Launchpad 2021 aims to Bring Job Seekers and Employers Under One Roof

Mar 05, 2021 0 2 minutes 1 seconds to read

March 5: PeopleFirst, an organization working to uplift human resources in Nepal, is organising a three-day career and job fair, Launchpad 2021, from March 11 to 13 in Kathmandu.…

FHAN Organising Women’s Handicraft Fair 2077

Mar 05, 2021 0 2 minutes 42 seconds to read

March 5: On the occasion of the 111th International Women’s Day, the Federation of Handicraft Association of Nepal (FHAN) and Lalitpur Metropolitan City are jointly organising Women Handicraft Fair 2077 with the slogan “Promoting Handicraft, Promoting Women Empowerment”.…

Industrialists Seek for Debt Recovery Law

Mar 05, 2021 0 3 minutes 4 seconds to read

March 5: Industries that are trying to bounce back from the impact of the COVID-19 pandemic have sought for debt recovery law from the government to recover their outstanding dues from the market.…

Prime Minister Oli says Nepal will be Self-Reliant on Food within 5 Years

Mar 05, 2021 0 2 minutes 2 seconds to read

March 5: Prime Minister KP Sharma Oli has claimed that the country will become self-reliant on food grains within the next five…

Domestic Airliners Hike Airfare from Today

Mar 05, 2021 0 2 minutes 41 seconds to read

March 5: Domestic airline operators have decided to increase the airfare of all domestic flights from today (March 5) due to the rise in the price of Aviation Turbine Fuel (ATF) sincce March…

More Women Entrepreneurs Borrowing from Financial Institutions due to Pandemic

Mar 05, 2021 0 3 minutes 47 seconds to read

March 5: Despite the effects of Covid-19 pandemic, loans offered to women entrepreneurs have increased by 85 percent in the last seven months.…

Buddha Air to fly on Janakpur-Ayodhya Route

Mar 05, 2021 0 1 minutes 24 seconds to read

March 5: Buddha Air is operating direct flights to Ayodhya of India from Janakpur of Nepal for the promotion of religious tourism.…

Nepal’s economy plunges into recession

Mar 04, 2021 0 3 minutes 1 seconds to read

March 4: Nepal’s economy has plunged into a recession for the first time in its history as GDP witnessed negative growth rates for two consecutive quarters.…

Private Sector Upbeat as Government Holds Talks with Biplav-led Party

Mar 04, 2021 0 2 minutes 47 seconds to read

March 4: The private sector of Nepal is upbeat about the government holding talks with the outlawed Communist Party (CPN) of Nepal led by Netra Bikram Chand (Biplav), as it will pave the way for economic…

Finance Ministry to Release Rs 1.8 Billion for Health Facilities in 113 Local Units

Mar 04, 2021 0 1 minutes 31 seconds to read

March 4: The Ministry of Finance has decided to release conditional grant of Rs 1.8 billion rupees for under-construction health facilities in 113 local…

Gold Dealers Shift Focus toward Exporting Jewellery

Mar 04, 2021 0 2 minutes 11 seconds to read

March 4: The sales of gold jewellery in the domestic market of Nepal have declined due to the rise in inflation rate and the Covid-19…

Govt Initiates Process to Launch Water Transportation: Minister Nembang

Mar 04, 2021 0 1 minutes 26 seconds to read

March 4: Minister for Physical Infrastructure and Transport, Basant Kumar Nembang, has said the government has already forwarded the process to launch water transportation in the big rivers of the country, according to the state-run national news agency…

Nepal Rastra Bank raises daily limit for internet, mobile payments

Mar 03, 2021 0 1 minutes 5 seconds to read

Daily limit for transactions through mobile banking hiked to Rs 100,000, merchant payment through internet to Rs 2 million and fund transfer through internet to Rs 2 million…

Price of Iron Rods Increases with the Rise in Cost of Billet

Mar 03, 2021 0 2 minutes 1 seconds to read

March 3: At a time when the production capacity and consumption of cement and rod industries has been increasing, the price of iron rods has also gone up.…

Import of Electric Vehicles Declines by 50 Percent

Mar 03, 2021 0 2 minutes 5 seconds to read

March 3: The import of electric vehicles into the country has declined by half in the first seven months of the current fiscal year 2021/21 due to heavy taxes levied on them.…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

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NEPSE

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			'id' => '13133',
			'article_category_id' => '1',
			'title' => 'Launchpad 2021 aims to Bring Job Seekers and Employers Under One Roof',
			'sub_title' => '',
			'summary' => 'March 5: PeopleFirst, an organization working to uplift human resources in Nepal, is organising a three-day career and job fair, Launchpad 2021, from March 11 to 13 in Kathmandu. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial">March 5: PeopleFirst, an organization working to uplift human resources in Nepal, is organising a three-day career and job fair, Launchpad 2021, from March 11 to 13 in Kathmandu. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Issuing a statement on Thursday, March 4, PeopleFirst said that Launchpad 2021 is an equal opportunity event for job seekers and employers alike. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">&ldquo;It gives employers the opportunity to meet, inform and interview hundreds of potential candidates while job seekers get the chance to know more about the quality of workforce demanded by companies, the skills and the mindset required in the present workplace scenarios,&rdquo; the statement added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">According to the organiser, Launchpad 2021 takes a holistic approach towards the promotion of market efficiency- placing the right people with the right skills at the right placement.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">The statement informs that career counselling seminar and panel discussions will take place over a virtual platform on 11th and 12th of March 2021 respectively. Career Counselling Seminar which will be conducted by the Vice Dean of Johns Hopkings University aims to guide participants by making them aware about the requirements of various job opportunities available throughout the world.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">In panel discussions, the panelists will be sharing their expertise regarding human resource planning and various employee hiring policies. Meanwhile, the job expo will be conducted on 13th of March 2021 at Radisson Hotel, Kathmandu, where employers and job seekers will meet under one roof to personally interact with each other, the statement further reads.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Understanding the need of the rift that the recent pandemic has created in the job market, PeopleFirst said it has come up with an excellent opportunity for all the job givers and seekers. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Launchpad is being organised in partnership with Kathmandu College of Management (KCM), Nepalese Young Entrepreneurs&#39; Forum (NYEF), Turkish Airlines, KTM CTY, iClean technology, Mastakala, Maitreya Furniture, New Business Age, Events Mo and CSIT.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'FHAN Organising Women’s Handicraft Fair 2077 ',
			'sub_title' => '',
			'summary' => 'March 5: On the occasion of the 111th International Women’s Day, the Federation of Handicraft Association of Nepal (FHAN) and Lalitpur Metropolitan City are jointly organising Women Handicraft Fair 2077 with the slogan “Promoting Handicraft, Promoting Women Empowerment”. ',
			'content' => '<p><em>File Photo: NBA</em></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">March 5: On the occasion of the 111<sup>th</sup> International Women&rsquo;s Day, the Federation of Handicraft Association of Nepal (FHAN) and Lalitpur Metropolitan City are jointly organising Women Handicraft Fair 2077 with the slogan &ldquo;Promoting Handicraft, Promoting Women Empowerment&rdquo;. The fair is scheduled to be held from March 6 to March 8, 2021 on the premises of Lalitpur Metropolitan City. </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:&quot;Times New Roman&quot;">According to a press statement issued by the organisers, the event aims to promote the handicraft products made by women entrepreneurs. </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:&quot;Times New Roman&quot;">There will be around 50 stalls in the fair. Products made of natural fibers such as ketuke, cardamom, banana, allo, and bamboo, as well as woodwork, silver and metal jewelry, felt, crystal goods, bone and horn products, beads, products made from wool, cotton and Dhaka, pashmina, handmade paper goods, ceramics, and glass products will be kept for exhibition and sale. </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:&quot;Times New Roman&quot;">Women and indigenous entrepreneurs, who are involved in cottage and small producers, from different places of Kathmandu will be involved in the fair and help in promotion and market development of local handicraft. </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:&quot;Times New Roman&quot;">The press statement further reads, &ldquo;This kind of fair is expected to help women entrepreneurs in business promotion and development and boost their self-confidence.&rdquo; </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:&quot;Times New Roman&quot;">The trade fair will be attended by high ranking officials of the Government of Nepal, local government, different orgnisations, businessmen involved in handicraft industry, exporters and personalities representing various local organizations and the general public.</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:&quot;Times New Roman&quot;">As per the press statement, the fair will be inaugurated by Chiribabu Maharjanju, Mayor of Lalitpur Metropolitan City. </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:&quot;Times New Roman&quot;">The FHAN is celebrating the Handicraft Year by organising various promotional programs throughout the year with the slogan &quot;Possibilities for Prosperity of Handicrafts &quot;. Similarly, a women&#39;s handicraft fair was organized in Janakpurdham of Province No. 2 in the first phase with the support of the Government of Nepal, Ministry of Women, Children and Senior Citizens from 14 February to 16 February, 2021. In the second phase, the fair is being organised in Lalitpur. </span></span></span></span></p>
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			'id' => '13131',
			'article_category_id' => '1',
			'title' => 'Industrialists Seek for Debt Recovery Law',
			'sub_title' => '',
			'summary' => 'March 5: Industries that are trying to bounce back from the impact of the COVID-19 pandemic have sought for debt recovery law from the government to recover their outstanding dues from the market. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 5: Industries that are trying to bounce back from the impact of the COVID-19 pandemic have sought for debt recovery law from the government to recover their outstanding dues from the market. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Industrialists have asked for a policy-level decision to include debt recovery provision from the upcoming year&rsquo;s budget. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">With an end to political transition, the flow of investment has increased with expectation of increase in the development activities. But the market size has downsized leading to competition. Industrialists say that the market size has declined because of the weak spending of the government coupled with the impact of COVID-19 pandemic. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Due to heavy competition within the limited market, traders say they are compelled to provide services on credit. Traders have sought for debt recovery law to manage this chaotic market and reduce its long-term impact on economy. Expecting a rise in economic activities, food production sector and construction materials industry have made huge investments. Industries involved in production of cement, rod, and food items such as rice, oil, pulses have received new investment. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;These industries are still receiving new investment,&rdquo; said Subodh Gupta, president of the Association of Rice, Oil and Pulses Industry. As the market has not increased in proportion to the investment, industries are opting for ways to minimize loss, Gupta said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Increase in competition has made industries to extend credit period. In the initial phase, industries were trying to sustain in the market by reducing the market price. Right now, industries are extending the credit period,&rdquo; said Biswamitra Prasad Kalwar, managing director of Om Food Industry. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Gupta said the Association has been asking for debt recovery law with the government since last year. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Because of the pandemic, the demand of the essential food items has also gone down which indicates the purchasing power of customers has also gone down,&rdquo; said Gupta. COVID-19 pandemic has affected progress of development projects as well. The market demand of construction materials has also declined since the government couldn&rsquo;t make capital expenditure effective. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Unhealthy competition is on the rise with the decline in demand and increase in investment,&rdquo; said Rajesh Kyal, an industrialist. &ldquo; At normal times, credit transactions are being done for a period of a month which now has increased to more than six months,&rdquo; Kyal said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Traders say that if legal provision is introduced limiting credit period for a month, capital can be arranged for another five months. With the arrangement of capital, the production cost can also be reduced, argues Gupta. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Lack of strict provisions on credit period has invited chaos in the market. If mandatory provision is introduced, it will assist in reducing burden of interest rate along with the production cost,&rdquo; said Pradip Kediya, former President of Birgunj chapter of the Federation of Nepalese Chambers of Commerce and Industry. </span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13130',
			'article_category_id' => '1',
			'title' => 'Prime Minister Oli says Nepal will be Self-Reliant on Food within 5 Years ',
			'sub_title' => '',
			'summary' => 'March 5: Prime Minister KP Sharma Oli has claimed that the country will become self-reliant on food grains within the next five years.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">March 5: Prime Minister KP Sharma Oli has claimed that the country will become self-reliant on food grains within the next five years.</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:&quot;Times New Roman&quot;">He made such remarks while laying the foundation stone of the Sunkoshi Marin Diversion Multipurpose Project on Thursday (March 4) and added that the country will also be able to export them by that time. </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:&quot;Times New Roman&quot;">The construction of the diversion project has been started with the aim of providing irrigation to 183,000 bigahas of land in five districts of the Terai (Bara, Rautahat, Sarlahi, Mahottari and Dhanusha) and generating 31 MW of electricity. PM Oli said that once the irrigation facility is available, the food grains produced in those districts will not only be sufficient for Nepal and will also be in excess for export.&nbsp; </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:&quot;Times New Roman&quot;">In a separate context, PM Oli also said that the government is now working on a plan to extend 4G service across the country through optical fiber. </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:&quot;Times New Roman&quot;">The water of Sunkoshi from the project will be discharged into the Marin River at the rate of 67,000 liters per second. This water will then be released into the Bagmati River to provide irrigation facility. Under this project, a 158-meter long barrage, 150-meter long descending basin and 13.3 km long tunnel will be constructed from Khurkot of Sindhuli over the Sunkoshi River. </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:&quot;Times New Roman&quot;">The electricity generated from the project will be connected to the national grid through a 44 km long transmission line through the substation at Nawalpur in Sarlahi. The project is expected to be complete in FY 2082/83. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13129',
			'article_category_id' => '1',
			'title' => 'Domestic Airliners Hike Airfare from Today ',
			'sub_title' => '',
			'summary' => 'March 5: Domestic airline operators have decided to increase the airfare of all domestic flights from today (March 5) due to the rise in the price of Aviation Turbine Fuel (ATF) sincce March 1.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">March 5: Domestic airline operators have decided to increase the airfare of all domestic flights from today (March 5) due to the rise in the price of Aviation Turbine Fuel (ATF) sincce March 1.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Airline Operators Association of Nepal (AOAN), the umbrella body of domestic airlines in Nepal, issued a statement on March 4 informing that all its member airlines will increase the airfare of all domestic flights effective from March 5.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">According to AOAN, its members, in coordination with the Civil Aviation Authority of Nepal (CAAN), have decided to increase the airfare following the decision of Nepal Oil Corporation (NOC) on March 1 to increase the price of ATF.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Nepal Oil Corporation (NOC) increased the price of ATF for domestic flights by Rs 5 per litre from midnight on March 1.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Previously, NOC had increased the price of ATF on February 16, and domestic operators had raised the airfare on February 20. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The airfare is determined based on three components- airfare fixed by the government, fuel surcharge, and airport taxes.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">AOAN along with CAAN and the Ministry of Tourism have set a pricing formula comprising of all three components of airfare pricing. Based on the formula, the airfare is determined and approved by CAAN.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">According to a statement issued by AOAN, the association and its member airlines have decided to increase the airfare inline with the government&#39;s decision on May 10, 2018, to allow AAON and airline operators to adjust the fuel surcharge in accordance to the fuel price.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">After the rise, the airfare of mountain flights from Kathamndu has increased by Rs 170. The price has been fixed at Rs 2470.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Likewise, the airfare of the Kathmandu-Bhadrapur fligh has been increased by Rs 60 per person.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The price of Kathmandu-Dhangadhi flight has been increased by Rs 220 per person while the airfare of the Kathamndu-Pokhara flight has been increased by Rs 80 per person.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Kathamndu-Simara airfare has also been increased by Rs 45 with the rise in fuel surcharge of Rs 45. The airfare of Doti-Sanfebagar route has increased by Rs 20. </span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'More Women Entrepreneurs Borrowing from Financial Institutions due to Pandemic',
			'sub_title' => '',
			'summary' => 'March 5: Despite the effects of Covid-19 pandemic, loans offered to women entrepreneurs have increased by 85 percent in the last seven months. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">March 5: Despite the effects of Covid-19 pandemic, loans offered to women entrepreneurs have increased by 85 percent in the last seven months.&nbsp; According to South Asia Watch on&nbsp; Trade, Economics and Environment (SAWTEE), such information was shared during a webinar organized on March 4 on the impact of the COVID-19 on women entrepreneurs in Nepal.</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">By mid-July 2020 financial institutions&rsquo; lending to women entrepreneurs stood at Rs 4 billion while the amount has reached Rs 27 billion as of now, informed Dr Gunakar Bhatta, executive director of Nepal Rastra Bank (NRB) at the webinar titled &lsquo;Towards recovery: Women entrepreneurs coping with the pandemic&rsquo; organised by SAWTEE. He also pointed out that the number of female borrowers has also increased three folds during the period.</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">Highlighting the difficulty in access to finance experienced by the women entrepreneurs, Chandni Joshi, senior gender, rights and policy specialist, expressed that investing in women should not be considered a charity but as a smart decision. She urged the private sector to invest in women-owned/-led businesses as viable business decisions.</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">Shobha Gurung, vice president of the Federation of Nepalese Cottage and Small Industries (FNCSI), pointed out the difficulty faced by their members as the economic activities shut-down but they also utilized the period to enhance the digital and financial literacy of the members. She pointed out that during disasters like these, small businesses need more support from the government to survive.</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">Reeta Simha, president&nbsp; of the Federation of Women Entrepreneurs&rsquo; Association of Nepal (FWEAN), also seconded that suggestion. She also insisted along with the soft skills entrepreneurs need better support in the form of finances for their recovery and revival.</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">Dr Mona Shrestha Adhikari, CEO of Enterprise for Management, Economic Reform and Gender Equality (EMERGE), added that women entrepreneurs need more support to help transition from brick-and-mortar setting to digital. She added more analysis is needed to examine disaster impacts through a gender lens.</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">According to a statement issued by SAWTEE, the webinar was organized to disseminate the findings of a small-scale survey of women entrepreneurs engaged in the manufacturing sector to examine the impact of the pandemic on their ability to do business. The survey found that 61 percent of the women-owned businesses reported having been affected severely by the pandemic and the lockdown measures; 57 percent of the respondent sought loans to cope with the pandemic; 56 percent of the respondents used e-commerce platforms for sales or promotion during the period. Further, 92 percent of the respondents were not aware of any support facilities offered by the government, the statement quoted Dikshya Singh, senior research officer of SAWTEE, as saying.</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">Dr Posh Raj Pandey, chairman of SAWTEE, pointed out the lack of mentorship offered to women entrepreneurs, by private sector associations, government and civil society, during the pandemic to help them innovate and shift towards the digital landscape.</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">The participants in the webinar included women entrepreneurs, representatives from civil society, policymakers and academia. The participants pointed out limited access to information for the women entrepreneurs that inhibits their ability to expand their businesses. Similarly, they also insisted that the difficulty in accessing finance needs to be addressed for enhancing women&rsquo;s participation in the entrepreneurial ecosystem.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>
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			'description' => '',
			'sortorder' => '12874',
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			'article_date' => '2021-03-05 08:46:34',
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	(int) 6 => array(
		'Article' => array(
			'id' => '13127',
			'article_category_id' => '1',
			'title' => 'Buddha Air to fly on Janakpur-Ayodhya Route   ',
			'sub_title' => '',
			'summary' => 'March 5: Buddha Air is operating direct flights to Ayodhya of India from Janakpur of Nepal for the promotion of religious tourism.     ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">March 5: Buddha Air is operating direct flights to Ayodhya of India from Janakpur of Nepal for the promotion of religious tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Buddha Air stated that it was going to expand its flight service to Ayodhya with the goal of attracting religious tourists on the basis of the ancient, religious relations between the two important religious cities.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The relation between Sita and Ram continues from the &lsquo;Treta Yug&rsquo; and operation of direct flight from Janakpurdham to Ayodhya is to connect these two cities that have a historical and religious connection. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Buddha Air has applied to the Ministry of Culture, Tourism and Civil Aviation and to the Civil Aviation Authority of Nepal (CAAN) for permission for operating the flight. It has also sent a memo of the application to the Province 2 government.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Agreement had been signed for establishing sister city relations between Janakpur and Ayodhya, promotion of the &#39;Ramayana Circuit&#39;, among others during the visit of Indian Prime Minister Narendra Modi to Nepal three years ago.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The duration of flight from Janakpur to Ayodhya would be 50 minutes. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'article_date' => '2021-03-05 08:45:51',
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	(int) 7 => array(
		'Article' => array(
			'id' => '13126',
			'article_category_id' => '1',
			'title' => 'Nepal’s economy plunges into recession ',
			'sub_title' => 'CBS revised forecasts show a sharp contraction in GDP for two consecutive quarters, sending Nepal’s economy into recession between mid April and mid September due to Covid-19     ',
			'summary' => 'March 4: Nepal’s economy has plunged into a recession for the first time in its history as GDP witnessed negative growth rates for two consecutive quarters.  ',
			'content' => '<p><em><strong>SAGAR GHIMIRE</strong></em><br />
March 4: Nepal&rsquo;s economy has plunged into a recession for the first time in its history as GDP witnessed negative growth rates for two consecutive quarters.</p>

<p>According to newly released GDP figures by the Central Bureau of Statistics (CBS), the economy shrank 15.4 percent in the fourth quarter of the last fiscal year 2019/20 followed by a contraction of 4.6 percent in the first quarter of the current fiscal year 2020/21.&nbsp;</p>

<p>The CBS forecast of declines in GDP growth for two consecutive quarters meet the standard definition for recession, according to economists. This is the first time that the economy has gone into recession since the CBS started to publish the National Accounts report in 1961/62, according to a senior official at the Nepal Rastra Bank (NRB).</p>

<p>&ldquo;These forecasts of GDP declines show that the economy was in recession during this period. We have not seen such deep contraction in the GDP since CBS started to publish the National Accounts report in 1961/62. There has not been a decline for two consecutive quarters since the CBS started to release quarterly figures in 2004/05,&rdquo; said the senior official at the NRB, requesting anonymity as he is not authorized to comment on growth figures.</p>

<p>Economists also agree that the contractions represent the recession that Nepal&rsquo;s economy underwent for at least six months.</p>

<p>&ldquo;The quarterly data shows that the economy is technically in a recession, but recovery is underway. The extent of contraction is less in the first quarter of the current fiscal year 2020/21 compared to the fourth quarter of the last fiscal year 2019/20,&rdquo; Chandan Sapkota, an economist, told New Business Age.<br />
Covid-19 is the main culprit for the contraction in the economy, according to officials and economists.</p>

<p>As the government imposed nationwide lockdown in March last year for nearly four months to contain the spread of coronavirus, economic activities in almost all sectors collapsed.<br />
The impact of the lockdown in the economy at the fourth quarter was so significant that it pulled the growth rate of the entire fiscal year into the negative territory.<br />
The CBS forecasts that the Nepal&rsquo;s economy slumped 1.99 percent in the last fiscal year, down from its preliminary estimate of a growth by 2.27 percent.<br />
In its preliminary forecast released in April, the CBS had painted somewhat rosy growth prospect for Nepal even when other countries were reporting a sharp contraction in their economies.</p>

<p>CBS officials say that their preliminary forecast was based on an assumption that the lockdown would be short-term and end by June which would lead economic activities to normality.&nbsp; &nbsp;</p>

<p>&ldquo;The country was in a complete lockdown until mid July last year which disrupted most of the economic activities longer than we had anticipated in our preliminary forecast,&rdquo; said Ganesh Prasad Acharya, a director at National Account Section at the CBS.</p>

<p>The CBS move to change the base year for the calculation of GDP estimates&mdash;a process known as rebasing of National Account statistics&mdash;is also said to have contributed to the decline of GDP growth to some extents. The base year 2000/01 has now been replaced with 2010/11.&nbsp; &nbsp;</p>

<p>&ldquo;Rebasing increased the share of services sector in GDP but reduced that of agri. High contact services sectors such as retail and wholesale, and travel and tourism were battered by COVID-19 and the lockdowns. This contributed to deeper contraction,&rdquo; said Economist Sapkota.</p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '13125',
			'article_category_id' => '1',
			'title' => 'Private Sector Upbeat as Government Holds Talks with Biplav-led Party',
			'sub_title' => 'Maoist Outfit led by Netra Bikram Chand Gives up Violence following a 3-Point Deal with Government',
			'summary' => 'March 4: The private sector of Nepal is upbeat about the government holding talks with the outlawed Communist Party (CPN) of Nepal led by Netra Bikram Chand (Biplav), as it will pave the way for economic development.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 4: The private sector of Nepal is upbeat about the government holding talks with the outlawed Communist Party (CPN) of Nepal led by Netra Bikram Chand (Biplav), as it will pave the way for economic development.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The private sector is keeping fingers crossed for the success in negotiations with the Biplav-led party as it will assist in creating an investment friendly environment, increase industrial production and facilitate export and import system.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Rajesh Kaji Shrestha, president of Nepal Chambers of Commerce (NCC), said it will be a significant achievement if the talks with the party involved in conflict end successfully. It will help in effective implementation of the constitution by ending political instability.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Satish Kumar More, president of the Confederation of Nepalese Industries (CNI), said it is a positive thing that the government has initiated talks with the party that has raised armed conflict. He opined that all the parties should come into mainstream politics and empower the country financially. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;If the parties involved in violent activities come into peace politics, industries can increase production and consolidate import system. If the government brings all the parties into mainstream politics, it will create suitable environment for the private sector to work and the ambitious goals set by the government can be achieved,&rdquo; he said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Home Minister Ram Bahdur Thapa in a recent Facebook post said that the government has reached historic agreement with the Biplav-led party.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The talks were held in two phases on Wednesday - morning and evening &ndash; and also continued on Thursday. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Minister Thapa said that the government has reached a three-point understanding with the CPN and the talks have concluded successfully. According to Minister Thapa, the Maoist outfit has agreed to give up violence and organize all its political activities peacefully. Meanwhile, the government has also agreed to lift the ban on the outfit and also to release all its political prisoners, reads the agreement paper posted on Facebook by Minister Thapa. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Home Minister Ram Bahadur Thapa and Prime Minister&rsquo;s Foreign Advisor Rajan Bhattarai had represented the government during the talks while Khadga Bahadur Biswokarma and Uday Chalaune attended the meetings on behalf of the Biplav-led party. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Minister Thapa and Bishokarma were fellow warriors during the decade-long Maoist insurgency. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The Cabinet Meeting in March 2019 had banned Biplav-led party after it engaged in criminal activities such as arson, bomb blasts, and vandalism. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/156586457_941748426364789_5811160874880962503_o.jpg" style="height:1469px; width:1000px" /></span></span></p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '13124',
			'article_category_id' => '1',
			'title' => 'Finance Ministry to Release Rs 1.8 Billion for Health Facilities in 113 Local Units',
			'sub_title' => '',
			'summary' => 'March 4: The Ministry of Finance has decided to release conditional grant of Rs 1.8 billion rupees for under-construction health facilities in 113 local units.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">March 4: The Ministry of Finance has decided to release conditional grant of Rs 1.8 billion rupees for under-construction health facilities in 113 local units.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;Finance Minister Bishnu Prasad Poudel has approved the grant for the health facilities being constructed at ward levels of the local units. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has adopted a policy to avail health service at all wards of the local units. As per this policy, a total of 2,626 health facilities are currently being constructed. The government will release the fund under the heading of budget transfer upon completion of the work.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to spokesperson of Finance Ministry Suman Dahal, the government has allocated Rs 4.2 billion for the construction of health facilities in the current fiscal year. The ministry has already released Rs 2.69 billion for the purpose.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry had secure source of investment worth Rs 57.97 billion for constructing basic health facilities in each and every local unit. After finalizing the budget, the government had laid the foundation stones for constructing health facilities in 308 local units on November 30, 2020.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '13123',
			'article_category_id' => '1',
			'title' => 'Gold Dealers Shift Focus toward Exporting Jewellery ',
			'sub_title' => 'Demand for Gold High Among Nepali Expats',
			'summary' => 'March 4: The sales of gold jewellery in the domestic market of Nepal have declined due to the rise in inflation rate and the Covid-19 pandemic.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">March 4: The sales of gold jewellery in the domestic market of Nepal have declined due to the rise in inflation rate and the Covid-19 pandemic. As a result, gold traders have started exporting gold ornaments abroad. According to the Customs Department data, entrepreneurs have been exporting jewellery from the beginning of the current fiscal year.<br />
The last time Nepal exported gold jewellery was in FY 2016/17. Gold jewellery items of 615 kg were exported to China in FY 2016/17. Since, then Nepal had not exported gold jewelry, according to the customs department. However, traders say that a small amount of gold jewellery may have been exported abroad during the period.<br />
The data from the department show that the large-scale export of gold jewellery started only from the beginning of the current fiscal year.<br />
According to the statistics of the department, in the first 7 months of the current fiscal year, gold jewellery worth Rs 156.769 million have been shipped abroad. During this period, 12 kg of gold jewellery have been exported.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">Krishna Bajagain, a senior officer at the Trade and Export Promotion Center, informed that Nepal has recently started exporting gold jewellery.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">&nbsp;&quot;Until last year, there was not much export of such jewellery. However, it is growing this year,&quot; he informed.<br />
Jewellery worth Rs 17.37 million were exported in the first month of the current fiscal year.<br />
According to the department, Nepal is currently exporting gold jewellery to Australia, Hong Kong, and the United States.<br />
Lately, the number of Nepali nationals settling in Australia, Honk Kong and the USA has been growing.<br />
President of the Federation of Nepalese Gold and Silver Dealers Association Manik Ratna Shakya informed that gold ornaments are demanded by the Nepalis living abroad.<br />
He informed that the demand for gold is growing among Nepali nationals living abroad. &quot;They prefer jewellery made in Nepal,&quot; he added.<br />
He informed that some businessmen have been exporting jewellery made in Nepal through their business partners abroad. Apart from this, Nepalis who go abroad also carry gold jewellery through &#39;hand luggage&rsquo;, Shakya shared.<br />
&quot;Looking at the current growth, it seems that the export of gold jewellery will also increase in the coming days. Therefore, the government needs to immediately increase the quota of gold import,&quot; he added.</span></span></span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '13122',
			'article_category_id' => '1',
			'title' => 'Govt Initiates Process to Launch Water Transportation: Minister Nembang',
			'sub_title' => '',
			'summary' => 'March 4: Minister for Physical Infrastructure and Transport, Basant Kumar Nembang, has said the government has already forwarded the process to launch water transportation in the big rivers of the country, according to the state-run national news agency RSS.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">March 4: Minister for Physical Infrastructure and Transport, Basant Kumar Nembang, has said the government has already forwarded the process to launch water transportation in the big rivers of the country, according to the state-run national news agency RSS.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">RSS stated that the minister made such announcement during a ministerial level virtual meeting organized by India on &#39;Maritime India Summit 2021&#39; on Tuesday, March 2.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He shared that study is underway to conduct water transportation in the Karnali, Narayani, Kaligandaki and Koshi Rivers and connect India via waterways. The government is actively involved in implementing the agreement, treaty and the international commitment relating to water transportation, RSS quoted the minister as saying.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;Nepal has been making efforts since a long time to conduct water transportation,&quot; Minister Nembang said, reminding that Nepal had brought the Act on Operation of Ship way back in 1971. He further said the present government has given top priority to the water transportation.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Moreover, Minister Nembang argued that transportation is the basic infrastructures to ensure development and prosperity in the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The three-day summit inaugurated by Indian Prime Minister Narendra Modi will conclude today (March 4). </span></span></span></p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '13121',
			'article_category_id' => '1',
			'title' => 'Nepal Rastra Bank raises daily limit for internet, mobile payments ',
			'sub_title' => 'Daily limit for transactions through mobile banking hiked to Rs 100,000, merchant payment through internet to Rs 2 million and fund transfer through internet to Rs 2 million   ',
			'summary' => 'Daily limit for transactions through mobile banking hiked to Rs 100,000, merchant payment through internet to Rs 2 million and fund transfer through internet to Rs 2 million   ',
			'content' => '<p>MARCH 3: Nepal Rastra Bank (NRB) has raised the daily limit for payments and fund transfers through mobile and internet channels.</p>

<p>Issuing a circular to the licensed entities to carry out payment related activities on Wednesday, the NRB&mdash;the central bank&mdash;revised the existing upper limit that it had fixed on transactions carried out through mobile and internet banking.</p>

<p>According to the revised limit, the per day limit for mobile banking transaction has been increased to Rs 200,000 from Rs 100,000.</p>

<p>The new revision will now allow clients with internet banking facility to make merchant payment up to Rs 2 million per day, up from previous limit of Rs 1 million.</p>

<p>Similarly, the central bank has now capped the daily limit for the fund transfer from one account to another account through internet at Rs 2 million. Earlier, such cap was Rs 1 million per day.</p>

<p>However, the upper limit does not affect payments and transfers for a number of transactions as listed by the central bank including fund transfer from one account to another account of the same person in the same bank or financial institution, tax payments, utility bill payments and bill payments of schools and colleges, hospitals, airlines and hotels, among others.</p>

<p>&nbsp;</p>
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			'id' => '13120',
			'article_category_id' => '1',
			'title' => 'Price of Iron Rods Increases with the Rise in Cost of Billet  ',
			'sub_title' => '',
			'summary' => 'March 3: At a time when the production capacity and consumption of cement and rod industries has been increasing, the price of iron rods has also gone up.  ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">March 3: At a time when the production capacity and consumption of cement and rod industries has been increasing, the price of iron rods has also gone up. &nbsp;<br />
The price of iron rods that increased by Rs 15-20 per kilogram in November has again grown by Rs 4 per kg.<br />
However, the price of cement, another key building material, has remained unchanged.<br />
According to rod manufacturers and sellers, the price of rods has started rising again in the last two weeks. On March 2, the average factory price of a single piece of iron rod, including VAT, has been fixed at Rs 74. They say the price could rise again.<br />
According to an official of Laxmi Steels, the market price will be higher as transportation cost and other expenses will be added to the factory price.<br />
He informed NBA that the price of &nbsp;rods had increased to Rs 70 just&nbsp;3 weeks ago.<br />
&quot;The price of iron rods has been increasing in Nepal, as the price of billet has increased in the international market,&quot; he informed.<br />
Even though the price of cement and its raw material does not fluctuate much because they are produced in Nepal, billets have to be imported from India and other countries.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria">Although the price of iron rod has been declining for some time, now the price of billet is increasing and it may go up further, said a producer.<br />
According to him, as the value of dollar has risen and the price of raw materials has also grown, the price of rods is expected to rise further by next week. The rod manufacturers say they paid USD 525 per tonne to import billets until February 28.<br />
The official informed that the price of imported billets will increase more, and the price of rods will also increase in the Nepali market. Earlier, they had to pay USD 505 for a tonne of billet.<br />
The US dollar value grew from 116 to 117.97 on March 2, and the price of iron rod is expected to rise slightly. As it is the season of construction, cement and steel rod industries have increased their production capacity between 80 to 90 percent. Use of construction materials, which had been severely affected by COVID-19, is growing along with the demand.</span></span></p>
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			'article_date' => '2021-03-03 15:27:44',
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		'Article' => array(
			'id' => '13119',
			'article_category_id' => '1',
			'title' => 'Import of Electric Vehicles Declines by 50 Percent',
			'sub_title' => '',
			'summary' => 'March 3: The import of electric vehicles into the country has declined by half in the first seven months of the current fiscal year 2021/21 due to heavy taxes levied on them. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 3: The import of electric vehicles into the country has declined by half in the first seven months of the current fiscal year 2021/21 due to heavy taxes levied on them. On the other hand, the import of vehicles that run on diesel/petrol has increased by 60 percent.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">In the review period, a total of 2051 electric vehicles have been imported. Of the imported electric vehicles, 103 are electric jeep, car, van and the remaining are three wheelers (auto-rikshaw). In the corresponding period of last fiscal year, 4204 electric vehicles were imported into Nepal. This number includes all kinds of electric vehicles. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">According to the National Automobile Dealers Association (NADA), more than 600 electric jeeps, cars and vans were imported in the first six months of the last fiscal year. Sunil Rijal, general secretary of NADA, said the import ratio has gone down due to a hike in electric vehicles taxes. The government hiked the customs duty levied on electric vehicles from 10 percent to 30 percent in the latest budget. However, later it was decided to provide waiver on excise duty and other taxes. Still, the electric vehicles are subjected to 40 percent tax which has plunged its market demand, said Rijal. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Although the import of electric vehicles has declined, the import of gasoline-powered automobiles has gone up. In the review period, the import of jeeps, motorbikes and trucks has increased. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Traders say that lengthy banking procedures on auto loan is another reason for decline in import of electric vehicles.&nbsp; Sundar Yatayat had launched four electric buses two years ago and was planning to operate another 25 electric buses. Bhesh Bahadur Thapa, president of Sundar Yatayat, said the difficulty in acquiring loan for electric vehicles has stalled the process. After a long hassle, banking institutions have agreed to finance electric vehicles on Tuesday, he said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Krishna Prasad Dulal, president of NADA, said the hike in import of gasoline-powered vehicles is for a limited period only. The increase is attributed to easy financing service provided by banks and resumption of the market after a long gap of ten months. </span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13133',
			'article_category_id' => '1',
			'title' => 'Launchpad 2021 aims to Bring Job Seekers and Employers Under One Roof',
			'sub_title' => '',
			'summary' => 'March 5: PeopleFirst, an organization working to uplift human resources in Nepal, is organising a three-day career and job fair, Launchpad 2021, from March 11 to 13 in Kathmandu. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial">March 5: PeopleFirst, an organization working to uplift human resources in Nepal, is organising a three-day career and job fair, Launchpad 2021, from March 11 to 13 in Kathmandu. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Issuing a statement on Thursday, March 4, PeopleFirst said that Launchpad 2021 is an equal opportunity event for job seekers and employers alike. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">&ldquo;It gives employers the opportunity to meet, inform and interview hundreds of potential candidates while job seekers get the chance to know more about the quality of workforce demanded by companies, the skills and the mindset required in the present workplace scenarios,&rdquo; the statement added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">According to the organiser, Launchpad 2021 takes a holistic approach towards the promotion of market efficiency- placing the right people with the right skills at the right placement.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">The statement informs that career counselling seminar and panel discussions will take place over a virtual platform on 11th and 12th of March 2021 respectively. Career Counselling Seminar which will be conducted by the Vice Dean of Johns Hopkings University aims to guide participants by making them aware about the requirements of various job opportunities available throughout the world.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">In panel discussions, the panelists will be sharing their expertise regarding human resource planning and various employee hiring policies. Meanwhile, the job expo will be conducted on 13th of March 2021 at Radisson Hotel, Kathmandu, where employers and job seekers will meet under one roof to personally interact with each other, the statement further reads.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Understanding the need of the rift that the recent pandemic has created in the job market, PeopleFirst said it has come up with an excellent opportunity for all the job givers and seekers. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Launchpad is being organised in partnership with Kathmandu College of Management (KCM), Nepalese Young Entrepreneurs&#39; Forum (NYEF), Turkish Airlines, KTM CTY, iClean technology, Mastakala, Maitreya Furniture, New Business Age, Events Mo and CSIT.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '13132',
			'article_category_id' => '1',
			'title' => 'FHAN Organising Women’s Handicraft Fair 2077 ',
			'sub_title' => '',
			'summary' => 'March 5: On the occasion of the 111th International Women’s Day, the Federation of Handicraft Association of Nepal (FHAN) and Lalitpur Metropolitan City are jointly organising Women Handicraft Fair 2077 with the slogan “Promoting Handicraft, Promoting Women Empowerment”. ',
			'content' => '<p><em>File Photo: NBA</em></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">March 5: On the occasion of the 111<sup>th</sup> International Women&rsquo;s Day, the Federation of Handicraft Association of Nepal (FHAN) and Lalitpur Metropolitan City are jointly organising Women Handicraft Fair 2077 with the slogan &ldquo;Promoting Handicraft, Promoting Women Empowerment&rdquo;. The fair is scheduled to be held from March 6 to March 8, 2021 on the premises of Lalitpur Metropolitan City. </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:&quot;Times New Roman&quot;">According to a press statement issued by the organisers, the event aims to promote the handicraft products made by women entrepreneurs. </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:&quot;Times New Roman&quot;">There will be around 50 stalls in the fair. Products made of natural fibers such as ketuke, cardamom, banana, allo, and bamboo, as well as woodwork, silver and metal jewelry, felt, crystal goods, bone and horn products, beads, products made from wool, cotton and Dhaka, pashmina, handmade paper goods, ceramics, and glass products will be kept for exhibition and sale. </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:&quot;Times New Roman&quot;">Women and indigenous entrepreneurs, who are involved in cottage and small producers, from different places of Kathmandu will be involved in the fair and help in promotion and market development of local handicraft. </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:&quot;Times New Roman&quot;">The press statement further reads, &ldquo;This kind of fair is expected to help women entrepreneurs in business promotion and development and boost their self-confidence.&rdquo; </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:&quot;Times New Roman&quot;">The trade fair will be attended by high ranking officials of the Government of Nepal, local government, different orgnisations, businessmen involved in handicraft industry, exporters and personalities representing various local organizations and the general public.</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:&quot;Times New Roman&quot;">As per the press statement, the fair will be inaugurated by Chiribabu Maharjanju, Mayor of Lalitpur Metropolitan City. </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:&quot;Times New Roman&quot;">The FHAN is celebrating the Handicraft Year by organising various promotional programs throughout the year with the slogan &quot;Possibilities for Prosperity of Handicrafts &quot;. Similarly, a women&#39;s handicraft fair was organized in Janakpurdham of Province No. 2 in the first phase with the support of the Government of Nepal, Ministry of Women, Children and Senior Citizens from 14 February to 16 February, 2021. In the second phase, the fair is being organised in Lalitpur. </span></span></span></span></p>
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		'Article' => array(
			'id' => '13131',
			'article_category_id' => '1',
			'title' => 'Industrialists Seek for Debt Recovery Law',
			'sub_title' => '',
			'summary' => 'March 5: Industries that are trying to bounce back from the impact of the COVID-19 pandemic have sought for debt recovery law from the government to recover their outstanding dues from the market. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 5: Industries that are trying to bounce back from the impact of the COVID-19 pandemic have sought for debt recovery law from the government to recover their outstanding dues from the market. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Industrialists have asked for a policy-level decision to include debt recovery provision from the upcoming year&rsquo;s budget. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">With an end to political transition, the flow of investment has increased with expectation of increase in the development activities. But the market size has downsized leading to competition. Industrialists say that the market size has declined because of the weak spending of the government coupled with the impact of COVID-19 pandemic. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Due to heavy competition within the limited market, traders say they are compelled to provide services on credit. Traders have sought for debt recovery law to manage this chaotic market and reduce its long-term impact on economy. Expecting a rise in economic activities, food production sector and construction materials industry have made huge investments. Industries involved in production of cement, rod, and food items such as rice, oil, pulses have received new investment. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;These industries are still receiving new investment,&rdquo; said Subodh Gupta, president of the Association of Rice, Oil and Pulses Industry. As the market has not increased in proportion to the investment, industries are opting for ways to minimize loss, Gupta said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Increase in competition has made industries to extend credit period. In the initial phase, industries were trying to sustain in the market by reducing the market price. Right now, industries are extending the credit period,&rdquo; said Biswamitra Prasad Kalwar, managing director of Om Food Industry. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Gupta said the Association has been asking for debt recovery law with the government since last year. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Because of the pandemic, the demand of the essential food items has also gone down which indicates the purchasing power of customers has also gone down,&rdquo; said Gupta. COVID-19 pandemic has affected progress of development projects as well. The market demand of construction materials has also declined since the government couldn&rsquo;t make capital expenditure effective. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Unhealthy competition is on the rise with the decline in demand and increase in investment,&rdquo; said Rajesh Kyal, an industrialist. &ldquo; At normal times, credit transactions are being done for a period of a month which now has increased to more than six months,&rdquo; Kyal said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Traders say that if legal provision is introduced limiting credit period for a month, capital can be arranged for another five months. With the arrangement of capital, the production cost can also be reduced, argues Gupta. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Lack of strict provisions on credit period has invited chaos in the market. If mandatory provision is introduced, it will assist in reducing burden of interest rate along with the production cost,&rdquo; said Pradip Kediya, former President of Birgunj chapter of the Federation of Nepalese Chambers of Commerce and Industry. </span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13130',
			'article_category_id' => '1',
			'title' => 'Prime Minister Oli says Nepal will be Self-Reliant on Food within 5 Years ',
			'sub_title' => '',
			'summary' => 'March 5: Prime Minister KP Sharma Oli has claimed that the country will become self-reliant on food grains within the next five years.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">March 5: Prime Minister KP Sharma Oli has claimed that the country will become self-reliant on food grains within the next five years.</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:&quot;Times New Roman&quot;">He made such remarks while laying the foundation stone of the Sunkoshi Marin Diversion Multipurpose Project on Thursday (March 4) and added that the country will also be able to export them by that time. </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:&quot;Times New Roman&quot;">The construction of the diversion project has been started with the aim of providing irrigation to 183,000 bigahas of land in five districts of the Terai (Bara, Rautahat, Sarlahi, Mahottari and Dhanusha) and generating 31 MW of electricity. PM Oli said that once the irrigation facility is available, the food grains produced in those districts will not only be sufficient for Nepal and will also be in excess for export.&nbsp; </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:&quot;Times New Roman&quot;">In a separate context, PM Oli also said that the government is now working on a plan to extend 4G service across the country through optical fiber. </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:&quot;Times New Roman&quot;">The water of Sunkoshi from the project will be discharged into the Marin River at the rate of 67,000 liters per second. This water will then be released into the Bagmati River to provide irrigation facility. Under this project, a 158-meter long barrage, 150-meter long descending basin and 13.3 km long tunnel will be constructed from Khurkot of Sindhuli over the Sunkoshi River. </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:&quot;Times New Roman&quot;">The electricity generated from the project will be connected to the national grid through a 44 km long transmission line through the substation at Nawalpur in Sarlahi. The project is expected to be complete in FY 2082/83. </span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Domestic Airliners Hike Airfare from Today ',
			'sub_title' => '',
			'summary' => 'March 5: Domestic airline operators have decided to increase the airfare of all domestic flights from today (March 5) due to the rise in the price of Aviation Turbine Fuel (ATF) sincce March 1.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">March 5: Domestic airline operators have decided to increase the airfare of all domestic flights from today (March 5) due to the rise in the price of Aviation Turbine Fuel (ATF) sincce March 1.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Airline Operators Association of Nepal (AOAN), the umbrella body of domestic airlines in Nepal, issued a statement on March 4 informing that all its member airlines will increase the airfare of all domestic flights effective from March 5.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">According to AOAN, its members, in coordination with the Civil Aviation Authority of Nepal (CAAN), have decided to increase the airfare following the decision of Nepal Oil Corporation (NOC) on March 1 to increase the price of ATF.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Nepal Oil Corporation (NOC) increased the price of ATF for domestic flights by Rs 5 per litre from midnight on March 1.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Previously, NOC had increased the price of ATF on February 16, and domestic operators had raised the airfare on February 20. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The airfare is determined based on three components- airfare fixed by the government, fuel surcharge, and airport taxes.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">AOAN along with CAAN and the Ministry of Tourism have set a pricing formula comprising of all three components of airfare pricing. Based on the formula, the airfare is determined and approved by CAAN.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">According to a statement issued by AOAN, the association and its member airlines have decided to increase the airfare inline with the government&#39;s decision on May 10, 2018, to allow AAON and airline operators to adjust the fuel surcharge in accordance to the fuel price.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">After the rise, the airfare of mountain flights from Kathamndu has increased by Rs 170. The price has been fixed at Rs 2470.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Likewise, the airfare of the Kathmandu-Bhadrapur fligh has been increased by Rs 60 per person.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The price of Kathmandu-Dhangadhi flight has been increased by Rs 220 per person while the airfare of the Kathamndu-Pokhara flight has been increased by Rs 80 per person.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Kathamndu-Simara airfare has also been increased by Rs 45 with the rise in fuel surcharge of Rs 45. The airfare of Doti-Sanfebagar route has increased by Rs 20. </span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '13128',
			'article_category_id' => '1',
			'title' => 'More Women Entrepreneurs Borrowing from Financial Institutions due to Pandemic',
			'sub_title' => '',
			'summary' => 'March 5: Despite the effects of Covid-19 pandemic, loans offered to women entrepreneurs have increased by 85 percent in the last seven months. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">March 5: Despite the effects of Covid-19 pandemic, loans offered to women entrepreneurs have increased by 85 percent in the last seven months.&nbsp; According to South Asia Watch on&nbsp; Trade, Economics and Environment (SAWTEE), such information was shared during a webinar organized on March 4 on the impact of the COVID-19 on women entrepreneurs in Nepal.</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">By mid-July 2020 financial institutions&rsquo; lending to women entrepreneurs stood at Rs 4 billion while the amount has reached Rs 27 billion as of now, informed Dr Gunakar Bhatta, executive director of Nepal Rastra Bank (NRB) at the webinar titled &lsquo;Towards recovery: Women entrepreneurs coping with the pandemic&rsquo; organised by SAWTEE. He also pointed out that the number of female borrowers has also increased three folds during the period.</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">Highlighting the difficulty in access to finance experienced by the women entrepreneurs, Chandni Joshi, senior gender, rights and policy specialist, expressed that investing in women should not be considered a charity but as a smart decision. She urged the private sector to invest in women-owned/-led businesses as viable business decisions.</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">Shobha Gurung, vice president of the Federation of Nepalese Cottage and Small Industries (FNCSI), pointed out the difficulty faced by their members as the economic activities shut-down but they also utilized the period to enhance the digital and financial literacy of the members. She pointed out that during disasters like these, small businesses need more support from the government to survive.</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">Reeta Simha, president&nbsp; of the Federation of Women Entrepreneurs&rsquo; Association of Nepal (FWEAN), also seconded that suggestion. She also insisted along with the soft skills entrepreneurs need better support in the form of finances for their recovery and revival.</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">Dr Mona Shrestha Adhikari, CEO of Enterprise for Management, Economic Reform and Gender Equality (EMERGE), added that women entrepreneurs need more support to help transition from brick-and-mortar setting to digital. She added more analysis is needed to examine disaster impacts through a gender lens.</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">According to a statement issued by SAWTEE, the webinar was organized to disseminate the findings of a small-scale survey of women entrepreneurs engaged in the manufacturing sector to examine the impact of the pandemic on their ability to do business. The survey found that 61 percent of the women-owned businesses reported having been affected severely by the pandemic and the lockdown measures; 57 percent of the respondent sought loans to cope with the pandemic; 56 percent of the respondents used e-commerce platforms for sales or promotion during the period. Further, 92 percent of the respondents were not aware of any support facilities offered by the government, the statement quoted Dikshya Singh, senior research officer of SAWTEE, as saying.</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">Dr Posh Raj Pandey, chairman of SAWTEE, pointed out the lack of mentorship offered to women entrepreneurs, by private sector associations, government and civil society, during the pandemic to help them innovate and shift towards the digital landscape.</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">The participants in the webinar included women entrepreneurs, representatives from civil society, policymakers and academia. The participants pointed out limited access to information for the women entrepreneurs that inhibits their ability to expand their businesses. Similarly, they also insisted that the difficulty in accessing finance needs to be addressed for enhancing women&rsquo;s participation in the entrepreneurial ecosystem.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '13127',
			'article_category_id' => '1',
			'title' => 'Buddha Air to fly on Janakpur-Ayodhya Route   ',
			'sub_title' => '',
			'summary' => 'March 5: Buddha Air is operating direct flights to Ayodhya of India from Janakpur of Nepal for the promotion of religious tourism.     ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">March 5: Buddha Air is operating direct flights to Ayodhya of India from Janakpur of Nepal for the promotion of religious tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Buddha Air stated that it was going to expand its flight service to Ayodhya with the goal of attracting religious tourists on the basis of the ancient, religious relations between the two important religious cities.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The relation between Sita and Ram continues from the &lsquo;Treta Yug&rsquo; and operation of direct flight from Janakpurdham to Ayodhya is to connect these two cities that have a historical and religious connection. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Buddha Air has applied to the Ministry of Culture, Tourism and Civil Aviation and to the Civil Aviation Authority of Nepal (CAAN) for permission for operating the flight. It has also sent a memo of the application to the Province 2 government.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Agreement had been signed for establishing sister city relations between Janakpur and Ayodhya, promotion of the &#39;Ramayana Circuit&#39;, among others during the visit of Indian Prime Minister Narendra Modi to Nepal three years ago.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The duration of flight from Janakpur to Ayodhya would be 50 minutes. -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '13126',
			'article_category_id' => '1',
			'title' => 'Nepal’s economy plunges into recession ',
			'sub_title' => 'CBS revised forecasts show a sharp contraction in GDP for two consecutive quarters, sending Nepal’s economy into recession between mid April and mid September due to Covid-19     ',
			'summary' => 'March 4: Nepal’s economy has plunged into a recession for the first time in its history as GDP witnessed negative growth rates for two consecutive quarters.  ',
			'content' => '<p><em><strong>SAGAR GHIMIRE</strong></em><br />
March 4: Nepal&rsquo;s economy has plunged into a recession for the first time in its history as GDP witnessed negative growth rates for two consecutive quarters.</p>

<p>According to newly released GDP figures by the Central Bureau of Statistics (CBS), the economy shrank 15.4 percent in the fourth quarter of the last fiscal year 2019/20 followed by a contraction of 4.6 percent in the first quarter of the current fiscal year 2020/21.&nbsp;</p>

<p>The CBS forecast of declines in GDP growth for two consecutive quarters meet the standard definition for recession, according to economists. This is the first time that the economy has gone into recession since the CBS started to publish the National Accounts report in 1961/62, according to a senior official at the Nepal Rastra Bank (NRB).</p>

<p>&ldquo;These forecasts of GDP declines show that the economy was in recession during this period. We have not seen such deep contraction in the GDP since CBS started to publish the National Accounts report in 1961/62. There has not been a decline for two consecutive quarters since the CBS started to release quarterly figures in 2004/05,&rdquo; said the senior official at the NRB, requesting anonymity as he is not authorized to comment on growth figures.</p>

<p>Economists also agree that the contractions represent the recession that Nepal&rsquo;s economy underwent for at least six months.</p>

<p>&ldquo;The quarterly data shows that the economy is technically in a recession, but recovery is underway. The extent of contraction is less in the first quarter of the current fiscal year 2020/21 compared to the fourth quarter of the last fiscal year 2019/20,&rdquo; Chandan Sapkota, an economist, told New Business Age.<br />
Covid-19 is the main culprit for the contraction in the economy, according to officials and economists.</p>

<p>As the government imposed nationwide lockdown in March last year for nearly four months to contain the spread of coronavirus, economic activities in almost all sectors collapsed.<br />
The impact of the lockdown in the economy at the fourth quarter was so significant that it pulled the growth rate of the entire fiscal year into the negative territory.<br />
The CBS forecasts that the Nepal&rsquo;s economy slumped 1.99 percent in the last fiscal year, down from its preliminary estimate of a growth by 2.27 percent.<br />
In its preliminary forecast released in April, the CBS had painted somewhat rosy growth prospect for Nepal even when other countries were reporting a sharp contraction in their economies.</p>

<p>CBS officials say that their preliminary forecast was based on an assumption that the lockdown would be short-term and end by June which would lead economic activities to normality.&nbsp; &nbsp;</p>

<p>&ldquo;The country was in a complete lockdown until mid July last year which disrupted most of the economic activities longer than we had anticipated in our preliminary forecast,&rdquo; said Ganesh Prasad Acharya, a director at National Account Section at the CBS.</p>

<p>The CBS move to change the base year for the calculation of GDP estimates&mdash;a process known as rebasing of National Account statistics&mdash;is also said to have contributed to the decline of GDP growth to some extents. The base year 2000/01 has now been replaced with 2010/11.&nbsp; &nbsp;</p>

<p>&ldquo;Rebasing increased the share of services sector in GDP but reduced that of agri. High contact services sectors such as retail and wholesale, and travel and tourism were battered by COVID-19 and the lockdowns. This contributed to deeper contraction,&rdquo; said Economist Sapkota.</p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '13125',
			'article_category_id' => '1',
			'title' => 'Private Sector Upbeat as Government Holds Talks with Biplav-led Party',
			'sub_title' => 'Maoist Outfit led by Netra Bikram Chand Gives up Violence following a 3-Point Deal with Government',
			'summary' => 'March 4: The private sector of Nepal is upbeat about the government holding talks with the outlawed Communist Party (CPN) of Nepal led by Netra Bikram Chand (Biplav), as it will pave the way for economic development.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 4: The private sector of Nepal is upbeat about the government holding talks with the outlawed Communist Party (CPN) of Nepal led by Netra Bikram Chand (Biplav), as it will pave the way for economic development.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The private sector is keeping fingers crossed for the success in negotiations with the Biplav-led party as it will assist in creating an investment friendly environment, increase industrial production and facilitate export and import system.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Rajesh Kaji Shrestha, president of Nepal Chambers of Commerce (NCC), said it will be a significant achievement if the talks with the party involved in conflict end successfully. It will help in effective implementation of the constitution by ending political instability.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Satish Kumar More, president of the Confederation of Nepalese Industries (CNI), said it is a positive thing that the government has initiated talks with the party that has raised armed conflict. He opined that all the parties should come into mainstream politics and empower the country financially. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;If the parties involved in violent activities come into peace politics, industries can increase production and consolidate import system. If the government brings all the parties into mainstream politics, it will create suitable environment for the private sector to work and the ambitious goals set by the government can be achieved,&rdquo; he said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Home Minister Ram Bahdur Thapa in a recent Facebook post said that the government has reached historic agreement with the Biplav-led party.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The talks were held in two phases on Wednesday - morning and evening &ndash; and also continued on Thursday. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Minister Thapa said that the government has reached a three-point understanding with the CPN and the talks have concluded successfully. According to Minister Thapa, the Maoist outfit has agreed to give up violence and organize all its political activities peacefully. Meanwhile, the government has also agreed to lift the ban on the outfit and also to release all its political prisoners, reads the agreement paper posted on Facebook by Minister Thapa. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Home Minister Ram Bahadur Thapa and Prime Minister&rsquo;s Foreign Advisor Rajan Bhattarai had represented the government during the talks while Khadga Bahadur Biswokarma and Uday Chalaune attended the meetings on behalf of the Biplav-led party. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Minister Thapa and Bishokarma were fellow warriors during the decade-long Maoist insurgency. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The Cabinet Meeting in March 2019 had banned Biplav-led party after it engaged in criminal activities such as arson, bomb blasts, and vandalism. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/156586457_941748426364789_5811160874880962503_o.jpg" style="height:1469px; width:1000px" /></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '13124',
			'article_category_id' => '1',
			'title' => 'Finance Ministry to Release Rs 1.8 Billion for Health Facilities in 113 Local Units',
			'sub_title' => '',
			'summary' => 'March 4: The Ministry of Finance has decided to release conditional grant of Rs 1.8 billion rupees for under-construction health facilities in 113 local units.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">March 4: The Ministry of Finance has decided to release conditional grant of Rs 1.8 billion rupees for under-construction health facilities in 113 local units.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;Finance Minister Bishnu Prasad Poudel has approved the grant for the health facilities being constructed at ward levels of the local units. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has adopted a policy to avail health service at all wards of the local units. As per this policy, a total of 2,626 health facilities are currently being constructed. The government will release the fund under the heading of budget transfer upon completion of the work.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to spokesperson of Finance Ministry Suman Dahal, the government has allocated Rs 4.2 billion for the construction of health facilities in the current fiscal year. The ministry has already released Rs 2.69 billion for the purpose.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry had secure source of investment worth Rs 57.97 billion for constructing basic health facilities in each and every local unit. After finalizing the budget, the government had laid the foundation stones for constructing health facilities in 308 local units on November 30, 2020.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '13123',
			'article_category_id' => '1',
			'title' => 'Gold Dealers Shift Focus toward Exporting Jewellery ',
			'sub_title' => 'Demand for Gold High Among Nepali Expats',
			'summary' => 'March 4: The sales of gold jewellery in the domestic market of Nepal have declined due to the rise in inflation rate and the Covid-19 pandemic.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">March 4: The sales of gold jewellery in the domestic market of Nepal have declined due to the rise in inflation rate and the Covid-19 pandemic. As a result, gold traders have started exporting gold ornaments abroad. According to the Customs Department data, entrepreneurs have been exporting jewellery from the beginning of the current fiscal year.<br />
The last time Nepal exported gold jewellery was in FY 2016/17. Gold jewellery items of 615 kg were exported to China in FY 2016/17. Since, then Nepal had not exported gold jewelry, according to the customs department. However, traders say that a small amount of gold jewellery may have been exported abroad during the period.<br />
The data from the department show that the large-scale export of gold jewellery started only from the beginning of the current fiscal year.<br />
According to the statistics of the department, in the first 7 months of the current fiscal year, gold jewellery worth Rs 156.769 million have been shipped abroad. During this period, 12 kg of gold jewellery have been exported.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">Krishna Bajagain, a senior officer at the Trade and Export Promotion Center, informed that Nepal has recently started exporting gold jewellery.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">&nbsp;&quot;Until last year, there was not much export of such jewellery. However, it is growing this year,&quot; he informed.<br />
Jewellery worth Rs 17.37 million were exported in the first month of the current fiscal year.<br />
According to the department, Nepal is currently exporting gold jewellery to Australia, Hong Kong, and the United States.<br />
Lately, the number of Nepali nationals settling in Australia, Honk Kong and the USA has been growing.<br />
President of the Federation of Nepalese Gold and Silver Dealers Association Manik Ratna Shakya informed that gold ornaments are demanded by the Nepalis living abroad.<br />
He informed that the demand for gold is growing among Nepali nationals living abroad. &quot;They prefer jewellery made in Nepal,&quot; he added.<br />
He informed that some businessmen have been exporting jewellery made in Nepal through their business partners abroad. Apart from this, Nepalis who go abroad also carry gold jewellery through &#39;hand luggage&rsquo;, Shakya shared.<br />
&quot;Looking at the current growth, it seems that the export of gold jewellery will also increase in the coming days. Therefore, the government needs to immediately increase the quota of gold import,&quot; he added.</span></span></span></p>
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	(int) 11 => array(
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			'id' => '13122',
			'article_category_id' => '1',
			'title' => 'Govt Initiates Process to Launch Water Transportation: Minister Nembang',
			'sub_title' => '',
			'summary' => 'March 4: Minister for Physical Infrastructure and Transport, Basant Kumar Nembang, has said the government has already forwarded the process to launch water transportation in the big rivers of the country, according to the state-run national news agency RSS.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">March 4: Minister for Physical Infrastructure and Transport, Basant Kumar Nembang, has said the government has already forwarded the process to launch water transportation in the big rivers of the country, according to the state-run national news agency RSS.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">RSS stated that the minister made such announcement during a ministerial level virtual meeting organized by India on &#39;Maritime India Summit 2021&#39; on Tuesday, March 2.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He shared that study is underway to conduct water transportation in the Karnali, Narayani, Kaligandaki and Koshi Rivers and connect India via waterways. The government is actively involved in implementing the agreement, treaty and the international commitment relating to water transportation, RSS quoted the minister as saying.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;Nepal has been making efforts since a long time to conduct water transportation,&quot; Minister Nembang said, reminding that Nepal had brought the Act on Operation of Ship way back in 1971. He further said the present government has given top priority to the water transportation.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Moreover, Minister Nembang argued that transportation is the basic infrastructures to ensure development and prosperity in the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The three-day summit inaugurated by Indian Prime Minister Narendra Modi will conclude today (March 4). </span></span></span></p>
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			'created' => '2021-03-04',
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			'sortorder' => '12868',
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			'article_date' => '2021-03-04 08:05:04',
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		'Article' => array(
			'id' => '13121',
			'article_category_id' => '1',
			'title' => 'Nepal Rastra Bank raises daily limit for internet, mobile payments ',
			'sub_title' => 'Daily limit for transactions through mobile banking hiked to Rs 100,000, merchant payment through internet to Rs 2 million and fund transfer through internet to Rs 2 million   ',
			'summary' => 'Daily limit for transactions through mobile banking hiked to Rs 100,000, merchant payment through internet to Rs 2 million and fund transfer through internet to Rs 2 million   ',
			'content' => '<p>MARCH 3: Nepal Rastra Bank (NRB) has raised the daily limit for payments and fund transfers through mobile and internet channels.</p>

<p>Issuing a circular to the licensed entities to carry out payment related activities on Wednesday, the NRB&mdash;the central bank&mdash;revised the existing upper limit that it had fixed on transactions carried out through mobile and internet banking.</p>

<p>According to the revised limit, the per day limit for mobile banking transaction has been increased to Rs 200,000 from Rs 100,000.</p>

<p>The new revision will now allow clients with internet banking facility to make merchant payment up to Rs 2 million per day, up from previous limit of Rs 1 million.</p>

<p>Similarly, the central bank has now capped the daily limit for the fund transfer from one account to another account through internet at Rs 2 million. Earlier, such cap was Rs 1 million per day.</p>

<p>However, the upper limit does not affect payments and transfers for a number of transactions as listed by the central bank including fund transfer from one account to another account of the same person in the same bank or financial institution, tax payments, utility bill payments and bill payments of schools and colleges, hospitals, airlines and hotels, among others.</p>

<p>&nbsp;</p>
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			'modified' => '2021-03-03',
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			'description' => '',
			'sortorder' => '12867',
			'image' => '20210303064801_NRB_photo.jpg',
			'article_date' => '2021-03-03 18:31:30',
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		'Article' => array(
			'id' => '13120',
			'article_category_id' => '1',
			'title' => 'Price of Iron Rods Increases with the Rise in Cost of Billet  ',
			'sub_title' => '',
			'summary' => 'March 3: At a time when the production capacity and consumption of cement and rod industries has been increasing, the price of iron rods has also gone up.  ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">March 3: At a time when the production capacity and consumption of cement and rod industries has been increasing, the price of iron rods has also gone up. &nbsp;<br />
The price of iron rods that increased by Rs 15-20 per kilogram in November has again grown by Rs 4 per kg.<br />
However, the price of cement, another key building material, has remained unchanged.<br />
According to rod manufacturers and sellers, the price of rods has started rising again in the last two weeks. On March 2, the average factory price of a single piece of iron rod, including VAT, has been fixed at Rs 74. They say the price could rise again.<br />
According to an official of Laxmi Steels, the market price will be higher as transportation cost and other expenses will be added to the factory price.<br />
He informed NBA that the price of &nbsp;rods had increased to Rs 70 just&nbsp;3 weeks ago.<br />
&quot;The price of iron rods has been increasing in Nepal, as the price of billet has increased in the international market,&quot; he informed.<br />
Even though the price of cement and its raw material does not fluctuate much because they are produced in Nepal, billets have to be imported from India and other countries.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria">Although the price of iron rod has been declining for some time, now the price of billet is increasing and it may go up further, said a producer.<br />
According to him, as the value of dollar has risen and the price of raw materials has also grown, the price of rods is expected to rise further by next week. The rod manufacturers say they paid USD 525 per tonne to import billets until February 28.<br />
The official informed that the price of imported billets will increase more, and the price of rods will also increase in the Nepali market. Earlier, they had to pay USD 505 for a tonne of billet.<br />
The US dollar value grew from 116 to 117.97 on March 2, and the price of iron rod is expected to rise slightly. As it is the season of construction, cement and steel rod industries have increased their production capacity between 80 to 90 percent. Use of construction materials, which had been severely affected by COVID-19, is growing along with the demand.</span></span></p>
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			'created' => '2021-03-03',
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			'sortorder' => '12866',
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			'article_date' => '2021-03-03 15:27:44',
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	(int) 14 => array(
		'Article' => array(
			'id' => '13119',
			'article_category_id' => '1',
			'title' => 'Import of Electric Vehicles Declines by 50 Percent',
			'sub_title' => '',
			'summary' => 'March 3: The import of electric vehicles into the country has declined by half in the first seven months of the current fiscal year 2021/21 due to heavy taxes levied on them. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 3: The import of electric vehicles into the country has declined by half in the first seven months of the current fiscal year 2021/21 due to heavy taxes levied on them. On the other hand, the import of vehicles that run on diesel/petrol has increased by 60 percent.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">In the review period, a total of 2051 electric vehicles have been imported. Of the imported electric vehicles, 103 are electric jeep, car, van and the remaining are three wheelers (auto-rikshaw). In the corresponding period of last fiscal year, 4204 electric vehicles were imported into Nepal. This number includes all kinds of electric vehicles. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">According to the National Automobile Dealers Association (NADA), more than 600 electric jeeps, cars and vans were imported in the first six months of the last fiscal year. Sunil Rijal, general secretary of NADA, said the import ratio has gone down due to a hike in electric vehicles taxes. The government hiked the customs duty levied on electric vehicles from 10 percent to 30 percent in the latest budget. However, later it was decided to provide waiver on excise duty and other taxes. Still, the electric vehicles are subjected to 40 percent tax which has plunged its market demand, said Rijal. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Although the import of electric vehicles has declined, the import of gasoline-powered automobiles has gone up. In the review period, the import of jeeps, motorbikes and trucks has increased. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Traders say that lengthy banking procedures on auto loan is another reason for decline in import of electric vehicles.&nbsp; Sundar Yatayat had launched four electric buses two years ago and was planning to operate another 25 electric buses. Bhesh Bahadur Thapa, president of Sundar Yatayat, said the difficulty in acquiring loan for electric vehicles has stalled the process. After a long hassle, banking institutions have agreed to finance electric vehicles on Tuesday, he said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Krishna Prasad Dulal, president of NADA, said the hike in import of gasoline-powered vehicles is for a limited period only. The increase is attributed to easy financing service provided by banks and resumption of the market after a long gap of ten months. </span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13133',
			'article_category_id' => '1',
			'title' => 'Launchpad 2021 aims to Bring Job Seekers and Employers Under One Roof',
			'sub_title' => '',
			'summary' => 'March 5: PeopleFirst, an organization working to uplift human resources in Nepal, is organising a three-day career and job fair, Launchpad 2021, from March 11 to 13 in Kathmandu. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial">March 5: PeopleFirst, an organization working to uplift human resources in Nepal, is organising a three-day career and job fair, Launchpad 2021, from March 11 to 13 in Kathmandu. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Issuing a statement on Thursday, March 4, PeopleFirst said that Launchpad 2021 is an equal opportunity event for job seekers and employers alike. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">&ldquo;It gives employers the opportunity to meet, inform and interview hundreds of potential candidates while job seekers get the chance to know more about the quality of workforce demanded by companies, the skills and the mindset required in the present workplace scenarios,&rdquo; the statement added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">According to the organiser, Launchpad 2021 takes a holistic approach towards the promotion of market efficiency- placing the right people with the right skills at the right placement.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">The statement informs that career counselling seminar and panel discussions will take place over a virtual platform on 11th and 12th of March 2021 respectively. Career Counselling Seminar which will be conducted by the Vice Dean of Johns Hopkings University aims to guide participants by making them aware about the requirements of various job opportunities available throughout the world.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">In panel discussions, the panelists will be sharing their expertise regarding human resource planning and various employee hiring policies. Meanwhile, the job expo will be conducted on 13th of March 2021 at Radisson Hotel, Kathmandu, where employers and job seekers will meet under one roof to personally interact with each other, the statement further reads.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Understanding the need of the rift that the recent pandemic has created in the job market, PeopleFirst said it has come up with an excellent opportunity for all the job givers and seekers. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Launchpad is being organised in partnership with Kathmandu College of Management (KCM), Nepalese Young Entrepreneurs&#39; Forum (NYEF), Turkish Airlines, KTM CTY, iClean technology, Mastakala, Maitreya Furniture, New Business Age, Events Mo and CSIT.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '13132',
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			'title' => 'FHAN Organising Women’s Handicraft Fair 2077 ',
			'sub_title' => '',
			'summary' => 'March 5: On the occasion of the 111th International Women’s Day, the Federation of Handicraft Association of Nepal (FHAN) and Lalitpur Metropolitan City are jointly organising Women Handicraft Fair 2077 with the slogan “Promoting Handicraft, Promoting Women Empowerment”. ',
			'content' => '<p><em>File Photo: NBA</em></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">March 5: On the occasion of the 111<sup>th</sup> International Women&rsquo;s Day, the Federation of Handicraft Association of Nepal (FHAN) and Lalitpur Metropolitan City are jointly organising Women Handicraft Fair 2077 with the slogan &ldquo;Promoting Handicraft, Promoting Women Empowerment&rdquo;. The fair is scheduled to be held from March 6 to March 8, 2021 on the premises of Lalitpur Metropolitan City. </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:&quot;Times New Roman&quot;">According to a press statement issued by the organisers, the event aims to promote the handicraft products made by women entrepreneurs. </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:&quot;Times New Roman&quot;">There will be around 50 stalls in the fair. Products made of natural fibers such as ketuke, cardamom, banana, allo, and bamboo, as well as woodwork, silver and metal jewelry, felt, crystal goods, bone and horn products, beads, products made from wool, cotton and Dhaka, pashmina, handmade paper goods, ceramics, and glass products will be kept for exhibition and sale. </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:&quot;Times New Roman&quot;">Women and indigenous entrepreneurs, who are involved in cottage and small producers, from different places of Kathmandu will be involved in the fair and help in promotion and market development of local handicraft. </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:&quot;Times New Roman&quot;">The press statement further reads, &ldquo;This kind of fair is expected to help women entrepreneurs in business promotion and development and boost their self-confidence.&rdquo; </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:&quot;Times New Roman&quot;">The trade fair will be attended by high ranking officials of the Government of Nepal, local government, different orgnisations, businessmen involved in handicraft industry, exporters and personalities representing various local organizations and the general public.</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:&quot;Times New Roman&quot;">As per the press statement, the fair will be inaugurated by Chiribabu Maharjanju, Mayor of Lalitpur Metropolitan City. </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:&quot;Times New Roman&quot;">The FHAN is celebrating the Handicraft Year by organising various promotional programs throughout the year with the slogan &quot;Possibilities for Prosperity of Handicrafts &quot;. Similarly, a women&#39;s handicraft fair was organized in Janakpurdham of Province No. 2 in the first phase with the support of the Government of Nepal, Ministry of Women, Children and Senior Citizens from 14 February to 16 February, 2021. In the second phase, the fair is being organised in Lalitpur. </span></span></span></span></p>
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			'id' => '13131',
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			'title' => 'Industrialists Seek for Debt Recovery Law',
			'sub_title' => '',
			'summary' => 'March 5: Industries that are trying to bounce back from the impact of the COVID-19 pandemic have sought for debt recovery law from the government to recover their outstanding dues from the market. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 5: Industries that are trying to bounce back from the impact of the COVID-19 pandemic have sought for debt recovery law from the government to recover their outstanding dues from the market. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Industrialists have asked for a policy-level decision to include debt recovery provision from the upcoming year&rsquo;s budget. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">With an end to political transition, the flow of investment has increased with expectation of increase in the development activities. But the market size has downsized leading to competition. Industrialists say that the market size has declined because of the weak spending of the government coupled with the impact of COVID-19 pandemic. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Due to heavy competition within the limited market, traders say they are compelled to provide services on credit. Traders have sought for debt recovery law to manage this chaotic market and reduce its long-term impact on economy. Expecting a rise in economic activities, food production sector and construction materials industry have made huge investments. Industries involved in production of cement, rod, and food items such as rice, oil, pulses have received new investment. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;These industries are still receiving new investment,&rdquo; said Subodh Gupta, president of the Association of Rice, Oil and Pulses Industry. As the market has not increased in proportion to the investment, industries are opting for ways to minimize loss, Gupta said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Increase in competition has made industries to extend credit period. In the initial phase, industries were trying to sustain in the market by reducing the market price. Right now, industries are extending the credit period,&rdquo; said Biswamitra Prasad Kalwar, managing director of Om Food Industry. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Gupta said the Association has been asking for debt recovery law with the government since last year. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Because of the pandemic, the demand of the essential food items has also gone down which indicates the purchasing power of customers has also gone down,&rdquo; said Gupta. COVID-19 pandemic has affected progress of development projects as well. The market demand of construction materials has also declined since the government couldn&rsquo;t make capital expenditure effective. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Unhealthy competition is on the rise with the decline in demand and increase in investment,&rdquo; said Rajesh Kyal, an industrialist. &ldquo; At normal times, credit transactions are being done for a period of a month which now has increased to more than six months,&rdquo; Kyal said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Traders say that if legal provision is introduced limiting credit period for a month, capital can be arranged for another five months. With the arrangement of capital, the production cost can also be reduced, argues Gupta. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Lack of strict provisions on credit period has invited chaos in the market. If mandatory provision is introduced, it will assist in reducing burden of interest rate along with the production cost,&rdquo; said Pradip Kediya, former President of Birgunj chapter of the Federation of Nepalese Chambers of Commerce and Industry. </span></span></p>

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '13130',
			'article_category_id' => '1',
			'title' => 'Prime Minister Oli says Nepal will be Self-Reliant on Food within 5 Years ',
			'sub_title' => '',
			'summary' => 'March 5: Prime Minister KP Sharma Oli has claimed that the country will become self-reliant on food grains within the next five years.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">March 5: Prime Minister KP Sharma Oli has claimed that the country will become self-reliant on food grains within the next five years.</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:&quot;Times New Roman&quot;">He made such remarks while laying the foundation stone of the Sunkoshi Marin Diversion Multipurpose Project on Thursday (March 4) and added that the country will also be able to export them by that time. </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:&quot;Times New Roman&quot;">The construction of the diversion project has been started with the aim of providing irrigation to 183,000 bigahas of land in five districts of the Terai (Bara, Rautahat, Sarlahi, Mahottari and Dhanusha) and generating 31 MW of electricity. PM Oli said that once the irrigation facility is available, the food grains produced in those districts will not only be sufficient for Nepal and will also be in excess for export.&nbsp; </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:&quot;Times New Roman&quot;">In a separate context, PM Oli also said that the government is now working on a plan to extend 4G service across the country through optical fiber. </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:&quot;Times New Roman&quot;">The water of Sunkoshi from the project will be discharged into the Marin River at the rate of 67,000 liters per second. This water will then be released into the Bagmati River to provide irrigation facility. Under this project, a 158-meter long barrage, 150-meter long descending basin and 13.3 km long tunnel will be constructed from Khurkot of Sindhuli over the Sunkoshi River. </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:&quot;Times New Roman&quot;">The electricity generated from the project will be connected to the national grid through a 44 km long transmission line through the substation at Nawalpur in Sarlahi. The project is expected to be complete in FY 2082/83. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13129',
			'article_category_id' => '1',
			'title' => 'Domestic Airliners Hike Airfare from Today ',
			'sub_title' => '',
			'summary' => 'March 5: Domestic airline operators have decided to increase the airfare of all domestic flights from today (March 5) due to the rise in the price of Aviation Turbine Fuel (ATF) sincce March 1.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">March 5: Domestic airline operators have decided to increase the airfare of all domestic flights from today (March 5) due to the rise in the price of Aviation Turbine Fuel (ATF) sincce March 1.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Airline Operators Association of Nepal (AOAN), the umbrella body of domestic airlines in Nepal, issued a statement on March 4 informing that all its member airlines will increase the airfare of all domestic flights effective from March 5.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">According to AOAN, its members, in coordination with the Civil Aviation Authority of Nepal (CAAN), have decided to increase the airfare following the decision of Nepal Oil Corporation (NOC) on March 1 to increase the price of ATF.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Nepal Oil Corporation (NOC) increased the price of ATF for domestic flights by Rs 5 per litre from midnight on March 1.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Previously, NOC had increased the price of ATF on February 16, and domestic operators had raised the airfare on February 20. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The airfare is determined based on three components- airfare fixed by the government, fuel surcharge, and airport taxes.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">AOAN along with CAAN and the Ministry of Tourism have set a pricing formula comprising of all three components of airfare pricing. Based on the formula, the airfare is determined and approved by CAAN.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">According to a statement issued by AOAN, the association and its member airlines have decided to increase the airfare inline with the government&#39;s decision on May 10, 2018, to allow AAON and airline operators to adjust the fuel surcharge in accordance to the fuel price.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">After the rise, the airfare of mountain flights from Kathamndu has increased by Rs 170. The price has been fixed at Rs 2470.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Likewise, the airfare of the Kathmandu-Bhadrapur fligh has been increased by Rs 60 per person.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The price of Kathmandu-Dhangadhi flight has been increased by Rs 220 per person while the airfare of the Kathamndu-Pokhara flight has been increased by Rs 80 per person.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Kathamndu-Simara airfare has also been increased by Rs 45 with the rise in fuel surcharge of Rs 45. The airfare of Doti-Sanfebagar route has increased by Rs 20. </span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '13128',
			'article_category_id' => '1',
			'title' => 'More Women Entrepreneurs Borrowing from Financial Institutions due to Pandemic',
			'sub_title' => '',
			'summary' => 'March 5: Despite the effects of Covid-19 pandemic, loans offered to women entrepreneurs have increased by 85 percent in the last seven months. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">March 5: Despite the effects of Covid-19 pandemic, loans offered to women entrepreneurs have increased by 85 percent in the last seven months.&nbsp; According to South Asia Watch on&nbsp; Trade, Economics and Environment (SAWTEE), such information was shared during a webinar organized on March 4 on the impact of the COVID-19 on women entrepreneurs in Nepal.</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">By mid-July 2020 financial institutions&rsquo; lending to women entrepreneurs stood at Rs 4 billion while the amount has reached Rs 27 billion as of now, informed Dr Gunakar Bhatta, executive director of Nepal Rastra Bank (NRB) at the webinar titled &lsquo;Towards recovery: Women entrepreneurs coping with the pandemic&rsquo; organised by SAWTEE. He also pointed out that the number of female borrowers has also increased three folds during the period.</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">Highlighting the difficulty in access to finance experienced by the women entrepreneurs, Chandni Joshi, senior gender, rights and policy specialist, expressed that investing in women should not be considered a charity but as a smart decision. She urged the private sector to invest in women-owned/-led businesses as viable business decisions.</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">Shobha Gurung, vice president of the Federation of Nepalese Cottage and Small Industries (FNCSI), pointed out the difficulty faced by their members as the economic activities shut-down but they also utilized the period to enhance the digital and financial literacy of the members. She pointed out that during disasters like these, small businesses need more support from the government to survive.</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">Reeta Simha, president&nbsp; of the Federation of Women Entrepreneurs&rsquo; Association of Nepal (FWEAN), also seconded that suggestion. She also insisted along with the soft skills entrepreneurs need better support in the form of finances for their recovery and revival.</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">Dr Mona Shrestha Adhikari, CEO of Enterprise for Management, Economic Reform and Gender Equality (EMERGE), added that women entrepreneurs need more support to help transition from brick-and-mortar setting to digital. She added more analysis is needed to examine disaster impacts through a gender lens.</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">According to a statement issued by SAWTEE, the webinar was organized to disseminate the findings of a small-scale survey of women entrepreneurs engaged in the manufacturing sector to examine the impact of the pandemic on their ability to do business. The survey found that 61 percent of the women-owned businesses reported having been affected severely by the pandemic and the lockdown measures; 57 percent of the respondent sought loans to cope with the pandemic; 56 percent of the respondents used e-commerce platforms for sales or promotion during the period. Further, 92 percent of the respondents were not aware of any support facilities offered by the government, the statement quoted Dikshya Singh, senior research officer of SAWTEE, as saying.</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">Dr Posh Raj Pandey, chairman of SAWTEE, pointed out the lack of mentorship offered to women entrepreneurs, by private sector associations, government and civil society, during the pandemic to help them innovate and shift towards the digital landscape.</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">The participants in the webinar included women entrepreneurs, representatives from civil society, policymakers and academia. The participants pointed out limited access to information for the women entrepreneurs that inhibits their ability to expand their businesses. Similarly, they also insisted that the difficulty in accessing finance needs to be addressed for enhancing women&rsquo;s participation in the entrepreneurial ecosystem.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>
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		'Article' => array(
			'id' => '13127',
			'article_category_id' => '1',
			'title' => 'Buddha Air to fly on Janakpur-Ayodhya Route   ',
			'sub_title' => '',
			'summary' => 'March 5: Buddha Air is operating direct flights to Ayodhya of India from Janakpur of Nepal for the promotion of religious tourism.     ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">March 5: Buddha Air is operating direct flights to Ayodhya of India from Janakpur of Nepal for the promotion of religious tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Buddha Air stated that it was going to expand its flight service to Ayodhya with the goal of attracting religious tourists on the basis of the ancient, religious relations between the two important religious cities.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The relation between Sita and Ram continues from the &lsquo;Treta Yug&rsquo; and operation of direct flight from Janakpurdham to Ayodhya is to connect these two cities that have a historical and religious connection. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Buddha Air has applied to the Ministry of Culture, Tourism and Civil Aviation and to the Civil Aviation Authority of Nepal (CAAN) for permission for operating the flight. It has also sent a memo of the application to the Province 2 government.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Agreement had been signed for establishing sister city relations between Janakpur and Ayodhya, promotion of the &#39;Ramayana Circuit&#39;, among others during the visit of Indian Prime Minister Narendra Modi to Nepal three years ago.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The duration of flight from Janakpur to Ayodhya would be 50 minutes. -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '13126',
			'article_category_id' => '1',
			'title' => 'Nepal’s economy plunges into recession ',
			'sub_title' => 'CBS revised forecasts show a sharp contraction in GDP for two consecutive quarters, sending Nepal’s economy into recession between mid April and mid September due to Covid-19     ',
			'summary' => 'March 4: Nepal’s economy has plunged into a recession for the first time in its history as GDP witnessed negative growth rates for two consecutive quarters.  ',
			'content' => '<p><em><strong>SAGAR GHIMIRE</strong></em><br />
March 4: Nepal&rsquo;s economy has plunged into a recession for the first time in its history as GDP witnessed negative growth rates for two consecutive quarters.</p>

<p>According to newly released GDP figures by the Central Bureau of Statistics (CBS), the economy shrank 15.4 percent in the fourth quarter of the last fiscal year 2019/20 followed by a contraction of 4.6 percent in the first quarter of the current fiscal year 2020/21.&nbsp;</p>

<p>The CBS forecast of declines in GDP growth for two consecutive quarters meet the standard definition for recession, according to economists. This is the first time that the economy has gone into recession since the CBS started to publish the National Accounts report in 1961/62, according to a senior official at the Nepal Rastra Bank (NRB).</p>

<p>&ldquo;These forecasts of GDP declines show that the economy was in recession during this period. We have not seen such deep contraction in the GDP since CBS started to publish the National Accounts report in 1961/62. There has not been a decline for two consecutive quarters since the CBS started to release quarterly figures in 2004/05,&rdquo; said the senior official at the NRB, requesting anonymity as he is not authorized to comment on growth figures.</p>

<p>Economists also agree that the contractions represent the recession that Nepal&rsquo;s economy underwent for at least six months.</p>

<p>&ldquo;The quarterly data shows that the economy is technically in a recession, but recovery is underway. The extent of contraction is less in the first quarter of the current fiscal year 2020/21 compared to the fourth quarter of the last fiscal year 2019/20,&rdquo; Chandan Sapkota, an economist, told New Business Age.<br />
Covid-19 is the main culprit for the contraction in the economy, according to officials and economists.</p>

<p>As the government imposed nationwide lockdown in March last year for nearly four months to contain the spread of coronavirus, economic activities in almost all sectors collapsed.<br />
The impact of the lockdown in the economy at the fourth quarter was so significant that it pulled the growth rate of the entire fiscal year into the negative territory.<br />
The CBS forecasts that the Nepal&rsquo;s economy slumped 1.99 percent in the last fiscal year, down from its preliminary estimate of a growth by 2.27 percent.<br />
In its preliminary forecast released in April, the CBS had painted somewhat rosy growth prospect for Nepal even when other countries were reporting a sharp contraction in their economies.</p>

<p>CBS officials say that their preliminary forecast was based on an assumption that the lockdown would be short-term and end by June which would lead economic activities to normality.&nbsp; &nbsp;</p>

<p>&ldquo;The country was in a complete lockdown until mid July last year which disrupted most of the economic activities longer than we had anticipated in our preliminary forecast,&rdquo; said Ganesh Prasad Acharya, a director at National Account Section at the CBS.</p>

<p>The CBS move to change the base year for the calculation of GDP estimates&mdash;a process known as rebasing of National Account statistics&mdash;is also said to have contributed to the decline of GDP growth to some extents. The base year 2000/01 has now been replaced with 2010/11.&nbsp; &nbsp;</p>

<p>&ldquo;Rebasing increased the share of services sector in GDP but reduced that of agri. High contact services sectors such as retail and wholesale, and travel and tourism were battered by COVID-19 and the lockdowns. This contributed to deeper contraction,&rdquo; said Economist Sapkota.</p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '13125',
			'article_category_id' => '1',
			'title' => 'Private Sector Upbeat as Government Holds Talks with Biplav-led Party',
			'sub_title' => 'Maoist Outfit led by Netra Bikram Chand Gives up Violence following a 3-Point Deal with Government',
			'summary' => 'March 4: The private sector of Nepal is upbeat about the government holding talks with the outlawed Communist Party (CPN) of Nepal led by Netra Bikram Chand (Biplav), as it will pave the way for economic development.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 4: The private sector of Nepal is upbeat about the government holding talks with the outlawed Communist Party (CPN) of Nepal led by Netra Bikram Chand (Biplav), as it will pave the way for economic development.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The private sector is keeping fingers crossed for the success in negotiations with the Biplav-led party as it will assist in creating an investment friendly environment, increase industrial production and facilitate export and import system.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Rajesh Kaji Shrestha, president of Nepal Chambers of Commerce (NCC), said it will be a significant achievement if the talks with the party involved in conflict end successfully. It will help in effective implementation of the constitution by ending political instability.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Satish Kumar More, president of the Confederation of Nepalese Industries (CNI), said it is a positive thing that the government has initiated talks with the party that has raised armed conflict. He opined that all the parties should come into mainstream politics and empower the country financially. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;If the parties involved in violent activities come into peace politics, industries can increase production and consolidate import system. If the government brings all the parties into mainstream politics, it will create suitable environment for the private sector to work and the ambitious goals set by the government can be achieved,&rdquo; he said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Home Minister Ram Bahdur Thapa in a recent Facebook post said that the government has reached historic agreement with the Biplav-led party.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The talks were held in two phases on Wednesday - morning and evening &ndash; and also continued on Thursday. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Minister Thapa said that the government has reached a three-point understanding with the CPN and the talks have concluded successfully. According to Minister Thapa, the Maoist outfit has agreed to give up violence and organize all its political activities peacefully. Meanwhile, the government has also agreed to lift the ban on the outfit and also to release all its political prisoners, reads the agreement paper posted on Facebook by Minister Thapa. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Home Minister Ram Bahadur Thapa and Prime Minister&rsquo;s Foreign Advisor Rajan Bhattarai had represented the government during the talks while Khadga Bahadur Biswokarma and Uday Chalaune attended the meetings on behalf of the Biplav-led party. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Minister Thapa and Bishokarma were fellow warriors during the decade-long Maoist insurgency. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The Cabinet Meeting in March 2019 had banned Biplav-led party after it engaged in criminal activities such as arson, bomb blasts, and vandalism. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/156586457_941748426364789_5811160874880962503_o.jpg" style="height:1469px; width:1000px" /></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '13124',
			'article_category_id' => '1',
			'title' => 'Finance Ministry to Release Rs 1.8 Billion for Health Facilities in 113 Local Units',
			'sub_title' => '',
			'summary' => 'March 4: The Ministry of Finance has decided to release conditional grant of Rs 1.8 billion rupees for under-construction health facilities in 113 local units.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">March 4: The Ministry of Finance has decided to release conditional grant of Rs 1.8 billion rupees for under-construction health facilities in 113 local units.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;Finance Minister Bishnu Prasad Poudel has approved the grant for the health facilities being constructed at ward levels of the local units. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has adopted a policy to avail health service at all wards of the local units. As per this policy, a total of 2,626 health facilities are currently being constructed. The government will release the fund under the heading of budget transfer upon completion of the work.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to spokesperson of Finance Ministry Suman Dahal, the government has allocated Rs 4.2 billion for the construction of health facilities in the current fiscal year. The ministry has already released Rs 2.69 billion for the purpose.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry had secure source of investment worth Rs 57.97 billion for constructing basic health facilities in each and every local unit. After finalizing the budget, the government had laid the foundation stones for constructing health facilities in 308 local units on November 30, 2020.</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2021-03-04 14:07:40',
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		'Article' => array(
			'id' => '13123',
			'article_category_id' => '1',
			'title' => 'Gold Dealers Shift Focus toward Exporting Jewellery ',
			'sub_title' => 'Demand for Gold High Among Nepali Expats',
			'summary' => 'March 4: The sales of gold jewellery in the domestic market of Nepal have declined due to the rise in inflation rate and the Covid-19 pandemic.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">March 4: The sales of gold jewellery in the domestic market of Nepal have declined due to the rise in inflation rate and the Covid-19 pandemic. As a result, gold traders have started exporting gold ornaments abroad. According to the Customs Department data, entrepreneurs have been exporting jewellery from the beginning of the current fiscal year.<br />
The last time Nepal exported gold jewellery was in FY 2016/17. Gold jewellery items of 615 kg were exported to China in FY 2016/17. Since, then Nepal had not exported gold jewelry, according to the customs department. However, traders say that a small amount of gold jewellery may have been exported abroad during the period.<br />
The data from the department show that the large-scale export of gold jewellery started only from the beginning of the current fiscal year.<br />
According to the statistics of the department, in the first 7 months of the current fiscal year, gold jewellery worth Rs 156.769 million have been shipped abroad. During this period, 12 kg of gold jewellery have been exported.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">Krishna Bajagain, a senior officer at the Trade and Export Promotion Center, informed that Nepal has recently started exporting gold jewellery.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">&nbsp;&quot;Until last year, there was not much export of such jewellery. However, it is growing this year,&quot; he informed.<br />
Jewellery worth Rs 17.37 million were exported in the first month of the current fiscal year.<br />
According to the department, Nepal is currently exporting gold jewellery to Australia, Hong Kong, and the United States.<br />
Lately, the number of Nepali nationals settling in Australia, Honk Kong and the USA has been growing.<br />
President of the Federation of Nepalese Gold and Silver Dealers Association Manik Ratna Shakya informed that gold ornaments are demanded by the Nepalis living abroad.<br />
He informed that the demand for gold is growing among Nepali nationals living abroad. &quot;They prefer jewellery made in Nepal,&quot; he added.<br />
He informed that some businessmen have been exporting jewellery made in Nepal through their business partners abroad. Apart from this, Nepalis who go abroad also carry gold jewellery through &#39;hand luggage&rsquo;, Shakya shared.<br />
&quot;Looking at the current growth, it seems that the export of gold jewellery will also increase in the coming days. Therefore, the government needs to immediately increase the quota of gold import,&quot; he added.</span></span></span></p>
',
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			'sortorder' => '12869',
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			'article_date' => '2021-03-04 12:18:33',
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		'Article' => array(
			'id' => '13122',
			'article_category_id' => '1',
			'title' => 'Govt Initiates Process to Launch Water Transportation: Minister Nembang',
			'sub_title' => '',
			'summary' => 'March 4: Minister for Physical Infrastructure and Transport, Basant Kumar Nembang, has said the government has already forwarded the process to launch water transportation in the big rivers of the country, according to the state-run national news agency RSS.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">March 4: Minister for Physical Infrastructure and Transport, Basant Kumar Nembang, has said the government has already forwarded the process to launch water transportation in the big rivers of the country, according to the state-run national news agency RSS.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">RSS stated that the minister made such announcement during a ministerial level virtual meeting organized by India on &#39;Maritime India Summit 2021&#39; on Tuesday, March 2.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He shared that study is underway to conduct water transportation in the Karnali, Narayani, Kaligandaki and Koshi Rivers and connect India via waterways. The government is actively involved in implementing the agreement, treaty and the international commitment relating to water transportation, RSS quoted the minister as saying.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;Nepal has been making efforts since a long time to conduct water transportation,&quot; Minister Nembang said, reminding that Nepal had brought the Act on Operation of Ship way back in 1971. He further said the present government has given top priority to the water transportation.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Moreover, Minister Nembang argued that transportation is the basic infrastructures to ensure development and prosperity in the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The three-day summit inaugurated by Indian Prime Minister Narendra Modi will conclude today (March 4). </span></span></span></p>
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			'sortorder' => '12868',
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			'article_date' => '2021-03-04 08:05:04',
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		'Article' => array(
			'id' => '13121',
			'article_category_id' => '1',
			'title' => 'Nepal Rastra Bank raises daily limit for internet, mobile payments ',
			'sub_title' => 'Daily limit for transactions through mobile banking hiked to Rs 100,000, merchant payment through internet to Rs 2 million and fund transfer through internet to Rs 2 million   ',
			'summary' => 'Daily limit for transactions through mobile banking hiked to Rs 100,000, merchant payment through internet to Rs 2 million and fund transfer through internet to Rs 2 million   ',
			'content' => '<p>MARCH 3: Nepal Rastra Bank (NRB) has raised the daily limit for payments and fund transfers through mobile and internet channels.</p>

<p>Issuing a circular to the licensed entities to carry out payment related activities on Wednesday, the NRB&mdash;the central bank&mdash;revised the existing upper limit that it had fixed on transactions carried out through mobile and internet banking.</p>

<p>According to the revised limit, the per day limit for mobile banking transaction has been increased to Rs 200,000 from Rs 100,000.</p>

<p>The new revision will now allow clients with internet banking facility to make merchant payment up to Rs 2 million per day, up from previous limit of Rs 1 million.</p>

<p>Similarly, the central bank has now capped the daily limit for the fund transfer from one account to another account through internet at Rs 2 million. Earlier, such cap was Rs 1 million per day.</p>

<p>However, the upper limit does not affect payments and transfers for a number of transactions as listed by the central bank including fund transfer from one account to another account of the same person in the same bank or financial institution, tax payments, utility bill payments and bill payments of schools and colleges, hospitals, airlines and hotels, among others.</p>

<p>&nbsp;</p>
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			'sortorder' => '12867',
			'image' => '20210303064801_NRB_photo.jpg',
			'article_date' => '2021-03-03 18:31:30',
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			'id' => '13120',
			'article_category_id' => '1',
			'title' => 'Price of Iron Rods Increases with the Rise in Cost of Billet  ',
			'sub_title' => '',
			'summary' => 'March 3: At a time when the production capacity and consumption of cement and rod industries has been increasing, the price of iron rods has also gone up.  ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">March 3: At a time when the production capacity and consumption of cement and rod industries has been increasing, the price of iron rods has also gone up. &nbsp;<br />
The price of iron rods that increased by Rs 15-20 per kilogram in November has again grown by Rs 4 per kg.<br />
However, the price of cement, another key building material, has remained unchanged.<br />
According to rod manufacturers and sellers, the price of rods has started rising again in the last two weeks. On March 2, the average factory price of a single piece of iron rod, including VAT, has been fixed at Rs 74. They say the price could rise again.<br />
According to an official of Laxmi Steels, the market price will be higher as transportation cost and other expenses will be added to the factory price.<br />
He informed NBA that the price of &nbsp;rods had increased to Rs 70 just&nbsp;3 weeks ago.<br />
&quot;The price of iron rods has been increasing in Nepal, as the price of billet has increased in the international market,&quot; he informed.<br />
Even though the price of cement and its raw material does not fluctuate much because they are produced in Nepal, billets have to be imported from India and other countries.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria">Although the price of iron rod has been declining for some time, now the price of billet is increasing and it may go up further, said a producer.<br />
According to him, as the value of dollar has risen and the price of raw materials has also grown, the price of rods is expected to rise further by next week. The rod manufacturers say they paid USD 525 per tonne to import billets until February 28.<br />
The official informed that the price of imported billets will increase more, and the price of rods will also increase in the Nepali market. Earlier, they had to pay USD 505 for a tonne of billet.<br />
The US dollar value grew from 116 to 117.97 on March 2, and the price of iron rod is expected to rise slightly. As it is the season of construction, cement and steel rod industries have increased their production capacity between 80 to 90 percent. Use of construction materials, which had been severely affected by COVID-19, is growing along with the demand.</span></span></p>
',
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			'description' => '',
			'sortorder' => '12866',
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			'article_date' => '2021-03-03 15:27:44',
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		'Article' => array(
			'id' => '13119',
			'article_category_id' => '1',
			'title' => 'Import of Electric Vehicles Declines by 50 Percent',
			'sub_title' => '',
			'summary' => 'March 3: The import of electric vehicles into the country has declined by half in the first seven months of the current fiscal year 2021/21 due to heavy taxes levied on them. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 3: The import of electric vehicles into the country has declined by half in the first seven months of the current fiscal year 2021/21 due to heavy taxes levied on them. On the other hand, the import of vehicles that run on diesel/petrol has increased by 60 percent.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">In the review period, a total of 2051 electric vehicles have been imported. Of the imported electric vehicles, 103 are electric jeep, car, van and the remaining are three wheelers (auto-rikshaw). In the corresponding period of last fiscal year, 4204 electric vehicles were imported into Nepal. This number includes all kinds of electric vehicles. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">According to the National Automobile Dealers Association (NADA), more than 600 electric jeeps, cars and vans were imported in the first six months of the last fiscal year. Sunil Rijal, general secretary of NADA, said the import ratio has gone down due to a hike in electric vehicles taxes. The government hiked the customs duty levied on electric vehicles from 10 percent to 30 percent in the latest budget. However, later it was decided to provide waiver on excise duty and other taxes. Still, the electric vehicles are subjected to 40 percent tax which has plunged its market demand, said Rijal. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Although the import of electric vehicles has declined, the import of gasoline-powered automobiles has gone up. In the review period, the import of jeeps, motorbikes and trucks has increased. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Traders say that lengthy banking procedures on auto loan is another reason for decline in import of electric vehicles.&nbsp; Sundar Yatayat had launched four electric buses two years ago and was planning to operate another 25 electric buses. Bhesh Bahadur Thapa, president of Sundar Yatayat, said the difficulty in acquiring loan for electric vehicles has stalled the process. After a long hassle, banking institutions have agreed to finance electric vehicles on Tuesday, he said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Krishna Prasad Dulal, president of NADA, said the hike in import of gasoline-powered vehicles is for a limited period only. The increase is attributed to easy financing service provided by banks and resumption of the market after a long gap of ten months. </span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13133',
			'article_category_id' => '1',
			'title' => 'Launchpad 2021 aims to Bring Job Seekers and Employers Under One Roof',
			'sub_title' => '',
			'summary' => 'March 5: PeopleFirst, an organization working to uplift human resources in Nepal, is organising a three-day career and job fair, Launchpad 2021, from March 11 to 13 in Kathmandu. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial">March 5: PeopleFirst, an organization working to uplift human resources in Nepal, is organising a three-day career and job fair, Launchpad 2021, from March 11 to 13 in Kathmandu. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Issuing a statement on Thursday, March 4, PeopleFirst said that Launchpad 2021 is an equal opportunity event for job seekers and employers alike. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">&ldquo;It gives employers the opportunity to meet, inform and interview hundreds of potential candidates while job seekers get the chance to know more about the quality of workforce demanded by companies, the skills and the mindset required in the present workplace scenarios,&rdquo; the statement added.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">According to the organiser, Launchpad 2021 takes a holistic approach towards the promotion of market efficiency- placing the right people with the right skills at the right placement.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">The statement informs that career counselling seminar and panel discussions will take place over a virtual platform on 11th and 12th of March 2021 respectively. Career Counselling Seminar which will be conducted by the Vice Dean of Johns Hopkings University aims to guide participants by making them aware about the requirements of various job opportunities available throughout the world.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">In panel discussions, the panelists will be sharing their expertise regarding human resource planning and various employee hiring policies. Meanwhile, the job expo will be conducted on 13th of March 2021 at Radisson Hotel, Kathmandu, where employers and job seekers will meet under one roof to personally interact with each other, the statement further reads.</span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Understanding the need of the rift that the recent pandemic has created in the job market, PeopleFirst said it has come up with an excellent opportunity for all the job givers and seekers. </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Arial">Launchpad is being organised in partnership with Kathmandu College of Management (KCM), Nepalese Young Entrepreneurs&#39; Forum (NYEF), Turkish Airlines, KTM CTY, iClean technology, Mastakala, Maitreya Furniture, New Business Age, Events Mo and CSIT.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '13132',
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			'title' => 'FHAN Organising Women’s Handicraft Fair 2077 ',
			'sub_title' => '',
			'summary' => 'March 5: On the occasion of the 111th International Women’s Day, the Federation of Handicraft Association of Nepal (FHAN) and Lalitpur Metropolitan City are jointly organising Women Handicraft Fair 2077 with the slogan “Promoting Handicraft, Promoting Women Empowerment”. ',
			'content' => '<p><em>File Photo: NBA</em></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">March 5: On the occasion of the 111<sup>th</sup> International Women&rsquo;s Day, the Federation of Handicraft Association of Nepal (FHAN) and Lalitpur Metropolitan City are jointly organising Women Handicraft Fair 2077 with the slogan &ldquo;Promoting Handicraft, Promoting Women Empowerment&rdquo;. The fair is scheduled to be held from March 6 to March 8, 2021 on the premises of Lalitpur Metropolitan City. </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:&quot;Times New Roman&quot;">According to a press statement issued by the organisers, the event aims to promote the handicraft products made by women entrepreneurs. </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:&quot;Times New Roman&quot;">There will be around 50 stalls in the fair. Products made of natural fibers such as ketuke, cardamom, banana, allo, and bamboo, as well as woodwork, silver and metal jewelry, felt, crystal goods, bone and horn products, beads, products made from wool, cotton and Dhaka, pashmina, handmade paper goods, ceramics, and glass products will be kept for exhibition and sale. </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:&quot;Times New Roman&quot;">Women and indigenous entrepreneurs, who are involved in cottage and small producers, from different places of Kathmandu will be involved in the fair and help in promotion and market development of local handicraft. </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:&quot;Times New Roman&quot;">The press statement further reads, &ldquo;This kind of fair is expected to help women entrepreneurs in business promotion and development and boost their self-confidence.&rdquo; </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:&quot;Times New Roman&quot;">The trade fair will be attended by high ranking officials of the Government of Nepal, local government, different orgnisations, businessmen involved in handicraft industry, exporters and personalities representing various local organizations and the general public.</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:&quot;Times New Roman&quot;">As per the press statement, the fair will be inaugurated by Chiribabu Maharjanju, Mayor of Lalitpur Metropolitan City. </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:&quot;Times New Roman&quot;">The FHAN is celebrating the Handicraft Year by organising various promotional programs throughout the year with the slogan &quot;Possibilities for Prosperity of Handicrafts &quot;. Similarly, a women&#39;s handicraft fair was organized in Janakpurdham of Province No. 2 in the first phase with the support of the Government of Nepal, Ministry of Women, Children and Senior Citizens from 14 February to 16 February, 2021. In the second phase, the fair is being organised in Lalitpur. </span></span></span></span></p>
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			'title' => 'Industrialists Seek for Debt Recovery Law',
			'sub_title' => '',
			'summary' => 'March 5: Industries that are trying to bounce back from the impact of the COVID-19 pandemic have sought for debt recovery law from the government to recover their outstanding dues from the market. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 5: Industries that are trying to bounce back from the impact of the COVID-19 pandemic have sought for debt recovery law from the government to recover their outstanding dues from the market. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Industrialists have asked for a policy-level decision to include debt recovery provision from the upcoming year&rsquo;s budget. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">With an end to political transition, the flow of investment has increased with expectation of increase in the development activities. But the market size has downsized leading to competition. Industrialists say that the market size has declined because of the weak spending of the government coupled with the impact of COVID-19 pandemic. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Due to heavy competition within the limited market, traders say they are compelled to provide services on credit. Traders have sought for debt recovery law to manage this chaotic market and reduce its long-term impact on economy. Expecting a rise in economic activities, food production sector and construction materials industry have made huge investments. Industries involved in production of cement, rod, and food items such as rice, oil, pulses have received new investment. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;These industries are still receiving new investment,&rdquo; said Subodh Gupta, president of the Association of Rice, Oil and Pulses Industry. As the market has not increased in proportion to the investment, industries are opting for ways to minimize loss, Gupta said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Increase in competition has made industries to extend credit period. In the initial phase, industries were trying to sustain in the market by reducing the market price. Right now, industries are extending the credit period,&rdquo; said Biswamitra Prasad Kalwar, managing director of Om Food Industry. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Gupta said the Association has been asking for debt recovery law with the government since last year. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Because of the pandemic, the demand of the essential food items has also gone down which indicates the purchasing power of customers has also gone down,&rdquo; said Gupta. COVID-19 pandemic has affected progress of development projects as well. The market demand of construction materials has also declined since the government couldn&rsquo;t make capital expenditure effective. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Unhealthy competition is on the rise with the decline in demand and increase in investment,&rdquo; said Rajesh Kyal, an industrialist. &ldquo; At normal times, credit transactions are being done for a period of a month which now has increased to more than six months,&rdquo; Kyal said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Traders say that if legal provision is introduced limiting credit period for a month, capital can be arranged for another five months. With the arrangement of capital, the production cost can also be reduced, argues Gupta. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;Lack of strict provisions on credit period has invited chaos in the market. If mandatory provision is introduced, it will assist in reducing burden of interest rate along with the production cost,&rdquo; said Pradip Kediya, former President of Birgunj chapter of the Federation of Nepalese Chambers of Commerce and Industry. </span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13130',
			'article_category_id' => '1',
			'title' => 'Prime Minister Oli says Nepal will be Self-Reliant on Food within 5 Years ',
			'sub_title' => '',
			'summary' => 'March 5: Prime Minister KP Sharma Oli has claimed that the country will become self-reliant on food grains within the next five years.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">March 5: Prime Minister KP Sharma Oli has claimed that the country will become self-reliant on food grains within the next five years.</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:&quot;Times New Roman&quot;">He made such remarks while laying the foundation stone of the Sunkoshi Marin Diversion Multipurpose Project on Thursday (March 4) and added that the country will also be able to export them by that time. </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:&quot;Times New Roman&quot;">The construction of the diversion project has been started with the aim of providing irrigation to 183,000 bigahas of land in five districts of the Terai (Bara, Rautahat, Sarlahi, Mahottari and Dhanusha) and generating 31 MW of electricity. PM Oli said that once the irrigation facility is available, the food grains produced in those districts will not only be sufficient for Nepal and will also be in excess for export.&nbsp; </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:&quot;Times New Roman&quot;">In a separate context, PM Oli also said that the government is now working on a plan to extend 4G service across the country through optical fiber. </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:&quot;Times New Roman&quot;">The water of Sunkoshi from the project will be discharged into the Marin River at the rate of 67,000 liters per second. This water will then be released into the Bagmati River to provide irrigation facility. Under this project, a 158-meter long barrage, 150-meter long descending basin and 13.3 km long tunnel will be constructed from Khurkot of Sindhuli over the Sunkoshi River. </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:&quot;Times New Roman&quot;">The electricity generated from the project will be connected to the national grid through a 44 km long transmission line through the substation at Nawalpur in Sarlahi. The project is expected to be complete in FY 2082/83. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13129',
			'article_category_id' => '1',
			'title' => 'Domestic Airliners Hike Airfare from Today ',
			'sub_title' => '',
			'summary' => 'March 5: Domestic airline operators have decided to increase the airfare of all domestic flights from today (March 5) due to the rise in the price of Aviation Turbine Fuel (ATF) sincce March 1.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">March 5: Domestic airline operators have decided to increase the airfare of all domestic flights from today (March 5) due to the rise in the price of Aviation Turbine Fuel (ATF) sincce March 1.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Airline Operators Association of Nepal (AOAN), the umbrella body of domestic airlines in Nepal, issued a statement on March 4 informing that all its member airlines will increase the airfare of all domestic flights effective from March 5.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">According to AOAN, its members, in coordination with the Civil Aviation Authority of Nepal (CAAN), have decided to increase the airfare following the decision of Nepal Oil Corporation (NOC) on March 1 to increase the price of ATF.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Nepal Oil Corporation (NOC) increased the price of ATF for domestic flights by Rs 5 per litre from midnight on March 1.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Previously, NOC had increased the price of ATF on February 16, and domestic operators had raised the airfare on February 20. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The airfare is determined based on three components- airfare fixed by the government, fuel surcharge, and airport taxes.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">AOAN along with CAAN and the Ministry of Tourism have set a pricing formula comprising of all three components of airfare pricing. Based on the formula, the airfare is determined and approved by CAAN.&nbsp;</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">According to a statement issued by AOAN, the association and its member airlines have decided to increase the airfare inline with the government&#39;s decision on May 10, 2018, to allow AAON and airline operators to adjust the fuel surcharge in accordance to the fuel price.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">After the rise, the airfare of mountain flights from Kathamndu has increased by Rs 170. The price has been fixed at Rs 2470.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Likewise, the airfare of the Kathmandu-Bhadrapur fligh has been increased by Rs 60 per person.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">The price of Kathmandu-Dhangadhi flight has been increased by Rs 220 per person while the airfare of the Kathamndu-Pokhara flight has been increased by Rs 80 per person.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:Times">Kathamndu-Simara airfare has also been increased by Rs 45 with the rise in fuel surcharge of Rs 45. The airfare of Doti-Sanfebagar route has increased by Rs 20. </span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '13128',
			'article_category_id' => '1',
			'title' => 'More Women Entrepreneurs Borrowing from Financial Institutions due to Pandemic',
			'sub_title' => '',
			'summary' => 'March 5: Despite the effects of Covid-19 pandemic, loans offered to women entrepreneurs have increased by 85 percent in the last seven months. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">March 5: Despite the effects of Covid-19 pandemic, loans offered to women entrepreneurs have increased by 85 percent in the last seven months.&nbsp; According to South Asia Watch on&nbsp; Trade, Economics and Environment (SAWTEE), such information was shared during a webinar organized on March 4 on the impact of the COVID-19 on women entrepreneurs in Nepal.</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">By mid-July 2020 financial institutions&rsquo; lending to women entrepreneurs stood at Rs 4 billion while the amount has reached Rs 27 billion as of now, informed Dr Gunakar Bhatta, executive director of Nepal Rastra Bank (NRB) at the webinar titled &lsquo;Towards recovery: Women entrepreneurs coping with the pandemic&rsquo; organised by SAWTEE. He also pointed out that the number of female borrowers has also increased three folds during the period.</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">Highlighting the difficulty in access to finance experienced by the women entrepreneurs, Chandni Joshi, senior gender, rights and policy specialist, expressed that investing in women should not be considered a charity but as a smart decision. She urged the private sector to invest in women-owned/-led businesses as viable business decisions.</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">Shobha Gurung, vice president of the Federation of Nepalese Cottage and Small Industries (FNCSI), pointed out the difficulty faced by their members as the economic activities shut-down but they also utilized the period to enhance the digital and financial literacy of the members. She pointed out that during disasters like these, small businesses need more support from the government to survive.</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">Reeta Simha, president&nbsp; of the Federation of Women Entrepreneurs&rsquo; Association of Nepal (FWEAN), also seconded that suggestion. She also insisted along with the soft skills entrepreneurs need better support in the form of finances for their recovery and revival.</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">Dr Mona Shrestha Adhikari, CEO of Enterprise for Management, Economic Reform and Gender Equality (EMERGE), added that women entrepreneurs need more support to help transition from brick-and-mortar setting to digital. She added more analysis is needed to examine disaster impacts through a gender lens.</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">According to a statement issued by SAWTEE, the webinar was organized to disseminate the findings of a small-scale survey of women entrepreneurs engaged in the manufacturing sector to examine the impact of the pandemic on their ability to do business. The survey found that 61 percent of the women-owned businesses reported having been affected severely by the pandemic and the lockdown measures; 57 percent of the respondent sought loans to cope with the pandemic; 56 percent of the respondents used e-commerce platforms for sales or promotion during the period. Further, 92 percent of the respondents were not aware of any support facilities offered by the government, the statement quoted Dikshya Singh, senior research officer of SAWTEE, as saying.</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">Dr Posh Raj Pandey, chairman of SAWTEE, pointed out the lack of mentorship offered to women entrepreneurs, by private sector associations, government and civil society, during the pandemic to help them innovate and shift towards the digital landscape.</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">The participants in the webinar included women entrepreneurs, representatives from civil society, policymakers and academia. The participants pointed out limited access to information for the women entrepreneurs that inhibits their ability to expand their businesses. Similarly, they also insisted that the difficulty in accessing finance needs to be addressed for enhancing women&rsquo;s participation in the entrepreneurial ecosystem.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span></p>
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		'Article' => array(
			'id' => '13127',
			'article_category_id' => '1',
			'title' => 'Buddha Air to fly on Janakpur-Ayodhya Route   ',
			'sub_title' => '',
			'summary' => 'March 5: Buddha Air is operating direct flights to Ayodhya of India from Janakpur of Nepal for the promotion of religious tourism.     ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">March 5: Buddha Air is operating direct flights to Ayodhya of India from Janakpur of Nepal for the promotion of religious tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Buddha Air stated that it was going to expand its flight service to Ayodhya with the goal of attracting religious tourists on the basis of the ancient, religious relations between the two important religious cities.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The relation between Sita and Ram continues from the &lsquo;Treta Yug&rsquo; and operation of direct flight from Janakpurdham to Ayodhya is to connect these two cities that have a historical and religious connection. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">Buddha Air has applied to the Ministry of Culture, Tourism and Civil Aviation and to the Civil Aviation Authority of Nepal (CAAN) for permission for operating the flight. It has also sent a memo of the application to the Province 2 government.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Agreement had been signed for establishing sister city relations between Janakpur and Ayodhya, promotion of the &#39;Ramayana Circuit&#39;, among others during the visit of Indian Prime Minister Narendra Modi to Nepal three years ago.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The duration of flight from Janakpur to Ayodhya would be 50 minutes. -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '13126',
			'article_category_id' => '1',
			'title' => 'Nepal’s economy plunges into recession ',
			'sub_title' => 'CBS revised forecasts show a sharp contraction in GDP for two consecutive quarters, sending Nepal’s economy into recession between mid April and mid September due to Covid-19     ',
			'summary' => 'March 4: Nepal’s economy has plunged into a recession for the first time in its history as GDP witnessed negative growth rates for two consecutive quarters.  ',
			'content' => '<p><em><strong>SAGAR GHIMIRE</strong></em><br />
March 4: Nepal&rsquo;s economy has plunged into a recession for the first time in its history as GDP witnessed negative growth rates for two consecutive quarters.</p>

<p>According to newly released GDP figures by the Central Bureau of Statistics (CBS), the economy shrank 15.4 percent in the fourth quarter of the last fiscal year 2019/20 followed by a contraction of 4.6 percent in the first quarter of the current fiscal year 2020/21.&nbsp;</p>

<p>The CBS forecast of declines in GDP growth for two consecutive quarters meet the standard definition for recession, according to economists. This is the first time that the economy has gone into recession since the CBS started to publish the National Accounts report in 1961/62, according to a senior official at the Nepal Rastra Bank (NRB).</p>

<p>&ldquo;These forecasts of GDP declines show that the economy was in recession during this period. We have not seen such deep contraction in the GDP since CBS started to publish the National Accounts report in 1961/62. There has not been a decline for two consecutive quarters since the CBS started to release quarterly figures in 2004/05,&rdquo; said the senior official at the NRB, requesting anonymity as he is not authorized to comment on growth figures.</p>

<p>Economists also agree that the contractions represent the recession that Nepal&rsquo;s economy underwent for at least six months.</p>

<p>&ldquo;The quarterly data shows that the economy is technically in a recession, but recovery is underway. The extent of contraction is less in the first quarter of the current fiscal year 2020/21 compared to the fourth quarter of the last fiscal year 2019/20,&rdquo; Chandan Sapkota, an economist, told New Business Age.<br />
Covid-19 is the main culprit for the contraction in the economy, according to officials and economists.</p>

<p>As the government imposed nationwide lockdown in March last year for nearly four months to contain the spread of coronavirus, economic activities in almost all sectors collapsed.<br />
The impact of the lockdown in the economy at the fourth quarter was so significant that it pulled the growth rate of the entire fiscal year into the negative territory.<br />
The CBS forecasts that the Nepal&rsquo;s economy slumped 1.99 percent in the last fiscal year, down from its preliminary estimate of a growth by 2.27 percent.<br />
In its preliminary forecast released in April, the CBS had painted somewhat rosy growth prospect for Nepal even when other countries were reporting a sharp contraction in their economies.</p>

<p>CBS officials say that their preliminary forecast was based on an assumption that the lockdown would be short-term and end by June which would lead economic activities to normality.&nbsp; &nbsp;</p>

<p>&ldquo;The country was in a complete lockdown until mid July last year which disrupted most of the economic activities longer than we had anticipated in our preliminary forecast,&rdquo; said Ganesh Prasad Acharya, a director at National Account Section at the CBS.</p>

<p>The CBS move to change the base year for the calculation of GDP estimates&mdash;a process known as rebasing of National Account statistics&mdash;is also said to have contributed to the decline of GDP growth to some extents. The base year 2000/01 has now been replaced with 2010/11.&nbsp; &nbsp;</p>

<p>&ldquo;Rebasing increased the share of services sector in GDP but reduced that of agri. High contact services sectors such as retail and wholesale, and travel and tourism were battered by COVID-19 and the lockdowns. This contributed to deeper contraction,&rdquo; said Economist Sapkota.</p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '13125',
			'article_category_id' => '1',
			'title' => 'Private Sector Upbeat as Government Holds Talks with Biplav-led Party',
			'sub_title' => 'Maoist Outfit led by Netra Bikram Chand Gives up Violence following a 3-Point Deal with Government',
			'summary' => 'March 4: The private sector of Nepal is upbeat about the government holding talks with the outlawed Communist Party (CPN) of Nepal led by Netra Bikram Chand (Biplav), as it will pave the way for economic development.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 4: The private sector of Nepal is upbeat about the government holding talks with the outlawed Communist Party (CPN) of Nepal led by Netra Bikram Chand (Biplav), as it will pave the way for economic development.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The private sector is keeping fingers crossed for the success in negotiations with the Biplav-led party as it will assist in creating an investment friendly environment, increase industrial production and facilitate export and import system.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Rajesh Kaji Shrestha, president of Nepal Chambers of Commerce (NCC), said it will be a significant achievement if the talks with the party involved in conflict end successfully. It will help in effective implementation of the constitution by ending political instability.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Satish Kumar More, president of the Confederation of Nepalese Industries (CNI), said it is a positive thing that the government has initiated talks with the party that has raised armed conflict. He opined that all the parties should come into mainstream politics and empower the country financially. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">&ldquo;If the parties involved in violent activities come into peace politics, industries can increase production and consolidate import system. If the government brings all the parties into mainstream politics, it will create suitable environment for the private sector to work and the ambitious goals set by the government can be achieved,&rdquo; he said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Home Minister Ram Bahdur Thapa in a recent Facebook post said that the government has reached historic agreement with the Biplav-led party.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The talks were held in two phases on Wednesday - morning and evening &ndash; and also continued on Thursday. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Minister Thapa said that the government has reached a three-point understanding with the CPN and the talks have concluded successfully. According to Minister Thapa, the Maoist outfit has agreed to give up violence and organize all its political activities peacefully. Meanwhile, the government has also agreed to lift the ban on the outfit and also to release all its political prisoners, reads the agreement paper posted on Facebook by Minister Thapa. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Home Minister Ram Bahadur Thapa and Prime Minister&rsquo;s Foreign Advisor Rajan Bhattarai had represented the government during the talks while Khadga Bahadur Biswokarma and Uday Chalaune attended the meetings on behalf of the Biplav-led party. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Minister Thapa and Bishokarma were fellow warriors during the decade-long Maoist insurgency. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">The Cabinet Meeting in March 2019 had banned Biplav-led party after it engaged in criminal activities such as arson, bomb blasts, and vandalism. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri"><img alt="" src="/app/webroot/userfiles/images/156586457_941748426364789_5811160874880962503_o.jpg" style="height:1469px; width:1000px" /></span></span></p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '13124',
			'article_category_id' => '1',
			'title' => 'Finance Ministry to Release Rs 1.8 Billion for Health Facilities in 113 Local Units',
			'sub_title' => '',
			'summary' => 'March 4: The Ministry of Finance has decided to release conditional grant of Rs 1.8 billion rupees for under-construction health facilities in 113 local units.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">March 4: The Ministry of Finance has decided to release conditional grant of Rs 1.8 billion rupees for under-construction health facilities in 113 local units.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;Finance Minister Bishnu Prasad Poudel has approved the grant for the health facilities being constructed at ward levels of the local units. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has adopted a policy to avail health service at all wards of the local units. As per this policy, a total of 2,626 health facilities are currently being constructed. The government will release the fund under the heading of budget transfer upon completion of the work.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to spokesperson of Finance Ministry Suman Dahal, the government has allocated Rs 4.2 billion for the construction of health facilities in the current fiscal year. The ministry has already released Rs 2.69 billion for the purpose.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry had secure source of investment worth Rs 57.97 billion for constructing basic health facilities in each and every local unit. After finalizing the budget, the government had laid the foundation stones for constructing health facilities in 308 local units on November 30, 2020.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '13123',
			'article_category_id' => '1',
			'title' => 'Gold Dealers Shift Focus toward Exporting Jewellery ',
			'sub_title' => 'Demand for Gold High Among Nepali Expats',
			'summary' => 'March 4: The sales of gold jewellery in the domestic market of Nepal have declined due to the rise in inflation rate and the Covid-19 pandemic.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">March 4: The sales of gold jewellery in the domestic market of Nepal have declined due to the rise in inflation rate and the Covid-19 pandemic. As a result, gold traders have started exporting gold ornaments abroad. According to the Customs Department data, entrepreneurs have been exporting jewellery from the beginning of the current fiscal year.<br />
The last time Nepal exported gold jewellery was in FY 2016/17. Gold jewellery items of 615 kg were exported to China in FY 2016/17. Since, then Nepal had not exported gold jewelry, according to the customs department. However, traders say that a small amount of gold jewellery may have been exported abroad during the period.<br />
The data from the department show that the large-scale export of gold jewellery started only from the beginning of the current fiscal year.<br />
According to the statistics of the department, in the first 7 months of the current fiscal year, gold jewellery worth Rs 156.769 million have been shipped abroad. During this period, 12 kg of gold jewellery have been exported.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">Krishna Bajagain, a senior officer at the Trade and Export Promotion Center, informed that Nepal has recently started exporting gold jewellery.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Arial">&nbsp;&quot;Until last year, there was not much export of such jewellery. However, it is growing this year,&quot; he informed.<br />
Jewellery worth Rs 17.37 million were exported in the first month of the current fiscal year.<br />
According to the department, Nepal is currently exporting gold jewellery to Australia, Hong Kong, and the United States.<br />
Lately, the number of Nepali nationals settling in Australia, Honk Kong and the USA has been growing.<br />
President of the Federation of Nepalese Gold and Silver Dealers Association Manik Ratna Shakya informed that gold ornaments are demanded by the Nepalis living abroad.<br />
He informed that the demand for gold is growing among Nepali nationals living abroad. &quot;They prefer jewellery made in Nepal,&quot; he added.<br />
He informed that some businessmen have been exporting jewellery made in Nepal through their business partners abroad. Apart from this, Nepalis who go abroad also carry gold jewellery through &#39;hand luggage&rsquo;, Shakya shared.<br />
&quot;Looking at the current growth, it seems that the export of gold jewellery will also increase in the coming days. Therefore, the government needs to immediately increase the quota of gold import,&quot; he added.</span></span></span></p>
',
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	(int) 11 => array(
		'Article' => array(
			'id' => '13122',
			'article_category_id' => '1',
			'title' => 'Govt Initiates Process to Launch Water Transportation: Minister Nembang',
			'sub_title' => '',
			'summary' => 'March 4: Minister for Physical Infrastructure and Transport, Basant Kumar Nembang, has said the government has already forwarded the process to launch water transportation in the big rivers of the country, according to the state-run national news agency RSS.',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">March 4: Minister for Physical Infrastructure and Transport, Basant Kumar Nembang, has said the government has already forwarded the process to launch water transportation in the big rivers of the country, according to the state-run national news agency RSS.</span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">RSS stated that the minister made such announcement during a ministerial level virtual meeting organized by India on &#39;Maritime India Summit 2021&#39; on Tuesday, March 2.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">He shared that study is underway to conduct water transportation in the Karnali, Narayani, Kaligandaki and Koshi Rivers and connect India via waterways. The government is actively involved in implementing the agreement, treaty and the international commitment relating to water transportation, RSS quoted the minister as saying.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;Nepal has been making efforts since a long time to conduct water transportation,&quot; Minister Nembang said, reminding that Nepal had brought the Act on Operation of Ship way back in 1971. He further said the present government has given top priority to the water transportation.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Moreover, Minister Nembang argued that transportation is the basic infrastructures to ensure development and prosperity in the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The three-day summit inaugurated by Indian Prime Minister Narendra Modi will conclude today (March 4). </span></span></span></p>
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			'article_date' => '2021-03-04 08:05:04',
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	(int) 12 => array(
		'Article' => array(
			'id' => '13121',
			'article_category_id' => '1',
			'title' => 'Nepal Rastra Bank raises daily limit for internet, mobile payments ',
			'sub_title' => 'Daily limit for transactions through mobile banking hiked to Rs 100,000, merchant payment through internet to Rs 2 million and fund transfer through internet to Rs 2 million   ',
			'summary' => 'Daily limit for transactions through mobile banking hiked to Rs 100,000, merchant payment through internet to Rs 2 million and fund transfer through internet to Rs 2 million   ',
			'content' => '<p>MARCH 3: Nepal Rastra Bank (NRB) has raised the daily limit for payments and fund transfers through mobile and internet channels.</p>

<p>Issuing a circular to the licensed entities to carry out payment related activities on Wednesday, the NRB&mdash;the central bank&mdash;revised the existing upper limit that it had fixed on transactions carried out through mobile and internet banking.</p>

<p>According to the revised limit, the per day limit for mobile banking transaction has been increased to Rs 200,000 from Rs 100,000.</p>

<p>The new revision will now allow clients with internet banking facility to make merchant payment up to Rs 2 million per day, up from previous limit of Rs 1 million.</p>

<p>Similarly, the central bank has now capped the daily limit for the fund transfer from one account to another account through internet at Rs 2 million. Earlier, such cap was Rs 1 million per day.</p>

<p>However, the upper limit does not affect payments and transfers for a number of transactions as listed by the central bank including fund transfer from one account to another account of the same person in the same bank or financial institution, tax payments, utility bill payments and bill payments of schools and colleges, hospitals, airlines and hotels, among others.</p>

<p>&nbsp;</p>
',
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			'image' => '20210303064801_NRB_photo.jpg',
			'article_date' => '2021-03-03 18:31:30',
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		'Article' => array(
			'id' => '13120',
			'article_category_id' => '1',
			'title' => 'Price of Iron Rods Increases with the Rise in Cost of Billet  ',
			'sub_title' => '',
			'summary' => 'March 3: At a time when the production capacity and consumption of cement and rod industries has been increasing, the price of iron rods has also gone up.  ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">March 3: At a time when the production capacity and consumption of cement and rod industries has been increasing, the price of iron rods has also gone up. &nbsp;<br />
The price of iron rods that increased by Rs 15-20 per kilogram in November has again grown by Rs 4 per kg.<br />
However, the price of cement, another key building material, has remained unchanged.<br />
According to rod manufacturers and sellers, the price of rods has started rising again in the last two weeks. On March 2, the average factory price of a single piece of iron rod, including VAT, has been fixed at Rs 74. They say the price could rise again.<br />
According to an official of Laxmi Steels, the market price will be higher as transportation cost and other expenses will be added to the factory price.<br />
He informed NBA that the price of &nbsp;rods had increased to Rs 70 just&nbsp;3 weeks ago.<br />
&quot;The price of iron rods has been increasing in Nepal, as the price of billet has increased in the international market,&quot; he informed.<br />
Even though the price of cement and its raw material does not fluctuate much because they are produced in Nepal, billets have to be imported from India and other countries.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Cambria">Although the price of iron rod has been declining for some time, now the price of billet is increasing and it may go up further, said a producer.<br />
According to him, as the value of dollar has risen and the price of raw materials has also grown, the price of rods is expected to rise further by next week. The rod manufacturers say they paid USD 525 per tonne to import billets until February 28.<br />
The official informed that the price of imported billets will increase more, and the price of rods will also increase in the Nepali market. Earlier, they had to pay USD 505 for a tonne of billet.<br />
The US dollar value grew from 116 to 117.97 on March 2, and the price of iron rod is expected to rise slightly. As it is the season of construction, cement and steel rod industries have increased their production capacity between 80 to 90 percent. Use of construction materials, which had been severely affected by COVID-19, is growing along with the demand.</span></span></p>
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			'sortorder' => '12866',
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			'article_date' => '2021-03-03 15:27:44',
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	(int) 14 => array(
		'Article' => array(
			'id' => '13119',
			'article_category_id' => '1',
			'title' => 'Import of Electric Vehicles Declines by 50 Percent',
			'sub_title' => '',
			'summary' => 'March 3: The import of electric vehicles into the country has declined by half in the first seven months of the current fiscal year 2021/21 due to heavy taxes levied on them. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">March 3: The import of electric vehicles into the country has declined by half in the first seven months of the current fiscal year 2021/21 due to heavy taxes levied on them. On the other hand, the import of vehicles that run on diesel/petrol has increased by 60 percent.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">In the review period, a total of 2051 electric vehicles have been imported. Of the imported electric vehicles, 103 are electric jeep, car, van and the remaining are three wheelers (auto-rikshaw). In the corresponding period of last fiscal year, 4204 electric vehicles were imported into Nepal. This number includes all kinds of electric vehicles. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">According to the National Automobile Dealers Association (NADA), more than 600 electric jeeps, cars and vans were imported in the first six months of the last fiscal year. Sunil Rijal, general secretary of NADA, said the import ratio has gone down due to a hike in electric vehicles taxes. The government hiked the customs duty levied on electric vehicles from 10 percent to 30 percent in the latest budget. However, later it was decided to provide waiver on excise duty and other taxes. Still, the electric vehicles are subjected to 40 percent tax which has plunged its market demand, said Rijal. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Although the import of electric vehicles has declined, the import of gasoline-powered automobiles has gone up. In the review period, the import of jeeps, motorbikes and trucks has increased. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Traders say that lengthy banking procedures on auto loan is another reason for decline in import of electric vehicles.&nbsp; Sundar Yatayat had launched four electric buses two years ago and was planning to operate another 25 electric buses. Bhesh Bahadur Thapa, president of Sundar Yatayat, said the difficulty in acquiring loan for electric vehicles has stalled the process. After a long hassle, banking institutions have agreed to finance electric vehicles on Tuesday, he said. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri">Krishna Prasad Dulal, president of NADA, said the hike in import of gasoline-powered vehicles is for a limited period only. The increase is attributed to easy financing service provided by banks and resumption of the market after a long gap of ten months. </span></span></p>

<p>&nbsp;</p>
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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00