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' => '393', 'article_category_id' => '39', 'title' => 'ICFC: Going Steady(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of ICFC, claimed the company maintains liquidity of 28 to 30 per cent at any given point of time. “Maintaining liquidity is our key concern at present. We think of profitability only after we have maintained enough liquidity,†he explains. The company has made a net profit of Rs 27.19 million by the end of third quarter of the current fiscal year.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">After being registered in 2003, ICFC commenced its operations from July 17, 2004. “We started with a paid-up capital of around Rs 25.5 million before going public,†Pant shared. In its seven years of operation, the company has Rs 330 million as paid-up capital out of core capital of Rs 400 million.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant asserts that success did not happen overnight. He says, “We are always focused on our future plans and tread a cautious path while lending.†He added that the finance company is headed by professionals with long exposure and experience in commercial banking. Ram Babu Pant heads the company as the CEO and has served as Deputy Governor of Nepal Rastra Bank (NRB) in the past. The board of directors too comprise of influential members under the chairmanship of Suresh Kumar Agrawal.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> “The economic sector was booming and there were a lot of business opportunities when we began our service,†says Pant. He claims ICFC’s Credit to Deposit ratio is around 70 to 75 per cent. He adds, “We never focused on investment in a single sector since the beginning.â€<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">At present, ICFC has deposits of around Rs 3 billion and loans and advances amounting to Rs 2.45 billion. Therefore, the difference between loans and deposit is around Rs 550 million while cash in reserve is about Rs 1.05 billion. It lends mostly in trading, industry and education sectors and less in hire purchase and margin lending. Pant said the company has refrained from investing in land plotting and real estate though it does grant personal and home loans.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has eight branches including the main branch at Bhatbhateni. Pant tells that ICFC opens a new branch only after the previous branch reaches break-even . It has been launching a new branch every year in a phase-wise manner. He opines, “We are a finance company so opening multiple branches at once will be challenging to manage. We do want to upgrade our status. However, we have opted to wait and watch given the current state of the economy.†He thinks the current liquidity crisis is snowballing into a sort of credit crunch. “We must maintain a strong position with respect to liquidity as we are responsible for safeguarding our depositors’ interests,†he asserted.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC has been giving either dividend or bonus shares to its stakeholders every year on an alternate basis. “A cash dividend of 15 per cent was given last year while bonus shares were issued the year before,†Pant states.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The finance company offers its own ATM services at every branch. It is also linked to the SCT network which has around 1,500 ATM counters throughout the country. Pant says that customer satisfaction is the topmost priority at ICFC. “We provide all banking products and facilities offered by a conventional bank,†he claims. The company provides all banking services including mobile banking, SMS banking and Internet banking apart from locker facilities at some of its branches.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant distinguishes ICFC from similar institutions through its quality of services provided. “Everyone is doing almost similar things in the market but we are more focused on service delivery along with our bouquet of total banking services,†Pant explains.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes that banking industry largely depends on trust which should not be shaken at any cost. Therefore, the company has made corporate governance its top priority. Pant attributes the failure of some banks and finance companies to weak corporate governance rather than liquidity problem. Pant reassures ICFC was safe in the past and will remain safe in the future too. Its reputation has helped build a customer base of around 50,000 people.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC is increasing its access to micro financing through First Micro Finance Development Bank, of which it is a promoter. Little service differentiation between commercial banks and finance companies has led to competition between them. Pant feels that while competition is good and adds excitement to work, ICFC does not indulge in aggressive competition. He thinks customers are spoilt with choices today and are free to subscribe to better services and facilities offered by just any company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">A total of 85 employees work at ICFC Finance Limited. Pant says, “We give equal priority to all ICFC family members and ensure a sense of belonging and job satisfaction. We give our people a lot of independence and authority to meet these objectives.†He adds that the company’s uncompromising attitude in providing facilities at par with the competitors has helped ensure employee retention to a large extent.<br /> <br /> </span></div> <div> <span style="font-size: 9.5pt; line-height: 115%;">ICFC plans to achieve and sustain unprecedented growth in the future. However, it is eagerly waiting for policies that will come in with the new fiscal year. “We can then decide our future course of action,†Pant concludes.</span></div> <div>  </div> <div style="margin: 11pt 0in 0.0001pt; vertical-align: middle;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Team of experienced professionals</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Strong capital base</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity maintenance</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Total banking services</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Focus on service delivery</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Less number of branches</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Small capital size</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Huge market potential</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Services and branches expansion</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Investment possibilities</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity crunch in the market</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Political and policy instability</span></div> <div> <span style="font-size: 9.5pt; line-height: 115%; color: black;">Lack of investment environment</span></div> <div>  </div> <div align="center"> Unaudited Financial Results as of mid April 2011</div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.1pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td style="width: 91.95pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Particulars</span></b></span></div> </td> <td style="width: 99.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Third quarter ending (by mid April)</span></b></span></div> </td> <td style="width: 119.2pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Corresponding previous year third quarter ending </span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Paid up capital</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Borrowings</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">710,000</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">335,000</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Deposits</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">3,059,446</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,3 71,753</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Investments</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">189,835</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">139,468</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Loans and Advances</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,451,804</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,168,906</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Net Profit</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">27,196</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">41,964</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Non Performing Loan in percentage </span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.92%</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.49%</span></span></div> </td> </tr> </tbody> </table> <div align="right" style="text-align: right; text-indent: 0in;"> <i><span style="font-size: 7.5pt;">Source</span></i><span style="font-size: 7.5pt;">: ICFC Finance Limited</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of.....', 'sortorder' => '309', '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' => '392', 'article_category_id' => '39', 'title' => 'Story Of NIDC's Turnaround (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><b><span style="line-height: 120%;">Shanta Bahadur Shrestha</span></b></span></div> <div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 120%;">Chairman</span></span></div> <div style="text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 115%;">NIDC Board of Directors</span></span></div> <div style="text-align: justify;"> We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.</div> <p>  </p> <div> <table cellpadding="0" cellspacing="0" hspace="0" style="width: 1px; height: 15px;" vspace="0"> <tbody> <tr> <td style="padding: 0in; text-align: justify;" valign="top">  </td> </tr> </tbody> </table> </div> <p style="text-align: justify;"> <span style="font-size: 9.5pt;">Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs 1.41 billion in 2005-06, but it is now expecting a net profit of Rs 300 million in 2010-11. </span></p> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">“We are going to make profit this fiscal year and hopefully declare dividend also,†said Shanta Bahadur Shrestha, Chairman of NIDC Board of Directors and joint secretary at the Ministry of Finance, at the 53rd anniversary function of the corporation on June 15, 2011. Highlighting the recent achievements, company’s General Manager and Director Shivjee Roy Yadav noted that the company’s net worth per share that was a negative Rs 193.47 at the end of 2005-06 has now turned positive to Rs 192.87, by mid-April 2011.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Behind the newly-found optimism is a long story of struggle and perseverance. Set up in 1959, this first development finance companybloomed till the early 1990s before sliding into a financial mess. Eventually, the government on February 24, 2004, decided to stop this public enterprise from extending any new loan and to focus on just recovering its investments. The plan was to ultimately liquidate the company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Though the government decision was made on the basis of a recommendation from PriceWaterhouseCoopers, the company’s management was finally able to convince the government that it can be revived and the government stands to lose if the company is liquidated. Then, a new decision was made by the government on March 2, 2009, that allowed the company to work as a deposit taking institution. Thus, the company started functioning as a bank and this change made the company rise from its deathbed and re-establish itself as a vibrant financial institution. NIDC commenced its banking service from February 8, 2010, and now it is a major provider of funds in the inter-bank market, Yadav claims. Meanwhile, the company focused on recovery and sold some of its investments in stocks. As a result, it fully repaid all the loans it had to pay to the Nepal Rastra Bank and the government. “This is indeed an achievement,†says Yadav, Had the government gone ahead with the liquidation as per the PriceWaterhoseCoopers recommendation, the Nepal Rastra Bank and the government would not have got their money back. Rather, they were required to inject additional capital to clear various other liabilities of the corporation.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Today, NIDC has an authorised capital of Rs 1.20 billion of which Rs 600 million is issued and Rs 415 million is paid-up. Its non-performing loan has reduced to 75.6 percent by mid-April 2011 from 99.79 percent a year ago. This has further reduced to 70 percent by mid-June and the target is to reduce it further to 35 percent next year, says Yadav. This year’s revised estimate of the profit is lower than the initial estimate. The initial target was Rs 570 million but that could not be achieved as the plan to realise the loan of Himal Cement by selling the mortgaged assets could not go ahead. Similarly, the plan to sell the corporation’s shares in Nabil Bank and NIDC Capital Market could not implemented, explains Yadav. He expects to make these sales once the country’s property and share markets revive.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Established on June 15, 1959, the company’s mission is to contribute to industrialisation of the country through industrial project financing. Initially, established as a corporation under a special law the Nepal Industrial Development Corporation Act 1959, it was later registered under the Company Act and in 2006 it was made a national level development bank under the Banks and Financial Institution Act 2006.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">From its beginning to mid-April 2004, NIDC invested more than Rs 6 billion in 1,520 industrial projects in different parts of the country. The company estimates that in those projects about 80,000 people received direct employment while 350,000 others got indirect employment.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">NIDC today offers its banking services from its head office in Kathmandu and two regional offices in Biratnagar and Pokhara. The plan is to start banking services also from the Nepalgunj and Dhangadhi offices with approval from the central bank. Meanwhile, the company has started ATM services by setting up an ATM station at the central office and the plan is to set up ATMs in other branches as well in other places of Kathmandu. 9 AGMs in One Go<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">One major recent development of the company is the AGM held on May 7, 2011. It is a major development because there has been no AGM for last nine years from 2001-02 through 2009-10. From the next year, the AGM will be regular, hopes Yadav. One major decision taken at the AGM is to change the company’s name into NIDC Bank Ltd, subject to approval from the relevant authority. <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Currently 99.26 per cent of the corporation’s ownership remains with the government while 0.74 per cent stakes are with the public. Therefore, the company’s shares are not traded in the stock exchange though it is listed there. Presenting the annual report to the shareholders in the May 7 AGM, the company’s chairman Shrestha informed about the plan to issue shares through further public offerings so as to increase its paid-up capital.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Shrestha says, “We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.†</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">According to Shrestha, the company is also planning to offer services like 365 days banking, evening counter, Internet Banking, SMS Banking, Remittance Service, Mobile Banking among other new products. </span><span style="font-size: 6.5pt; line-height: 115%; color: rgb(237, 28, 36); letter-spacing: -0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="margin-top: 8.75pt; text-align: justify;"> <span style="font-size: 9pt;">Financial Statistics of NIDC as of third quarter of 2010/11</span></div> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6.5pt;">Rs in million</span></i></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 3.25pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td rowspan="2" style="width: 86.15pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Particulars</span></b></span></div> </td> <td colspan="6" style="width: 224.45pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="299"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Fiscal years</span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2005/06</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2006/07</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2007/08</span></b></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2008/09</span></b></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2009/10</span></b></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2010/11 by mid April</span></b></span></div> </td> </tr> <tr style="height: 12pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Paid-up Capital</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Net Profit</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(602.8)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.5</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">797</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">172.2</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">354.5</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.4</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Accumulated Profit (Loss)</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1416.2)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1347.3)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(595.5)</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(459.3)</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(179.4)</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(109.5)</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Reserves</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">195.9</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">213.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">372.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">407.3</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">478.2</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">495.6</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Networth/Share Rs</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(293.46)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(172.67)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">46.44</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.48</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">171.86</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">192.87</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Loan Investment</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1712.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1466.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1329.7</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1258.5</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1118.6</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1273.6</span></span></div> </td> </tr> </tbody> </table> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6pt;">Source</span></i><span style="font-size: 6pt;">: NIDC Press Release on the 53rd anniversary day. </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs..........', 'sortorder' => '308', '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' => '391', 'article_category_id' => '38', 'title' => 'Essentials Of Employees’ Learning Habits (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <i>By Kriti Bhuju </i></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">L</span><span style="font-size: 9.5pt;">earning is a prerequisite to growth. Both employers and employees need to enhance their knowledge, skill and ability for continuous organizational as well as professional development and growth in the present context. Learning is essential to keep in tune with trends and developments in our field.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is essentially important to make learning a habit as most employees do not focus a great deal on reading and learning. Employees must have a self realization that enhancing their capacity helps upgrading their own knowledge. They must also have the habit of aligning themselves with others to find out their weaknesses. Some organizations have the practice of skill assessment which motivates the employees to learn new things and upgrade their skills.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is crucial to develop learning culture so that learning becomes a trend in organizations for everybody to follow. It is not advisable to push people to learn; employers must provide learning environment and freedom to create culture. Employees must have the feeling that those who are always ready to learn are more successful in their careers. They are more productive and attentive towards quality than the employees who are not eager to learn. Learning habits come naturally for some. However, some others do not wish to learn until their bosses ask them to. People are bound to follow once a system of learning is initiated. This ultimately yields a positive outcome. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Learning is not a habit at the root level and that is where the problem lies. Organizations need to focus on having a library, learning zone and providing different trainings to create learning habit among their employees. The employees must also develop a tendency to learn from their subordinates. If a person is really interested in learning, s/he should shun superiority complex and be prepared to learn from juniors. However, this is a vital aspect of learning which we do not see in practice.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It helps the employer to create an atmosphere of learning within the organization if a person’s willingness to learn can be identified during the selection process itself. We can learn from any part of the world through e-learning and virtual learning as technology has made learning easier nowadays. Many INGOs have a rule for employees to do a course through e-learning which forces them to learn. They should share their learning and achievement with their co workers after taking certain trainings or completing a course.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">An individual should understand the importance of learning and realize that it is for their own growth in terms of enhancing knowledge, skills and abilities. Learning habit should come from their heart and mind because it cannot be injected in an individual. Learning culture can be inculcated only if an individual is interested in it. Developing a learning culture ultimately helps employee retention and contributes towards employer branding overall.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="text-align: justify;"> <i><span style="font-size: 9.5pt; line-height: 115%;">(The write-up is based on an ‘HR Kurakani’ discussion on “Essentials of Employees’ Learning Habit†on 25 May 2011 conducted by Real solution Pvt Ltd. The participants at the discussion included representatives from commercial banks, INGOs, IT companies, industries, private organizations and freelancers. Shailendra Raj Giri, MD of Real Solutions acted as the moderator of the discussion while Nibha Shakya, HR Executive of the company was the coordinator of the event.)</span></i></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Learning is a prerequisite to growth. Both employers and employees need to enhance their knowledge, skill and ability for continuous organizational as well as professional..........', 'sortorder' => '307', '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' => '390', 'article_category_id' => '38', 'title' => 'OHS & People Engagement (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <i><span style="font-size: 8pt; line-height: 120%;">By Dr Rabindra Karna</span></i></div> <div style="text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 11.5pt; letter-spacing: -0.1pt;">E</span><span style="letter-spacing: -0.1pt;">mployee engagement in OHS (Occupational Health & Safety) is not only critical to its effective management but also an integral part of productivity and quality management at the work place. Achieving this necessitates commitment of all parties concerned – the management, employees and the Union – to meet the objectives and long term approach of an organisation. The existence of issues related to health and safety at a work place has a huge impact over business performances. It adversely affects employees’ performances and encourages absenteeism due to illnesses, injuries etc. Health & Safety, an important element in our daily life, affects everyone including employees, managers, owners, family, society, contractors and visitors. Effective OHS management helps improve the well-being of employees, workplace environment and business operation. All these factors together ensure overall business. The employees’ engagement towards OHS seeks to change workplace culture and beliefs for improved and safe work practices through positive engagement of people, communication and training. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Effective communication is vital for business management wherein periodical group discussions cultivate consultation among the workforce. Health, safety and environmental issues are discussed in these forums in addition to measures for current business improvement and the way forward. These consultations intend to instill the entire organization’s trust and direct everyone to follow the targeted business destination. The employees are encouraged to participate in various decision making practices such as process enhancement, management plans, skills development and risk analysis. This actively encourages open communication amongst the workforce resulting in operation and work culture improvement.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">While trust plays a vital role in achieving desired level of people engagement, it is one of the most difficult tasks for business leaders. Business leadership requires demonstrating consistency in words and action by resorting to fair communication. It supports creation of a culture securing complete engagement of human resources and driving business results. At present, businesses are recognizing safety, health and environmental responsibilities as integral parts of daily routine. They are focused towards preventing occupational injury and illness as well as minimizing adverse impact on the environment. Business operations are extensively engaging in identifying priorities to ensure that these initiatives match people resources and community expectations. They are also working on an awareness drive to see regular communication and basic as well as specialized training on OHS. Employers have the responsibility of providing a safe place and work system. At the same time, employees are responsible for strictly adhering directions floated for safe work practices. Effective safety management requires compulsory integration of health and safety into planning, purchasing, production, distribution, sales and financial aspects of a business. There must be moves with clear understanding and considerations giving equal importance to productivity & quality management. It is because business improvements, risk reduction and efficient cost economy flow from a successful implementation of OHS management system.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Further, industrial relations and OHS are interlinked and these must be recognized throughout management efforts in building productive and safe work environment. The most essential requirement is to train and provide logistical support to the health and safety committee inviting its engagement for generating awareness and workforce’s interest in OHS. It is also inevitable to recognize that the Union plays a vital role in facilitating effective people engagement for participatory mechanism afforded by them keeping industrial relations in mind. This makes the employees, the Union and HR associates key stakeholders leading to dedicated participation towards the OHS program. The Unions and HR practitioners’/associates’ involvement facilitates effective dissemination of OHS process. It also encourages a better understanding of risk exposures and need for the mandatory usage of protective devices, workplace equipment, changed work practices etc on the employees’ part.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">The frequency and severity rate is the traditional form of statistical measurement of incident, accident, injury and illness. These measurements are indicators for cost efficiency, associated cost on workplace safety, loss of working hours etc. More than anything else, people resources utilization largely depends on effective improvement of working conditions to the extent of changing circumstances in the workplace. Constant and regular surveys are popular initiatives aimed at improving public commitment towards health and safety. Top management leadership in association with HR associates is critical in terms of integrating OHS management system into core business and its philosophy. The leadership displays genuine concern for employees’ welfare, provides greater opportunity to succeed and achieve OHS performance at the desired level. This also results in capturing an organization’s greater commitment towards health and safety policies thereby cultivating high degree of awareness and reducing accident and injury risks. At present, the business teams are highly energetic and equipped well with strong communication skills. Most essential and desired expectations can only be achieved with proactive approach, effective engagement and structured coaching. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">One of the key elements of the OHS drive is standard policy and implementation strategy. OHS policy cannot have productive implementation unless it overcomes traditional approaches which deal with troubles as and when they occur. On the other hand, proactive approach is the current practice and need which is based on elimination of causes rather than dealing with effects. Documented OHS system, process and policy demonstrate and quantify the need as well as explain the necessity while obtaining commitment from all parties in writing. An OHS system enables coordinated approach to health and safety instead of dealing with conflicting information leading to confusion. Any uncertainty pertaining to work practices amongst people resources exposes organizations to unacceptable risks. Though many organizations perceive health & safety management implementation as too difficult, there are key advantages of systematic implementation and health & Safety management. Investment towards OHS management system minimizes workplace illness and injury and contributes towards reducing direct and indirect cost to the company. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Above all, the feedback from the workforce is important evidence to measure OHS effectiveness and employee engagement. It plays a vital role in improvising OHS strategies and works as an eye-opener towards improvement needs in the current system. It quantifies actual measures of OHS performance which is open for manipulation through leave arrangements, changing shift of the affected employee etc. Both formal and informal feedback must be applied for qualitative checks on OHS program practices within the work schedule. While OHS encourages people’s contribution towards internal processes and learning, workers and the Unions are more likely to commit themselves and participate in best practices. As a matter of fact, this is essential for employee engagement in dealing with OHS in the form of a joint OHS committee and other participatory mechanisms such as labor relation committee.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">It is also advisable to involve people through workplace inspection, periodical interaction with operational team and work groups and measurement and evaluation exercises. This is where an organization instills the opportunity to drive the changing process of OHS management system. It ensures prevention from future injuries, accidents and illnesses. This can be taken as the best opportunity in view of the well known and accepted fact ‘Prevention is always better than cure’. </span></div> <div style="text-align: justify;"> <i><span style="letter-spacing: -0.1pt;"> (Dr Karna is the Executive Chairman of MARK Business Solutions Pvt Ltd and Ad Abhyas Marketing & Communications Pvt Ltd. The article is based on various research reports and his practical experiences as management practitioner.)</span></i></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Employee engagement in OHS (Occupational Health & Safety) is not only critical to its effective management but also an integral part of productivity and quality management at the......', 'sortorder' => '306', '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' => '389', 'article_category_id' => '38', 'title' => 'Deep Leadership(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <i><span style="font-size: 8pt; line-height: 120%;">By Sujit Mundul</span></i></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 12.5pt;">W</span><span style="font-size: 9.5pt;">hen considering management in the decade of 1990s, three important observations could be made: The massive efforts made to change the way organizations operate, the astonishing degree of failure that accompanies all but a handful of such attempts, and the radical aversion to risk-taking. One might think that the high degree of failure has provided us with a mountain of data to understand the causes. This is a correct assumption. In the same breath, one might also contemplate that the data load enables us to predict a successful route to change; but this is probably wrong. We know why change goes wrong, but we find it enormously difficult to make changes work.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The problem of change is especially significant now. Because as we see management and organizations in the western world appear to be in a state of constant turmoil as change follows change in an ever more frantic attempt to reverse what it took two centuries to construct. The traditional methods of organizing business including public services, no longer seem viable.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is possible that organizations are really autistic; in other words, organizations rather than their leaders are unable or unwilling to listen to what others are saying to them. Perhaps, their strategic intentions are rolled out irrespective of the advice that is being offered to them. In this context, one could possibly agree that IBM went through a phase of being an autistic organization, as its market share crumbed and its leadership continued to exercise the less than successful strategy despite internal and external criticism and advice that the company was going wrong.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Keith Grant in his famous article “Managing Change through Commitment†mentioned:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">“Now that we have uncovered some possible benefits and disadvantages with commitment as a panacea for change … I want to consider the extent to which leadership can displace the problematic fuzziness of subordinates with a transparent way forwardâ€. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Let us now focus on the significance of leadership rather than change. These two very often appear to be linked: leadership in itself implies change. So, let us look at the significance that different contemporary theories attribute to leadership. In traditional models, leaders are the critical sine qua non, but some current approaches attribute very little to leadership, or reconstruct the meaning of the term to change the entire debate. Leadership is amongst the most perspective areas of management knowledge.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Despite an enormous outpouring of material during the second half of the twentieth century, we appear to be little closer to understanding leadership than either Plato or Sun Tzu, who began the written debate several thousand years ago. Since post-war period it appears that we have gone full circle: From assurances that personality traits were the key, though equally valid counter argument that the situation was critical, to a controversy over whether the leader was person or task-oriented, and back to finding out the charismatics whose visions and transformational style would explain all (Bryman 1992). During this latter period there has been a prescriptive urge to push leadership in an empowering direction so that Super Leadership (Manz and Sims, 1991) can ensure that Leaders work to free up the skills and potentials of their subordinate rather than throttle initiative in bureaucratic and functional hierarchies. Now, let us touch upon a different aspect of leadership: Personality. More importantly, stable personality. When we see the boss sacking an employee for some minor mistake we know just how hard–hearted she is; when she brings her baby to work she seems quite different, almost pleasant. Keith Grant has cited another example when someone reveals her school report it is quite difficult to imagine the “shrinking violet of 2b†against the assertive CEO now standing before us. Yet, according to another colleague, she isn’t assertive at all, but downright aggressive. Could she be all these things to different people? Could it be that there is no solid centre here, no core characteristics that remain unchanged across time and space? Or perhaps, it is the people who interact with her, who construct the character? If this is so, is there no essential “essence†to people, but merely a character that is constructed through various relationships? Which characterization prevails over time tends to depend upon who has the power to reproduce it; thus accounts of popular figures may change with each biography! Indeed, a difficult proposition. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The concept of Deep Leadership suggests that leadership processes and practices, not roles are critical; that leadership is deeply and systematically present throughout all levels of the organization and not just at the formal top of the hierarchy; and that the fixation with formal leaders or Shallow Leadership and not informal or Deep Leadership is also rooted in an epistemological approach that perceives leadership to be only the effect of leaders and never the consequence of followers. It may be that leadership is an ineffective phenomenon in terms of the survival of organizations as population ecology models suggest or that leadership is merely the requirement of normative pressures as institutional theory suggests or that it is merely a myth whose purpose is to ensure the survival of the leaders themselves (Gemmill and Oakly, 1992).</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The approach towards Deep Leadership also seeks to examine the extent to which individuals who are regarded as being leader whether formal or informal are able to affect and effect their own version of events. It might be, for instance, that the crucial difference between leadership and non-leadership does not lie in the particular act or process, but in the ability of some individual to prevail over others. Another question comes up: Is leadership rather like history just the acts of victors? It may even be that acts of Deep Leadership are indeed identical at all levels but only formally recognized where they oincide with formal authority. Or alternatively, it may be that leadership styles and processes do differ between the levels of hierarchy so that there are qualitative differences between the leadership in the shop-floor and the leadership in the boardroom. </span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;"> <i>(Mundul is a Director with Standard Chartered Bank Nepal Ltd)</i></span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'When considering management in the decade of 1990s, three important observations could be made: The massive efforts made to change the way organizations operate, the astonishing......', 'sortorder' => '305', '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' => '404', 'article_category_id' => '31', 'title' => ''Nepal Is Mature Market For Notebooks' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> Albert Tung is the Regional Director for India and SAARC Region of Asus, a Taiwan-based computer manufacturing company. He was in Nepal recently to attend a dealers’ meet of his company. Asus is gaining momentum in computer products and IT sector worldwide and is claimed to be number three for notebooks in consumer segment and number one in motherboards, worldwide. In an interview with New Business Age, Tung talked about the company’s strengths and strategies for Nepal. Excerpts:</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>What was the purpose of this dealers’ meet in Kathmandu?</strong></div> <div style="text-indent: 0in; text-align: justify;"> We have come from Taiwan for the Asus dealers’ meet in Kathmandu which has participation from all our major dealers here as well as some from Bangladesh. Through this event, we wanted to appreciate our dealers for their efforts. During the meet, we updated dealers with product knowledge and apprised them of our products’ performance worldwide. With the conclusion of this meet, we are encouraged to work harder in this market.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <b>What are the potentials of Asus products for the Nepali market?</b></div> <div style="text-indent: 0in; text-align: justify;"> We see good potential for our growth in the Nepali market. We need to work with our partners more closely to have better business. Asus has always emphasised on superior product and quality design. Though we are fairly new in Nepal, we are working hard to introduce our products among the targeted consumers here. The competition is tough as established rivals like Apple are already ruling the market. I have learnt that it’s a mature market for notebooks. So, even though we are primarily known for motherboards, the challenge is to introduce our notebooks to the end users.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>What distinguishes Asus from its competitors?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Asus is basically a motherboard manufacturing company. All computers require CPU and motherboard and worldwide, Asus is number one in motherboard technology. This is where our core competence lies. For example, while purchasing a good notebook, you should not only consider the brand but the technology inside as well which is vital.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How strong is Asus’ international market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Asus leads the market worldwide when it comes to motherboard which is a very important component inside a PC. Encouraged by our top position with motherboard technology, we have also achieved number three position in consumer segment for notebooks worldwide. We want to continue the good work and lead the market for as long as possible.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Do you have any specific strategies in mind to penetrate the Nepali market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">We have been in this industry for 10 years in notebook and 20 years in motherboard technology. For the Nepali market, our strategy is to cooperate with the local partners here and tell them about our superior product quality, service and technology. Besides commercial advertising and branding, we are focused on taking care of our product quality once the consumer starts using it. Our simple strategy is to penetrate the market with honesty. We want the market to know that they should select an Asus product for its quality technology.</span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Computer technology is changing rapidly. How challenging is it to maintain a competitive edge in the market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Computer technology is changing with new technologies related to CPU, memory and other specifications coming up quite frequently. At Asus, we have the confidence because of our technology and the expertise in designing a motherboard. We know we have an edge in the market because of the support from our proven motherboard technology.</div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Albert Tung is the Regional Director for India and SAARC Region of Asus, a Taiwan-based computer manufacturing company. He was in Nepal recently to attend a dealers’ meet of his company. Asus is......', 'sortorder' => '319', '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' => '403', 'article_category_id' => '31', 'title' => ''We Want To Be Ready When The Economy Takes Off' (2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> Ali Jaleel is Dell’s General Manager for South Asia Developing Markets Group. He heads the Growing Economies business and looks after the markets in 20 countries including Pakistan, Bangladesh, Sri Lanka, Brunei, Nepal and Mongolia. He was in Nepal recently to launch Dell Inspiron R series laptops. In an interview with New Business Age, Jaleel shared his views on Dell’s position and prospects in the Nepali market. Excerpts:</div> <div style="text-align: justify;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">You have just launched your new Inspiron R series laptops in Nepal. How will this launch boost your outreach plan to penetrate Nepal’s consumer computer market?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are very excited to launch this particular product which we also call the queen series. It is unique because you can actually change the lids and use various designs as per your liking. We are hoping that we will see very positive response for this product. The infrastructure is also quite developed with Gen Next (Generation Next Communications) as our partner and reseller here in Nepal. We now have outlets at locations that were not there before.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">What made the Gen Next, your partner here, win the award of Dell’s most valuable partner for Nepal?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">They have been very impressive and done all the right things. They focused not just on sales but also on after sales, on above the line (ATL) activities, growing the market outside Kathmandu etc. Therefore, we feel they have the right ingredients. Along the way, we are going to learn new things from them and I am sure they too are going to learn from Dell. We both feel that it is going to be a long-term relationship. Nepal is a strategic market for us and we want to be ready when the economy takes off.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">As for the awards, our partners from South Asia and Korea join us in various locations once a year. It is usually in Malaysia or Singapore because our regional headquarter is in Singapore and factories are in Malaysia. We have started a tradition of selecting partners on the basis of extraordinary performances. This is where Gen Next was selected for their stand out performance and awarded with Dell’s most valuable partner for Nepal.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">How is your experience in the Nepali market so far?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We have been here for many years actually but mostly in an enterprise-way and not in a direct one. We have started making investments here only about six months ago. Gen Next is relatively new for us here but our business has really taken off in the last year or so. Nepal is a good market for us where our business has been growing steadily. There are a couple of very positive signals – one is that the economy is very resilient and the other is, when exponential growth happens, it is good news for all organisations that have invested.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">Who are your major competitors in the local market and where do you stand vis-a-vis the competition?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We would consider HP to be our closest competitor. We are competing with Acer and Lenovo in consumer base and IBM in the enterprise base. It is actually good to have competition because it keeps everyone on their toes and focuses on consumers’ interests first.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">What gives you the confidence that the New Inspiron R Series will hold its own in the market that’s already flooded with similar products? How do you plan to position yourself in the market for this particular product and establish brand identity?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are very confident about the product and the quality. The innovation we have put in is something very unique. We are quite confident that it will find its own niche, build a loyal customer base and do us good. When you talk about a product, it is important to have different ranges because people have different requirements. Some may like a 12-inch screen while some other prefer a 15-inch screen. Therefore, we have positioned this particular product by giving options of varied screen sizes. They also have the option of making their notebook look different according to their mood. The reception has been very positive during its launch in some other countries a few weeks prior to that of Nepal. It is now available in Pakistan, Bangladesh, Malaysia, India and China besides Nepal.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are already showing our intent to grow here and you must have started seeing it already. This is just the beginning for this particular product. Technology moves very fast so we have to keep focusing on the Dell brand. And under Dell, we have to keep focusing on Inspiron as well as other products. We will continue to appear above the line to establish brand identity.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">How do you assess the Nepali market overall? What are your expectations from the market in the foreseeable future?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">Overall, I was very impressed with the sophistication of some people I spoke to. They are very well informed. In enterprise base, customers from various industries know exactly where they want to be and the technologies they want to embrace. This is very good because it means half the work is done since we don’t have to educate the customers who are already very informed. Similarly, people seem to be quite well informed about technology in consumer base as well. The young generation here is very internet savvy and has all the information. As a matter of fact, they ask questions about technologies which are not yet available in Asia which is really interesting. These technologies are either introduced or are being planned to introduce in countries like the US. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="text-align: justify;"> <span style="font-size: 8.5pt; line-height: 115%;">We do feel that we will continue to have organic growth which is fine with us because we are making the investments now. We are hoping that once the elections happen and a new government comes in, there will be more projects. A good number of projects especially on the government side are something we are eager about. That will definitely help us grow exponentially because right now, our growth is pretty organic.</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Ali Jaleel is Dell’s General Manager for South Asia Developing Markets Group. He heads the Growing Economies business and looks after the markets in 20 countries including Pakistan, Bangladesh, Sri Lanka........', 'sortorder' => '318', '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' => '402', 'article_category_id' => '31', 'title' => ''We Must Use Land In A Very Discretionary Manner' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 11pt;">World-renowned architect Hafeez Contractor was in the city to launch his first project in Nepal called Westar Skyliving -- a twin-tower apartment block close to Hotel Soaltee Crowne Plaza in the heart of the city. Targetted at the high-end clientele, this 14-storey luxury high-rise apartment project on 7.10 ropanis will have 77 percent of the project area reserved for open space and water bodies. Contractor is a member of Bombay Heritage Committee and New Delhi Lutyens Bungalow Zone Review Committee. After completing his graduate diploma in architecture from Academy of Architecture in Mumbai, he finished his graduation and MS in Architecture from Columbia University, New York. Among other projects, Contractor has also designed The Imperial I and II, the tallest buildings in India. His projects are spread across India, South Africa, UAE and the US among other countries. In an interview with Pinaki Roy of <i>New Business Age</i>, Contractor talked about Nepal’s transforming skyline and the housing industry. Excerpts:</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">What is your assessment of the housing industry in Nepal?</span></strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">We are facing shortage of houses in Nepal and India. Not only that, housing shortage will be greater in the days to come with rising population and more people moving into the cities. Therefore, we have to find a way out to deal with the problem of housing shortage. We should discourage the individual housing system in every South Asian country including Nepal. The land is ever decreasing with construction of stand-alone houses and the truth is that we can’t produce additional land.</span> There is an immediate need to redevelop old buildings here. By doing so, taxation levels can be increased and the cities can get rich. The cities can then plough money into infrastructure which is most important.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: 0pt;">Tell us in brief about your association with Westar Skyliving. </span>I am interested in Nepal because apartment culture has been developing here of late. The people buying these apartments should be offered hassle-free living conditions and I hope my expertise of over 30 years will help fulfil this objective. This particular project ‘Westar Skyliving’ was proposed to me by its promoter Golyan Group and it interested me due to its international standards. With my involvement in this project, I want to demonstrate innovative ways of designing and executing an apartment project.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">Given the fact that Nepal falls in the Seismic Zone 5, how do you view the increasing construction of high-rises here?</span></strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">The fact remains that high-rises are a very important today because we have a restricted amount of land. And, we have to make use of the land in a very discretionary manner. Up till now, we have been wasting land by keeping open spaces where we can do nothing. We need proper, large green spaces and we have to think about our subsoil water which is going down because of the indiscriminate growth of our cities. The water gets washed off and does not percolate down. High-rises are very important indeed and it is equally important for the people involved to build high-rises in the right manner. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> Earthquakes are going to come some day or the other so we should be better prepared for that. Design and construction of skyscrapers should be as per the code otherwise we are in big trouble. I feel the government should take a very firm stand against people who are not adhering to this. In the event of an earthquake, buildings may collapse because the builders may not have designed the buildings as per earthquake loads. Suddenly, the media and everyone else will start saying that high-rises are bad.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">Will you be involved in more Nepali projects in the foreseeable future such as public structures and slum redevelopment?</span></strong></div> <p style="text-align: justify;"> Yes, definitely. Besides working with the private sector, I will be looking for opportunities to work with the government as well. The government must look at providing sustainable housing options to the citizens of this country. It’s sad but true that despite having tremendous potential, the apartment business has not registered the desired growth in Nepal. We must look to introduce easy apartment systems that will accommodate large number of people under single roof. I will be working in this direction in Nepal.</p> <p style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">What’s your recommendation for the Nepali architects? </span></strong></p> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">I have come to Kathmandu after 2-3 years and I saw a lot of glass buildings. I would be very happy if a touch of local architecture and materials are given to the buildings being constructed. It happens that while living in one region, we like what is there in the other region. This phase will go away with time and you should let it happen. You should maintain old buildings because heritage is extremely important.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'World-renowned architect Hafeez Contractor was in the city to launch his first project in Nepal called Westar Skyliving -- a twin-tower apartment block close to Hotel Soaltee Crowne Plaza in the heart..........', 'sortorder' => '317', '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' => '401', 'article_category_id' => '31', 'title' => ''Nano Will Make Motoring Affordable In Nepal' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt;"><strong>Johnny Oommen</strong> is the Head of International Business, Passenger Car Unit for Tata Motors Limited. Oommen has a proven track record in bottom-line results, strategic marketing, problem solving and people management. He has also worked for top brands like BMW, MINI, Rolls-Royce, General Motors India and even Sony Entertainment Television. Oommen was in Kathmandu last month to launch the much-awaited Nano car in Nepal. In an interview with <i>New Business Age, </i>he shared his views on Nano’s market prospects and its suitability for the Nepali roads. Excerpts:</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Nano is now in Nepal. How do you feel about it?</strong></div> <div style="text-indent: 0in; text-align: justify;"> It is a momentous occasion for us. When we launched the Nano in India nearly two years ago, we were clear that a product like Nano will find its way to markets that are closer to India. Nepal, as you can see, today is one of the earliest markets outside India that we have decided to hit with Nano. We are very optimistic and confident that Nano will find acceptance across Nepal.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How is the car doing in India?</strong></div> <div style="text-indent: 0in; text-align: justify;"> We have principally launched in India and Nepal is one of the earliest markets outside India. In India, the car has stabilised and is doing quite well. We initially had supply problem then we went into producing as much as the pipeline demand we had. Today, we have really expanded production and distribution capacity and we have 617 dealerships and sales point in India. We are going to introduce 300 exclusive Nano outlets in the coming month. So, the Nano is definitely looking good in terms of results in India.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>In Nepal, Nano is going to cost much higher than in India because of high tax rates. How do you see that?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Well, even in India, the pricing has moved up because of increase in import cost, material cost and distribution cost. So, today Nano is more expensive than it was two years ago. In Nepal, the duty and tax structure is such that there is 240 per cent increase over the price that we have in India. Despite that we are able to bring the Nano into Nepal in extremely attractive price. We believe that despite all that multiplier, we are offering a product that will make motoring affordable to a lot of Nepali population. Just to give you an example, starting price of the Nano Standard is Rs 798,000. Thanks to the tie-ups, we have got into with as many as 10 banks, we will be able to, for instance on the Standard, take a down payment of Rs 10,000 and work out a monthly instalment of Rs 11,111. So, that is a very attractive proposition. I think we are only adding to the expectation around Nano being a very affordable, acceptable motor.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Do you have any volume-wise target sales for Nepal?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Sky is the limit. We are looking at various segments. We believe as a car, it has potential for people who are currently without a car. Let’s say they are using two-wheelers. We are looking at the people who have just started working, first-time job holders, young couples, small families, and of course people who already have one or two cars and are looking at additional small vehicle in the family. We believe, if we look at each of these segments, there is a lot of potential and we have increased production capacity in India so we are in a position to fulfil the demand in the Nepali market.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How do you see the Nepali market demand for cars, especially for Nano?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Even though the industry for a couple of years may not have grown as per the expectations of most of the automobile manufacturers and even the Nepali economy, we believe that the Nano is a product so attractive, packed with features like space, compactness, safety, manoeuvrability and fuel efficiency, all these are extremely attractive points. We believe with all these, it should be able to attract far more people in Nepal. We believe in creating a new segment. While people may be considering other cars, it will draw new people into the world of motoring. In that sense, it is really a limitless kind of thing. It is difficult to predict but our expectations are high.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How did you find the reaction of people here after the soft launching and beginning of Nano Yatra?</strong></div> <div style="text-indent: 0in; text-align: justify;"> So far, it has been overwhelming. We have received more than 5,000 enquiries, which is not a small number. It is very encouraging. We are only looking forward to actually start delivery. We will be announcing booking today and hopefully within a month’s time we should be able to start delivering.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Nano is the cheapest car in the world. How was it possible to make a beautiful car in such low price?</strong></div> <div style="text-indent: 0in; text-align: justify;"> The perception of cheapest car might have a lot of people believing that we must have cut corners or compromised. The truth is that Nano is the result of intelligent innovation. We have designed the car in a completely new way so that we were able to rethink how to manage cost and a lot has been done without making compromises. In terms of compactness, it is eight per cent more compact than the closest competitor. In terms of space inside, it is 21 per cent more spacious than closest competitor. In terms of gradability, it is as good as any other competitor. In terms of ground clearance, it is as good as or better than cars in one or two segments above the Nano. In terms of fuel-efficiency, the Automotive Research Association of India has certified fuel-efficiency of 23.6 kilometres per litre. Even in city driving that becomes around 20 kilometres per litre. It is still by far the best among others in Nepal. So, all of this is what we call innovative. These are all important to the customers and in fact they are better than what competitors offer. We have been able to do this in lower costs and that is what we would like to gift Nepal today.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Sometime back, there were questions raised on the safety of Nano because there was abrupt fire on board. How has the company addressed the safety issue?</strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.05pt;">On the couple of incidents that happened, I must inform you that essentially they were to do with placement of some foreign object in the car. We can only certify that the Nano is an extremely safe product. It has been built with the highest standards of quality and after these couple of incidents; we actually improved whatever we needed to ensure that any such acts of unauthorised placing do not happen. It is difficult to expect any such incidents in the future. After those incidents happened, notwithstanding the fact that we knew Nano is a safe product, we submitted the car to a fresh investigation of design and everything in entirety. That investigation team included experts from outside Tata Motors so that it is a completely new investigation. You can often be blind to certain things because you believed the product for six to seven years is absolutely a safe product with the robust design and state of the art innovation. Despite our researches and belief, later we decided to make the robust car even more robust. We made enhancements to make it even more robust.</span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> As a testimony of our confidence in the product, we are offering for the first time in the Nepali market, a four-year or 90 thousand kilometre warranty. Nobody else does that. We are extremely confident about the product and I think this warranty provision itself certifies the fact that we believe in safe, sturdy and robust car.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Given the hilly terrain and not so perfect roads even in cities, is Nano the right car for Nepal?</strong></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Nano Yatra has been going on for a month now. It has covered around six thousand kilometres. That is not very long distance but we are glad to report you that it has performed extremely well. It is very robust and sturdy. It has gone across Nepal and we still have a lot of territory to cover. We will be doing 40 thousand kilometres. We are very confident that it will prove itself because we have extensively tested the car in India. The car has been driven on the highest motorable road in the world, Khardungla. We have gone across terrains and we are confident that the same performance that Nano has shown elsewhere will be shown in Nepal. Given the hilly terrain and narrow road, there could be nothing perfect than Nano. Its small size and its gradability makes it really perfect vehicle for Nepal.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Johnny Oommen is the Head of International Business, Passenger Car Unit for Tata Motors Limited. Oommen has a proven track record in bottom-line results, strategic marketing, problem.......', 'sortorder' => '316', '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' => '400', 'article_category_id' => '42', 'title' => 'Budget Hopes (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <i><span style="font-size: 8pt; line-height: 120%;">By Bikram Chitrakar</span></i></div> <div> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">N</span><span style="font-size: 9.5pt;">epal's stock market has started showing some hopeful signs in recent days though during the month till mid-June it was falling down a precipice. The benchmark Nepse index plummeted 43.38 points or 14.29% to settle at 303.53 on June 16. The highest points in the review period was on 18 May (346.91) and the lowest was on 15 June at 292.32, which is lower that what it was on 25 Jun, 2005 (292.47). </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Nepse plummeted after a panic spread across the banking and financial institutions due to liquidity crunch and bad governance. The governance crisis which had started from Nepal Development Bank two years ago and spread to Samjhana Finance Company gripped Gurkha Development Bank and Nepal Share Markets as well. Recently, most of the banks and finance companies are suffering liquidty crisis and they are turning to Nepal Rastra Bank (NRB) for help. NRB has opened refinancing facility to address the problem. Under this facility, there is a provision to provide refinance up to 60 percent of the core capital of the banks and financial institutions.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">During the review period, the Securities Board of Nepal (SEBON) introduced the mutual fund regulation, CDS regulation and Credit Rating Agency regulation. However, all these failed to uplift the market which fell to six years low. Therefroe, the government has urged cash rich public sector instituions namely Employees Provident Fund, Citizens Investment Trust (CIT), Rastriya Beema Sansthan and Nepal Telecom to invest in the secondary market and create demand for shares so as to boost up the market confidence.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The result has been that the market surged 60.87 points during the week 16-23 June. Also the hope that the government’s budget for the coming fiscal year that starts on mid-July will be presented to the parliament in time has helpd in the latest surge in the market. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Delay in presenting the budget for fiscal year 2010/11 is cited as the prime reason for the liquidity crunch. Due to that delay, a massive sum of Rs 30 billion in the government budget is likley to freeze as the government is not able to speed up expenditure. The delay in the current year’s budget was due to obstruction of the parliamentary proceedings by the then main opposition party UCPN-UML. But the present main opposition party Nepali Congress has indicated that it will not cause obstruction in the parliamentary proceedings related to budget approval.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="">Performance by Sector<br /> <br /> </span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">During the review period, the banking sector which holds the major share in the volume of trade in Nepal Stock Exchange plummeted 57.20 points or 23.02% to close at 248.44. Hydropower sector lost 178.81 points or 36.85% to settle at 485.3. Insurance sub-indices descended 25.25 points along with 23.96 points decline in the trading companies group. Similarly, development banks declined 20.89 points or 7.52% to 277.8. Hotel sector receded 14.70 points or 3.67% to rest at 400.35. Finance sector slumped 9.58 points to close at 295.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Sensitive index that measured the performance of 117 blue chips scrip at the secondary market lost 11.03 points or 14.75% to 74.8 while, the float index calculated on the basis of real transaction lost 4.10 points to arrive at 25.15. Total of Rs. 426328626 was realized during review period from 1987186 units of share traded via 25826 transactions.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The accompanying figure depicts the sector-wise distribution based on the total volume of trade. Commercial bank has occupied the highest share of trade - 48.90% while Development Bank group accounted for 16.52% and hydropower sector 14.97%. Similarly, finance sector’s share was 8.32% while the remaining sectors covered the rest.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Technically, Simple Moving Average (SMA) is dominating the market in the short term as well as in the long term as both 30 days SMA and 200 days SMA are performing poor. Similarly, the Nepse index is bending which will suggest further fall if it fails to stabilize near 300. But since the June 16-23 week has pulled the index up to 364.4, the market has become optimistic again.<br /> <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <i><span style="font-size: 9.5pt;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)<br /> <br /> </span></i></div> <div> <i> </i></div> <div align="center"> <span style="font-size: 10.5pt;">Movement in Indices (18 May - 16 June 2011)<br /> <br /> <br /> </span></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.45pt; border-collapse: collapse;"> <tbody> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-color: rgb(204, 123, 74) white white rgb(204, 123, 74); border-style: solid; border-width: 1pt; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="94"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Indices</span></b></span></div> </td> <td style="width: 39.35pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="52"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Open</span></b></span></div> </td> <td style="width: 38.65pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="52"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">High</span></b></span></div> </td> <td style="width: 40.1pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="53"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Low</span></b></span></div> </td> <td style="width: 38.05pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="51"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Close</span></b></span></div> </td> <td style="width: 37.75pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="50"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Change</span></b></span></div> </td> <td style="width: 47.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="63"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">% Change</span></b></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Nepse</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">346.91</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">346.91</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">292.32</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">303.53</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-43.38</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.29</span></span></div> </td> </tr> <tr style="height: 14.9pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Bank </span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">305.64</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">305.88</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">234.01</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">248.44</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-57.20</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-23.02</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Sensitive</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">85.83</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">85.98</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">71.7</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">74.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-11.03</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.75</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Development Bank</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">298.69</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">299.37</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">277.7</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">277.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-20.89</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-7.52</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Hydro</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">664.11</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">664.11</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">473</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">485.3</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-178.81</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-36.85</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Finance</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">304.58</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">304.58</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">295</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">295</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-9.58</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.25</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Insurance</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">426.05</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">426.05</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">398.1</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">400.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-25.25</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-6.30</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Hotel</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">415.05</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">415.05</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">398.66</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">400.35</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.70</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.67</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Manufacturing</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">504.17</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">504.17</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">483.25</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">501.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-2.37</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-0.47</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Tradings</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">265.96</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">265.96</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">241.97</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">242</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-23.96</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-9.90</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Others</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">477.04</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">486.44</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">430.1</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">460.6</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-16.44</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.57</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white rgb(204, 123, 74) rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Float</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">29.25</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">29.25</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">24.3</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">25.15</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-4.10</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-16.30</span></span></div> </td> </tr> </tbody> </table> <p> </p> <p> </p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-09-16', 'keywords' => '', 'description' => 'Nepal's stock market has started showing some hopeful signs in recent days though during the month till mid-June it was falling down a precipice. The benchmark Nepse.......', 'sortorder' => '315', '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' => '399', 'article_category_id' => '45', 'title' => 'Corporate Movements July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>New comers<br /> <br /> <br /> Yogesh Dhakal </strong>has joined Full Bright Consultancy Pvt Ltd, Maitidevi, as IT Manager. Earlier, he was ICT (Information and Communication Technology) Chief at Hydro Solutions P Ltd, Swayambhu.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Raju Dhoj Thapa</strong> has joined Bhancha Ghar as General Manager. Earlier, he was a Hotel and Restaurant Consultant.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Sandeep Kumar Rai </strong>has joined Casa Toscana as Sous Chef. Earlier, he was Chef De Pati at The Oberai Raj Villas, Jaipur, Rajasthan, India.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Pradeep Khanal </strong>has joined Kist Bank as Head-Risk Assessment Department. Earlier, he was Branch Manager at Everest Bank's Pulchowk Branch.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Prakash Baral </strong>has joined Kist Bank as Risk Manager Credit Risk CA Department. Earlier, he was Manager of Lending department at Nepal Bank Limited, New Road.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Madan Rauniyar </strong>has joined Emami Limited as National Sales Manager for Nepal, International Business Function. Earlier, he was Country Manager at Cavin Kare Pvt Ltd.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Manoj Bhattarai</strong> has joined DCBL Bank Ltd as General Manager. Earlier, he was CEO of Nepal Life Insurance Company.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Pradeep Kumar Shrestha</strong> has joined Tinau Development Bank, Butwal as General Manager. Earlier, he was Branch Manager at Sewa Bikas Bank Ltd, Butwal.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Yadav Bhattarai </strong>has joined Janata Bank Ltd as Branch Manager of Butwal branch. Earlier, he was Operation In-charge at Global Bank Ltd, Butwal.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Neeraj Kumar</strong> has joined Sumy Distillery as General Manager. Earlier, he was a Director with Marketing Access.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Aditi Shrestha</strong> has joined International Finance Corporation (World Bank group). Earlier, she was associated with Beed Management/ Beed Invest.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Murari Gautam</strong> has joined Marigold IT Solution Pvt Ltd as Managing Director. Earlier, he was with Nepa Hima Trade Links Pvt Ltd as Deputy Marketing Director.<br /> <br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><u><strong><i>Promotions<br /> <br /> </i></strong></u></span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Rajendra Subedi </strong>has been promoted as Acting CEO of Pashchimanchal Development Bank, Butwal. Earlier, he was the Assistant General Manager there.<br /> <br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><u><strong><i>Transfers<br /> <br /> </i></strong></u></span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>P R Mishra </strong>has taken charge as CEO of Life Insurance Corporation Nepal Ltd in place of P Muraleedharan who has been transferred to National Insurance Academy, Pune as Faculty Manager. </span></div> <div> <span style="font-size:12px;"><br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-08-31', 'keywords' => '', 'description' => 'Yogesh Dhakal has joined Full Bright Consultancy Pvt Ltd, Maitidevi, as IT Manager. Earlier, he was ICT (Information and Communication Technology) Chief at......', 'sortorder' => '314', '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' => '398', 'article_category_id' => '38', 'title' => 'Environmental Sustainability July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12.5pt;">B</span>lue Ocean Systems (BOS) is committed to generate awareness and bring about substantial changes towards environmental sustainability. In this context, BOS organized a day-long hiking trip to Shivapuri titled Team Building towards Sustainability on 15th April this year. It was a team building event with the sole purpose of cleaning up the waste in the Shivapuri Mountain.</div> <div style="text-indent: 0in; text-align: justify;"> <br /> </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.25pt;">Though the event was a fun-filled one, it was heartbreaking to see the Shivapuri's beautiful surroundings marred by waste left behind by hikers and picnickers. This careless garbage dumping has attracted many pests and contaminated the nature's reserve. There were food wrappers and plastic plates with food remnants lying around which not only disturbed the beauty of the place but also hampered the eco system of the area. </span></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.25pt;"> <br /> <br /> </span></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">BOS team successfully accomplished the Shivapuri summit clean-up plan by managing to collect the garbage in Shivapuri hill area in less than 30 minutes. At the end of the cleaning exercise, we asked ourselves, Why couldn't people clean their own waste? If every visitor to the park acknowledged their responsibility to preserve the national park by adhering to cleanliness, Shivapuri Mountain would be a magnificent place for all visitors. </span></div> <div style="text-align: justify;"> <br /> </div> <div style="text-align: justify;"> We thought of recommending the following tips to hikers for making their tour worthwhile without compromising on the fun.</div> <div style="text-align: justify;"> <br /> </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">BOS shall continue to work towards keeping the environment clean and invites people who wish to use our services to work with us. Together, we can ensure environmental sustainability alongside our various professional tasks.<br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2013-05-24', 'keywords' => '', 'description' => 'Blue Ocean Systems (BOS) is committed to generate awareness and bring about substantial changes towards environmental sustainability. In this context, BOS organized a......', 'sortorder' => '313', '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' => '397', 'article_category_id' => '38', 'title' => 'Prepare Yourself With SAP July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in;"> <i>By Aparajita Acharya</i></div> <div> <br /> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 14.5pt;">E</span><span style="font-size: 9.5pt;">fficiency has become a key factor in today's fast paced business scenario. The trend projection suggests that businesses shall get even more competitive in the days to come. And obviously, as businesses get bigger, they will require more professional systems to stay together and prosper. This is where SAP business solutions come in. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">The demand for SAP trained individuals is increasingly on the rise with SAP becoming one of the most sought-after ERP business solutions today. As every individual appraises his/her own credentials and adaptability in today's cut-throat global competition, companies hire and fire largely mindful of the flexibility, competence and productivity of their staff. Therefore, the question is that of acquiring competence which helps understand businesses in their essence. You must find ways to assure that you never become outdated and easily adapt to the new needs of the growing market.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">Companies try to find people who are already well trained when new recruits are needed to fit into multiple roles. So it becomes essential that you are precisely trained to be saleable in the job market. Among many ERP business trainings on offer, SAP training makes you fit to carry out a multitude of roles and helps you become proactive in understanding business processes and flexible to market requirements. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">Armed with a SAP training, you will be already qualified to kick start your career at a higher level in established companies despite entering the market at a young age. SAP training has assured various locally trained consultants with excellent placements in successful organizations as an increasing number of companies in Nepal advance towards ensuring economical output of a required quality. However, this is definitely not the end of it all.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">A peek at the global job market illustrates an increasing appeal for SAP trained professionals. The US, Australia and Germany are among countries that consistently seem to have high number of positions available for SAP trained individuals. Other countries such as the UK and The Netherlands which look for comparatively less number of SAP trained employees offer equally lucrative salaries to these sought-after consultants, architects and experts.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">You can either undertake a complete course for SAP or choose to learn only the modules that support your job needs. Among the different SAP modules, those trained in FI, CO, CRM and BI (Business Intelligence) currently seem to be in great demand in the global market. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> </div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">If you wish to go about chiseling your expertise to match market requirements, a SAP training ensures that knowledge in any business area you wish to participate in, is as good as hands on experience. It helps you carve a niche for yourself in the midst of aggressive competition. Backed by SAP, you can be assured that you have exactly what everybody is looking for whether you decide to work abroad or closer home.<br /> <br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2013-05-24', 'keywords' => '', 'description' => 'Efficiency has become a key factor in today's fast paced business scenario. The trend projection suggests that businesses shall get even more competitive in the days to come. And.........', 'sortorder' => '312', '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' => '395', 'article_category_id' => '39', 'title' => 'Etihad Airways: Fly With The Best - July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">E</span><span style="font-size: 9.5pt;">tihad Airways is the National Airline of the United Arab Emirates (UAE). It has established itself as the world's leading airline in less than eight years. The airline was set up by a Royal (Amiri) Decree in July 2003 with UAE's capital Abu Dhabi as its hub. It commenced commercial operations in November 2003 and has gone on to become the fastest growing airline in the history of commercial aviation. The airline's near-term focus is on breaking-even in 2011 and moving into sustainable profitability in the following year. Etihad began daily flights to Kathmandu, Nepal on 28 October 2007 and maintains its corporate office at Yak & Yeti Office Complex in Durbarmarg. We are happy with our success here in a short span of time and hope to increase our flight frequency sometime later this year, says John Rees Evans, Etihad's Country Manager for Nepal. He adds, Nepal is primarily a labour oriented market but there is tremendous potential in the business and leisure traveller segments as well.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It has partnered with Gokarna Forest Resort (golf) and Dwarika's Hotel (ancient cultural heritage) locally to entice travellers from the Middle East to spend quality time in Nepal. Etihad carries out its sales functions through affiliated travel agencies in Nepal and encourages them by acknowledging their contributions as well as providing them incentives. It also indulges in indirect marketing with popular brands such as Coca-Cola and Suzuki for brand enhancement. The popularity of Indian television channels certainly helps with its spill over advertising effect in Nepal Etihad's TV promotional has brand ambassador Katrina Kaif appearing in a dance sequence at the first class lounge. A number of airlines from the Middle East enjoy a strong presence in the Nepali market. Our competitors have been operating in the market for a longer period than us but we have our own niche market to cater to, Evans exudes confidence about holding his own with the competition.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Evans believes in treating people the way he wants to be treated himself. He has been in Nepal for nine months now and calls it a pleasant experience. The employees here in Kathmandu that works with me are surprisingly good and very enterprising people, He said. He lets people perform their best and believes in leading by example. He asserts that Etihad being a relatively new entity has its own advantages. We don't have the baggage like some other international airlines and enjoy reasonable freedom, he tells. Looking at growing the market, Evans is buoyant about the current legislation of own <span style="letter-spacing: 0.05pt;">handling at Tribhuvan International Airport (TIA). He is particularly positive about Nepal's only international airport beginning 24 hours operation anytime soon.<br /> <br /> <br /> </span></span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">Etihad Nepal is working towards implementing fast track operations through its counters at TIA. As part of its endeavour, it has already established a separate counter for business travellers while checking-in at TIA. It also boasts of a shared executive lounge for business travellers operated by Hotel Radisson. We have plans to have chefs on board flights to cater to personal taste of our travellers, Evans states. The airline also provides attractive packages for Kathmandu flights by announcing news tariffs which are aimed at improving passenger satisfaction levels and contributing towards Nepal's tourism sector.</span></div> <div style="margin-top: 0.15in; text-align: justify;"> Etihad Airways-Nepal factsheet</div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Flight Details: Kathmandu (KTM) Abu Dhabi (AUH)</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> 7 days a week</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> Mon, Wed, Sat 5:30 pm and </span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> Sun, Tue, Thu, Fri 9:15 pm</span></div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Aircraft Model: Airbus A330-200 / A320 </span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> (as per availability)</span></div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Employees: 11 employees at the Corporate Office</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> 12 Ground Staff at TIA</span></div> <div style="text-align: justify;"> <br /> </div> <div style="margin: 0in 0in 0.0001pt 11pt; text-indent: -11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Motivated employees </span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Strong product and service</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Can Do approach</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Good connectivity through the busy Abu Dhabi hub</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Comparatively a new entrant</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Building density into the network</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Optimising the fleet and its utilisation</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Reaching profitability</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Planning for growth</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Continuing to innovate</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Frequent strikes</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%; color: black;"> Security issues<br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-10-04', 'keywords' => '', 'description' => 'Etihad Airways is the National Airline of the United Arab Emirates (UAE). It has established itself as the world's leading airline in less than eight years. The airline was set up by a Royal.....', 'sortorder' => '311', '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' => '394', 'article_category_id' => '39', 'title' => 'Etihad Airways-International(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt; letter-spacing: 0.1pt;">E</span><span style="letter-spacing: 0.1pt;">tihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st century global airline challenging and changing the established conventions of airline hospitality. Apart from providing a relaxing experience, it strives to make travel safe and environment-friendly by practicing the highest global standards in both these areas. The airline is constantly innovating, taking the smallest detail into account in its pursuit of excellence and perfection. The overall ambition of Etihad Airways is to be the best airline in the world. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Etihad is governed by a Board of Directors under the chairmanship of HH Sheikh Hamed bin Zayed Al Nahyan while the airline’s management team is led by James Hogan who was appointed as Chief Executive Officer in October 2006 to lead the airline’s continued successful growth and development. The ongoing redevelopment work at Abu Dhabi International Airport has significantly enhanced the experience for guests. The second runway, officially opened in October 2008, is part of a large scale UAE Dirham (AED) 25 billion redevelopment programme and expansion project at the airport. Terminal 3 at Abu Dhabi Airport, an exclusive facility for Etihad, was opened in February 2009 increasing the airport’s passenger handling capacity from five to 12 million passengers a year. The first phase of a Midfield Terminal Complex is due for completion in the next few years and will take the airport’s handling capacity to 20 million passengers. The airport will be capable of handling 40 million passengers by 2030 when the project is completed.<br />  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Fleet and network</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad’s fleet, among the youngest in the world, has 57 aircraft operating 1,032 flights per week serving an international network of 68 destinations in 45 countries in the Middle East, North America (New York, Chicago and Toronto), Africa, Europe, Australia and Asia (including Kathmandu in Nepal). In addition, Etihad has 30 code-share agreements in place, building the airline’s international network. As part of its long term vision, Etihad plans to operate in up to 100 major business and leisure destinations around the world by 2020. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">The airline announced the largest aircraft order in commercial aviation history at Farnborough International Air show in 2008, for up to 205 aircraft – 100 firm orders, 55 options (guaranteeing the price of the aircraft and the delivery date) and 50 purchase rights (guaranteeing the price of the aircraft but not the delivery date).<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">People and Company Growth </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Currently, close to 8,000 people work at Etihad Airways with the majority based in Abu Dhabi and the UAE. In order to meet Etihad’s predicted fleet, passenger and destination growth by 2020 – which plans for more than 25 million passengers to fly to more than 100 destinations aboard a fleet of 150 planes – the airline will need a workforce of approximately 27,000 people. In 2010, Etihad saw passenger numbers top 7 million (7.1 million passengers carried) for the first time and revenue passenger kilometres (RPKs) rise 20.1 per cent. Etihad’s revenue exceeded US $2.9 billion in 2010. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">On the ground, Etihad has introduced a range of services designed to make the travel experience as comfortable, smooth and fast as possible. It offers a range of convenient ground services, including Etihad Chauffeur, its premium limousine service available at 27 destinations globally, and premium lounges (370,000 lounge guests hosted) in Abu Dhabi, London, Frankfurt, Dublin and Manchester.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Etihad Guest</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.35pt;">Etihad Guest is an award-winning loyalty programme boasting over one million members to date. Launched in August 2006, the programme offers its members opportunities to accumulate Etihad Guest Miles which can be redeemed against a wide selection of over 1,800 flight and non-flight rewards from over 200 partners. Non-flight rewards cover a wide variety of categories from computer and electronic equipment to jewellery and lifestyle products. Each year, over 40 promotions are organised by the CRM and Loyalty department and communicated to all Etihad Guest members.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Sponsorships</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad supports a range of sporting and cultural events in the UAE and the world over. These sponsorships are consistent with Etihad’s values of hospitality and team spirit and helps bring Abu Dhabi to the world and vice-versa. Its major sponsorships include Etihad Stadium, Ferrari Formula 1 (F1) Team, Sport Australia Hall of Fame, GAA Hurling All-Ireland Senior Championship, Harlequins Rugby Football Club, F1 Etihad Airways Abu Dhabi Grand Prix and Manchester City Football Club.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Marketing </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">The airline’s marketing department plays a major role in taking the Etihad Airways story to the world. Etihad was awarded ‘World’s Leading Airline’ at the World Travel Awards in 2010 for the second consecutive year. It set the benchmark for the airline’s brand communications enabling Etihad to inspire its audiences through a range of campaigns to ‘fly with the best’. The same year, it launched an international television advertising campaign titled ‘He Likes, She Likes’ showcasing the airline’s continued investment in products and services and commitment to offering a tailored, personal experience for every traveller.</span><span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>An Award Winning Airline</strong></div> <div style="text-align: justify;"> Etihad has received a range of awards that reflects its position as the leading premium airline brand in the world. In its first seven years of operation, its range of local and international awards includes:</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2011 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Long Haul Airline – Irish Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2010 </span></b></div> <div style="text-align: justify;"> <span style=""> Airline of the Year – Aviation Business Awards </span></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline – World Travel Awards (second consecutive year)</span></div> <div style="text-align: justify;"> <span style=""> World’s Best First Class – Skytrax (judged by over 18 million air travellers worldwide in the annual Skytrax survey)</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2009 </span></b></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline - World Travel Awards (WTA) </span></div> <div style="text-align: justify;"> <span style=""> Best Airline to the Middle East / Africa - Irish Travel Trade News awards, Dublin </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2008 </span></b></div> <div style="text-align: justify;"> <span style=""> European Sponsorship of the Year Award - European Sponsorship Association </span></div> <div style="text-align: justify;"> <span style=""> James Hogan, Aviation CEO of the year - CEO Middle East awards (ITP) </span></div> <div style="text-align: justify;"> <span style=""> Best website www.etihadairways.com - Pan Arab Web Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2007 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Economy class catering award - Skytrax </span></div> <div style="text-align: justify;"> <span style=""> The Middle East’s Leading Airline - World Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2006 </span></b></div> <div style="text-align: justify;"> <span style=""> Middle East Airline of the Year - Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2005 </span></b></div> <div style="text-align: justify;"> <span style="font-size: 5.5pt;"> </span><span style="">Outstanding Food Service by a Carrier – Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2004 </span></b></div> <div style="text-align: justify;"> <span style=""> The World’s Leading New Airline – World Travel Awards</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="font-size: 13.5pt; letter-spacing: 0.15pt;">‘Essential Abu Dhabi’</span></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Etihad Airways has designated 2011 as ‘the year of Abu Dhabi’ with the launch of its ‘Essential Abu Dhabi’ destination marketing campaign. The campaign will see Etihad unveil a number of exciting promotional activities across the globe designed to enhance Abu Dhabi’s place as a top tourist and MICE (Meetings, Incentives, Conferences and Exhibitions) destination. All the major tourism operators in the emirate of Abu Dhabi have come together under one showcase umbrella for the first time to promote the very best UAE capital has to offer. The campaign is being supported by the Abu Dhabi Tourism Authority as a major partner. The programme is also targeting millions of passengers transiting through the Abu Dhabi hub, to entice them for a stopover in the city.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Etihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st.....', 'sortorder' => '310', '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' => '393', 'article_category_id' => '39', 'title' => 'ICFC: Going Steady(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of ICFC, claimed the company maintains liquidity of 28 to 30 per cent at any given point of time. “Maintaining liquidity is our key concern at present. We think of profitability only after we have maintained enough liquidity,†he explains. The company has made a net profit of Rs 27.19 million by the end of third quarter of the current fiscal year.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">After being registered in 2003, ICFC commenced its operations from July 17, 2004. “We started with a paid-up capital of around Rs 25.5 million before going public,†Pant shared. In its seven years of operation, the company has Rs 330 million as paid-up capital out of core capital of Rs 400 million.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant asserts that success did not happen overnight. He says, “We are always focused on our future plans and tread a cautious path while lending.†He added that the finance company is headed by professionals with long exposure and experience in commercial banking. Ram Babu Pant heads the company as the CEO and has served as Deputy Governor of Nepal Rastra Bank (NRB) in the past. The board of directors too comprise of influential members under the chairmanship of Suresh Kumar Agrawal.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> “The economic sector was booming and there were a lot of business opportunities when we began our service,†says Pant. He claims ICFC’s Credit to Deposit ratio is around 70 to 75 per cent. He adds, “We never focused on investment in a single sector since the beginning.â€<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">At present, ICFC has deposits of around Rs 3 billion and loans and advances amounting to Rs 2.45 billion. Therefore, the difference between loans and deposit is around Rs 550 million while cash in reserve is about Rs 1.05 billion. It lends mostly in trading, industry and education sectors and less in hire purchase and margin lending. Pant said the company has refrained from investing in land plotting and real estate though it does grant personal and home loans.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has eight branches including the main branch at Bhatbhateni. Pant tells that ICFC opens a new branch only after the previous branch reaches break-even . It has been launching a new branch every year in a phase-wise manner. He opines, “We are a finance company so opening multiple branches at once will be challenging to manage. We do want to upgrade our status. However, we have opted to wait and watch given the current state of the economy.†He thinks the current liquidity crisis is snowballing into a sort of credit crunch. “We must maintain a strong position with respect to liquidity as we are responsible for safeguarding our depositors’ interests,†he asserted.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC has been giving either dividend or bonus shares to its stakeholders every year on an alternate basis. “A cash dividend of 15 per cent was given last year while bonus shares were issued the year before,†Pant states.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The finance company offers its own ATM services at every branch. It is also linked to the SCT network which has around 1,500 ATM counters throughout the country. Pant says that customer satisfaction is the topmost priority at ICFC. “We provide all banking products and facilities offered by a conventional bank,†he claims. The company provides all banking services including mobile banking, SMS banking and Internet banking apart from locker facilities at some of its branches.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant distinguishes ICFC from similar institutions through its quality of services provided. “Everyone is doing almost similar things in the market but we are more focused on service delivery along with our bouquet of total banking services,†Pant explains.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes that banking industry largely depends on trust which should not be shaken at any cost. Therefore, the company has made corporate governance its top priority. Pant attributes the failure of some banks and finance companies to weak corporate governance rather than liquidity problem. Pant reassures ICFC was safe in the past and will remain safe in the future too. Its reputation has helped build a customer base of around 50,000 people.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC is increasing its access to micro financing through First Micro Finance Development Bank, of which it is a promoter. Little service differentiation between commercial banks and finance companies has led to competition between them. Pant feels that while competition is good and adds excitement to work, ICFC does not indulge in aggressive competition. He thinks customers are spoilt with choices today and are free to subscribe to better services and facilities offered by just any company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">A total of 85 employees work at ICFC Finance Limited. Pant says, “We give equal priority to all ICFC family members and ensure a sense of belonging and job satisfaction. We give our people a lot of independence and authority to meet these objectives.†He adds that the company’s uncompromising attitude in providing facilities at par with the competitors has helped ensure employee retention to a large extent.<br /> <br /> </span></div> <div> <span style="font-size: 9.5pt; line-height: 115%;">ICFC plans to achieve and sustain unprecedented growth in the future. However, it is eagerly waiting for policies that will come in with the new fiscal year. “We can then decide our future course of action,†Pant concludes.</span></div> <div>  </div> <div style="margin: 11pt 0in 0.0001pt; vertical-align: middle;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Team of experienced professionals</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Strong capital base</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity maintenance</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Total banking services</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Focus on service delivery</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Less number of branches</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Small capital size</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Huge market potential</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Services and branches expansion</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Investment possibilities</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity crunch in the market</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Political and policy instability</span></div> <div> <span style="font-size: 9.5pt; line-height: 115%; color: black;">Lack of investment environment</span></div> <div>  </div> <div align="center"> Unaudited Financial Results as of mid April 2011</div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.1pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td style="width: 91.95pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Particulars</span></b></span></div> </td> <td style="width: 99.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Third quarter ending (by mid April)</span></b></span></div> </td> <td style="width: 119.2pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Corresponding previous year third quarter ending </span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Paid up capital</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Borrowings</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">710,000</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">335,000</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Deposits</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">3,059,446</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,3 71,753</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Investments</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">189,835</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">139,468</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Loans and Advances</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,451,804</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,168,906</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Net Profit</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">27,196</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">41,964</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Non Performing Loan in percentage </span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.92%</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.49%</span></span></div> </td> </tr> </tbody> </table> <div align="right" style="text-align: right; text-indent: 0in;"> <i><span style="font-size: 7.5pt;">Source</span></i><span style="font-size: 7.5pt;">: ICFC Finance Limited</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of.....', 'sortorder' => '309', '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' => '392', 'article_category_id' => '39', 'title' => 'Story Of NIDC's Turnaround (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><b><span style="line-height: 120%;">Shanta Bahadur Shrestha</span></b></span></div> <div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 120%;">Chairman</span></span></div> <div style="text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 115%;">NIDC Board of Directors</span></span></div> <div style="text-align: justify;"> We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.</div> <p>  </p> <div> <table cellpadding="0" cellspacing="0" hspace="0" style="width: 1px; height: 15px;" vspace="0"> <tbody> <tr> <td style="padding: 0in; text-align: justify;" valign="top">  </td> </tr> </tbody> </table> </div> <p style="text-align: justify;"> <span style="font-size: 9.5pt;">Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs 1.41 billion in 2005-06, but it is now expecting a net profit of Rs 300 million in 2010-11. </span></p> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">“We are going to make profit this fiscal year and hopefully declare dividend also,†said Shanta Bahadur Shrestha, Chairman of NIDC Board of Directors and joint secretary at the Ministry of Finance, at the 53rd anniversary function of the corporation on June 15, 2011. Highlighting the recent achievements, company’s General Manager and Director Shivjee Roy Yadav noted that the company’s net worth per share that was a negative Rs 193.47 at the end of 2005-06 has now turned positive to Rs 192.87, by mid-April 2011.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Behind the newly-found optimism is a long story of struggle and perseverance. Set up in 1959, this first development finance companybloomed till the early 1990s before sliding into a financial mess. Eventually, the government on February 24, 2004, decided to stop this public enterprise from extending any new loan and to focus on just recovering its investments. The plan was to ultimately liquidate the company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Though the government decision was made on the basis of a recommendation from PriceWaterhouseCoopers, the company’s management was finally able to convince the government that it can be revived and the government stands to lose if the company is liquidated. Then, a new decision was made by the government on March 2, 2009, that allowed the company to work as a deposit taking institution. Thus, the company started functioning as a bank and this change made the company rise from its deathbed and re-establish itself as a vibrant financial institution. NIDC commenced its banking service from February 8, 2010, and now it is a major provider of funds in the inter-bank market, Yadav claims. Meanwhile, the company focused on recovery and sold some of its investments in stocks. As a result, it fully repaid all the loans it had to pay to the Nepal Rastra Bank and the government. “This is indeed an achievement,†says Yadav, Had the government gone ahead with the liquidation as per the PriceWaterhoseCoopers recommendation, the Nepal Rastra Bank and the government would not have got their money back. Rather, they were required to inject additional capital to clear various other liabilities of the corporation.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Today, NIDC has an authorised capital of Rs 1.20 billion of which Rs 600 million is issued and Rs 415 million is paid-up. Its non-performing loan has reduced to 75.6 percent by mid-April 2011 from 99.79 percent a year ago. This has further reduced to 70 percent by mid-June and the target is to reduce it further to 35 percent next year, says Yadav. This year’s revised estimate of the profit is lower than the initial estimate. The initial target was Rs 570 million but that could not be achieved as the plan to realise the loan of Himal Cement by selling the mortgaged assets could not go ahead. Similarly, the plan to sell the corporation’s shares in Nabil Bank and NIDC Capital Market could not implemented, explains Yadav. He expects to make these sales once the country’s property and share markets revive.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Established on June 15, 1959, the company’s mission is to contribute to industrialisation of the country through industrial project financing. Initially, established as a corporation under a special law the Nepal Industrial Development Corporation Act 1959, it was later registered under the Company Act and in 2006 it was made a national level development bank under the Banks and Financial Institution Act 2006.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">From its beginning to mid-April 2004, NIDC invested more than Rs 6 billion in 1,520 industrial projects in different parts of the country. The company estimates that in those projects about 80,000 people received direct employment while 350,000 others got indirect employment.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">NIDC today offers its banking services from its head office in Kathmandu and two regional offices in Biratnagar and Pokhara. The plan is to start banking services also from the Nepalgunj and Dhangadhi offices with approval from the central bank. Meanwhile, the company has started ATM services by setting up an ATM station at the central office and the plan is to set up ATMs in other branches as well in other places of Kathmandu. 9 AGMs in One Go<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">One major recent development of the company is the AGM held on May 7, 2011. It is a major development because there has been no AGM for last nine years from 2001-02 through 2009-10. From the next year, the AGM will be regular, hopes Yadav. One major decision taken at the AGM is to change the company’s name into NIDC Bank Ltd, subject to approval from the relevant authority. <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Currently 99.26 per cent of the corporation’s ownership remains with the government while 0.74 per cent stakes are with the public. Therefore, the company’s shares are not traded in the stock exchange though it is listed there. Presenting the annual report to the shareholders in the May 7 AGM, the company’s chairman Shrestha informed about the plan to issue shares through further public offerings so as to increase its paid-up capital.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Shrestha says, “We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.†</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">According to Shrestha, the company is also planning to offer services like 365 days banking, evening counter, Internet Banking, SMS Banking, Remittance Service, Mobile Banking among other new products. </span><span style="font-size: 6.5pt; line-height: 115%; color: rgb(237, 28, 36); letter-spacing: -0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="margin-top: 8.75pt; text-align: justify;"> <span style="font-size: 9pt;">Financial Statistics of NIDC as of third quarter of 2010/11</span></div> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6.5pt;">Rs in million</span></i></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 3.25pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td rowspan="2" style="width: 86.15pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Particulars</span></b></span></div> </td> <td colspan="6" style="width: 224.45pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="299"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Fiscal years</span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2005/06</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2006/07</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2007/08</span></b></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2008/09</span></b></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2009/10</span></b></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2010/11 by mid April</span></b></span></div> </td> </tr> <tr style="height: 12pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Paid-up Capital</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Net Profit</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(602.8)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.5</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">797</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">172.2</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">354.5</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.4</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Accumulated Profit (Loss)</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1416.2)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1347.3)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(595.5)</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(459.3)</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(179.4)</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(109.5)</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Reserves</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">195.9</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">213.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">372.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">407.3</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">478.2</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">495.6</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Networth/Share Rs</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(293.46)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(172.67)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">46.44</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.48</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">171.86</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">192.87</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Loan Investment</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1712.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1466.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1329.7</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1258.5</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1118.6</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1273.6</span></span></div> </td> </tr> </tbody> </table> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6pt;">Source</span></i><span style="font-size: 6pt;">: NIDC Press Release on the 53rd anniversary day. </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs..........', 'sortorder' => '308', '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' => '391', 'article_category_id' => '38', 'title' => 'Essentials Of Employees’ Learning Habits (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <i>By Kriti Bhuju </i></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">L</span><span style="font-size: 9.5pt;">earning is a prerequisite to growth. Both employers and employees need to enhance their knowledge, skill and ability for continuous organizational as well as professional development and growth in the present context. Learning is essential to keep in tune with trends and developments in our field.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is essentially important to make learning a habit as most employees do not focus a great deal on reading and learning. Employees must have a self realization that enhancing their capacity helps upgrading their own knowledge. They must also have the habit of aligning themselves with others to find out their weaknesses. Some organizations have the practice of skill assessment which motivates the employees to learn new things and upgrade their skills.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is crucial to develop learning culture so that learning becomes a trend in organizations for everybody to follow. It is not advisable to push people to learn; employers must provide learning environment and freedom to create culture. Employees must have the feeling that those who are always ready to learn are more successful in their careers. They are more productive and attentive towards quality than the employees who are not eager to learn. Learning habits come naturally for some. However, some others do not wish to learn until their bosses ask them to. People are bound to follow once a system of learning is initiated. This ultimately yields a positive outcome. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Learning is not a habit at the root level and that is where the problem lies. Organizations need to focus on having a library, learning zone and providing different trainings to create learning habit among their employees. The employees must also develop a tendency to learn from their subordinates. If a person is really interested in learning, s/he should shun superiority complex and be prepared to learn from juniors. However, this is a vital aspect of learning which we do not see in practice.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It helps the employer to create an atmosphere of learning within the organization if a person’s willingness to learn can be identified during the selection process itself. We can learn from any part of the world through e-learning and virtual learning as technology has made learning easier nowadays. Many INGOs have a rule for employees to do a course through e-learning which forces them to learn. They should share their learning and achievement with their co workers after taking certain trainings or completing a course.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">An individual should understand the importance of learning and realize that it is for their own growth in terms of enhancing knowledge, skills and abilities. Learning habit should come from their heart and mind because it cannot be injected in an individual. Learning culture can be inculcated only if an individual is interested in it. Developing a learning culture ultimately helps employee retention and contributes towards employer branding overall.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="text-align: justify;"> <i><span style="font-size: 9.5pt; line-height: 115%;">(The write-up is based on an ‘HR Kurakani’ discussion on “Essentials of Employees’ Learning Habit†on 25 May 2011 conducted by Real solution Pvt Ltd. The participants at the discussion included representatives from commercial banks, INGOs, IT companies, industries, private organizations and freelancers. Shailendra Raj Giri, MD of Real Solutions acted as the moderator of the discussion while Nibha Shakya, HR Executive of the company was the coordinator of the event.)</span></i></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Learning is a prerequisite to growth. Both employers and employees need to enhance their knowledge, skill and ability for continuous organizational as well as professional..........', 'sortorder' => '307', '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' => '390', 'article_category_id' => '38', 'title' => 'OHS & People Engagement (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <i><span style="font-size: 8pt; line-height: 120%;">By Dr Rabindra Karna</span></i></div> <div style="text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 11.5pt; letter-spacing: -0.1pt;">E</span><span style="letter-spacing: -0.1pt;">mployee engagement in OHS (Occupational Health & Safety) is not only critical to its effective management but also an integral part of productivity and quality management at the work place. Achieving this necessitates commitment of all parties concerned – the management, employees and the Union – to meet the objectives and long term approach of an organisation. The existence of issues related to health and safety at a work place has a huge impact over business performances. It adversely affects employees’ performances and encourages absenteeism due to illnesses, injuries etc. Health & Safety, an important element in our daily life, affects everyone including employees, managers, owners, family, society, contractors and visitors. Effective OHS management helps improve the well-being of employees, workplace environment and business operation. All these factors together ensure overall business. The employees’ engagement towards OHS seeks to change workplace culture and beliefs for improved and safe work practices through positive engagement of people, communication and training. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Effective communication is vital for business management wherein periodical group discussions cultivate consultation among the workforce. Health, safety and environmental issues are discussed in these forums in addition to measures for current business improvement and the way forward. These consultations intend to instill the entire organization’s trust and direct everyone to follow the targeted business destination. The employees are encouraged to participate in various decision making practices such as process enhancement, management plans, skills development and risk analysis. This actively encourages open communication amongst the workforce resulting in operation and work culture improvement.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">While trust plays a vital role in achieving desired level of people engagement, it is one of the most difficult tasks for business leaders. Business leadership requires demonstrating consistency in words and action by resorting to fair communication. It supports creation of a culture securing complete engagement of human resources and driving business results. At present, businesses are recognizing safety, health and environmental responsibilities as integral parts of daily routine. They are focused towards preventing occupational injury and illness as well as minimizing adverse impact on the environment. Business operations are extensively engaging in identifying priorities to ensure that these initiatives match people resources and community expectations. They are also working on an awareness drive to see regular communication and basic as well as specialized training on OHS. Employers have the responsibility of providing a safe place and work system. At the same time, employees are responsible for strictly adhering directions floated for safe work practices. Effective safety management requires compulsory integration of health and safety into planning, purchasing, production, distribution, sales and financial aspects of a business. There must be moves with clear understanding and considerations giving equal importance to productivity & quality management. It is because business improvements, risk reduction and efficient cost economy flow from a successful implementation of OHS management system.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Further, industrial relations and OHS are interlinked and these must be recognized throughout management efforts in building productive and safe work environment. The most essential requirement is to train and provide logistical support to the health and safety committee inviting its engagement for generating awareness and workforce’s interest in OHS. It is also inevitable to recognize that the Union plays a vital role in facilitating effective people engagement for participatory mechanism afforded by them keeping industrial relations in mind. This makes the employees, the Union and HR associates key stakeholders leading to dedicated participation towards the OHS program. The Unions and HR practitioners’/associates’ involvement facilitates effective dissemination of OHS process. It also encourages a better understanding of risk exposures and need for the mandatory usage of protective devices, workplace equipment, changed work practices etc on the employees’ part.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">The frequency and severity rate is the traditional form of statistical measurement of incident, accident, injury and illness. These measurements are indicators for cost efficiency, associated cost on workplace safety, loss of working hours etc. More than anything else, people resources utilization largely depends on effective improvement of working conditions to the extent of changing circumstances in the workplace. Constant and regular surveys are popular initiatives aimed at improving public commitment towards health and safety. Top management leadership in association with HR associates is critical in terms of integrating OHS management system into core business and its philosophy. The leadership displays genuine concern for employees’ welfare, provides greater opportunity to succeed and achieve OHS performance at the desired level. This also results in capturing an organization’s greater commitment towards health and safety policies thereby cultivating high degree of awareness and reducing accident and injury risks. At present, the business teams are highly energetic and equipped well with strong communication skills. Most essential and desired expectations can only be achieved with proactive approach, effective engagement and structured coaching. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">One of the key elements of the OHS drive is standard policy and implementation strategy. OHS policy cannot have productive implementation unless it overcomes traditional approaches which deal with troubles as and when they occur. On the other hand, proactive approach is the current practice and need which is based on elimination of causes rather than dealing with effects. Documented OHS system, process and policy demonstrate and quantify the need as well as explain the necessity while obtaining commitment from all parties in writing. An OHS system enables coordinated approach to health and safety instead of dealing with conflicting information leading to confusion. Any uncertainty pertaining to work practices amongst people resources exposes organizations to unacceptable risks. Though many organizations perceive health & safety management implementation as too difficult, there are key advantages of systematic implementation and health & Safety management. Investment towards OHS management system minimizes workplace illness and injury and contributes towards reducing direct and indirect cost to the company. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Above all, the feedback from the workforce is important evidence to measure OHS effectiveness and employee engagement. It plays a vital role in improvising OHS strategies and works as an eye-opener towards improvement needs in the current system. It quantifies actual measures of OHS performance which is open for manipulation through leave arrangements, changing shift of the affected employee etc. Both formal and informal feedback must be applied for qualitative checks on OHS program practices within the work schedule. While OHS encourages people’s contribution towards internal processes and learning, workers and the Unions are more likely to commit themselves and participate in best practices. As a matter of fact, this is essential for employee engagement in dealing with OHS in the form of a joint OHS committee and other participatory mechanisms such as labor relation committee.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">It is also advisable to involve people through workplace inspection, periodical interaction with operational team and work groups and measurement and evaluation exercises. This is where an organization instills the opportunity to drive the changing process of OHS management system. It ensures prevention from future injuries, accidents and illnesses. This can be taken as the best opportunity in view of the well known and accepted fact ‘Prevention is always better than cure’. </span></div> <div style="text-align: justify;"> <i><span style="letter-spacing: -0.1pt;"> (Dr Karna is the Executive Chairman of MARK Business Solutions Pvt Ltd and Ad Abhyas Marketing & Communications Pvt Ltd. The article is based on various research reports and his practical experiences as management practitioner.)</span></i></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Employee engagement in OHS (Occupational Health & Safety) is not only critical to its effective management but also an integral part of productivity and quality management at the......', 'sortorder' => '306', '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' => '389', 'article_category_id' => '38', 'title' => 'Deep Leadership(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <i><span style="font-size: 8pt; line-height: 120%;">By Sujit Mundul</span></i></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 12.5pt;">W</span><span style="font-size: 9.5pt;">hen considering management in the decade of 1990s, three important observations could be made: The massive efforts made to change the way organizations operate, the astonishing degree of failure that accompanies all but a handful of such attempts, and the radical aversion to risk-taking. One might think that the high degree of failure has provided us with a mountain of data to understand the causes. This is a correct assumption. In the same breath, one might also contemplate that the data load enables us to predict a successful route to change; but this is probably wrong. We know why change goes wrong, but we find it enormously difficult to make changes work.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The problem of change is especially significant now. Because as we see management and organizations in the western world appear to be in a state of constant turmoil as change follows change in an ever more frantic attempt to reverse what it took two centuries to construct. The traditional methods of organizing business including public services, no longer seem viable.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is possible that organizations are really autistic; in other words, organizations rather than their leaders are unable or unwilling to listen to what others are saying to them. Perhaps, their strategic intentions are rolled out irrespective of the advice that is being offered to them. In this context, one could possibly agree that IBM went through a phase of being an autistic organization, as its market share crumbed and its leadership continued to exercise the less than successful strategy despite internal and external criticism and advice that the company was going wrong.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Keith Grant in his famous article “Managing Change through Commitment†mentioned:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">“Now that we have uncovered some possible benefits and disadvantages with commitment as a panacea for change … I want to consider the extent to which leadership can displace the problematic fuzziness of subordinates with a transparent way forwardâ€. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Let us now focus on the significance of leadership rather than change. These two very often appear to be linked: leadership in itself implies change. So, let us look at the significance that different contemporary theories attribute to leadership. In traditional models, leaders are the critical sine qua non, but some current approaches attribute very little to leadership, or reconstruct the meaning of the term to change the entire debate. Leadership is amongst the most perspective areas of management knowledge.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Despite an enormous outpouring of material during the second half of the twentieth century, we appear to be little closer to understanding leadership than either Plato or Sun Tzu, who began the written debate several thousand years ago. Since post-war period it appears that we have gone full circle: From assurances that personality traits were the key, though equally valid counter argument that the situation was critical, to a controversy over whether the leader was person or task-oriented, and back to finding out the charismatics whose visions and transformational style would explain all (Bryman 1992). During this latter period there has been a prescriptive urge to push leadership in an empowering direction so that Super Leadership (Manz and Sims, 1991) can ensure that Leaders work to free up the skills and potentials of their subordinate rather than throttle initiative in bureaucratic and functional hierarchies. Now, let us touch upon a different aspect of leadership: Personality. More importantly, stable personality. When we see the boss sacking an employee for some minor mistake we know just how hard–hearted she is; when she brings her baby to work she seems quite different, almost pleasant. Keith Grant has cited another example when someone reveals her school report it is quite difficult to imagine the “shrinking violet of 2b†against the assertive CEO now standing before us. Yet, according to another colleague, she isn’t assertive at all, but downright aggressive. Could she be all these things to different people? Could it be that there is no solid centre here, no core characteristics that remain unchanged across time and space? Or perhaps, it is the people who interact with her, who construct the character? If this is so, is there no essential “essence†to people, but merely a character that is constructed through various relationships? Which characterization prevails over time tends to depend upon who has the power to reproduce it; thus accounts of popular figures may change with each biography! Indeed, a difficult proposition. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The concept of Deep Leadership suggests that leadership processes and practices, not roles are critical; that leadership is deeply and systematically present throughout all levels of the organization and not just at the formal top of the hierarchy; and that the fixation with formal leaders or Shallow Leadership and not informal or Deep Leadership is also rooted in an epistemological approach that perceives leadership to be only the effect of leaders and never the consequence of followers. It may be that leadership is an ineffective phenomenon in terms of the survival of organizations as population ecology models suggest or that leadership is merely the requirement of normative pressures as institutional theory suggests or that it is merely a myth whose purpose is to ensure the survival of the leaders themselves (Gemmill and Oakly, 1992).</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The approach towards Deep Leadership also seeks to examine the extent to which individuals who are regarded as being leader whether formal or informal are able to affect and effect their own version of events. It might be, for instance, that the crucial difference between leadership and non-leadership does not lie in the particular act or process, but in the ability of some individual to prevail over others. Another question comes up: Is leadership rather like history just the acts of victors? It may even be that acts of Deep Leadership are indeed identical at all levels but only formally recognized where they oincide with formal authority. Or alternatively, it may be that leadership styles and processes do differ between the levels of hierarchy so that there are qualitative differences between the leadership in the shop-floor and the leadership in the boardroom. </span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;"> <i>(Mundul is a Director with Standard Chartered Bank Nepal Ltd)</i></span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'When considering management in the decade of 1990s, three important observations could be made: The massive efforts made to change the way organizations operate, the astonishing......', 'sortorder' => '305', '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' => '404', 'article_category_id' => '31', 'title' => ''Nepal Is Mature Market For Notebooks' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> Albert Tung is the Regional Director for India and SAARC Region of Asus, a Taiwan-based computer manufacturing company. He was in Nepal recently to attend a dealers’ meet of his company. Asus is gaining momentum in computer products and IT sector worldwide and is claimed to be number three for notebooks in consumer segment and number one in motherboards, worldwide. In an interview with New Business Age, Tung talked about the company’s strengths and strategies for Nepal. Excerpts:</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>What was the purpose of this dealers’ meet in Kathmandu?</strong></div> <div style="text-indent: 0in; text-align: justify;"> We have come from Taiwan for the Asus dealers’ meet in Kathmandu which has participation from all our major dealers here as well as some from Bangladesh. Through this event, we wanted to appreciate our dealers for their efforts. During the meet, we updated dealers with product knowledge and apprised them of our products’ performance worldwide. With the conclusion of this meet, we are encouraged to work harder in this market.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <b>What are the potentials of Asus products for the Nepali market?</b></div> <div style="text-indent: 0in; text-align: justify;"> We see good potential for our growth in the Nepali market. We need to work with our partners more closely to have better business. Asus has always emphasised on superior product and quality design. Though we are fairly new in Nepal, we are working hard to introduce our products among the targeted consumers here. The competition is tough as established rivals like Apple are already ruling the market. I have learnt that it’s a mature market for notebooks. So, even though we are primarily known for motherboards, the challenge is to introduce our notebooks to the end users.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>What distinguishes Asus from its competitors?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Asus is basically a motherboard manufacturing company. All computers require CPU and motherboard and worldwide, Asus is number one in motherboard technology. This is where our core competence lies. For example, while purchasing a good notebook, you should not only consider the brand but the technology inside as well which is vital.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How strong is Asus’ international market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Asus leads the market worldwide when it comes to motherboard which is a very important component inside a PC. Encouraged by our top position with motherboard technology, we have also achieved number three position in consumer segment for notebooks worldwide. We want to continue the good work and lead the market for as long as possible.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Do you have any specific strategies in mind to penetrate the Nepali market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">We have been in this industry for 10 years in notebook and 20 years in motherboard technology. For the Nepali market, our strategy is to cooperate with the local partners here and tell them about our superior product quality, service and technology. Besides commercial advertising and branding, we are focused on taking care of our product quality once the consumer starts using it. Our simple strategy is to penetrate the market with honesty. We want the market to know that they should select an Asus product for its quality technology.</span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Computer technology is changing rapidly. How challenging is it to maintain a competitive edge in the market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Computer technology is changing with new technologies related to CPU, memory and other specifications coming up quite frequently. At Asus, we have the confidence because of our technology and the expertise in designing a motherboard. We know we have an edge in the market because of the support from our proven motherboard technology.</div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Albert Tung is the Regional Director for India and SAARC Region of Asus, a Taiwan-based computer manufacturing company. He was in Nepal recently to attend a dealers’ meet of his company. Asus is......', 'sortorder' => '319', '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' => '403', 'article_category_id' => '31', 'title' => ''We Want To Be Ready When The Economy Takes Off' (2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> Ali Jaleel is Dell’s General Manager for South Asia Developing Markets Group. He heads the Growing Economies business and looks after the markets in 20 countries including Pakistan, Bangladesh, Sri Lanka, Brunei, Nepal and Mongolia. He was in Nepal recently to launch Dell Inspiron R series laptops. In an interview with New Business Age, Jaleel shared his views on Dell’s position and prospects in the Nepali market. Excerpts:</div> <div style="text-align: justify;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">You have just launched your new Inspiron R series laptops in Nepal. How will this launch boost your outreach plan to penetrate Nepal’s consumer computer market?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are very excited to launch this particular product which we also call the queen series. It is unique because you can actually change the lids and use various designs as per your liking. We are hoping that we will see very positive response for this product. The infrastructure is also quite developed with Gen Next (Generation Next Communications) as our partner and reseller here in Nepal. We now have outlets at locations that were not there before.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">What made the Gen Next, your partner here, win the award of Dell’s most valuable partner for Nepal?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">They have been very impressive and done all the right things. They focused not just on sales but also on after sales, on above the line (ATL) activities, growing the market outside Kathmandu etc. Therefore, we feel they have the right ingredients. Along the way, we are going to learn new things from them and I am sure they too are going to learn from Dell. We both feel that it is going to be a long-term relationship. Nepal is a strategic market for us and we want to be ready when the economy takes off.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">As for the awards, our partners from South Asia and Korea join us in various locations once a year. It is usually in Malaysia or Singapore because our regional headquarter is in Singapore and factories are in Malaysia. We have started a tradition of selecting partners on the basis of extraordinary performances. This is where Gen Next was selected for their stand out performance and awarded with Dell’s most valuable partner for Nepal.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">How is your experience in the Nepali market so far?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We have been here for many years actually but mostly in an enterprise-way and not in a direct one. We have started making investments here only about six months ago. Gen Next is relatively new for us here but our business has really taken off in the last year or so. Nepal is a good market for us where our business has been growing steadily. There are a couple of very positive signals – one is that the economy is very resilient and the other is, when exponential growth happens, it is good news for all organisations that have invested.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">Who are your major competitors in the local market and where do you stand vis-a-vis the competition?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We would consider HP to be our closest competitor. We are competing with Acer and Lenovo in consumer base and IBM in the enterprise base. It is actually good to have competition because it keeps everyone on their toes and focuses on consumers’ interests first.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">What gives you the confidence that the New Inspiron R Series will hold its own in the market that’s already flooded with similar products? How do you plan to position yourself in the market for this particular product and establish brand identity?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are very confident about the product and the quality. The innovation we have put in is something very unique. We are quite confident that it will find its own niche, build a loyal customer base and do us good. When you talk about a product, it is important to have different ranges because people have different requirements. Some may like a 12-inch screen while some other prefer a 15-inch screen. Therefore, we have positioned this particular product by giving options of varied screen sizes. They also have the option of making their notebook look different according to their mood. The reception has been very positive during its launch in some other countries a few weeks prior to that of Nepal. It is now available in Pakistan, Bangladesh, Malaysia, India and China besides Nepal.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are already showing our intent to grow here and you must have started seeing it already. This is just the beginning for this particular product. Technology moves very fast so we have to keep focusing on the Dell brand. And under Dell, we have to keep focusing on Inspiron as well as other products. We will continue to appear above the line to establish brand identity.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">How do you assess the Nepali market overall? What are your expectations from the market in the foreseeable future?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">Overall, I was very impressed with the sophistication of some people I spoke to. They are very well informed. In enterprise base, customers from various industries know exactly where they want to be and the technologies they want to embrace. This is very good because it means half the work is done since we don’t have to educate the customers who are already very informed. Similarly, people seem to be quite well informed about technology in consumer base as well. The young generation here is very internet savvy and has all the information. As a matter of fact, they ask questions about technologies which are not yet available in Asia which is really interesting. These technologies are either introduced or are being planned to introduce in countries like the US. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="text-align: justify;"> <span style="font-size: 8.5pt; line-height: 115%;">We do feel that we will continue to have organic growth which is fine with us because we are making the investments now. We are hoping that once the elections happen and a new government comes in, there will be more projects. A good number of projects especially on the government side are something we are eager about. That will definitely help us grow exponentially because right now, our growth is pretty organic.</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Ali Jaleel is Dell’s General Manager for South Asia Developing Markets Group. He heads the Growing Economies business and looks after the markets in 20 countries including Pakistan, Bangladesh, Sri Lanka........', 'sortorder' => '318', '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' => '402', 'article_category_id' => '31', 'title' => ''We Must Use Land In A Very Discretionary Manner' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 11pt;">World-renowned architect Hafeez Contractor was in the city to launch his first project in Nepal called Westar Skyliving -- a twin-tower apartment block close to Hotel Soaltee Crowne Plaza in the heart of the city. Targetted at the high-end clientele, this 14-storey luxury high-rise apartment project on 7.10 ropanis will have 77 percent of the project area reserved for open space and water bodies. Contractor is a member of Bombay Heritage Committee and New Delhi Lutyens Bungalow Zone Review Committee. After completing his graduate diploma in architecture from Academy of Architecture in Mumbai, he finished his graduation and MS in Architecture from Columbia University, New York. Among other projects, Contractor has also designed The Imperial I and II, the tallest buildings in India. His projects are spread across India, South Africa, UAE and the US among other countries. In an interview with Pinaki Roy of <i>New Business Age</i>, Contractor talked about Nepal’s transforming skyline and the housing industry. Excerpts:</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">What is your assessment of the housing industry in Nepal?</span></strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">We are facing shortage of houses in Nepal and India. Not only that, housing shortage will be greater in the days to come with rising population and more people moving into the cities. Therefore, we have to find a way out to deal with the problem of housing shortage. We should discourage the individual housing system in every South Asian country including Nepal. The land is ever decreasing with construction of stand-alone houses and the truth is that we can’t produce additional land.</span> There is an immediate need to redevelop old buildings here. By doing so, taxation levels can be increased and the cities can get rich. The cities can then plough money into infrastructure which is most important.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: 0pt;">Tell us in brief about your association with Westar Skyliving. </span>I am interested in Nepal because apartment culture has been developing here of late. The people buying these apartments should be offered hassle-free living conditions and I hope my expertise of over 30 years will help fulfil this objective. This particular project ‘Westar Skyliving’ was proposed to me by its promoter Golyan Group and it interested me due to its international standards. With my involvement in this project, I want to demonstrate innovative ways of designing and executing an apartment project.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">Given the fact that Nepal falls in the Seismic Zone 5, how do you view the increasing construction of high-rises here?</span></strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">The fact remains that high-rises are a very important today because we have a restricted amount of land. And, we have to make use of the land in a very discretionary manner. Up till now, we have been wasting land by keeping open spaces where we can do nothing. We need proper, large green spaces and we have to think about our subsoil water which is going down because of the indiscriminate growth of our cities. The water gets washed off and does not percolate down. High-rises are very important indeed and it is equally important for the people involved to build high-rises in the right manner. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> Earthquakes are going to come some day or the other so we should be better prepared for that. Design and construction of skyscrapers should be as per the code otherwise we are in big trouble. I feel the government should take a very firm stand against people who are not adhering to this. In the event of an earthquake, buildings may collapse because the builders may not have designed the buildings as per earthquake loads. Suddenly, the media and everyone else will start saying that high-rises are bad.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">Will you be involved in more Nepali projects in the foreseeable future such as public structures and slum redevelopment?</span></strong></div> <p style="text-align: justify;"> Yes, definitely. Besides working with the private sector, I will be looking for opportunities to work with the government as well. The government must look at providing sustainable housing options to the citizens of this country. It’s sad but true that despite having tremendous potential, the apartment business has not registered the desired growth in Nepal. We must look to introduce easy apartment systems that will accommodate large number of people under single roof. I will be working in this direction in Nepal.</p> <p style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">What’s your recommendation for the Nepali architects? </span></strong></p> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">I have come to Kathmandu after 2-3 years and I saw a lot of glass buildings. I would be very happy if a touch of local architecture and materials are given to the buildings being constructed. It happens that while living in one region, we like what is there in the other region. This phase will go away with time and you should let it happen. You should maintain old buildings because heritage is extremely important.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'World-renowned architect Hafeez Contractor was in the city to launch his first project in Nepal called Westar Skyliving -- a twin-tower apartment block close to Hotel Soaltee Crowne Plaza in the heart..........', 'sortorder' => '317', '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' => '401', 'article_category_id' => '31', 'title' => ''Nano Will Make Motoring Affordable In Nepal' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt;"><strong>Johnny Oommen</strong> is the Head of International Business, Passenger Car Unit for Tata Motors Limited. Oommen has a proven track record in bottom-line results, strategic marketing, problem solving and people management. He has also worked for top brands like BMW, MINI, Rolls-Royce, General Motors India and even Sony Entertainment Television. Oommen was in Kathmandu last month to launch the much-awaited Nano car in Nepal. In an interview with <i>New Business Age, </i>he shared his views on Nano’s market prospects and its suitability for the Nepali roads. Excerpts:</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Nano is now in Nepal. How do you feel about it?</strong></div> <div style="text-indent: 0in; text-align: justify;"> It is a momentous occasion for us. When we launched the Nano in India nearly two years ago, we were clear that a product like Nano will find its way to markets that are closer to India. Nepal, as you can see, today is one of the earliest markets outside India that we have decided to hit with Nano. We are very optimistic and confident that Nano will find acceptance across Nepal.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How is the car doing in India?</strong></div> <div style="text-indent: 0in; text-align: justify;"> We have principally launched in India and Nepal is one of the earliest markets outside India. In India, the car has stabilised and is doing quite well. We initially had supply problem then we went into producing as much as the pipeline demand we had. Today, we have really expanded production and distribution capacity and we have 617 dealerships and sales point in India. We are going to introduce 300 exclusive Nano outlets in the coming month. So, the Nano is definitely looking good in terms of results in India.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>In Nepal, Nano is going to cost much higher than in India because of high tax rates. How do you see that?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Well, even in India, the pricing has moved up because of increase in import cost, material cost and distribution cost. So, today Nano is more expensive than it was two years ago. In Nepal, the duty and tax structure is such that there is 240 per cent increase over the price that we have in India. Despite that we are able to bring the Nano into Nepal in extremely attractive price. We believe that despite all that multiplier, we are offering a product that will make motoring affordable to a lot of Nepali population. Just to give you an example, starting price of the Nano Standard is Rs 798,000. Thanks to the tie-ups, we have got into with as many as 10 banks, we will be able to, for instance on the Standard, take a down payment of Rs 10,000 and work out a monthly instalment of Rs 11,111. So, that is a very attractive proposition. I think we are only adding to the expectation around Nano being a very affordable, acceptable motor.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Do you have any volume-wise target sales for Nepal?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Sky is the limit. We are looking at various segments. We believe as a car, it has potential for people who are currently without a car. Let’s say they are using two-wheelers. We are looking at the people who have just started working, first-time job holders, young couples, small families, and of course people who already have one or two cars and are looking at additional small vehicle in the family. We believe, if we look at each of these segments, there is a lot of potential and we have increased production capacity in India so we are in a position to fulfil the demand in the Nepali market.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How do you see the Nepali market demand for cars, especially for Nano?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Even though the industry for a couple of years may not have grown as per the expectations of most of the automobile manufacturers and even the Nepali economy, we believe that the Nano is a product so attractive, packed with features like space, compactness, safety, manoeuvrability and fuel efficiency, all these are extremely attractive points. We believe with all these, it should be able to attract far more people in Nepal. We believe in creating a new segment. While people may be considering other cars, it will draw new people into the world of motoring. In that sense, it is really a limitless kind of thing. It is difficult to predict but our expectations are high.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How did you find the reaction of people here after the soft launching and beginning of Nano Yatra?</strong></div> <div style="text-indent: 0in; text-align: justify;"> So far, it has been overwhelming. We have received more than 5,000 enquiries, which is not a small number. It is very encouraging. We are only looking forward to actually start delivery. We will be announcing booking today and hopefully within a month’s time we should be able to start delivering.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Nano is the cheapest car in the world. How was it possible to make a beautiful car in such low price?</strong></div> <div style="text-indent: 0in; text-align: justify;"> The perception of cheapest car might have a lot of people believing that we must have cut corners or compromised. The truth is that Nano is the result of intelligent innovation. We have designed the car in a completely new way so that we were able to rethink how to manage cost and a lot has been done without making compromises. In terms of compactness, it is eight per cent more compact than the closest competitor. In terms of space inside, it is 21 per cent more spacious than closest competitor. In terms of gradability, it is as good as any other competitor. In terms of ground clearance, it is as good as or better than cars in one or two segments above the Nano. In terms of fuel-efficiency, the Automotive Research Association of India has certified fuel-efficiency of 23.6 kilometres per litre. Even in city driving that becomes around 20 kilometres per litre. It is still by far the best among others in Nepal. So, all of this is what we call innovative. These are all important to the customers and in fact they are better than what competitors offer. We have been able to do this in lower costs and that is what we would like to gift Nepal today.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Sometime back, there were questions raised on the safety of Nano because there was abrupt fire on board. How has the company addressed the safety issue?</strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.05pt;">On the couple of incidents that happened, I must inform you that essentially they were to do with placement of some foreign object in the car. We can only certify that the Nano is an extremely safe product. It has been built with the highest standards of quality and after these couple of incidents; we actually improved whatever we needed to ensure that any such acts of unauthorised placing do not happen. It is difficult to expect any such incidents in the future. After those incidents happened, notwithstanding the fact that we knew Nano is a safe product, we submitted the car to a fresh investigation of design and everything in entirety. That investigation team included experts from outside Tata Motors so that it is a completely new investigation. You can often be blind to certain things because you believed the product for six to seven years is absolutely a safe product with the robust design and state of the art innovation. Despite our researches and belief, later we decided to make the robust car even more robust. We made enhancements to make it even more robust.</span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> As a testimony of our confidence in the product, we are offering for the first time in the Nepali market, a four-year or 90 thousand kilometre warranty. Nobody else does that. We are extremely confident about the product and I think this warranty provision itself certifies the fact that we believe in safe, sturdy and robust car.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Given the hilly terrain and not so perfect roads even in cities, is Nano the right car for Nepal?</strong></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Nano Yatra has been going on for a month now. It has covered around six thousand kilometres. That is not very long distance but we are glad to report you that it has performed extremely well. It is very robust and sturdy. It has gone across Nepal and we still have a lot of territory to cover. We will be doing 40 thousand kilometres. We are very confident that it will prove itself because we have extensively tested the car in India. The car has been driven on the highest motorable road in the world, Khardungla. We have gone across terrains and we are confident that the same performance that Nano has shown elsewhere will be shown in Nepal. Given the hilly terrain and narrow road, there could be nothing perfect than Nano. Its small size and its gradability makes it really perfect vehicle for Nepal.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Johnny Oommen is the Head of International Business, Passenger Car Unit for Tata Motors Limited. Oommen has a proven track record in bottom-line results, strategic marketing, problem.......', 'sortorder' => '316', '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' => '400', 'article_category_id' => '42', 'title' => 'Budget Hopes (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <i><span style="font-size: 8pt; line-height: 120%;">By Bikram Chitrakar</span></i></div> <div> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">N</span><span style="font-size: 9.5pt;">epal's stock market has started showing some hopeful signs in recent days though during the month till mid-June it was falling down a precipice. The benchmark Nepse index plummeted 43.38 points or 14.29% to settle at 303.53 on June 16. The highest points in the review period was on 18 May (346.91) and the lowest was on 15 June at 292.32, which is lower that what it was on 25 Jun, 2005 (292.47). </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Nepse plummeted after a panic spread across the banking and financial institutions due to liquidity crunch and bad governance. The governance crisis which had started from Nepal Development Bank two years ago and spread to Samjhana Finance Company gripped Gurkha Development Bank and Nepal Share Markets as well. Recently, most of the banks and finance companies are suffering liquidty crisis and they are turning to Nepal Rastra Bank (NRB) for help. NRB has opened refinancing facility to address the problem. Under this facility, there is a provision to provide refinance up to 60 percent of the core capital of the banks and financial institutions.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">During the review period, the Securities Board of Nepal (SEBON) introduced the mutual fund regulation, CDS regulation and Credit Rating Agency regulation. However, all these failed to uplift the market which fell to six years low. Therefroe, the government has urged cash rich public sector instituions namely Employees Provident Fund, Citizens Investment Trust (CIT), Rastriya Beema Sansthan and Nepal Telecom to invest in the secondary market and create demand for shares so as to boost up the market confidence.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The result has been that the market surged 60.87 points during the week 16-23 June. Also the hope that the government’s budget for the coming fiscal year that starts on mid-July will be presented to the parliament in time has helpd in the latest surge in the market. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Delay in presenting the budget for fiscal year 2010/11 is cited as the prime reason for the liquidity crunch. Due to that delay, a massive sum of Rs 30 billion in the government budget is likley to freeze as the government is not able to speed up expenditure. The delay in the current year’s budget was due to obstruction of the parliamentary proceedings by the then main opposition party UCPN-UML. But the present main opposition party Nepali Congress has indicated that it will not cause obstruction in the parliamentary proceedings related to budget approval.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="">Performance by Sector<br /> <br /> </span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">During the review period, the banking sector which holds the major share in the volume of trade in Nepal Stock Exchange plummeted 57.20 points or 23.02% to close at 248.44. Hydropower sector lost 178.81 points or 36.85% to settle at 485.3. Insurance sub-indices descended 25.25 points along with 23.96 points decline in the trading companies group. Similarly, development banks declined 20.89 points or 7.52% to 277.8. Hotel sector receded 14.70 points or 3.67% to rest at 400.35. Finance sector slumped 9.58 points to close at 295.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Sensitive index that measured the performance of 117 blue chips scrip at the secondary market lost 11.03 points or 14.75% to 74.8 while, the float index calculated on the basis of real transaction lost 4.10 points to arrive at 25.15. Total of Rs. 426328626 was realized during review period from 1987186 units of share traded via 25826 transactions.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The accompanying figure depicts the sector-wise distribution based on the total volume of trade. Commercial bank has occupied the highest share of trade - 48.90% while Development Bank group accounted for 16.52% and hydropower sector 14.97%. Similarly, finance sector’s share was 8.32% while the remaining sectors covered the rest.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Technically, Simple Moving Average (SMA) is dominating the market in the short term as well as in the long term as both 30 days SMA and 200 days SMA are performing poor. Similarly, the Nepse index is bending which will suggest further fall if it fails to stabilize near 300. But since the June 16-23 week has pulled the index up to 364.4, the market has become optimistic again.<br /> <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <i><span style="font-size: 9.5pt;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)<br /> <br /> </span></i></div> <div> <i> </i></div> <div align="center"> <span style="font-size: 10.5pt;">Movement in Indices (18 May - 16 June 2011)<br /> <br /> <br /> </span></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.45pt; border-collapse: collapse;"> <tbody> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-color: rgb(204, 123, 74) white white rgb(204, 123, 74); border-style: solid; border-width: 1pt; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="94"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Indices</span></b></span></div> </td> <td style="width: 39.35pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="52"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Open</span></b></span></div> </td> <td style="width: 38.65pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="52"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">High</span></b></span></div> </td> <td style="width: 40.1pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="53"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Low</span></b></span></div> </td> <td style="width: 38.05pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="51"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Close</span></b></span></div> </td> <td style="width: 37.75pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="50"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Change</span></b></span></div> </td> <td style="width: 47.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="63"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">% Change</span></b></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Nepse</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">346.91</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">346.91</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">292.32</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">303.53</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-43.38</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.29</span></span></div> </td> </tr> <tr style="height: 14.9pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Bank </span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">305.64</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">305.88</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">234.01</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">248.44</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-57.20</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-23.02</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Sensitive</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">85.83</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">85.98</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">71.7</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">74.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-11.03</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.75</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Development Bank</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">298.69</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">299.37</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">277.7</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">277.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-20.89</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-7.52</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Hydro</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">664.11</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">664.11</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">473</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">485.3</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-178.81</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-36.85</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Finance</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">304.58</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">304.58</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">295</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">295</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-9.58</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.25</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Insurance</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">426.05</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">426.05</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">398.1</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">400.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-25.25</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-6.30</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Hotel</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">415.05</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">415.05</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">398.66</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">400.35</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.70</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.67</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Manufacturing</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">504.17</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">504.17</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">483.25</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">501.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-2.37</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-0.47</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Tradings</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">265.96</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">265.96</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">241.97</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">242</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-23.96</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-9.90</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Others</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">477.04</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">486.44</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">430.1</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">460.6</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-16.44</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.57</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white rgb(204, 123, 74) rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Float</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">29.25</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">29.25</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">24.3</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">25.15</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-4.10</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-16.30</span></span></div> </td> </tr> </tbody> </table> <p> </p> <p> </p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-09-16', 'keywords' => '', 'description' => 'Nepal's stock market has started showing some hopeful signs in recent days though during the month till mid-June it was falling down a precipice. The benchmark Nepse.......', 'sortorder' => '315', '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' => '399', 'article_category_id' => '45', 'title' => 'Corporate Movements July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>New comers<br /> <br /> <br /> Yogesh Dhakal </strong>has joined Full Bright Consultancy Pvt Ltd, Maitidevi, as IT Manager. Earlier, he was ICT (Information and Communication Technology) Chief at Hydro Solutions P Ltd, Swayambhu.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Raju Dhoj Thapa</strong> has joined Bhancha Ghar as General Manager. Earlier, he was a Hotel and Restaurant Consultant.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Sandeep Kumar Rai </strong>has joined Casa Toscana as Sous Chef. Earlier, he was Chef De Pati at The Oberai Raj Villas, Jaipur, Rajasthan, India.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Pradeep Khanal </strong>has joined Kist Bank as Head-Risk Assessment Department. Earlier, he was Branch Manager at Everest Bank's Pulchowk Branch.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Prakash Baral </strong>has joined Kist Bank as Risk Manager Credit Risk CA Department. Earlier, he was Manager of Lending department at Nepal Bank Limited, New Road.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Madan Rauniyar </strong>has joined Emami Limited as National Sales Manager for Nepal, International Business Function. Earlier, he was Country Manager at Cavin Kare Pvt Ltd.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Manoj Bhattarai</strong> has joined DCBL Bank Ltd as General Manager. Earlier, he was CEO of Nepal Life Insurance Company.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Pradeep Kumar Shrestha</strong> has joined Tinau Development Bank, Butwal as General Manager. Earlier, he was Branch Manager at Sewa Bikas Bank Ltd, Butwal.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Yadav Bhattarai </strong>has joined Janata Bank Ltd as Branch Manager of Butwal branch. Earlier, he was Operation In-charge at Global Bank Ltd, Butwal.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Neeraj Kumar</strong> has joined Sumy Distillery as General Manager. Earlier, he was a Director with Marketing Access.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Aditi Shrestha</strong> has joined International Finance Corporation (World Bank group). Earlier, she was associated with Beed Management/ Beed Invest.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Murari Gautam</strong> has joined Marigold IT Solution Pvt Ltd as Managing Director. Earlier, he was with Nepa Hima Trade Links Pvt Ltd as Deputy Marketing Director.<br /> <br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><u><strong><i>Promotions<br /> <br /> </i></strong></u></span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Rajendra Subedi </strong>has been promoted as Acting CEO of Pashchimanchal Development Bank, Butwal. Earlier, he was the Assistant General Manager there.<br /> <br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><u><strong><i>Transfers<br /> <br /> </i></strong></u></span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>P R Mishra </strong>has taken charge as CEO of Life Insurance Corporation Nepal Ltd in place of P Muraleedharan who has been transferred to National Insurance Academy, Pune as Faculty Manager. </span></div> <div> <span style="font-size:12px;"><br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-08-31', 'keywords' => '', 'description' => 'Yogesh Dhakal has joined Full Bright Consultancy Pvt Ltd, Maitidevi, as IT Manager. Earlier, he was ICT (Information and Communication Technology) Chief at......', 'sortorder' => '314', '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' => '398', 'article_category_id' => '38', 'title' => 'Environmental Sustainability July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12.5pt;">B</span>lue Ocean Systems (BOS) is committed to generate awareness and bring about substantial changes towards environmental sustainability. In this context, BOS organized a day-long hiking trip to Shivapuri titled Team Building towards Sustainability on 15th April this year. It was a team building event with the sole purpose of cleaning up the waste in the Shivapuri Mountain.</div> <div style="text-indent: 0in; text-align: justify;"> <br /> </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.25pt;">Though the event was a fun-filled one, it was heartbreaking to see the Shivapuri's beautiful surroundings marred by waste left behind by hikers and picnickers. This careless garbage dumping has attracted many pests and contaminated the nature's reserve. There were food wrappers and plastic plates with food remnants lying around which not only disturbed the beauty of the place but also hampered the eco system of the area. </span></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.25pt;"> <br /> <br /> </span></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">BOS team successfully accomplished the Shivapuri summit clean-up plan by managing to collect the garbage in Shivapuri hill area in less than 30 minutes. At the end of the cleaning exercise, we asked ourselves, Why couldn't people clean their own waste? If every visitor to the park acknowledged their responsibility to preserve the national park by adhering to cleanliness, Shivapuri Mountain would be a magnificent place for all visitors. </span></div> <div style="text-align: justify;"> <br /> </div> <div style="text-align: justify;"> We thought of recommending the following tips to hikers for making their tour worthwhile without compromising on the fun.</div> <div style="text-align: justify;"> <br /> </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">BOS shall continue to work towards keeping the environment clean and invites people who wish to use our services to work with us. Together, we can ensure environmental sustainability alongside our various professional tasks.<br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2013-05-24', 'keywords' => '', 'description' => 'Blue Ocean Systems (BOS) is committed to generate awareness and bring about substantial changes towards environmental sustainability. In this context, BOS organized a......', 'sortorder' => '313', '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' => '397', 'article_category_id' => '38', 'title' => 'Prepare Yourself With SAP July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in;"> <i>By Aparajita Acharya</i></div> <div> <br /> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 14.5pt;">E</span><span style="font-size: 9.5pt;">fficiency has become a key factor in today's fast paced business scenario. The trend projection suggests that businesses shall get even more competitive in the days to come. And obviously, as businesses get bigger, they will require more professional systems to stay together and prosper. This is where SAP business solutions come in. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">The demand for SAP trained individuals is increasingly on the rise with SAP becoming one of the most sought-after ERP business solutions today. As every individual appraises his/her own credentials and adaptability in today's cut-throat global competition, companies hire and fire largely mindful of the flexibility, competence and productivity of their staff. Therefore, the question is that of acquiring competence which helps understand businesses in their essence. You must find ways to assure that you never become outdated and easily adapt to the new needs of the growing market.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">Companies try to find people who are already well trained when new recruits are needed to fit into multiple roles. So it becomes essential that you are precisely trained to be saleable in the job market. Among many ERP business trainings on offer, SAP training makes you fit to carry out a multitude of roles and helps you become proactive in understanding business processes and flexible to market requirements. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">Armed with a SAP training, you will be already qualified to kick start your career at a higher level in established companies despite entering the market at a young age. SAP training has assured various locally trained consultants with excellent placements in successful organizations as an increasing number of companies in Nepal advance towards ensuring economical output of a required quality. However, this is definitely not the end of it all.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">A peek at the global job market illustrates an increasing appeal for SAP trained professionals. The US, Australia and Germany are among countries that consistently seem to have high number of positions available for SAP trained individuals. Other countries such as the UK and The Netherlands which look for comparatively less number of SAP trained employees offer equally lucrative salaries to these sought-after consultants, architects and experts.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">You can either undertake a complete course for SAP or choose to learn only the modules that support your job needs. Among the different SAP modules, those trained in FI, CO, CRM and BI (Business Intelligence) currently seem to be in great demand in the global market. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> </div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">If you wish to go about chiseling your expertise to match market requirements, a SAP training ensures that knowledge in any business area you wish to participate in, is as good as hands on experience. It helps you carve a niche for yourself in the midst of aggressive competition. Backed by SAP, you can be assured that you have exactly what everybody is looking for whether you decide to work abroad or closer home.<br /> <br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2013-05-24', 'keywords' => '', 'description' => 'Efficiency has become a key factor in today's fast paced business scenario. The trend projection suggests that businesses shall get even more competitive in the days to come. And.........', 'sortorder' => '312', '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' => '395', 'article_category_id' => '39', 'title' => 'Etihad Airways: Fly With The Best - July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">E</span><span style="font-size: 9.5pt;">tihad Airways is the National Airline of the United Arab Emirates (UAE). It has established itself as the world's leading airline in less than eight years. The airline was set up by a Royal (Amiri) Decree in July 2003 with UAE's capital Abu Dhabi as its hub. It commenced commercial operations in November 2003 and has gone on to become the fastest growing airline in the history of commercial aviation. The airline's near-term focus is on breaking-even in 2011 and moving into sustainable profitability in the following year. Etihad began daily flights to Kathmandu, Nepal on 28 October 2007 and maintains its corporate office at Yak & Yeti Office Complex in Durbarmarg. We are happy with our success here in a short span of time and hope to increase our flight frequency sometime later this year, says John Rees Evans, Etihad's Country Manager for Nepal. He adds, Nepal is primarily a labour oriented market but there is tremendous potential in the business and leisure traveller segments as well.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It has partnered with Gokarna Forest Resort (golf) and Dwarika's Hotel (ancient cultural heritage) locally to entice travellers from the Middle East to spend quality time in Nepal. Etihad carries out its sales functions through affiliated travel agencies in Nepal and encourages them by acknowledging their contributions as well as providing them incentives. It also indulges in indirect marketing with popular brands such as Coca-Cola and Suzuki for brand enhancement. The popularity of Indian television channels certainly helps with its spill over advertising effect in Nepal Etihad's TV promotional has brand ambassador Katrina Kaif appearing in a dance sequence at the first class lounge. A number of airlines from the Middle East enjoy a strong presence in the Nepali market. Our competitors have been operating in the market for a longer period than us but we have our own niche market to cater to, Evans exudes confidence about holding his own with the competition.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Evans believes in treating people the way he wants to be treated himself. He has been in Nepal for nine months now and calls it a pleasant experience. The employees here in Kathmandu that works with me are surprisingly good and very enterprising people, He said. He lets people perform their best and believes in leading by example. He asserts that Etihad being a relatively new entity has its own advantages. We don't have the baggage like some other international airlines and enjoy reasonable freedom, he tells. Looking at growing the market, Evans is buoyant about the current legislation of own <span style="letter-spacing: 0.05pt;">handling at Tribhuvan International Airport (TIA). He is particularly positive about Nepal's only international airport beginning 24 hours operation anytime soon.<br /> <br /> <br /> </span></span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">Etihad Nepal is working towards implementing fast track operations through its counters at TIA. As part of its endeavour, it has already established a separate counter for business travellers while checking-in at TIA. It also boasts of a shared executive lounge for business travellers operated by Hotel Radisson. We have plans to have chefs on board flights to cater to personal taste of our travellers, Evans states. The airline also provides attractive packages for Kathmandu flights by announcing news tariffs which are aimed at improving passenger satisfaction levels and contributing towards Nepal's tourism sector.</span></div> <div style="margin-top: 0.15in; text-align: justify;"> Etihad Airways-Nepal factsheet</div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Flight Details: Kathmandu (KTM) Abu Dhabi (AUH)</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> 7 days a week</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> Mon, Wed, Sat 5:30 pm and </span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> Sun, Tue, Thu, Fri 9:15 pm</span></div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Aircraft Model: Airbus A330-200 / A320 </span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> (as per availability)</span></div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Employees: 11 employees at the Corporate Office</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> 12 Ground Staff at TIA</span></div> <div style="text-align: justify;"> <br /> </div> <div style="margin: 0in 0in 0.0001pt 11pt; text-indent: -11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Motivated employees </span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Strong product and service</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Can Do approach</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Good connectivity through the busy Abu Dhabi hub</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Comparatively a new entrant</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Building density into the network</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Optimising the fleet and its utilisation</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Reaching profitability</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Planning for growth</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Continuing to innovate</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Frequent strikes</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%; color: black;"> Security issues<br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-10-04', 'keywords' => '', 'description' => 'Etihad Airways is the National Airline of the United Arab Emirates (UAE). It has established itself as the world's leading airline in less than eight years. The airline was set up by a Royal.....', 'sortorder' => '311', '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' => '394', 'article_category_id' => '39', 'title' => 'Etihad Airways-International(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt; letter-spacing: 0.1pt;">E</span><span style="letter-spacing: 0.1pt;">tihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st century global airline challenging and changing the established conventions of airline hospitality. Apart from providing a relaxing experience, it strives to make travel safe and environment-friendly by practicing the highest global standards in both these areas. The airline is constantly innovating, taking the smallest detail into account in its pursuit of excellence and perfection. The overall ambition of Etihad Airways is to be the best airline in the world. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Etihad is governed by a Board of Directors under the chairmanship of HH Sheikh Hamed bin Zayed Al Nahyan while the airline’s management team is led by James Hogan who was appointed as Chief Executive Officer in October 2006 to lead the airline’s continued successful growth and development. The ongoing redevelopment work at Abu Dhabi International Airport has significantly enhanced the experience for guests. The second runway, officially opened in October 2008, is part of a large scale UAE Dirham (AED) 25 billion redevelopment programme and expansion project at the airport. Terminal 3 at Abu Dhabi Airport, an exclusive facility for Etihad, was opened in February 2009 increasing the airport’s passenger handling capacity from five to 12 million passengers a year. The first phase of a Midfield Terminal Complex is due for completion in the next few years and will take the airport’s handling capacity to 20 million passengers. The airport will be capable of handling 40 million passengers by 2030 when the project is completed.<br />  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Fleet and network</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad’s fleet, among the youngest in the world, has 57 aircraft operating 1,032 flights per week serving an international network of 68 destinations in 45 countries in the Middle East, North America (New York, Chicago and Toronto), Africa, Europe, Australia and Asia (including Kathmandu in Nepal). In addition, Etihad has 30 code-share agreements in place, building the airline’s international network. As part of its long term vision, Etihad plans to operate in up to 100 major business and leisure destinations around the world by 2020. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">The airline announced the largest aircraft order in commercial aviation history at Farnborough International Air show in 2008, for up to 205 aircraft – 100 firm orders, 55 options (guaranteeing the price of the aircraft and the delivery date) and 50 purchase rights (guaranteeing the price of the aircraft but not the delivery date).<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">People and Company Growth </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Currently, close to 8,000 people work at Etihad Airways with the majority based in Abu Dhabi and the UAE. In order to meet Etihad’s predicted fleet, passenger and destination growth by 2020 – which plans for more than 25 million passengers to fly to more than 100 destinations aboard a fleet of 150 planes – the airline will need a workforce of approximately 27,000 people. In 2010, Etihad saw passenger numbers top 7 million (7.1 million passengers carried) for the first time and revenue passenger kilometres (RPKs) rise 20.1 per cent. Etihad’s revenue exceeded US $2.9 billion in 2010. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">On the ground, Etihad has introduced a range of services designed to make the travel experience as comfortable, smooth and fast as possible. It offers a range of convenient ground services, including Etihad Chauffeur, its premium limousine service available at 27 destinations globally, and premium lounges (370,000 lounge guests hosted) in Abu Dhabi, London, Frankfurt, Dublin and Manchester.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Etihad Guest</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.35pt;">Etihad Guest is an award-winning loyalty programme boasting over one million members to date. Launched in August 2006, the programme offers its members opportunities to accumulate Etihad Guest Miles which can be redeemed against a wide selection of over 1,800 flight and non-flight rewards from over 200 partners. Non-flight rewards cover a wide variety of categories from computer and electronic equipment to jewellery and lifestyle products. Each year, over 40 promotions are organised by the CRM and Loyalty department and communicated to all Etihad Guest members.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Sponsorships</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad supports a range of sporting and cultural events in the UAE and the world over. These sponsorships are consistent with Etihad’s values of hospitality and team spirit and helps bring Abu Dhabi to the world and vice-versa. Its major sponsorships include Etihad Stadium, Ferrari Formula 1 (F1) Team, Sport Australia Hall of Fame, GAA Hurling All-Ireland Senior Championship, Harlequins Rugby Football Club, F1 Etihad Airways Abu Dhabi Grand Prix and Manchester City Football Club.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Marketing </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">The airline’s marketing department plays a major role in taking the Etihad Airways story to the world. Etihad was awarded ‘World’s Leading Airline’ at the World Travel Awards in 2010 for the second consecutive year. It set the benchmark for the airline’s brand communications enabling Etihad to inspire its audiences through a range of campaigns to ‘fly with the best’. The same year, it launched an international television advertising campaign titled ‘He Likes, She Likes’ showcasing the airline’s continued investment in products and services and commitment to offering a tailored, personal experience for every traveller.</span><span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>An Award Winning Airline</strong></div> <div style="text-align: justify;"> Etihad has received a range of awards that reflects its position as the leading premium airline brand in the world. In its first seven years of operation, its range of local and international awards includes:</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2011 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Long Haul Airline – Irish Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2010 </span></b></div> <div style="text-align: justify;"> <span style=""> Airline of the Year – Aviation Business Awards </span></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline – World Travel Awards (second consecutive year)</span></div> <div style="text-align: justify;"> <span style=""> World’s Best First Class – Skytrax (judged by over 18 million air travellers worldwide in the annual Skytrax survey)</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2009 </span></b></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline - World Travel Awards (WTA) </span></div> <div style="text-align: justify;"> <span style=""> Best Airline to the Middle East / Africa - Irish Travel Trade News awards, Dublin </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2008 </span></b></div> <div style="text-align: justify;"> <span style=""> European Sponsorship of the Year Award - European Sponsorship Association </span></div> <div style="text-align: justify;"> <span style=""> James Hogan, Aviation CEO of the year - CEO Middle East awards (ITP) </span></div> <div style="text-align: justify;"> <span style=""> Best website www.etihadairways.com - Pan Arab Web Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2007 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Economy class catering award - Skytrax </span></div> <div style="text-align: justify;"> <span style=""> The Middle East’s Leading Airline - World Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2006 </span></b></div> <div style="text-align: justify;"> <span style=""> Middle East Airline of the Year - Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2005 </span></b></div> <div style="text-align: justify;"> <span style="font-size: 5.5pt;"> </span><span style="">Outstanding Food Service by a Carrier – Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2004 </span></b></div> <div style="text-align: justify;"> <span style=""> The World’s Leading New Airline – World Travel Awards</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="font-size: 13.5pt; letter-spacing: 0.15pt;">‘Essential Abu Dhabi’</span></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Etihad Airways has designated 2011 as ‘the year of Abu Dhabi’ with the launch of its ‘Essential Abu Dhabi’ destination marketing campaign. The campaign will see Etihad unveil a number of exciting promotional activities across the globe designed to enhance Abu Dhabi’s place as a top tourist and MICE (Meetings, Incentives, Conferences and Exhibitions) destination. All the major tourism operators in the emirate of Abu Dhabi have come together under one showcase umbrella for the first time to promote the very best UAE capital has to offer. The campaign is being supported by the Abu Dhabi Tourism Authority as a major partner. The programme is also targeting millions of passengers transiting through the Abu Dhabi hub, to entice them for a stopover in the city.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Etihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st.....', 'sortorder' => '310', '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' => '393', 'article_category_id' => '39', 'title' => 'ICFC: Going Steady(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of ICFC, claimed the company maintains liquidity of 28 to 30 per cent at any given point of time. “Maintaining liquidity is our key concern at present. We think of profitability only after we have maintained enough liquidity,†he explains. The company has made a net profit of Rs 27.19 million by the end of third quarter of the current fiscal year.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">After being registered in 2003, ICFC commenced its operations from July 17, 2004. “We started with a paid-up capital of around Rs 25.5 million before going public,†Pant shared. In its seven years of operation, the company has Rs 330 million as paid-up capital out of core capital of Rs 400 million.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant asserts that success did not happen overnight. He says, “We are always focused on our future plans and tread a cautious path while lending.†He added that the finance company is headed by professionals with long exposure and experience in commercial banking. Ram Babu Pant heads the company as the CEO and has served as Deputy Governor of Nepal Rastra Bank (NRB) in the past. The board of directors too comprise of influential members under the chairmanship of Suresh Kumar Agrawal.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> “The economic sector was booming and there were a lot of business opportunities when we began our service,†says Pant. He claims ICFC’s Credit to Deposit ratio is around 70 to 75 per cent. He adds, “We never focused on investment in a single sector since the beginning.â€<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">At present, ICFC has deposits of around Rs 3 billion and loans and advances amounting to Rs 2.45 billion. Therefore, the difference between loans and deposit is around Rs 550 million while cash in reserve is about Rs 1.05 billion. It lends mostly in trading, industry and education sectors and less in hire purchase and margin lending. Pant said the company has refrained from investing in land plotting and real estate though it does grant personal and home loans.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has eight branches including the main branch at Bhatbhateni. Pant tells that ICFC opens a new branch only after the previous branch reaches break-even . It has been launching a new branch every year in a phase-wise manner. He opines, “We are a finance company so opening multiple branches at once will be challenging to manage. We do want to upgrade our status. However, we have opted to wait and watch given the current state of the economy.†He thinks the current liquidity crisis is snowballing into a sort of credit crunch. “We must maintain a strong position with respect to liquidity as we are responsible for safeguarding our depositors’ interests,†he asserted.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC has been giving either dividend or bonus shares to its stakeholders every year on an alternate basis. “A cash dividend of 15 per cent was given last year while bonus shares were issued the year before,†Pant states.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The finance company offers its own ATM services at every branch. It is also linked to the SCT network which has around 1,500 ATM counters throughout the country. Pant says that customer satisfaction is the topmost priority at ICFC. “We provide all banking products and facilities offered by a conventional bank,†he claims. The company provides all banking services including mobile banking, SMS banking and Internet banking apart from locker facilities at some of its branches.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant distinguishes ICFC from similar institutions through its quality of services provided. “Everyone is doing almost similar things in the market but we are more focused on service delivery along with our bouquet of total banking services,†Pant explains.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes that banking industry largely depends on trust which should not be shaken at any cost. Therefore, the company has made corporate governance its top priority. Pant attributes the failure of some banks and finance companies to weak corporate governance rather than liquidity problem. Pant reassures ICFC was safe in the past and will remain safe in the future too. Its reputation has helped build a customer base of around 50,000 people.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC is increasing its access to micro financing through First Micro Finance Development Bank, of which it is a promoter. Little service differentiation between commercial banks and finance companies has led to competition between them. Pant feels that while competition is good and adds excitement to work, ICFC does not indulge in aggressive competition. He thinks customers are spoilt with choices today and are free to subscribe to better services and facilities offered by just any company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">A total of 85 employees work at ICFC Finance Limited. Pant says, “We give equal priority to all ICFC family members and ensure a sense of belonging and job satisfaction. We give our people a lot of independence and authority to meet these objectives.†He adds that the company’s uncompromising attitude in providing facilities at par with the competitors has helped ensure employee retention to a large extent.<br /> <br /> </span></div> <div> <span style="font-size: 9.5pt; line-height: 115%;">ICFC plans to achieve and sustain unprecedented growth in the future. However, it is eagerly waiting for policies that will come in with the new fiscal year. “We can then decide our future course of action,†Pant concludes.</span></div> <div>  </div> <div style="margin: 11pt 0in 0.0001pt; vertical-align: middle;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Team of experienced professionals</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Strong capital base</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity maintenance</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Total banking services</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Focus on service delivery</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Less number of branches</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Small capital size</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Huge market potential</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Services and branches expansion</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Investment possibilities</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity crunch in the market</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Political and policy instability</span></div> <div> <span style="font-size: 9.5pt; line-height: 115%; color: black;">Lack of investment environment</span></div> <div>  </div> <div align="center"> Unaudited Financial Results as of mid April 2011</div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.1pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td style="width: 91.95pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Particulars</span></b></span></div> </td> <td style="width: 99.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Third quarter ending (by mid April)</span></b></span></div> </td> <td style="width: 119.2pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Corresponding previous year third quarter ending </span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Paid up capital</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Borrowings</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">710,000</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">335,000</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Deposits</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">3,059,446</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,3 71,753</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Investments</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">189,835</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">139,468</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Loans and Advances</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,451,804</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,168,906</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Net Profit</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">27,196</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">41,964</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Non Performing Loan in percentage </span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.92%</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.49%</span></span></div> </td> </tr> </tbody> </table> <div align="right" style="text-align: right; text-indent: 0in;"> <i><span style="font-size: 7.5pt;">Source</span></i><span style="font-size: 7.5pt;">: ICFC Finance Limited</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of.....', 'sortorder' => '309', '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' => '392', 'article_category_id' => '39', 'title' => 'Story Of NIDC's Turnaround (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><b><span style="line-height: 120%;">Shanta Bahadur Shrestha</span></b></span></div> <div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 120%;">Chairman</span></span></div> <div style="text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 115%;">NIDC Board of Directors</span></span></div> <div style="text-align: justify;"> We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.</div> <p>  </p> <div> <table cellpadding="0" cellspacing="0" hspace="0" style="width: 1px; height: 15px;" vspace="0"> <tbody> <tr> <td style="padding: 0in; text-align: justify;" valign="top">  </td> </tr> </tbody> </table> </div> <p style="text-align: justify;"> <span style="font-size: 9.5pt;">Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs 1.41 billion in 2005-06, but it is now expecting a net profit of Rs 300 million in 2010-11. </span></p> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">“We are going to make profit this fiscal year and hopefully declare dividend also,†said Shanta Bahadur Shrestha, Chairman of NIDC Board of Directors and joint secretary at the Ministry of Finance, at the 53rd anniversary function of the corporation on June 15, 2011. Highlighting the recent achievements, company’s General Manager and Director Shivjee Roy Yadav noted that the company’s net worth per share that was a negative Rs 193.47 at the end of 2005-06 has now turned positive to Rs 192.87, by mid-April 2011.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Behind the newly-found optimism is a long story of struggle and perseverance. Set up in 1959, this first development finance companybloomed till the early 1990s before sliding into a financial mess. Eventually, the government on February 24, 2004, decided to stop this public enterprise from extending any new loan and to focus on just recovering its investments. The plan was to ultimately liquidate the company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Though the government decision was made on the basis of a recommendation from PriceWaterhouseCoopers, the company’s management was finally able to convince the government that it can be revived and the government stands to lose if the company is liquidated. Then, a new decision was made by the government on March 2, 2009, that allowed the company to work as a deposit taking institution. Thus, the company started functioning as a bank and this change made the company rise from its deathbed and re-establish itself as a vibrant financial institution. NIDC commenced its banking service from February 8, 2010, and now it is a major provider of funds in the inter-bank market, Yadav claims. Meanwhile, the company focused on recovery and sold some of its investments in stocks. As a result, it fully repaid all the loans it had to pay to the Nepal Rastra Bank and the government. “This is indeed an achievement,†says Yadav, Had the government gone ahead with the liquidation as per the PriceWaterhoseCoopers recommendation, the Nepal Rastra Bank and the government would not have got their money back. Rather, they were required to inject additional capital to clear various other liabilities of the corporation.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Today, NIDC has an authorised capital of Rs 1.20 billion of which Rs 600 million is issued and Rs 415 million is paid-up. Its non-performing loan has reduced to 75.6 percent by mid-April 2011 from 99.79 percent a year ago. This has further reduced to 70 percent by mid-June and the target is to reduce it further to 35 percent next year, says Yadav. This year’s revised estimate of the profit is lower than the initial estimate. The initial target was Rs 570 million but that could not be achieved as the plan to realise the loan of Himal Cement by selling the mortgaged assets could not go ahead. Similarly, the plan to sell the corporation’s shares in Nabil Bank and NIDC Capital Market could not implemented, explains Yadav. He expects to make these sales once the country’s property and share markets revive.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Established on June 15, 1959, the company’s mission is to contribute to industrialisation of the country through industrial project financing. Initially, established as a corporation under a special law the Nepal Industrial Development Corporation Act 1959, it was later registered under the Company Act and in 2006 it was made a national level development bank under the Banks and Financial Institution Act 2006.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">From its beginning to mid-April 2004, NIDC invested more than Rs 6 billion in 1,520 industrial projects in different parts of the country. The company estimates that in those projects about 80,000 people received direct employment while 350,000 others got indirect employment.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">NIDC today offers its banking services from its head office in Kathmandu and two regional offices in Biratnagar and Pokhara. The plan is to start banking services also from the Nepalgunj and Dhangadhi offices with approval from the central bank. Meanwhile, the company has started ATM services by setting up an ATM station at the central office and the plan is to set up ATMs in other branches as well in other places of Kathmandu. 9 AGMs in One Go<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">One major recent development of the company is the AGM held on May 7, 2011. It is a major development because there has been no AGM for last nine years from 2001-02 through 2009-10. From the next year, the AGM will be regular, hopes Yadav. One major decision taken at the AGM is to change the company’s name into NIDC Bank Ltd, subject to approval from the relevant authority. <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Currently 99.26 per cent of the corporation’s ownership remains with the government while 0.74 per cent stakes are with the public. Therefore, the company’s shares are not traded in the stock exchange though it is listed there. Presenting the annual report to the shareholders in the May 7 AGM, the company’s chairman Shrestha informed about the plan to issue shares through further public offerings so as to increase its paid-up capital.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Shrestha says, “We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.†</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">According to Shrestha, the company is also planning to offer services like 365 days banking, evening counter, Internet Banking, SMS Banking, Remittance Service, Mobile Banking among other new products. </span><span style="font-size: 6.5pt; line-height: 115%; color: rgb(237, 28, 36); letter-spacing: -0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="margin-top: 8.75pt; text-align: justify;"> <span style="font-size: 9pt;">Financial Statistics of NIDC as of third quarter of 2010/11</span></div> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6.5pt;">Rs in million</span></i></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 3.25pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td rowspan="2" style="width: 86.15pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Particulars</span></b></span></div> </td> <td colspan="6" style="width: 224.45pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="299"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Fiscal years</span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2005/06</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2006/07</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2007/08</span></b></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2008/09</span></b></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2009/10</span></b></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2010/11 by mid April</span></b></span></div> </td> </tr> <tr style="height: 12pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Paid-up Capital</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Net Profit</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(602.8)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.5</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">797</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">172.2</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">354.5</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.4</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Accumulated Profit (Loss)</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1416.2)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1347.3)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(595.5)</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(459.3)</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(179.4)</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(109.5)</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Reserves</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">195.9</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">213.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">372.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">407.3</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">478.2</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">495.6</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Networth/Share Rs</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(293.46)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(172.67)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">46.44</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.48</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">171.86</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">192.87</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Loan Investment</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1712.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1466.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1329.7</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1258.5</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1118.6</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1273.6</span></span></div> </td> </tr> </tbody> </table> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6pt;">Source</span></i><span style="font-size: 6pt;">: NIDC Press Release on the 53rd anniversary day. </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs..........', 'sortorder' => '308', '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' => '391', 'article_category_id' => '38', 'title' => 'Essentials Of Employees’ Learning Habits (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <i>By Kriti Bhuju </i></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">L</span><span style="font-size: 9.5pt;">earning is a prerequisite to growth. Both employers and employees need to enhance their knowledge, skill and ability for continuous organizational as well as professional development and growth in the present context. Learning is essential to keep in tune with trends and developments in our field.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is essentially important to make learning a habit as most employees do not focus a great deal on reading and learning. Employees must have a self realization that enhancing their capacity helps upgrading their own knowledge. They must also have the habit of aligning themselves with others to find out their weaknesses. Some organizations have the practice of skill assessment which motivates the employees to learn new things and upgrade their skills.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is crucial to develop learning culture so that learning becomes a trend in organizations for everybody to follow. It is not advisable to push people to learn; employers must provide learning environment and freedom to create culture. Employees must have the feeling that those who are always ready to learn are more successful in their careers. They are more productive and attentive towards quality than the employees who are not eager to learn. Learning habits come naturally for some. However, some others do not wish to learn until their bosses ask them to. People are bound to follow once a system of learning is initiated. This ultimately yields a positive outcome. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Learning is not a habit at the root level and that is where the problem lies. Organizations need to focus on having a library, learning zone and providing different trainings to create learning habit among their employees. The employees must also develop a tendency to learn from their subordinates. If a person is really interested in learning, s/he should shun superiority complex and be prepared to learn from juniors. However, this is a vital aspect of learning which we do not see in practice.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It helps the employer to create an atmosphere of learning within the organization if a person’s willingness to learn can be identified during the selection process itself. We can learn from any part of the world through e-learning and virtual learning as technology has made learning easier nowadays. Many INGOs have a rule for employees to do a course through e-learning which forces them to learn. They should share their learning and achievement with their co workers after taking certain trainings or completing a course.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">An individual should understand the importance of learning and realize that it is for their own growth in terms of enhancing knowledge, skills and abilities. Learning habit should come from their heart and mind because it cannot be injected in an individual. Learning culture can be inculcated only if an individual is interested in it. Developing a learning culture ultimately helps employee retention and contributes towards employer branding overall.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="text-align: justify;"> <i><span style="font-size: 9.5pt; line-height: 115%;">(The write-up is based on an ‘HR Kurakani’ discussion on “Essentials of Employees’ Learning Habit†on 25 May 2011 conducted by Real solution Pvt Ltd. The participants at the discussion included representatives from commercial banks, INGOs, IT companies, industries, private organizations and freelancers. Shailendra Raj Giri, MD of Real Solutions acted as the moderator of the discussion while Nibha Shakya, HR Executive of the company was the coordinator of the event.)</span></i></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Learning is a prerequisite to growth. Both employers and employees need to enhance their knowledge, skill and ability for continuous organizational as well as professional..........', 'sortorder' => '307', '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' => '390', 'article_category_id' => '38', 'title' => 'OHS & People Engagement (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <i><span style="font-size: 8pt; line-height: 120%;">By Dr Rabindra Karna</span></i></div> <div style="text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 11.5pt; letter-spacing: -0.1pt;">E</span><span style="letter-spacing: -0.1pt;">mployee engagement in OHS (Occupational Health & Safety) is not only critical to its effective management but also an integral part of productivity and quality management at the work place. Achieving this necessitates commitment of all parties concerned – the management, employees and the Union – to meet the objectives and long term approach of an organisation. The existence of issues related to health and safety at a work place has a huge impact over business performances. It adversely affects employees’ performances and encourages absenteeism due to illnesses, injuries etc. Health & Safety, an important element in our daily life, affects everyone including employees, managers, owners, family, society, contractors and visitors. Effective OHS management helps improve the well-being of employees, workplace environment and business operation. All these factors together ensure overall business. The employees’ engagement towards OHS seeks to change workplace culture and beliefs for improved and safe work practices through positive engagement of people, communication and training. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Effective communication is vital for business management wherein periodical group discussions cultivate consultation among the workforce. Health, safety and environmental issues are discussed in these forums in addition to measures for current business improvement and the way forward. These consultations intend to instill the entire organization’s trust and direct everyone to follow the targeted business destination. The employees are encouraged to participate in various decision making practices such as process enhancement, management plans, skills development and risk analysis. This actively encourages open communication amongst the workforce resulting in operation and work culture improvement.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">While trust plays a vital role in achieving desired level of people engagement, it is one of the most difficult tasks for business leaders. Business leadership requires demonstrating consistency in words and action by resorting to fair communication. It supports creation of a culture securing complete engagement of human resources and driving business results. At present, businesses are recognizing safety, health and environmental responsibilities as integral parts of daily routine. They are focused towards preventing occupational injury and illness as well as minimizing adverse impact on the environment. Business operations are extensively engaging in identifying priorities to ensure that these initiatives match people resources and community expectations. They are also working on an awareness drive to see regular communication and basic as well as specialized training on OHS. Employers have the responsibility of providing a safe place and work system. At the same time, employees are responsible for strictly adhering directions floated for safe work practices. Effective safety management requires compulsory integration of health and safety into planning, purchasing, production, distribution, sales and financial aspects of a business. There must be moves with clear understanding and considerations giving equal importance to productivity & quality management. It is because business improvements, risk reduction and efficient cost economy flow from a successful implementation of OHS management system.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Further, industrial relations and OHS are interlinked and these must be recognized throughout management efforts in building productive and safe work environment. The most essential requirement is to train and provide logistical support to the health and safety committee inviting its engagement for generating awareness and workforce’s interest in OHS. It is also inevitable to recognize that the Union plays a vital role in facilitating effective people engagement for participatory mechanism afforded by them keeping industrial relations in mind. This makes the employees, the Union and HR associates key stakeholders leading to dedicated participation towards the OHS program. The Unions and HR practitioners’/associates’ involvement facilitates effective dissemination of OHS process. It also encourages a better understanding of risk exposures and need for the mandatory usage of protective devices, workplace equipment, changed work practices etc on the employees’ part.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">The frequency and severity rate is the traditional form of statistical measurement of incident, accident, injury and illness. These measurements are indicators for cost efficiency, associated cost on workplace safety, loss of working hours etc. More than anything else, people resources utilization largely depends on effective improvement of working conditions to the extent of changing circumstances in the workplace. Constant and regular surveys are popular initiatives aimed at improving public commitment towards health and safety. Top management leadership in association with HR associates is critical in terms of integrating OHS management system into core business and its philosophy. The leadership displays genuine concern for employees’ welfare, provides greater opportunity to succeed and achieve OHS performance at the desired level. This also results in capturing an organization’s greater commitment towards health and safety policies thereby cultivating high degree of awareness and reducing accident and injury risks. At present, the business teams are highly energetic and equipped well with strong communication skills. Most essential and desired expectations can only be achieved with proactive approach, effective engagement and structured coaching. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">One of the key elements of the OHS drive is standard policy and implementation strategy. OHS policy cannot have productive implementation unless it overcomes traditional approaches which deal with troubles as and when they occur. On the other hand, proactive approach is the current practice and need which is based on elimination of causes rather than dealing with effects. Documented OHS system, process and policy demonstrate and quantify the need as well as explain the necessity while obtaining commitment from all parties in writing. An OHS system enables coordinated approach to health and safety instead of dealing with conflicting information leading to confusion. Any uncertainty pertaining to work practices amongst people resources exposes organizations to unacceptable risks. Though many organizations perceive health & safety management implementation as too difficult, there are key advantages of systematic implementation and health & Safety management. Investment towards OHS management system minimizes workplace illness and injury and contributes towards reducing direct and indirect cost to the company. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Above all, the feedback from the workforce is important evidence to measure OHS effectiveness and employee engagement. It plays a vital role in improvising OHS strategies and works as an eye-opener towards improvement needs in the current system. It quantifies actual measures of OHS performance which is open for manipulation through leave arrangements, changing shift of the affected employee etc. Both formal and informal feedback must be applied for qualitative checks on OHS program practices within the work schedule. While OHS encourages people’s contribution towards internal processes and learning, workers and the Unions are more likely to commit themselves and participate in best practices. As a matter of fact, this is essential for employee engagement in dealing with OHS in the form of a joint OHS committee and other participatory mechanisms such as labor relation committee.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">It is also advisable to involve people through workplace inspection, periodical interaction with operational team and work groups and measurement and evaluation exercises. This is where an organization instills the opportunity to drive the changing process of OHS management system. It ensures prevention from future injuries, accidents and illnesses. This can be taken as the best opportunity in view of the well known and accepted fact ‘Prevention is always better than cure’. </span></div> <div style="text-align: justify;"> <i><span style="letter-spacing: -0.1pt;"> (Dr Karna is the Executive Chairman of MARK Business Solutions Pvt Ltd and Ad Abhyas Marketing & Communications Pvt Ltd. The article is based on various research reports and his practical experiences as management practitioner.)</span></i></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Employee engagement in OHS (Occupational Health & Safety) is not only critical to its effective management but also an integral part of productivity and quality management at the......', 'sortorder' => '306', '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' => '389', 'article_category_id' => '38', 'title' => 'Deep Leadership(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <i><span style="font-size: 8pt; line-height: 120%;">By Sujit Mundul</span></i></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 12.5pt;">W</span><span style="font-size: 9.5pt;">hen considering management in the decade of 1990s, three important observations could be made: The massive efforts made to change the way organizations operate, the astonishing degree of failure that accompanies all but a handful of such attempts, and the radical aversion to risk-taking. One might think that the high degree of failure has provided us with a mountain of data to understand the causes. This is a correct assumption. In the same breath, one might also contemplate that the data load enables us to predict a successful route to change; but this is probably wrong. We know why change goes wrong, but we find it enormously difficult to make changes work.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The problem of change is especially significant now. Because as we see management and organizations in the western world appear to be in a state of constant turmoil as change follows change in an ever more frantic attempt to reverse what it took two centuries to construct. The traditional methods of organizing business including public services, no longer seem viable.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is possible that organizations are really autistic; in other words, organizations rather than their leaders are unable or unwilling to listen to what others are saying to them. Perhaps, their strategic intentions are rolled out irrespective of the advice that is being offered to them. In this context, one could possibly agree that IBM went through a phase of being an autistic organization, as its market share crumbed and its leadership continued to exercise the less than successful strategy despite internal and external criticism and advice that the company was going wrong.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Keith Grant in his famous article “Managing Change through Commitment†mentioned:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">“Now that we have uncovered some possible benefits and disadvantages with commitment as a panacea for change … I want to consider the extent to which leadership can displace the problematic fuzziness of subordinates with a transparent way forwardâ€. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Let us now focus on the significance of leadership rather than change. These two very often appear to be linked: leadership in itself implies change. So, let us look at the significance that different contemporary theories attribute to leadership. In traditional models, leaders are the critical sine qua non, but some current approaches attribute very little to leadership, or reconstruct the meaning of the term to change the entire debate. Leadership is amongst the most perspective areas of management knowledge.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Despite an enormous outpouring of material during the second half of the twentieth century, we appear to be little closer to understanding leadership than either Plato or Sun Tzu, who began the written debate several thousand years ago. Since post-war period it appears that we have gone full circle: From assurances that personality traits were the key, though equally valid counter argument that the situation was critical, to a controversy over whether the leader was person or task-oriented, and back to finding out the charismatics whose visions and transformational style would explain all (Bryman 1992). During this latter period there has been a prescriptive urge to push leadership in an empowering direction so that Super Leadership (Manz and Sims, 1991) can ensure that Leaders work to free up the skills and potentials of their subordinate rather than throttle initiative in bureaucratic and functional hierarchies. Now, let us touch upon a different aspect of leadership: Personality. More importantly, stable personality. When we see the boss sacking an employee for some minor mistake we know just how hard–hearted she is; when she brings her baby to work she seems quite different, almost pleasant. Keith Grant has cited another example when someone reveals her school report it is quite difficult to imagine the “shrinking violet of 2b†against the assertive CEO now standing before us. Yet, according to another colleague, she isn’t assertive at all, but downright aggressive. Could she be all these things to different people? Could it be that there is no solid centre here, no core characteristics that remain unchanged across time and space? Or perhaps, it is the people who interact with her, who construct the character? If this is so, is there no essential “essence†to people, but merely a character that is constructed through various relationships? Which characterization prevails over time tends to depend upon who has the power to reproduce it; thus accounts of popular figures may change with each biography! Indeed, a difficult proposition. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The concept of Deep Leadership suggests that leadership processes and practices, not roles are critical; that leadership is deeply and systematically present throughout all levels of the organization and not just at the formal top of the hierarchy; and that the fixation with formal leaders or Shallow Leadership and not informal or Deep Leadership is also rooted in an epistemological approach that perceives leadership to be only the effect of leaders and never the consequence of followers. It may be that leadership is an ineffective phenomenon in terms of the survival of organizations as population ecology models suggest or that leadership is merely the requirement of normative pressures as institutional theory suggests or that it is merely a myth whose purpose is to ensure the survival of the leaders themselves (Gemmill and Oakly, 1992).</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The approach towards Deep Leadership also seeks to examine the extent to which individuals who are regarded as being leader whether formal or informal are able to affect and effect their own version of events. It might be, for instance, that the crucial difference between leadership and non-leadership does not lie in the particular act or process, but in the ability of some individual to prevail over others. Another question comes up: Is leadership rather like history just the acts of victors? It may even be that acts of Deep Leadership are indeed identical at all levels but only formally recognized where they oincide with formal authority. Or alternatively, it may be that leadership styles and processes do differ between the levels of hierarchy so that there are qualitative differences between the leadership in the shop-floor and the leadership in the boardroom. </span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;"> <i>(Mundul is a Director with Standard Chartered Bank Nepal Ltd)</i></span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'When considering management in the decade of 1990s, three important observations could be made: The massive efforts made to change the way organizations operate, the astonishing......', 'sortorder' => '305', '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
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 133]file not found!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' => '404', 'article_category_id' => '31', 'title' => ''Nepal Is Mature Market For Notebooks' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> Albert Tung is the Regional Director for India and SAARC Region of Asus, a Taiwan-based computer manufacturing company. He was in Nepal recently to attend a dealers’ meet of his company. Asus is gaining momentum in computer products and IT sector worldwide and is claimed to be number three for notebooks in consumer segment and number one in motherboards, worldwide. In an interview with New Business Age, Tung talked about the company’s strengths and strategies for Nepal. Excerpts:</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>What was the purpose of this dealers’ meet in Kathmandu?</strong></div> <div style="text-indent: 0in; text-align: justify;"> We have come from Taiwan for the Asus dealers’ meet in Kathmandu which has participation from all our major dealers here as well as some from Bangladesh. Through this event, we wanted to appreciate our dealers for their efforts. During the meet, we updated dealers with product knowledge and apprised them of our products’ performance worldwide. With the conclusion of this meet, we are encouraged to work harder in this market.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <b>What are the potentials of Asus products for the Nepali market?</b></div> <div style="text-indent: 0in; text-align: justify;"> We see good potential for our growth in the Nepali market. We need to work with our partners more closely to have better business. Asus has always emphasised on superior product and quality design. Though we are fairly new in Nepal, we are working hard to introduce our products among the targeted consumers here. The competition is tough as established rivals like Apple are already ruling the market. I have learnt that it’s a mature market for notebooks. So, even though we are primarily known for motherboards, the challenge is to introduce our notebooks to the end users.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>What distinguishes Asus from its competitors?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Asus is basically a motherboard manufacturing company. All computers require CPU and motherboard and worldwide, Asus is number one in motherboard technology. This is where our core competence lies. For example, while purchasing a good notebook, you should not only consider the brand but the technology inside as well which is vital.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How strong is Asus’ international market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Asus leads the market worldwide when it comes to motherboard which is a very important component inside a PC. Encouraged by our top position with motherboard technology, we have also achieved number three position in consumer segment for notebooks worldwide. We want to continue the good work and lead the market for as long as possible.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Do you have any specific strategies in mind to penetrate the Nepali market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">We have been in this industry for 10 years in notebook and 20 years in motherboard technology. For the Nepali market, our strategy is to cooperate with the local partners here and tell them about our superior product quality, service and technology. Besides commercial advertising and branding, we are focused on taking care of our product quality once the consumer starts using it. Our simple strategy is to penetrate the market with honesty. We want the market to know that they should select an Asus product for its quality technology.</span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Computer technology is changing rapidly. How challenging is it to maintain a competitive edge in the market?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Computer technology is changing with new technologies related to CPU, memory and other specifications coming up quite frequently. At Asus, we have the confidence because of our technology and the expertise in designing a motherboard. We know we have an edge in the market because of the support from our proven motherboard technology.</div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Albert Tung is the Regional Director for India and SAARC Region of Asus, a Taiwan-based computer manufacturing company. He was in Nepal recently to attend a dealers’ meet of his company. Asus is......', 'sortorder' => '319', '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' => '403', 'article_category_id' => '31', 'title' => ''We Want To Be Ready When The Economy Takes Off' (2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> Ali Jaleel is Dell’s General Manager for South Asia Developing Markets Group. He heads the Growing Economies business and looks after the markets in 20 countries including Pakistan, Bangladesh, Sri Lanka, Brunei, Nepal and Mongolia. He was in Nepal recently to launch Dell Inspiron R series laptops. In an interview with New Business Age, Jaleel shared his views on Dell’s position and prospects in the Nepali market. Excerpts:</div> <div style="text-align: justify;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">You have just launched your new Inspiron R series laptops in Nepal. How will this launch boost your outreach plan to penetrate Nepal’s consumer computer market?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are very excited to launch this particular product which we also call the queen series. It is unique because you can actually change the lids and use various designs as per your liking. We are hoping that we will see very positive response for this product. The infrastructure is also quite developed with Gen Next (Generation Next Communications) as our partner and reseller here in Nepal. We now have outlets at locations that were not there before.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">What made the Gen Next, your partner here, win the award of Dell’s most valuable partner for Nepal?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">They have been very impressive and done all the right things. They focused not just on sales but also on after sales, on above the line (ATL) activities, growing the market outside Kathmandu etc. Therefore, we feel they have the right ingredients. Along the way, we are going to learn new things from them and I am sure they too are going to learn from Dell. We both feel that it is going to be a long-term relationship. Nepal is a strategic market for us and we want to be ready when the economy takes off.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">As for the awards, our partners from South Asia and Korea join us in various locations once a year. It is usually in Malaysia or Singapore because our regional headquarter is in Singapore and factories are in Malaysia. We have started a tradition of selecting partners on the basis of extraordinary performances. This is where Gen Next was selected for their stand out performance and awarded with Dell’s most valuable partner for Nepal.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">How is your experience in the Nepali market so far?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We have been here for many years actually but mostly in an enterprise-way and not in a direct one. We have started making investments here only about six months ago. Gen Next is relatively new for us here but our business has really taken off in the last year or so. Nepal is a good market for us where our business has been growing steadily. There are a couple of very positive signals – one is that the economy is very resilient and the other is, when exponential growth happens, it is good news for all organisations that have invested.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">Who are your major competitors in the local market and where do you stand vis-a-vis the competition?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We would consider HP to be our closest competitor. We are competing with Acer and Lenovo in consumer base and IBM in the enterprise base. It is actually good to have competition because it keeps everyone on their toes and focuses on consumers’ interests first.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">What gives you the confidence that the New Inspiron R Series will hold its own in the market that’s already flooded with similar products? How do you plan to position yourself in the market for this particular product and establish brand identity?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are very confident about the product and the quality. The innovation we have put in is something very unique. We are quite confident that it will find its own niche, build a loyal customer base and do us good. When you talk about a product, it is important to have different ranges because people have different requirements. Some may like a 12-inch screen while some other prefer a 15-inch screen. Therefore, we have positioned this particular product by giving options of varied screen sizes. They also have the option of making their notebook look different according to their mood. The reception has been very positive during its launch in some other countries a few weeks prior to that of Nepal. It is now available in Pakistan, Bangladesh, Malaysia, India and China besides Nepal.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">We are already showing our intent to grow here and you must have started seeing it already. This is just the beginning for this particular product. Technology moves very fast so we have to keep focusing on the Dell brand. And under Dell, we have to keep focusing on Inspiron as well as other products. We will continue to appear above the line to establish brand identity.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="font-size: 9.5pt;">How do you assess the Nepali market overall? What are your expectations from the market in the foreseeable future?</span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 8.5pt;">Overall, I was very impressed with the sophistication of some people I spoke to. They are very well informed. In enterprise base, customers from various industries know exactly where they want to be and the technologies they want to embrace. This is very good because it means half the work is done since we don’t have to educate the customers who are already very informed. Similarly, people seem to be quite well informed about technology in consumer base as well. The young generation here is very internet savvy and has all the information. As a matter of fact, they ask questions about technologies which are not yet available in Asia which is really interesting. These technologies are either introduced or are being planned to introduce in countries like the US. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="text-align: justify;"> <span style="font-size: 8.5pt; line-height: 115%;">We do feel that we will continue to have organic growth which is fine with us because we are making the investments now. We are hoping that once the elections happen and a new government comes in, there will be more projects. A good number of projects especially on the government side are something we are eager about. That will definitely help us grow exponentially because right now, our growth is pretty organic.</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Ali Jaleel is Dell’s General Manager for South Asia Developing Markets Group. He heads the Growing Economies business and looks after the markets in 20 countries including Pakistan, Bangladesh, Sri Lanka........', 'sortorder' => '318', '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' => '402', 'article_category_id' => '31', 'title' => ''We Must Use Land In A Very Discretionary Manner' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 11pt;">World-renowned architect Hafeez Contractor was in the city to launch his first project in Nepal called Westar Skyliving -- a twin-tower apartment block close to Hotel Soaltee Crowne Plaza in the heart of the city. Targetted at the high-end clientele, this 14-storey luxury high-rise apartment project on 7.10 ropanis will have 77 percent of the project area reserved for open space and water bodies. Contractor is a member of Bombay Heritage Committee and New Delhi Lutyens Bungalow Zone Review Committee. After completing his graduate diploma in architecture from Academy of Architecture in Mumbai, he finished his graduation and MS in Architecture from Columbia University, New York. Among other projects, Contractor has also designed The Imperial I and II, the tallest buildings in India. His projects are spread across India, South Africa, UAE and the US among other countries. In an interview with Pinaki Roy of <i>New Business Age</i>, Contractor talked about Nepal’s transforming skyline and the housing industry. Excerpts:</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">What is your assessment of the housing industry in Nepal?</span></strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">We are facing shortage of houses in Nepal and India. Not only that, housing shortage will be greater in the days to come with rising population and more people moving into the cities. Therefore, we have to find a way out to deal with the problem of housing shortage. We should discourage the individual housing system in every South Asian country including Nepal. The land is ever decreasing with construction of stand-alone houses and the truth is that we can’t produce additional land.</span> There is an immediate need to redevelop old buildings here. By doing so, taxation levels can be increased and the cities can get rich. The cities can then plough money into infrastructure which is most important.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: 0pt;">Tell us in brief about your association with Westar Skyliving. </span>I am interested in Nepal because apartment culture has been developing here of late. The people buying these apartments should be offered hassle-free living conditions and I hope my expertise of over 30 years will help fulfil this objective. This particular project ‘Westar Skyliving’ was proposed to me by its promoter Golyan Group and it interested me due to its international standards. With my involvement in this project, I want to demonstrate innovative ways of designing and executing an apartment project.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">Given the fact that Nepal falls in the Seismic Zone 5, how do you view the increasing construction of high-rises here?</span></strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.15pt;">The fact remains that high-rises are a very important today because we have a restricted amount of land. And, we have to make use of the land in a very discretionary manner. Up till now, we have been wasting land by keeping open spaces where we can do nothing. We need proper, large green spaces and we have to think about our subsoil water which is going down because of the indiscriminate growth of our cities. The water gets washed off and does not percolate down. High-rises are very important indeed and it is equally important for the people involved to build high-rises in the right manner. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> Earthquakes are going to come some day or the other so we should be better prepared for that. Design and construction of skyscrapers should be as per the code otherwise we are in big trouble. I feel the government should take a very firm stand against people who are not adhering to this. In the event of an earthquake, buildings may collapse because the builders may not have designed the buildings as per earthquake loads. Suddenly, the media and everyone else will start saying that high-rises are bad.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">Will you be involved in more Nepali projects in the foreseeable future such as public structures and slum redevelopment?</span></strong></div> <p style="text-align: justify;"> Yes, definitely. Besides working with the private sector, I will be looking for opportunities to work with the government as well. The government must look at providing sustainable housing options to the citizens of this country. It’s sad but true that despite having tremendous potential, the apartment business has not registered the desired growth in Nepal. We must look to introduce easy apartment systems that will accommodate large number of people under single roof. I will be working in this direction in Nepal.</p> <p style="text-align: justify;"> <strong><span style="letter-spacing: 0pt;">What’s your recommendation for the Nepali architects? </span></strong></p> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">I have come to Kathmandu after 2-3 years and I saw a lot of glass buildings. I would be very happy if a touch of local architecture and materials are given to the buildings being constructed. It happens that while living in one region, we like what is there in the other region. This phase will go away with time and you should let it happen. You should maintain old buildings because heritage is extremely important.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'World-renowned architect Hafeez Contractor was in the city to launch his first project in Nepal called Westar Skyliving -- a twin-tower apartment block close to Hotel Soaltee Crowne Plaza in the heart..........', 'sortorder' => '317', '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' => '401', 'article_category_id' => '31', 'title' => ''Nano Will Make Motoring Affordable In Nepal' (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt;"><strong>Johnny Oommen</strong> is the Head of International Business, Passenger Car Unit for Tata Motors Limited. Oommen has a proven track record in bottom-line results, strategic marketing, problem solving and people management. He has also worked for top brands like BMW, MINI, Rolls-Royce, General Motors India and even Sony Entertainment Television. Oommen was in Kathmandu last month to launch the much-awaited Nano car in Nepal. In an interview with <i>New Business Age, </i>he shared his views on Nano’s market prospects and its suitability for the Nepali roads. Excerpts:</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Nano is now in Nepal. How do you feel about it?</strong></div> <div style="text-indent: 0in; text-align: justify;"> It is a momentous occasion for us. When we launched the Nano in India nearly two years ago, we were clear that a product like Nano will find its way to markets that are closer to India. Nepal, as you can see, today is one of the earliest markets outside India that we have decided to hit with Nano. We are very optimistic and confident that Nano will find acceptance across Nepal.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How is the car doing in India?</strong></div> <div style="text-indent: 0in; text-align: justify;"> We have principally launched in India and Nepal is one of the earliest markets outside India. In India, the car has stabilised and is doing quite well. We initially had supply problem then we went into producing as much as the pipeline demand we had. Today, we have really expanded production and distribution capacity and we have 617 dealerships and sales point in India. We are going to introduce 300 exclusive Nano outlets in the coming month. So, the Nano is definitely looking good in terms of results in India.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>In Nepal, Nano is going to cost much higher than in India because of high tax rates. How do you see that?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Well, even in India, the pricing has moved up because of increase in import cost, material cost and distribution cost. So, today Nano is more expensive than it was two years ago. In Nepal, the duty and tax structure is such that there is 240 per cent increase over the price that we have in India. Despite that we are able to bring the Nano into Nepal in extremely attractive price. We believe that despite all that multiplier, we are offering a product that will make motoring affordable to a lot of Nepali population. Just to give you an example, starting price of the Nano Standard is Rs 798,000. Thanks to the tie-ups, we have got into with as many as 10 banks, we will be able to, for instance on the Standard, take a down payment of Rs 10,000 and work out a monthly instalment of Rs 11,111. So, that is a very attractive proposition. I think we are only adding to the expectation around Nano being a very affordable, acceptable motor.</div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Do you have any volume-wise target sales for Nepal?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Sky is the limit. We are looking at various segments. We believe as a car, it has potential for people who are currently without a car. Let’s say they are using two-wheelers. We are looking at the people who have just started working, first-time job holders, young couples, small families, and of course people who already have one or two cars and are looking at additional small vehicle in the family. We believe, if we look at each of these segments, there is a lot of potential and we have increased production capacity in India so we are in a position to fulfil the demand in the Nepali market.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How do you see the Nepali market demand for cars, especially for Nano?</strong></div> <div style="text-indent: 0in; text-align: justify;"> Even though the industry for a couple of years may not have grown as per the expectations of most of the automobile manufacturers and even the Nepali economy, we believe that the Nano is a product so attractive, packed with features like space, compactness, safety, manoeuvrability and fuel efficiency, all these are extremely attractive points. We believe with all these, it should be able to attract far more people in Nepal. We believe in creating a new segment. While people may be considering other cars, it will draw new people into the world of motoring. In that sense, it is really a limitless kind of thing. It is difficult to predict but our expectations are high.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>How did you find the reaction of people here after the soft launching and beginning of Nano Yatra?</strong></div> <div style="text-indent: 0in; text-align: justify;"> So far, it has been overwhelming. We have received more than 5,000 enquiries, which is not a small number. It is very encouraging. We are only looking forward to actually start delivery. We will be announcing booking today and hopefully within a month’s time we should be able to start delivering.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Nano is the cheapest car in the world. How was it possible to make a beautiful car in such low price?</strong></div> <div style="text-indent: 0in; text-align: justify;"> The perception of cheapest car might have a lot of people believing that we must have cut corners or compromised. The truth is that Nano is the result of intelligent innovation. We have designed the car in a completely new way so that we were able to rethink how to manage cost and a lot has been done without making compromises. In terms of compactness, it is eight per cent more compact than the closest competitor. In terms of space inside, it is 21 per cent more spacious than closest competitor. In terms of gradability, it is as good as any other competitor. In terms of ground clearance, it is as good as or better than cars in one or two segments above the Nano. In terms of fuel-efficiency, the Automotive Research Association of India has certified fuel-efficiency of 23.6 kilometres per litre. Even in city driving that becomes around 20 kilometres per litre. It is still by far the best among others in Nepal. So, all of this is what we call innovative. These are all important to the customers and in fact they are better than what competitors offer. We have been able to do this in lower costs and that is what we would like to gift Nepal today.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Sometime back, there were questions raised on the safety of Nano because there was abrupt fire on board. How has the company addressed the safety issue?</strong></div> <div style="text-indent: 0in; text-align: justify;"> <span style="letter-spacing: -0.05pt;">On the couple of incidents that happened, I must inform you that essentially they were to do with placement of some foreign object in the car. We can only certify that the Nano is an extremely safe product. It has been built with the highest standards of quality and after these couple of incidents; we actually improved whatever we needed to ensure that any such acts of unauthorised placing do not happen. It is difficult to expect any such incidents in the future. After those incidents happened, notwithstanding the fact that we knew Nano is a safe product, we submitted the car to a fresh investigation of design and everything in entirety. That investigation team included experts from outside Tata Motors so that it is a completely new investigation. You can often be blind to certain things because you believed the product for six to seven years is absolutely a safe product with the robust design and state of the art innovation. Despite our researches and belief, later we decided to make the robust car even more robust. We made enhancements to make it even more robust.</span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> As a testimony of our confidence in the product, we are offering for the first time in the Nepali market, a four-year or 90 thousand kilometre warranty. Nobody else does that. We are extremely confident about the product and I think this warranty provision itself certifies the fact that we believe in safe, sturdy and robust car.</div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <strong>Given the hilly terrain and not so perfect roads even in cities, is Nano the right car for Nepal?</strong></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Nano Yatra has been going on for a month now. It has covered around six thousand kilometres. That is not very long distance but we are glad to report you that it has performed extremely well. It is very robust and sturdy. It has gone across Nepal and we still have a lot of territory to cover. We will be doing 40 thousand kilometres. We are very confident that it will prove itself because we have extensively tested the car in India. The car has been driven on the highest motorable road in the world, Khardungla. We have gone across terrains and we are confident that the same performance that Nano has shown elsewhere will be shown in Nepal. Given the hilly terrain and narrow road, there could be nothing perfect than Nano. Its small size and its gradability makes it really perfect vehicle for Nepal.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Johnny Oommen is the Head of International Business, Passenger Car Unit for Tata Motors Limited. Oommen has a proven track record in bottom-line results, strategic marketing, problem.......', 'sortorder' => '316', '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' => '400', 'article_category_id' => '42', 'title' => 'Budget Hopes (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;"> <i><span style="font-size: 8pt; line-height: 120%;">By Bikram Chitrakar</span></i></div> <div> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">N</span><span style="font-size: 9.5pt;">epal's stock market has started showing some hopeful signs in recent days though during the month till mid-June it was falling down a precipice. The benchmark Nepse index plummeted 43.38 points or 14.29% to settle at 303.53 on June 16. The highest points in the review period was on 18 May (346.91) and the lowest was on 15 June at 292.32, which is lower that what it was on 25 Jun, 2005 (292.47). </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Nepse plummeted after a panic spread across the banking and financial institutions due to liquidity crunch and bad governance. The governance crisis which had started from Nepal Development Bank two years ago and spread to Samjhana Finance Company gripped Gurkha Development Bank and Nepal Share Markets as well. Recently, most of the banks and finance companies are suffering liquidty crisis and they are turning to Nepal Rastra Bank (NRB) for help. NRB has opened refinancing facility to address the problem. Under this facility, there is a provision to provide refinance up to 60 percent of the core capital of the banks and financial institutions.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">During the review period, the Securities Board of Nepal (SEBON) introduced the mutual fund regulation, CDS regulation and Credit Rating Agency regulation. However, all these failed to uplift the market which fell to six years low. Therefroe, the government has urged cash rich public sector instituions namely Employees Provident Fund, Citizens Investment Trust (CIT), Rastriya Beema Sansthan and Nepal Telecom to invest in the secondary market and create demand for shares so as to boost up the market confidence.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The result has been that the market surged 60.87 points during the week 16-23 June. Also the hope that the government’s budget for the coming fiscal year that starts on mid-July will be presented to the parliament in time has helpd in the latest surge in the market. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Delay in presenting the budget for fiscal year 2010/11 is cited as the prime reason for the liquidity crunch. Due to that delay, a massive sum of Rs 30 billion in the government budget is likley to freeze as the government is not able to speed up expenditure. The delay in the current year’s budget was due to obstruction of the parliamentary proceedings by the then main opposition party UCPN-UML. But the present main opposition party Nepali Congress has indicated that it will not cause obstruction in the parliamentary proceedings related to budget approval.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <strong><span style="">Performance by Sector<br /> <br /> </span></strong></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">During the review period, the banking sector which holds the major share in the volume of trade in Nepal Stock Exchange plummeted 57.20 points or 23.02% to close at 248.44. Hydropower sector lost 178.81 points or 36.85% to settle at 485.3. Insurance sub-indices descended 25.25 points along with 23.96 points decline in the trading companies group. Similarly, development banks declined 20.89 points or 7.52% to 277.8. Hotel sector receded 14.70 points or 3.67% to rest at 400.35. Finance sector slumped 9.58 points to close at 295.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Sensitive index that measured the performance of 117 blue chips scrip at the secondary market lost 11.03 points or 14.75% to 74.8 while, the float index calculated on the basis of real transaction lost 4.10 points to arrive at 25.15. Total of Rs. 426328626 was realized during review period from 1987186 units of share traded via 25826 transactions.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The accompanying figure depicts the sector-wise distribution based on the total volume of trade. Commercial bank has occupied the highest share of trade - 48.90% while Development Bank group accounted for 16.52% and hydropower sector 14.97%. Similarly, finance sector’s share was 8.32% while the remaining sectors covered the rest.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Technically, Simple Moving Average (SMA) is dominating the market in the short term as well as in the long term as both 30 days SMA and 200 days SMA are performing poor. Similarly, the Nepse index is bending which will suggest further fall if it fails to stabilize near 300. But since the June 16-23 week has pulled the index up to 364.4, the market has become optimistic again.<br /> <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <i><span style="font-size: 9.5pt;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)<br /> <br /> </span></i></div> <div> <i> </i></div> <div align="center"> <span style="font-size: 10.5pt;">Movement in Indices (18 May - 16 June 2011)<br /> <br /> <br /> </span></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.45pt; border-collapse: collapse;"> <tbody> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-color: rgb(204, 123, 74) white white rgb(204, 123, 74); border-style: solid; border-width: 1pt; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="94"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Indices</span></b></span></div> </td> <td style="width: 39.35pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="52"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Open</span></b></span></div> </td> <td style="width: 38.65pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="52"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">High</span></b></span></div> </td> <td style="width: 40.1pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="53"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Low</span></b></span></div> </td> <td style="width: 38.05pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="51"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Close</span></b></span></div> </td> <td style="width: 37.75pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="50"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">Change</span></b></span></div> </td> <td style="width: 47.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: rgb(204, 123, 74) rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" width="63"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 8pt;">% Change</span></b></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Nepse</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">346.91</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">346.91</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">292.32</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">303.53</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-43.38</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.29</span></span></div> </td> </tr> <tr style="height: 14.9pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Bank </span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">305.64</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">305.88</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">234.01</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">248.44</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-57.20</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 14.9pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-23.02</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Sensitive</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">85.83</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">85.98</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">71.7</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">74.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-11.03</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.75</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Development Bank</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">298.69</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">299.37</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">277.7</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">277.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-20.89</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-7.52</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Hydro</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">664.11</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">664.11</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">473</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">485.3</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-178.81</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-36.85</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Finance</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">304.58</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">304.58</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">295</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">295</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-9.58</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.25</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Insurance</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">426.05</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">426.05</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">398.1</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">400.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-25.25</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-6.30</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Hotel</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">415.05</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">415.05</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">398.66</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">400.35</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-14.70</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.67</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Manufacturing</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">504.17</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">504.17</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">483.25</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">501.8</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-2.37</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-0.47</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Tradings</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">265.96</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">265.96</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">241.97</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">242</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-23.96</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-9.90</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Others</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">477.04</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">486.44</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">430.1</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">460.6</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-16.44</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-3.57</span></span></div> </td> </tr> <tr style="height: 3.55pt;"> <td style="width: 70.7pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white rgb(204, 123, 74) rgb(204, 123, 74); background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="94"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">Float</span></span></div> </td> <td style="width: 39.35pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">29.25</span></span></div> </td> <td style="width: 38.65pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="52"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">29.25</span></span></div> </td> <td style="width: 40.1pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="53"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">24.3</span></span></div> </td> <td style="width: 38.05pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="51"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">25.15</span></span></div> </td> <td style="width: 37.75pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="50"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-4.10</span></span></div> </td> <td style="width: 47.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color rgb(204, 123, 74) rgb(204, 123, 74) -moz-use-text-color; background: none repeat scroll 0% 0% rgb(204, 123, 74); padding: 4.55pt 4.45pt; height: 3.55pt;" valign="top" width="63"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 8pt;">-16.30</span></span></div> </td> </tr> </tbody> </table> <p> </p> <p> </p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-09-16', 'keywords' => '', 'description' => 'Nepal's stock market has started showing some hopeful signs in recent days though during the month till mid-June it was falling down a precipice. The benchmark Nepse.......', 'sortorder' => '315', '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' => '399', 'article_category_id' => '45', 'title' => 'Corporate Movements July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>New comers<br /> <br /> <br /> Yogesh Dhakal </strong>has joined Full Bright Consultancy Pvt Ltd, Maitidevi, as IT Manager. Earlier, he was ICT (Information and Communication Technology) Chief at Hydro Solutions P Ltd, Swayambhu.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Raju Dhoj Thapa</strong> has joined Bhancha Ghar as General Manager. Earlier, he was a Hotel and Restaurant Consultant.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Sandeep Kumar Rai </strong>has joined Casa Toscana as Sous Chef. Earlier, he was Chef De Pati at The Oberai Raj Villas, Jaipur, Rajasthan, India.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Pradeep Khanal </strong>has joined Kist Bank as Head-Risk Assessment Department. Earlier, he was Branch Manager at Everest Bank's Pulchowk Branch.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Prakash Baral </strong>has joined Kist Bank as Risk Manager Credit Risk CA Department. Earlier, he was Manager of Lending department at Nepal Bank Limited, New Road.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Madan Rauniyar </strong>has joined Emami Limited as National Sales Manager for Nepal, International Business Function. Earlier, he was Country Manager at Cavin Kare Pvt Ltd.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Manoj Bhattarai</strong> has joined DCBL Bank Ltd as General Manager. Earlier, he was CEO of Nepal Life Insurance Company.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Pradeep Kumar Shrestha</strong> has joined Tinau Development Bank, Butwal as General Manager. Earlier, he was Branch Manager at Sewa Bikas Bank Ltd, Butwal.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Yadav Bhattarai </strong>has joined Janata Bank Ltd as Branch Manager of Butwal branch. Earlier, he was Operation In-charge at Global Bank Ltd, Butwal.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Neeraj Kumar</strong> has joined Sumy Distillery as General Manager. Earlier, he was a Director with Marketing Access.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Aditi Shrestha</strong> has joined International Finance Corporation (World Bank group). Earlier, she was associated with Beed Management/ Beed Invest.<br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Murari Gautam</strong> has joined Marigold IT Solution Pvt Ltd as Managing Director. Earlier, he was with Nepa Hima Trade Links Pvt Ltd as Deputy Marketing Director.<br /> <br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><u><strong><i>Promotions<br /> <br /> </i></strong></u></span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>Rajendra Subedi </strong>has been promoted as Acting CEO of Pashchimanchal Development Bank, Butwal. Earlier, he was the Assistant General Manager there.<br /> <br /> <br /> </span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><u><strong><i>Transfers<br /> <br /> </i></strong></u></span></div> <div style="margin-top: 8.5pt; text-indent: 0in;"> <span style="font-size:12px;"><strong>P R Mishra </strong>has taken charge as CEO of Life Insurance Corporation Nepal Ltd in place of P Muraleedharan who has been transferred to National Insurance Academy, Pune as Faculty Manager. </span></div> <div> <span style="font-size:12px;"><br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-08-31', 'keywords' => '', 'description' => 'Yogesh Dhakal has joined Full Bright Consultancy Pvt Ltd, Maitidevi, as IT Manager. Earlier, he was ICT (Information and Communication Technology) Chief at......', 'sortorder' => '314', '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' => '398', 'article_category_id' => '38', 'title' => 'Environmental Sustainability July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12.5pt;">B</span>lue Ocean Systems (BOS) is committed to generate awareness and bring about substantial changes towards environmental sustainability. In this context, BOS organized a day-long hiking trip to Shivapuri titled Team Building towards Sustainability on 15th April this year. It was a team building event with the sole purpose of cleaning up the waste in the Shivapuri Mountain.</div> <div style="text-indent: 0in; text-align: justify;"> <br /> </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.25pt;">Though the event was a fun-filled one, it was heartbreaking to see the Shivapuri's beautiful surroundings marred by waste left behind by hikers and picnickers. This careless garbage dumping has attracted many pests and contaminated the nature's reserve. There were food wrappers and plastic plates with food remnants lying around which not only disturbed the beauty of the place but also hampered the eco system of the area. </span></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.25pt;"> <br /> <br /> </span></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">BOS team successfully accomplished the Shivapuri summit clean-up plan by managing to collect the garbage in Shivapuri hill area in less than 30 minutes. At the end of the cleaning exercise, we asked ourselves, Why couldn't people clean their own waste? If every visitor to the park acknowledged their responsibility to preserve the national park by adhering to cleanliness, Shivapuri Mountain would be a magnificent place for all visitors. </span></div> <div style="text-align: justify;"> <br /> </div> <div style="text-align: justify;"> We thought of recommending the following tips to hikers for making their tour worthwhile without compromising on the fun.</div> <div style="text-align: justify;"> <br /> </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.2pt;">BOS shall continue to work towards keeping the environment clean and invites people who wish to use our services to work with us. Together, we can ensure environmental sustainability alongside our various professional tasks.<br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2013-05-24', 'keywords' => '', 'description' => 'Blue Ocean Systems (BOS) is committed to generate awareness and bring about substantial changes towards environmental sustainability. In this context, BOS organized a......', 'sortorder' => '313', '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' => '397', 'article_category_id' => '38', 'title' => 'Prepare Yourself With SAP July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in;"> <i>By Aparajita Acharya</i></div> <div> <br /> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 14.5pt;">E</span><span style="font-size: 9.5pt;">fficiency has become a key factor in today's fast paced business scenario. The trend projection suggests that businesses shall get even more competitive in the days to come. And obviously, as businesses get bigger, they will require more professional systems to stay together and prosper. This is where SAP business solutions come in. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">The demand for SAP trained individuals is increasingly on the rise with SAP becoming one of the most sought-after ERP business solutions today. As every individual appraises his/her own credentials and adaptability in today's cut-throat global competition, companies hire and fire largely mindful of the flexibility, competence and productivity of their staff. Therefore, the question is that of acquiring competence which helps understand businesses in their essence. You must find ways to assure that you never become outdated and easily adapt to the new needs of the growing market.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">Companies try to find people who are already well trained when new recruits are needed to fit into multiple roles. So it becomes essential that you are precisely trained to be saleable in the job market. Among many ERP business trainings on offer, SAP training makes you fit to carry out a multitude of roles and helps you become proactive in understanding business processes and flexible to market requirements. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">Armed with a SAP training, you will be already qualified to kick start your career at a higher level in established companies despite entering the market at a young age. SAP training has assured various locally trained consultants with excellent placements in successful organizations as an increasing number of companies in Nepal advance towards ensuring economical output of a required quality. However, this is definitely not the end of it all.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">A peek at the global job market illustrates an increasing appeal for SAP trained professionals. The US, Australia and Germany are among countries that consistently seem to have high number of positions available for SAP trained individuals. Other countries such as the UK and The Netherlands which look for comparatively less number of SAP trained employees offer equally lucrative salaries to these sought-after consultants, architects and experts.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> <span style="font-size: 9.5pt;">You can either undertake a complete course for SAP or choose to learn only the modules that support your job needs. Among the different SAP modules, those trained in FI, CO, CRM and BI (Business Intelligence) currently seem to be in great demand in the global market. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> <br /> </div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">If you wish to go about chiseling your expertise to match market requirements, a SAP training ensures that knowledge in any business area you wish to participate in, is as good as hands on experience. It helps you carve a niche for yourself in the midst of aggressive competition. Backed by SAP, you can be assured that you have exactly what everybody is looking for whether you decide to work abroad or closer home.<br /> <br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2013-05-24', 'keywords' => '', 'description' => 'Efficiency has become a key factor in today's fast paced business scenario. The trend projection suggests that businesses shall get even more competitive in the days to come. And.........', 'sortorder' => '312', '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' => '395', 'article_category_id' => '39', 'title' => 'Etihad Airways: Fly With The Best - July 2011', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">E</span><span style="font-size: 9.5pt;">tihad Airways is the National Airline of the United Arab Emirates (UAE). It has established itself as the world's leading airline in less than eight years. The airline was set up by a Royal (Amiri) Decree in July 2003 with UAE's capital Abu Dhabi as its hub. It commenced commercial operations in November 2003 and has gone on to become the fastest growing airline in the history of commercial aviation. The airline's near-term focus is on breaking-even in 2011 and moving into sustainable profitability in the following year. Etihad began daily flights to Kathmandu, Nepal on 28 October 2007 and maintains its corporate office at Yak & Yeti Office Complex in Durbarmarg. We are happy with our success here in a short span of time and hope to increase our flight frequency sometime later this year, says John Rees Evans, Etihad's Country Manager for Nepal. He adds, Nepal is primarily a labour oriented market but there is tremendous potential in the business and leisure traveller segments as well.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It has partnered with Gokarna Forest Resort (golf) and Dwarika's Hotel (ancient cultural heritage) locally to entice travellers from the Middle East to spend quality time in Nepal. Etihad carries out its sales functions through affiliated travel agencies in Nepal and encourages them by acknowledging their contributions as well as providing them incentives. It also indulges in indirect marketing with popular brands such as Coca-Cola and Suzuki for brand enhancement. The popularity of Indian television channels certainly helps with its spill over advertising effect in Nepal Etihad's TV promotional has brand ambassador Katrina Kaif appearing in a dance sequence at the first class lounge. A number of airlines from the Middle East enjoy a strong presence in the Nepali market. Our competitors have been operating in the market for a longer period than us but we have our own niche market to cater to, Evans exudes confidence about holding his own with the competition.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <br /> </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Evans believes in treating people the way he wants to be treated himself. He has been in Nepal for nine months now and calls it a pleasant experience. The employees here in Kathmandu that works with me are surprisingly good and very enterprising people, He said. He lets people perform their best and believes in leading by example. He asserts that Etihad being a relatively new entity has its own advantages. We don't have the baggage like some other international airlines and enjoy reasonable freedom, he tells. Looking at growing the market, Evans is buoyant about the current legislation of own <span style="letter-spacing: 0.05pt;">handling at Tribhuvan International Airport (TIA). He is particularly positive about Nepal's only international airport beginning 24 hours operation anytime soon.<br /> <br /> <br /> </span></span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">Etihad Nepal is working towards implementing fast track operations through its counters at TIA. As part of its endeavour, it has already established a separate counter for business travellers while checking-in at TIA. It also boasts of a shared executive lounge for business travellers operated by Hotel Radisson. We have plans to have chefs on board flights to cater to personal taste of our travellers, Evans states. The airline also provides attractive packages for Kathmandu flights by announcing news tariffs which are aimed at improving passenger satisfaction levels and contributing towards Nepal's tourism sector.</span></div> <div style="margin-top: 0.15in; text-align: justify;"> Etihad Airways-Nepal factsheet</div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Flight Details: Kathmandu (KTM) Abu Dhabi (AUH)</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> 7 days a week</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> Mon, Wed, Sat 5:30 pm and </span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> Sun, Tue, Thu, Fri 9:15 pm</span></div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Aircraft Model: Airbus A330-200 / A320 </span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> (as per availability)</span></div> <div style="margin: 5.55pt 0in 0.0001pt 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style="">Employees: 11 employees at the Corporate Office</span></div> <div style="margin-left: 61.75pt; text-indent: -61.75pt; text-align: justify;"> <span style=""> 12 Ground Staff at TIA</span></div> <div style="text-align: justify;"> <br /> </div> <div style="margin: 0in 0in 0.0001pt 11pt; text-indent: -11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Motivated employees </span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Strong product and service</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Can Do approach</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Good connectivity through the busy Abu Dhabi hub</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Comparatively a new entrant</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Building density into the network</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Optimising the fleet and its utilisation</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Reaching profitability</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Planning for growth</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Continuing to innovate</span></div> <div style="margin: 5.65pt 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin: 0in 0in 0.0001pt 11pt; text-align: justify; text-indent: -11pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;"> Frequent strikes</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%; color: black;"> Security issues<br /> <br /> <br /> </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2012-10-04', 'keywords' => '', 'description' => 'Etihad Airways is the National Airline of the United Arab Emirates (UAE). It has established itself as the world's leading airline in less than eight years. The airline was set up by a Royal.....', 'sortorder' => '311', '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' => '394', 'article_category_id' => '39', 'title' => 'Etihad Airways-International(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 12pt; letter-spacing: 0.1pt;">E</span><span style="letter-spacing: 0.1pt;">tihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st century global airline challenging and changing the established conventions of airline hospitality. Apart from providing a relaxing experience, it strives to make travel safe and environment-friendly by practicing the highest global standards in both these areas. The airline is constantly innovating, taking the smallest detail into account in its pursuit of excellence and perfection. The overall ambition of Etihad Airways is to be the best airline in the world. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> Etihad is governed by a Board of Directors under the chairmanship of HH Sheikh Hamed bin Zayed Al Nahyan while the airline’s management team is led by James Hogan who was appointed as Chief Executive Officer in October 2006 to lead the airline’s continued successful growth and development. The ongoing redevelopment work at Abu Dhabi International Airport has significantly enhanced the experience for guests. The second runway, officially opened in October 2008, is part of a large scale UAE Dirham (AED) 25 billion redevelopment programme and expansion project at the airport. Terminal 3 at Abu Dhabi Airport, an exclusive facility for Etihad, was opened in February 2009 increasing the airport’s passenger handling capacity from five to 12 million passengers a year. The first phase of a Midfield Terminal Complex is due for completion in the next few years and will take the airport’s handling capacity to 20 million passengers. The airport will be capable of handling 40 million passengers by 2030 when the project is completed.<br />  </div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Fleet and network</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad’s fleet, among the youngest in the world, has 57 aircraft operating 1,032 flights per week serving an international network of 68 destinations in 45 countries in the Middle East, North America (New York, Chicago and Toronto), Africa, Europe, Australia and Asia (including Kathmandu in Nepal). In addition, Etihad has 30 code-share agreements in place, building the airline’s international network. As part of its long term vision, Etihad plans to operate in up to 100 major business and leisure destinations around the world by 2020. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">The airline announced the largest aircraft order in commercial aviation history at Farnborough International Air show in 2008, for up to 205 aircraft – 100 firm orders, 55 options (guaranteeing the price of the aircraft and the delivery date) and 50 purchase rights (guaranteeing the price of the aircraft but not the delivery date).<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">People and Company Growth </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Currently, close to 8,000 people work at Etihad Airways with the majority based in Abu Dhabi and the UAE. In order to meet Etihad’s predicted fleet, passenger and destination growth by 2020 – which plans for more than 25 million passengers to fly to more than 100 destinations aboard a fleet of 150 planes – the airline will need a workforce of approximately 27,000 people. In 2010, Etihad saw passenger numbers top 7 million (7.1 million passengers carried) for the first time and revenue passenger kilometres (RPKs) rise 20.1 per cent. Etihad’s revenue exceeded US $2.9 billion in 2010. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">On the ground, Etihad has introduced a range of services designed to make the travel experience as comfortable, smooth and fast as possible. It offers a range of convenient ground services, including Etihad Chauffeur, its premium limousine service available at 27 destinations globally, and premium lounges (370,000 lounge guests hosted) in Abu Dhabi, London, Frankfurt, Dublin and Manchester.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Etihad Guest</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: -0.35pt;">Etihad Guest is an award-winning loyalty programme boasting over one million members to date. Launched in August 2006, the programme offers its members opportunities to accumulate Etihad Guest Miles which can be redeemed against a wide selection of over 1,800 flight and non-flight rewards from over 200 partners. Non-flight rewards cover a wide variety of categories from computer and electronic equipment to jewellery and lifestyle products. Each year, over 40 promotions are organised by the CRM and Loyalty department and communicated to all Etihad Guest members.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Sponsorships</span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.1pt;">Etihad supports a range of sporting and cultural events in the UAE and the world over. These sponsorships are consistent with Etihad’s values of hospitality and team spirit and helps bring Abu Dhabi to the world and vice-versa. Its major sponsorships include Etihad Stadium, Ferrari Formula 1 (F1) Team, Sport Australia Hall of Fame, GAA Hurling All-Ireland Senior Championship, Harlequins Rugby Football Club, F1 Etihad Airways Abu Dhabi Grand Prix and Manchester City Football Club.<br /> <br /> </span></div> <div style="text-align: justify;"> <strong><span style="letter-spacing: 0.1pt;">Marketing </span></strong></div> <div style="text-align: justify;"> <span style="letter-spacing: 0.2pt;">The airline’s marketing department plays a major role in taking the Etihad Airways story to the world. Etihad was awarded ‘World’s Leading Airline’ at the World Travel Awards in 2010 for the second consecutive year. It set the benchmark for the airline’s brand communications enabling Etihad to inspire its audiences through a range of campaigns to ‘fly with the best’. The same year, it launched an international television advertising campaign titled ‘He Likes, She Likes’ showcasing the airline’s continued investment in products and services and commitment to offering a tailored, personal experience for every traveller.</span><span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <strong>An Award Winning Airline</strong></div> <div style="text-align: justify;"> Etihad has received a range of awards that reflects its position as the leading premium airline brand in the world. In its first seven years of operation, its range of local and international awards includes:</div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2011 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Long Haul Airline – Irish Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2010 </span></b></div> <div style="text-align: justify;"> <span style=""> Airline of the Year – Aviation Business Awards </span></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline – World Travel Awards (second consecutive year)</span></div> <div style="text-align: justify;"> <span style=""> World’s Best First Class – Skytrax (judged by over 18 million air travellers worldwide in the annual Skytrax survey)</span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2009 </span></b></div> <div style="text-align: justify;"> <span style=""> World’s Leading Airline - World Travel Awards (WTA) </span></div> <div style="text-align: justify;"> <span style=""> Best Airline to the Middle East / Africa - Irish Travel Trade News awards, Dublin </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2008 </span></b></div> <div style="text-align: justify;"> <span style=""> European Sponsorship of the Year Award - European Sponsorship Association </span></div> <div style="text-align: justify;"> <span style=""> James Hogan, Aviation CEO of the year - CEO Middle East awards (ITP) </span></div> <div style="text-align: justify;"> <span style=""> Best website www.etihadairways.com - Pan Arab Web Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2007 </span></b></div> <div style="text-align: justify;"> <span style=""> Best Economy class catering award - Skytrax </span></div> <div style="text-align: justify;"> <span style=""> The Middle East’s Leading Airline - World Travel Awards </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2006 </span></b></div> <div style="text-align: justify;"> <span style=""> Middle East Airline of the Year - Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2005 </span></b></div> <div style="text-align: justify;"> <span style="font-size: 5.5pt;"> </span><span style="">Outstanding Food Service by a Carrier – Pax International magazine </span></div> <div style="margin-top: 5.65pt; text-align: justify;"> <b><span style="">2004 </span></b></div> <div style="text-align: justify;"> <span style=""> The World’s Leading New Airline – World Travel Awards</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="font-size: 13.5pt; letter-spacing: 0.15pt;">‘Essential Abu Dhabi’</span></div> <p style="text-align: justify;"> <span style="font-size: 11pt; line-height: 115%;">Etihad Airways has designated 2011 as ‘the year of Abu Dhabi’ with the launch of its ‘Essential Abu Dhabi’ destination marketing campaign. The campaign will see Etihad unveil a number of exciting promotional activities across the globe designed to enhance Abu Dhabi’s place as a top tourist and MICE (Meetings, Incentives, Conferences and Exhibitions) destination. All the major tourism operators in the emirate of Abu Dhabi have come together under one showcase umbrella for the first time to promote the very best UAE capital has to offer. The campaign is being supported by the Abu Dhabi Tourism Authority as a major partner. The programme is also targeting millions of passengers transiting through the Abu Dhabi hub, to entice them for a stopover in the city.</span></p>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Etihad seeks to reflect the best of Arabian hospitality as well as enhance the prestige of Abu Dhabi as a centre of hospitality between East and West. Its goal is to be a truly 21st.....', 'sortorder' => '310', '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' => '393', 'article_category_id' => '39', 'title' => 'ICFC: Going Steady(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of ICFC, claimed the company maintains liquidity of 28 to 30 per cent at any given point of time. “Maintaining liquidity is our key concern at present. We think of profitability only after we have maintained enough liquidity,†he explains. The company has made a net profit of Rs 27.19 million by the end of third quarter of the current fiscal year.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">After being registered in 2003, ICFC commenced its operations from July 17, 2004. “We started with a paid-up capital of around Rs 25.5 million before going public,†Pant shared. In its seven years of operation, the company has Rs 330 million as paid-up capital out of core capital of Rs 400 million.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant asserts that success did not happen overnight. He says, “We are always focused on our future plans and tread a cautious path while lending.†He added that the finance company is headed by professionals with long exposure and experience in commercial banking. Ram Babu Pant heads the company as the CEO and has served as Deputy Governor of Nepal Rastra Bank (NRB) in the past. The board of directors too comprise of influential members under the chairmanship of Suresh Kumar Agrawal.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;"> “The economic sector was booming and there were a lot of business opportunities when we began our service,†says Pant. He claims ICFC’s Credit to Deposit ratio is around 70 to 75 per cent. He adds, “We never focused on investment in a single sector since the beginning.â€<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">At present, ICFC has deposits of around Rs 3 billion and loans and advances amounting to Rs 2.45 billion. Therefore, the difference between loans and deposit is around Rs 550 million while cash in reserve is about Rs 1.05 billion. It lends mostly in trading, industry and education sectors and less in hire purchase and margin lending. Pant said the company has refrained from investing in land plotting and real estate though it does grant personal and home loans.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company has eight branches including the main branch at Bhatbhateni. Pant tells that ICFC opens a new branch only after the previous branch reaches break-even . It has been launching a new branch every year in a phase-wise manner. He opines, “We are a finance company so opening multiple branches at once will be challenging to manage. We do want to upgrade our status. However, we have opted to wait and watch given the current state of the economy.†He thinks the current liquidity crisis is snowballing into a sort of credit crunch. “We must maintain a strong position with respect to liquidity as we are responsible for safeguarding our depositors’ interests,†he asserted.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC has been giving either dividend or bonus shares to its stakeholders every year on an alternate basis. “A cash dividend of 15 per cent was given last year while bonus shares were issued the year before,†Pant states.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The finance company offers its own ATM services at every branch. It is also linked to the SCT network which has around 1,500 ATM counters throughout the country. Pant says that customer satisfaction is the topmost priority at ICFC. “We provide all banking products and facilities offered by a conventional bank,†he claims. The company provides all banking services including mobile banking, SMS banking and Internet banking apart from locker facilities at some of its branches.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Pant distinguishes ICFC from similar institutions through its quality of services provided. “Everyone is doing almost similar things in the market but we are more focused on service delivery along with our bouquet of total banking services,†Pant explains.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The company believes that banking industry largely depends on trust which should not be shaken at any cost. Therefore, the company has made corporate governance its top priority. Pant attributes the failure of some banks and finance companies to weak corporate governance rather than liquidity problem. Pant reassures ICFC was safe in the past and will remain safe in the future too. Its reputation has helped build a customer base of around 50,000 people.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">ICFC is increasing its access to micro financing through First Micro Finance Development Bank, of which it is a promoter. Little service differentiation between commercial banks and finance companies has led to competition between them. Pant feels that while competition is good and adds excitement to work, ICFC does not indulge in aggressive competition. He thinks customers are spoilt with choices today and are free to subscribe to better services and facilities offered by just any company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">A total of 85 employees work at ICFC Finance Limited. Pant says, “We give equal priority to all ICFC family members and ensure a sense of belonging and job satisfaction. We give our people a lot of independence and authority to meet these objectives.†He adds that the company’s uncompromising attitude in providing facilities at par with the competitors has helped ensure employee retention to a large extent.<br /> <br /> </span></div> <div> <span style="font-size: 9.5pt; line-height: 115%;">ICFC plans to achieve and sustain unprecedented growth in the future. However, it is eagerly waiting for policies that will come in with the new fiscal year. “We can then decide our future course of action,†Pant concludes.</span></div> <div>  </div> <div style="margin: 11pt 0in 0.0001pt; vertical-align: middle;"> <span style="font-size: 11.5pt;">SWOT Analysis</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Strengths:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Team of experienced professionals</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Strong capital base</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity maintenance</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Total banking services</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Focus on service delivery</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Weaknesses:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Less number of branches</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Small capital size</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Opportunities:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Huge market potential</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Services and branches expansion</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Investment possibilities</span></div> <div style="margin: 5.65pt 0in 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Threats:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Liquidity crunch in the market</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt; color: black;">Political and policy instability</span></div> <div> <span style="font-size: 9.5pt; line-height: 115%; color: black;">Lack of investment environment</span></div> <div>  </div> <div align="center"> Unaudited Financial Results as of mid April 2011</div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 4.1pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td style="width: 91.95pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Particulars</span></b></span></div> </td> <td style="width: 99.55pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Third quarter ending (by mid April)</span></b></span></div> </td> <td style="width: 119.2pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><b><span style="font-size: 9.5pt;">Corresponding previous year third quarter ending </span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Paid up capital</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">329,384</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Borrowings</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">710,000</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">335,000</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Deposits</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">3,059,446</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,3 71,753</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Investments</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">189,835</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">139,468</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Loans and Advances</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,451,804</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">2,168,906</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Net Profit</span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">27,196</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">41,964</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 91.95pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="123"> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">Non Performing Loan in percentage </span></span></div> </td> <td style="width: 99.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="133"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.92%</span></span></div> </td> <td style="width: 119.2pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 4pt 4.1pt; height: 3pt;" width="159"> <div align="right" style="margin-bottom: 0.0001pt; text-align: right; line-height: 11pt; vertical-align: middle;"> <span style="color: rgb(255, 255, 255);"><span style="font-size: 9.5pt;">0.49%</span></span></div> </td> </tr> </tbody> </table> <div align="right" style="text-align: right; text-indent: 0in;"> <i><span style="font-size: 7.5pt;">Source</span></i><span style="font-size: 7.5pt;">: ICFC Finance Limited</span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'ICFC Finance Limited has been largely successful in maintaining its liquidity while a number of financial institutions continue to face liquidity crunch. Sunil Pant, General Manager of.....', 'sortorder' => '309', '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' => '392', 'article_category_id' => '39', 'title' => 'Story Of NIDC's Turnaround (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><b><span style="line-height: 120%;">Shanta Bahadur Shrestha</span></b></span></div> <div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 120%;">Chairman</span></span></div> <div style="text-align: justify;"> <span style="font-size: 14px;"><span style="line-height: 115%;">NIDC Board of Directors</span></span></div> <div style="text-align: justify;"> We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.</div> <p>  </p> <div> <table cellpadding="0" cellspacing="0" hspace="0" style="width: 1px; height: 15px;" vspace="0"> <tbody> <tr> <td style="padding: 0in; text-align: justify;" valign="top">  </td> </tr> </tbody> </table> </div> <p style="text-align: justify;"> <span style="font-size: 9.5pt;">Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs 1.41 billion in 2005-06, but it is now expecting a net profit of Rs 300 million in 2010-11. </span></p> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">“We are going to make profit this fiscal year and hopefully declare dividend also,†said Shanta Bahadur Shrestha, Chairman of NIDC Board of Directors and joint secretary at the Ministry of Finance, at the 53rd anniversary function of the corporation on June 15, 2011. Highlighting the recent achievements, company’s General Manager and Director Shivjee Roy Yadav noted that the company’s net worth per share that was a negative Rs 193.47 at the end of 2005-06 has now turned positive to Rs 192.87, by mid-April 2011.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Behind the newly-found optimism is a long story of struggle and perseverance. Set up in 1959, this first development finance companybloomed till the early 1990s before sliding into a financial mess. Eventually, the government on February 24, 2004, decided to stop this public enterprise from extending any new loan and to focus on just recovering its investments. The plan was to ultimately liquidate the company.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Though the government decision was made on the basis of a recommendation from PriceWaterhouseCoopers, the company’s management was finally able to convince the government that it can be revived and the government stands to lose if the company is liquidated. Then, a new decision was made by the government on March 2, 2009, that allowed the company to work as a deposit taking institution. Thus, the company started functioning as a bank and this change made the company rise from its deathbed and re-establish itself as a vibrant financial institution. NIDC commenced its banking service from February 8, 2010, and now it is a major provider of funds in the inter-bank market, Yadav claims. Meanwhile, the company focused on recovery and sold some of its investments in stocks. As a result, it fully repaid all the loans it had to pay to the Nepal Rastra Bank and the government. “This is indeed an achievement,†says Yadav, Had the government gone ahead with the liquidation as per the PriceWaterhoseCoopers recommendation, the Nepal Rastra Bank and the government would not have got their money back. Rather, they were required to inject additional capital to clear various other liabilities of the corporation.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Today, NIDC has an authorised capital of Rs 1.20 billion of which Rs 600 million is issued and Rs 415 million is paid-up. Its non-performing loan has reduced to 75.6 percent by mid-April 2011 from 99.79 percent a year ago. This has further reduced to 70 percent by mid-June and the target is to reduce it further to 35 percent next year, says Yadav. This year’s revised estimate of the profit is lower than the initial estimate. The initial target was Rs 570 million but that could not be achieved as the plan to realise the loan of Himal Cement by selling the mortgaged assets could not go ahead. Similarly, the plan to sell the corporation’s shares in Nabil Bank and NIDC Capital Market could not implemented, explains Yadav. He expects to make these sales once the country’s property and share markets revive.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Established on June 15, 1959, the company’s mission is to contribute to industrialisation of the country through industrial project financing. Initially, established as a corporation under a special law the Nepal Industrial Development Corporation Act 1959, it was later registered under the Company Act and in 2006 it was made a national level development bank under the Banks and Financial Institution Act 2006.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">From its beginning to mid-April 2004, NIDC invested more than Rs 6 billion in 1,520 industrial projects in different parts of the country. The company estimates that in those projects about 80,000 people received direct employment while 350,000 others got indirect employment.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">NIDC today offers its banking services from its head office in Kathmandu and two regional offices in Biratnagar and Pokhara. The plan is to start banking services also from the Nepalgunj and Dhangadhi offices with approval from the central bank. Meanwhile, the company has started ATM services by setting up an ATM station at the central office and the plan is to set up ATMs in other branches as well in other places of Kathmandu. 9 AGMs in One Go<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">One major recent development of the company is the AGM held on May 7, 2011. It is a major development because there has been no AGM for last nine years from 2001-02 through 2009-10. From the next year, the AGM will be regular, hopes Yadav. One major decision taken at the AGM is to change the company’s name into NIDC Bank Ltd, subject to approval from the relevant authority. <br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Currently 99.26 per cent of the corporation’s ownership remains with the government while 0.74 per cent stakes are with the public. Therefore, the company’s shares are not traded in the stock exchange though it is listed there. Presenting the annual report to the shareholders in the May 7 AGM, the company’s chairman Shrestha informed about the plan to issue shares through further public offerings so as to increase its paid-up capital.<br /> <br /> </span></div> <div style="margin-bottom: 0.0001pt; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="font-size: 9.5pt;">Shrestha says, “We are not in aggressive lending and what we have invested in the real estate sector is far below what is allowed by NRB.†</span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;">According to Shrestha, the company is also planning to offer services like 365 days banking, evening counter, Internet Banking, SMS Banking, Remittance Service, Mobile Banking among other new products. </span><span style="font-size: 6.5pt; line-height: 115%; color: rgb(237, 28, 36); letter-spacing: -0.05pt;">n</span></div> <div style="text-align: justify;">  </div> <div style="margin-top: 8.75pt; text-align: justify;"> <span style="font-size: 9pt;">Financial Statistics of NIDC as of third quarter of 2010/11</span></div> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6.5pt;">Rs in million</span></i></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-left: 3.25pt; border-collapse: collapse;"> <tbody> <tr style="height: 3pt;"> <td rowspan="2" style="width: 86.15pt; border: 1pt solid white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Particulars</span></b></span></div> </td> <td colspan="6" style="width: 224.45pt; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: white white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="299"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">Fiscal years</span></b></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2005/06</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2006/07</span></b></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2007/08</span></b></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2008/09</span></b></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2009/10</span></b></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><b><span style="font-size: 7.5pt;">2010/11 by mid April</span></b></span></div> </td> </tr> <tr style="height: 12pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Paid-up Capital</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 12pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">415.8</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Net Profit</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(602.8)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.5</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">797</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">172.2</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">354.5</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.4</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Accumulated Profit (Loss)</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1416.2)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(1347.3)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(595.5)</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(459.3)</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(179.4)</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(109.5)</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Reserves</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">195.9</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">213.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">372.8</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">407.3</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">478.2</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">495.6</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Networth/Share Rs</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(293.46)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">(172.67)</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">46.44</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">87.48</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">171.86</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(194, 117, 70); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">192.87</span></span></div> </td> </tr> <tr style="height: 3pt;"> <td style="width: 86.15pt; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: -moz-use-text-color white white; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="115"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">Loan Investment</span></span></div> </td> <td style="width: 35.4pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="47"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1712.4</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1466.8</span></span></div> </td> <td style="width: 35.85pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1329.7</span></span></div> </td> <td style="width: 0.5in; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="48"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1258.5</span></span></div> </td> <td style="width: 34.8pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="46"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1118.6</span></span></div> </td> <td style="width: 46.55pt; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: -moz-use-text-color white white -moz-use-text-color; background: none repeat scroll 0% 0% rgb(89, 37, 49); padding: 3.2pt 3.25pt; height: 3pt;" width="62"> <div style="margin-bottom: 0.0001pt; line-height: 11pt; vertical-align: middle; text-align: justify;"> <span style="color: rgb(240, 255, 255);"><span style="font-size: 7.5pt;">1273.6</span></span></div> </td> </tr> </tbody> </table> <div style="text-indent: 0in; text-align: justify;"> <i><span style="font-size: 6pt;">Source</span></i><span style="font-size: 6pt;">: NIDC Press Release on the 53rd anniversary day. </span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '2011-09-01', 'keywords' => '', 'description' => 'Nepal Industrial Development Corporation Ltd (NIDC), once a comatose public enterprise, has now turned around to become a vibrant company. It had an accumulated loss of Rs..........', 'sortorder' => '308', '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' => '391', 'article_category_id' => '38', 'title' => 'Essentials Of Employees’ Learning Habits (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="text-indent: 0in; text-align: justify;"> <i>By Kriti Bhuju </i></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 11.5pt;">L</span><span style="font-size: 9.5pt;">earning is a prerequisite to growth. Both employers and employees need to enhance their knowledge, skill and ability for continuous organizational as well as professional development and growth in the present context. Learning is essential to keep in tune with trends and developments in our field.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is essentially important to make learning a habit as most employees do not focus a great deal on reading and learning. Employees must have a self realization that enhancing their capacity helps upgrading their own knowledge. They must also have the habit of aligning themselves with others to find out their weaknesses. Some organizations have the practice of skill assessment which motivates the employees to learn new things and upgrade their skills.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is crucial to develop learning culture so that learning becomes a trend in organizations for everybody to follow. It is not advisable to push people to learn; employers must provide learning environment and freedom to create culture. Employees must have the feeling that those who are always ready to learn are more successful in their careers. They are more productive and attentive towards quality than the employees who are not eager to learn. Learning habits come naturally for some. However, some others do not wish to learn until their bosses ask them to. People are bound to follow once a system of learning is initiated. This ultimately yields a positive outcome. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Learning is not a habit at the root level and that is where the problem lies. Organizations need to focus on having a library, learning zone and providing different trainings to create learning habit among their employees. The employees must also develop a tendency to learn from their subordinates. If a person is really interested in learning, s/he should shun superiority complex and be prepared to learn from juniors. However, this is a vital aspect of learning which we do not see in practice.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It helps the employer to create an atmosphere of learning within the organization if a person’s willingness to learn can be identified during the selection process itself. We can learn from any part of the world through e-learning and virtual learning as technology has made learning easier nowadays. Many INGOs have a rule for employees to do a course through e-learning which forces them to learn. They should share their learning and achievement with their co workers after taking certain trainings or completing a course.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">An individual should understand the importance of learning and realize that it is for their own growth in terms of enhancing knowledge, skills and abilities. Learning habit should come from their heart and mind because it cannot be injected in an individual. Learning culture can be inculcated only if an individual is interested in it. Developing a learning culture ultimately helps employee retention and contributes towards employer branding overall.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="text-align: justify;"> <i><span style="font-size: 9.5pt; line-height: 115%;">(The write-up is based on an ‘HR Kurakani’ discussion on “Essentials of Employees’ Learning Habit†on 25 May 2011 conducted by Real solution Pvt Ltd. The participants at the discussion included representatives from commercial banks, INGOs, IT companies, industries, private organizations and freelancers. Shailendra Raj Giri, MD of Real Solutions acted as the moderator of the discussion while Nibha Shakya, HR Executive of the company was the coordinator of the event.)</span></i></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Learning is a prerequisite to growth. Both employers and employees need to enhance their knowledge, skill and ability for continuous organizational as well as professional..........', 'sortorder' => '307', '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' => '390', 'article_category_id' => '38', 'title' => 'OHS & People Engagement (july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <i><span style="font-size: 8pt; line-height: 120%;">By Dr Rabindra Karna</span></i></div> <div style="text-align: justify;">  </div> <div style="text-indent: 0in; text-align: justify;"> <span style="font-size: 11.5pt; letter-spacing: -0.1pt;">E</span><span style="letter-spacing: -0.1pt;">mployee engagement in OHS (Occupational Health & Safety) is not only critical to its effective management but also an integral part of productivity and quality management at the work place. Achieving this necessitates commitment of all parties concerned – the management, employees and the Union – to meet the objectives and long term approach of an organisation. The existence of issues related to health and safety at a work place has a huge impact over business performances. It adversely affects employees’ performances and encourages absenteeism due to illnesses, injuries etc. Health & Safety, an important element in our daily life, affects everyone including employees, managers, owners, family, society, contractors and visitors. Effective OHS management helps improve the well-being of employees, workplace environment and business operation. All these factors together ensure overall business. The employees’ engagement towards OHS seeks to change workplace culture and beliefs for improved and safe work practices through positive engagement of people, communication and training. </span></div> <div style="text-indent: 0in; text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Effective communication is vital for business management wherein periodical group discussions cultivate consultation among the workforce. Health, safety and environmental issues are discussed in these forums in addition to measures for current business improvement and the way forward. These consultations intend to instill the entire organization’s trust and direct everyone to follow the targeted business destination. The employees are encouraged to participate in various decision making practices such as process enhancement, management plans, skills development and risk analysis. This actively encourages open communication amongst the workforce resulting in operation and work culture improvement.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">While trust plays a vital role in achieving desired level of people engagement, it is one of the most difficult tasks for business leaders. Business leadership requires demonstrating consistency in words and action by resorting to fair communication. It supports creation of a culture securing complete engagement of human resources and driving business results. At present, businesses are recognizing safety, health and environmental responsibilities as integral parts of daily routine. They are focused towards preventing occupational injury and illness as well as minimizing adverse impact on the environment. Business operations are extensively engaging in identifying priorities to ensure that these initiatives match people resources and community expectations. They are also working on an awareness drive to see regular communication and basic as well as specialized training on OHS. Employers have the responsibility of providing a safe place and work system. At the same time, employees are responsible for strictly adhering directions floated for safe work practices. Effective safety management requires compulsory integration of health and safety into planning, purchasing, production, distribution, sales and financial aspects of a business. There must be moves with clear understanding and considerations giving equal importance to productivity & quality management. It is because business improvements, risk reduction and efficient cost economy flow from a successful implementation of OHS management system.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Further, industrial relations and OHS are interlinked and these must be recognized throughout management efforts in building productive and safe work environment. The most essential requirement is to train and provide logistical support to the health and safety committee inviting its engagement for generating awareness and workforce’s interest in OHS. It is also inevitable to recognize that the Union plays a vital role in facilitating effective people engagement for participatory mechanism afforded by them keeping industrial relations in mind. This makes the employees, the Union and HR associates key stakeholders leading to dedicated participation towards the OHS program. The Unions and HR practitioners’/associates’ involvement facilitates effective dissemination of OHS process. It also encourages a better understanding of risk exposures and need for the mandatory usage of protective devices, workplace equipment, changed work practices etc on the employees’ part.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">The frequency and severity rate is the traditional form of statistical measurement of incident, accident, injury and illness. These measurements are indicators for cost efficiency, associated cost on workplace safety, loss of working hours etc. More than anything else, people resources utilization largely depends on effective improvement of working conditions to the extent of changing circumstances in the workplace. Constant and regular surveys are popular initiatives aimed at improving public commitment towards health and safety. Top management leadership in association with HR associates is critical in terms of integrating OHS management system into core business and its philosophy. The leadership displays genuine concern for employees’ welfare, provides greater opportunity to succeed and achieve OHS performance at the desired level. This also results in capturing an organization’s greater commitment towards health and safety policies thereby cultivating high degree of awareness and reducing accident and injury risks. At present, the business teams are highly energetic and equipped well with strong communication skills. Most essential and desired expectations can only be achieved with proactive approach, effective engagement and structured coaching. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">One of the key elements of the OHS drive is standard policy and implementation strategy. OHS policy cannot have productive implementation unless it overcomes traditional approaches which deal with troubles as and when they occur. On the other hand, proactive approach is the current practice and need which is based on elimination of causes rather than dealing with effects. Documented OHS system, process and policy demonstrate and quantify the need as well as explain the necessity while obtaining commitment from all parties in writing. An OHS system enables coordinated approach to health and safety instead of dealing with conflicting information leading to confusion. Any uncertainty pertaining to work practices amongst people resources exposes organizations to unacceptable risks. Though many organizations perceive health & safety management implementation as too difficult, there are key advantages of systematic implementation and health & Safety management. Investment towards OHS management system minimizes workplace illness and injury and contributes towards reducing direct and indirect cost to the company. </span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">Above all, the feedback from the workforce is important evidence to measure OHS effectiveness and employee engagement. It plays a vital role in improvising OHS strategies and works as an eye-opener towards improvement needs in the current system. It quantifies actual measures of OHS performance which is open for manipulation through leave arrangements, changing shift of the affected employee etc. Both formal and informal feedback must be applied for qualitative checks on OHS program practices within the work schedule. While OHS encourages people’s contribution towards internal processes and learning, workers and the Unions are more likely to commit themselves and participate in best practices. As a matter of fact, this is essential for employee engagement in dealing with OHS in the form of a joint OHS committee and other participatory mechanisms such as labor relation committee.</span></div> <div style="text-align: justify;">  </div> <div style="text-align: justify;"> <span style="letter-spacing: -0.1pt;">It is also advisable to involve people through workplace inspection, periodical interaction with operational team and work groups and measurement and evaluation exercises. This is where an organization instills the opportunity to drive the changing process of OHS management system. It ensures prevention from future injuries, accidents and illnesses. This can be taken as the best opportunity in view of the well known and accepted fact ‘Prevention is always better than cure’. </span></div> <div style="text-align: justify;"> <i><span style="letter-spacing: -0.1pt;"> (Dr Karna is the Executive Chairman of MARK Business Solutions Pvt Ltd and Ad Abhyas Marketing & Communications Pvt Ltd. The article is based on various research reports and his practical experiences as management practitioner.)</span></i></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'Employee engagement in OHS (Occupational Health & Safety) is not only critical to its effective management but also an integral part of productivity and quality management at the......', 'sortorder' => '306', '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' => '389', 'article_category_id' => '38', 'title' => 'Deep Leadership(july 2011)', 'sub_title' => '', 'summary' => null, 'content' => '<div style="margin-bottom: 0.0001pt; line-height: 120%; vertical-align: middle; text-align: justify;"> <i><span style="font-size: 8pt; line-height: 120%;">By Sujit Mundul</span></i></div> <div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;"> <span style="font-size: 12.5pt;">W</span><span style="font-size: 9.5pt;">hen considering management in the decade of 1990s, three important observations could be made: The massive efforts made to change the way organizations operate, the astonishing degree of failure that accompanies all but a handful of such attempts, and the radical aversion to risk-taking. One might think that the high degree of failure has provided us with a mountain of data to understand the causes. This is a correct assumption. In the same breath, one might also contemplate that the data load enables us to predict a successful route to change; but this is probably wrong. We know why change goes wrong, but we find it enormously difficult to make changes work.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The problem of change is especially significant now. Because as we see management and organizations in the western world appear to be in a state of constant turmoil as change follows change in an ever more frantic attempt to reverse what it took two centuries to construct. The traditional methods of organizing business including public services, no longer seem viable.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">It is possible that organizations are really autistic; in other words, organizations rather than their leaders are unable or unwilling to listen to what others are saying to them. Perhaps, their strategic intentions are rolled out irrespective of the advice that is being offered to them. In this context, one could possibly agree that IBM went through a phase of being an autistic organization, as its market share crumbed and its leadership continued to exercise the less than successful strategy despite internal and external criticism and advice that the company was going wrong.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Keith Grant in his famous article “Managing Change through Commitment†mentioned:</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">“Now that we have uncovered some possible benefits and disadvantages with commitment as a panacea for change … I want to consider the extent to which leadership can displace the problematic fuzziness of subordinates with a transparent way forwardâ€. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Let us now focus on the significance of leadership rather than change. These two very often appear to be linked: leadership in itself implies change. So, let us look at the significance that different contemporary theories attribute to leadership. In traditional models, leaders are the critical sine qua non, but some current approaches attribute very little to leadership, or reconstruct the meaning of the term to change the entire debate. Leadership is amongst the most perspective areas of management knowledge.</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">Despite an enormous outpouring of material during the second half of the twentieth century, we appear to be little closer to understanding leadership than either Plato or Sun Tzu, who began the written debate several thousand years ago. Since post-war period it appears that we have gone full circle: From assurances that personality traits were the key, though equally valid counter argument that the situation was critical, to a controversy over whether the leader was person or task-oriented, and back to finding out the charismatics whose visions and transformational style would explain all (Bryman 1992). During this latter period there has been a prescriptive urge to push leadership in an empowering direction so that Super Leadership (Manz and Sims, 1991) can ensure that Leaders work to free up the skills and potentials of their subordinate rather than throttle initiative in bureaucratic and functional hierarchies. Now, let us touch upon a different aspect of leadership: Personality. More importantly, stable personality. When we see the boss sacking an employee for some minor mistake we know just how hard–hearted she is; when she brings her baby to work she seems quite different, almost pleasant. Keith Grant has cited another example when someone reveals her school report it is quite difficult to imagine the “shrinking violet of 2b†against the assertive CEO now standing before us. Yet, according to another colleague, she isn’t assertive at all, but downright aggressive. Could she be all these things to different people? Could it be that there is no solid centre here, no core characteristics that remain unchanged across time and space? Or perhaps, it is the people who interact with her, who construct the character? If this is so, is there no essential “essence†to people, but merely a character that is constructed through various relationships? Which characterization prevails over time tends to depend upon who has the power to reproduce it; thus accounts of popular figures may change with each biography! Indeed, a difficult proposition. </span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The concept of Deep Leadership suggests that leadership processes and practices, not roles are critical; that leadership is deeply and systematically present throughout all levels of the organization and not just at the formal top of the hierarchy; and that the fixation with formal leaders or Shallow Leadership and not informal or Deep Leadership is also rooted in an epistemological approach that perceives leadership to be only the effect of leaders and never the consequence of followers. It may be that leadership is an ineffective phenomenon in terms of the survival of organizations as population ecology models suggest or that leadership is merely the requirement of normative pressures as institutional theory suggests or that it is merely a myth whose purpose is to ensure the survival of the leaders themselves (Gemmill and Oakly, 1992).</span></div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">  </div> <div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;"> <span style="font-size: 9.5pt;">The approach towards Deep Leadership also seeks to examine the extent to which individuals who are regarded as being leader whether formal or informal are able to affect and effect their own version of events. It might be, for instance, that the crucial difference between leadership and non-leadership does not lie in the particular act or process, but in the ability of some individual to prevail over others. Another question comes up: Is leadership rather like history just the acts of victors? It may even be that acts of Deep Leadership are indeed identical at all levels but only formally recognized where they oincide with formal authority. Or alternatively, it may be that leadership styles and processes do differ between the levels of hierarchy so that there are qualitative differences between the leadership in the shop-floor and the leadership in the boardroom. </span></div> <div style="text-align: justify;"> <span style="font-size: 9.5pt; line-height: 115%;"> <i>(Mundul is a Director with Standard Chartered Bank Nepal Ltd)</i></span></div>', 'published' => true, 'created' => '2011-09-01', 'modified' => '0000-00-00', 'keywords' => '', 'description' => 'When considering management in the decade of 1990s, three important observations could be made: The massive efforts made to change the way organizations operate, the astonishing......', 'sortorder' => '305', '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
