December 8: The Inter Government Committee Meeting on Trade and Transshipment between Nepal and India concluded on Monday (December 7) with an understanding to step up efforts to curb unauthorized business in border…
December 8: The Inter Government Committee Meeting on Trade and Transshipment between Nepal and India concluded on Monday (December 7) with an understanding to step up efforts to curb unauthorized business in border…
December 7: Laxmi Premium Motors, the sole authorized importer and distributor for BMW cars in Nepal, has opened a new dealership at…
December 7: The Kakadbhitta-Inaruwa railway section of the East-West Electric Railway, whose contract was canceled due to a dispute, has not been listed in the first quarterly report of the current Fiscal Year (FY)…
December 7: The government has been claiming that Nepal’s foreign trade is improving as a result of surplus Balance of Payments due to decline in imports. However, the country’s domestic production is bot…
December 7: The condition of Nepal’s garment industry, which has been affected severely by the Covid-19 pandemic for a long time, has not improved yet.…
December 7: The Standing Committee meeting of the ruling Nepal Communist Party (NCP) has been postponed by a week.…
December 7: The ruling Nepal Communist Party (NCP) has for the first time unveiled Nepal’s integrated foreign policy.…
December 6: The electronic cargo tracking system (ECTS), which was introduced to reduce the transportation cost of Nepal’s overseas trade, has ironically become the reason for price hike.…
December 6: Nabil Bank and One to Watch (OTW), an investment management company, have collaborated to provide interest-free and collateral-free loans to MSMEs under OTW COVID-19 MSME Fund…
December 6: Finance Minister Bishnu Poudel has directed government officials to effectively implement the programmes and policies of the current fiscal year…
December 6: The construction of 456 MW Upper Tamakoshi Hydropower Project has slowed down and the production has also become uncertain as the Indian contractor Texmaya has not been able to transport penstock expansion joint and dismantle box from Kolkata on time.…
December 6: Nepal and India have concluded a Joint secretary-level inter-governmental sub-committee meeting on trade and transshipment between the two…
December 6: Commercial banks will be charging fee for inter-bank transaction using ATM cards from now…
December 4: The eighth secretary-level meeting for the implementation of the Power Trade Agreement (PTA) between Nepal and India is scheduled to be held next week.…
December 4: Standard Chartered Bank Nepal has said that the bank has been reaffirmed with the issuer rating of AAA by ICRA Nepal, the first credit rating agency of the…
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Both sides pledged to ban illegal businesses within their jurisdiction in border areas. Nepal and India also agreed to set up modern infrastructure at customs points to discourage illegal trade and business, informed Urmila KC, deputy spokesperson at the Ministry of Industry, Commerce and Supplies.</span></span></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 Unicode MS"">“Both sides made commitment to curb illegal businesses in their respective areas,” said KC.</span></span></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 Unicode MS"">Last week, Indian businessmen and entrepreneurs had met with India’s Industry and Commerce Minister Piyush Goyal and urged him to regulate unauthorized entry of Nepali goods.</span></span></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 Unicode MS"">They had informed the minister that the Indian businesses were on the verge of collapse due to the government’s failure in regulating import of goods, especially edible oil from Nepal. Minister Goyal had assured the Indian businessmen to resolve their problem.</span></span></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 Unicode MS"">Secretary at the Ministry of Industry, Commerce and Supplies Dr Baikuntha Aryal, his Indian counterpart Anup Badhwa and Indian ambassador to Nepal Binaya Mohan Kwatra had attended Monday’s virtual meeting. Representatives of various ministries of both the countries were also present during the meeting.</span></span></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 Unicode MS"">The two sides also discussed trade between the two countries. Discussions were also held in topics like trade and transshipment treaty and its review, amendment of railway agreement, promoting investment and formation of joint commerce forum among other issues.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-08', 'modified' => '2020-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '12518', 'image' => '20201208114623_1607384966.Clipboard11.jpg', 'article_date' => '2020-12-08 11:45:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12769', 'article_category_id' => '236', 'title' => 'Laxmi Premium Motors establishes new BMW Dealership in Nepal.', 'sub_title' => '', 'summary' => 'December 7: Laxmi Premium Motors, the sole authorized importer and distributor for BMW cars in Nepal, has opened a new dealership at Tinkune.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">December 7: Laxmi Premium Motors, the sole authorized importer and distributor for BMW cars in Nepal, has opened a new dealership at Tinkune.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the company, the new dealership is spread over 10,165 sq ft area. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The company said in a statement that the dealership opened in partnering with BMW Asia and BMW Bangladesh serves as a key touchpoint for customers to engage with the brand. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“These are exciting times for BMW in Nepal as we partner with Laxmi Premium Motors to grow the brand’s presence in the country and offer our customers the dynamic, innovative and bold cars they have been looking for,” said Christopher Wehner, Managing Director of BMW Group Asia. “The team deserves special praises for their hard work in opening the dealership in these challenging times and we are confident they are ready to successfully tackle the luxury vehicle segment.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nirakar Shrestha, Executive Director of Laxmi Premium Motors said he was thrilled to bring “Sheer Driving Pleasure” to Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“Our customers are at the centre of everything we do and this is evident from the state-of-the-art features of this brand-new facility, to our dedicated team on the floor,” said Shrestha, adding, “As we embark on this new journey with our customers, it is important that we provide an inspiring and unforgettable experience from the moment they step into our dealership. The world of BMW awaits.” </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The statement further said that BMW customers can experience an engaging and interactive retail environment like never before with the exquisite customer lounge and eye-catching Isetta Bar to a welcoming four-car display and service area at the outlet.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">One key feature is the availability of contactless test drives, said the statement. According to the company, customers can express their interest for test drive via the Laxmi Premium Motors official website or phone call. The selected car will then be thoroughly sanitized and delivered to the customer’s preferred location at their convenience.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12517', 'image' => '20201207044439_BMW-1055.jpg', 'article_date' => '2020-12-07 16:43:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12768', 'article_category_id' => '1', 'title' => 'Kakadbhitta-Inaruwa Railway Not Included in First Quarterly Report of Current FY ', 'sub_title' => '', 'summary' => 'December 7: The Kakadbhitta-Inaruwa railway section of the East-West Electric Railway, whose contract was canceled due to a dispute, has not been listed in the first quarterly report of the current Fiscal Year (FY) 2077/78.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">December 7: The Kakadbhitta-Inaruwa railway section of the East-West Electric Railway, whose contract was canceled due to a dispute, has not been listed in the first quarterly report of the current Fiscal Year (FY) 2077/78.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The first quarterly progress report of the Railway Department does not mention any issue regarding this section. However, officials of the department have informed New Business Age that they are preparing to issue a tender for the disputed section again.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The department previously had canceled the contract on September 8, 2020 after receiving criticism that it was preparing to award the contract to a limited construction companies on June 29 and 30.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS""> However, the department has not even included this issue in its first quarterly report. Similarly, the expenditure and physical progress of the project has been weak in the first four months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">According to the report received from the Ministry of Physical Infrastructure and Transport, the targeted budget, and the physical progress of the project have been found to be poor in the review period. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The department had set a target to spend Rs 3 billion 620 million for the project in the first four months out of which the project was able to spend only Rs 1.12 billion. The total budget of the department for this year is Rs 8.66 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12516', 'image' => '20201207043210_1607297515.Clipboard07.jpg', 'article_date' => '2020-12-07 16:31:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12767', 'article_category_id' => '1', 'title' => 'Domestic Production of Nepal Declining', 'sub_title' => '', 'summary' => 'December 7: The government has been claiming that Nepal’s foreign trade is improving as a result of surplus Balance of Payments due to decline in imports. However, the country’s domestic production is bot satisfactory.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 7: The government has been claiming that Nepal’s foreign trade is improving as a result of surplus Balance of Payments due to decline in imports. However, the country’s domestic production is bot satisfactory.</span></span></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 Unicode MS"">Domestic products taking the market instead of imported goods is considered as a good sign of economy. However, industrialists and entrepreneurs are not ready to buy the idea that Nepal’s foreign trade is improving because the production and demand both had shrunk in the country. The government’s data shows that the import of raw materials required for industries has gone down in the recent days. Stakeholders of the private sector say that the import of such materials has declined due to coronavirus pandemic and the 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:"Arial Unicode MS"">The import of major raw materials required for industries has declined at Birgunj customs point in the first four months of the current fiscal year. Birgunj is not just the main transit point but also a major industrial hub. The construction and food processing industries in this corridor import raw materials through this customs point.</span></span></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 Unicode MS"">The import of iron from this entry point has declined by almost half during the review period. The country had imported 359,000 metric tons of iron during the corresponding period of last fiscal year. However, the import of iron dropped to 185,000 metric tons this year, says customs officer Jagdish Purbe.</span></span></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 Unicode MS"">The import of raw materials through the Integrated Check Post (ICP) of Birgunj has also declined. Nepali importers had imported 48,495 metric tons of billet during the first four months of last fiscal year but the import this year dropped by 28 percent to 34,682 metric tons, says customs officer Ramesh Sukhmani.</span></span></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 Unicode MS"">The local importers of Nepal have placed less demand due to rise in price of billet in 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 Unicode MS"">The price of iron rods has skyrocketed due to the increase in price of raw materials, says industrialist Rajesh Kyal.</span></span></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 Unicode MS"">“The price of iron rods has increased due to the rise in price of raw materials. In the meantime, the demand has declined,” says Kyal.</span></span></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 Unicode MS"">The demand for cement has also declined says industrialist Saneeep Agrawal. He says that the price and production of cement both have declined due to the low demand. The producers say that the price of cement has dropped by Rs 180 to Rs 230 oer sack.</span></span></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 Unicode MS"">Likewise, the import of clinker has also taken a nosedive.</span></span></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 Unicode MS"">The ICP officials said that clinker has not fallen among the top 20 imports of Nepal 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:"Arial Unicode MS"">Although it is said that the import of clinker has declined due to the production within the country, many industries are operating at below 50 percent capacity.</span></span></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 Unicode MS"">Similarly, the import of raw materials of food processing industries has also declined.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12515', 'image' => '20201207020738_1607297572.Clipboard05.jpg', 'article_date' => '2020-12-07 14:07:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12770', 'article_category_id' => '1', 'title' => 'Nepal’s Garment Industry in Trouble', 'sub_title' => '', 'summary' => 'December 7: The condition of Nepal’s garment industry, which has been affected severely by the Covid-19 pandemic for a long time, has not improved yet. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">December 7: The condition of Nepal’s garment industry, which has been affected severely by the Covid-19 pandemic for a long time, has not improved yet. The impact of the pandemic has reduced the production capacity of the garment industry and there have been no signs of improvement in problems faced during export. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Earlier, when the government restricted international flights to reduce the impact of coronavrius, garment manufacturers and businessmen were exporting goods even though they had to pay four times more transportation fare. Entrepreneurs say they are still suffering because the situation has not improved. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Entrepreneurs who exported clothes at high fares for the winter season in September and October were hoping of a reduction in fares while bringing clothes for the summer. However, the problem remains the same. The garment industry is currently producing and exporting clothes for the summer season. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Ashok Agrawal, general secretary of the Garment Association of Nepal, said that the entrepreneurs are facing many problems in export due to high transportation charge. Under normal circumstances, exporters used to export garments by sea through the Kolkata port of India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, border tightening due to the coronavirus pandemic has been in force for a long time. Due to this, goods could not be sent via the sea route. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The businessmen say that even though there is not much hassles at the border for import, there is problem in exporting goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Therefore, businessmen are forced to export goods via courier these days. "There has been no change in the previous fares and the sea routes have not been opened. We cannot predict for how long this business will have to face such a situation," Agrawal said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12514', 'image' => '20201207045155_20200901114856_1598909272.4.jpg', 'article_date' => '2020-12-07 16:51:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12766', 'article_category_id' => '1', 'title' => 'NCP Meeting Postponed by a Week', 'sub_title' => '', 'summary' => 'December 7: The Standing Committee meeting of the ruling Nepal Communist Party (NCP) has been postponed by a week. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 7: The Standing Committee meeting of the ruling Nepal Communist Party (NCP) has been postponed by a week. The meeting which was called for Sunday (December 6) at the party headquarters in Dhumbarahi has been pushed back by a week for next Sunday (December 13).</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Reports prepared by Prime Minister KP Sharma Oli and Executive Chairman Pushpa Kamal Dahal were presented at the meeting. The meeting was postponed to study the reports. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Prime Minister Oli, who is also the chairman of the party, did not attend Sunday’s meeting. He sent a message to the leaders present at the meeting informing them that he will not be able to attend the meeting which was scheduled to discuss the report blaming him of taking the party on the verge of split. Deputy Prime Minister Ishwar Pokharel had conveyed Oli’s message during the meeting.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Although Oli remained absent, another chairman Dahal chaired the meeting, which decided to study the reports of the two chairmen.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">PM Oli said that the party has been facing problems because his rivals want to take his place even though he has already pledged to step down from the party leadership after the next convention of the party. He also accused his opponents of not being patient enough to wait for the people’s mandate.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12513', 'image' => '20201207010810_images.jpg', 'article_date' => '2020-12-07 13:07:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12765', 'article_category_id' => '1', 'title' => 'Government Unveils Integrated Foreign Policy', 'sub_title' => '', 'summary' => 'December 7: The ruling Nepal Communist Party (NCP) has for the first time unveiled Nepal’s integrated foreign policy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">December 7: The ruling Nepal Communist Party (NCP) has for the first time unveiled Nepal’s integrated foreign policy. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The Nepal Foreign Policy 2077 made public by the government on Sunday (December 6) strives to promote national interest by maintaining smooth relations with foreign countries based on a balanced and independent approach for mutual benefit.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The integrated policy also aims to develop mutually beneficial bilateral relations with neighbouring countries by respecting each others independence.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Speaking at a function to unveil the </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> policy, Foreign Minister Pradeep Gyawali said that Nepal has adopted a policy to recognize all countries as friendly nations. He said that Nepal will not consider any country as enemy state. He also clarified that the government will have a balanced approach towards any country and will not lean toward any particular country or ignore others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">He also added that the </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> foreign policy has given continuity to Nepal’s non-alignment movement, which the country has been following since a long time. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> foreign policy, which according to the government is independent and balanced, strives for mutual benefits and is based on respecting each other.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The foreign policy has also included issues to protect the rights of Nepali nationals working in foreign countries, informed Minister Gyawali.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12512', 'image' => '20201207123126_1607297631.pradip.jpg', 'article_date' => '2020-12-07 12:30:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12764', 'article_category_id' => '1', 'title' => 'There is no Need for Electronic Cargo Transport System: Importers', 'sub_title' => '', 'summary' => 'December 6: The electronic cargo tracking system (ECTS), which was introduced to reduce the transportation cost of Nepal’s overseas trade, has ironically become the reason for price hike. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The electronic cargo tracking system (ECTS), which was introduced to reduce the transportation cost of Nepal’s overseas trade, has ironically become the reason for price hike. </span></span></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 Unicode MS"">Government authorities had implemented the ECTS while implementing the transshipment system to remove paperworks at Kolkata and Visakhapatman ports of 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 Unicode MS"">The ECTS was implemented on cargo containers transported through railways in order to prevent misuse of goods brought from overseas. Although this system, which uses GPS tracking, was launched to facilitate transport of goods, it has become the reason for transportation cost to shoot up.</span></span></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 Unicode MS"">The ECTS is fixed on containers loaded on trains from the sea ports of India to track their location. But Nepali importers say that the location of the cargo containers can be obtained from the website of Container Corporation of India Limited (CONCOR) even without the use of ECTS.</span></span></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 Unicode MS"">Importer Suresh Rungata says the ECTS has become a means for the transporter company to charge fare arbitrarily. </span></span></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 Unicode MS"">“There is no need of ECTS in rail route because the containers can be tracked from CONCOR’s website, which is authorized to transport the goods through the railway route,” says Rungata.</span></span></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 Unicode MS"">The ECTS was introduced to remove paper work at Indian ports. This system was expected to reduce the transportation cost by 50 percent. Although the paper works have been removed, the transportation cost has increased by 50 percent instead.</span></span></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 Unicode MS"">The company authorized to transport the goods charges IRs 3,400 per container. Although the status of the containers can be obtained from the website, the company has been charging fare for every container. Nepali importers complain that this provision has needlessly increased the transportation cost </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12511', 'image' => '20201206033259_1607211452.Clipboard16.jpg', 'article_date' => '2020-12-06 15:32:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12763', 'article_category_id' => '266', 'title' => 'Nabil Bank and One to Watch Collaborate to Support MSMEs in Nepal', 'sub_title' => '', 'summary' => 'December 6: Nabil Bank and One to Watch (OTW), an investment management company, have collaborated to provide interest-free and collateral-free loans to MSMEs under OTW COVID-19 MSME Fund Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">December 6: Nabil Bank and One to Watch (OTW), an investment management company, have collaborated to provide interest-free and collateral-free loans to MSMEs under OTW COVID-19 MSME Fund Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Under this strategic partnership, Micro, Small and Medium Enterprises (MSMEs) with the potential to return to revenue against the COVID-19 induced recession shall be benefited by the collateral-free and interest-free loan to meet their short-term working capital and help them survive through the hardships and restrictions presented by COVID-19, reads a statement issued by the bank. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Apart from the loan, enterprises shall also receive technical assistance in the form of customized business advisory/development services enabling them to preserve business continuity and build resilience. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">According to Nabil Bank, MSMEs evaluated to have the potential to bounce back based on a pre-determined set of criteria shall get collateral-free loan from the bank and the interest amount shall be paid by the fund for a maximum period of 18 months. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Sujit Kumar Shakya, deputy CEO of Nabil Bank and Suman Joshi, managing director of One to Watch, signed the agreement amid a recent programme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Speaking about the partnership, Anil Keshary Shah, CEO of Nabil Bank said, “Nabil Bank is always ready to support the MSME sector in Nepal, to help grow their businesses and surge ahead for long-term stability and overall economic growth of the country. We are very excited to collaborate with One to Watch in this effort to provide interest-free and collateral-free working capital loans to MSMEs affected by COVID-19 to assist in their survival through these tough times, enabling them to retain their teams and sustain their businesses. Nabil Bank continues to be focused on promoting the MSME segment by bringing products and services that enable ease of access to finance to small entrepreneurs and businesses in this segment.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12510', 'image' => '20201206033156_cottage-industry-basking-making 2.jpg', 'article_date' => '2020-12-06 15:31:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12762', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs Government Officials to Effectively Implement Budget', 'sub_title' => '', 'summary' => 'December 6: Finance Minister Bishnu Poudel has directed government officials to effectively implement the programmes and policies of the current fiscal year 2020/21.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Finance Minister Bishnu Poudel has directed government officials to effectively implement the programmes and policies of the current fiscal year 2020/21.</span></span></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 Unicode MS"">Pointing out to the fact that the government has not been able to spend capital expenditure, collect revenue and implement the programmes included in the budget properly in the first quarter of the current fiscal year, he instructed the government officials to improve their work performance for effective implementation of the programmes.</span></span></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 Unicode MS"">Speaking at a meeting organised at the ministry after reviewing the works done in the first quarter, Minister Poudel told the concerned authorities to resolve the problems related to budget implementation at the departmental level as far as it is possible.</span></span></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 Unicode MS"">He also pledged to ensure that there will be no problem in resource management and coordination for the implementation of budget.</span></span></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 Unicode MS"">“Please set a deadline and complete the works related to the programmes and policies of the government on time,” said Minister Poudel.</span></span></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 Unicode MS"">He also directed the departmental heads to clear all the arrears within the deadline. Stating that the government has already endorsed the work procedure to provide concessional loan for economic revival, he stressed on effective implementation of the programmes to that the targeted groups benefit from the scheme.</span></span></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 Unicode MS"">Finance Minister Poudel had recently summoned officials from all the ministries and sought details of budget implementation and their current status.</span></span></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 Unicode MS"">Meanwhile, Governor of Nepal Rastra Bank Maha Prasad Adhikari said during the recent meeting that the central bank has been making efforts to effectively implement the financial policies of the government. He said that the central bank has already instructed commercial banks to provide concessional loans to the targeted groups.</span></span></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 Unicode MS"">Meanwhile, Vice Chairman of the National Planning Commission Pushpa Kandel said that the government has been pushing for new projects at a time when old projects have not been able to complete. He also said that the government must pay special attention to discourage such trend.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12509', 'image' => '20201206024335_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2020-12-06 14:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12761', 'article_category_id' => '1', 'title' => 'Equipment Required for Upper Tamakoshi Hydel yet to Arrive ', 'sub_title' => '', 'summary' => 'December 6: The construction of 456 MW Upper Tamakoshi Hydropower Project has slowed down and the production has also become uncertain as the Indian contractor Texmaya has not been able to transport penstock expansion joint and dismantle box from Kolkata on time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">December 6: The construction of 456 MW Upper Tamakoshi Hydropower Project has slowed down and the production has also become uncertain as the Indian contractor Texmaya has not been able to transport penstock expansion joint and dismantle box from Kolkata on time. </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:"Times New Roman"">Chief Executive Officer of the Upper Tamakoshi Hydropower Project, Bigyan Prasad Shrestha said that it is not possible to set a date for the test. Project spokesperson Dr Ganesh Neupane said that the project is urging the suppliers to bring expansion joints and disposable boxes from Kolkata. </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:"Times New Roman"">Neupane further said that if the expansion joints and disposable boxes and other necessary equipment are transported, the project's desender, tunnel and other structures can be tested from mid-February. He said that it is possible to fix the date for power generation test only after testing the tunnel and penstock of the project. </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:"Times New Roman"">Meanwhile<strong>, </strong>the tower at Putung of Kalinchok Rural Municipality that was constructed for the transmission of electricity generated from the project has been damaged. The project claims that the tower was damaged due to the structure of the land. According to the project office, experts are studying on where to reconstruct the tower. Spokesperson Neupane said that the construction of the tower will be started after receiving suggestions from the experts. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The multi-circuit tower not built yet due to land dispute</span></span></strong> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The multi-circuit tower at Shahare, Tamakoshi Rural Municipality has not been built yet due to the land dispute. </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:"Times New Roman"">The project stated that the construction of the tower could not happen because the locals are obstructing the construction as the Nepal Electricity Authority has not provided compensation so far. However, Neupane claims that even though the tower has not been constructed, a short-term alternative has been sought for the transmission of electricity generated from the Upper Tamakoshi Hydropower Project. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12508', 'image' => '20201206012152_1607211371.Clipboard13.jpg', 'article_date' => '2020-12-06 13:20:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12760', 'article_category_id' => '1', 'title' => 'Secretaries of Nepal and India to Discuss Transshipment Treaty Tomorrow', 'sub_title' => '', 'summary' => 'December 6: Nepal and India have concluded a Joint secretary-level inter-governmental sub-committee meeting on trade and transshipment between the two countries.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Nepal and India have concluded a Joint secretary-level inter-governmental sub-committee meeting on trade and transshipment between the two countries.</span></span></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 Unicode MS"">During the virtual meeting held on Thursday and Friday (December 3-4), the two sides reviewed trade and business between the two countries and also agreed to conduct a study on trade route between Nepal and India. The two countries also agreed to develop necessary infrastructure on border transit 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:"Arial Unicode MS"">Participants of the meeting also floated the proposal of facilitating trade between Nepal and India in accordance to the South Asia Free Trade Agreement (SAFTA). </span></span></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 Unicode MS"">During the meeting attended by joint secretaries of the two countries, Nepal and India also discussed about the expansion of Indian herbal products (Ayruvedic products) in the Nepali market. The two sides also discussed about resolving the problems that have surfaced in trans-border trade between Nepal and 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 Unicode MS"">The Nepalese side also demanded health certificate for the animals that enter Nepal for meat processing industries.</span></span></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 Unicode MS"">Joint Secretary at the Ministry of Industry, Commerce and Supplies Urmila KC informed New Business Age that the Nepali side proposed during the meeting to study additional trade routes between Nepal and 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 Unicode MS"">A secretarial-level meeting will be held on Monday (December 7) based on the understanding reached during last weeks meeting.</span></span></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 Unicode MS"">An official of the ministry said that the two countries will discuss about reviewing the transshipment treaty between Nepal and India during the upcoming secretary-level meeting.</span></span></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 Unicode MS"">Last year, the two countries had formulated a draft of the transshipment treaty. The two sides will discuss the flaws of the proposed treaty and make necessary amendments before the new treaty gets endorsed by the ministers of the two countries by upcoming summer. It has been learnt that Monday’s meeting will fix the date for signing the treaty.</span></span></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 Unicode MS"">Once the new transshipment treaty comes into force, Nepal will be able to conduct trade with third countries using waterways. Nepal will also be able to use two more ports of India – Dhamra of Orissa and Mundra of Gujrat – for overseas trade.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12507', 'image' => '20201206110215_Flag-Pins-India-Nepal.jpg', 'article_date' => '2020-12-06 11:01:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12759', 'article_category_id' => '1', 'title' => 'Banks to Charge Customers for Inter-Bank Transaction using ATM Cards', 'sub_title' => '', 'summary' => 'December 6: Commercial banks will be charging fee for inter-bank transaction using ATM cards from now onwards.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Commercial banks will be charging fee for inter-bank transaction using ATM cards from now onwards.</span></span></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 Unicode MS"">Nepal Rastra Bank had earlier instructed banks not to charge any fee for inter-bank transaction using ATM fees to facilitate customers during the lockdown period. </span></span></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 Unicode MS"">That decision has been recently revoked by the central bank after reviewing the monetary policy for the current fiscal year. It means that the customers using ATM cards for withdrawing money from other banks will now have to pay charges.</span></span></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 Unicode MS"">Nepal Rastra Bank has already instructed banks to proceed with the their regular business in this regard.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12506', 'image' => '20201206104023_1607065986.Bank-ATM.jpg', 'article_date' => '2020-12-06 10:39:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12758', 'article_category_id' => '1', 'title' => 'Secretary-Level Meeting on Energy to be held Next Week', 'sub_title' => '', 'summary' => 'December 4: The eighth secretary-level meeting for the implementation of the Power Trade Agreement (PTA) between Nepal and India is scheduled to be held next week. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">December 4: The eighth secretary-level meeting for the implementation of the Power Trade Agreement (PTA) between Nepal and India is scheduled to be held next week. The meeting is scheduled to be held on Thursday and Friday (December 10 and 11) through virtual medium.</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">An electricity trade agreement was signed between Nepal and India in October 2014. Nepal-India Secretary-level meeting has been held every year for the implementation of the PTA. After signing the PTA, the two countries have been holding meetings alternately.</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">Prior to this, the meeting was held on October 26, 2019 in Bangalore, India. This time it is Nepal's turn to organize the meeting. The Ministry of Energy, Water Resources, and Irrigation informed that the meeting will be held virtually due to Covid-19 pandemic.</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">Energy Secretary of the Government of Nepal Dinesh Ghimire informed that a secretary-level meeting will be held next week. He informed that works are underway to formulate the agenda to be presented at the meeting and necessary preparations are being made.</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">Last year's meeting had decided to build the New Butwal-New Gorakhpur Second Interstate Transmission Line (400 KV) with equal investment from both the countries.</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 Bangalore meeting also approved the detailed project report of two more inter-country transmission lines - Inaruwa-Purnia and Lamki-Bareilly - between the two countries. The investment structure of these two transmission lines will be decided in the coming meeting.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-04', 'modified' => '2020-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '12505', 'image' => '20201204033300_Classification-of-Overhead-Transmission-lines-1.jpg', 'article_date' => '2020-12-04 15:32:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12757', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank Nepal reaffirmed with AAA Rating', 'sub_title' => '', 'summary' => 'December 4: Standard Chartered Bank Nepal has said that the bank has been reaffirmed with the issuer rating of AAA by ICRA Nepal, the first credit rating agency of the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 4: Standard Chartered Bank Nepal has said that the bank has been reaffirmed with the issuer rating of AAA by ICRA Nepal, the first credit rating agency of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The rating is considered to have the highest degree of safety regarding the timely servicing of financial obligations, the bank said in a statement. Such issuers carry the lowest credit risk. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the bank, this is the second year in a row that the Standard Chartered Nepal has received the coveted rating.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">“The rating reaffirmation continues to derive comfort from the bank’s established track record (operating since 1987) and robust risk management and underwriting practices, which are reflected in its ability to maintain a strong asset quality in recent quarters despite the impact of the Covid-19 pandemic,” ICRA Nepal stated.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">CEO of Standard Chartered Nepal, Anirvan Ghosh Dastidar said, “The reaffirmation of AAA rating is validation of our commitment towards our clients and all our stakeholders. We thank everyone for making this possible.”</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-04', 'modified' => '2020-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '12504', 'image' => '20201204021109_My Effect.jpg', 'article_date' => '2020-12-04 14:09:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12771', 'article_category_id' => '1', 'title' => 'Nepal-India Meeting on Trade and Transshipment Decides to Curb Unauthorized Business in Border Area', 'sub_title' => '', 'summary' => 'December 8: The Inter Government Committee Meeting on Trade and Transshipment between Nepal and India concluded on Monday (December 7) with an understanding to step up efforts to curb unauthorized business in border areas.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 8: The Inter Government Committee Meeting on Trade and Transshipment between Nepal and India concluded on Monday (December 7) with an understanding to step up efforts to curb unauthorized business in border areas.</span></span></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 Unicode MS"">The secretary-level meeting was held to discuss and endorse the agenda of an earlier meeting held on December 3-4.</span></span></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 Unicode MS"">Monday’s meeting decided to curb unauthorized business in border areas. Both sides pledged to ban illegal businesses within their jurisdiction in border areas. Nepal and India also agreed to set up modern infrastructure at customs points to discourage illegal trade and business, informed Urmila KC, deputy spokesperson at the Ministry of Industry, Commerce and Supplies.</span></span></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 Unicode MS"">“Both sides made commitment to curb illegal businesses in their respective areas,” said KC.</span></span></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 Unicode MS"">Last week, Indian businessmen and entrepreneurs had met with India’s Industry and Commerce Minister Piyush Goyal and urged him to regulate unauthorized entry of Nepali goods.</span></span></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 Unicode MS"">They had informed the minister that the Indian businesses were on the verge of collapse due to the government’s failure in regulating import of goods, especially edible oil from Nepal. Minister Goyal had assured the Indian businessmen to resolve their problem.</span></span></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 Unicode MS"">Secretary at the Ministry of Industry, Commerce and Supplies Dr Baikuntha Aryal, his Indian counterpart Anup Badhwa and Indian ambassador to Nepal Binaya Mohan Kwatra had attended Monday’s virtual meeting. Representatives of various ministries of both the countries were also present during the meeting.</span></span></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 Unicode MS"">The two sides also discussed trade between the two countries. Discussions were also held in topics like trade and transshipment treaty and its review, amendment of railway agreement, promoting investment and formation of joint commerce forum among other issues.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-08', 'modified' => '2020-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '12518', 'image' => '20201208114623_1607384966.Clipboard11.jpg', 'article_date' => '2020-12-08 11:45:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12769', 'article_category_id' => '236', 'title' => 'Laxmi Premium Motors establishes new BMW Dealership in Nepal.', 'sub_title' => '', 'summary' => 'December 7: Laxmi Premium Motors, the sole authorized importer and distributor for BMW cars in Nepal, has opened a new dealership at Tinkune.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">December 7: Laxmi Premium Motors, the sole authorized importer and distributor for BMW cars in Nepal, has opened a new dealership at Tinkune.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the company, the new dealership is spread over 10,165 sq ft area. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The company said in a statement that the dealership opened in partnering with BMW Asia and BMW Bangladesh serves as a key touchpoint for customers to engage with the brand. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“These are exciting times for BMW in Nepal as we partner with Laxmi Premium Motors to grow the brand’s presence in the country and offer our customers the dynamic, innovative and bold cars they have been looking for,” said Christopher Wehner, Managing Director of BMW Group Asia. “The team deserves special praises for their hard work in opening the dealership in these challenging times and we are confident they are ready to successfully tackle the luxury vehicle segment.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nirakar Shrestha, Executive Director of Laxmi Premium Motors said he was thrilled to bring “Sheer Driving Pleasure” to Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“Our customers are at the centre of everything we do and this is evident from the state-of-the-art features of this brand-new facility, to our dedicated team on the floor,” said Shrestha, adding, “As we embark on this new journey with our customers, it is important that we provide an inspiring and unforgettable experience from the moment they step into our dealership. The world of BMW awaits.” </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The statement further said that BMW customers can experience an engaging and interactive retail environment like never before with the exquisite customer lounge and eye-catching Isetta Bar to a welcoming four-car display and service area at the outlet.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">One key feature is the availability of contactless test drives, said the statement. According to the company, customers can express their interest for test drive via the Laxmi Premium Motors official website or phone call. The selected car will then be thoroughly sanitized and delivered to the customer’s preferred location at their convenience.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12517', 'image' => '20201207044439_BMW-1055.jpg', 'article_date' => '2020-12-07 16:43:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12768', 'article_category_id' => '1', 'title' => 'Kakadbhitta-Inaruwa Railway Not Included in First Quarterly Report of Current FY ', 'sub_title' => '', 'summary' => 'December 7: The Kakadbhitta-Inaruwa railway section of the East-West Electric Railway, whose contract was canceled due to a dispute, has not been listed in the first quarterly report of the current Fiscal Year (FY) 2077/78.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">December 7: The Kakadbhitta-Inaruwa railway section of the East-West Electric Railway, whose contract was canceled due to a dispute, has not been listed in the first quarterly report of the current Fiscal Year (FY) 2077/78.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The first quarterly progress report of the Railway Department does not mention any issue regarding this section. However, officials of the department have informed New Business Age that they are preparing to issue a tender for the disputed section again.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The department previously had canceled the contract on September 8, 2020 after receiving criticism that it was preparing to award the contract to a limited construction companies on June 29 and 30.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS""> However, the department has not even included this issue in its first quarterly report. Similarly, the expenditure and physical progress of the project has been weak in the first four months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">According to the report received from the Ministry of Physical Infrastructure and Transport, the targeted budget, and the physical progress of the project have been found to be poor in the review period. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The department had set a target to spend Rs 3 billion 620 million for the project in the first four months out of which the project was able to spend only Rs 1.12 billion. The total budget of the department for this year is Rs 8.66 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12516', 'image' => '20201207043210_1607297515.Clipboard07.jpg', 'article_date' => '2020-12-07 16:31:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12767', 'article_category_id' => '1', 'title' => 'Domestic Production of Nepal Declining', 'sub_title' => '', 'summary' => 'December 7: The government has been claiming that Nepal’s foreign trade is improving as a result of surplus Balance of Payments due to decline in imports. However, the country’s domestic production is bot satisfactory.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 7: The government has been claiming that Nepal’s foreign trade is improving as a result of surplus Balance of Payments due to decline in imports. However, the country’s domestic production is bot satisfactory.</span></span></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 Unicode MS"">Domestic products taking the market instead of imported goods is considered as a good sign of economy. However, industrialists and entrepreneurs are not ready to buy the idea that Nepal’s foreign trade is improving because the production and demand both had shrunk in the country. The government’s data shows that the import of raw materials required for industries has gone down in the recent days. Stakeholders of the private sector say that the import of such materials has declined due to coronavirus pandemic and the 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:"Arial Unicode MS"">The import of major raw materials required for industries has declined at Birgunj customs point in the first four months of the current fiscal year. Birgunj is not just the main transit point but also a major industrial hub. The construction and food processing industries in this corridor import raw materials through this customs point.</span></span></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 Unicode MS"">The import of iron from this entry point has declined by almost half during the review period. The country had imported 359,000 metric tons of iron during the corresponding period of last fiscal year. However, the import of iron dropped to 185,000 metric tons this year, says customs officer Jagdish Purbe.</span></span></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 Unicode MS"">The import of raw materials through the Integrated Check Post (ICP) of Birgunj has also declined. Nepali importers had imported 48,495 metric tons of billet during the first four months of last fiscal year but the import this year dropped by 28 percent to 34,682 metric tons, says customs officer Ramesh Sukhmani.</span></span></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 Unicode MS"">The local importers of Nepal have placed less demand due to rise in price of billet in 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 Unicode MS"">The price of iron rods has skyrocketed due to the increase in price of raw materials, says industrialist Rajesh Kyal.</span></span></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 Unicode MS"">“The price of iron rods has increased due to the rise in price of raw materials. In the meantime, the demand has declined,” says Kyal.</span></span></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 Unicode MS"">The demand for cement has also declined says industrialist Saneeep Agrawal. He says that the price and production of cement both have declined due to the low demand. The producers say that the price of cement has dropped by Rs 180 to Rs 230 oer sack.</span></span></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 Unicode MS"">Likewise, the import of clinker has also taken a nosedive.</span></span></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 Unicode MS"">The ICP officials said that clinker has not fallen among the top 20 imports of Nepal 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:"Arial Unicode MS"">Although it is said that the import of clinker has declined due to the production within the country, many industries are operating at below 50 percent capacity.</span></span></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 Unicode MS"">Similarly, the import of raw materials of food processing industries has also declined.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12515', 'image' => '20201207020738_1607297572.Clipboard05.jpg', 'article_date' => '2020-12-07 14:07:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12770', 'article_category_id' => '1', 'title' => 'Nepal’s Garment Industry in Trouble', 'sub_title' => '', 'summary' => 'December 7: The condition of Nepal’s garment industry, which has been affected severely by the Covid-19 pandemic for a long time, has not improved yet. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">December 7: The condition of Nepal’s garment industry, which has been affected severely by the Covid-19 pandemic for a long time, has not improved yet. The impact of the pandemic has reduced the production capacity of the garment industry and there have been no signs of improvement in problems faced during export. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Earlier, when the government restricted international flights to reduce the impact of coronavrius, garment manufacturers and businessmen were exporting goods even though they had to pay four times more transportation fare. Entrepreneurs say they are still suffering because the situation has not improved. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Entrepreneurs who exported clothes at high fares for the winter season in September and October were hoping of a reduction in fares while bringing clothes for the summer. However, the problem remains the same. The garment industry is currently producing and exporting clothes for the summer season. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Ashok Agrawal, general secretary of the Garment Association of Nepal, said that the entrepreneurs are facing many problems in export due to high transportation charge. Under normal circumstances, exporters used to export garments by sea through the Kolkata port of India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, border tightening due to the coronavirus pandemic has been in force for a long time. Due to this, goods could not be sent via the sea route. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The businessmen say that even though there is not much hassles at the border for import, there is problem in exporting goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Therefore, businessmen are forced to export goods via courier these days. "There has been no change in the previous fares and the sea routes have not been opened. We cannot predict for how long this business will have to face such a situation," Agrawal said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12514', 'image' => '20201207045155_20200901114856_1598909272.4.jpg', 'article_date' => '2020-12-07 16:51:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12766', 'article_category_id' => '1', 'title' => 'NCP Meeting Postponed by a Week', 'sub_title' => '', 'summary' => 'December 7: The Standing Committee meeting of the ruling Nepal Communist Party (NCP) has been postponed by a week. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 7: The Standing Committee meeting of the ruling Nepal Communist Party (NCP) has been postponed by a week. The meeting which was called for Sunday (December 6) at the party headquarters in Dhumbarahi has been pushed back by a week for next Sunday (December 13).</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Reports prepared by Prime Minister KP Sharma Oli and Executive Chairman Pushpa Kamal Dahal were presented at the meeting. The meeting was postponed to study the reports. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Prime Minister Oli, who is also the chairman of the party, did not attend Sunday’s meeting. He sent a message to the leaders present at the meeting informing them that he will not be able to attend the meeting which was scheduled to discuss the report blaming him of taking the party on the verge of split. Deputy Prime Minister Ishwar Pokharel had conveyed Oli’s message during the meeting.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Although Oli remained absent, another chairman Dahal chaired the meeting, which decided to study the reports of the two chairmen.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">PM Oli said that the party has been facing problems because his rivals want to take his place even though he has already pledged to step down from the party leadership after the next convention of the party. He also accused his opponents of not being patient enough to wait for the people’s mandate.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12513', 'image' => '20201207010810_images.jpg', 'article_date' => '2020-12-07 13:07:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12765', 'article_category_id' => '1', 'title' => 'Government Unveils Integrated Foreign Policy', 'sub_title' => '', 'summary' => 'December 7: The ruling Nepal Communist Party (NCP) has for the first time unveiled Nepal’s integrated foreign policy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">December 7: The ruling Nepal Communist Party (NCP) has for the first time unveiled Nepal’s integrated foreign policy. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The Nepal Foreign Policy 2077 made public by the government on Sunday (December 6) strives to promote national interest by maintaining smooth relations with foreign countries based on a balanced and independent approach for mutual benefit.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The integrated policy also aims to develop mutually beneficial bilateral relations with neighbouring countries by respecting each others independence.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Speaking at a function to unveil the </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> policy, Foreign Minister Pradeep Gyawali said that Nepal has adopted a policy to recognize all countries as friendly nations. He said that Nepal will not consider any country as enemy state. He also clarified that the government will have a balanced approach towards any country and will not lean toward any particular country or ignore others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">He also added that the </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> foreign policy has given continuity to Nepal’s non-alignment movement, which the country has been following since a long time. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> foreign policy, which according to the government is independent and balanced, strives for mutual benefits and is based on respecting each other.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The foreign policy has also included issues to protect the rights of Nepali nationals working in foreign countries, informed Minister Gyawali.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12512', 'image' => '20201207123126_1607297631.pradip.jpg', 'article_date' => '2020-12-07 12:30:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12764', 'article_category_id' => '1', 'title' => 'There is no Need for Electronic Cargo Transport System: Importers', 'sub_title' => '', 'summary' => 'December 6: The electronic cargo tracking system (ECTS), which was introduced to reduce the transportation cost of Nepal’s overseas trade, has ironically become the reason for price hike. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The electronic cargo tracking system (ECTS), which was introduced to reduce the transportation cost of Nepal’s overseas trade, has ironically become the reason for price hike. </span></span></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 Unicode MS"">Government authorities had implemented the ECTS while implementing the transshipment system to remove paperworks at Kolkata and Visakhapatman ports of 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 Unicode MS"">The ECTS was implemented on cargo containers transported through railways in order to prevent misuse of goods brought from overseas. Although this system, which uses GPS tracking, was launched to facilitate transport of goods, it has become the reason for transportation cost to shoot up.</span></span></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 Unicode MS"">The ECTS is fixed on containers loaded on trains from the sea ports of India to track their location. But Nepali importers say that the location of the cargo containers can be obtained from the website of Container Corporation of India Limited (CONCOR) even without the use of ECTS.</span></span></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 Unicode MS"">Importer Suresh Rungata says the ECTS has become a means for the transporter company to charge fare arbitrarily. </span></span></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 Unicode MS"">“There is no need of ECTS in rail route because the containers can be tracked from CONCOR’s website, which is authorized to transport the goods through the railway route,” says Rungata.</span></span></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 Unicode MS"">The ECTS was introduced to remove paper work at Indian ports. This system was expected to reduce the transportation cost by 50 percent. Although the paper works have been removed, the transportation cost has increased by 50 percent instead.</span></span></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 Unicode MS"">The company authorized to transport the goods charges IRs 3,400 per container. Although the status of the containers can be obtained from the website, the company has been charging fare for every container. Nepali importers complain that this provision has needlessly increased the transportation cost </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12511', 'image' => '20201206033259_1607211452.Clipboard16.jpg', 'article_date' => '2020-12-06 15:32:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12763', 'article_category_id' => '266', 'title' => 'Nabil Bank and One to Watch Collaborate to Support MSMEs in Nepal', 'sub_title' => '', 'summary' => 'December 6: Nabil Bank and One to Watch (OTW), an investment management company, have collaborated to provide interest-free and collateral-free loans to MSMEs under OTW COVID-19 MSME Fund Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">December 6: Nabil Bank and One to Watch (OTW), an investment management company, have collaborated to provide interest-free and collateral-free loans to MSMEs under OTW COVID-19 MSME Fund Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Under this strategic partnership, Micro, Small and Medium Enterprises (MSMEs) with the potential to return to revenue against the COVID-19 induced recession shall be benefited by the collateral-free and interest-free loan to meet their short-term working capital and help them survive through the hardships and restrictions presented by COVID-19, reads a statement issued by the bank. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Apart from the loan, enterprises shall also receive technical assistance in the form of customized business advisory/development services enabling them to preserve business continuity and build resilience. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">According to Nabil Bank, MSMEs evaluated to have the potential to bounce back based on a pre-determined set of criteria shall get collateral-free loan from the bank and the interest amount shall be paid by the fund for a maximum period of 18 months. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Sujit Kumar Shakya, deputy CEO of Nabil Bank and Suman Joshi, managing director of One to Watch, signed the agreement amid a recent programme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Speaking about the partnership, Anil Keshary Shah, CEO of Nabil Bank said, “Nabil Bank is always ready to support the MSME sector in Nepal, to help grow their businesses and surge ahead for long-term stability and overall economic growth of the country. We are very excited to collaborate with One to Watch in this effort to provide interest-free and collateral-free working capital loans to MSMEs affected by COVID-19 to assist in their survival through these tough times, enabling them to retain their teams and sustain their businesses. Nabil Bank continues to be focused on promoting the MSME segment by bringing products and services that enable ease of access to finance to small entrepreneurs and businesses in this segment.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12510', 'image' => '20201206033156_cottage-industry-basking-making 2.jpg', 'article_date' => '2020-12-06 15:31:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12762', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs Government Officials to Effectively Implement Budget', 'sub_title' => '', 'summary' => 'December 6: Finance Minister Bishnu Poudel has directed government officials to effectively implement the programmes and policies of the current fiscal year 2020/21.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Finance Minister Bishnu Poudel has directed government officials to effectively implement the programmes and policies of the current fiscal year 2020/21.</span></span></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 Unicode MS"">Pointing out to the fact that the government has not been able to spend capital expenditure, collect revenue and implement the programmes included in the budget properly in the first quarter of the current fiscal year, he instructed the government officials to improve their work performance for effective implementation of the programmes.</span></span></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 Unicode MS"">Speaking at a meeting organised at the ministry after reviewing the works done in the first quarter, Minister Poudel told the concerned authorities to resolve the problems related to budget implementation at the departmental level as far as it is possible.</span></span></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 Unicode MS"">He also pledged to ensure that there will be no problem in resource management and coordination for the implementation of budget.</span></span></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 Unicode MS"">“Please set a deadline and complete the works related to the programmes and policies of the government on time,” said Minister Poudel.</span></span></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 Unicode MS"">He also directed the departmental heads to clear all the arrears within the deadline. Stating that the government has already endorsed the work procedure to provide concessional loan for economic revival, he stressed on effective implementation of the programmes to that the targeted groups benefit from the scheme.</span></span></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 Unicode MS"">Finance Minister Poudel had recently summoned officials from all the ministries and sought details of budget implementation and their current status.</span></span></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 Unicode MS"">Meanwhile, Governor of Nepal Rastra Bank Maha Prasad Adhikari said during the recent meeting that the central bank has been making efforts to effectively implement the financial policies of the government. He said that the central bank has already instructed commercial banks to provide concessional loans to the targeted groups.</span></span></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 Unicode MS"">Meanwhile, Vice Chairman of the National Planning Commission Pushpa Kandel said that the government has been pushing for new projects at a time when old projects have not been able to complete. He also said that the government must pay special attention to discourage such trend.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12509', 'image' => '20201206024335_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2020-12-06 14:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12761', 'article_category_id' => '1', 'title' => 'Equipment Required for Upper Tamakoshi Hydel yet to Arrive ', 'sub_title' => '', 'summary' => 'December 6: The construction of 456 MW Upper Tamakoshi Hydropower Project has slowed down and the production has also become uncertain as the Indian contractor Texmaya has not been able to transport penstock expansion joint and dismantle box from Kolkata on time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">December 6: The construction of 456 MW Upper Tamakoshi Hydropower Project has slowed down and the production has also become uncertain as the Indian contractor Texmaya has not been able to transport penstock expansion joint and dismantle box from Kolkata on time. </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:"Times New Roman"">Chief Executive Officer of the Upper Tamakoshi Hydropower Project, Bigyan Prasad Shrestha said that it is not possible to set a date for the test. Project spokesperson Dr Ganesh Neupane said that the project is urging the suppliers to bring expansion joints and disposable boxes from Kolkata. </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:"Times New Roman"">Neupane further said that if the expansion joints and disposable boxes and other necessary equipment are transported, the project's desender, tunnel and other structures can be tested from mid-February. He said that it is possible to fix the date for power generation test only after testing the tunnel and penstock of the project. </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:"Times New Roman"">Meanwhile<strong>, </strong>the tower at Putung of Kalinchok Rural Municipality that was constructed for the transmission of electricity generated from the project has been damaged. The project claims that the tower was damaged due to the structure of the land. According to the project office, experts are studying on where to reconstruct the tower. Spokesperson Neupane said that the construction of the tower will be started after receiving suggestions from the experts. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The multi-circuit tower not built yet due to land dispute</span></span></strong> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The multi-circuit tower at Shahare, Tamakoshi Rural Municipality has not been built yet due to the land dispute. </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:"Times New Roman"">The project stated that the construction of the tower could not happen because the locals are obstructing the construction as the Nepal Electricity Authority has not provided compensation so far. However, Neupane claims that even though the tower has not been constructed, a short-term alternative has been sought for the transmission of electricity generated from the Upper Tamakoshi Hydropower Project. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12508', 'image' => '20201206012152_1607211371.Clipboard13.jpg', 'article_date' => '2020-12-06 13:20:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12760', 'article_category_id' => '1', 'title' => 'Secretaries of Nepal and India to Discuss Transshipment Treaty Tomorrow', 'sub_title' => '', 'summary' => 'December 6: Nepal and India have concluded a Joint secretary-level inter-governmental sub-committee meeting on trade and transshipment between the two countries.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Nepal and India have concluded a Joint secretary-level inter-governmental sub-committee meeting on trade and transshipment between the two countries.</span></span></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 Unicode MS"">During the virtual meeting held on Thursday and Friday (December 3-4), the two sides reviewed trade and business between the two countries and also agreed to conduct a study on trade route between Nepal and India. The two countries also agreed to develop necessary infrastructure on border transit 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:"Arial Unicode MS"">Participants of the meeting also floated the proposal of facilitating trade between Nepal and India in accordance to the South Asia Free Trade Agreement (SAFTA). </span></span></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 Unicode MS"">During the meeting attended by joint secretaries of the two countries, Nepal and India also discussed about the expansion of Indian herbal products (Ayruvedic products) in the Nepali market. The two sides also discussed about resolving the problems that have surfaced in trans-border trade between Nepal and 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 Unicode MS"">The Nepalese side also demanded health certificate for the animals that enter Nepal for meat processing industries.</span></span></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 Unicode MS"">Joint Secretary at the Ministry of Industry, Commerce and Supplies Urmila KC informed New Business Age that the Nepali side proposed during the meeting to study additional trade routes between Nepal and 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 Unicode MS"">A secretarial-level meeting will be held on Monday (December 7) based on the understanding reached during last weeks meeting.</span></span></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 Unicode MS"">An official of the ministry said that the two countries will discuss about reviewing the transshipment treaty between Nepal and India during the upcoming secretary-level meeting.</span></span></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 Unicode MS"">Last year, the two countries had formulated a draft of the transshipment treaty. The two sides will discuss the flaws of the proposed treaty and make necessary amendments before the new treaty gets endorsed by the ministers of the two countries by upcoming summer. It has been learnt that Monday’s meeting will fix the date for signing the treaty.</span></span></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 Unicode MS"">Once the new transshipment treaty comes into force, Nepal will be able to conduct trade with third countries using waterways. Nepal will also be able to use two more ports of India – Dhamra of Orissa and Mundra of Gujrat – for overseas trade.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12507', 'image' => '20201206110215_Flag-Pins-India-Nepal.jpg', 'article_date' => '2020-12-06 11:01:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12759', 'article_category_id' => '1', 'title' => 'Banks to Charge Customers for Inter-Bank Transaction using ATM Cards', 'sub_title' => '', 'summary' => 'December 6: Commercial banks will be charging fee for inter-bank transaction using ATM cards from now onwards.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Commercial banks will be charging fee for inter-bank transaction using ATM cards from now onwards.</span></span></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 Unicode MS"">Nepal Rastra Bank had earlier instructed banks not to charge any fee for inter-bank transaction using ATM fees to facilitate customers during the lockdown period. </span></span></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 Unicode MS"">That decision has been recently revoked by the central bank after reviewing the monetary policy for the current fiscal year. It means that the customers using ATM cards for withdrawing money from other banks will now have to pay charges.</span></span></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 Unicode MS"">Nepal Rastra Bank has already instructed banks to proceed with the their regular business in this regard.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12506', 'image' => '20201206104023_1607065986.Bank-ATM.jpg', 'article_date' => '2020-12-06 10:39:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12758', 'article_category_id' => '1', 'title' => 'Secretary-Level Meeting on Energy to be held Next Week', 'sub_title' => '', 'summary' => 'December 4: The eighth secretary-level meeting for the implementation of the Power Trade Agreement (PTA) between Nepal and India is scheduled to be held next week. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">December 4: The eighth secretary-level meeting for the implementation of the Power Trade Agreement (PTA) between Nepal and India is scheduled to be held next week. The meeting is scheduled to be held on Thursday and Friday (December 10 and 11) through virtual medium.</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">An electricity trade agreement was signed between Nepal and India in October 2014. Nepal-India Secretary-level meeting has been held every year for the implementation of the PTA. After signing the PTA, the two countries have been holding meetings alternately.</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">Prior to this, the meeting was held on October 26, 2019 in Bangalore, India. This time it is Nepal's turn to organize the meeting. The Ministry of Energy, Water Resources, and Irrigation informed that the meeting will be held virtually due to Covid-19 pandemic.</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">Energy Secretary of the Government of Nepal Dinesh Ghimire informed that a secretary-level meeting will be held next week. He informed that works are underway to formulate the agenda to be presented at the meeting and necessary preparations are being made.</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">Last year's meeting had decided to build the New Butwal-New Gorakhpur Second Interstate Transmission Line (400 KV) with equal investment from both the countries.</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 Bangalore meeting also approved the detailed project report of two more inter-country transmission lines - Inaruwa-Purnia and Lamki-Bareilly - between the two countries. The investment structure of these two transmission lines will be decided in the coming meeting.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-04', 'modified' => '2020-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '12505', 'image' => '20201204033300_Classification-of-Overhead-Transmission-lines-1.jpg', 'article_date' => '2020-12-04 15:32:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12757', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank Nepal reaffirmed with AAA Rating', 'sub_title' => '', 'summary' => 'December 4: Standard Chartered Bank Nepal has said that the bank has been reaffirmed with the issuer rating of AAA by ICRA Nepal, the first credit rating agency of the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 4: Standard Chartered Bank Nepal has said that the bank has been reaffirmed with the issuer rating of AAA by ICRA Nepal, the first credit rating agency of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The rating is considered to have the highest degree of safety regarding the timely servicing of financial obligations, the bank said in a statement. Such issuers carry the lowest credit risk. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the bank, this is the second year in a row that the Standard Chartered Nepal has received the coveted rating.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">“The rating reaffirmation continues to derive comfort from the bank’s established track record (operating since 1987) and robust risk management and underwriting practices, which are reflected in its ability to maintain a strong asset quality in recent quarters despite the impact of the Covid-19 pandemic,” ICRA Nepal stated.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">CEO of Standard Chartered Nepal, Anirvan Ghosh Dastidar said, “The reaffirmation of AAA rating is validation of our commitment towards our clients and all our stakeholders. We thank everyone for making this possible.”</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-04', 'modified' => '2020-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '12504', 'image' => '20201204021109_My Effect.jpg', 'article_date' => '2020-12-04 14:09:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12771', 'article_category_id' => '1', 'title' => 'Nepal-India Meeting on Trade and Transshipment Decides to Curb Unauthorized Business in Border Area', 'sub_title' => '', 'summary' => 'December 8: The Inter Government Committee Meeting on Trade and Transshipment between Nepal and India concluded on Monday (December 7) with an understanding to step up efforts to curb unauthorized business in border areas.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 8: The Inter Government Committee Meeting on Trade and Transshipment between Nepal and India concluded on Monday (December 7) with an understanding to step up efforts to curb unauthorized business in border areas.</span></span></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 Unicode MS"">The secretary-level meeting was held to discuss and endorse the agenda of an earlier meeting held on December 3-4.</span></span></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 Unicode MS"">Monday’s meeting decided to curb unauthorized business in border areas. Both sides pledged to ban illegal businesses within their jurisdiction in border areas. Nepal and India also agreed to set up modern infrastructure at customs points to discourage illegal trade and business, informed Urmila KC, deputy spokesperson at the Ministry of Industry, Commerce and Supplies.</span></span></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 Unicode MS"">“Both sides made commitment to curb illegal businesses in their respective areas,” said KC.</span></span></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 Unicode MS"">Last week, Indian businessmen and entrepreneurs had met with India’s Industry and Commerce Minister Piyush Goyal and urged him to regulate unauthorized entry of Nepali goods.</span></span></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 Unicode MS"">They had informed the minister that the Indian businesses were on the verge of collapse due to the government’s failure in regulating import of goods, especially edible oil from Nepal. Minister Goyal had assured the Indian businessmen to resolve their problem.</span></span></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 Unicode MS"">Secretary at the Ministry of Industry, Commerce and Supplies Dr Baikuntha Aryal, his Indian counterpart Anup Badhwa and Indian ambassador to Nepal Binaya Mohan Kwatra had attended Monday’s virtual meeting. Representatives of various ministries of both the countries were also present during the meeting.</span></span></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 Unicode MS"">The two sides also discussed trade between the two countries. Discussions were also held in topics like trade and transshipment treaty and its review, amendment of railway agreement, promoting investment and formation of joint commerce forum among other issues.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-08', 'modified' => '2020-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '12518', 'image' => '20201208114623_1607384966.Clipboard11.jpg', 'article_date' => '2020-12-08 11:45:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12769', 'article_category_id' => '236', 'title' => 'Laxmi Premium Motors establishes new BMW Dealership in Nepal.', 'sub_title' => '', 'summary' => 'December 7: Laxmi Premium Motors, the sole authorized importer and distributor for BMW cars in Nepal, has opened a new dealership at Tinkune.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">December 7: Laxmi Premium Motors, the sole authorized importer and distributor for BMW cars in Nepal, has opened a new dealership at Tinkune.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the company, the new dealership is spread over 10,165 sq ft area. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The company said in a statement that the dealership opened in partnering with BMW Asia and BMW Bangladesh serves as a key touchpoint for customers to engage with the brand. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“These are exciting times for BMW in Nepal as we partner with Laxmi Premium Motors to grow the brand’s presence in the country and offer our customers the dynamic, innovative and bold cars they have been looking for,” said Christopher Wehner, Managing Director of BMW Group Asia. “The team deserves special praises for their hard work in opening the dealership in these challenging times and we are confident they are ready to successfully tackle the luxury vehicle segment.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nirakar Shrestha, Executive Director of Laxmi Premium Motors said he was thrilled to bring “Sheer Driving Pleasure” to Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“Our customers are at the centre of everything we do and this is evident from the state-of-the-art features of this brand-new facility, to our dedicated team on the floor,” said Shrestha, adding, “As we embark on this new journey with our customers, it is important that we provide an inspiring and unforgettable experience from the moment they step into our dealership. The world of BMW awaits.” </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The statement further said that BMW customers can experience an engaging and interactive retail environment like never before with the exquisite customer lounge and eye-catching Isetta Bar to a welcoming four-car display and service area at the outlet.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">One key feature is the availability of contactless test drives, said the statement. According to the company, customers can express their interest for test drive via the Laxmi Premium Motors official website or phone call. The selected car will then be thoroughly sanitized and delivered to the customer’s preferred location at their convenience.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12517', 'image' => '20201207044439_BMW-1055.jpg', 'article_date' => '2020-12-07 16:43:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12768', 'article_category_id' => '1', 'title' => 'Kakadbhitta-Inaruwa Railway Not Included in First Quarterly Report of Current FY ', 'sub_title' => '', 'summary' => 'December 7: The Kakadbhitta-Inaruwa railway section of the East-West Electric Railway, whose contract was canceled due to a dispute, has not been listed in the first quarterly report of the current Fiscal Year (FY) 2077/78.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">December 7: The Kakadbhitta-Inaruwa railway section of the East-West Electric Railway, whose contract was canceled due to a dispute, has not been listed in the first quarterly report of the current Fiscal Year (FY) 2077/78.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The first quarterly progress report of the Railway Department does not mention any issue regarding this section. However, officials of the department have informed New Business Age that they are preparing to issue a tender for the disputed section again.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The department previously had canceled the contract on September 8, 2020 after receiving criticism that it was preparing to award the contract to a limited construction companies on June 29 and 30.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS""> However, the department has not even included this issue in its first quarterly report. Similarly, the expenditure and physical progress of the project has been weak in the first four months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">According to the report received from the Ministry of Physical Infrastructure and Transport, the targeted budget, and the physical progress of the project have been found to be poor in the review period. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The department had set a target to spend Rs 3 billion 620 million for the project in the first four months out of which the project was able to spend only Rs 1.12 billion. The total budget of the department for this year is Rs 8.66 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12516', 'image' => '20201207043210_1607297515.Clipboard07.jpg', 'article_date' => '2020-12-07 16:31:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12767', 'article_category_id' => '1', 'title' => 'Domestic Production of Nepal Declining', 'sub_title' => '', 'summary' => 'December 7: The government has been claiming that Nepal’s foreign trade is improving as a result of surplus Balance of Payments due to decline in imports. However, the country’s domestic production is bot satisfactory.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 7: The government has been claiming that Nepal’s foreign trade is improving as a result of surplus Balance of Payments due to decline in imports. However, the country’s domestic production is bot satisfactory.</span></span></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 Unicode MS"">Domestic products taking the market instead of imported goods is considered as a good sign of economy. However, industrialists and entrepreneurs are not ready to buy the idea that Nepal’s foreign trade is improving because the production and demand both had shrunk in the country. The government’s data shows that the import of raw materials required for industries has gone down in the recent days. Stakeholders of the private sector say that the import of such materials has declined due to coronavirus pandemic and the 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:"Arial Unicode MS"">The import of major raw materials required for industries has declined at Birgunj customs point in the first four months of the current fiscal year. Birgunj is not just the main transit point but also a major industrial hub. The construction and food processing industries in this corridor import raw materials through this customs point.</span></span></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 Unicode MS"">The import of iron from this entry point has declined by almost half during the review period. The country had imported 359,000 metric tons of iron during the corresponding period of last fiscal year. However, the import of iron dropped to 185,000 metric tons this year, says customs officer Jagdish Purbe.</span></span></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 Unicode MS"">The import of raw materials through the Integrated Check Post (ICP) of Birgunj has also declined. Nepali importers had imported 48,495 metric tons of billet during the first four months of last fiscal year but the import this year dropped by 28 percent to 34,682 metric tons, says customs officer Ramesh Sukhmani.</span></span></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 Unicode MS"">The local importers of Nepal have placed less demand due to rise in price of billet in 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 Unicode MS"">The price of iron rods has skyrocketed due to the increase in price of raw materials, says industrialist Rajesh Kyal.</span></span></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 Unicode MS"">“The price of iron rods has increased due to the rise in price of raw materials. In the meantime, the demand has declined,” says Kyal.</span></span></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 Unicode MS"">The demand for cement has also declined says industrialist Saneeep Agrawal. He says that the price and production of cement both have declined due to the low demand. The producers say that the price of cement has dropped by Rs 180 to Rs 230 oer sack.</span></span></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 Unicode MS"">Likewise, the import of clinker has also taken a nosedive.</span></span></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 Unicode MS"">The ICP officials said that clinker has not fallen among the top 20 imports of Nepal 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:"Arial Unicode MS"">Although it is said that the import of clinker has declined due to the production within the country, many industries are operating at below 50 percent capacity.</span></span></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 Unicode MS"">Similarly, the import of raw materials of food processing industries has also declined.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12515', 'image' => '20201207020738_1607297572.Clipboard05.jpg', 'article_date' => '2020-12-07 14:07:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12770', 'article_category_id' => '1', 'title' => 'Nepal’s Garment Industry in Trouble', 'sub_title' => '', 'summary' => 'December 7: The condition of Nepal’s garment industry, which has been affected severely by the Covid-19 pandemic for a long time, has not improved yet. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">December 7: The condition of Nepal’s garment industry, which has been affected severely by the Covid-19 pandemic for a long time, has not improved yet. The impact of the pandemic has reduced the production capacity of the garment industry and there have been no signs of improvement in problems faced during export. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Earlier, when the government restricted international flights to reduce the impact of coronavrius, garment manufacturers and businessmen were exporting goods even though they had to pay four times more transportation fare. Entrepreneurs say they are still suffering because the situation has not improved. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Entrepreneurs who exported clothes at high fares for the winter season in September and October were hoping of a reduction in fares while bringing clothes for the summer. However, the problem remains the same. The garment industry is currently producing and exporting clothes for the summer season. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Ashok Agrawal, general secretary of the Garment Association of Nepal, said that the entrepreneurs are facing many problems in export due to high transportation charge. Under normal circumstances, exporters used to export garments by sea through the Kolkata port of India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, border tightening due to the coronavirus pandemic has been in force for a long time. Due to this, goods could not be sent via the sea route. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The businessmen say that even though there is not much hassles at the border for import, there is problem in exporting goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Therefore, businessmen are forced to export goods via courier these days. "There has been no change in the previous fares and the sea routes have not been opened. We cannot predict for how long this business will have to face such a situation," Agrawal said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12514', 'image' => '20201207045155_20200901114856_1598909272.4.jpg', 'article_date' => '2020-12-07 16:51:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12766', 'article_category_id' => '1', 'title' => 'NCP Meeting Postponed by a Week', 'sub_title' => '', 'summary' => 'December 7: The Standing Committee meeting of the ruling Nepal Communist Party (NCP) has been postponed by a week. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 7: The Standing Committee meeting of the ruling Nepal Communist Party (NCP) has been postponed by a week. The meeting which was called for Sunday (December 6) at the party headquarters in Dhumbarahi has been pushed back by a week for next Sunday (December 13).</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Reports prepared by Prime Minister KP Sharma Oli and Executive Chairman Pushpa Kamal Dahal were presented at the meeting. The meeting was postponed to study the reports. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Prime Minister Oli, who is also the chairman of the party, did not attend Sunday’s meeting. He sent a message to the leaders present at the meeting informing them that he will not be able to attend the meeting which was scheduled to discuss the report blaming him of taking the party on the verge of split. Deputy Prime Minister Ishwar Pokharel had conveyed Oli’s message during the meeting.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Although Oli remained absent, another chairman Dahal chaired the meeting, which decided to study the reports of the two chairmen.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">PM Oli said that the party has been facing problems because his rivals want to take his place even though he has already pledged to step down from the party leadership after the next convention of the party. He also accused his opponents of not being patient enough to wait for the people’s mandate.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12513', 'image' => '20201207010810_images.jpg', 'article_date' => '2020-12-07 13:07:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12765', 'article_category_id' => '1', 'title' => 'Government Unveils Integrated Foreign Policy', 'sub_title' => '', 'summary' => 'December 7: The ruling Nepal Communist Party (NCP) has for the first time unveiled Nepal’s integrated foreign policy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">December 7: The ruling Nepal Communist Party (NCP) has for the first time unveiled Nepal’s integrated foreign policy. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The Nepal Foreign Policy 2077 made public by the government on Sunday (December 6) strives to promote national interest by maintaining smooth relations with foreign countries based on a balanced and independent approach for mutual benefit.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The integrated policy also aims to develop mutually beneficial bilateral relations with neighbouring countries by respecting each others independence.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Speaking at a function to unveil the </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> policy, Foreign Minister Pradeep Gyawali said that Nepal has adopted a policy to recognize all countries as friendly nations. He said that Nepal will not consider any country as enemy state. He also clarified that the government will have a balanced approach towards any country and will not lean toward any particular country or ignore others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">He also added that the </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> foreign policy has given continuity to Nepal’s non-alignment movement, which the country has been following since a long time. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> foreign policy, which according to the government is independent and balanced, strives for mutual benefits and is based on respecting each other.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The foreign policy has also included issues to protect the rights of Nepali nationals working in foreign countries, informed Minister Gyawali.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12512', 'image' => '20201207123126_1607297631.pradip.jpg', 'article_date' => '2020-12-07 12:30:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12764', 'article_category_id' => '1', 'title' => 'There is no Need for Electronic Cargo Transport System: Importers', 'sub_title' => '', 'summary' => 'December 6: The electronic cargo tracking system (ECTS), which was introduced to reduce the transportation cost of Nepal’s overseas trade, has ironically become the reason for price hike. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The electronic cargo tracking system (ECTS), which was introduced to reduce the transportation cost of Nepal’s overseas trade, has ironically become the reason for price hike. </span></span></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 Unicode MS"">Government authorities had implemented the ECTS while implementing the transshipment system to remove paperworks at Kolkata and Visakhapatman ports of 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 Unicode MS"">The ECTS was implemented on cargo containers transported through railways in order to prevent misuse of goods brought from overseas. Although this system, which uses GPS tracking, was launched to facilitate transport of goods, it has become the reason for transportation cost to shoot up.</span></span></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 Unicode MS"">The ECTS is fixed on containers loaded on trains from the sea ports of India to track their location. But Nepali importers say that the location of the cargo containers can be obtained from the website of Container Corporation of India Limited (CONCOR) even without the use of ECTS.</span></span></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 Unicode MS"">Importer Suresh Rungata says the ECTS has become a means for the transporter company to charge fare arbitrarily. </span></span></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 Unicode MS"">“There is no need of ECTS in rail route because the containers can be tracked from CONCOR’s website, which is authorized to transport the goods through the railway route,” says Rungata.</span></span></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 Unicode MS"">The ECTS was introduced to remove paper work at Indian ports. This system was expected to reduce the transportation cost by 50 percent. Although the paper works have been removed, the transportation cost has increased by 50 percent instead.</span></span></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 Unicode MS"">The company authorized to transport the goods charges IRs 3,400 per container. Although the status of the containers can be obtained from the website, the company has been charging fare for every container. Nepali importers complain that this provision has needlessly increased the transportation cost </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12511', 'image' => '20201206033259_1607211452.Clipboard16.jpg', 'article_date' => '2020-12-06 15:32:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12763', 'article_category_id' => '266', 'title' => 'Nabil Bank and One to Watch Collaborate to Support MSMEs in Nepal', 'sub_title' => '', 'summary' => 'December 6: Nabil Bank and One to Watch (OTW), an investment management company, have collaborated to provide interest-free and collateral-free loans to MSMEs under OTW COVID-19 MSME Fund Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">December 6: Nabil Bank and One to Watch (OTW), an investment management company, have collaborated to provide interest-free and collateral-free loans to MSMEs under OTW COVID-19 MSME Fund Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Under this strategic partnership, Micro, Small and Medium Enterprises (MSMEs) with the potential to return to revenue against the COVID-19 induced recession shall be benefited by the collateral-free and interest-free loan to meet their short-term working capital and help them survive through the hardships and restrictions presented by COVID-19, reads a statement issued by the bank. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Apart from the loan, enterprises shall also receive technical assistance in the form of customized business advisory/development services enabling them to preserve business continuity and build resilience. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">According to Nabil Bank, MSMEs evaluated to have the potential to bounce back based on a pre-determined set of criteria shall get collateral-free loan from the bank and the interest amount shall be paid by the fund for a maximum period of 18 months. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Sujit Kumar Shakya, deputy CEO of Nabil Bank and Suman Joshi, managing director of One to Watch, signed the agreement amid a recent programme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Speaking about the partnership, Anil Keshary Shah, CEO of Nabil Bank said, “Nabil Bank is always ready to support the MSME sector in Nepal, to help grow their businesses and surge ahead for long-term stability and overall economic growth of the country. We are very excited to collaborate with One to Watch in this effort to provide interest-free and collateral-free working capital loans to MSMEs affected by COVID-19 to assist in their survival through these tough times, enabling them to retain their teams and sustain their businesses. Nabil Bank continues to be focused on promoting the MSME segment by bringing products and services that enable ease of access to finance to small entrepreneurs and businesses in this segment.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12510', 'image' => '20201206033156_cottage-industry-basking-making 2.jpg', 'article_date' => '2020-12-06 15:31:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12762', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs Government Officials to Effectively Implement Budget', 'sub_title' => '', 'summary' => 'December 6: Finance Minister Bishnu Poudel has directed government officials to effectively implement the programmes and policies of the current fiscal year 2020/21.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Finance Minister Bishnu Poudel has directed government officials to effectively implement the programmes and policies of the current fiscal year 2020/21.</span></span></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 Unicode MS"">Pointing out to the fact that the government has not been able to spend capital expenditure, collect revenue and implement the programmes included in the budget properly in the first quarter of the current fiscal year, he instructed the government officials to improve their work performance for effective implementation of the programmes.</span></span></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 Unicode MS"">Speaking at a meeting organised at the ministry after reviewing the works done in the first quarter, Minister Poudel told the concerned authorities to resolve the problems related to budget implementation at the departmental level as far as it is possible.</span></span></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 Unicode MS"">He also pledged to ensure that there will be no problem in resource management and coordination for the implementation of budget.</span></span></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 Unicode MS"">“Please set a deadline and complete the works related to the programmes and policies of the government on time,” said Minister Poudel.</span></span></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 Unicode MS"">He also directed the departmental heads to clear all the arrears within the deadline. Stating that the government has already endorsed the work procedure to provide concessional loan for economic revival, he stressed on effective implementation of the programmes to that the targeted groups benefit from the scheme.</span></span></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 Unicode MS"">Finance Minister Poudel had recently summoned officials from all the ministries and sought details of budget implementation and their current status.</span></span></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 Unicode MS"">Meanwhile, Governor of Nepal Rastra Bank Maha Prasad Adhikari said during the recent meeting that the central bank has been making efforts to effectively implement the financial policies of the government. He said that the central bank has already instructed commercial banks to provide concessional loans to the targeted groups.</span></span></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 Unicode MS"">Meanwhile, Vice Chairman of the National Planning Commission Pushpa Kandel said that the government has been pushing for new projects at a time when old projects have not been able to complete. He also said that the government must pay special attention to discourage such trend.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12509', 'image' => '20201206024335_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2020-12-06 14:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12761', 'article_category_id' => '1', 'title' => 'Equipment Required for Upper Tamakoshi Hydel yet to Arrive ', 'sub_title' => '', 'summary' => 'December 6: The construction of 456 MW Upper Tamakoshi Hydropower Project has slowed down and the production has also become uncertain as the Indian contractor Texmaya has not been able to transport penstock expansion joint and dismantle box from Kolkata on time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">December 6: The construction of 456 MW Upper Tamakoshi Hydropower Project has slowed down and the production has also become uncertain as the Indian contractor Texmaya has not been able to transport penstock expansion joint and dismantle box from Kolkata on time. </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:"Times New Roman"">Chief Executive Officer of the Upper Tamakoshi Hydropower Project, Bigyan Prasad Shrestha said that it is not possible to set a date for the test. Project spokesperson Dr Ganesh Neupane said that the project is urging the suppliers to bring expansion joints and disposable boxes from Kolkata. </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:"Times New Roman"">Neupane further said that if the expansion joints and disposable boxes and other necessary equipment are transported, the project's desender, tunnel and other structures can be tested from mid-February. He said that it is possible to fix the date for power generation test only after testing the tunnel and penstock of the project. </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:"Times New Roman"">Meanwhile<strong>, </strong>the tower at Putung of Kalinchok Rural Municipality that was constructed for the transmission of electricity generated from the project has been damaged. The project claims that the tower was damaged due to the structure of the land. According to the project office, experts are studying on where to reconstruct the tower. Spokesperson Neupane said that the construction of the tower will be started after receiving suggestions from the experts. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The multi-circuit tower not built yet due to land dispute</span></span></strong> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The multi-circuit tower at Shahare, Tamakoshi Rural Municipality has not been built yet due to the land dispute. </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:"Times New Roman"">The project stated that the construction of the tower could not happen because the locals are obstructing the construction as the Nepal Electricity Authority has not provided compensation so far. However, Neupane claims that even though the tower has not been constructed, a short-term alternative has been sought for the transmission of electricity generated from the Upper Tamakoshi Hydropower Project. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12508', 'image' => '20201206012152_1607211371.Clipboard13.jpg', 'article_date' => '2020-12-06 13:20:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12760', 'article_category_id' => '1', 'title' => 'Secretaries of Nepal and India to Discuss Transshipment Treaty Tomorrow', 'sub_title' => '', 'summary' => 'December 6: Nepal and India have concluded a Joint secretary-level inter-governmental sub-committee meeting on trade and transshipment between the two countries.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Nepal and India have concluded a Joint secretary-level inter-governmental sub-committee meeting on trade and transshipment between the two countries.</span></span></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 Unicode MS"">During the virtual meeting held on Thursday and Friday (December 3-4), the two sides reviewed trade and business between the two countries and also agreed to conduct a study on trade route between Nepal and India. The two countries also agreed to develop necessary infrastructure on border transit 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:"Arial Unicode MS"">Participants of the meeting also floated the proposal of facilitating trade between Nepal and India in accordance to the South Asia Free Trade Agreement (SAFTA). </span></span></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 Unicode MS"">During the meeting attended by joint secretaries of the two countries, Nepal and India also discussed about the expansion of Indian herbal products (Ayruvedic products) in the Nepali market. The two sides also discussed about resolving the problems that have surfaced in trans-border trade between Nepal and 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 Unicode MS"">The Nepalese side also demanded health certificate for the animals that enter Nepal for meat processing industries.</span></span></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 Unicode MS"">Joint Secretary at the Ministry of Industry, Commerce and Supplies Urmila KC informed New Business Age that the Nepali side proposed during the meeting to study additional trade routes between Nepal and 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 Unicode MS"">A secretarial-level meeting will be held on Monday (December 7) based on the understanding reached during last weeks meeting.</span></span></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 Unicode MS"">An official of the ministry said that the two countries will discuss about reviewing the transshipment treaty between Nepal and India during the upcoming secretary-level meeting.</span></span></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 Unicode MS"">Last year, the two countries had formulated a draft of the transshipment treaty. The two sides will discuss the flaws of the proposed treaty and make necessary amendments before the new treaty gets endorsed by the ministers of the two countries by upcoming summer. It has been learnt that Monday’s meeting will fix the date for signing the treaty.</span></span></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 Unicode MS"">Once the new transshipment treaty comes into force, Nepal will be able to conduct trade with third countries using waterways. Nepal will also be able to use two more ports of India – Dhamra of Orissa and Mundra of Gujrat – for overseas trade.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12507', 'image' => '20201206110215_Flag-Pins-India-Nepal.jpg', 'article_date' => '2020-12-06 11:01:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12759', 'article_category_id' => '1', 'title' => 'Banks to Charge Customers for Inter-Bank Transaction using ATM Cards', 'sub_title' => '', 'summary' => 'December 6: Commercial banks will be charging fee for inter-bank transaction using ATM cards from now onwards.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Commercial banks will be charging fee for inter-bank transaction using ATM cards from now onwards.</span></span></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 Unicode MS"">Nepal Rastra Bank had earlier instructed banks not to charge any fee for inter-bank transaction using ATM fees to facilitate customers during the lockdown period. </span></span></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 Unicode MS"">That decision has been recently revoked by the central bank after reviewing the monetary policy for the current fiscal year. It means that the customers using ATM cards for withdrawing money from other banks will now have to pay charges.</span></span></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 Unicode MS"">Nepal Rastra Bank has already instructed banks to proceed with the their regular business in this regard.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12506', 'image' => '20201206104023_1607065986.Bank-ATM.jpg', 'article_date' => '2020-12-06 10:39:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12758', 'article_category_id' => '1', 'title' => 'Secretary-Level Meeting on Energy to be held Next Week', 'sub_title' => '', 'summary' => 'December 4: The eighth secretary-level meeting for the implementation of the Power Trade Agreement (PTA) between Nepal and India is scheduled to be held next week. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">December 4: The eighth secretary-level meeting for the implementation of the Power Trade Agreement (PTA) between Nepal and India is scheduled to be held next week. The meeting is scheduled to be held on Thursday and Friday (December 10 and 11) through virtual medium.</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">An electricity trade agreement was signed between Nepal and India in October 2014. Nepal-India Secretary-level meeting has been held every year for the implementation of the PTA. After signing the PTA, the two countries have been holding meetings alternately.</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">Prior to this, the meeting was held on October 26, 2019 in Bangalore, India. This time it is Nepal's turn to organize the meeting. The Ministry of Energy, Water Resources, and Irrigation informed that the meeting will be held virtually due to Covid-19 pandemic.</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">Energy Secretary of the Government of Nepal Dinesh Ghimire informed that a secretary-level meeting will be held next week. He informed that works are underway to formulate the agenda to be presented at the meeting and necessary preparations are being made.</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">Last year's meeting had decided to build the New Butwal-New Gorakhpur Second Interstate Transmission Line (400 KV) with equal investment from both the countries.</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 Bangalore meeting also approved the detailed project report of two more inter-country transmission lines - Inaruwa-Purnia and Lamki-Bareilly - between the two countries. The investment structure of these two transmission lines will be decided in the coming meeting.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-04', 'modified' => '2020-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '12505', 'image' => '20201204033300_Classification-of-Overhead-Transmission-lines-1.jpg', 'article_date' => '2020-12-04 15:32:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12757', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank Nepal reaffirmed with AAA Rating', 'sub_title' => '', 'summary' => 'December 4: Standard Chartered Bank Nepal has said that the bank has been reaffirmed with the issuer rating of AAA by ICRA Nepal, the first credit rating agency of the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 4: Standard Chartered Bank Nepal has said that the bank has been reaffirmed with the issuer rating of AAA by ICRA Nepal, the first credit rating agency of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The rating is considered to have the highest degree of safety regarding the timely servicing of financial obligations, the bank said in a statement. Such issuers carry the lowest credit risk. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the bank, this is the second year in a row that the Standard Chartered Nepal has received the coveted rating.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">“The rating reaffirmation continues to derive comfort from the bank’s established track record (operating since 1987) and robust risk management and underwriting practices, which are reflected in its ability to maintain a strong asset quality in recent quarters despite the impact of the Covid-19 pandemic,” ICRA Nepal stated.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">CEO of Standard Chartered Nepal, Anirvan Ghosh Dastidar said, “The reaffirmation of AAA rating is validation of our commitment towards our clients and all our stakeholders. We thank everyone for making this possible.”</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-04', 'modified' => '2020-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '12504', 'image' => '20201204021109_My Effect.jpg', 'article_date' => '2020-12-04 14:09:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12771', 'article_category_id' => '1', 'title' => 'Nepal-India Meeting on Trade and Transshipment Decides to Curb Unauthorized Business in Border Area', 'sub_title' => '', 'summary' => 'December 8: The Inter Government Committee Meeting on Trade and Transshipment between Nepal and India concluded on Monday (December 7) with an understanding to step up efforts to curb unauthorized business in border areas.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 8: The Inter Government Committee Meeting on Trade and Transshipment between Nepal and India concluded on Monday (December 7) with an understanding to step up efforts to curb unauthorized business in border areas.</span></span></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 Unicode MS"">The secretary-level meeting was held to discuss and endorse the agenda of an earlier meeting held on December 3-4.</span></span></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 Unicode MS"">Monday’s meeting decided to curb unauthorized business in border areas. Both sides pledged to ban illegal businesses within their jurisdiction in border areas. Nepal and India also agreed to set up modern infrastructure at customs points to discourage illegal trade and business, informed Urmila KC, deputy spokesperson at the Ministry of Industry, Commerce and Supplies.</span></span></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 Unicode MS"">“Both sides made commitment to curb illegal businesses in their respective areas,” said KC.</span></span></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 Unicode MS"">Last week, Indian businessmen and entrepreneurs had met with India’s Industry and Commerce Minister Piyush Goyal and urged him to regulate unauthorized entry of Nepali goods.</span></span></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 Unicode MS"">They had informed the minister that the Indian businesses were on the verge of collapse due to the government’s failure in regulating import of goods, especially edible oil from Nepal. Minister Goyal had assured the Indian businessmen to resolve their problem.</span></span></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 Unicode MS"">Secretary at the Ministry of Industry, Commerce and Supplies Dr Baikuntha Aryal, his Indian counterpart Anup Badhwa and Indian ambassador to Nepal Binaya Mohan Kwatra had attended Monday’s virtual meeting. Representatives of various ministries of both the countries were also present during the meeting.</span></span></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 Unicode MS"">The two sides also discussed trade between the two countries. Discussions were also held in topics like trade and transshipment treaty and its review, amendment of railway agreement, promoting investment and formation of joint commerce forum among other issues.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-08', 'modified' => '2020-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '12518', 'image' => '20201208114623_1607384966.Clipboard11.jpg', 'article_date' => '2020-12-08 11:45:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12769', 'article_category_id' => '236', 'title' => 'Laxmi Premium Motors establishes new BMW Dealership in Nepal.', 'sub_title' => '', 'summary' => 'December 7: Laxmi Premium Motors, the sole authorized importer and distributor for BMW cars in Nepal, has opened a new dealership at Tinkune.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">December 7: Laxmi Premium Motors, the sole authorized importer and distributor for BMW cars in Nepal, has opened a new dealership at Tinkune.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the company, the new dealership is spread over 10,165 sq ft area. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The company said in a statement that the dealership opened in partnering with BMW Asia and BMW Bangladesh serves as a key touchpoint for customers to engage with the brand. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“These are exciting times for BMW in Nepal as we partner with Laxmi Premium Motors to grow the brand’s presence in the country and offer our customers the dynamic, innovative and bold cars they have been looking for,” said Christopher Wehner, Managing Director of BMW Group Asia. “The team deserves special praises for their hard work in opening the dealership in these challenging times and we are confident they are ready to successfully tackle the luxury vehicle segment.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nirakar Shrestha, Executive Director of Laxmi Premium Motors said he was thrilled to bring “Sheer Driving Pleasure” to Nepal. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“Our customers are at the centre of everything we do and this is evident from the state-of-the-art features of this brand-new facility, to our dedicated team on the floor,” said Shrestha, adding, “As we embark on this new journey with our customers, it is important that we provide an inspiring and unforgettable experience from the moment they step into our dealership. The world of BMW awaits.” </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The statement further said that BMW customers can experience an engaging and interactive retail environment like never before with the exquisite customer lounge and eye-catching Isetta Bar to a welcoming four-car display and service area at the outlet.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">One key feature is the availability of contactless test drives, said the statement. According to the company, customers can express their interest for test drive via the Laxmi Premium Motors official website or phone call. The selected car will then be thoroughly sanitized and delivered to the customer’s preferred location at their convenience.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12517', 'image' => '20201207044439_BMW-1055.jpg', 'article_date' => '2020-12-07 16:43:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12768', 'article_category_id' => '1', 'title' => 'Kakadbhitta-Inaruwa Railway Not Included in First Quarterly Report of Current FY ', 'sub_title' => '', 'summary' => 'December 7: The Kakadbhitta-Inaruwa railway section of the East-West Electric Railway, whose contract was canceled due to a dispute, has not been listed in the first quarterly report of the current Fiscal Year (FY) 2077/78.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">December 7: The Kakadbhitta-Inaruwa railway section of the East-West Electric Railway, whose contract was canceled due to a dispute, has not been listed in the first quarterly report of the current Fiscal Year (FY) 2077/78.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The first quarterly progress report of the Railway Department does not mention any issue regarding this section. However, officials of the department have informed New Business Age that they are preparing to issue a tender for the disputed section again.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The department previously had canceled the contract on September 8, 2020 after receiving criticism that it was preparing to award the contract to a limited construction companies on June 29 and 30.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS""> However, the department has not even included this issue in its first quarterly report. Similarly, the expenditure and physical progress of the project has been weak in the first four months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">According to the report received from the Ministry of Physical Infrastructure and Transport, the targeted budget, and the physical progress of the project have been found to be poor in the review period. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS"">The department had set a target to spend Rs 3 billion 620 million for the project in the first four months out of which the project was able to spend only Rs 1.12 billion. The total budget of the department for this year is Rs 8.66 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12516', 'image' => '20201207043210_1607297515.Clipboard07.jpg', 'article_date' => '2020-12-07 16:31:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12767', 'article_category_id' => '1', 'title' => 'Domestic Production of Nepal Declining', 'sub_title' => '', 'summary' => 'December 7: The government has been claiming that Nepal’s foreign trade is improving as a result of surplus Balance of Payments due to decline in imports. However, the country’s domestic production is bot satisfactory.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 7: The government has been claiming that Nepal’s foreign trade is improving as a result of surplus Balance of Payments due to decline in imports. However, the country’s domestic production is bot satisfactory.</span></span></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 Unicode MS"">Domestic products taking the market instead of imported goods is considered as a good sign of economy. However, industrialists and entrepreneurs are not ready to buy the idea that Nepal’s foreign trade is improving because the production and demand both had shrunk in the country. The government’s data shows that the import of raw materials required for industries has gone down in the recent days. Stakeholders of the private sector say that the import of such materials has declined due to coronavirus pandemic and the 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:"Arial Unicode MS"">The import of major raw materials required for industries has declined at Birgunj customs point in the first four months of the current fiscal year. Birgunj is not just the main transit point but also a major industrial hub. The construction and food processing industries in this corridor import raw materials through this customs point.</span></span></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 Unicode MS"">The import of iron from this entry point has declined by almost half during the review period. The country had imported 359,000 metric tons of iron during the corresponding period of last fiscal year. However, the import of iron dropped to 185,000 metric tons this year, says customs officer Jagdish Purbe.</span></span></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 Unicode MS"">The import of raw materials through the Integrated Check Post (ICP) of Birgunj has also declined. Nepali importers had imported 48,495 metric tons of billet during the first four months of last fiscal year but the import this year dropped by 28 percent to 34,682 metric tons, says customs officer Ramesh Sukhmani.</span></span></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 Unicode MS"">The local importers of Nepal have placed less demand due to rise in price of billet in 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 Unicode MS"">The price of iron rods has skyrocketed due to the increase in price of raw materials, says industrialist Rajesh Kyal.</span></span></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 Unicode MS"">“The price of iron rods has increased due to the rise in price of raw materials. In the meantime, the demand has declined,” says Kyal.</span></span></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 Unicode MS"">The demand for cement has also declined says industrialist Saneeep Agrawal. He says that the price and production of cement both have declined due to the low demand. The producers say that the price of cement has dropped by Rs 180 to Rs 230 oer sack.</span></span></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 Unicode MS"">Likewise, the import of clinker has also taken a nosedive.</span></span></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 Unicode MS"">The ICP officials said that clinker has not fallen among the top 20 imports of Nepal 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:"Arial Unicode MS"">Although it is said that the import of clinker has declined due to the production within the country, many industries are operating at below 50 percent capacity.</span></span></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 Unicode MS"">Similarly, the import of raw materials of food processing industries has also declined.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12515', 'image' => '20201207020738_1607297572.Clipboard05.jpg', 'article_date' => '2020-12-07 14:07:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12770', 'article_category_id' => '1', 'title' => 'Nepal’s Garment Industry in Trouble', 'sub_title' => '', 'summary' => 'December 7: The condition of Nepal’s garment industry, which has been affected severely by the Covid-19 pandemic for a long time, has not improved yet. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">December 7: The condition of Nepal’s garment industry, which has been affected severely by the Covid-19 pandemic for a long time, has not improved yet. The impact of the pandemic has reduced the production capacity of the garment industry and there have been no signs of improvement in problems faced during export. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Earlier, when the government restricted international flights to reduce the impact of coronavrius, garment manufacturers and businessmen were exporting goods even though they had to pay four times more transportation fare. Entrepreneurs say they are still suffering because the situation has not improved. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Entrepreneurs who exported clothes at high fares for the winter season in September and October were hoping of a reduction in fares while bringing clothes for the summer. However, the problem remains the same. The garment industry is currently producing and exporting clothes for the summer season. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Ashok Agrawal, general secretary of the Garment Association of Nepal, said that the entrepreneurs are facing many problems in export due to high transportation charge. Under normal circumstances, exporters used to export garments by sea through the Kolkata port of India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, border tightening due to the coronavirus pandemic has been in force for a long time. Due to this, goods could not be sent via the sea route. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The businessmen say that even though there is not much hassles at the border for import, there is problem in exporting goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Therefore, businessmen are forced to export goods via courier these days. "There has been no change in the previous fares and the sea routes have not been opened. We cannot predict for how long this business will have to face such a situation," Agrawal said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12514', 'image' => '20201207045155_20200901114856_1598909272.4.jpg', 'article_date' => '2020-12-07 16:51:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12766', 'article_category_id' => '1', 'title' => 'NCP Meeting Postponed by a Week', 'sub_title' => '', 'summary' => 'December 7: The Standing Committee meeting of the ruling Nepal Communist Party (NCP) has been postponed by a week. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 7: The Standing Committee meeting of the ruling Nepal Communist Party (NCP) has been postponed by a week. The meeting which was called for Sunday (December 6) at the party headquarters in Dhumbarahi has been pushed back by a week for next Sunday (December 13).</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Reports prepared by Prime Minister KP Sharma Oli and Executive Chairman Pushpa Kamal Dahal were presented at the meeting. The meeting was postponed to study the reports. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Prime Minister Oli, who is also the chairman of the party, did not attend Sunday’s meeting. He sent a message to the leaders present at the meeting informing them that he will not be able to attend the meeting which was scheduled to discuss the report blaming him of taking the party on the verge of split. Deputy Prime Minister Ishwar Pokharel had conveyed Oli’s message during the meeting.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Although Oli remained absent, another chairman Dahal chaired the meeting, which decided to study the reports of the two chairmen.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">PM Oli said that the party has been facing problems because his rivals want to take his place even though he has already pledged to step down from the party leadership after the next convention of the party. He also accused his opponents of not being patient enough to wait for the people’s mandate.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12513', 'image' => '20201207010810_images.jpg', 'article_date' => '2020-12-07 13:07:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12765', 'article_category_id' => '1', 'title' => 'Government Unveils Integrated Foreign Policy', 'sub_title' => '', 'summary' => 'December 7: The ruling Nepal Communist Party (NCP) has for the first time unveiled Nepal’s integrated foreign policy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">December 7: The ruling Nepal Communist Party (NCP) has for the first time unveiled Nepal’s integrated foreign policy. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The Nepal Foreign Policy 2077 made public by the government on Sunday (December 6) strives to promote national interest by maintaining smooth relations with foreign countries based on a balanced and independent approach for mutual benefit.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The integrated policy also aims to develop mutually beneficial bilateral relations with neighbouring countries by respecting each others independence.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Speaking at a function to unveil the </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> policy, Foreign Minister Pradeep Gyawali said that Nepal has adopted a policy to recognize all countries as friendly nations. He said that Nepal will not consider any country as enemy state. He also clarified that the government will have a balanced approach towards any country and will not lean toward any particular country or ignore others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">He also added that the </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> foreign policy has given continuity to Nepal’s non-alignment movement, which the country has been following since a long time. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The </span></span></span><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">integrated</span></span></span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial"> foreign policy, which according to the government is independent and balanced, strives for mutual benefits and is based on respecting each other.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">The foreign policy has also included issues to protect the rights of Nepali nationals working in foreign countries, informed Minister Gyawali.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-07', 'modified' => '2020-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '12512', 'image' => '20201207123126_1607297631.pradip.jpg', 'article_date' => '2020-12-07 12:30:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12764', 'article_category_id' => '1', 'title' => 'There is no Need for Electronic Cargo Transport System: Importers', 'sub_title' => '', 'summary' => 'December 6: The electronic cargo tracking system (ECTS), which was introduced to reduce the transportation cost of Nepal’s overseas trade, has ironically become the reason for price hike. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The electronic cargo tracking system (ECTS), which was introduced to reduce the transportation cost of Nepal’s overseas trade, has ironically become the reason for price hike. </span></span></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 Unicode MS"">Government authorities had implemented the ECTS while implementing the transshipment system to remove paperworks at Kolkata and Visakhapatman ports of 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 Unicode MS"">The ECTS was implemented on cargo containers transported through railways in order to prevent misuse of goods brought from overseas. Although this system, which uses GPS tracking, was launched to facilitate transport of goods, it has become the reason for transportation cost to shoot up.</span></span></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 Unicode MS"">The ECTS is fixed on containers loaded on trains from the sea ports of India to track their location. But Nepali importers say that the location of the cargo containers can be obtained from the website of Container Corporation of India Limited (CONCOR) even without the use of ECTS.</span></span></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 Unicode MS"">Importer Suresh Rungata says the ECTS has become a means for the transporter company to charge fare arbitrarily. </span></span></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 Unicode MS"">“There is no need of ECTS in rail route because the containers can be tracked from CONCOR’s website, which is authorized to transport the goods through the railway route,” says Rungata.</span></span></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 Unicode MS"">The ECTS was introduced to remove paper work at Indian ports. This system was expected to reduce the transportation cost by 50 percent. Although the paper works have been removed, the transportation cost has increased by 50 percent instead.</span></span></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 Unicode MS"">The company authorized to transport the goods charges IRs 3,400 per container. Although the status of the containers can be obtained from the website, the company has been charging fare for every container. Nepali importers complain that this provision has needlessly increased the transportation cost </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12511', 'image' => '20201206033259_1607211452.Clipboard16.jpg', 'article_date' => '2020-12-06 15:32:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12763', 'article_category_id' => '266', 'title' => 'Nabil Bank and One to Watch Collaborate to Support MSMEs in Nepal', 'sub_title' => '', 'summary' => 'December 6: Nabil Bank and One to Watch (OTW), an investment management company, have collaborated to provide interest-free and collateral-free loans to MSMEs under OTW COVID-19 MSME Fund Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">December 6: Nabil Bank and One to Watch (OTW), an investment management company, have collaborated to provide interest-free and collateral-free loans to MSMEs under OTW COVID-19 MSME Fund Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Under this strategic partnership, Micro, Small and Medium Enterprises (MSMEs) with the potential to return to revenue against the COVID-19 induced recession shall be benefited by the collateral-free and interest-free loan to meet their short-term working capital and help them survive through the hardships and restrictions presented by COVID-19, reads a statement issued by the bank. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Apart from the loan, enterprises shall also receive technical assistance in the form of customized business advisory/development services enabling them to preserve business continuity and build resilience. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">According to Nabil Bank, MSMEs evaluated to have the potential to bounce back based on a pre-determined set of criteria shall get collateral-free loan from the bank and the interest amount shall be paid by the fund for a maximum period of 18 months. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Sujit Kumar Shakya, deputy CEO of Nabil Bank and Suman Joshi, managing director of One to Watch, signed the agreement amid a recent programme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Futura LT Book"">Speaking about the partnership, Anil Keshary Shah, CEO of Nabil Bank said, “Nabil Bank is always ready to support the MSME sector in Nepal, to help grow their businesses and surge ahead for long-term stability and overall economic growth of the country. We are very excited to collaborate with One to Watch in this effort to provide interest-free and collateral-free working capital loans to MSMEs affected by COVID-19 to assist in their survival through these tough times, enabling them to retain their teams and sustain their businesses. Nabil Bank continues to be focused on promoting the MSME segment by bringing products and services that enable ease of access to finance to small entrepreneurs and businesses in this segment.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12510', 'image' => '20201206033156_cottage-industry-basking-making 2.jpg', 'article_date' => '2020-12-06 15:31:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12762', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs Government Officials to Effectively Implement Budget', 'sub_title' => '', 'summary' => 'December 6: Finance Minister Bishnu Poudel has directed government officials to effectively implement the programmes and policies of the current fiscal year 2020/21.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Finance Minister Bishnu Poudel has directed government officials to effectively implement the programmes and policies of the current fiscal year 2020/21.</span></span></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 Unicode MS"">Pointing out to the fact that the government has not been able to spend capital expenditure, collect revenue and implement the programmes included in the budget properly in the first quarter of the current fiscal year, he instructed the government officials to improve their work performance for effective implementation of the programmes.</span></span></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 Unicode MS"">Speaking at a meeting organised at the ministry after reviewing the works done in the first quarter, Minister Poudel told the concerned authorities to resolve the problems related to budget implementation at the departmental level as far as it is possible.</span></span></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 Unicode MS"">He also pledged to ensure that there will be no problem in resource management and coordination for the implementation of budget.</span></span></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 Unicode MS"">“Please set a deadline and complete the works related to the programmes and policies of the government on time,” said Minister Poudel.</span></span></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 Unicode MS"">He also directed the departmental heads to clear all the arrears within the deadline. Stating that the government has already endorsed the work procedure to provide concessional loan for economic revival, he stressed on effective implementation of the programmes to that the targeted groups benefit from the scheme.</span></span></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 Unicode MS"">Finance Minister Poudel had recently summoned officials from all the ministries and sought details of budget implementation and their current status.</span></span></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 Unicode MS"">Meanwhile, Governor of Nepal Rastra Bank Maha Prasad Adhikari said during the recent meeting that the central bank has been making efforts to effectively implement the financial policies of the government. He said that the central bank has already instructed commercial banks to provide concessional loans to the targeted groups.</span></span></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 Unicode MS"">Meanwhile, Vice Chairman of the National Planning Commission Pushpa Kandel said that the government has been pushing for new projects at a time when old projects have not been able to complete. He also said that the government must pay special attention to discourage such trend.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12509', 'image' => '20201206024335_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2020-12-06 14:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12761', 'article_category_id' => '1', 'title' => 'Equipment Required for Upper Tamakoshi Hydel yet to Arrive ', 'sub_title' => '', 'summary' => 'December 6: The construction of 456 MW Upper Tamakoshi Hydropower Project has slowed down and the production has also become uncertain as the Indian contractor Texmaya has not been able to transport penstock expansion joint and dismantle box from Kolkata on time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">December 6: The construction of 456 MW Upper Tamakoshi Hydropower Project has slowed down and the production has also become uncertain as the Indian contractor Texmaya has not been able to transport penstock expansion joint and dismantle box from Kolkata on time. </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:"Times New Roman"">Chief Executive Officer of the Upper Tamakoshi Hydropower Project, Bigyan Prasad Shrestha said that it is not possible to set a date for the test. Project spokesperson Dr Ganesh Neupane said that the project is urging the suppliers to bring expansion joints and disposable boxes from Kolkata. </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:"Times New Roman"">Neupane further said that if the expansion joints and disposable boxes and other necessary equipment are transported, the project's desender, tunnel and other structures can be tested from mid-February. He said that it is possible to fix the date for power generation test only after testing the tunnel and penstock of the project. </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:"Times New Roman"">Meanwhile<strong>, </strong>the tower at Putung of Kalinchok Rural Municipality that was constructed for the transmission of electricity generated from the project has been damaged. The project claims that the tower was damaged due to the structure of the land. According to the project office, experts are studying on where to reconstruct the tower. Spokesperson Neupane said that the construction of the tower will be started after receiving suggestions from the experts. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The multi-circuit tower not built yet due to land dispute</span></span></strong> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The multi-circuit tower at Shahare, Tamakoshi Rural Municipality has not been built yet due to the land dispute. </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:"Times New Roman"">The project stated that the construction of the tower could not happen because the locals are obstructing the construction as the Nepal Electricity Authority has not provided compensation so far. However, Neupane claims that even though the tower has not been constructed, a short-term alternative has been sought for the transmission of electricity generated from the Upper Tamakoshi Hydropower Project. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12508', 'image' => '20201206012152_1607211371.Clipboard13.jpg', 'article_date' => '2020-12-06 13:20:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12760', 'article_category_id' => '1', 'title' => 'Secretaries of Nepal and India to Discuss Transshipment Treaty Tomorrow', 'sub_title' => '', 'summary' => 'December 6: Nepal and India have concluded a Joint secretary-level inter-governmental sub-committee meeting on trade and transshipment between the two countries.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Nepal and India have concluded a Joint secretary-level inter-governmental sub-committee meeting on trade and transshipment between the two countries.</span></span></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 Unicode MS"">During the virtual meeting held on Thursday and Friday (December 3-4), the two sides reviewed trade and business between the two countries and also agreed to conduct a study on trade route between Nepal and India. The two countries also agreed to develop necessary infrastructure on border transit 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:"Arial Unicode MS"">Participants of the meeting also floated the proposal of facilitating trade between Nepal and India in accordance to the South Asia Free Trade Agreement (SAFTA). </span></span></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 Unicode MS"">During the meeting attended by joint secretaries of the two countries, Nepal and India also discussed about the expansion of Indian herbal products (Ayruvedic products) in the Nepali market. The two sides also discussed about resolving the problems that have surfaced in trans-border trade between Nepal and 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 Unicode MS"">The Nepalese side also demanded health certificate for the animals that enter Nepal for meat processing industries.</span></span></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 Unicode MS"">Joint Secretary at the Ministry of Industry, Commerce and Supplies Urmila KC informed New Business Age that the Nepali side proposed during the meeting to study additional trade routes between Nepal and 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 Unicode MS"">A secretarial-level meeting will be held on Monday (December 7) based on the understanding reached during last weeks meeting.</span></span></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 Unicode MS"">An official of the ministry said that the two countries will discuss about reviewing the transshipment treaty between Nepal and India during the upcoming secretary-level meeting.</span></span></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 Unicode MS"">Last year, the two countries had formulated a draft of the transshipment treaty. The two sides will discuss the flaws of the proposed treaty and make necessary amendments before the new treaty gets endorsed by the ministers of the two countries by upcoming summer. It has been learnt that Monday’s meeting will fix the date for signing the treaty.</span></span></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 Unicode MS"">Once the new transshipment treaty comes into force, Nepal will be able to conduct trade with third countries using waterways. Nepal will also be able to use two more ports of India – Dhamra of Orissa and Mundra of Gujrat – for overseas trade.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12507', 'image' => '20201206110215_Flag-Pins-India-Nepal.jpg', 'article_date' => '2020-12-06 11:01:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12759', 'article_category_id' => '1', 'title' => 'Banks to Charge Customers for Inter-Bank Transaction using ATM Cards', 'sub_title' => '', 'summary' => 'December 6: Commercial banks will be charging fee for inter-bank transaction using ATM cards from now onwards.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 6: Commercial banks will be charging fee for inter-bank transaction using ATM cards from now onwards.</span></span></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 Unicode MS"">Nepal Rastra Bank had earlier instructed banks not to charge any fee for inter-bank transaction using ATM fees to facilitate customers during the lockdown period. </span></span></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 Unicode MS"">That decision has been recently revoked by the central bank after reviewing the monetary policy for the current fiscal year. It means that the customers using ATM cards for withdrawing money from other banks will now have to pay charges.</span></span></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 Unicode MS"">Nepal Rastra Bank has already instructed banks to proceed with the their regular business in this regard.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-06', 'modified' => '2020-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '12506', 'image' => '20201206104023_1607065986.Bank-ATM.jpg', 'article_date' => '2020-12-06 10:39:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12758', 'article_category_id' => '1', 'title' => 'Secretary-Level Meeting on Energy to be held Next Week', 'sub_title' => '', 'summary' => 'December 4: The eighth secretary-level meeting for the implementation of the Power Trade Agreement (PTA) between Nepal and India is scheduled to be held next week. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">December 4: The eighth secretary-level meeting for the implementation of the Power Trade Agreement (PTA) between Nepal and India is scheduled to be held next week. The meeting is scheduled to be held on Thursday and Friday (December 10 and 11) through virtual medium.</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">An electricity trade agreement was signed between Nepal and India in October 2014. Nepal-India Secretary-level meeting has been held every year for the implementation of the PTA. After signing the PTA, the two countries have been holding meetings alternately.</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">Prior to this, the meeting was held on October 26, 2019 in Bangalore, India. This time it is Nepal's turn to organize the meeting. The Ministry of Energy, Water Resources, and Irrigation informed that the meeting will be held virtually due to Covid-19 pandemic.</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">Energy Secretary of the Government of Nepal Dinesh Ghimire informed that a secretary-level meeting will be held next week. He informed that works are underway to formulate the agenda to be presented at the meeting and necessary preparations are being made.</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">Last year's meeting had decided to build the New Butwal-New Gorakhpur Second Interstate Transmission Line (400 KV) with equal investment from both the countries.</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 Bangalore meeting also approved the detailed project report of two more inter-country transmission lines - Inaruwa-Purnia and Lamki-Bareilly - between the two countries. The investment structure of these two transmission lines will be decided in the coming meeting.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-04', 'modified' => '2020-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '12505', 'image' => '20201204033300_Classification-of-Overhead-Transmission-lines-1.jpg', 'article_date' => '2020-12-04 15:32:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12757', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank Nepal reaffirmed with AAA Rating', 'sub_title' => '', 'summary' => 'December 4: Standard Chartered Bank Nepal has said that the bank has been reaffirmed with the issuer rating of AAA by ICRA Nepal, the first credit rating agency of the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 4: Standard Chartered Bank Nepal has said that the bank has been reaffirmed with the issuer rating of AAA by ICRA Nepal, the first credit rating agency of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The rating is considered to have the highest degree of safety regarding the timely servicing of financial obligations, the bank said in a statement. Such issuers carry the lowest credit risk. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the bank, this is the second year in a row that the Standard Chartered Nepal has received the coveted rating.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">“The rating reaffirmation continues to derive comfort from the bank’s established track record (operating since 1987) and robust risk management and underwriting practices, which are reflected in its ability to maintain a strong asset quality in recent quarters despite the impact of the Covid-19 pandemic,” ICRA Nepal stated.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">CEO of Standard Chartered Nepal, Anirvan Ghosh Dastidar said, “The reaffirmation of AAA rating is validation of our commitment towards our clients and all our stakeholders. We thank everyone for making this possible.”</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-04', 'modified' => '2020-12-04', 'keywords' => '', 'description' => '', 'sortorder' => '12504', 'image' => '20201204021109_My Effect.jpg', 'article_date' => '2020-12-04 14:09:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
