April 21: Bank (NRB) has issued a public notice stating the transaction of the fourth edition of Riyal, the currency of Qatar, will not be allowed after May 10.…
April 21: Bank (NRB) has issued a public notice stating the transaction of the fourth edition of Riyal, the currency of Qatar, will not be allowed after May 10.…
April 20: The Melamachi Water Supply Project (MWSP) has finally started distributing water at full capacity of 170 million liters per day in the Kathmandu Valley from…
April 20: The Department of Electricity Development (DOED) has so far issued permits for the development of 17 solar plants.…
April 20: Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to provide uninterrupted service by adopting safety measures against the second wave of Covid-19…
April 20: The Airline Operators' Association of Nepal (AAON) has increased the airfare of all domestic flights following the rise in price of aviation fuel.…
April 20: The government has issued new directives to contain Covid-19 pandemic following a surge in the rate of infection across the country.…
April 19: As the second wave of the coronavirus is spreading across the globe, industries that produce sacks in Nepal have been facing shortage of raw…
April 19: Due to recent surge in COVID-19 cases in India and its impact on import business, the automobile business in Nepal has come to a “complete halt” this year.…
April 19: Buddha Air, a leading private airlines company in Nepal, has decided to operate inter-province flights from its base in…
April 19: Information, Communication and Technology (ICT) sector has been contributing Rs 77.16 billion to the Gross Domestic Product (GDP) of the country, according to the Central Bureau of Statistics…
April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra…
April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year.…
April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional…
April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals.…
April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country.…
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">April 21: Bank (NRB) has issued a public notice stating the transaction of the fourth edition of Riyal, the currency of Qatar, will not be allowed after May 10. The central bank has also urged the concerned parties and individuals to convert Riyal from the Banking Department of NRB before May 10. </span><br /> <span style="font-family:Times">The NRB made such appeal following a decision by the central bank of Qatar to demonetize its old currency notes effective from July 1. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The banknotes can also be exchanged from licensed banks and financial institutions as well as licensed money changers dealing in convertible foreign currency, added the statement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">A large number of Nepali migrant workers are employed in Qatar and therefore the central bank has issued the notice for the convenience of the workers.</span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-21', 'modified' => '2021-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '13047', 'image' => '20210421122523_Buy-Qatari-Riyal-Online.jpeg', 'article_date' => '2021-04-21 12:23:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13301', 'article_category_id' => '1', 'title' => 'Melamchi Project Starts Distributing Water at Full Capacity', 'sub_title' => '', 'summary' => 'April 20: The Melamachi Water Supply Project (MWSP) has finally started distributing water at full capacity of 170 million liters per day in the Kathmandu Valley from Monday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 20: The Melamachi Water Supply Project (MWSP) has finally started distributing water at full capacity of 170 million liters per day in the Kathmandu Valley from Monday. This is the first time in three weeks since the distribution of water from Melamchi that the project has started distributing at full capacity. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Issuing a press release, Melamchi Drinking Water Development Committee (MDWDC) informed that water from Sundarijal has come to Kathmandu at full capacity. Although the distribution of water begun from March 28, the distribution of water started at full capacity only from April 19. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">From now on, 250 million liters of water will be distributed daily in the Kathmandu Valley. Apart from 170 million liters of water from Melamchi, the project has been producing 80 million liters of water internally through deep tube well.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">During the testing phase, the project had distributed 80 million liters of water which was gradually increased by operating both of the water processing centers in Sundarijal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Melamchi water had arrived in Sundarijal on February 22 during the test phase. The water was processed in Sundarijal and was available for distribution partially. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The MWSP expects to end the acute water shortage problem of the valley. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13046', 'image' => '20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-04-20 16:12:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13300', 'article_category_id' => '1', 'title' => '17 Solar Plants Receive Permits for Generating Energy in Nepal', 'sub_title' => '', 'summary' => 'April 20: The Department of Electricity Development (DOED) has so far issued permits for the development of 17 solar plants. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 20: The Department of Electricity Development (DOED) has so far issued permits for the development of 17 solar plants. It has given permission to construct 17 solar plants with the capacity to produce 110.47 MW of energy. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The department had given approval for the construction of Butwal Solar Plant in 2019. Rihi Hydropower Company was the first to receive the permission from the department to set up Butwal Solar Plant in the country. Since then, other 16 solar plants have received permits for the construction.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Among the recipients of the permits, majority of the companies are privately owned. Nepal Electricity Authority (NEA) had got the permit to build three solar plants with a capacity to produce 14.77 MW of energy each. Besides the NEA, all others are private companies. NEA is building 25 MW of solar plant in Nuwakot. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Though 17 solar projects have got a green signal to start the construction from the department, only three solar plants have come into operation so far. The 10MW Mithila Solar Plant, 8.5 MW Butwal Solar Plant and 11 MW Solar Plant of NEA are currently in operation. Meanwhile, a 0.68 MW plant of Kathmandu Valley Drinking Water Limited and 1MW plant of Surya Power Company in Nawalparasi are also already in operation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Chandranighapur Surya Project with the capacity of 4MW built by API Power Company will come online within this month. Electricity generated from this project will be connected to NEA’s 33KV transmission line.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Nabin Raj Singh, Director General of DOED, said the solar plant license is valid for 25 years. After that, the plant’s ownership is shifted to the government. He said lately, energy entrepreneurs are attracted to solar energy. It is cheaper to construct solar plant than hydropower plants while the Power Purchase Agreement (PPA) rate is also high.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">However the challenge in the construction of solar plants. They can’t be built anywhere and the land rent is quite high. On top of that, access to transmission line is not available everywhere. Yet, attraction towards solar plants is encouraging. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13045', 'image' => '20210420035841_solar-syst.jpg', 'article_date' => '2021-04-20 15:57:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13299', 'article_category_id' => '1', 'title' => 'NRB Directs Banks to Stay Highly Alert Against Covid-19', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to provide uninterrupted service by adopting safety measures against the second wave of Covid-19 infection.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">April 20: Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to provide uninterrupted service by adopting safety measures against the second wave of Covid-19 infection. The central bank issued a notice on Monday, April 19, instructing banks to be cautious about the spreading of infection.<br /> <br /> NRB has directed the banks to follow the health safety protocols of issued by the Government of Nepal and the World Health Organization to reduce the risk of virus transmission among bank employees and customers. The central bank has asked the BFIs to provide service to the customers by being cautious and maintaining physical distance. The central bank has suggested BFIs to provide electronic service as much as possible.<br /> <br /> Banks also have been requested to provide sanitizers and tissue paper at ATMs and maintain proper ventilation to reduce the risk of infection from their ATM booths. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Likewise, NRB has directed the banks to ensure physical distance and conduct programs such as meetings, seminars, and training virtually. NRB also suggests taking measures such as remote access, work from home, working in shifts as per the need.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">NRB has also directed banks to update their contingency plan with a detailed action plan. The central bank has urged BFIs to follow the previous instructions on health protocol.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13044', 'image' => '20210420034241_20201106055408_Nepal_Rastra_Bank2.jpg', 'article_date' => '2021-04-20 15:42:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13298', 'article_category_id' => '1', 'title' => 'Airline Operators Hike Domestic Airfare', 'sub_title' => '', 'summary' => 'April 20: The Airline Operators' Association of Nepal (AAON) has increased the airfare of all domestic flights following the rise in price of aviation fuel. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 20: The Airline Operators' Association of Nepal (AAON) has increased the airfare of all domestic flights following the rise in price of aviation fuel. The new airfare has come into effect from April 20.<br /> Nepal Oil Corporation (NOC) had raised the price of aviation fuel by Rs 2. Earlier, the price of aviation was Rs 74 per liter. It has now been fixed at Rs 76 per liter.<br /> The AAON has fixed the new price by adjusting the fuel surcharge for flights in various sectors across the country.<br /> According to a press release issued by the association on April 19, the airfare of Kathmandu-Dhangadhi flight has grown by Rs 85 per ticket. Likewise, airfare of Doti-Sanfebgar has been raised by Rs 10 ticket.<br /> The fare of the Kathmandu-Bhairahawa route has been raised by Rs 45, and the Kathmandu-Nepalgunj route by Rs 65. Likewise, the airfare of Kathmandu-Biratnagar flights has been increased by Rs 50 per ticket and Kathmandu-Simara flights by Rs 15.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Likewise, airline companies have also increased the airfare of mountain flights. Airfare of mountain flights from Kathmandu and Pokhara has grown by Rs. 65 per ticket each.<br /> Earlier, the association had fixed the new fare on March 20. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13043', 'image' => '20210420015427_20201108022005_Reviving Nepali Aviation Sector Amid Pandemic_2.jpg', 'article_date' => '2021-04-20 13:53:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13297', 'article_category_id' => '1', 'title' => 'Government Issues Fresh Directives to Contain COVID-19 ', 'sub_title' => '', 'summary' => 'April 20: The government has issued new directives to contain Covid-19 pandemic following a surge in the rate of infection across the country. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 20: The government has issued new directives to contain Covid-19 pandemic following a surge in the rate of infection across the country. The government adopted new measures after more than 1000 cases of daily infection were reported in recent days.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">A meeting of the Council of Ministers on Monday (April 19) issued such directive in accordance to Clause (2) of the Infectious Disease Control Act, 1964. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the decision, the government has ordered people not to gather in large number and has also instructed the concerned authorities to strictly monitor cross-border movement.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Likewise, the government has imposed a ban on cinema halls, party palaces, dance clubs and bars, health clubs, gyms, swimming pools, futsal, stadium and all types of public gatherings. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Unveiling the decisions taken by the cabinet, Government Spokesperson and Minister for Communications and Information Technology Parbat Gurung said that schools, training centres and academic institutions have been instructed to run their classes virtually until mid-May in major cities. However, the government has given green signal to continue the prescheduled examinations of schools and colleges and all the practical examinations by adopting health safety measures. </span><br /> <span style="font-family:"Arial Unicode MS"">Public vehicles have been ordered not to carry passengers more than their capacity. Only a limited number of passengers are allowed to travel on public vehicles on the basis of the vehicles' seating capacity. It is also mandatory to use of face mask and hand sanitizer for passengers, drivers and helpers of the vehicles. As per the cabinet decision, the public vehicles should be disinfected every day. Any passenger found not wearing masks will be fined Rs 10 for the violation. <br /> Likewise, the hotels and restaurants will be allowed to operate only from 8:00 am to 8:00 pm by applying health precautions and should provide home delivery service beyond the time fixed by the government.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The government has also restricted the gathering of more than 25 people in temples, mosques, monastery and churches, and other religious functions. Furthermore, prior approval from the local administration is expected for conducting social and religious functions at party palaces. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13042', 'image' => '20210420111424_20210416115657_1618526412.12.jpg', 'article_date' => '2021-04-20 11:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13296', 'article_category_id' => '1', 'title' => 'Production of Sack Industry Declines due to Lack of Raw Materials', 'sub_title' => '', 'summary' => 'April 19: As the second wave of the coronavirus is spreading across the globe, industries that produce sacks in Nepal have been facing shortage of raw materials.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">April 19: As the second wave of the coronavirus is spreading across the globe, industries that produce sacks in Nepal have been facing shortage of raw materials. Due to the lack of raw materials, the production capacity of these industries has been declining.<br /> There are around two dozen industries that produce sacks made of plastic, jute, and clothes in Nepal. The industries provide these bags to various factories such as the ones that produce grains and cement among others. At present, all these industries are facing shortage of raw materials. This has reduced the production capacity of all the industries by almost 50 percent.<br /> Sudip Jaiswal, proprietor of Pashupati Seal Pack Industry in Biratnagar, said that his industry has been facing problems in production of bags for the past two months due to lack of polypropylene. Nepal imports such raw materials from countries like Saudi Arabia, Malaysia, and India.<br /> He said that there is a problem in importing raw materials due to the increasing rate of coronavirus infection in those countries in recent days. "First of all, even if there is no problem in getting the raw materials, it takes months to reach Nepal due to the delay in shipment," he said.<br /> Due to the shortage of raw material and lengthy import process, the price of sacks has gone up in the country. According to industrialists, the production cost has risen by 25 percent this year compared to last year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The price of sacks used for packing cement has gone up to Rs 19 from Rs 13. About 30 percent of the workers in such industries have lost their jobs due to the decline in production capacity.<br /> According to Nikhil Todi, proprietor of Shivam Plastic Industries, Nepali sack industries produce 5,000 metric tonnes of sacks per month. Of them, 40 percent of the bags are consumed in Nepal's domestic market, and the remaining 60 percent are exported to other countries, including India.<br /> Due to the decline in production capacity, the export market of these industries has also become uncertain. Likewise, due to the fall in production of sacks, industries that produce rice, pulses, flour, and cement have been facing shortage of bags, according to the industrialists.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13041', 'image' => '20210419044539_white-rice-sack-bag-isolated-260nw-709147009.jpg', 'article_date' => '2021-04-19 16:44:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13295', 'article_category_id' => '1', 'title' => 'Automobile Business Comes to a ‘Grinding Halt’', 'sub_title' => '', 'summary' => 'April 19: Due to recent surge in COVID-19 cases in India and its impact on import business, the automobile business in Nepal has come to a “complete halt” this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 19: Due to recent surge in COVID-19 cases in India and its impact on import business, the automobile business in Nepal has come to a “complete halt” this year. Entrepreneurs had expected that the auto business would gain momentum after the lockdown and restrictions were lifted but the sale has not been much encouraging. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The biggest auto sales take place in the country during the Nada Auto Show, which is held just before the Dashain festival. After that, New Year also contributes to major auto sales. Until two years ago, new models of vehicles used to be introduced in the country by mid-February. In the last two years, no such enthusiasm has been witnessed in the automobile industry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Sunil Rijal, General Secretary of Nepal Automobiles Dealers Association (NADA), said sales of auto have not been encouraging due to lack of enough supply to meet the increasing demand. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nevertheless, auto sales affected since last year due to the outbreak of COVID-19 is picking up. Similarly, banks’ higher capacity of lending has also led to a higher demand for automobiles. “However, the volume of sales has not increased due to the obstruction in supply chain. There is high demand for vehicles because of less volume of import,” Rijal said, adding that the demand for vehicles has not gone up despite revival of economic activities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Traders say that customers are more attracted towards private vehicles in the wake of Covid-19. There has not been any demand for public buses since the outbreak. Car brands like Suzuki, Tata, Mahindra, Hyundai among others have high demand but traders haven’t been able to import these brands on time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Owner of Naryani Automobiles and Secretary of NADA Anup Kumar Baral said the delivery of old bookings for vehicles have gradually started. “If the automobile industry in India remains unaffected due to this new wave of coronavirus, we are hopeful that sales will pick up pace from this year,” he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nepal’s automobile sector is dependent on Indian market. Most of the vehicle parts manufactured in India are imported from China. According to Indian media, rising conflict between India and China has led to shortage of vehicles parts in India. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13040', 'image' => '20210419042043_20150914010543_travel-map.jpg', 'article_date' => '2021-04-19 16:20:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13294', 'article_category_id' => '1', 'title' => 'Buddha Air to Operate Inter-Province Flights from Pokhara', 'sub_title' => '', 'summary' => 'April 19: Buddha Air, a leading private airlines company in Nepal, has decided to operate inter-province flights from its base in Pokhara.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">April 19: Buddha Air, a leading private airlines company in Nepal, has decided to operate inter-province flights from its base in Pokhara. The company will conduct test flights to four destinations from Gandaki, Lumbini and Bagmati provinces from Pokhara.<br /> Buddha Air will fly from Pokhara to Simara, Biratnagar, Nepalgunj, and from Bharatpur in Bagmati Province to Bhairahawa from Saturday, May 1. The company has been operating regular flights to these destinations from Kathmandu.<br /> The company has also fixed the airfare for the inter-province flights. The airfare for Pokhara-Biratnagar has been fixed between Rs 6,000 to Rs 10,800.<br /> Similarly, the Pokhara-Nepalgunj flight will cost a minimum of Rs 4,500 to a maximum of Rs 7,200. The airfare of the Pokhara-Simara flight will cost between Rs 4,300 to Rs 6,700, and the Pokhara-Bhairahawa flight will cost a minimum of Rs 3,100 to a maximum of Rs 3,900.<br /> Likewise, airfare for Tumlingtar-Biratganagar will vary from Rs 2,500 to Rs 3,200 and Rs 2,500 to Rs 4,000 for the Bhairahawa-Bharatpur flight.<br /> The fare is based on the operating cost of ATR-72, said Birendra Bahadur Basnet, managing director of the company.<br /> However, the company informed that the flight to these destinations will start from May 1 by operating Beachcraft. The company has demanded that the provincial government and the federal government provide special facilities for inter-province flights.<br /> Basnet informed that the airline company is planning to buy an additional aircraft by May 15. Pokhara is the second-largest city after Kathmandu, and Buddha Air has adopted a strategy to make it a base for domestic flights.<br /> Basnet informed that the company has been following 'Safety Guidelines against Covid-19' since the outbreak of the pandemic. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13039', 'image' => '20210419032057_20210122113025_20200323123412_aaa.jpg', 'article_date' => '2021-04-19 15:20:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13293', 'article_category_id' => '1', 'title' => 'ICT Sector Contributes 77.16 Million to Nepal's GDP', 'sub_title' => '', 'summary' => 'April 19: Information, Communication and Technology (ICT) sector has been contributing Rs 77.16 billion to the Gross Domestic Product (GDP) of the country, according to the Central Bureau of Statistics (CBS).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 19: Information, Communication and Technology (ICT) sector has been contributing Rs 77.16 billion to the Gross Domestic Product (GDP) of the country, according to the Central Bureau of Statistics (CBS).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In an interaction held on Saturday by the Society of Economic Journalists of Nepal (SEJON) on the ‘Role of telecom sector in GDP’, Ishwori Bhandari, Director of CBS, said the contribution of ICT to GDP stands at Rs 77.16 billion. This accounts for 2.22 percent of the total GDP of the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to CBS, in the fiscal year 2019/20, broadcasting sector contributed 0.48 percent, telecommunication sector contributed 1.47 percent and ICT contributed to 2.22 percent to the GDP. In the program, Prof. Dr. Pushparaj Kandel, Vice Chairman of the National Planning Commission said the contribution of this sector to the GDP is something to be proud of so ICT sector should also be developed as an industry. He said that ICT has been referred to as the driving force of economy in the 15<sup>th</sup> Plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"> Minister for Finance Bishnu Poudel said more improvements are necessary in the ICT sector to develop the country digitally and it will be prioritized in next year’s budget. The telecom sector of the country earns Rs 100 billion annually and provides employment to around 60,000 people. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13038', 'image' => '20210419022050_ict.jpg', 'article_date' => '2021-04-19 14:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13292', 'article_category_id' => '1', 'title' => 'Insurance Board to Seek Clarification from Agrawal', 'sub_title' => '', 'summary' => 'April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal, who has been suspended from his post for investing in the share market against the investment guidelines set by the board. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">The Insurance Board, the regulatory body of insurance companies in Nepal, had suspended Agrawal from the board member of the company last Friday (April 16).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Executive Director of Insurance Board, Raju Raman Poudel, confirmed that the board is making preparations to seek clarification from Agrawal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“We had temporarily removed him from the company’s board a few days ago for investing in the share market by breaching the investment guidelines. Now we will soon seek clarification from him,” Poudel told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“If we do not get a satisfactory answer, we can initiate the process to relieve him off his duties,” added Poudel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">During a field inspection, the Insurance Board found that the company had made investment against the Investment Guidelines 2075. The board decided to take action accordingly. Agrawal is not only a board member of the company but also the coordinator of the investment committee of the company. The Investment Board has concluded that the insurance company was involved in fraudulent investment at the behest of Agrawal.</span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13037', 'image' => '20210419093930_20200825040928_bima_samiti.jpg', 'article_date' => '2021-04-19 09:38:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13291', 'article_category_id' => '1', 'title' => 'Govt to Unveil New Programmes in Agriculture ', 'sub_title' => '', 'summary' => 'April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">During a programme organised at the ministry to discuss about the budget as well as policies and programmes for the upcoming fiscal year 2021/22, Minister Aryal said that some programmes in agriculture and animal husbandry sector could not be continued but new programmes would be run in an efficient way, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, parliamentarians present at the programme laid emphasis on enhancing production and use of organic fertilizer. They also demanded subsidy in agriculture. </span><br /> <span style="font-family:"Arial Unicode MS"">The MPs also drew the attention of the government to reduce risk from possible disaster and to make arrangements for distributing budget amount only from the local levels and ensure effective insurance scheme in agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS"">Lawmakers Khagaraj Adhikari, Bidya Bhattarai, Sujita Shakya, Maya Gyawali, Shanti Pakhrin, Komal Oli, Thammaya Thapa Magar and Dal Bahadur Rana were present on the occasion. </span></span></span></p> <p><span style="font-size:16px"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai.jpg" style="height:723px; width:800px" /></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13036', 'image' => '20210419091906_20201109032251_Clipboard02.jpg', 'article_date' => '2021-04-19 09:18:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13290', 'article_category_id' => '1', 'title' => 'Banks Demand Collateral Even for Concessional Loans', 'sub_title' => '', 'summary' => 'April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan. Bank and Financial Institutions (BFIs) have only disbursed 1.8 percent of the total concessional loan issued for agriculture at a subsidized interest rate of 5 percent as of mid-February. According to Nepal Rastra Bank, a total of Rs 88.29 billion have been distributed under the concessional loan category. Out of this, only Rs 1.60 billion have been distributed without collateral. The remaining Rs 86.69 billion has been disbursed by keeping collateral.<br /> As of mid-February, 38,355 people have benefited from the commercial farming and livestock loans at subsidized rate. A total of 2,542 people took such loans in between mid-January to mid-February. Although the credit flow without collateral is low, the number of borrowers and the total credit flow to the agricultural sector has increased.<br /> Government-owned banks are in the forefront in providing agricultural loans without any collateral. Agriculture Development Bank is in the top list of banks providing such loans. Out of the total loan of Rs 1.60 billion disbursed by banks without any collateral, the Agriculture Development Bank alone has released more than Rs 1 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times"> Hemal Poudyal, the spokesperson of Agriculture Development Bank, said that the bank disbursed between Rs 500,000 to Rs 1.5 million to around 1,600 people without collateral. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"As it is a state program, we have given collateral-free loans even if there is risk of loss," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">There is an arrangement for BFIs to allocate loans of Rs 300,000 to Rs 50 million under various headings. Banks can give up to Rs 50 million of such loans to the agriculture sector. Chairman of Nepal Bankers' Association Bhuvan Kumar Dahal informed that those who do not want to pay the loan or cannot do so often do not have collateral.<br /> Manoj Gyawali, Deputy General Manager of Nabil Bank, admits that it is natural for the banks not to disburse loans without collateral.<br /> "Banks do not want to risk their investment by disbursing loans without collateral," he said. "According to the NRB's provision, each branch of commercial banks has to give ten concessional loans, that is 500 loans per year," said Gyawali. Banks try to provide such loans on collateral. He said that the central bank has not barred them from keeping collateral for providing concessional loans.<br /> As of mid-February, BFIs have disbursed concessional loans to 77,198 borrowers under ten headings. Banks are yet to recover Rs 124.28 billion from the borrowers. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Apart from agriculture and livestock loans, BFIs have allocated most of the loans to women entrepreneurs. Banks have been providing concessional loans to women entrepreneurs at a subsidized interest rate of 6 percent.<br /> By mid-February, the number of women entrepreneurs taking women entrepreneurship loans from banks and financial institutions has reached 36,763. The NRB informed that loans amounting to Rs 32.95 billion have been disbursed during this period. In January, the number of such debtors was 30,465. During this period, loans amounting to Rs 27.05 billion was released.<br /> Under the concessional loan for education, 132 people have received Rs 61 million in the first eight months of the current fiscal year.<br /> Bankers argue that it is risky to give loans to young students by keeping their certificates as collateral.<br /> Under the heading of youth project loans for returnee migrant workers, 671 people are yet to pay back Rs 513.7 million. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Likewise, BFIs have released loans under the Dalit Community Business Development Loan to 733 individuals. The debt stands at Rs 456 million.<br /> So far, 88 people have received loans under higher education and technical and vocational education loans. There arrears is Rs 33.3 million. The flow of loan under this category has not increased encouragingly since January.<br /> The number of earthquake victims who have taken loans to build private houses has also increased.<br /> The number of such debtors has increased from 238 in January to 237 in February.<br /> Likewise, 205 industrialists have availed the concessional loan given by the government to promote the textile industries. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13035', 'image' => '20210418070636_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-04-18 19:05:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13289', 'article_category_id' => '1', 'title' => 'Contributors to SSF to get Discount on Treatment at Hospitals ', 'sub_title' => '', 'summary' => 'April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. SSF is making necessary preparations to provide discount on treatment at the hospitals from July to make the social security programme more effective. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to the SSF, until now contributors used to get the payment claims only after submitting necessary bills. After receiving complaints that this process is full of hassles, SSF has made all required preparations to provide 80 percent discount on the treatment at the hospital itself. Once this service is available, contributors to SSF will have to pay only 20 percent for the treatment that costs up to Rs 100,000.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kapil Mani Gyawali, executive director of the SSF said, “Contributors need not visit SSF office to claim the treatment amount. We are working to provide this facility directly from the hospital.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to him, SSF is in the process of signing agreements with the hospitals to this end. So far, agreements have been signed with about 105 hospitals in the provinces, including Kathmandu Valley. SSF has signed agreements with twenty hospitals in Province 1, sixteen in Province 2, twenty in Bagmati Province, eight in Gandaki Province, fourteen in Lumbini Province, ten in Karnali Province and seventeen in the Sudur Paschim Province. The list also includes TU Teaching Hospital and Bir Hospital of Kathmandu valley. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">SSF had planned to sign agreements with at least ten hospitals in each province. But it has exceeded its target under this plan. “We are planning to bring hospitals across the country under this plan and start giving service from July if the second wave of cornonavirus doesn’t affect this process,” said Gyawali.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Hospitals that have signed agreement with the SSF get the discount payment provided to contributors after they makes the claims with the SSF. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, SSF is making its programmes reasonable and practical to attract more employees. SSF which came into operation from 27<sup>th</sup> November, 2018 has 13,800 contributors. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13034', 'image' => '20210418023111_20191104101107_20190129043642_a.jpg', 'article_date' => '2021-04-18 14:30:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13288', 'article_category_id' => '1', 'title' => 'Digital Transformation Requires Stepped-Up Security Measures ', 'sub_title' => '', 'summary' => 'April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. A huge chunk of population has started doing digital transactions following the lockdown that restricted physical movement. There has been a sharp rise in the number of transactions done through electronic and internet platforms. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In the month of Shrawan 2077 (mid July/mid Aug 2020), transaction worth Rs 18.39 billion took place through mobile banking. Number of such transactions has increased to Rs 40.35 billion in the month of Chaitra (mid Feb/mid March). Likewise, transactions worth Rs 51.3 billion were done through connectIPS in the month of Shrawan (mid July/mid Aug) which went up to Rs 110 billion in the month of Chaitra (mid Feb/mid March).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The growth in the digital transactions is positive news for all the electronic service providers but with this growth also comes digital risks like data loss, identity theft, and financial loss. In this context, Rebati Adhikari of New Business Age talked with Prabesh Poudel, Information Security Officer (ISO) at Nabil Bank to seek his views on importance of digital security in banking sector. Excerpts:</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">With increase in digital banking, how important is digital security? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Today, in one form or another, every bank is on the path to digital transformations, with digital payments moving ahead at high speed. But a</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">t the same time, in the lack of proper security controls in place, there are chances that banks could suffer major service failures due to their inability to manage digital risk. So, while we talk about digital transformation, security transformation cannot be left behind but must go hand in hand. </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In this new digital world, the implementation of new digital technology not only requires system implementation but also requires focus on areas related to digital security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of security measures banks should employ to ensure digital security?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">A complete security strategy has to be in place to protect information assets. Security has to be looked from different aspects such as secured technology infrastructure, on-going security assessment, on-going security monitoring and most importantly security culture. All these have to be guided by strong policies and procedures. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Threat actors have shifted efforts to target end users by exploiting user behavior by misleading users into opening and executing a malicious file, going to a malicious site or handing over information, typically using lures which create urgency (eg lottery payment) or leverage current crises and events (eg covid fund).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So in this scenario, one of the challenging things in today’s context specially in the case of Nepal is security awareness. So, only secured system will not help in strengthening information security, but user awareness is as important as that. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Is banking sector experiencing more risks from mobile banking apps? What should be done to minimize it? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security threats exist everywhere be it traditional banking or modern banking with digital channels, but how you take the precautions is something that plays the major role.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Yes, with a mobile app there are potential vulnerabilities related to the security of the app itself, vulnerabilities in code and also potential vulnerabilities related to the transmission of information. In addition, threats coming from unawareness of the consumers is even more critical. There have been instances in Nepal in which mobile banking users are found to have shared their password/OTP with fraudsters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So to list some of the preventive measures, before installing any mobile app, complete vendor assessment ie assessment of technology service provider is very important. This should be followed by VAPT (Vulnerability Assessment and Penetration Testing) of system itself to ensure system is secured before LIVE implementation. But it does not end here because security is an on-going process as new threats are evolving day by day, so an on-going security assessment, security monitoring, security awareness to consumers is a must. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can use a security awareness training program to educate their employees as well as customers about the importance of data security. Say for example when Multi Factor Authentication is implemented in any system, customers should also be aware of its importance so that he doesn’t share password/OTP with anyone with wrong intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So, it’s no longer about just the individual components of security framework. Focus must be on how they are orchestrated to build a more effective security posture.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of mechanism should bank set up to monitor/respond to cyber threats? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security monitoring is one of the important components of information security and the best way to do is by establishment of Security Operations Centre (SOC), which includes a team of security experts and the facility in which they dedicate themselves entirely for monitoring, analyzing and reporting information. A SOC team monitors cyber security threats on the basis of logs from various critical system 24/7 and detects and responds to any security incidents it oversees and then alerts the bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can establish SOC in-house with their own team or may outsource it to professional and reliable third-party. There are multiple companies in Nepal that have been providing ‘Managed SOC’ service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of significance information security audit holds?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Information security audit will help in comprehensive assessment of a bank’s information system and can help identify system weakness and vulnerabilities in IT infrastructure. In addition, it also verifies the bank’s policies and procedures, security controls, ensures regulatory compliance and many more.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Such audit will definitely help in continual improvement of security posture of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, the most important thing while conducting such external audit is to ensure such audit firm comprises of professional team with enough experience, expertise and standard certification like CISA/ISO 27001 etc for conducting information security audit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13033', 'image' => '20210418021204_iStock-514571236-768x508.jpg', 'article_date' => '2021-04-18 14:10:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $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' => '13302', 'article_category_id' => '1', 'title' => 'NRB Urges Concerned Parties to Exchange Qatar’s Currency before May 10 ', 'sub_title' => '', 'summary' => 'April 21: Bank (NRB) has issued a public notice stating the transaction of the fourth edition of Riyal, the currency of Qatar, will not be allowed after May 10. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">April 21: Bank (NRB) has issued a public notice stating the transaction of the fourth edition of Riyal, the currency of Qatar, will not be allowed after May 10. The central bank has also urged the concerned parties and individuals to convert Riyal from the Banking Department of NRB before May 10. </span><br /> <span style="font-family:Times">The NRB made such appeal following a decision by the central bank of Qatar to demonetize its old currency notes effective from July 1. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The banknotes can also be exchanged from licensed banks and financial institutions as well as licensed money changers dealing in convertible foreign currency, added the statement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">A large number of Nepali migrant workers are employed in Qatar and therefore the central bank has issued the notice for the convenience of the workers.</span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-21', 'modified' => '2021-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '13047', 'image' => '20210421122523_Buy-Qatari-Riyal-Online.jpeg', 'article_date' => '2021-04-21 12:23:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13301', 'article_category_id' => '1', 'title' => 'Melamchi Project Starts Distributing Water at Full Capacity', 'sub_title' => '', 'summary' => 'April 20: The Melamachi Water Supply Project (MWSP) has finally started distributing water at full capacity of 170 million liters per day in the Kathmandu Valley from Monday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 20: The Melamachi Water Supply Project (MWSP) has finally started distributing water at full capacity of 170 million liters per day in the Kathmandu Valley from Monday. This is the first time in three weeks since the distribution of water from Melamchi that the project has started distributing at full capacity. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Issuing a press release, Melamchi Drinking Water Development Committee (MDWDC) informed that water from Sundarijal has come to Kathmandu at full capacity. Although the distribution of water begun from March 28, the distribution of water started at full capacity only from April 19. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">From now on, 250 million liters of water will be distributed daily in the Kathmandu Valley. Apart from 170 million liters of water from Melamchi, the project has been producing 80 million liters of water internally through deep tube well.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">During the testing phase, the project had distributed 80 million liters of water which was gradually increased by operating both of the water processing centers in Sundarijal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Melamchi water had arrived in Sundarijal on February 22 during the test phase. The water was processed in Sundarijal and was available for distribution partially. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The MWSP expects to end the acute water shortage problem of the valley. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13046', 'image' => '20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-04-20 16:12:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13300', 'article_category_id' => '1', 'title' => '17 Solar Plants Receive Permits for Generating Energy in Nepal', 'sub_title' => '', 'summary' => 'April 20: The Department of Electricity Development (DOED) has so far issued permits for the development of 17 solar plants. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 20: The Department of Electricity Development (DOED) has so far issued permits for the development of 17 solar plants. It has given permission to construct 17 solar plants with the capacity to produce 110.47 MW of energy. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The department had given approval for the construction of Butwal Solar Plant in 2019. Rihi Hydropower Company was the first to receive the permission from the department to set up Butwal Solar Plant in the country. Since then, other 16 solar plants have received permits for the construction.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Among the recipients of the permits, majority of the companies are privately owned. Nepal Electricity Authority (NEA) had got the permit to build three solar plants with a capacity to produce 14.77 MW of energy each. Besides the NEA, all others are private companies. NEA is building 25 MW of solar plant in Nuwakot. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Though 17 solar projects have got a green signal to start the construction from the department, only three solar plants have come into operation so far. The 10MW Mithila Solar Plant, 8.5 MW Butwal Solar Plant and 11 MW Solar Plant of NEA are currently in operation. Meanwhile, a 0.68 MW plant of Kathmandu Valley Drinking Water Limited and 1MW plant of Surya Power Company in Nawalparasi are also already in operation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Chandranighapur Surya Project with the capacity of 4MW built by API Power Company will come online within this month. Electricity generated from this project will be connected to NEA’s 33KV transmission line.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Nabin Raj Singh, Director General of DOED, said the solar plant license is valid for 25 years. After that, the plant’s ownership is shifted to the government. He said lately, energy entrepreneurs are attracted to solar energy. It is cheaper to construct solar plant than hydropower plants while the Power Purchase Agreement (PPA) rate is also high.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">However the challenge in the construction of solar plants. They can’t be built anywhere and the land rent is quite high. On top of that, access to transmission line is not available everywhere. Yet, attraction towards solar plants is encouraging. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13045', 'image' => '20210420035841_solar-syst.jpg', 'article_date' => '2021-04-20 15:57:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13299', 'article_category_id' => '1', 'title' => 'NRB Directs Banks to Stay Highly Alert Against Covid-19', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to provide uninterrupted service by adopting safety measures against the second wave of Covid-19 infection.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">April 20: Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to provide uninterrupted service by adopting safety measures against the second wave of Covid-19 infection. The central bank issued a notice on Monday, April 19, instructing banks to be cautious about the spreading of infection.<br /> <br /> NRB has directed the banks to follow the health safety protocols of issued by the Government of Nepal and the World Health Organization to reduce the risk of virus transmission among bank employees and customers. The central bank has asked the BFIs to provide service to the customers by being cautious and maintaining physical distance. The central bank has suggested BFIs to provide electronic service as much as possible.<br /> <br /> Banks also have been requested to provide sanitizers and tissue paper at ATMs and maintain proper ventilation to reduce the risk of infection from their ATM booths. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Likewise, NRB has directed the banks to ensure physical distance and conduct programs such as meetings, seminars, and training virtually. NRB also suggests taking measures such as remote access, work from home, working in shifts as per the need.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">NRB has also directed banks to update their contingency plan with a detailed action plan. The central bank has urged BFIs to follow the previous instructions on health protocol.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13044', 'image' => '20210420034241_20201106055408_Nepal_Rastra_Bank2.jpg', 'article_date' => '2021-04-20 15:42:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13298', 'article_category_id' => '1', 'title' => 'Airline Operators Hike Domestic Airfare', 'sub_title' => '', 'summary' => 'April 20: The Airline Operators' Association of Nepal (AAON) has increased the airfare of all domestic flights following the rise in price of aviation fuel. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 20: The Airline Operators' Association of Nepal (AAON) has increased the airfare of all domestic flights following the rise in price of aviation fuel. The new airfare has come into effect from April 20.<br /> Nepal Oil Corporation (NOC) had raised the price of aviation fuel by Rs 2. Earlier, the price of aviation was Rs 74 per liter. It has now been fixed at Rs 76 per liter.<br /> The AAON has fixed the new price by adjusting the fuel surcharge for flights in various sectors across the country.<br /> According to a press release issued by the association on April 19, the airfare of Kathmandu-Dhangadhi flight has grown by Rs 85 per ticket. Likewise, airfare of Doti-Sanfebgar has been raised by Rs 10 ticket.<br /> The fare of the Kathmandu-Bhairahawa route has been raised by Rs 45, and the Kathmandu-Nepalgunj route by Rs 65. Likewise, the airfare of Kathmandu-Biratnagar flights has been increased by Rs 50 per ticket and Kathmandu-Simara flights by Rs 15.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Likewise, airline companies have also increased the airfare of mountain flights. Airfare of mountain flights from Kathmandu and Pokhara has grown by Rs. 65 per ticket each.<br /> Earlier, the association had fixed the new fare on March 20. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13043', 'image' => '20210420015427_20201108022005_Reviving Nepali Aviation Sector Amid Pandemic_2.jpg', 'article_date' => '2021-04-20 13:53:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13297', 'article_category_id' => '1', 'title' => 'Government Issues Fresh Directives to Contain COVID-19 ', 'sub_title' => '', 'summary' => 'April 20: The government has issued new directives to contain Covid-19 pandemic following a surge in the rate of infection across the country. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 20: The government has issued new directives to contain Covid-19 pandemic following a surge in the rate of infection across the country. The government adopted new measures after more than 1000 cases of daily infection were reported in recent days.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">A meeting of the Council of Ministers on Monday (April 19) issued such directive in accordance to Clause (2) of the Infectious Disease Control Act, 1964. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the decision, the government has ordered people not to gather in large number and has also instructed the concerned authorities to strictly monitor cross-border movement.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Likewise, the government has imposed a ban on cinema halls, party palaces, dance clubs and bars, health clubs, gyms, swimming pools, futsal, stadium and all types of public gatherings. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Unveiling the decisions taken by the cabinet, Government Spokesperson and Minister for Communications and Information Technology Parbat Gurung said that schools, training centres and academic institutions have been instructed to run their classes virtually until mid-May in major cities. However, the government has given green signal to continue the prescheduled examinations of schools and colleges and all the practical examinations by adopting health safety measures. </span><br /> <span style="font-family:"Arial Unicode MS"">Public vehicles have been ordered not to carry passengers more than their capacity. Only a limited number of passengers are allowed to travel on public vehicles on the basis of the vehicles' seating capacity. It is also mandatory to use of face mask and hand sanitizer for passengers, drivers and helpers of the vehicles. As per the cabinet decision, the public vehicles should be disinfected every day. Any passenger found not wearing masks will be fined Rs 10 for the violation. <br /> Likewise, the hotels and restaurants will be allowed to operate only from 8:00 am to 8:00 pm by applying health precautions and should provide home delivery service beyond the time fixed by the government.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The government has also restricted the gathering of more than 25 people in temples, mosques, monastery and churches, and other religious functions. Furthermore, prior approval from the local administration is expected for conducting social and religious functions at party palaces. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13042', 'image' => '20210420111424_20210416115657_1618526412.12.jpg', 'article_date' => '2021-04-20 11:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13296', 'article_category_id' => '1', 'title' => 'Production of Sack Industry Declines due to Lack of Raw Materials', 'sub_title' => '', 'summary' => 'April 19: As the second wave of the coronavirus is spreading across the globe, industries that produce sacks in Nepal have been facing shortage of raw materials.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">April 19: As the second wave of the coronavirus is spreading across the globe, industries that produce sacks in Nepal have been facing shortage of raw materials. Due to the lack of raw materials, the production capacity of these industries has been declining.<br /> There are around two dozen industries that produce sacks made of plastic, jute, and clothes in Nepal. The industries provide these bags to various factories such as the ones that produce grains and cement among others. At present, all these industries are facing shortage of raw materials. This has reduced the production capacity of all the industries by almost 50 percent.<br /> Sudip Jaiswal, proprietor of Pashupati Seal Pack Industry in Biratnagar, said that his industry has been facing problems in production of bags for the past two months due to lack of polypropylene. Nepal imports such raw materials from countries like Saudi Arabia, Malaysia, and India.<br /> He said that there is a problem in importing raw materials due to the increasing rate of coronavirus infection in those countries in recent days. "First of all, even if there is no problem in getting the raw materials, it takes months to reach Nepal due to the delay in shipment," he said.<br /> Due to the shortage of raw material and lengthy import process, the price of sacks has gone up in the country. According to industrialists, the production cost has risen by 25 percent this year compared to last year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The price of sacks used for packing cement has gone up to Rs 19 from Rs 13. About 30 percent of the workers in such industries have lost their jobs due to the decline in production capacity.<br /> According to Nikhil Todi, proprietor of Shivam Plastic Industries, Nepali sack industries produce 5,000 metric tonnes of sacks per month. Of them, 40 percent of the bags are consumed in Nepal's domestic market, and the remaining 60 percent are exported to other countries, including India.<br /> Due to the decline in production capacity, the export market of these industries has also become uncertain. Likewise, due to the fall in production of sacks, industries that produce rice, pulses, flour, and cement have been facing shortage of bags, according to the industrialists.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13041', 'image' => '20210419044539_white-rice-sack-bag-isolated-260nw-709147009.jpg', 'article_date' => '2021-04-19 16:44:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13295', 'article_category_id' => '1', 'title' => 'Automobile Business Comes to a ‘Grinding Halt’', 'sub_title' => '', 'summary' => 'April 19: Due to recent surge in COVID-19 cases in India and its impact on import business, the automobile business in Nepal has come to a “complete halt” this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 19: Due to recent surge in COVID-19 cases in India and its impact on import business, the automobile business in Nepal has come to a “complete halt” this year. Entrepreneurs had expected that the auto business would gain momentum after the lockdown and restrictions were lifted but the sale has not been much encouraging. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The biggest auto sales take place in the country during the Nada Auto Show, which is held just before the Dashain festival. After that, New Year also contributes to major auto sales. Until two years ago, new models of vehicles used to be introduced in the country by mid-February. In the last two years, no such enthusiasm has been witnessed in the automobile industry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Sunil Rijal, General Secretary of Nepal Automobiles Dealers Association (NADA), said sales of auto have not been encouraging due to lack of enough supply to meet the increasing demand. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nevertheless, auto sales affected since last year due to the outbreak of COVID-19 is picking up. Similarly, banks’ higher capacity of lending has also led to a higher demand for automobiles. “However, the volume of sales has not increased due to the obstruction in supply chain. There is high demand for vehicles because of less volume of import,” Rijal said, adding that the demand for vehicles has not gone up despite revival of economic activities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Traders say that customers are more attracted towards private vehicles in the wake of Covid-19. There has not been any demand for public buses since the outbreak. Car brands like Suzuki, Tata, Mahindra, Hyundai among others have high demand but traders haven’t been able to import these brands on time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Owner of Naryani Automobiles and Secretary of NADA Anup Kumar Baral said the delivery of old bookings for vehicles have gradually started. “If the automobile industry in India remains unaffected due to this new wave of coronavirus, we are hopeful that sales will pick up pace from this year,” he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nepal’s automobile sector is dependent on Indian market. Most of the vehicle parts manufactured in India are imported from China. According to Indian media, rising conflict between India and China has led to shortage of vehicles parts in India. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13040', 'image' => '20210419042043_20150914010543_travel-map.jpg', 'article_date' => '2021-04-19 16:20:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13294', 'article_category_id' => '1', 'title' => 'Buddha Air to Operate Inter-Province Flights from Pokhara', 'sub_title' => '', 'summary' => 'April 19: Buddha Air, a leading private airlines company in Nepal, has decided to operate inter-province flights from its base in Pokhara.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">April 19: Buddha Air, a leading private airlines company in Nepal, has decided to operate inter-province flights from its base in Pokhara. The company will conduct test flights to four destinations from Gandaki, Lumbini and Bagmati provinces from Pokhara.<br /> Buddha Air will fly from Pokhara to Simara, Biratnagar, Nepalgunj, and from Bharatpur in Bagmati Province to Bhairahawa from Saturday, May 1. The company has been operating regular flights to these destinations from Kathmandu.<br /> The company has also fixed the airfare for the inter-province flights. The airfare for Pokhara-Biratnagar has been fixed between Rs 6,000 to Rs 10,800.<br /> Similarly, the Pokhara-Nepalgunj flight will cost a minimum of Rs 4,500 to a maximum of Rs 7,200. The airfare of the Pokhara-Simara flight will cost between Rs 4,300 to Rs 6,700, and the Pokhara-Bhairahawa flight will cost a minimum of Rs 3,100 to a maximum of Rs 3,900.<br /> Likewise, airfare for Tumlingtar-Biratganagar will vary from Rs 2,500 to Rs 3,200 and Rs 2,500 to Rs 4,000 for the Bhairahawa-Bharatpur flight.<br /> The fare is based on the operating cost of ATR-72, said Birendra Bahadur Basnet, managing director of the company.<br /> However, the company informed that the flight to these destinations will start from May 1 by operating Beachcraft. The company has demanded that the provincial government and the federal government provide special facilities for inter-province flights.<br /> Basnet informed that the airline company is planning to buy an additional aircraft by May 15. Pokhara is the second-largest city after Kathmandu, and Buddha Air has adopted a strategy to make it a base for domestic flights.<br /> Basnet informed that the company has been following 'Safety Guidelines against Covid-19' since the outbreak of the pandemic. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13039', 'image' => '20210419032057_20210122113025_20200323123412_aaa.jpg', 'article_date' => '2021-04-19 15:20:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13293', 'article_category_id' => '1', 'title' => 'ICT Sector Contributes 77.16 Million to Nepal's GDP', 'sub_title' => '', 'summary' => 'April 19: Information, Communication and Technology (ICT) sector has been contributing Rs 77.16 billion to the Gross Domestic Product (GDP) of the country, according to the Central Bureau of Statistics (CBS).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 19: Information, Communication and Technology (ICT) sector has been contributing Rs 77.16 billion to the Gross Domestic Product (GDP) of the country, according to the Central Bureau of Statistics (CBS).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In an interaction held on Saturday by the Society of Economic Journalists of Nepal (SEJON) on the ‘Role of telecom sector in GDP’, Ishwori Bhandari, Director of CBS, said the contribution of ICT to GDP stands at Rs 77.16 billion. This accounts for 2.22 percent of the total GDP of the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to CBS, in the fiscal year 2019/20, broadcasting sector contributed 0.48 percent, telecommunication sector contributed 1.47 percent and ICT contributed to 2.22 percent to the GDP. In the program, Prof. Dr. Pushparaj Kandel, Vice Chairman of the National Planning Commission said the contribution of this sector to the GDP is something to be proud of so ICT sector should also be developed as an industry. He said that ICT has been referred to as the driving force of economy in the 15<sup>th</sup> Plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"> Minister for Finance Bishnu Poudel said more improvements are necessary in the ICT sector to develop the country digitally and it will be prioritized in next year’s budget. The telecom sector of the country earns Rs 100 billion annually and provides employment to around 60,000 people. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13038', 'image' => '20210419022050_ict.jpg', 'article_date' => '2021-04-19 14:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13292', 'article_category_id' => '1', 'title' => 'Insurance Board to Seek Clarification from Agrawal', 'sub_title' => '', 'summary' => 'April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal, who has been suspended from his post for investing in the share market against the investment guidelines set by the board. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">The Insurance Board, the regulatory body of insurance companies in Nepal, had suspended Agrawal from the board member of the company last Friday (April 16).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Executive Director of Insurance Board, Raju Raman Poudel, confirmed that the board is making preparations to seek clarification from Agrawal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“We had temporarily removed him from the company’s board a few days ago for investing in the share market by breaching the investment guidelines. Now we will soon seek clarification from him,” Poudel told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“If we do not get a satisfactory answer, we can initiate the process to relieve him off his duties,” added Poudel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">During a field inspection, the Insurance Board found that the company had made investment against the Investment Guidelines 2075. The board decided to take action accordingly. Agrawal is not only a board member of the company but also the coordinator of the investment committee of the company. The Investment Board has concluded that the insurance company was involved in fraudulent investment at the behest of Agrawal.</span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13037', 'image' => '20210419093930_20200825040928_bima_samiti.jpg', 'article_date' => '2021-04-19 09:38:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13291', 'article_category_id' => '1', 'title' => 'Govt to Unveil New Programmes in Agriculture ', 'sub_title' => '', 'summary' => 'April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">During a programme organised at the ministry to discuss about the budget as well as policies and programmes for the upcoming fiscal year 2021/22, Minister Aryal said that some programmes in agriculture and animal husbandry sector could not be continued but new programmes would be run in an efficient way, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, parliamentarians present at the programme laid emphasis on enhancing production and use of organic fertilizer. They also demanded subsidy in agriculture. </span><br /> <span style="font-family:"Arial Unicode MS"">The MPs also drew the attention of the government to reduce risk from possible disaster and to make arrangements for distributing budget amount only from the local levels and ensure effective insurance scheme in agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS"">Lawmakers Khagaraj Adhikari, Bidya Bhattarai, Sujita Shakya, Maya Gyawali, Shanti Pakhrin, Komal Oli, Thammaya Thapa Magar and Dal Bahadur Rana were present on the occasion. </span></span></span></p> <p><span style="font-size:16px"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai.jpg" style="height:723px; width:800px" /></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13036', 'image' => '20210419091906_20201109032251_Clipboard02.jpg', 'article_date' => '2021-04-19 09:18:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13290', 'article_category_id' => '1', 'title' => 'Banks Demand Collateral Even for Concessional Loans', 'sub_title' => '', 'summary' => 'April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan. Bank and Financial Institutions (BFIs) have only disbursed 1.8 percent of the total concessional loan issued for agriculture at a subsidized interest rate of 5 percent as of mid-February. According to Nepal Rastra Bank, a total of Rs 88.29 billion have been distributed under the concessional loan category. Out of this, only Rs 1.60 billion have been distributed without collateral. The remaining Rs 86.69 billion has been disbursed by keeping collateral.<br /> As of mid-February, 38,355 people have benefited from the commercial farming and livestock loans at subsidized rate. A total of 2,542 people took such loans in between mid-January to mid-February. Although the credit flow without collateral is low, the number of borrowers and the total credit flow to the agricultural sector has increased.<br /> Government-owned banks are in the forefront in providing agricultural loans without any collateral. Agriculture Development Bank is in the top list of banks providing such loans. Out of the total loan of Rs 1.60 billion disbursed by banks without any collateral, the Agriculture Development Bank alone has released more than Rs 1 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times"> Hemal Poudyal, the spokesperson of Agriculture Development Bank, said that the bank disbursed between Rs 500,000 to Rs 1.5 million to around 1,600 people without collateral. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"As it is a state program, we have given collateral-free loans even if there is risk of loss," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">There is an arrangement for BFIs to allocate loans of Rs 300,000 to Rs 50 million under various headings. Banks can give up to Rs 50 million of such loans to the agriculture sector. Chairman of Nepal Bankers' Association Bhuvan Kumar Dahal informed that those who do not want to pay the loan or cannot do so often do not have collateral.<br /> Manoj Gyawali, Deputy General Manager of Nabil Bank, admits that it is natural for the banks not to disburse loans without collateral.<br /> "Banks do not want to risk their investment by disbursing loans without collateral," he said. "According to the NRB's provision, each branch of commercial banks has to give ten concessional loans, that is 500 loans per year," said Gyawali. Banks try to provide such loans on collateral. He said that the central bank has not barred them from keeping collateral for providing concessional loans.<br /> As of mid-February, BFIs have disbursed concessional loans to 77,198 borrowers under ten headings. Banks are yet to recover Rs 124.28 billion from the borrowers. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Apart from agriculture and livestock loans, BFIs have allocated most of the loans to women entrepreneurs. Banks have been providing concessional loans to women entrepreneurs at a subsidized interest rate of 6 percent.<br /> By mid-February, the number of women entrepreneurs taking women entrepreneurship loans from banks and financial institutions has reached 36,763. The NRB informed that loans amounting to Rs 32.95 billion have been disbursed during this period. In January, the number of such debtors was 30,465. During this period, loans amounting to Rs 27.05 billion was released.<br /> Under the concessional loan for education, 132 people have received Rs 61 million in the first eight months of the current fiscal year.<br /> Bankers argue that it is risky to give loans to young students by keeping their certificates as collateral.<br /> Under the heading of youth project loans for returnee migrant workers, 671 people are yet to pay back Rs 513.7 million. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Likewise, BFIs have released loans under the Dalit Community Business Development Loan to 733 individuals. The debt stands at Rs 456 million.<br /> So far, 88 people have received loans under higher education and technical and vocational education loans. There arrears is Rs 33.3 million. The flow of loan under this category has not increased encouragingly since January.<br /> The number of earthquake victims who have taken loans to build private houses has also increased.<br /> The number of such debtors has increased from 238 in January to 237 in February.<br /> Likewise, 205 industrialists have availed the concessional loan given by the government to promote the textile industries. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13035', 'image' => '20210418070636_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-04-18 19:05:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13289', 'article_category_id' => '1', 'title' => 'Contributors to SSF to get Discount on Treatment at Hospitals ', 'sub_title' => '', 'summary' => 'April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. SSF is making necessary preparations to provide discount on treatment at the hospitals from July to make the social security programme more effective. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to the SSF, until now contributors used to get the payment claims only after submitting necessary bills. After receiving complaints that this process is full of hassles, SSF has made all required preparations to provide 80 percent discount on the treatment at the hospital itself. Once this service is available, contributors to SSF will have to pay only 20 percent for the treatment that costs up to Rs 100,000.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kapil Mani Gyawali, executive director of the SSF said, “Contributors need not visit SSF office to claim the treatment amount. We are working to provide this facility directly from the hospital.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to him, SSF is in the process of signing agreements with the hospitals to this end. So far, agreements have been signed with about 105 hospitals in the provinces, including Kathmandu Valley. SSF has signed agreements with twenty hospitals in Province 1, sixteen in Province 2, twenty in Bagmati Province, eight in Gandaki Province, fourteen in Lumbini Province, ten in Karnali Province and seventeen in the Sudur Paschim Province. The list also includes TU Teaching Hospital and Bir Hospital of Kathmandu valley. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">SSF had planned to sign agreements with at least ten hospitals in each province. But it has exceeded its target under this plan. “We are planning to bring hospitals across the country under this plan and start giving service from July if the second wave of cornonavirus doesn’t affect this process,” said Gyawali.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Hospitals that have signed agreement with the SSF get the discount payment provided to contributors after they makes the claims with the SSF. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, SSF is making its programmes reasonable and practical to attract more employees. SSF which came into operation from 27<sup>th</sup> November, 2018 has 13,800 contributors. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13034', 'image' => '20210418023111_20191104101107_20190129043642_a.jpg', 'article_date' => '2021-04-18 14:30:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13288', 'article_category_id' => '1', 'title' => 'Digital Transformation Requires Stepped-Up Security Measures ', 'sub_title' => '', 'summary' => 'April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. A huge chunk of population has started doing digital transactions following the lockdown that restricted physical movement. There has been a sharp rise in the number of transactions done through electronic and internet platforms. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In the month of Shrawan 2077 (mid July/mid Aug 2020), transaction worth Rs 18.39 billion took place through mobile banking. Number of such transactions has increased to Rs 40.35 billion in the month of Chaitra (mid Feb/mid March). Likewise, transactions worth Rs 51.3 billion were done through connectIPS in the month of Shrawan (mid July/mid Aug) which went up to Rs 110 billion in the month of Chaitra (mid Feb/mid March).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The growth in the digital transactions is positive news for all the electronic service providers but with this growth also comes digital risks like data loss, identity theft, and financial loss. In this context, Rebati Adhikari of New Business Age talked with Prabesh Poudel, Information Security Officer (ISO) at Nabil Bank to seek his views on importance of digital security in banking sector. Excerpts:</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">With increase in digital banking, how important is digital security? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Today, in one form or another, every bank is on the path to digital transformations, with digital payments moving ahead at high speed. But a</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">t the same time, in the lack of proper security controls in place, there are chances that banks could suffer major service failures due to their inability to manage digital risk. So, while we talk about digital transformation, security transformation cannot be left behind but must go hand in hand. </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In this new digital world, the implementation of new digital technology not only requires system implementation but also requires focus on areas related to digital security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of security measures banks should employ to ensure digital security?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">A complete security strategy has to be in place to protect information assets. Security has to be looked from different aspects such as secured technology infrastructure, on-going security assessment, on-going security monitoring and most importantly security culture. All these have to be guided by strong policies and procedures. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Threat actors have shifted efforts to target end users by exploiting user behavior by misleading users into opening and executing a malicious file, going to a malicious site or handing over information, typically using lures which create urgency (eg lottery payment) or leverage current crises and events (eg covid fund).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So in this scenario, one of the challenging things in today’s context specially in the case of Nepal is security awareness. So, only secured system will not help in strengthening information security, but user awareness is as important as that. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Is banking sector experiencing more risks from mobile banking apps? What should be done to minimize it? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security threats exist everywhere be it traditional banking or modern banking with digital channels, but how you take the precautions is something that plays the major role.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Yes, with a mobile app there are potential vulnerabilities related to the security of the app itself, vulnerabilities in code and also potential vulnerabilities related to the transmission of information. In addition, threats coming from unawareness of the consumers is even more critical. There have been instances in Nepal in which mobile banking users are found to have shared their password/OTP with fraudsters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So to list some of the preventive measures, before installing any mobile app, complete vendor assessment ie assessment of technology service provider is very important. This should be followed by VAPT (Vulnerability Assessment and Penetration Testing) of system itself to ensure system is secured before LIVE implementation. But it does not end here because security is an on-going process as new threats are evolving day by day, so an on-going security assessment, security monitoring, security awareness to consumers is a must. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can use a security awareness training program to educate their employees as well as customers about the importance of data security. Say for example when Multi Factor Authentication is implemented in any system, customers should also be aware of its importance so that he doesn’t share password/OTP with anyone with wrong intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So, it’s no longer about just the individual components of security framework. Focus must be on how they are orchestrated to build a more effective security posture.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of mechanism should bank set up to monitor/respond to cyber threats? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security monitoring is one of the important components of information security and the best way to do is by establishment of Security Operations Centre (SOC), which includes a team of security experts and the facility in which they dedicate themselves entirely for monitoring, analyzing and reporting information. A SOC team monitors cyber security threats on the basis of logs from various critical system 24/7 and detects and responds to any security incidents it oversees and then alerts the bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can establish SOC in-house with their own team or may outsource it to professional and reliable third-party. There are multiple companies in Nepal that have been providing ‘Managed SOC’ service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of significance information security audit holds?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Information security audit will help in comprehensive assessment of a bank’s information system and can help identify system weakness and vulnerabilities in IT infrastructure. In addition, it also verifies the bank’s policies and procedures, security controls, ensures regulatory compliance and many more.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Such audit will definitely help in continual improvement of security posture of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, the most important thing while conducting such external audit is to ensure such audit firm comprises of professional team with enough experience, expertise and standard certification like CISA/ISO 27001 etc for conducting information security audit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13033', 'image' => '20210418021204_iStock-514571236-768x508.jpg', 'article_date' => '2021-04-18 14:10:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $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' => '13302', 'article_category_id' => '1', 'title' => 'NRB Urges Concerned Parties to Exchange Qatar’s Currency before May 10 ', 'sub_title' => '', 'summary' => 'April 21: Bank (NRB) has issued a public notice stating the transaction of the fourth edition of Riyal, the currency of Qatar, will not be allowed after May 10. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">April 21: Bank (NRB) has issued a public notice stating the transaction of the fourth edition of Riyal, the currency of Qatar, will not be allowed after May 10. The central bank has also urged the concerned parties and individuals to convert Riyal from the Banking Department of NRB before May 10. </span><br /> <span style="font-family:Times">The NRB made such appeal following a decision by the central bank of Qatar to demonetize its old currency notes effective from July 1. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The banknotes can also be exchanged from licensed banks and financial institutions as well as licensed money changers dealing in convertible foreign currency, added the statement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">A large number of Nepali migrant workers are employed in Qatar and therefore the central bank has issued the notice for the convenience of the workers.</span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-21', 'modified' => '2021-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '13047', 'image' => '20210421122523_Buy-Qatari-Riyal-Online.jpeg', 'article_date' => '2021-04-21 12:23:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13301', 'article_category_id' => '1', 'title' => 'Melamchi Project Starts Distributing Water at Full Capacity', 'sub_title' => '', 'summary' => 'April 20: The Melamachi Water Supply Project (MWSP) has finally started distributing water at full capacity of 170 million liters per day in the Kathmandu Valley from Monday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 20: The Melamachi Water Supply Project (MWSP) has finally started distributing water at full capacity of 170 million liters per day in the Kathmandu Valley from Monday. This is the first time in three weeks since the distribution of water from Melamchi that the project has started distributing at full capacity. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Issuing a press release, Melamchi Drinking Water Development Committee (MDWDC) informed that water from Sundarijal has come to Kathmandu at full capacity. Although the distribution of water begun from March 28, the distribution of water started at full capacity only from April 19. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">From now on, 250 million liters of water will be distributed daily in the Kathmandu Valley. Apart from 170 million liters of water from Melamchi, the project has been producing 80 million liters of water internally through deep tube well.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">During the testing phase, the project had distributed 80 million liters of water which was gradually increased by operating both of the water processing centers in Sundarijal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Melamchi water had arrived in Sundarijal on February 22 during the test phase. The water was processed in Sundarijal and was available for distribution partially. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The MWSP expects to end the acute water shortage problem of the valley. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13046', 'image' => '20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-04-20 16:12:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13300', 'article_category_id' => '1', 'title' => '17 Solar Plants Receive Permits for Generating Energy in Nepal', 'sub_title' => '', 'summary' => 'April 20: The Department of Electricity Development (DOED) has so far issued permits for the development of 17 solar plants. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 20: The Department of Electricity Development (DOED) has so far issued permits for the development of 17 solar plants. It has given permission to construct 17 solar plants with the capacity to produce 110.47 MW of energy. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The department had given approval for the construction of Butwal Solar Plant in 2019. Rihi Hydropower Company was the first to receive the permission from the department to set up Butwal Solar Plant in the country. Since then, other 16 solar plants have received permits for the construction.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Among the recipients of the permits, majority of the companies are privately owned. Nepal Electricity Authority (NEA) had got the permit to build three solar plants with a capacity to produce 14.77 MW of energy each. Besides the NEA, all others are private companies. NEA is building 25 MW of solar plant in Nuwakot. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Though 17 solar projects have got a green signal to start the construction from the department, only three solar plants have come into operation so far. The 10MW Mithila Solar Plant, 8.5 MW Butwal Solar Plant and 11 MW Solar Plant of NEA are currently in operation. Meanwhile, a 0.68 MW plant of Kathmandu Valley Drinking Water Limited and 1MW plant of Surya Power Company in Nawalparasi are also already in operation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Chandranighapur Surya Project with the capacity of 4MW built by API Power Company will come online within this month. Electricity generated from this project will be connected to NEA’s 33KV transmission line.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Nabin Raj Singh, Director General of DOED, said the solar plant license is valid for 25 years. After that, the plant’s ownership is shifted to the government. He said lately, energy entrepreneurs are attracted to solar energy. It is cheaper to construct solar plant than hydropower plants while the Power Purchase Agreement (PPA) rate is also high.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">However the challenge in the construction of solar plants. They can’t be built anywhere and the land rent is quite high. On top of that, access to transmission line is not available everywhere. Yet, attraction towards solar plants is encouraging. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13045', 'image' => '20210420035841_solar-syst.jpg', 'article_date' => '2021-04-20 15:57:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13299', 'article_category_id' => '1', 'title' => 'NRB Directs Banks to Stay Highly Alert Against Covid-19', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to provide uninterrupted service by adopting safety measures against the second wave of Covid-19 infection.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">April 20: Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to provide uninterrupted service by adopting safety measures against the second wave of Covid-19 infection. The central bank issued a notice on Monday, April 19, instructing banks to be cautious about the spreading of infection.<br /> <br /> NRB has directed the banks to follow the health safety protocols of issued by the Government of Nepal and the World Health Organization to reduce the risk of virus transmission among bank employees and customers. The central bank has asked the BFIs to provide service to the customers by being cautious and maintaining physical distance. The central bank has suggested BFIs to provide electronic service as much as possible.<br /> <br /> Banks also have been requested to provide sanitizers and tissue paper at ATMs and maintain proper ventilation to reduce the risk of infection from their ATM booths. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Likewise, NRB has directed the banks to ensure physical distance and conduct programs such as meetings, seminars, and training virtually. NRB also suggests taking measures such as remote access, work from home, working in shifts as per the need.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">NRB has also directed banks to update their contingency plan with a detailed action plan. The central bank has urged BFIs to follow the previous instructions on health protocol.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13044', 'image' => '20210420034241_20201106055408_Nepal_Rastra_Bank2.jpg', 'article_date' => '2021-04-20 15:42:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13298', 'article_category_id' => '1', 'title' => 'Airline Operators Hike Domestic Airfare', 'sub_title' => '', 'summary' => 'April 20: The Airline Operators' Association of Nepal (AAON) has increased the airfare of all domestic flights following the rise in price of aviation fuel. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 20: The Airline Operators' Association of Nepal (AAON) has increased the airfare of all domestic flights following the rise in price of aviation fuel. The new airfare has come into effect from April 20.<br /> Nepal Oil Corporation (NOC) had raised the price of aviation fuel by Rs 2. Earlier, the price of aviation was Rs 74 per liter. It has now been fixed at Rs 76 per liter.<br /> The AAON has fixed the new price by adjusting the fuel surcharge for flights in various sectors across the country.<br /> According to a press release issued by the association on April 19, the airfare of Kathmandu-Dhangadhi flight has grown by Rs 85 per ticket. Likewise, airfare of Doti-Sanfebgar has been raised by Rs 10 ticket.<br /> The fare of the Kathmandu-Bhairahawa route has been raised by Rs 45, and the Kathmandu-Nepalgunj route by Rs 65. Likewise, the airfare of Kathmandu-Biratnagar flights has been increased by Rs 50 per ticket and Kathmandu-Simara flights by Rs 15.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Likewise, airline companies have also increased the airfare of mountain flights. Airfare of mountain flights from Kathmandu and Pokhara has grown by Rs. 65 per ticket each.<br /> Earlier, the association had fixed the new fare on March 20. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13043', 'image' => '20210420015427_20201108022005_Reviving Nepali Aviation Sector Amid Pandemic_2.jpg', 'article_date' => '2021-04-20 13:53:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13297', 'article_category_id' => '1', 'title' => 'Government Issues Fresh Directives to Contain COVID-19 ', 'sub_title' => '', 'summary' => 'April 20: The government has issued new directives to contain Covid-19 pandemic following a surge in the rate of infection across the country. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 20: The government has issued new directives to contain Covid-19 pandemic following a surge in the rate of infection across the country. The government adopted new measures after more than 1000 cases of daily infection were reported in recent days.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">A meeting of the Council of Ministers on Monday (April 19) issued such directive in accordance to Clause (2) of the Infectious Disease Control Act, 1964. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the decision, the government has ordered people not to gather in large number and has also instructed the concerned authorities to strictly monitor cross-border movement.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Likewise, the government has imposed a ban on cinema halls, party palaces, dance clubs and bars, health clubs, gyms, swimming pools, futsal, stadium and all types of public gatherings. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Unveiling the decisions taken by the cabinet, Government Spokesperson and Minister for Communications and Information Technology Parbat Gurung said that schools, training centres and academic institutions have been instructed to run their classes virtually until mid-May in major cities. However, the government has given green signal to continue the prescheduled examinations of schools and colleges and all the practical examinations by adopting health safety measures. </span><br /> <span style="font-family:"Arial Unicode MS"">Public vehicles have been ordered not to carry passengers more than their capacity. Only a limited number of passengers are allowed to travel on public vehicles on the basis of the vehicles' seating capacity. It is also mandatory to use of face mask and hand sanitizer for passengers, drivers and helpers of the vehicles. As per the cabinet decision, the public vehicles should be disinfected every day. Any passenger found not wearing masks will be fined Rs 10 for the violation. <br /> Likewise, the hotels and restaurants will be allowed to operate only from 8:00 am to 8:00 pm by applying health precautions and should provide home delivery service beyond the time fixed by the government.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The government has also restricted the gathering of more than 25 people in temples, mosques, monastery and churches, and other religious functions. Furthermore, prior approval from the local administration is expected for conducting social and religious functions at party palaces. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13042', 'image' => '20210420111424_20210416115657_1618526412.12.jpg', 'article_date' => '2021-04-20 11:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13296', 'article_category_id' => '1', 'title' => 'Production of Sack Industry Declines due to Lack of Raw Materials', 'sub_title' => '', 'summary' => 'April 19: As the second wave of the coronavirus is spreading across the globe, industries that produce sacks in Nepal have been facing shortage of raw materials.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">April 19: As the second wave of the coronavirus is spreading across the globe, industries that produce sacks in Nepal have been facing shortage of raw materials. Due to the lack of raw materials, the production capacity of these industries has been declining.<br /> There are around two dozen industries that produce sacks made of plastic, jute, and clothes in Nepal. The industries provide these bags to various factories such as the ones that produce grains and cement among others. At present, all these industries are facing shortage of raw materials. This has reduced the production capacity of all the industries by almost 50 percent.<br /> Sudip Jaiswal, proprietor of Pashupati Seal Pack Industry in Biratnagar, said that his industry has been facing problems in production of bags for the past two months due to lack of polypropylene. Nepal imports such raw materials from countries like Saudi Arabia, Malaysia, and India.<br /> He said that there is a problem in importing raw materials due to the increasing rate of coronavirus infection in those countries in recent days. "First of all, even if there is no problem in getting the raw materials, it takes months to reach Nepal due to the delay in shipment," he said.<br /> Due to the shortage of raw material and lengthy import process, the price of sacks has gone up in the country. According to industrialists, the production cost has risen by 25 percent this year compared to last year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The price of sacks used for packing cement has gone up to Rs 19 from Rs 13. About 30 percent of the workers in such industries have lost their jobs due to the decline in production capacity.<br /> According to Nikhil Todi, proprietor of Shivam Plastic Industries, Nepali sack industries produce 5,000 metric tonnes of sacks per month. Of them, 40 percent of the bags are consumed in Nepal's domestic market, and the remaining 60 percent are exported to other countries, including India.<br /> Due to the decline in production capacity, the export market of these industries has also become uncertain. Likewise, due to the fall in production of sacks, industries that produce rice, pulses, flour, and cement have been facing shortage of bags, according to the industrialists.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13041', 'image' => '20210419044539_white-rice-sack-bag-isolated-260nw-709147009.jpg', 'article_date' => '2021-04-19 16:44:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13295', 'article_category_id' => '1', 'title' => 'Automobile Business Comes to a ‘Grinding Halt’', 'sub_title' => '', 'summary' => 'April 19: Due to recent surge in COVID-19 cases in India and its impact on import business, the automobile business in Nepal has come to a “complete halt” this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 19: Due to recent surge in COVID-19 cases in India and its impact on import business, the automobile business in Nepal has come to a “complete halt” this year. Entrepreneurs had expected that the auto business would gain momentum after the lockdown and restrictions were lifted but the sale has not been much encouraging. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The biggest auto sales take place in the country during the Nada Auto Show, which is held just before the Dashain festival. After that, New Year also contributes to major auto sales. Until two years ago, new models of vehicles used to be introduced in the country by mid-February. In the last two years, no such enthusiasm has been witnessed in the automobile industry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Sunil Rijal, General Secretary of Nepal Automobiles Dealers Association (NADA), said sales of auto have not been encouraging due to lack of enough supply to meet the increasing demand. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nevertheless, auto sales affected since last year due to the outbreak of COVID-19 is picking up. Similarly, banks’ higher capacity of lending has also led to a higher demand for automobiles. “However, the volume of sales has not increased due to the obstruction in supply chain. There is high demand for vehicles because of less volume of import,” Rijal said, adding that the demand for vehicles has not gone up despite revival of economic activities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Traders say that customers are more attracted towards private vehicles in the wake of Covid-19. There has not been any demand for public buses since the outbreak. Car brands like Suzuki, Tata, Mahindra, Hyundai among others have high demand but traders haven’t been able to import these brands on time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Owner of Naryani Automobiles and Secretary of NADA Anup Kumar Baral said the delivery of old bookings for vehicles have gradually started. “If the automobile industry in India remains unaffected due to this new wave of coronavirus, we are hopeful that sales will pick up pace from this year,” he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nepal’s automobile sector is dependent on Indian market. Most of the vehicle parts manufactured in India are imported from China. According to Indian media, rising conflict between India and China has led to shortage of vehicles parts in India. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13040', 'image' => '20210419042043_20150914010543_travel-map.jpg', 'article_date' => '2021-04-19 16:20:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13294', 'article_category_id' => '1', 'title' => 'Buddha Air to Operate Inter-Province Flights from Pokhara', 'sub_title' => '', 'summary' => 'April 19: Buddha Air, a leading private airlines company in Nepal, has decided to operate inter-province flights from its base in Pokhara.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">April 19: Buddha Air, a leading private airlines company in Nepal, has decided to operate inter-province flights from its base in Pokhara. The company will conduct test flights to four destinations from Gandaki, Lumbini and Bagmati provinces from Pokhara.<br /> Buddha Air will fly from Pokhara to Simara, Biratnagar, Nepalgunj, and from Bharatpur in Bagmati Province to Bhairahawa from Saturday, May 1. The company has been operating regular flights to these destinations from Kathmandu.<br /> The company has also fixed the airfare for the inter-province flights. The airfare for Pokhara-Biratnagar has been fixed between Rs 6,000 to Rs 10,800.<br /> Similarly, the Pokhara-Nepalgunj flight will cost a minimum of Rs 4,500 to a maximum of Rs 7,200. The airfare of the Pokhara-Simara flight will cost between Rs 4,300 to Rs 6,700, and the Pokhara-Bhairahawa flight will cost a minimum of Rs 3,100 to a maximum of Rs 3,900.<br /> Likewise, airfare for Tumlingtar-Biratganagar will vary from Rs 2,500 to Rs 3,200 and Rs 2,500 to Rs 4,000 for the Bhairahawa-Bharatpur flight.<br /> The fare is based on the operating cost of ATR-72, said Birendra Bahadur Basnet, managing director of the company.<br /> However, the company informed that the flight to these destinations will start from May 1 by operating Beachcraft. The company has demanded that the provincial government and the federal government provide special facilities for inter-province flights.<br /> Basnet informed that the airline company is planning to buy an additional aircraft by May 15. Pokhara is the second-largest city after Kathmandu, and Buddha Air has adopted a strategy to make it a base for domestic flights.<br /> Basnet informed that the company has been following 'Safety Guidelines against Covid-19' since the outbreak of the pandemic. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13039', 'image' => '20210419032057_20210122113025_20200323123412_aaa.jpg', 'article_date' => '2021-04-19 15:20:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13293', 'article_category_id' => '1', 'title' => 'ICT Sector Contributes 77.16 Million to Nepal's GDP', 'sub_title' => '', 'summary' => 'April 19: Information, Communication and Technology (ICT) sector has been contributing Rs 77.16 billion to the Gross Domestic Product (GDP) of the country, according to the Central Bureau of Statistics (CBS).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 19: Information, Communication and Technology (ICT) sector has been contributing Rs 77.16 billion to the Gross Domestic Product (GDP) of the country, according to the Central Bureau of Statistics (CBS).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In an interaction held on Saturday by the Society of Economic Journalists of Nepal (SEJON) on the ‘Role of telecom sector in GDP’, Ishwori Bhandari, Director of CBS, said the contribution of ICT to GDP stands at Rs 77.16 billion. This accounts for 2.22 percent of the total GDP of the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to CBS, in the fiscal year 2019/20, broadcasting sector contributed 0.48 percent, telecommunication sector contributed 1.47 percent and ICT contributed to 2.22 percent to the GDP. In the program, Prof. Dr. Pushparaj Kandel, Vice Chairman of the National Planning Commission said the contribution of this sector to the GDP is something to be proud of so ICT sector should also be developed as an industry. He said that ICT has been referred to as the driving force of economy in the 15<sup>th</sup> Plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"> Minister for Finance Bishnu Poudel said more improvements are necessary in the ICT sector to develop the country digitally and it will be prioritized in next year’s budget. The telecom sector of the country earns Rs 100 billion annually and provides employment to around 60,000 people. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13038', 'image' => '20210419022050_ict.jpg', 'article_date' => '2021-04-19 14:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13292', 'article_category_id' => '1', 'title' => 'Insurance Board to Seek Clarification from Agrawal', 'sub_title' => '', 'summary' => 'April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal, who has been suspended from his post for investing in the share market against the investment guidelines set by the board. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">The Insurance Board, the regulatory body of insurance companies in Nepal, had suspended Agrawal from the board member of the company last Friday (April 16).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Executive Director of Insurance Board, Raju Raman Poudel, confirmed that the board is making preparations to seek clarification from Agrawal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“We had temporarily removed him from the company’s board a few days ago for investing in the share market by breaching the investment guidelines. Now we will soon seek clarification from him,” Poudel told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“If we do not get a satisfactory answer, we can initiate the process to relieve him off his duties,” added Poudel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">During a field inspection, the Insurance Board found that the company had made investment against the Investment Guidelines 2075. The board decided to take action accordingly. Agrawal is not only a board member of the company but also the coordinator of the investment committee of the company. The Investment Board has concluded that the insurance company was involved in fraudulent investment at the behest of Agrawal.</span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13037', 'image' => '20210419093930_20200825040928_bima_samiti.jpg', 'article_date' => '2021-04-19 09:38:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13291', 'article_category_id' => '1', 'title' => 'Govt to Unveil New Programmes in Agriculture ', 'sub_title' => '', 'summary' => 'April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">During a programme organised at the ministry to discuss about the budget as well as policies and programmes for the upcoming fiscal year 2021/22, Minister Aryal said that some programmes in agriculture and animal husbandry sector could not be continued but new programmes would be run in an efficient way, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, parliamentarians present at the programme laid emphasis on enhancing production and use of organic fertilizer. They also demanded subsidy in agriculture. </span><br /> <span style="font-family:"Arial Unicode MS"">The MPs also drew the attention of the government to reduce risk from possible disaster and to make arrangements for distributing budget amount only from the local levels and ensure effective insurance scheme in agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS"">Lawmakers Khagaraj Adhikari, Bidya Bhattarai, Sujita Shakya, Maya Gyawali, Shanti Pakhrin, Komal Oli, Thammaya Thapa Magar and Dal Bahadur Rana were present on the occasion. </span></span></span></p> <p><span style="font-size:16px"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai.jpg" style="height:723px; width:800px" /></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13036', 'image' => '20210419091906_20201109032251_Clipboard02.jpg', 'article_date' => '2021-04-19 09:18:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13290', 'article_category_id' => '1', 'title' => 'Banks Demand Collateral Even for Concessional Loans', 'sub_title' => '', 'summary' => 'April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan. Bank and Financial Institutions (BFIs) have only disbursed 1.8 percent of the total concessional loan issued for agriculture at a subsidized interest rate of 5 percent as of mid-February. According to Nepal Rastra Bank, a total of Rs 88.29 billion have been distributed under the concessional loan category. Out of this, only Rs 1.60 billion have been distributed without collateral. The remaining Rs 86.69 billion has been disbursed by keeping collateral.<br /> As of mid-February, 38,355 people have benefited from the commercial farming and livestock loans at subsidized rate. A total of 2,542 people took such loans in between mid-January to mid-February. Although the credit flow without collateral is low, the number of borrowers and the total credit flow to the agricultural sector has increased.<br /> Government-owned banks are in the forefront in providing agricultural loans without any collateral. Agriculture Development Bank is in the top list of banks providing such loans. Out of the total loan of Rs 1.60 billion disbursed by banks without any collateral, the Agriculture Development Bank alone has released more than Rs 1 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times"> Hemal Poudyal, the spokesperson of Agriculture Development Bank, said that the bank disbursed between Rs 500,000 to Rs 1.5 million to around 1,600 people without collateral. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"As it is a state program, we have given collateral-free loans even if there is risk of loss," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">There is an arrangement for BFIs to allocate loans of Rs 300,000 to Rs 50 million under various headings. Banks can give up to Rs 50 million of such loans to the agriculture sector. Chairman of Nepal Bankers' Association Bhuvan Kumar Dahal informed that those who do not want to pay the loan or cannot do so often do not have collateral.<br /> Manoj Gyawali, Deputy General Manager of Nabil Bank, admits that it is natural for the banks not to disburse loans without collateral.<br /> "Banks do not want to risk their investment by disbursing loans without collateral," he said. "According to the NRB's provision, each branch of commercial banks has to give ten concessional loans, that is 500 loans per year," said Gyawali. Banks try to provide such loans on collateral. He said that the central bank has not barred them from keeping collateral for providing concessional loans.<br /> As of mid-February, BFIs have disbursed concessional loans to 77,198 borrowers under ten headings. Banks are yet to recover Rs 124.28 billion from the borrowers. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Apart from agriculture and livestock loans, BFIs have allocated most of the loans to women entrepreneurs. Banks have been providing concessional loans to women entrepreneurs at a subsidized interest rate of 6 percent.<br /> By mid-February, the number of women entrepreneurs taking women entrepreneurship loans from banks and financial institutions has reached 36,763. The NRB informed that loans amounting to Rs 32.95 billion have been disbursed during this period. In January, the number of such debtors was 30,465. During this period, loans amounting to Rs 27.05 billion was released.<br /> Under the concessional loan for education, 132 people have received Rs 61 million in the first eight months of the current fiscal year.<br /> Bankers argue that it is risky to give loans to young students by keeping their certificates as collateral.<br /> Under the heading of youth project loans for returnee migrant workers, 671 people are yet to pay back Rs 513.7 million. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Likewise, BFIs have released loans under the Dalit Community Business Development Loan to 733 individuals. The debt stands at Rs 456 million.<br /> So far, 88 people have received loans under higher education and technical and vocational education loans. There arrears is Rs 33.3 million. The flow of loan under this category has not increased encouragingly since January.<br /> The number of earthquake victims who have taken loans to build private houses has also increased.<br /> The number of such debtors has increased from 238 in January to 237 in February.<br /> Likewise, 205 industrialists have availed the concessional loan given by the government to promote the textile industries. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13035', 'image' => '20210418070636_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-04-18 19:05:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13289', 'article_category_id' => '1', 'title' => 'Contributors to SSF to get Discount on Treatment at Hospitals ', 'sub_title' => '', 'summary' => 'April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. SSF is making necessary preparations to provide discount on treatment at the hospitals from July to make the social security programme more effective. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to the SSF, until now contributors used to get the payment claims only after submitting necessary bills. After receiving complaints that this process is full of hassles, SSF has made all required preparations to provide 80 percent discount on the treatment at the hospital itself. Once this service is available, contributors to SSF will have to pay only 20 percent for the treatment that costs up to Rs 100,000.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kapil Mani Gyawali, executive director of the SSF said, “Contributors need not visit SSF office to claim the treatment amount. We are working to provide this facility directly from the hospital.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to him, SSF is in the process of signing agreements with the hospitals to this end. So far, agreements have been signed with about 105 hospitals in the provinces, including Kathmandu Valley. SSF has signed agreements with twenty hospitals in Province 1, sixteen in Province 2, twenty in Bagmati Province, eight in Gandaki Province, fourteen in Lumbini Province, ten in Karnali Province and seventeen in the Sudur Paschim Province. The list also includes TU Teaching Hospital and Bir Hospital of Kathmandu valley. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">SSF had planned to sign agreements with at least ten hospitals in each province. But it has exceeded its target under this plan. “We are planning to bring hospitals across the country under this plan and start giving service from July if the second wave of cornonavirus doesn’t affect this process,” said Gyawali.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Hospitals that have signed agreement with the SSF get the discount payment provided to contributors after they makes the claims with the SSF. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, SSF is making its programmes reasonable and practical to attract more employees. SSF which came into operation from 27<sup>th</sup> November, 2018 has 13,800 contributors. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13034', 'image' => '20210418023111_20191104101107_20190129043642_a.jpg', 'article_date' => '2021-04-18 14:30:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13288', 'article_category_id' => '1', 'title' => 'Digital Transformation Requires Stepped-Up Security Measures ', 'sub_title' => '', 'summary' => 'April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. A huge chunk of population has started doing digital transactions following the lockdown that restricted physical movement. There has been a sharp rise in the number of transactions done through electronic and internet platforms. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In the month of Shrawan 2077 (mid July/mid Aug 2020), transaction worth Rs 18.39 billion took place through mobile banking. Number of such transactions has increased to Rs 40.35 billion in the month of Chaitra (mid Feb/mid March). Likewise, transactions worth Rs 51.3 billion were done through connectIPS in the month of Shrawan (mid July/mid Aug) which went up to Rs 110 billion in the month of Chaitra (mid Feb/mid March).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The growth in the digital transactions is positive news for all the electronic service providers but with this growth also comes digital risks like data loss, identity theft, and financial loss. In this context, Rebati Adhikari of New Business Age talked with Prabesh Poudel, Information Security Officer (ISO) at Nabil Bank to seek his views on importance of digital security in banking sector. Excerpts:</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">With increase in digital banking, how important is digital security? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Today, in one form or another, every bank is on the path to digital transformations, with digital payments moving ahead at high speed. But a</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">t the same time, in the lack of proper security controls in place, there are chances that banks could suffer major service failures due to their inability to manage digital risk. So, while we talk about digital transformation, security transformation cannot be left behind but must go hand in hand. </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In this new digital world, the implementation of new digital technology not only requires system implementation but also requires focus on areas related to digital security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of security measures banks should employ to ensure digital security?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">A complete security strategy has to be in place to protect information assets. Security has to be looked from different aspects such as secured technology infrastructure, on-going security assessment, on-going security monitoring and most importantly security culture. All these have to be guided by strong policies and procedures. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Threat actors have shifted efforts to target end users by exploiting user behavior by misleading users into opening and executing a malicious file, going to a malicious site or handing over information, typically using lures which create urgency (eg lottery payment) or leverage current crises and events (eg covid fund).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So in this scenario, one of the challenging things in today’s context specially in the case of Nepal is security awareness. So, only secured system will not help in strengthening information security, but user awareness is as important as that. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Is banking sector experiencing more risks from mobile banking apps? What should be done to minimize it? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security threats exist everywhere be it traditional banking or modern banking with digital channels, but how you take the precautions is something that plays the major role.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Yes, with a mobile app there are potential vulnerabilities related to the security of the app itself, vulnerabilities in code and also potential vulnerabilities related to the transmission of information. In addition, threats coming from unawareness of the consumers is even more critical. There have been instances in Nepal in which mobile banking users are found to have shared their password/OTP with fraudsters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So to list some of the preventive measures, before installing any mobile app, complete vendor assessment ie assessment of technology service provider is very important. This should be followed by VAPT (Vulnerability Assessment and Penetration Testing) of system itself to ensure system is secured before LIVE implementation. But it does not end here because security is an on-going process as new threats are evolving day by day, so an on-going security assessment, security monitoring, security awareness to consumers is a must. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can use a security awareness training program to educate their employees as well as customers about the importance of data security. Say for example when Multi Factor Authentication is implemented in any system, customers should also be aware of its importance so that he doesn’t share password/OTP with anyone with wrong intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So, it’s no longer about just the individual components of security framework. Focus must be on how they are orchestrated to build a more effective security posture.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of mechanism should bank set up to monitor/respond to cyber threats? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security monitoring is one of the important components of information security and the best way to do is by establishment of Security Operations Centre (SOC), which includes a team of security experts and the facility in which they dedicate themselves entirely for monitoring, analyzing and reporting information. A SOC team monitors cyber security threats on the basis of logs from various critical system 24/7 and detects and responds to any security incidents it oversees and then alerts the bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can establish SOC in-house with their own team or may outsource it to professional and reliable third-party. There are multiple companies in Nepal that have been providing ‘Managed SOC’ service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of significance information security audit holds?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Information security audit will help in comprehensive assessment of a bank’s information system and can help identify system weakness and vulnerabilities in IT infrastructure. In addition, it also verifies the bank’s policies and procedures, security controls, ensures regulatory compliance and many more.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Such audit will definitely help in continual improvement of security posture of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, the most important thing while conducting such external audit is to ensure such audit firm comprises of professional team with enough experience, expertise and standard certification like CISA/ISO 27001 etc for conducting information security audit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13033', 'image' => '20210418021204_iStock-514571236-768x508.jpg', 'article_date' => '2021-04-18 14:10:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $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' => '13302', 'article_category_id' => '1', 'title' => 'NRB Urges Concerned Parties to Exchange Qatar’s Currency before May 10 ', 'sub_title' => '', 'summary' => 'April 21: Bank (NRB) has issued a public notice stating the transaction of the fourth edition of Riyal, the currency of Qatar, will not be allowed after May 10. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">April 21: Bank (NRB) has issued a public notice stating the transaction of the fourth edition of Riyal, the currency of Qatar, will not be allowed after May 10. The central bank has also urged the concerned parties and individuals to convert Riyal from the Banking Department of NRB before May 10. </span><br /> <span style="font-family:Times">The NRB made such appeal following a decision by the central bank of Qatar to demonetize its old currency notes effective from July 1. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The banknotes can also be exchanged from licensed banks and financial institutions as well as licensed money changers dealing in convertible foreign currency, added the statement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">A large number of Nepali migrant workers are employed in Qatar and therefore the central bank has issued the notice for the convenience of the workers.</span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-21', 'modified' => '2021-04-21', 'keywords' => '', 'description' => '', 'sortorder' => '13047', 'image' => '20210421122523_Buy-Qatari-Riyal-Online.jpeg', 'article_date' => '2021-04-21 12:23:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13301', 'article_category_id' => '1', 'title' => 'Melamchi Project Starts Distributing Water at Full Capacity', 'sub_title' => '', 'summary' => 'April 20: The Melamachi Water Supply Project (MWSP) has finally started distributing water at full capacity of 170 million liters per day in the Kathmandu Valley from Monday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 20: The Melamachi Water Supply Project (MWSP) has finally started distributing water at full capacity of 170 million liters per day in the Kathmandu Valley from Monday. This is the first time in three weeks since the distribution of water from Melamchi that the project has started distributing at full capacity. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Issuing a press release, Melamchi Drinking Water Development Committee (MDWDC) informed that water from Sundarijal has come to Kathmandu at full capacity. Although the distribution of water begun from March 28, the distribution of water started at full capacity only from April 19. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">From now on, 250 million liters of water will be distributed daily in the Kathmandu Valley. Apart from 170 million liters of water from Melamchi, the project has been producing 80 million liters of water internally through deep tube well.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">During the testing phase, the project had distributed 80 million liters of water which was gradually increased by operating both of the water processing centers in Sundarijal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Melamchi water had arrived in Sundarijal on February 22 during the test phase. The water was processed in Sundarijal and was available for distribution partially. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The MWSP expects to end the acute water shortage problem of the valley. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13046', 'image' => '20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-04-20 16:12:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13300', 'article_category_id' => '1', 'title' => '17 Solar Plants Receive Permits for Generating Energy in Nepal', 'sub_title' => '', 'summary' => 'April 20: The Department of Electricity Development (DOED) has so far issued permits for the development of 17 solar plants. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 20: The Department of Electricity Development (DOED) has so far issued permits for the development of 17 solar plants. It has given permission to construct 17 solar plants with the capacity to produce 110.47 MW of energy. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The department had given approval for the construction of Butwal Solar Plant in 2019. Rihi Hydropower Company was the first to receive the permission from the department to set up Butwal Solar Plant in the country. Since then, other 16 solar plants have received permits for the construction.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Among the recipients of the permits, majority of the companies are privately owned. Nepal Electricity Authority (NEA) had got the permit to build three solar plants with a capacity to produce 14.77 MW of energy each. Besides the NEA, all others are private companies. NEA is building 25 MW of solar plant in Nuwakot. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Though 17 solar projects have got a green signal to start the construction from the department, only three solar plants have come into operation so far. The 10MW Mithila Solar Plant, 8.5 MW Butwal Solar Plant and 11 MW Solar Plant of NEA are currently in operation. Meanwhile, a 0.68 MW plant of Kathmandu Valley Drinking Water Limited and 1MW plant of Surya Power Company in Nawalparasi are also already in operation.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Chandranighapur Surya Project with the capacity of 4MW built by API Power Company will come online within this month. Electricity generated from this project will be connected to NEA’s 33KV transmission line.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Nabin Raj Singh, Director General of DOED, said the solar plant license is valid for 25 years. After that, the plant’s ownership is shifted to the government. He said lately, energy entrepreneurs are attracted to solar energy. It is cheaper to construct solar plant than hydropower plants while the Power Purchase Agreement (PPA) rate is also high.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">However the challenge in the construction of solar plants. They can’t be built anywhere and the land rent is quite high. On top of that, access to transmission line is not available everywhere. Yet, attraction towards solar plants is encouraging. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13045', 'image' => '20210420035841_solar-syst.jpg', 'article_date' => '2021-04-20 15:57:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13299', 'article_category_id' => '1', 'title' => 'NRB Directs Banks to Stay Highly Alert Against Covid-19', 'sub_title' => '', 'summary' => 'April 20: Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to provide uninterrupted service by adopting safety measures against the second wave of Covid-19 infection.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">April 20: Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to provide uninterrupted service by adopting safety measures against the second wave of Covid-19 infection. The central bank issued a notice on Monday, April 19, instructing banks to be cautious about the spreading of infection.<br /> <br /> NRB has directed the banks to follow the health safety protocols of issued by the Government of Nepal and the World Health Organization to reduce the risk of virus transmission among bank employees and customers. The central bank has asked the BFIs to provide service to the customers by being cautious and maintaining physical distance. The central bank has suggested BFIs to provide electronic service as much as possible.<br /> <br /> Banks also have been requested to provide sanitizers and tissue paper at ATMs and maintain proper ventilation to reduce the risk of infection from their ATM booths. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">Likewise, NRB has directed the banks to ensure physical distance and conduct programs such as meetings, seminars, and training virtually. NRB also suggests taking measures such as remote access, work from home, working in shifts as per the need.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:Arial">NRB has also directed banks to update their contingency plan with a detailed action plan. The central bank has urged BFIs to follow the previous instructions on health protocol.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13044', 'image' => '20210420034241_20201106055408_Nepal_Rastra_Bank2.jpg', 'article_date' => '2021-04-20 15:42:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13298', 'article_category_id' => '1', 'title' => 'Airline Operators Hike Domestic Airfare', 'sub_title' => '', 'summary' => 'April 20: The Airline Operators' Association of Nepal (AAON) has increased the airfare of all domestic flights following the rise in price of aviation fuel. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 20: The Airline Operators' Association of Nepal (AAON) has increased the airfare of all domestic flights following the rise in price of aviation fuel. The new airfare has come into effect from April 20.<br /> Nepal Oil Corporation (NOC) had raised the price of aviation fuel by Rs 2. Earlier, the price of aviation was Rs 74 per liter. It has now been fixed at Rs 76 per liter.<br /> The AAON has fixed the new price by adjusting the fuel surcharge for flights in various sectors across the country.<br /> According to a press release issued by the association on April 19, the airfare of Kathmandu-Dhangadhi flight has grown by Rs 85 per ticket. Likewise, airfare of Doti-Sanfebgar has been raised by Rs 10 ticket.<br /> The fare of the Kathmandu-Bhairahawa route has been raised by Rs 45, and the Kathmandu-Nepalgunj route by Rs 65. Likewise, the airfare of Kathmandu-Biratnagar flights has been increased by Rs 50 per ticket and Kathmandu-Simara flights by Rs 15.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Likewise, airline companies have also increased the airfare of mountain flights. Airfare of mountain flights from Kathmandu and Pokhara has grown by Rs. 65 per ticket each.<br /> Earlier, the association had fixed the new fare on March 20. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13043', 'image' => '20210420015427_20201108022005_Reviving Nepali Aviation Sector Amid Pandemic_2.jpg', 'article_date' => '2021-04-20 13:53:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13297', 'article_category_id' => '1', 'title' => 'Government Issues Fresh Directives to Contain COVID-19 ', 'sub_title' => '', 'summary' => 'April 20: The government has issued new directives to contain Covid-19 pandemic following a surge in the rate of infection across the country. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 20: The government has issued new directives to contain Covid-19 pandemic following a surge in the rate of infection across the country. The government adopted new measures after more than 1000 cases of daily infection were reported in recent days.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">A meeting of the Council of Ministers on Monday (April 19) issued such directive in accordance to Clause (2) of the Infectious Disease Control Act, 1964. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the decision, the government has ordered people not to gather in large number and has also instructed the concerned authorities to strictly monitor cross-border movement.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Likewise, the government has imposed a ban on cinema halls, party palaces, dance clubs and bars, health clubs, gyms, swimming pools, futsal, stadium and all types of public gatherings. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Unveiling the decisions taken by the cabinet, Government Spokesperson and Minister for Communications and Information Technology Parbat Gurung said that schools, training centres and academic institutions have been instructed to run their classes virtually until mid-May in major cities. However, the government has given green signal to continue the prescheduled examinations of schools and colleges and all the practical examinations by adopting health safety measures. </span><br /> <span style="font-family:"Arial Unicode MS"">Public vehicles have been ordered not to carry passengers more than their capacity. Only a limited number of passengers are allowed to travel on public vehicles on the basis of the vehicles' seating capacity. It is also mandatory to use of face mask and hand sanitizer for passengers, drivers and helpers of the vehicles. As per the cabinet decision, the public vehicles should be disinfected every day. Any passenger found not wearing masks will be fined Rs 10 for the violation. <br /> Likewise, the hotels and restaurants will be allowed to operate only from 8:00 am to 8:00 pm by applying health precautions and should provide home delivery service beyond the time fixed by the government.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The government has also restricted the gathering of more than 25 people in temples, mosques, monastery and churches, and other religious functions. Furthermore, prior approval from the local administration is expected for conducting social and religious functions at party palaces. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-20', 'modified' => '2021-04-20', 'keywords' => '', 'description' => '', 'sortorder' => '13042', 'image' => '20210420111424_20210416115657_1618526412.12.jpg', 'article_date' => '2021-04-20 11:13:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13296', 'article_category_id' => '1', 'title' => 'Production of Sack Industry Declines due to Lack of Raw Materials', 'sub_title' => '', 'summary' => 'April 19: As the second wave of the coronavirus is spreading across the globe, industries that produce sacks in Nepal have been facing shortage of raw materials.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">April 19: As the second wave of the coronavirus is spreading across the globe, industries that produce sacks in Nepal have been facing shortage of raw materials. Due to the lack of raw materials, the production capacity of these industries has been declining.<br /> There are around two dozen industries that produce sacks made of plastic, jute, and clothes in Nepal. The industries provide these bags to various factories such as the ones that produce grains and cement among others. At present, all these industries are facing shortage of raw materials. This has reduced the production capacity of all the industries by almost 50 percent.<br /> Sudip Jaiswal, proprietor of Pashupati Seal Pack Industry in Biratnagar, said that his industry has been facing problems in production of bags for the past two months due to lack of polypropylene. Nepal imports such raw materials from countries like Saudi Arabia, Malaysia, and India.<br /> He said that there is a problem in importing raw materials due to the increasing rate of coronavirus infection in those countries in recent days. "First of all, even if there is no problem in getting the raw materials, it takes months to reach Nepal due to the delay in shipment," he said.<br /> Due to the shortage of raw material and lengthy import process, the price of sacks has gone up in the country. According to industrialists, the production cost has risen by 25 percent this year compared to last year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">The price of sacks used for packing cement has gone up to Rs 19 from Rs 13. About 30 percent of the workers in such industries have lost their jobs due to the decline in production capacity.<br /> According to Nikhil Todi, proprietor of Shivam Plastic Industries, Nepali sack industries produce 5,000 metric tonnes of sacks per month. Of them, 40 percent of the bags are consumed in Nepal's domestic market, and the remaining 60 percent are exported to other countries, including India.<br /> Due to the decline in production capacity, the export market of these industries has also become uncertain. Likewise, due to the fall in production of sacks, industries that produce rice, pulses, flour, and cement have been facing shortage of bags, according to the industrialists.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13041', 'image' => '20210419044539_white-rice-sack-bag-isolated-260nw-709147009.jpg', 'article_date' => '2021-04-19 16:44:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13295', 'article_category_id' => '1', 'title' => 'Automobile Business Comes to a ‘Grinding Halt’', 'sub_title' => '', 'summary' => 'April 19: Due to recent surge in COVID-19 cases in India and its impact on import business, the automobile business in Nepal has come to a “complete halt” this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 19: Due to recent surge in COVID-19 cases in India and its impact on import business, the automobile business in Nepal has come to a “complete halt” this year. Entrepreneurs had expected that the auto business would gain momentum after the lockdown and restrictions were lifted but the sale has not been much encouraging. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The biggest auto sales take place in the country during the Nada Auto Show, which is held just before the Dashain festival. After that, New Year also contributes to major auto sales. Until two years ago, new models of vehicles used to be introduced in the country by mid-February. In the last two years, no such enthusiasm has been witnessed in the automobile industry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Sunil Rijal, General Secretary of Nepal Automobiles Dealers Association (NADA), said sales of auto have not been encouraging due to lack of enough supply to meet the increasing demand. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nevertheless, auto sales affected since last year due to the outbreak of COVID-19 is picking up. Similarly, banks’ higher capacity of lending has also led to a higher demand for automobiles. “However, the volume of sales has not increased due to the obstruction in supply chain. There is high demand for vehicles because of less volume of import,” Rijal said, adding that the demand for vehicles has not gone up despite revival of economic activities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Traders say that customers are more attracted towards private vehicles in the wake of Covid-19. There has not been any demand for public buses since the outbreak. Car brands like Suzuki, Tata, Mahindra, Hyundai among others have high demand but traders haven’t been able to import these brands on time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Owner of Naryani Automobiles and Secretary of NADA Anup Kumar Baral said the delivery of old bookings for vehicles have gradually started. “If the automobile industry in India remains unaffected due to this new wave of coronavirus, we are hopeful that sales will pick up pace from this year,” he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nepal’s automobile sector is dependent on Indian market. Most of the vehicle parts manufactured in India are imported from China. According to Indian media, rising conflict between India and China has led to shortage of vehicles parts in India. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13040', 'image' => '20210419042043_20150914010543_travel-map.jpg', 'article_date' => '2021-04-19 16:20:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13294', 'article_category_id' => '1', 'title' => 'Buddha Air to Operate Inter-Province Flights from Pokhara', 'sub_title' => '', 'summary' => 'April 19: Buddha Air, a leading private airlines company in Nepal, has decided to operate inter-province flights from its base in Pokhara.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">April 19: Buddha Air, a leading private airlines company in Nepal, has decided to operate inter-province flights from its base in Pokhara. The company will conduct test flights to four destinations from Gandaki, Lumbini and Bagmati provinces from Pokhara.<br /> Buddha Air will fly from Pokhara to Simara, Biratnagar, Nepalgunj, and from Bharatpur in Bagmati Province to Bhairahawa from Saturday, May 1. The company has been operating regular flights to these destinations from Kathmandu.<br /> The company has also fixed the airfare for the inter-province flights. The airfare for Pokhara-Biratnagar has been fixed between Rs 6,000 to Rs 10,800.<br /> Similarly, the Pokhara-Nepalgunj flight will cost a minimum of Rs 4,500 to a maximum of Rs 7,200. The airfare of the Pokhara-Simara flight will cost between Rs 4,300 to Rs 6,700, and the Pokhara-Bhairahawa flight will cost a minimum of Rs 3,100 to a maximum of Rs 3,900.<br /> Likewise, airfare for Tumlingtar-Biratganagar will vary from Rs 2,500 to Rs 3,200 and Rs 2,500 to Rs 4,000 for the Bhairahawa-Bharatpur flight.<br /> The fare is based on the operating cost of ATR-72, said Birendra Bahadur Basnet, managing director of the company.<br /> However, the company informed that the flight to these destinations will start from May 1 by operating Beachcraft. The company has demanded that the provincial government and the federal government provide special facilities for inter-province flights.<br /> Basnet informed that the airline company is planning to buy an additional aircraft by May 15. Pokhara is the second-largest city after Kathmandu, and Buddha Air has adopted a strategy to make it a base for domestic flights.<br /> Basnet informed that the company has been following 'Safety Guidelines against Covid-19' since the outbreak of the pandemic. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13039', 'image' => '20210419032057_20210122113025_20200323123412_aaa.jpg', 'article_date' => '2021-04-19 15:20:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13293', 'article_category_id' => '1', 'title' => 'ICT Sector Contributes 77.16 Million to Nepal's GDP', 'sub_title' => '', 'summary' => 'April 19: Information, Communication and Technology (ICT) sector has been contributing Rs 77.16 billion to the Gross Domestic Product (GDP) of the country, according to the Central Bureau of Statistics (CBS).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 19: Information, Communication and Technology (ICT) sector has been contributing Rs 77.16 billion to the Gross Domestic Product (GDP) of the country, according to the Central Bureau of Statistics (CBS).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In an interaction held on Saturday by the Society of Economic Journalists of Nepal (SEJON) on the ‘Role of telecom sector in GDP’, Ishwori Bhandari, Director of CBS, said the contribution of ICT to GDP stands at Rs 77.16 billion. This accounts for 2.22 percent of the total GDP of the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to CBS, in the fiscal year 2019/20, broadcasting sector contributed 0.48 percent, telecommunication sector contributed 1.47 percent and ICT contributed to 2.22 percent to the GDP. In the program, Prof. Dr. Pushparaj Kandel, Vice Chairman of the National Planning Commission said the contribution of this sector to the GDP is something to be proud of so ICT sector should also be developed as an industry. He said that ICT has been referred to as the driving force of economy in the 15<sup>th</sup> Plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"> Minister for Finance Bishnu Poudel said more improvements are necessary in the ICT sector to develop the country digitally and it will be prioritized in next year’s budget. The telecom sector of the country earns Rs 100 billion annually and provides employment to around 60,000 people. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13038', 'image' => '20210419022050_ict.jpg', 'article_date' => '2021-04-19 14:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13292', 'article_category_id' => '1', 'title' => 'Insurance Board to Seek Clarification from Agrawal', 'sub_title' => '', 'summary' => 'April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal, who has been suspended from his post for investing in the share market against the investment guidelines set by the board. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">The Insurance Board, the regulatory body of insurance companies in Nepal, had suspended Agrawal from the board member of the company last Friday (April 16).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Executive Director of Insurance Board, Raju Raman Poudel, confirmed that the board is making preparations to seek clarification from Agrawal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“We had temporarily removed him from the company’s board a few days ago for investing in the share market by breaching the investment guidelines. Now we will soon seek clarification from him,” Poudel told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“If we do not get a satisfactory answer, we can initiate the process to relieve him off his duties,” added Poudel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">During a field inspection, the Insurance Board found that the company had made investment against the Investment Guidelines 2075. The board decided to take action accordingly. Agrawal is not only a board member of the company but also the coordinator of the investment committee of the company. The Investment Board has concluded that the insurance company was involved in fraudulent investment at the behest of Agrawal.</span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13037', 'image' => '20210419093930_20200825040928_bima_samiti.jpg', 'article_date' => '2021-04-19 09:38:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13291', 'article_category_id' => '1', 'title' => 'Govt to Unveil New Programmes in Agriculture ', 'sub_title' => '', 'summary' => 'April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">During a programme organised at the ministry to discuss about the budget as well as policies and programmes for the upcoming fiscal year 2021/22, Minister Aryal said that some programmes in agriculture and animal husbandry sector could not be continued but new programmes would be run in an efficient way, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, parliamentarians present at the programme laid emphasis on enhancing production and use of organic fertilizer. They also demanded subsidy in agriculture. </span><br /> <span style="font-family:"Arial Unicode MS"">The MPs also drew the attention of the government to reduce risk from possible disaster and to make arrangements for distributing budget amount only from the local levels and ensure effective insurance scheme in agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS"">Lawmakers Khagaraj Adhikari, Bidya Bhattarai, Sujita Shakya, Maya Gyawali, Shanti Pakhrin, Komal Oli, Thammaya Thapa Magar and Dal Bahadur Rana were present on the occasion. </span></span></span></p> <p><span style="font-size:16px"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai.jpg" style="height:723px; width:800px" /></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13036', 'image' => '20210419091906_20201109032251_Clipboard02.jpg', 'article_date' => '2021-04-19 09:18:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13290', 'article_category_id' => '1', 'title' => 'Banks Demand Collateral Even for Concessional Loans', 'sub_title' => '', 'summary' => 'April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan. Bank and Financial Institutions (BFIs) have only disbursed 1.8 percent of the total concessional loan issued for agriculture at a subsidized interest rate of 5 percent as of mid-February. According to Nepal Rastra Bank, a total of Rs 88.29 billion have been distributed under the concessional loan category. Out of this, only Rs 1.60 billion have been distributed without collateral. The remaining Rs 86.69 billion has been disbursed by keeping collateral.<br /> As of mid-February, 38,355 people have benefited from the commercial farming and livestock loans at subsidized rate. A total of 2,542 people took such loans in between mid-January to mid-February. Although the credit flow without collateral is low, the number of borrowers and the total credit flow to the agricultural sector has increased.<br /> Government-owned banks are in the forefront in providing agricultural loans without any collateral. Agriculture Development Bank is in the top list of banks providing such loans. Out of the total loan of Rs 1.60 billion disbursed by banks without any collateral, the Agriculture Development Bank alone has released more than Rs 1 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times"> Hemal Poudyal, the spokesperson of Agriculture Development Bank, said that the bank disbursed between Rs 500,000 to Rs 1.5 million to around 1,600 people without collateral. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"As it is a state program, we have given collateral-free loans even if there is risk of loss," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">There is an arrangement for BFIs to allocate loans of Rs 300,000 to Rs 50 million under various headings. Banks can give up to Rs 50 million of such loans to the agriculture sector. Chairman of Nepal Bankers' Association Bhuvan Kumar Dahal informed that those who do not want to pay the loan or cannot do so often do not have collateral.<br /> Manoj Gyawali, Deputy General Manager of Nabil Bank, admits that it is natural for the banks not to disburse loans without collateral.<br /> "Banks do not want to risk their investment by disbursing loans without collateral," he said. "According to the NRB's provision, each branch of commercial banks has to give ten concessional loans, that is 500 loans per year," said Gyawali. Banks try to provide such loans on collateral. He said that the central bank has not barred them from keeping collateral for providing concessional loans.<br /> As of mid-February, BFIs have disbursed concessional loans to 77,198 borrowers under ten headings. Banks are yet to recover Rs 124.28 billion from the borrowers. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Apart from agriculture and livestock loans, BFIs have allocated most of the loans to women entrepreneurs. Banks have been providing concessional loans to women entrepreneurs at a subsidized interest rate of 6 percent.<br /> By mid-February, the number of women entrepreneurs taking women entrepreneurship loans from banks and financial institutions has reached 36,763. The NRB informed that loans amounting to Rs 32.95 billion have been disbursed during this period. In January, the number of such debtors was 30,465. During this period, loans amounting to Rs 27.05 billion was released.<br /> Under the concessional loan for education, 132 people have received Rs 61 million in the first eight months of the current fiscal year.<br /> Bankers argue that it is risky to give loans to young students by keeping their certificates as collateral.<br /> Under the heading of youth project loans for returnee migrant workers, 671 people are yet to pay back Rs 513.7 million. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Likewise, BFIs have released loans under the Dalit Community Business Development Loan to 733 individuals. The debt stands at Rs 456 million.<br /> So far, 88 people have received loans under higher education and technical and vocational education loans. There arrears is Rs 33.3 million. The flow of loan under this category has not increased encouragingly since January.<br /> The number of earthquake victims who have taken loans to build private houses has also increased.<br /> The number of such debtors has increased from 238 in January to 237 in February.<br /> Likewise, 205 industrialists have availed the concessional loan given by the government to promote the textile industries. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13035', 'image' => '20210418070636_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-04-18 19:05:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13289', 'article_category_id' => '1', 'title' => 'Contributors to SSF to get Discount on Treatment at Hospitals ', 'sub_title' => '', 'summary' => 'April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. SSF is making necessary preparations to provide discount on treatment at the hospitals from July to make the social security programme more effective. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to the SSF, until now contributors used to get the payment claims only after submitting necessary bills. After receiving complaints that this process is full of hassles, SSF has made all required preparations to provide 80 percent discount on the treatment at the hospital itself. Once this service is available, contributors to SSF will have to pay only 20 percent for the treatment that costs up to Rs 100,000.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kapil Mani Gyawali, executive director of the SSF said, “Contributors need not visit SSF office to claim the treatment amount. We are working to provide this facility directly from the hospital.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to him, SSF is in the process of signing agreements with the hospitals to this end. So far, agreements have been signed with about 105 hospitals in the provinces, including Kathmandu Valley. SSF has signed agreements with twenty hospitals in Province 1, sixteen in Province 2, twenty in Bagmati Province, eight in Gandaki Province, fourteen in Lumbini Province, ten in Karnali Province and seventeen in the Sudur Paschim Province. The list also includes TU Teaching Hospital and Bir Hospital of Kathmandu valley. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">SSF had planned to sign agreements with at least ten hospitals in each province. But it has exceeded its target under this plan. “We are planning to bring hospitals across the country under this plan and start giving service from July if the second wave of cornonavirus doesn’t affect this process,” said Gyawali.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Hospitals that have signed agreement with the SSF get the discount payment provided to contributors after they makes the claims with the SSF. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, SSF is making its programmes reasonable and practical to attract more employees. SSF which came into operation from 27<sup>th</sup> November, 2018 has 13,800 contributors. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13034', 'image' => '20210418023111_20191104101107_20190129043642_a.jpg', 'article_date' => '2021-04-18 14:30:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13288', 'article_category_id' => '1', 'title' => 'Digital Transformation Requires Stepped-Up Security Measures ', 'sub_title' => '', 'summary' => 'April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. A huge chunk of population has started doing digital transactions following the lockdown that restricted physical movement. There has been a sharp rise in the number of transactions done through electronic and internet platforms. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In the month of Shrawan 2077 (mid July/mid Aug 2020), transaction worth Rs 18.39 billion took place through mobile banking. Number of such transactions has increased to Rs 40.35 billion in the month of Chaitra (mid Feb/mid March). Likewise, transactions worth Rs 51.3 billion were done through connectIPS in the month of Shrawan (mid July/mid Aug) which went up to Rs 110 billion in the month of Chaitra (mid Feb/mid March).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The growth in the digital transactions is positive news for all the electronic service providers but with this growth also comes digital risks like data loss, identity theft, and financial loss. In this context, Rebati Adhikari of New Business Age talked with Prabesh Poudel, Information Security Officer (ISO) at Nabil Bank to seek his views on importance of digital security in banking sector. Excerpts:</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">With increase in digital banking, how important is digital security? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Today, in one form or another, every bank is on the path to digital transformations, with digital payments moving ahead at high speed. But a</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">t the same time, in the lack of proper security controls in place, there are chances that banks could suffer major service failures due to their inability to manage digital risk. So, while we talk about digital transformation, security transformation cannot be left behind but must go hand in hand. </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In this new digital world, the implementation of new digital technology not only requires system implementation but also requires focus on areas related to digital security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of security measures banks should employ to ensure digital security?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">A complete security strategy has to be in place to protect information assets. Security has to be looked from different aspects such as secured technology infrastructure, on-going security assessment, on-going security monitoring and most importantly security culture. All these have to be guided by strong policies and procedures. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Threat actors have shifted efforts to target end users by exploiting user behavior by misleading users into opening and executing a malicious file, going to a malicious site or handing over information, typically using lures which create urgency (eg lottery payment) or leverage current crises and events (eg covid fund).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So in this scenario, one of the challenging things in today’s context specially in the case of Nepal is security awareness. So, only secured system will not help in strengthening information security, but user awareness is as important as that. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Is banking sector experiencing more risks from mobile banking apps? What should be done to minimize it? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security threats exist everywhere be it traditional banking or modern banking with digital channels, but how you take the precautions is something that plays the major role.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Yes, with a mobile app there are potential vulnerabilities related to the security of the app itself, vulnerabilities in code and also potential vulnerabilities related to the transmission of information. In addition, threats coming from unawareness of the consumers is even more critical. There have been instances in Nepal in which mobile banking users are found to have shared their password/OTP with fraudsters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So to list some of the preventive measures, before installing any mobile app, complete vendor assessment ie assessment of technology service provider is very important. This should be followed by VAPT (Vulnerability Assessment and Penetration Testing) of system itself to ensure system is secured before LIVE implementation. But it does not end here because security is an on-going process as new threats are evolving day by day, so an on-going security assessment, security monitoring, security awareness to consumers is a must. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can use a security awareness training program to educate their employees as well as customers about the importance of data security. Say for example when Multi Factor Authentication is implemented in any system, customers should also be aware of its importance so that he doesn’t share password/OTP with anyone with wrong intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So, it’s no longer about just the individual components of security framework. Focus must be on how they are orchestrated to build a more effective security posture.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of mechanism should bank set up to monitor/respond to cyber threats? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security monitoring is one of the important components of information security and the best way to do is by establishment of Security Operations Centre (SOC), which includes a team of security experts and the facility in which they dedicate themselves entirely for monitoring, analyzing and reporting information. A SOC team monitors cyber security threats on the basis of logs from various critical system 24/7 and detects and responds to any security incidents it oversees and then alerts the bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can establish SOC in-house with their own team or may outsource it to professional and reliable third-party. There are multiple companies in Nepal that have been providing ‘Managed SOC’ service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of significance information security audit holds?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Information security audit will help in comprehensive assessment of a bank’s information system and can help identify system weakness and vulnerabilities in IT infrastructure. In addition, it also verifies the bank’s policies and procedures, security controls, ensures regulatory compliance and many more.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Such audit will definitely help in continual improvement of security posture of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, the most important thing while conducting such external audit is to ensure such audit firm comprises of professional team with enough experience, expertise and standard certification like CISA/ISO 27001 etc for conducting information security audit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13033', 'image' => '20210418021204_iStock-514571236-768x508.jpg', 'article_date' => '2021-04-18 14:10:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $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 |
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| 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
