Nepal to Challenge India’s Geographical Indication Claim on Basmati Rice

Dec 10, 2020 0 2 minutes 17 seconds to read

December 10: Nepal has challenged India’s claim over geographical indication tag for Basmati rice.…

Prices of Food Products Rising Despite Normal Supply

Dec 10, 2020 0 2 minutes 56 seconds to read

December 10: The prices of food products have been consistently rising since the last one and a half months.…

Government Extends Deadline for Renewal of Blue Book by 3 Months

Dec 10, 2020 0 1 minutes 42 seconds to read

December 10: The government has extended the renewal period of vehicles’ blue book by three months.…

Government to Issue Certificate of Origin to Discourage Unauthorized Export

Dec 10, 2020 0 2 minutes 19 seconds to read

December 10: The government has decided to issue Certificate of Origin to the products made in Nepal from the raw materials imported from third countries in order to curb unauthorized export of such products.…

18 Commercial Banks Record Increase in Non-Performing Loans

Dec 09, 2020 0 4 minutes 20 seconds to read

December 9: The non-performing loans of majority of commercial banks have increased as the lockdown to curb coronavirus affected most of the businesses in the…

Height of Mount Everest Increases by 86 Centimetres

Dec 09, 2020 0 2 minutes 22 seconds to read

December 9: The height of Mount Everest has increased by 86…

Insurance Companies told to Unveil Financial Report in Compliance to NFRS

Dec 09, 2020 0 50 seconds to read

December 9: Insurance companies will also have to make their financial reports public from now onward in accordance to the Nepal Financial Reporting Standard…

Russia’s Shows Interest to Invest in Nepal’s Hydropower Sector

Dec 09, 2020 0 2 minutes 12 seconds to read

December 9: Russia has expressed its interest in investing in the hydropower sector of Nepal.…

Use of QR Code for Payment Increasing

Dec 09, 2020 0 1 minutes 59 seconds to read

December 9: The use of QR codes for payment has increased significantly in the market in recent…

Traffic Police Launch Special Campaign Against Motyorcycle Theft

Dec 09, 2020 0 2 minutes 34 seconds to read

December 9: The Metropolitan Traffic Police Division (MTPD) has arrested 14 persons involved in stealing motorcycles from different parts of Kathmandu Valley in the current fiscal year.…

Jagadamba Motors to Bring Int’l Car Brand Proton to Nepal

Dec 08, 2020 0 1 minutes 8 seconds to read

December 8: Proton, a Malaysian automobile company, has announced to launch its product in Nepal in the near…

170 Hydropower Projects Unable to Sign PPA due to Flaw in Government Policy

Dec 08, 2020 0 4 minutes 34 seconds to read

December 8: Hydropower projects with capacity to generate around 7,000 megawatts of electricity have been denied permission to sign power purchase agreement (PPA) after the government blocked them from signing PPA stating that the quota of run-of-the river (ROR) hydroelectricity projects has reached its…

Nepal Railway Company Preparing for a Land Management Master Plan

Dec 08, 2020 0 1 minutes 37 seconds to read

December 8: Nepal Railway Company Limited, which is back in operation after six years, has started focusing on commercial use of land in railway stations including…

Traders Facing Hard Time to Pay Exorbitant Rent of Shopping Malls

Dec 08, 2020 0 2 minutes 11 seconds to read

December 8: Unable to pay the rent of shopping malls, traders have started looking for renting areas available at cheaper…

EU Acknowledges Efforts Made by Nepal in Relation to Aviation Safety

Dec 08, 2020 0 3 minutes 45 seconds to read

December 8: The European Union (EU) has applauded the Government of Nepal for its firm commitment to improve aviation safety mechanisms although the EU is yet to remove Nepal from aviation safety…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'article_category_id' => '1',
			'title' => 'Nepal to Challenge India’s Geographical Indication Claim on Basmati Rice',
			'sub_title' => '',
			'summary' => 'December 10: Nepal has challenged India’s claim over geographical indication tag for Basmati rice. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 10: Nepal has challenged India&rsquo;s claim over geographical indication tag for Basmati rice. The government of Nepal is making preparations for counter claim after India lodged an application with the European Union exclusive rights over Basmati rice based on geographical indication. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Issuing a press statement, the Ministry of Agriculture and Livestock Development has said its serious attention has been drawn to the claim made by India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has maintained that Nepal too should enjoy exclusive rights based on geographical indication over Basmati rice as the country has been producing the rice species and selling it abroad since time immemorial.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry informed that the National Agriculture Genetic Resource Centre, Khumaltar will be making counter claim for the exclusive right at the EU within the given deadline.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson of the ministry Dr Hari Bahadur KC informed that the centre will soon make a formal claim on behalf of the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">India has also filed a patent claim against an American research company after the establishment of the&nbsp; World Trade Organisation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">India had filed the complaint after an American company obtained patent for a cross-breed of Basmati rice. After India won the claim, it has been exporting Basmati rice to the USA. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Pakistan has also claimed its stake on Basmati rice. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Vice President of the Intellectual Property Protection Society Madhusudhan Poudyal says Nepal made a mistake when India filed the patent claim but now it has take the right decision. He says it is necessary to stop India from claiming exclusive right over Basmati rice.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Prices of Food Products Rising Despite Normal Supply',
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			'summary' => 'December 10: The prices of food products have been consistently rising since the last one and a half months. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 10: The prices of food products have been consistently rising since the last one and a half months. Considering the prices of food before Dashain festival as reference point, there has been a price hike of up to 33 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prices of edible oil, sugar and pulses shot up by 25 percent soon after Dashain. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data provided by the Retail Business Association, the prices of lentil, pulses and edible oil have been consistently rising in recent weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;The price of string beans which was Rs 120 per kilogram increased by 33 percent to Rs 160 per kilogram. Similarly, red lentil which used to cost Rs 140 per kg before Dashain now costs Rs 160, which is 14 percent increase in price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Indian red lentil also increased from Rs 115 kg to Rs 125 per kg during the review period. The price of black lentil increased from Rs 150 per kg to Rs 170 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, price of soybean oil has increased by 20 percent from R s 150 per litre to Rs 180 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, price of mustard oil (Dhara brand) has increased from Rs 220 to Rs 240. Sunflower oil saw an increase in price from Rs 175 per litre to Rs 195.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of the Retail Business Association Raj Kumar Shrestha told New Business Age that the businessmen themselves are unaware about the reason behind price hike. He said that the industries and wholesalers have allegedly increased the price citing an increase in price in the international market but they have not mentioned it in the bill. Shrestha further said that the retailers are unable to maintain a uniform price because they haven&rsquo;t received accurate bill from the producers and wholesalers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;There isn&rsquo;t any shortage of food in the market and there isn&rsquo;t any excessive demand. Therefore, price hike during this time is unusual,&rdquo; said Shrestha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, wholesalers accuse the retailers of refusing to take the bill due to fear of value added tax (VAT).</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Government Extends Deadline for Renewal of Blue Book by 3 Months',
			'sub_title' => '',
			'summary' => 'December 10: The government has extended the renewal period of vehicles’ blue book by three months. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 10: The government has extended the renewal period of vehicles&rsquo; blue book by three months. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">A recent cabinet meeting took a decision to this effect. In addition to blue book renewal, the government has also extended the deadline for renewal of driving license as well as vehicles&rsquo; fitness test and route permit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Unveiling the decisions taken by the Council of Ministers on Wednesday, government&rsquo;s spokesperson Parbat Gurung confirmed that the deadline for renewal of blue book has been extended by three months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The government had set the deadline of mid-September for payment of fines as well as renewal of blue books and route permits due to the coronavirus pandemic. As the restrictions were not fully lifted even after mid-September, the government decided to further extend the deadline. The decision to extend the deadline was also taken considering the festive season and various other reasons that hampered the smooth functioning of government offices. The government has announced that it will not be charging any fine or late fee during this period. The grace period will remain effective till mid-December.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The Ministry of Physical Infrastructure and Transport has already directed the Department of Transport Management to implement the decision taken by the Council of Ministers.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Government to Issue Certificate of Origin to Discourage Unauthorized Export',
			'sub_title' => '',
			'summary' => 'December 10: The government has decided to issue Certificate of Origin to the products made in Nepal from the raw materials imported from third countries in order to curb unauthorized export of such products. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 10: The government has decided to issue Certificate of Origin to the products made in Nepal from the raw materials imported from third countries in order to curb unauthorized export of such products. The move comes after India&rsquo;s accusation that Nepal has been importing unrefined palm oil and then exporting the products without refining them to India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">From now on, importers can bring food products from overseas only upon the recommendation from the authorised government body formed to regulate food market of the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have been facing accusation that they have been importing food products like pepper, beetle nuts and dates from third countries without authorization and then exporting them to India. Therefore India has banned the import of these products from Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Certificate of Origin stands as a proof that the products are manufactured in Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Prior to this, the government had increased customs duty and allowed export of limited products in order to discourage unauthorized export. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India has been accusing Nepal of exporting products imported from countries like Malaysia, Singapore and Indonesia as its own product. India made such accusation during the recent secretary-level meeting between the two countries to discuss trade-related issues.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry, Commerce and Supplies believes that the issuance of Certificate of Origin will promote lawful business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Unauthorised business will come to a halt one the Certificate of Origin is issued,&rdquo; said joint secretary Urmila KC, adding, &ldquo;This will be beneficial for the country&rsquo;s industries.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => '18 Commercial Banks Record Increase in Non-Performing Loans',
			'sub_title' => '',
			'summary' => 'December 9: The non-performing loans of majority of commercial banks have increased as the lockdown to curb coronavirus affected most of the businesses in the country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The non-performing loans of majority of commercial banks have increased as the lockdown to curb coronavirus affected most of the businesses in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The non-performing loans of 18 out of 27 commercial banks increased in the first quarter of the current fiscal year compared to the corresponding period of last FY.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the remaining nine commercial banks have kept the non-performing loans in check.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bankers say that the non-performing loans could further increase as the individuals and businesses affected by coronavirus have not been able to pay the interest and installment and are unlikely to pay in bulk amount. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bankers say that although they have given the defaulters affected by coronavirus some more time to pay the loan and interest, it will only pile up pressure later on. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Sooner or later the borrowers will have to pay the interest and loan. If they do not pay now and pile up the amount, its impact will be seen in the non-performing loan,&rdquo; said a banker requesting not to be named.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned Rastriya Banijya Bank has the highest amount of non-performing loan in the current fiscal year. The non-performing loan of RBB, which was 3.50 percent in the first quarter of last fiscal year, has increased to 4.10 percent this year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of Rastriya Banijya Bank Kiran Kumar Shrestha says they were expecting the NPL to rise because the businesses have not been able to operate smoothly and the borrowers are unable to pay the interest and installment. Shrestha says they are anticipating non-performing loan to increase further.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The sectors most affected by Covid-19 haven&rsquo;t paid their loans or interest. We have be lenient toward those who are affected by the pandemic and we cannot force them to pay the loan. This only risks further increasing NPL,&rdquo; said Shrestha. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Another state-owned bank- Nepal Bank Limited- stands second in the list of banks with high non-performing loans. Nepal Bank has recorded 3.2 percent NPL in the first quarter of the current fiscal year. During the corresponding period of last FY, the banks NPL was 2.75 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the NPL of NMB Bank is 2.26 percent followed by Bank of Kathmandu (2.18 percent), Global IME Bank (1.83 percent), Sunrise Bank (1.58 percent), Kumari Bank (1.43 percent) and Century Bank (1.43 percent). The NPL of Nepal Bangladesh Bank is 1.97 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other banks which have recorded an increase in non-performing loans by 0.23 percentage points.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, other nine commercial banks have succeeded in reducing their NPL. Despite covid-19 crisis, NIC Asia Bank has maintained its non-performing loan at 0.40 percent in the third week of October. Likewise, other banks that have succeeded in lowering their NPL include Laxmi Bank (0.97 percent), Mega Bank (1.0 percent), Agriculture Development Bank (2.37 percent), Prabhu Bank (2.67 percent) and NCC Bank (2.83 percent).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of Himalayan Bank Sushil Joshi says that the relief given to the borrowers at present is certain to increase NPL because they will have to pay at once later on. It will have an impact on the bank&rsquo;s distributable profit, says Joshi.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12777',
			'article_category_id' => '1',
			'title' => 'Height of Mount Everest Increases by 86 Centimetres',
			'sub_title' => '',
			'summary' => 'December 9: The height of Mount Everest has increased by 86 centimetres.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The height of Mount Everest has increased by 86 centimetres.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Foreign Affairs Pradeep Gyawali made the revelation during a function organised at the Department of Survey on Tuesday (December 9).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">With the formal announcement made jointly by the Government of Nepal as well as China, the official height of Mt Everest has now been revised to 8848.86 meters.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Until now, the height of Everest was considered 8848 meters. That measurement was taken in 1857 by India&rsquo;s GL Gulati Company. Nepal conducted a survey on its own following speculations that the 2015 earthquakes might have altered the height of the world&rsquo;s highest peak.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal and China had agreed to jointly measure the height of Mt Everest during Chinese President Xi Jinping&rsquo;s state visit to Nepal last year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Survey conducted a study to measure the height of Mt Everest be spending Rs 130 million. It took almost two years to complete the study.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Survey officer Sushil Dangol informed that they used various techniques to measure the height of Mt Everest because the use of a single technique would raise doubts regarding the findings of the study. He said that the department used direct measurement, triangulation method and global positioning&nbsp; system (GPS) to reach to the conclusion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Dangol, the surveyors measure height of the mountain directly from both faces in direct measurement. Likewise, in the triangulation method, they use a certain point as reference to measure the height while the GPS method employs earth&rsquo;s gravitational force and sophisticated equipment for the measurement.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12528',
			'image' => '20201209120005_1607418193.mount_everest.jpg',
			'article_date' => '2020-12-09 11:59:31',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12781',
			'article_category_id' => '1',
			'title' => 'Insurance Companies told to Unveil Financial Report in Compliance to NFRS  ',
			'sub_title' => '',
			'summary' => 'December 9: Insurance companies will also have to make their financial reports public from now onward in accordance to the Nepal Financial Reporting Standard (NFRS).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: Insurance companies will also have to make their financial reports public from now onward in accordance to the Nepal Financial Reporting Standard (NFRS).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Issuing separate circulars to reinsurance and non-life insurance companies on Monday (December 7), the Insurance Board instructed them to follow NFRS while unveiling their financial report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Now, those insurance companies will have to make public their quarterly and annual financial reports based on NFRS. The board has said this provision will have to be implemented from the start of the current fiscal year.</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-12-09',
			'modified' => '2020-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12527',
			'image' => '20201209023803_20200825040928_bima_samiti.jpg',
			'article_date' => '2020-12-09 14:37:32',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12780',
			'article_category_id' => '1',
			'title' => 'Russia’s Shows Interest to Invest in Nepal’s Hydropower Sector',
			'sub_title' => '',
			'summary' => 'December 9: Russia has expressed its interest in investing in the hydropower sector of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 9: Russia has expressed its interest in investing in the hydropower sector of Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">A delegation led by Russian Ambassador to Nepal Aleksei Novikov met with Minister for Energy, Water Resources and Irrigation Barshaman Pun on Tuesday and informed that two Russian banks have shown such interest. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">During the meeting, ambassador Novikov said that Russia&rsquo;s two largest banks Lanta and Moscow Industrial Bank proposed to invest in Nepal&rsquo;s hydropower. The delegation said that they want to sign a G2G investment agreement with Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The delegation discussed about the legal provisions related to hydropower generation and distribution in Nepal and the potential of the regional market with Minister Pun. The ministry said that the team was also interested in the possibility of a joint project of electricity and irrigation. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Novikov said that they will invest in a &lsquo;pilot project&rsquo; and encourage both the private sector and the government to invest in Nepal by alaysing the market situation. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Minister Pun had projected that 10,000 MW of electricity would be consumed in Nepal&#39;s internal market in the next 10 years. He informed that the surplus electricity will be exported to India and Bangladesh and power purchase &nbsp;agreement has been already signed with India and Bangladesh regarding this. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We are ready for the modality which you find most convenient, we welcome it,&rdquo; Minister Pun said to the delegation, adding, &ldquo;We are okay if you find a market on your own otherwise we can also help arrange a market.&rdquo; </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-12-09',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12526',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12778',
			'article_category_id' => '1',
			'title' => 'Use of QR Code for Payment Increasing',
			'sub_title' => 'NRB preparing to make it more organized',
			'summary' => 'December 9: The use of QR codes for payment has increased significantly in the market in recent days.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">December 9: The use of QR codes for payment has increased significantly in the market in recent days. As marketplaces are now using new devices to replace cash as means of payment, the frequency of payment through QR code has increased.</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:Calibri">Nepal Rastra Bank (NRB) reported that an additional 85,975 transactions worth Rs 321 million took place through QR code during the last month compared to the previous month. In mid-September to mid-October, customers made 265,000 transactions worth Rs 969 million using the code system. In mid-August to mid-September, altogether 179,000 transactions worth Rs 64.8 billion were reported in the country.</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:Calibri">Nepal Rastra Bank (NRB) is preparing to make the payment more systematic and uniform, as the payment from QR code has been increasing lately. The NRB is a statement informed that it is preparing to maintain QR code more systematically with the increase in transactions.</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:Calibri">The central bank is going to make more arrangements based on international standards. According to the central bank, international practice of QR code shows details including identifications of the customer and merchant, bank details, date and time of transaction mobile number the PSO operator and the three-page customer identification (KYC) of the person involved in the transaction.</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:Calibri">&ldquo;Such a scan should have the detailed information which should be on the server or all the details should be seen once scanned and found when we search. That is why we are trying to manage it,&rdquo; said an NRB source requesting anonymity.</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:Calibri">The QR code payment at present does not contain all this information.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '12525',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12782',
			'article_category_id' => '1',
			'title' => 'Traffic Police Launch Special Campaign Against Motyorcycle Theft ',
			'sub_title' => '',
			'summary' => 'December 9: The Metropolitan Traffic Police Division (MTPD) has arrested 14 persons involved in stealing motorcycles from different parts of Kathmandu Valley in the current fiscal year. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The Metropolitan Traffic Police Division (MTPD) has arrested 14 persons involved in stealing motorcycles from different parts of Kathmandu Valley in the current fiscal year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According the division, it has started a special campaign to search for stolen motorcycles and to bust the gang of people involved in this activity. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The MTPD said in a statement on Tuesday (December 8) that it has already initiated action against those involved in stealing the motorcycles since a long time. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The traffic police division said it has recovered 85 stolen motorcycles from different areas of the valley and returned them to their rightful owners.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the division SSP Janak Bhattarai said that the police have started a special operation by deploying plain-clothes policemen to keep a watch on professional thieves who have been involved in this activity since a long time. He added that most of the motorcycles stolen in the capital have been found in villages outside the valley. Police have even mobilized informants in the villages to track stolen motorcycles, said SSP Bhattarai.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The traffic police division yesterday arrested 25-year-old Sujan Tamang of Kavre from Lalitpur&rsquo;s Dholahiti in possession with a stolen Pulsar 220 cc motorbike. According to the police, the bike was stolen from Setopul ten days ago.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Statistics show that theft of motorcycles parked in public places as well as isolated areas is rampant in Kathmandu. Police say that the use of additional lock and security system can prevent bikes from being stolen.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police investigation has revealed that the thieves often change the number plate or modify the parts of the stolen bikes so that the owners cannot recognize them.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12524',
			'image' => '20201209023911_MotorcycleTheft3.jpg',
			'article_date' => '2020-12-09 14:38:36',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12775',
			'article_category_id' => '236',
			'title' => 'Jagadamba Motors to Bring Int’l Car Brand Proton to Nepal',
			'sub_title' => '',
			'summary' => 'December 8: Proton, a Malaysian automobile company, has announced to launch its product in Nepal in the near future.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">December 8: Proton, a Malaysian automobile company, has announced to launch its product in Nepal in the near future. The company&rsquo;s most popular and highest selling model Proton Saga will roll on the streets of Nepal very soon, informed Jagdamba Motors, a sister concern of Shanker Group, and the exclusive distributor for Proton Motors in Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">A statement issued by Jagadamba Mortors says that Proton introduced its first car -- Proton Saga -- back in 1985. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The year 2018 was a landmark year for Proton for it launched its first SUV Proton X70,&rdquo; added the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The statement further said that Proton has become even more enhanced technologically after its collaboration with Geely and Volvo. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Proton invests millions of dollars in Research and Development which has enabled it to stay in competition with giant automobile companies. Proton has continuously been applying new breakthrough technologies in design and engineering in order to introduce new features to its cars.&rdquo;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2020-12-08',
			'modified' => '2021-12-23',
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			'description' => '',
			'sortorder' => '12523',
			'image' => '20201208033507_2017_Proton_Saga_(BT)_1.3_Standard_4-door_sedan_(01)_(34209794061).jpg',
			'article_date' => '2020-12-08 15:34:23',
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	(int) 11 => array(
		'Article' => array(
			'id' => '12774',
			'article_category_id' => '1',
			'title' => '170 Hydropower Projects Unable to Sign PPA due to Flaw in Government Policy',
			'sub_title' => '',
			'summary' => 'December 8: Hydropower projects with capacity to generate around 7,000 megawatts of electricity have been denied permission to sign power purchase agreement (PPA) after the government blocked them from signing PPA stating that the quota of run-of-the river (ROR) hydroelectricity projects has reached its limit.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 8: Hydropower projects with capacity to generate around 7,000 megawatts of electricity have been denied permission to sign power purchase agreement (PPA) after the government blocked them from signing PPA stating that the quota of run-of-the river (ROR) hydroelectricity projects has reached its limit.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has denied permission for ROR hydropower projects to sign PPA under the &lsquo;take and pay&rsquo; scheme since the last one and a half years. As a result, a total of 170 private hydroelectricity projects with capacity to produce between 6000 to 7000 megawatts of electricity have not been able to sign PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government has stopped such projects from signing PPA under the pretext that the quota has reached its limit, it is still granting permission to new projects for conducting surveys.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data kept by the Department of Electricity Development, a total of 26 projects were granted permission for survey to develop 1691 MW of electricity during the last fiscal year while 5 such projects have been granted permission to survey the possibility of generating 88 MW of electricity in the current fiscal year. But the government has not allowed any of the completed projects to sign PPA since the last one and a half years.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned Nepal Electricity Authority (NEA) has refused to sign PPAs under the &lsquo;take and pay&rsquo; scheme with the private companies following instructions from the government. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has been giving permission for survey to the promoter companies without any hesitation. However, it has not signed any single deal with such projects to purchase electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This has left the promoters of the under-construction project worried. One of the promoters said that the government has been giving them license for survey only with the intention of collecting revenue. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of API Power Company Guru Prasad Neupane informed that around 170 projects have not been able to sign the PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;All of those projects have completed the required process. But they have not been able to strike the PPA,&rdquo; said Neupane, adding that two of the projects developed by API Power Company has also not been able to sign PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is not fair to give license to the projects but deny them the opportunity to sign PPA,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must take appropriate decision.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has set a target to develop 15,000 megawatts of electricity in 10&nbsp; years. That includes 30 percent from ROR projects, as per the government&rsquo;s concept. As per the government&rsquo;s target, ROR projects can supply only up to 4500 megawatts of electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">But the NEA has already initiated the process to purchase 6000 MW of electricity from ROR projects. However, the NEA has stopped signing PPA under take and pay scheme after the production of the ROR projects crossed the limit, says Ramji Bhandari, an official of NEA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, chairman of the Independent Power Producers Association of Nepal (IPPAN) Krishna Acharya says that the NEA is still not clear about the PPA issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Energy minister and officials of NEA assure us that they will sign PPA with us. But the NEA does not implement it,&rdquo; said Acharya.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-12-08',
			'modified' => '2020-12-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12522',
			'image' => '20201208032412_My Effect.jpg',
			'article_date' => '2020-12-08 15:23:35',
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	(int) 12 => array(
		'Article' => array(
			'id' => '12776',
			'article_category_id' => '1',
			'title' => 'Nepal Railway Company Preparing for a Land Management Master Plan ',
			'sub_title' => '',
			'summary' => 'December 8: Nepal Railway Company Limited, which is back in operation after six years, has started focusing on commercial use of land in railway stations including Janakpur.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">December 8: Nepal Railway Company Limited, which is back in operation after six years, has started focusing on commercial use of land in railway stations including Janakpur.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company which was revived to operate the Janakpur-Jaynagar&nbsp;Railway is planning to take commercial advantage of the land it owns.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company informed that it will search and record the company&#39;s assets and determine how to use such assets for commercial purpose.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company informed that the former property of Amalekhgunj-Raxaul Railway will be used for suitable commercial use in the action plan of the current fiscal year 2077/78.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">According to the first quarterly progress report of the current fiscal year, the company has mentioned that the historical steam locomotives and the physical infrastructure of the railways will be preserved.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">Guru Bhattarai, general manager of the company, informed that preparations have been made to bring the lands used by various ministries and other public bodies in the name of the company. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">&ldquo;The company is preparing to make a master plan to consolidate all the assets in the name of the company as it has not been able to take full advantage of the assets worth billions of rupees,&rdquo; he added.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12773',
			'article_category_id' => '1',
			'title' => 'Traders Facing Hard Time to Pay Exorbitant Rent of Shopping Malls',
			'sub_title' => '',
			'summary' => 'December 8: Unable to pay the rent of shopping malls, traders have started looking for renting areas available at cheaper rates.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">December 8: Unable to pay the rent of shopping malls, traders have started looking for renting areas available at cheaper rates. Citing the coronavirus pandemic and the impact of the lockdown, the traders of big shopping malls have started looking for cheaper areas for conducting their businesses. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Due to the effect of the pandemic, the businesses of big shopping malls and supermarkets in the main business centers of Kathmandu have decreased by about 75 percent. The traders are hard hit by the expensive rent of the shopping malls and supermarkets. Therefore, they believe that leaving the shopping malls as soon as possible and finding a cheaper place to do their business would bring them some relief. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to the treasurer of the Federation of Nepalese Chamber of Commerce and Industry Sushma Mahara, some traders have abandoned their businesses while many have left malls and started looking for cheaper spaces available for rent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Even though the entire business was halted due to the six-month long lockdown, the traders were compelled to pay the rent. But there is still no business. We don&rsquo;t know for how long we have to do business in loss. So, the traders have no option than to leave the mall and look for cheap places to run their business,&rdquo; she said. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to Mahara, it is also the responsibility of the mall operators to support the traders and bear the burden of loss equally.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Due to various other facilities including car parking, the minimum rent inside the malls is Rs 50,000 to Rs 200,000. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Traders say it is unfortunate for them to flee the business due to their inability to pay high rent and to leave the place where they have been doing business for years. </span></span></span></p>
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			'id' => '12772',
			'article_category_id' => '1',
			'title' => 'EU Acknowledges Efforts Made by Nepal in Relation to Aviation Safety',
			'sub_title' => '',
			'summary' => 'December 8: The European Union (EU) has applauded the Government of Nepal for its firm commitment to improve aviation safety mechanisms although the EU is yet to remove Nepal from aviation safety blacklist.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 8: The European Union (EU) has </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">applauded the Government of Nepal for its firm commitment to improve aviation safety mechanisms although the EU is yet to remove Nepal from aviation safety blacklist.</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:Arial">In a statement issued on the International Civil Aviation Day on December 7, the EU noted that </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">the European Commission is aware of the efforts that have been undertaken by Nepal, notably in regard to the new aviation legislation currently proposed to the Parliament. </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:Arial">&ldquo;It would be key for this legislation to be adopted by the Parliament and subsequently implemented. This would allow the Commission to advance with the process of eventually removing Nepal from the EU Air Safety List,&rdquo; said the statement.</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:Arial">According to the EU, the standard process for removal from the list specifically includes organising a technical meeting (in Brussels) with CAAN to review the progress made, organising a subsequent on-site visit to Nepal by DG MOVE, EASA, and air safety experts from member states, which is needed in order to make a determination about the effective implementation of the safety enhancements, and ienacting the eventual removal from the EU Air Safety List by way of a Commission proposal to be endorsed by the EU Air Safety Committee. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The EU had banned Nepal from flying to its member states in December 2013 and is yet the remove the country from the blacklist. The EU kept Nepal in the list due to increasing incidents of plane crashes in the country. Nepali airliners have not been able to conduct flights to European countries ever since the ban was imposed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A considerable number of people from European countries had lost their lives in five air crashes in Nepal between 2010 to 2012, after which the EU imposed the ban. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Altogether 18 airline companies of Nepal, including helicopter operators, have been blacklisted by EU.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Analysts believe that EU has shown interest to lift the ban on Nepal for its efforts made to airlift people stranded by coronavirus and also because the country has grounded Chinese aircraft. Although EU has not mentioned anything public regarding Nepal using Chinese aircraft, experts say it is one of the reasons for the delay in removing the country from the black list.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai expressed his belief that Nepal will soon be removed from the blacklist of EU as the country has made tremendous reforms to meet the air safety standards of EU.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He said that the government has presented a draft bill to the House of Representatives and all concerns raised by the EU will be addressed once the bill is endorsed by parliament.</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:Arial">Meanwhile, the statement added that the European Commission with the assistance of the European Union Aviation Safety Agency (EASA), will deliver concrete and demand driven technical assistance to the Civil Aviation Authority of Nepal in order to support Nepal&rsquo;s efforts to enhance the aviation safety oversight in Nepal.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12785',
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			'title' => 'Nepal to Challenge India’s Geographical Indication Claim on Basmati Rice',
			'sub_title' => '',
			'summary' => 'December 10: Nepal has challenged India’s claim over geographical indication tag for Basmati rice. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 10: Nepal has challenged India&rsquo;s claim over geographical indication tag for Basmati rice. The government of Nepal is making preparations for counter claim after India lodged an application with the European Union exclusive rights over Basmati rice based on geographical indication. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Issuing a press statement, the Ministry of Agriculture and Livestock Development has said its serious attention has been drawn to the claim made by India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has maintained that Nepal too should enjoy exclusive rights based on geographical indication over Basmati rice as the country has been producing the rice species and selling it abroad since time immemorial.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry informed that the National Agriculture Genetic Resource Centre, Khumaltar will be making counter claim for the exclusive right at the EU within the given deadline.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson of the ministry Dr Hari Bahadur KC informed that the centre will soon make a formal claim on behalf of the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">India has also filed a patent claim against an American research company after the establishment of the&nbsp; World Trade Organisation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">India had filed the complaint after an American company obtained patent for a cross-breed of Basmati rice. After India won the claim, it has been exporting Basmati rice to the USA. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Pakistan has also claimed its stake on Basmati rice. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Vice President of the Intellectual Property Protection Society Madhusudhan Poudyal says Nepal made a mistake when India filed the patent claim but now it has take the right decision. He says it is necessary to stop India from claiming exclusive right over Basmati rice.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12784',
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			'title' => 'Prices of Food Products Rising Despite Normal Supply',
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			'summary' => 'December 10: The prices of food products have been consistently rising since the last one and a half months. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 10: The prices of food products have been consistently rising since the last one and a half months. Considering the prices of food before Dashain festival as reference point, there has been a price hike of up to 33 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prices of edible oil, sugar and pulses shot up by 25 percent soon after Dashain. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data provided by the Retail Business Association, the prices of lentil, pulses and edible oil have been consistently rising in recent weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;The price of string beans which was Rs 120 per kilogram increased by 33 percent to Rs 160 per kilogram. Similarly, red lentil which used to cost Rs 140 per kg before Dashain now costs Rs 160, which is 14 percent increase in price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Indian red lentil also increased from Rs 115 kg to Rs 125 per kg during the review period. The price of black lentil increased from Rs 150 per kg to Rs 170 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, price of soybean oil has increased by 20 percent from R s 150 per litre to Rs 180 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, price of mustard oil (Dhara brand) has increased from Rs 220 to Rs 240. Sunflower oil saw an increase in price from Rs 175 per litre to Rs 195.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of the Retail Business Association Raj Kumar Shrestha told New Business Age that the businessmen themselves are unaware about the reason behind price hike. He said that the industries and wholesalers have allegedly increased the price citing an increase in price in the international market but they have not mentioned it in the bill. Shrestha further said that the retailers are unable to maintain a uniform price because they haven&rsquo;t received accurate bill from the producers and wholesalers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;There isn&rsquo;t any shortage of food in the market and there isn&rsquo;t any excessive demand. Therefore, price hike during this time is unusual,&rdquo; said Shrestha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, wholesalers accuse the retailers of refusing to take the bill due to fear of value added tax (VAT).</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Government Extends Deadline for Renewal of Blue Book by 3 Months',
			'sub_title' => '',
			'summary' => 'December 10: The government has extended the renewal period of vehicles’ blue book by three months. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 10: The government has extended the renewal period of vehicles&rsquo; blue book by three months. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">A recent cabinet meeting took a decision to this effect. In addition to blue book renewal, the government has also extended the deadline for renewal of driving license as well as vehicles&rsquo; fitness test and route permit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Unveiling the decisions taken by the Council of Ministers on Wednesday, government&rsquo;s spokesperson Parbat Gurung confirmed that the deadline for renewal of blue book has been extended by three months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The government had set the deadline of mid-September for payment of fines as well as renewal of blue books and route permits due to the coronavirus pandemic. As the restrictions were not fully lifted even after mid-September, the government decided to further extend the deadline. The decision to extend the deadline was also taken considering the festive season and various other reasons that hampered the smooth functioning of government offices. The government has announced that it will not be charging any fine or late fee during this period. The grace period will remain effective till mid-December.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The Ministry of Physical Infrastructure and Transport has already directed the Department of Transport Management to implement the decision taken by the Council of Ministers.</span></span></span></span></p>

<p>&nbsp;</p>
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			'sub_title' => '',
			'summary' => 'December 10: The government has decided to issue Certificate of Origin to the products made in Nepal from the raw materials imported from third countries in order to curb unauthorized export of such products. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 10: The government has decided to issue Certificate of Origin to the products made in Nepal from the raw materials imported from third countries in order to curb unauthorized export of such products. The move comes after India&rsquo;s accusation that Nepal has been importing unrefined palm oil and then exporting the products without refining them to India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">From now on, importers can bring food products from overseas only upon the recommendation from the authorised government body formed to regulate food market of the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have been facing accusation that they have been importing food products like pepper, beetle nuts and dates from third countries without authorization and then exporting them to India. Therefore India has banned the import of these products from Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Certificate of Origin stands as a proof that the products are manufactured in Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Prior to this, the government had increased customs duty and allowed export of limited products in order to discourage unauthorized export. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India has been accusing Nepal of exporting products imported from countries like Malaysia, Singapore and Indonesia as its own product. India made such accusation during the recent secretary-level meeting between the two countries to discuss trade-related issues.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry, Commerce and Supplies believes that the issuance of Certificate of Origin will promote lawful business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Unauthorised business will come to a halt one the Certificate of Origin is issued,&rdquo; said joint secretary Urmila KC, adding, &ldquo;This will be beneficial for the country&rsquo;s industries.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12779',
			'article_category_id' => '1',
			'title' => '18 Commercial Banks Record Increase in Non-Performing Loans',
			'sub_title' => '',
			'summary' => 'December 9: The non-performing loans of majority of commercial banks have increased as the lockdown to curb coronavirus affected most of the businesses in the country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The non-performing loans of majority of commercial banks have increased as the lockdown to curb coronavirus affected most of the businesses in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The non-performing loans of 18 out of 27 commercial banks increased in the first quarter of the current fiscal year compared to the corresponding period of last FY.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the remaining nine commercial banks have kept the non-performing loans in check.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bankers say that the non-performing loans could further increase as the individuals and businesses affected by coronavirus have not been able to pay the interest and installment and are unlikely to pay in bulk amount. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bankers say that although they have given the defaulters affected by coronavirus some more time to pay the loan and interest, it will only pile up pressure later on. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Sooner or later the borrowers will have to pay the interest and loan. If they do not pay now and pile up the amount, its impact will be seen in the non-performing loan,&rdquo; said a banker requesting not to be named.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned Rastriya Banijya Bank has the highest amount of non-performing loan in the current fiscal year. The non-performing loan of RBB, which was 3.50 percent in the first quarter of last fiscal year, has increased to 4.10 percent this year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of Rastriya Banijya Bank Kiran Kumar Shrestha says they were expecting the NPL to rise because the businesses have not been able to operate smoothly and the borrowers are unable to pay the interest and installment. Shrestha says they are anticipating non-performing loan to increase further.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The sectors most affected by Covid-19 haven&rsquo;t paid their loans or interest. We have be lenient toward those who are affected by the pandemic and we cannot force them to pay the loan. This only risks further increasing NPL,&rdquo; said Shrestha. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Another state-owned bank- Nepal Bank Limited- stands second in the list of banks with high non-performing loans. Nepal Bank has recorded 3.2 percent NPL in the first quarter of the current fiscal year. During the corresponding period of last FY, the banks NPL was 2.75 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the NPL of NMB Bank is 2.26 percent followed by Bank of Kathmandu (2.18 percent), Global IME Bank (1.83 percent), Sunrise Bank (1.58 percent), Kumari Bank (1.43 percent) and Century Bank (1.43 percent). The NPL of Nepal Bangladesh Bank is 1.97 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other banks which have recorded an increase in non-performing loans by 0.23 percentage points.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, other nine commercial banks have succeeded in reducing their NPL. Despite covid-19 crisis, NIC Asia Bank has maintained its non-performing loan at 0.40 percent in the third week of October. Likewise, other banks that have succeeded in lowering their NPL include Laxmi Bank (0.97 percent), Mega Bank (1.0 percent), Agriculture Development Bank (2.37 percent), Prabhu Bank (2.67 percent) and NCC Bank (2.83 percent).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of Himalayan Bank Sushil Joshi says that the relief given to the borrowers at present is certain to increase NPL because they will have to pay at once later on. It will have an impact on the bank&rsquo;s distributable profit, says Joshi.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12777',
			'article_category_id' => '1',
			'title' => 'Height of Mount Everest Increases by 86 Centimetres',
			'sub_title' => '',
			'summary' => 'December 9: The height of Mount Everest has increased by 86 centimetres.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The height of Mount Everest has increased by 86 centimetres.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Foreign Affairs Pradeep Gyawali made the revelation during a function organised at the Department of Survey on Tuesday (December 9).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">With the formal announcement made jointly by the Government of Nepal as well as China, the official height of Mt Everest has now been revised to 8848.86 meters.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Until now, the height of Everest was considered 8848 meters. That measurement was taken in 1857 by India&rsquo;s GL Gulati Company. Nepal conducted a survey on its own following speculations that the 2015 earthquakes might have altered the height of the world&rsquo;s highest peak.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal and China had agreed to jointly measure the height of Mt Everest during Chinese President Xi Jinping&rsquo;s state visit to Nepal last year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Survey conducted a study to measure the height of Mt Everest be spending Rs 130 million. It took almost two years to complete the study.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Survey officer Sushil Dangol informed that they used various techniques to measure the height of Mt Everest because the use of a single technique would raise doubts regarding the findings of the study. He said that the department used direct measurement, triangulation method and global positioning&nbsp; system (GPS) to reach to the conclusion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Dangol, the surveyors measure height of the mountain directly from both faces in direct measurement. Likewise, in the triangulation method, they use a certain point as reference to measure the height while the GPS method employs earth&rsquo;s gravitational force and sophisticated equipment for the measurement.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12781',
			'article_category_id' => '1',
			'title' => 'Insurance Companies told to Unveil Financial Report in Compliance to NFRS  ',
			'sub_title' => '',
			'summary' => 'December 9: Insurance companies will also have to make their financial reports public from now onward in accordance to the Nepal Financial Reporting Standard (NFRS).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: Insurance companies will also have to make their financial reports public from now onward in accordance to the Nepal Financial Reporting Standard (NFRS).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Issuing separate circulars to reinsurance and non-life insurance companies on Monday (December 7), the Insurance Board instructed them to follow NFRS while unveiling their financial report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Now, those insurance companies will have to make public their quarterly and annual financial reports based on NFRS. The board has said this provision will have to be implemented from the start of the current fiscal year.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'modified' => '2020-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12527',
			'image' => '20201209023803_20200825040928_bima_samiti.jpg',
			'article_date' => '2020-12-09 14:37:32',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12780',
			'article_category_id' => '1',
			'title' => 'Russia’s Shows Interest to Invest in Nepal’s Hydropower Sector',
			'sub_title' => '',
			'summary' => 'December 9: Russia has expressed its interest in investing in the hydropower sector of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 9: Russia has expressed its interest in investing in the hydropower sector of Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">A delegation led by Russian Ambassador to Nepal Aleksei Novikov met with Minister for Energy, Water Resources and Irrigation Barshaman Pun on Tuesday and informed that two Russian banks have shown such interest. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">During the meeting, ambassador Novikov said that Russia&rsquo;s two largest banks Lanta and Moscow Industrial Bank proposed to invest in Nepal&rsquo;s hydropower. The delegation said that they want to sign a G2G investment agreement with Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The delegation discussed about the legal provisions related to hydropower generation and distribution in Nepal and the potential of the regional market with Minister Pun. The ministry said that the team was also interested in the possibility of a joint project of electricity and irrigation. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Novikov said that they will invest in a &lsquo;pilot project&rsquo; and encourage both the private sector and the government to invest in Nepal by alaysing the market situation. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Minister Pun had projected that 10,000 MW of electricity would be consumed in Nepal&#39;s internal market in the next 10 years. He informed that the surplus electricity will be exported to India and Bangladesh and power purchase &nbsp;agreement has been already signed with India and Bangladesh regarding this. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We are ready for the modality which you find most convenient, we welcome it,&rdquo; Minister Pun said to the delegation, adding, &ldquo;We are okay if you find a market on your own otherwise we can also help arrange a market.&rdquo; </span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12778',
			'article_category_id' => '1',
			'title' => 'Use of QR Code for Payment Increasing',
			'sub_title' => 'NRB preparing to make it more organized',
			'summary' => 'December 9: The use of QR codes for payment has increased significantly in the market in recent days.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">December 9: The use of QR codes for payment has increased significantly in the market in recent days. As marketplaces are now using new devices to replace cash as means of payment, the frequency of payment through QR code has increased.</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:Calibri">Nepal Rastra Bank (NRB) reported that an additional 85,975 transactions worth Rs 321 million took place through QR code during the last month compared to the previous month. In mid-September to mid-October, customers made 265,000 transactions worth Rs 969 million using the code system. In mid-August to mid-September, altogether 179,000 transactions worth Rs 64.8 billion were reported in the country.</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:Calibri">Nepal Rastra Bank (NRB) is preparing to make the payment more systematic and uniform, as the payment from QR code has been increasing lately. The NRB is a statement informed that it is preparing to maintain QR code more systematically with the increase in transactions.</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:Calibri">The central bank is going to make more arrangements based on international standards. According to the central bank, international practice of QR code shows details including identifications of the customer and merchant, bank details, date and time of transaction mobile number the PSO operator and the three-page customer identification (KYC) of the person involved in the transaction.</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:Calibri">&ldquo;Such a scan should have the detailed information which should be on the server or all the details should be seen once scanned and found when we search. That is why we are trying to manage it,&rdquo; said an NRB source requesting anonymity.</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:Calibri">The QR code payment at present does not contain all this information.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12782',
			'article_category_id' => '1',
			'title' => 'Traffic Police Launch Special Campaign Against Motyorcycle Theft ',
			'sub_title' => '',
			'summary' => 'December 9: The Metropolitan Traffic Police Division (MTPD) has arrested 14 persons involved in stealing motorcycles from different parts of Kathmandu Valley in the current fiscal year. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The Metropolitan Traffic Police Division (MTPD) has arrested 14 persons involved in stealing motorcycles from different parts of Kathmandu Valley in the current fiscal year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According the division, it has started a special campaign to search for stolen motorcycles and to bust the gang of people involved in this activity. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The MTPD said in a statement on Tuesday (December 8) that it has already initiated action against those involved in stealing the motorcycles since a long time. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The traffic police division said it has recovered 85 stolen motorcycles from different areas of the valley and returned them to their rightful owners.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the division SSP Janak Bhattarai said that the police have started a special operation by deploying plain-clothes policemen to keep a watch on professional thieves who have been involved in this activity since a long time. He added that most of the motorcycles stolen in the capital have been found in villages outside the valley. Police have even mobilized informants in the villages to track stolen motorcycles, said SSP Bhattarai.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The traffic police division yesterday arrested 25-year-old Sujan Tamang of Kavre from Lalitpur&rsquo;s Dholahiti in possession with a stolen Pulsar 220 cc motorbike. According to the police, the bike was stolen from Setopul ten days ago.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Statistics show that theft of motorcycles parked in public places as well as isolated areas is rampant in Kathmandu. Police say that the use of additional lock and security system can prevent bikes from being stolen.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police investigation has revealed that the thieves often change the number plate or modify the parts of the stolen bikes so that the owners cannot recognize them.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
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			'id' => '12775',
			'article_category_id' => '236',
			'title' => 'Jagadamba Motors to Bring Int’l Car Brand Proton to Nepal',
			'sub_title' => '',
			'summary' => 'December 8: Proton, a Malaysian automobile company, has announced to launch its product in Nepal in the near future.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">December 8: Proton, a Malaysian automobile company, has announced to launch its product in Nepal in the near future. The company&rsquo;s most popular and highest selling model Proton Saga will roll on the streets of Nepal very soon, informed Jagdamba Motors, a sister concern of Shanker Group, and the exclusive distributor for Proton Motors in Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">A statement issued by Jagadamba Mortors says that Proton introduced its first car -- Proton Saga -- back in 1985. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The year 2018 was a landmark year for Proton for it launched its first SUV Proton X70,&rdquo; added the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The statement further said that Proton has become even more enhanced technologically after its collaboration with Geely and Volvo. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Proton invests millions of dollars in Research and Development which has enabled it to stay in competition with giant automobile companies. Proton has continuously been applying new breakthrough technologies in design and engineering in order to introduce new features to its cars.&rdquo;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12774',
			'article_category_id' => '1',
			'title' => '170 Hydropower Projects Unable to Sign PPA due to Flaw in Government Policy',
			'sub_title' => '',
			'summary' => 'December 8: Hydropower projects with capacity to generate around 7,000 megawatts of electricity have been denied permission to sign power purchase agreement (PPA) after the government blocked them from signing PPA stating that the quota of run-of-the river (ROR) hydroelectricity projects has reached its limit.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 8: Hydropower projects with capacity to generate around 7,000 megawatts of electricity have been denied permission to sign power purchase agreement (PPA) after the government blocked them from signing PPA stating that the quota of run-of-the river (ROR) hydroelectricity projects has reached its limit.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has denied permission for ROR hydropower projects to sign PPA under the &lsquo;take and pay&rsquo; scheme since the last one and a half years. As a result, a total of 170 private hydroelectricity projects with capacity to produce between 6000 to 7000 megawatts of electricity have not been able to sign PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government has stopped such projects from signing PPA under the pretext that the quota has reached its limit, it is still granting permission to new projects for conducting surveys.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data kept by the Department of Electricity Development, a total of 26 projects were granted permission for survey to develop 1691 MW of electricity during the last fiscal year while 5 such projects have been granted permission to survey the possibility of generating 88 MW of electricity in the current fiscal year. But the government has not allowed any of the completed projects to sign PPA since the last one and a half years.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned Nepal Electricity Authority (NEA) has refused to sign PPAs under the &lsquo;take and pay&rsquo; scheme with the private companies following instructions from the government. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has been giving permission for survey to the promoter companies without any hesitation. However, it has not signed any single deal with such projects to purchase electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This has left the promoters of the under-construction project worried. One of the promoters said that the government has been giving them license for survey only with the intention of collecting revenue. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of API Power Company Guru Prasad Neupane informed that around 170 projects have not been able to sign the PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;All of those projects have completed the required process. But they have not been able to strike the PPA,&rdquo; said Neupane, adding that two of the projects developed by API Power Company has also not been able to sign PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is not fair to give license to the projects but deny them the opportunity to sign PPA,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must take appropriate decision.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has set a target to develop 15,000 megawatts of electricity in 10&nbsp; years. That includes 30 percent from ROR projects, as per the government&rsquo;s concept. As per the government&rsquo;s target, ROR projects can supply only up to 4500 megawatts of electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">But the NEA has already initiated the process to purchase 6000 MW of electricity from ROR projects. However, the NEA has stopped signing PPA under take and pay scheme after the production of the ROR projects crossed the limit, says Ramji Bhandari, an official of NEA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, chairman of the Independent Power Producers Association of Nepal (IPPAN) Krishna Acharya says that the NEA is still not clear about the PPA issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Energy minister and officials of NEA assure us that they will sign PPA with us. But the NEA does not implement it,&rdquo; said Acharya.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12776',
			'article_category_id' => '1',
			'title' => 'Nepal Railway Company Preparing for a Land Management Master Plan ',
			'sub_title' => '',
			'summary' => 'December 8: Nepal Railway Company Limited, which is back in operation after six years, has started focusing on commercial use of land in railway stations including Janakpur.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">December 8: Nepal Railway Company Limited, which is back in operation after six years, has started focusing on commercial use of land in railway stations including Janakpur.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company which was revived to operate the Janakpur-Jaynagar&nbsp;Railway is planning to take commercial advantage of the land it owns.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company informed that it will search and record the company&#39;s assets and determine how to use such assets for commercial purpose.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company informed that the former property of Amalekhgunj-Raxaul Railway will be used for suitable commercial use in the action plan of the current fiscal year 2077/78.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">According to the first quarterly progress report of the current fiscal year, the company has mentioned that the historical steam locomotives and the physical infrastructure of the railways will be preserved.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">Guru Bhattarai, general manager of the company, informed that preparations have been made to bring the lands used by various ministries and other public bodies in the name of the company. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">&ldquo;The company is preparing to make a master plan to consolidate all the assets in the name of the company as it has not been able to take full advantage of the assets worth billions of rupees,&rdquo; he added.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12773',
			'article_category_id' => '1',
			'title' => 'Traders Facing Hard Time to Pay Exorbitant Rent of Shopping Malls',
			'sub_title' => '',
			'summary' => 'December 8: Unable to pay the rent of shopping malls, traders have started looking for renting areas available at cheaper rates.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">December 8: Unable to pay the rent of shopping malls, traders have started looking for renting areas available at cheaper rates. Citing the coronavirus pandemic and the impact of the lockdown, the traders of big shopping malls have started looking for cheaper areas for conducting their businesses. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Due to the effect of the pandemic, the businesses of big shopping malls and supermarkets in the main business centers of Kathmandu have decreased by about 75 percent. The traders are hard hit by the expensive rent of the shopping malls and supermarkets. Therefore, they believe that leaving the shopping malls as soon as possible and finding a cheaper place to do their business would bring them some relief. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to the treasurer of the Federation of Nepalese Chamber of Commerce and Industry Sushma Mahara, some traders have abandoned their businesses while many have left malls and started looking for cheaper spaces available for rent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Even though the entire business was halted due to the six-month long lockdown, the traders were compelled to pay the rent. But there is still no business. We don&rsquo;t know for how long we have to do business in loss. So, the traders have no option than to leave the mall and look for cheap places to run their business,&rdquo; she said. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to Mahara, it is also the responsibility of the mall operators to support the traders and bear the burden of loss equally.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Due to various other facilities including car parking, the minimum rent inside the malls is Rs 50,000 to Rs 200,000. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Traders say it is unfortunate for them to flee the business due to their inability to pay high rent and to leave the place where they have been doing business for years. </span></span></span></p>
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		'Article' => array(
			'id' => '12772',
			'article_category_id' => '1',
			'title' => 'EU Acknowledges Efforts Made by Nepal in Relation to Aviation Safety',
			'sub_title' => '',
			'summary' => 'December 8: The European Union (EU) has applauded the Government of Nepal for its firm commitment to improve aviation safety mechanisms although the EU is yet to remove Nepal from aviation safety blacklist.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 8: The European Union (EU) has </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">applauded the Government of Nepal for its firm commitment to improve aviation safety mechanisms although the EU is yet to remove Nepal from aviation safety blacklist.</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:Arial">In a statement issued on the International Civil Aviation Day on December 7, the EU noted that </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">the European Commission is aware of the efforts that have been undertaken by Nepal, notably in regard to the new aviation legislation currently proposed to the Parliament. </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:Arial">&ldquo;It would be key for this legislation to be adopted by the Parliament and subsequently implemented. This would allow the Commission to advance with the process of eventually removing Nepal from the EU Air Safety List,&rdquo; said the statement.</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:Arial">According to the EU, the standard process for removal from the list specifically includes organising a technical meeting (in Brussels) with CAAN to review the progress made, organising a subsequent on-site visit to Nepal by DG MOVE, EASA, and air safety experts from member states, which is needed in order to make a determination about the effective implementation of the safety enhancements, and ienacting the eventual removal from the EU Air Safety List by way of a Commission proposal to be endorsed by the EU Air Safety Committee. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The EU had banned Nepal from flying to its member states in December 2013 and is yet the remove the country from the blacklist. The EU kept Nepal in the list due to increasing incidents of plane crashes in the country. Nepali airliners have not been able to conduct flights to European countries ever since the ban was imposed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A considerable number of people from European countries had lost their lives in five air crashes in Nepal between 2010 to 2012, after which the EU imposed the ban. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Altogether 18 airline companies of Nepal, including helicopter operators, have been blacklisted by EU.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Analysts believe that EU has shown interest to lift the ban on Nepal for its efforts made to airlift people stranded by coronavirus and also because the country has grounded Chinese aircraft. Although EU has not mentioned anything public regarding Nepal using Chinese aircraft, experts say it is one of the reasons for the delay in removing the country from the black list.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai expressed his belief that Nepal will soon be removed from the blacklist of EU as the country has made tremendous reforms to meet the air safety standards of EU.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He said that the government has presented a draft bill to the House of Representatives and all concerns raised by the EU will be addressed once the bill is endorsed by parliament.</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:Arial">Meanwhile, the statement added that the European Commission with the assistance of the European Union Aviation Safety Agency (EASA), will deliver concrete and demand driven technical assistance to the Civil Aviation Authority of Nepal in order to support Nepal&rsquo;s efforts to enhance the aviation safety oversight in Nepal.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12785',
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			'title' => 'Nepal to Challenge India’s Geographical Indication Claim on Basmati Rice',
			'sub_title' => '',
			'summary' => 'December 10: Nepal has challenged India’s claim over geographical indication tag for Basmati rice. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 10: Nepal has challenged India&rsquo;s claim over geographical indication tag for Basmati rice. The government of Nepal is making preparations for counter claim after India lodged an application with the European Union exclusive rights over Basmati rice based on geographical indication. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Issuing a press statement, the Ministry of Agriculture and Livestock Development has said its serious attention has been drawn to the claim made by India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has maintained that Nepal too should enjoy exclusive rights based on geographical indication over Basmati rice as the country has been producing the rice species and selling it abroad since time immemorial.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry informed that the National Agriculture Genetic Resource Centre, Khumaltar will be making counter claim for the exclusive right at the EU within the given deadline.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson of the ministry Dr Hari Bahadur KC informed that the centre will soon make a formal claim on behalf of the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">India has also filed a patent claim against an American research company after the establishment of the&nbsp; World Trade Organisation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">India had filed the complaint after an American company obtained patent for a cross-breed of Basmati rice. After India won the claim, it has been exporting Basmati rice to the USA. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Pakistan has also claimed its stake on Basmati rice. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Vice President of the Intellectual Property Protection Society Madhusudhan Poudyal says Nepal made a mistake when India filed the patent claim but now it has take the right decision. He says it is necessary to stop India from claiming exclusive right over Basmati rice.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12784',
			'article_category_id' => '1',
			'title' => 'Prices of Food Products Rising Despite Normal Supply',
			'sub_title' => '',
			'summary' => 'December 10: The prices of food products have been consistently rising since the last one and a half months. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 10: The prices of food products have been consistently rising since the last one and a half months. Considering the prices of food before Dashain festival as reference point, there has been a price hike of up to 33 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prices of edible oil, sugar and pulses shot up by 25 percent soon after Dashain. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data provided by the Retail Business Association, the prices of lentil, pulses and edible oil have been consistently rising in recent weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;The price of string beans which was Rs 120 per kilogram increased by 33 percent to Rs 160 per kilogram. Similarly, red lentil which used to cost Rs 140 per kg before Dashain now costs Rs 160, which is 14 percent increase in price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Indian red lentil also increased from Rs 115 kg to Rs 125 per kg during the review period. The price of black lentil increased from Rs 150 per kg to Rs 170 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, price of soybean oil has increased by 20 percent from R s 150 per litre to Rs 180 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, price of mustard oil (Dhara brand) has increased from Rs 220 to Rs 240. Sunflower oil saw an increase in price from Rs 175 per litre to Rs 195.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of the Retail Business Association Raj Kumar Shrestha told New Business Age that the businessmen themselves are unaware about the reason behind price hike. He said that the industries and wholesalers have allegedly increased the price citing an increase in price in the international market but they have not mentioned it in the bill. Shrestha further said that the retailers are unable to maintain a uniform price because they haven&rsquo;t received accurate bill from the producers and wholesalers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;There isn&rsquo;t any shortage of food in the market and there isn&rsquo;t any excessive demand. Therefore, price hike during this time is unusual,&rdquo; said Shrestha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, wholesalers accuse the retailers of refusing to take the bill due to fear of value added tax (VAT).</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 2 => array(
		'Article' => array(
			'id' => '12787',
			'article_category_id' => '1',
			'title' => 'Government Extends Deadline for Renewal of Blue Book by 3 Months',
			'sub_title' => '',
			'summary' => 'December 10: The government has extended the renewal period of vehicles’ blue book by three months. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 10: The government has extended the renewal period of vehicles&rsquo; blue book by three months. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">A recent cabinet meeting took a decision to this effect. In addition to blue book renewal, the government has also extended the deadline for renewal of driving license as well as vehicles&rsquo; fitness test and route permit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Unveiling the decisions taken by the Council of Ministers on Wednesday, government&rsquo;s spokesperson Parbat Gurung confirmed that the deadline for renewal of blue book has been extended by three months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The government had set the deadline of mid-September for payment of fines as well as renewal of blue books and route permits due to the coronavirus pandemic. As the restrictions were not fully lifted even after mid-September, the government decided to further extend the deadline. The decision to extend the deadline was also taken considering the festive season and various other reasons that hampered the smooth functioning of government offices. The government has announced that it will not be charging any fine or late fee during this period. The grace period will remain effective till mid-December.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The Ministry of Physical Infrastructure and Transport has already directed the Department of Transport Management to implement the decision taken by the Council of Ministers.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12783',
			'article_category_id' => '1',
			'title' => 'Government to Issue Certificate of Origin to Discourage Unauthorized Export',
			'sub_title' => '',
			'summary' => 'December 10: The government has decided to issue Certificate of Origin to the products made in Nepal from the raw materials imported from third countries in order to curb unauthorized export of such products. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 10: The government has decided to issue Certificate of Origin to the products made in Nepal from the raw materials imported from third countries in order to curb unauthorized export of such products. The move comes after India&rsquo;s accusation that Nepal has been importing unrefined palm oil and then exporting the products without refining them to India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">From now on, importers can bring food products from overseas only upon the recommendation from the authorised government body formed to regulate food market of the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have been facing accusation that they have been importing food products like pepper, beetle nuts and dates from third countries without authorization and then exporting them to India. Therefore India has banned the import of these products from Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Certificate of Origin stands as a proof that the products are manufactured in Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Prior to this, the government had increased customs duty and allowed export of limited products in order to discourage unauthorized export. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India has been accusing Nepal of exporting products imported from countries like Malaysia, Singapore and Indonesia as its own product. India made such accusation during the recent secretary-level meeting between the two countries to discuss trade-related issues.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry, Commerce and Supplies believes that the issuance of Certificate of Origin will promote lawful business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Unauthorised business will come to a halt one the Certificate of Origin is issued,&rdquo; said joint secretary Urmila KC, adding, &ldquo;This will be beneficial for the country&rsquo;s industries.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12779',
			'article_category_id' => '1',
			'title' => '18 Commercial Banks Record Increase in Non-Performing Loans',
			'sub_title' => '',
			'summary' => 'December 9: The non-performing loans of majority of commercial banks have increased as the lockdown to curb coronavirus affected most of the businesses in the country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The non-performing loans of majority of commercial banks have increased as the lockdown to curb coronavirus affected most of the businesses in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The non-performing loans of 18 out of 27 commercial banks increased in the first quarter of the current fiscal year compared to the corresponding period of last FY.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the remaining nine commercial banks have kept the non-performing loans in check.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bankers say that the non-performing loans could further increase as the individuals and businesses affected by coronavirus have not been able to pay the interest and installment and are unlikely to pay in bulk amount. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bankers say that although they have given the defaulters affected by coronavirus some more time to pay the loan and interest, it will only pile up pressure later on. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Sooner or later the borrowers will have to pay the interest and loan. If they do not pay now and pile up the amount, its impact will be seen in the non-performing loan,&rdquo; said a banker requesting not to be named.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned Rastriya Banijya Bank has the highest amount of non-performing loan in the current fiscal year. The non-performing loan of RBB, which was 3.50 percent in the first quarter of last fiscal year, has increased to 4.10 percent this year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of Rastriya Banijya Bank Kiran Kumar Shrestha says they were expecting the NPL to rise because the businesses have not been able to operate smoothly and the borrowers are unable to pay the interest and installment. Shrestha says they are anticipating non-performing loan to increase further.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The sectors most affected by Covid-19 haven&rsquo;t paid their loans or interest. We have be lenient toward those who are affected by the pandemic and we cannot force them to pay the loan. This only risks further increasing NPL,&rdquo; said Shrestha. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Another state-owned bank- Nepal Bank Limited- stands second in the list of banks with high non-performing loans. Nepal Bank has recorded 3.2 percent NPL in the first quarter of the current fiscal year. During the corresponding period of last FY, the banks NPL was 2.75 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the NPL of NMB Bank is 2.26 percent followed by Bank of Kathmandu (2.18 percent), Global IME Bank (1.83 percent), Sunrise Bank (1.58 percent), Kumari Bank (1.43 percent) and Century Bank (1.43 percent). The NPL of Nepal Bangladesh Bank is 1.97 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other banks which have recorded an increase in non-performing loans by 0.23 percentage points.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, other nine commercial banks have succeeded in reducing their NPL. Despite covid-19 crisis, NIC Asia Bank has maintained its non-performing loan at 0.40 percent in the third week of October. Likewise, other banks that have succeeded in lowering their NPL include Laxmi Bank (0.97 percent), Mega Bank (1.0 percent), Agriculture Development Bank (2.37 percent), Prabhu Bank (2.67 percent) and NCC Bank (2.83 percent).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of Himalayan Bank Sushil Joshi says that the relief given to the borrowers at present is certain to increase NPL because they will have to pay at once later on. It will have an impact on the bank&rsquo;s distributable profit, says Joshi.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12777',
			'article_category_id' => '1',
			'title' => 'Height of Mount Everest Increases by 86 Centimetres',
			'sub_title' => '',
			'summary' => 'December 9: The height of Mount Everest has increased by 86 centimetres.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The height of Mount Everest has increased by 86 centimetres.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Foreign Affairs Pradeep Gyawali made the revelation during a function organised at the Department of Survey on Tuesday (December 9).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">With the formal announcement made jointly by the Government of Nepal as well as China, the official height of Mt Everest has now been revised to 8848.86 meters.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Until now, the height of Everest was considered 8848 meters. That measurement was taken in 1857 by India&rsquo;s GL Gulati Company. Nepal conducted a survey on its own following speculations that the 2015 earthquakes might have altered the height of the world&rsquo;s highest peak.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal and China had agreed to jointly measure the height of Mt Everest during Chinese President Xi Jinping&rsquo;s state visit to Nepal last year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Survey conducted a study to measure the height of Mt Everest be spending Rs 130 million. It took almost two years to complete the study.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Survey officer Sushil Dangol informed that they used various techniques to measure the height of Mt Everest because the use of a single technique would raise doubts regarding the findings of the study. He said that the department used direct measurement, triangulation method and global positioning&nbsp; system (GPS) to reach to the conclusion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Dangol, the surveyors measure height of the mountain directly from both faces in direct measurement. Likewise, in the triangulation method, they use a certain point as reference to measure the height while the GPS method employs earth&rsquo;s gravitational force and sophisticated equipment for the measurement.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12781',
			'article_category_id' => '1',
			'title' => 'Insurance Companies told to Unveil Financial Report in Compliance to NFRS  ',
			'sub_title' => '',
			'summary' => 'December 9: Insurance companies will also have to make their financial reports public from now onward in accordance to the Nepal Financial Reporting Standard (NFRS).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: Insurance companies will also have to make their financial reports public from now onward in accordance to the Nepal Financial Reporting Standard (NFRS).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Issuing separate circulars to reinsurance and non-life insurance companies on Monday (December 7), the Insurance Board instructed them to follow NFRS while unveiling their financial report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Now, those insurance companies will have to make public their quarterly and annual financial reports based on NFRS. The board has said this provision will have to be implemented from the start of the current fiscal year.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'sortorder' => '12527',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12780',
			'article_category_id' => '1',
			'title' => 'Russia’s Shows Interest to Invest in Nepal’s Hydropower Sector',
			'sub_title' => '',
			'summary' => 'December 9: Russia has expressed its interest in investing in the hydropower sector of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 9: Russia has expressed its interest in investing in the hydropower sector of Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">A delegation led by Russian Ambassador to Nepal Aleksei Novikov met with Minister for Energy, Water Resources and Irrigation Barshaman Pun on Tuesday and informed that two Russian banks have shown such interest. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">During the meeting, ambassador Novikov said that Russia&rsquo;s two largest banks Lanta and Moscow Industrial Bank proposed to invest in Nepal&rsquo;s hydropower. The delegation said that they want to sign a G2G investment agreement with Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The delegation discussed about the legal provisions related to hydropower generation and distribution in Nepal and the potential of the regional market with Minister Pun. The ministry said that the team was also interested in the possibility of a joint project of electricity and irrigation. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Novikov said that they will invest in a &lsquo;pilot project&rsquo; and encourage both the private sector and the government to invest in Nepal by alaysing the market situation. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Minister Pun had projected that 10,000 MW of electricity would be consumed in Nepal&#39;s internal market in the next 10 years. He informed that the surplus electricity will be exported to India and Bangladesh and power purchase &nbsp;agreement has been already signed with India and Bangladesh regarding this. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We are ready for the modality which you find most convenient, we welcome it,&rdquo; Minister Pun said to the delegation, adding, &ldquo;We are okay if you find a market on your own otherwise we can also help arrange a market.&rdquo; </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-12-09',
			'modified' => '2020-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12526',
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			'article_date' => '2020-12-09 14:26:53',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12778',
			'article_category_id' => '1',
			'title' => 'Use of QR Code for Payment Increasing',
			'sub_title' => 'NRB preparing to make it more organized',
			'summary' => 'December 9: The use of QR codes for payment has increased significantly in the market in recent days.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">December 9: The use of QR codes for payment has increased significantly in the market in recent days. As marketplaces are now using new devices to replace cash as means of payment, the frequency of payment through QR code has increased.</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:Calibri">Nepal Rastra Bank (NRB) reported that an additional 85,975 transactions worth Rs 321 million took place through QR code during the last month compared to the previous month. In mid-September to mid-October, customers made 265,000 transactions worth Rs 969 million using the code system. In mid-August to mid-September, altogether 179,000 transactions worth Rs 64.8 billion were reported in the country.</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:Calibri">Nepal Rastra Bank (NRB) is preparing to make the payment more systematic and uniform, as the payment from QR code has been increasing lately. The NRB is a statement informed that it is preparing to maintain QR code more systematically with the increase in transactions.</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:Calibri">The central bank is going to make more arrangements based on international standards. According to the central bank, international practice of QR code shows details including identifications of the customer and merchant, bank details, date and time of transaction mobile number the PSO operator and the three-page customer identification (KYC) of the person involved in the transaction.</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:Calibri">&ldquo;Such a scan should have the detailed information which should be on the server or all the details should be seen once scanned and found when we search. That is why we are trying to manage it,&rdquo; said an NRB source requesting anonymity.</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:Calibri">The QR code payment at present does not contain all this information.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2020-12-09',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12525',
			'image' => '20201209125551_1607471670.Clipboard09.jpg',
			'article_date' => '2020-12-09 12:55:10',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12782',
			'article_category_id' => '1',
			'title' => 'Traffic Police Launch Special Campaign Against Motyorcycle Theft ',
			'sub_title' => '',
			'summary' => 'December 9: The Metropolitan Traffic Police Division (MTPD) has arrested 14 persons involved in stealing motorcycles from different parts of Kathmandu Valley in the current fiscal year. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The Metropolitan Traffic Police Division (MTPD) has arrested 14 persons involved in stealing motorcycles from different parts of Kathmandu Valley in the current fiscal year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According the division, it has started a special campaign to search for stolen motorcycles and to bust the gang of people involved in this activity. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The MTPD said in a statement on Tuesday (December 8) that it has already initiated action against those involved in stealing the motorcycles since a long time. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The traffic police division said it has recovered 85 stolen motorcycles from different areas of the valley and returned them to their rightful owners.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the division SSP Janak Bhattarai said that the police have started a special operation by deploying plain-clothes policemen to keep a watch on professional thieves who have been involved in this activity since a long time. He added that most of the motorcycles stolen in the capital have been found in villages outside the valley. Police have even mobilized informants in the villages to track stolen motorcycles, said SSP Bhattarai.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The traffic police division yesterday arrested 25-year-old Sujan Tamang of Kavre from Lalitpur&rsquo;s Dholahiti in possession with a stolen Pulsar 220 cc motorbike. According to the police, the bike was stolen from Setopul ten days ago.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Statistics show that theft of motorcycles parked in public places as well as isolated areas is rampant in Kathmandu. Police say that the use of additional lock and security system can prevent bikes from being stolen.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police investigation has revealed that the thieves often change the number plate or modify the parts of the stolen bikes so that the owners cannot recognize them.</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-12-09',
			'modified' => '2020-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12524',
			'image' => '20201209023911_MotorcycleTheft3.jpg',
			'article_date' => '2020-12-09 14:38:36',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12775',
			'article_category_id' => '236',
			'title' => 'Jagadamba Motors to Bring Int’l Car Brand Proton to Nepal',
			'sub_title' => '',
			'summary' => 'December 8: Proton, a Malaysian automobile company, has announced to launch its product in Nepal in the near future.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">December 8: Proton, a Malaysian automobile company, has announced to launch its product in Nepal in the near future. The company&rsquo;s most popular and highest selling model Proton Saga will roll on the streets of Nepal very soon, informed Jagdamba Motors, a sister concern of Shanker Group, and the exclusive distributor for Proton Motors in Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">A statement issued by Jagadamba Mortors says that Proton introduced its first car -- Proton Saga -- back in 1985. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The year 2018 was a landmark year for Proton for it launched its first SUV Proton X70,&rdquo; added the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The statement further said that Proton has become even more enhanced technologically after its collaboration with Geely and Volvo. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Proton invests millions of dollars in Research and Development which has enabled it to stay in competition with giant automobile companies. Proton has continuously been applying new breakthrough technologies in design and engineering in order to introduce new features to its cars.&rdquo;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-12-08',
			'modified' => '2021-12-23',
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			'description' => '',
			'sortorder' => '12523',
			'image' => '20201208033507_2017_Proton_Saga_(BT)_1.3_Standard_4-door_sedan_(01)_(34209794061).jpg',
			'article_date' => '2020-12-08 15:34:23',
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	(int) 11 => array(
		'Article' => array(
			'id' => '12774',
			'article_category_id' => '1',
			'title' => '170 Hydropower Projects Unable to Sign PPA due to Flaw in Government Policy',
			'sub_title' => '',
			'summary' => 'December 8: Hydropower projects with capacity to generate around 7,000 megawatts of electricity have been denied permission to sign power purchase agreement (PPA) after the government blocked them from signing PPA stating that the quota of run-of-the river (ROR) hydroelectricity projects has reached its limit.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 8: Hydropower projects with capacity to generate around 7,000 megawatts of electricity have been denied permission to sign power purchase agreement (PPA) after the government blocked them from signing PPA stating that the quota of run-of-the river (ROR) hydroelectricity projects has reached its limit.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has denied permission for ROR hydropower projects to sign PPA under the &lsquo;take and pay&rsquo; scheme since the last one and a half years. As a result, a total of 170 private hydroelectricity projects with capacity to produce between 6000 to 7000 megawatts of electricity have not been able to sign PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government has stopped such projects from signing PPA under the pretext that the quota has reached its limit, it is still granting permission to new projects for conducting surveys.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data kept by the Department of Electricity Development, a total of 26 projects were granted permission for survey to develop 1691 MW of electricity during the last fiscal year while 5 such projects have been granted permission to survey the possibility of generating 88 MW of electricity in the current fiscal year. But the government has not allowed any of the completed projects to sign PPA since the last one and a half years.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned Nepal Electricity Authority (NEA) has refused to sign PPAs under the &lsquo;take and pay&rsquo; scheme with the private companies following instructions from the government. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has been giving permission for survey to the promoter companies without any hesitation. However, it has not signed any single deal with such projects to purchase electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This has left the promoters of the under-construction project worried. One of the promoters said that the government has been giving them license for survey only with the intention of collecting revenue. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of API Power Company Guru Prasad Neupane informed that around 170 projects have not been able to sign the PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;All of those projects have completed the required process. But they have not been able to strike the PPA,&rdquo; said Neupane, adding that two of the projects developed by API Power Company has also not been able to sign PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is not fair to give license to the projects but deny them the opportunity to sign PPA,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must take appropriate decision.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has set a target to develop 15,000 megawatts of electricity in 10&nbsp; years. That includes 30 percent from ROR projects, as per the government&rsquo;s concept. As per the government&rsquo;s target, ROR projects can supply only up to 4500 megawatts of electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">But the NEA has already initiated the process to purchase 6000 MW of electricity from ROR projects. However, the NEA has stopped signing PPA under take and pay scheme after the production of the ROR projects crossed the limit, says Ramji Bhandari, an official of NEA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, chairman of the Independent Power Producers Association of Nepal (IPPAN) Krishna Acharya says that the NEA is still not clear about the PPA issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Energy minister and officials of NEA assure us that they will sign PPA with us. But the NEA does not implement it,&rdquo; said Acharya.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-12-08',
			'modified' => '2020-12-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12522',
			'image' => '20201208032412_My Effect.jpg',
			'article_date' => '2020-12-08 15:23:35',
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	(int) 12 => array(
		'Article' => array(
			'id' => '12776',
			'article_category_id' => '1',
			'title' => 'Nepal Railway Company Preparing for a Land Management Master Plan ',
			'sub_title' => '',
			'summary' => 'December 8: Nepal Railway Company Limited, which is back in operation after six years, has started focusing on commercial use of land in railway stations including Janakpur.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">December 8: Nepal Railway Company Limited, which is back in operation after six years, has started focusing on commercial use of land in railway stations including Janakpur.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company which was revived to operate the Janakpur-Jaynagar&nbsp;Railway is planning to take commercial advantage of the land it owns.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company informed that it will search and record the company&#39;s assets and determine how to use such assets for commercial purpose.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company informed that the former property of Amalekhgunj-Raxaul Railway will be used for suitable commercial use in the action plan of the current fiscal year 2077/78.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">According to the first quarterly progress report of the current fiscal year, the company has mentioned that the historical steam locomotives and the physical infrastructure of the railways will be preserved.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">Guru Bhattarai, general manager of the company, informed that preparations have been made to bring the lands used by various ministries and other public bodies in the name of the company. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">&ldquo;The company is preparing to make a master plan to consolidate all the assets in the name of the company as it has not been able to take full advantage of the assets worth billions of rupees,&rdquo; he added.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-12-08',
			'modified' => '2020-12-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12521',
			'image' => '20201208034208_1200px-Nepal_Railway,_Janakpur_20200918.jpg',
			'article_date' => '2020-12-08 15:41:30',
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	(int) 13 => array(
		'Article' => array(
			'id' => '12773',
			'article_category_id' => '1',
			'title' => 'Traders Facing Hard Time to Pay Exorbitant Rent of Shopping Malls',
			'sub_title' => '',
			'summary' => 'December 8: Unable to pay the rent of shopping malls, traders have started looking for renting areas available at cheaper rates.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">December 8: Unable to pay the rent of shopping malls, traders have started looking for renting areas available at cheaper rates. Citing the coronavirus pandemic and the impact of the lockdown, the traders of big shopping malls have started looking for cheaper areas for conducting their businesses. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Due to the effect of the pandemic, the businesses of big shopping malls and supermarkets in the main business centers of Kathmandu have decreased by about 75 percent. The traders are hard hit by the expensive rent of the shopping malls and supermarkets. Therefore, they believe that leaving the shopping malls as soon as possible and finding a cheaper place to do their business would bring them some relief. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to the treasurer of the Federation of Nepalese Chamber of Commerce and Industry Sushma Mahara, some traders have abandoned their businesses while many have left malls and started looking for cheaper spaces available for rent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Even though the entire business was halted due to the six-month long lockdown, the traders were compelled to pay the rent. But there is still no business. We don&rsquo;t know for how long we have to do business in loss. So, the traders have no option than to leave the mall and look for cheap places to run their business,&rdquo; she said. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to Mahara, it is also the responsibility of the mall operators to support the traders and bear the burden of loss equally.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Due to various other facilities including car parking, the minimum rent inside the malls is Rs 50,000 to Rs 200,000. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Traders say it is unfortunate for them to flee the business due to their inability to pay high rent and to leave the place where they have been doing business for years. </span></span></span></p>
',
			'published' => true,
			'created' => '2020-12-08',
			'modified' => '2020-12-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12520',
			'image' => '20201208024625_3957484943_80b698f208_b_20190613185605.jpg',
			'article_date' => '2020-12-08 14:45:44',
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	(int) 14 => array(
		'Article' => array(
			'id' => '12772',
			'article_category_id' => '1',
			'title' => 'EU Acknowledges Efforts Made by Nepal in Relation to Aviation Safety',
			'sub_title' => '',
			'summary' => 'December 8: The European Union (EU) has applauded the Government of Nepal for its firm commitment to improve aviation safety mechanisms although the EU is yet to remove Nepal from aviation safety blacklist.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 8: The European Union (EU) has </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">applauded the Government of Nepal for its firm commitment to improve aviation safety mechanisms although the EU is yet to remove Nepal from aviation safety blacklist.</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:Arial">In a statement issued on the International Civil Aviation Day on December 7, the EU noted that </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">the European Commission is aware of the efforts that have been undertaken by Nepal, notably in regard to the new aviation legislation currently proposed to the Parliament. </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:Arial">&ldquo;It would be key for this legislation to be adopted by the Parliament and subsequently implemented. This would allow the Commission to advance with the process of eventually removing Nepal from the EU Air Safety List,&rdquo; said the statement.</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:Arial">According to the EU, the standard process for removal from the list specifically includes organising a technical meeting (in Brussels) with CAAN to review the progress made, organising a subsequent on-site visit to Nepal by DG MOVE, EASA, and air safety experts from member states, which is needed in order to make a determination about the effective implementation of the safety enhancements, and ienacting the eventual removal from the EU Air Safety List by way of a Commission proposal to be endorsed by the EU Air Safety Committee. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The EU had banned Nepal from flying to its member states in December 2013 and is yet the remove the country from the blacklist. The EU kept Nepal in the list due to increasing incidents of plane crashes in the country. Nepali airliners have not been able to conduct flights to European countries ever since the ban was imposed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A considerable number of people from European countries had lost their lives in five air crashes in Nepal between 2010 to 2012, after which the EU imposed the ban. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Altogether 18 airline companies of Nepal, including helicopter operators, have been blacklisted by EU.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Analysts believe that EU has shown interest to lift the ban on Nepal for its efforts made to airlift people stranded by coronavirus and also because the country has grounded Chinese aircraft. Although EU has not mentioned anything public regarding Nepal using Chinese aircraft, experts say it is one of the reasons for the delay in removing the country from the black list.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai expressed his belief that Nepal will soon be removed from the blacklist of EU as the country has made tremendous reforms to meet the air safety standards of EU.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He said that the government has presented a draft bill to the House of Representatives and all concerns raised by the EU will be addressed once the bill is endorsed by parliament.</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:Arial">Meanwhile, the statement added that the European Commission with the assistance of the European Union Aviation Safety Agency (EASA), will deliver concrete and demand driven technical assistance to the Civil Aviation Authority of Nepal in order to support Nepal&rsquo;s efforts to enhance the aviation safety oversight in Nepal.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12785',
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			'title' => 'Nepal to Challenge India’s Geographical Indication Claim on Basmati Rice',
			'sub_title' => '',
			'summary' => 'December 10: Nepal has challenged India’s claim over geographical indication tag for Basmati rice. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 10: Nepal has challenged India&rsquo;s claim over geographical indication tag for Basmati rice. The government of Nepal is making preparations for counter claim after India lodged an application with the European Union exclusive rights over Basmati rice based on geographical indication. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Issuing a press statement, the Ministry of Agriculture and Livestock Development has said its serious attention has been drawn to the claim made by India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has maintained that Nepal too should enjoy exclusive rights based on geographical indication over Basmati rice as the country has been producing the rice species and selling it abroad since time immemorial.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry informed that the National Agriculture Genetic Resource Centre, Khumaltar will be making counter claim for the exclusive right at the EU within the given deadline.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson of the ministry Dr Hari Bahadur KC informed that the centre will soon make a formal claim on behalf of the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">India has also filed a patent claim against an American research company after the establishment of the&nbsp; World Trade Organisation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">India had filed the complaint after an American company obtained patent for a cross-breed of Basmati rice. After India won the claim, it has been exporting Basmati rice to the USA. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Pakistan has also claimed its stake on Basmati rice. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Vice President of the Intellectual Property Protection Society Madhusudhan Poudyal says Nepal made a mistake when India filed the patent claim but now it has take the right decision. He says it is necessary to stop India from claiming exclusive right over Basmati rice.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12784',
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			'title' => 'Prices of Food Products Rising Despite Normal Supply',
			'sub_title' => '',
			'summary' => 'December 10: The prices of food products have been consistently rising since the last one and a half months. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 10: The prices of food products have been consistently rising since the last one and a half months. Considering the prices of food before Dashain festival as reference point, there has been a price hike of up to 33 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prices of edible oil, sugar and pulses shot up by 25 percent soon after Dashain. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data provided by the Retail Business Association, the prices of lentil, pulses and edible oil have been consistently rising in recent weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;The price of string beans which was Rs 120 per kilogram increased by 33 percent to Rs 160 per kilogram. Similarly, red lentil which used to cost Rs 140 per kg before Dashain now costs Rs 160, which is 14 percent increase in price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Indian red lentil also increased from Rs 115 kg to Rs 125 per kg during the review period. The price of black lentil increased from Rs 150 per kg to Rs 170 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, price of soybean oil has increased by 20 percent from R s 150 per litre to Rs 180 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, price of mustard oil (Dhara brand) has increased from Rs 220 to Rs 240. Sunflower oil saw an increase in price from Rs 175 per litre to Rs 195.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of the Retail Business Association Raj Kumar Shrestha told New Business Age that the businessmen themselves are unaware about the reason behind price hike. He said that the industries and wholesalers have allegedly increased the price citing an increase in price in the international market but they have not mentioned it in the bill. Shrestha further said that the retailers are unable to maintain a uniform price because they haven&rsquo;t received accurate bill from the producers and wholesalers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;There isn&rsquo;t any shortage of food in the market and there isn&rsquo;t any excessive demand. Therefore, price hike during this time is unusual,&rdquo; said Shrestha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, wholesalers accuse the retailers of refusing to take the bill due to fear of value added tax (VAT).</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Government Extends Deadline for Renewal of Blue Book by 3 Months',
			'sub_title' => '',
			'summary' => 'December 10: The government has extended the renewal period of vehicles’ blue book by three months. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 10: The government has extended the renewal period of vehicles&rsquo; blue book by three months. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">A recent cabinet meeting took a decision to this effect. In addition to blue book renewal, the government has also extended the deadline for renewal of driving license as well as vehicles&rsquo; fitness test and route permit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">Unveiling the decisions taken by the Council of Ministers on Wednesday, government&rsquo;s spokesperson Parbat Gurung confirmed that the deadline for renewal of blue book has been extended by three months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The government had set the deadline of mid-September for payment of fines as well as renewal of blue books and route permits due to the coronavirus pandemic. As the restrictions were not fully lifted even after mid-September, the government decided to further extend the deadline. The decision to extend the deadline was also taken considering the festive season and various other reasons that hampered the smooth functioning of government offices. The government has announced that it will not be charging any fine or late fee during this period. The grace period will remain effective till mid-December.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">The Ministry of Physical Infrastructure and Transport has already directed the Department of Transport Management to implement the decision taken by the Council of Ministers.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12783',
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			'title' => 'Government to Issue Certificate of Origin to Discourage Unauthorized Export',
			'sub_title' => '',
			'summary' => 'December 10: The government has decided to issue Certificate of Origin to the products made in Nepal from the raw materials imported from third countries in order to curb unauthorized export of such products. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 10: The government has decided to issue Certificate of Origin to the products made in Nepal from the raw materials imported from third countries in order to curb unauthorized export of such products. The move comes after India&rsquo;s accusation that Nepal has been importing unrefined palm oil and then exporting the products without refining them to India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">From now on, importers can bring food products from overseas only upon the recommendation from the authorised government body formed to regulate food market of the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have been facing accusation that they have been importing food products like pepper, beetle nuts and dates from third countries without authorization and then exporting them to India. Therefore India has banned the import of these products from Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Certificate of Origin stands as a proof that the products are manufactured in Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Prior to this, the government had increased customs duty and allowed export of limited products in order to discourage unauthorized export. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India has been accusing Nepal of exporting products imported from countries like Malaysia, Singapore and Indonesia as its own product. India made such accusation during the recent secretary-level meeting between the two countries to discuss trade-related issues.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry, Commerce and Supplies believes that the issuance of Certificate of Origin will promote lawful business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Unauthorised business will come to a halt one the Certificate of Origin is issued,&rdquo; said joint secretary Urmila KC, adding, &ldquo;This will be beneficial for the country&rsquo;s industries.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => '18 Commercial Banks Record Increase in Non-Performing Loans',
			'sub_title' => '',
			'summary' => 'December 9: The non-performing loans of majority of commercial banks have increased as the lockdown to curb coronavirus affected most of the businesses in the country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The non-performing loans of majority of commercial banks have increased as the lockdown to curb coronavirus affected most of the businesses in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The non-performing loans of 18 out of 27 commercial banks increased in the first quarter of the current fiscal year compared to the corresponding period of last FY.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the remaining nine commercial banks have kept the non-performing loans in check.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bankers say that the non-performing loans could further increase as the individuals and businesses affected by coronavirus have not been able to pay the interest and installment and are unlikely to pay in bulk amount. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bankers say that although they have given the defaulters affected by coronavirus some more time to pay the loan and interest, it will only pile up pressure later on. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Sooner or later the borrowers will have to pay the interest and loan. If they do not pay now and pile up the amount, its impact will be seen in the non-performing loan,&rdquo; said a banker requesting not to be named.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned Rastriya Banijya Bank has the highest amount of non-performing loan in the current fiscal year. The non-performing loan of RBB, which was 3.50 percent in the first quarter of last fiscal year, has increased to 4.10 percent this year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of Rastriya Banijya Bank Kiran Kumar Shrestha says they were expecting the NPL to rise because the businesses have not been able to operate smoothly and the borrowers are unable to pay the interest and installment. Shrestha says they are anticipating non-performing loan to increase further.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The sectors most affected by Covid-19 haven&rsquo;t paid their loans or interest. We have be lenient toward those who are affected by the pandemic and we cannot force them to pay the loan. This only risks further increasing NPL,&rdquo; said Shrestha. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Another state-owned bank- Nepal Bank Limited- stands second in the list of banks with high non-performing loans. Nepal Bank has recorded 3.2 percent NPL in the first quarter of the current fiscal year. During the corresponding period of last FY, the banks NPL was 2.75 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the NPL of NMB Bank is 2.26 percent followed by Bank of Kathmandu (2.18 percent), Global IME Bank (1.83 percent), Sunrise Bank (1.58 percent), Kumari Bank (1.43 percent) and Century Bank (1.43 percent). The NPL of Nepal Bangladesh Bank is 1.97 percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other banks which have recorded an increase in non-performing loans by 0.23 percentage points.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, other nine commercial banks have succeeded in reducing their NPL. Despite covid-19 crisis, NIC Asia Bank has maintained its non-performing loan at 0.40 percent in the third week of October. Likewise, other banks that have succeeded in lowering their NPL include Laxmi Bank (0.97 percent), Mega Bank (1.0 percent), Agriculture Development Bank (2.37 percent), Prabhu Bank (2.67 percent) and NCC Bank (2.83 percent).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of Himalayan Bank Sushil Joshi says that the relief given to the borrowers at present is certain to increase NPL because they will have to pay at once later on. It will have an impact on the bank&rsquo;s distributable profit, says Joshi.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12777',
			'article_category_id' => '1',
			'title' => 'Height of Mount Everest Increases by 86 Centimetres',
			'sub_title' => '',
			'summary' => 'December 9: The height of Mount Everest has increased by 86 centimetres.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The height of Mount Everest has increased by 86 centimetres.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister for Foreign Affairs Pradeep Gyawali made the revelation during a function organised at the Department of Survey on Tuesday (December 9).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">With the formal announcement made jointly by the Government of Nepal as well as China, the official height of Mt Everest has now been revised to 8848.86 meters.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Until now, the height of Everest was considered 8848 meters. That measurement was taken in 1857 by India&rsquo;s GL Gulati Company. Nepal conducted a survey on its own following speculations that the 2015 earthquakes might have altered the height of the world&rsquo;s highest peak.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal and China had agreed to jointly measure the height of Mt Everest during Chinese President Xi Jinping&rsquo;s state visit to Nepal last year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Survey conducted a study to measure the height of Mt Everest be spending Rs 130 million. It took almost two years to complete the study.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Survey officer Sushil Dangol informed that they used various techniques to measure the height of Mt Everest because the use of a single technique would raise doubts regarding the findings of the study. He said that the department used direct measurement, triangulation method and global positioning&nbsp; system (GPS) to reach to the conclusion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Dangol, the surveyors measure height of the mountain directly from both faces in direct measurement. Likewise, in the triangulation method, they use a certain point as reference to measure the height while the GPS method employs earth&rsquo;s gravitational force and sophisticated equipment for the measurement.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12528',
			'image' => '20201209120005_1607418193.mount_everest.jpg',
			'article_date' => '2020-12-09 11:59:31',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12781',
			'article_category_id' => '1',
			'title' => 'Insurance Companies told to Unveil Financial Report in Compliance to NFRS  ',
			'sub_title' => '',
			'summary' => 'December 9: Insurance companies will also have to make their financial reports public from now onward in accordance to the Nepal Financial Reporting Standard (NFRS).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: Insurance companies will also have to make their financial reports public from now onward in accordance to the Nepal Financial Reporting Standard (NFRS).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Issuing separate circulars to reinsurance and non-life insurance companies on Monday (December 7), the Insurance Board instructed them to follow NFRS while unveiling their financial report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Now, those insurance companies will have to make public their quarterly and annual financial reports based on NFRS. The board has said this provision will have to be implemented from the start of the current fiscal year.</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-12-09',
			'modified' => '2020-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12527',
			'image' => '20201209023803_20200825040928_bima_samiti.jpg',
			'article_date' => '2020-12-09 14:37:32',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12780',
			'article_category_id' => '1',
			'title' => 'Russia’s Shows Interest to Invest in Nepal’s Hydropower Sector',
			'sub_title' => '',
			'summary' => 'December 9: Russia has expressed its interest in investing in the hydropower sector of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 9: Russia has expressed its interest in investing in the hydropower sector of Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">A delegation led by Russian Ambassador to Nepal Aleksei Novikov met with Minister for Energy, Water Resources and Irrigation Barshaman Pun on Tuesday and informed that two Russian banks have shown such interest. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">During the meeting, ambassador Novikov said that Russia&rsquo;s two largest banks Lanta and Moscow Industrial Bank proposed to invest in Nepal&rsquo;s hydropower. The delegation said that they want to sign a G2G investment agreement with Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The delegation discussed about the legal provisions related to hydropower generation and distribution in Nepal and the potential of the regional market with Minister Pun. The ministry said that the team was also interested in the possibility of a joint project of electricity and irrigation. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Novikov said that they will invest in a &lsquo;pilot project&rsquo; and encourage both the private sector and the government to invest in Nepal by alaysing the market situation. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Minister Pun had projected that 10,000 MW of electricity would be consumed in Nepal&#39;s internal market in the next 10 years. He informed that the surplus electricity will be exported to India and Bangladesh and power purchase &nbsp;agreement has been already signed with India and Bangladesh regarding this. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We are ready for the modality which you find most convenient, we welcome it,&rdquo; Minister Pun said to the delegation, adding, &ldquo;We are okay if you find a market on your own otherwise we can also help arrange a market.&rdquo; </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '12526',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12778',
			'article_category_id' => '1',
			'title' => 'Use of QR Code for Payment Increasing',
			'sub_title' => 'NRB preparing to make it more organized',
			'summary' => 'December 9: The use of QR codes for payment has increased significantly in the market in recent days.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">December 9: The use of QR codes for payment has increased significantly in the market in recent days. As marketplaces are now using new devices to replace cash as means of payment, the frequency of payment through QR code has increased.</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:Calibri">Nepal Rastra Bank (NRB) reported that an additional 85,975 transactions worth Rs 321 million took place through QR code during the last month compared to the previous month. In mid-September to mid-October, customers made 265,000 transactions worth Rs 969 million using the code system. In mid-August to mid-September, altogether 179,000 transactions worth Rs 64.8 billion were reported in the country.</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:Calibri">Nepal Rastra Bank (NRB) is preparing to make the payment more systematic and uniform, as the payment from QR code has been increasing lately. The NRB is a statement informed that it is preparing to maintain QR code more systematically with the increase in transactions.</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:Calibri">The central bank is going to make more arrangements based on international standards. According to the central bank, international practice of QR code shows details including identifications of the customer and merchant, bank details, date and time of transaction mobile number the PSO operator and the three-page customer identification (KYC) of the person involved in the transaction.</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:Calibri">&ldquo;Such a scan should have the detailed information which should be on the server or all the details should be seen once scanned and found when we search. That is why we are trying to manage it,&rdquo; said an NRB source requesting anonymity.</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:Calibri">The QR code payment at present does not contain all this information.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2020-12-09',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12525',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12782',
			'article_category_id' => '1',
			'title' => 'Traffic Police Launch Special Campaign Against Motyorcycle Theft ',
			'sub_title' => '',
			'summary' => 'December 9: The Metropolitan Traffic Police Division (MTPD) has arrested 14 persons involved in stealing motorcycles from different parts of Kathmandu Valley in the current fiscal year. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 9: The Metropolitan Traffic Police Division (MTPD) has arrested 14 persons involved in stealing motorcycles from different parts of Kathmandu Valley in the current fiscal year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According the division, it has started a special campaign to search for stolen motorcycles and to bust the gang of people involved in this activity. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The MTPD said in a statement on Tuesday (December 8) that it has already initiated action against those involved in stealing the motorcycles since a long time. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The traffic police division said it has recovered 85 stolen motorcycles from different areas of the valley and returned them to their rightful owners.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the division SSP Janak Bhattarai said that the police have started a special operation by deploying plain-clothes policemen to keep a watch on professional thieves who have been involved in this activity since a long time. He added that most of the motorcycles stolen in the capital have been found in villages outside the valley. Police have even mobilized informants in the villages to track stolen motorcycles, said SSP Bhattarai.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The traffic police division yesterday arrested 25-year-old Sujan Tamang of Kavre from Lalitpur&rsquo;s Dholahiti in possession with a stolen Pulsar 220 cc motorbike. According to the police, the bike was stolen from Setopul ten days ago.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Statistics show that theft of motorcycles parked in public places as well as isolated areas is rampant in Kathmandu. Police say that the use of additional lock and security system can prevent bikes from being stolen.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:16.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police investigation has revealed that the thieves often change the number plate or modify the parts of the stolen bikes so that the owners cannot recognize them.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-12-09',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12524',
			'image' => '20201209023911_MotorcycleTheft3.jpg',
			'article_date' => '2020-12-09 14:38:36',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12775',
			'article_category_id' => '236',
			'title' => 'Jagadamba Motors to Bring Int’l Car Brand Proton to Nepal',
			'sub_title' => '',
			'summary' => 'December 8: Proton, a Malaysian automobile company, has announced to launch its product in Nepal in the near future.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">December 8: Proton, a Malaysian automobile company, has announced to launch its product in Nepal in the near future. The company&rsquo;s most popular and highest selling model Proton Saga will roll on the streets of Nepal very soon, informed Jagdamba Motors, a sister concern of Shanker Group, and the exclusive distributor for Proton Motors in Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">A statement issued by Jagadamba Mortors says that Proton introduced its first car -- Proton Saga -- back in 1985. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;The year 2018 was a landmark year for Proton for it launched its first SUV Proton X70,&rdquo; added the statement.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">The statement further said that Proton has become even more enhanced technologically after its collaboration with Geely and Volvo. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri">&ldquo;Proton invests millions of dollars in Research and Development which has enabled it to stay in competition with giant automobile companies. Proton has continuously been applying new breakthrough technologies in design and engineering in order to introduce new features to its cars.&rdquo;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'image' => '20201208033507_2017_Proton_Saga_(BT)_1.3_Standard_4-door_sedan_(01)_(34209794061).jpg',
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	(int) 11 => array(
		'Article' => array(
			'id' => '12774',
			'article_category_id' => '1',
			'title' => '170 Hydropower Projects Unable to Sign PPA due to Flaw in Government Policy',
			'sub_title' => '',
			'summary' => 'December 8: Hydropower projects with capacity to generate around 7,000 megawatts of electricity have been denied permission to sign power purchase agreement (PPA) after the government blocked them from signing PPA stating that the quota of run-of-the river (ROR) hydroelectricity projects has reached its limit.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 8: Hydropower projects with capacity to generate around 7,000 megawatts of electricity have been denied permission to sign power purchase agreement (PPA) after the government blocked them from signing PPA stating that the quota of run-of-the river (ROR) hydroelectricity projects has reached its limit.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has denied permission for ROR hydropower projects to sign PPA under the &lsquo;take and pay&rsquo; scheme since the last one and a half years. As a result, a total of 170 private hydroelectricity projects with capacity to produce between 6000 to 7000 megawatts of electricity have not been able to sign PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government has stopped such projects from signing PPA under the pretext that the quota has reached its limit, it is still granting permission to new projects for conducting surveys.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data kept by the Department of Electricity Development, a total of 26 projects were granted permission for survey to develop 1691 MW of electricity during the last fiscal year while 5 such projects have been granted permission to survey the possibility of generating 88 MW of electricity in the current fiscal year. But the government has not allowed any of the completed projects to sign PPA since the last one and a half years.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned Nepal Electricity Authority (NEA) has refused to sign PPAs under the &lsquo;take and pay&rsquo; scheme with the private companies following instructions from the government. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has been giving permission for survey to the promoter companies without any hesitation. However, it has not signed any single deal with such projects to purchase electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This has left the promoters of the under-construction project worried. One of the promoters said that the government has been giving them license for survey only with the intention of collecting revenue. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of API Power Company Guru Prasad Neupane informed that around 170 projects have not been able to sign the PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;All of those projects have completed the required process. But they have not been able to strike the PPA,&rdquo; said Neupane, adding that two of the projects developed by API Power Company has also not been able to sign PPA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is not fair to give license to the projects but deny them the opportunity to sign PPA,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must take appropriate decision.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has set a target to develop 15,000 megawatts of electricity in 10&nbsp; years. That includes 30 percent from ROR projects, as per the government&rsquo;s concept. As per the government&rsquo;s target, ROR projects can supply only up to 4500 megawatts of electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">But the NEA has already initiated the process to purchase 6000 MW of electricity from ROR projects. However, the NEA has stopped signing PPA under take and pay scheme after the production of the ROR projects crossed the limit, says Ramji Bhandari, an official of NEA.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, chairman of the Independent Power Producers Association of Nepal (IPPAN) Krishna Acharya says that the NEA is still not clear about the PPA issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Energy minister and officials of NEA assure us that they will sign PPA with us. But the NEA does not implement it,&rdquo; said Acharya.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12776',
			'article_category_id' => '1',
			'title' => 'Nepal Railway Company Preparing for a Land Management Master Plan ',
			'sub_title' => '',
			'summary' => 'December 8: Nepal Railway Company Limited, which is back in operation after six years, has started focusing on commercial use of land in railway stations including Janakpur.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">December 8: Nepal Railway Company Limited, which is back in operation after six years, has started focusing on commercial use of land in railway stations including Janakpur.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company which was revived to operate the Janakpur-Jaynagar&nbsp;Railway is planning to take commercial advantage of the land it owns.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company informed that it will search and record the company&#39;s assets and determine how to use such assets for commercial purpose.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">The company informed that the former property of Amalekhgunj-Raxaul Railway will be used for suitable commercial use in the action plan of the current fiscal year 2077/78.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">According to the first quarterly progress report of the current fiscal year, the company has mentioned that the historical steam locomotives and the physical infrastructure of the railways will be preserved.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">Guru Bhattarai, general manager of the company, informed that preparations have been made to bring the lands used by various ministries and other public bodies in the name of the company. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Calibri">&ldquo;The company is preparing to make a master plan to consolidate all the assets in the name of the company as it has not been able to take full advantage of the assets worth billions of rupees,&rdquo; he added.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12773',
			'article_category_id' => '1',
			'title' => 'Traders Facing Hard Time to Pay Exorbitant Rent of Shopping Malls',
			'sub_title' => '',
			'summary' => 'December 8: Unable to pay the rent of shopping malls, traders have started looking for renting areas available at cheaper rates.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">December 8: Unable to pay the rent of shopping malls, traders have started looking for renting areas available at cheaper rates. Citing the coronavirus pandemic and the impact of the lockdown, the traders of big shopping malls have started looking for cheaper areas for conducting their businesses. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Due to the effect of the pandemic, the businesses of big shopping malls and supermarkets in the main business centers of Kathmandu have decreased by about 75 percent. The traders are hard hit by the expensive rent of the shopping malls and supermarkets. Therefore, they believe that leaving the shopping malls as soon as possible and finding a cheaper place to do their business would bring them some relief. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to the treasurer of the Federation of Nepalese Chamber of Commerce and Industry Sushma Mahara, some traders have abandoned their businesses while many have left malls and started looking for cheaper spaces available for rent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Even though the entire business was halted due to the six-month long lockdown, the traders were compelled to pay the rent. But there is still no business. We don&rsquo;t know for how long we have to do business in loss. So, the traders have no option than to leave the mall and look for cheap places to run their business,&rdquo; she said. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">According to Mahara, it is also the responsibility of the mall operators to support the traders and bear the burden of loss equally.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Due to various other facilities including car parking, the minimum rent inside the malls is Rs 50,000 to Rs 200,000. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:&quot;Times New Roman&quot;">Traders say it is unfortunate for them to flee the business due to their inability to pay high rent and to leave the place where they have been doing business for years. </span></span></span></p>
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		'Article' => array(
			'id' => '12772',
			'article_category_id' => '1',
			'title' => 'EU Acknowledges Efforts Made by Nepal in Relation to Aviation Safety',
			'sub_title' => '',
			'summary' => 'December 8: The European Union (EU) has applauded the Government of Nepal for its firm commitment to improve aviation safety mechanisms although the EU is yet to remove Nepal from aviation safety blacklist.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 8: The European Union (EU) has </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">applauded the Government of Nepal for its firm commitment to improve aviation safety mechanisms although the EU is yet to remove Nepal from aviation safety blacklist.</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:Arial">In a statement issued on the International Civil Aviation Day on December 7, the EU noted that </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">the European Commission is aware of the efforts that have been undertaken by Nepal, notably in regard to the new aviation legislation currently proposed to the Parliament. </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:Arial">&ldquo;It would be key for this legislation to be adopted by the Parliament and subsequently implemented. This would allow the Commission to advance with the process of eventually removing Nepal from the EU Air Safety List,&rdquo; said the statement.</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:Arial">According to the EU, the standard process for removal from the list specifically includes organising a technical meeting (in Brussels) with CAAN to review the progress made, organising a subsequent on-site visit to Nepal by DG MOVE, EASA, and air safety experts from member states, which is needed in order to make a determination about the effective implementation of the safety enhancements, and ienacting the eventual removal from the EU Air Safety List by way of a Commission proposal to be endorsed by the EU Air Safety Committee. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The EU had banned Nepal from flying to its member states in December 2013 and is yet the remove the country from the blacklist. The EU kept Nepal in the list due to increasing incidents of plane crashes in the country. Nepali airliners have not been able to conduct flights to European countries ever since the ban was imposed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A considerable number of people from European countries had lost their lives in five air crashes in Nepal between 2010 to 2012, after which the EU imposed the ban. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Altogether 18 airline companies of Nepal, including helicopter operators, have been blacklisted by EU.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Analysts believe that EU has shown interest to lift the ban on Nepal for its efforts made to airlift people stranded by coronavirus and also because the country has grounded Chinese aircraft. Although EU has not mentioned anything public regarding Nepal using Chinese aircraft, experts say it is one of the reasons for the delay in removing the country from the black list.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai expressed his belief that Nepal will soon be removed from the blacklist of EU as the country has made tremendous reforms to meet the air safety standards of EU.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He said that the government has presented a draft bill to the House of Representatives and all concerns raised by the EU will be addressed once the bill is endorsed by parliament.</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:Arial">Meanwhile, the statement added that the European Commission with the assistance of the European Union Aviation Safety Agency (EASA), will deliver concrete and demand driven technical assistance to the Civil Aviation Authority of Nepal in order to support Nepal&rsquo;s efforts to enhance the aviation safety oversight in Nepal.</span></span></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