November 8: Tourism activities which resumed after seven months of restrictions have been affected once again due to lack of coordination among the government…
November 8: Tourism activities which resumed after seven months of restrictions have been affected once again due to lack of coordination among the government…
November 8: The demand for dry fruits, which is excessively used during the festival of Tihar, has gone down this year.…
November 8: Nepal’s international border transit points with China, which was closed since late January, haven’t become fully operational.…
November 6: The number of customers on the blacklist of Banks and Financial Institutions (BFIs), which had increased during the lockdown period, has now declined.…
November 6: The government has announced concessional loans as a relief to the tourism industry that has been badly affected by coronavirus.…
November 6: Non-life insurance companies have agreed to settle the insurance claims for coronavirus within two weeks amid complaints from the claimants that they are not receiving…
November 6: The government has issued the Valley Public Transport Authority Infrastructure Development Committee Order 2077 for proper management of public transportation in the Kathmandu…
November 6: Prime Minister and chairman of Nepal Communist Party (NCP) KP Sharma Oli met with executive chairman of the party Pushpa Kamal Dahal on Thursday (November 5) amid intra-party tensions and internal rift inching closer to…
November 5: Decorative lights worth Rs 180 million have been imported for the festive season this year.…
November 5: Low production of black cardamom in Assam this year has forced Indian businessmen to set up purchase centers in Nepal to fulfill their demand.…
November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China.…
November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months…
November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions.…
November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment…
November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent…
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The government recently granted permission to reopen trekking and mountaineering on October 17. However, tourism activities and flights remain disrupted in some tourism destinations due to prohibitory orders issued by the local units. </span></span></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 tourism industry is returning back on track after a long time. Tourists have started arriving for trekking and mountaineering. The government had earlier banned all activities related to trekking and mountaineering during the spring season. But it later decided to revoke the ban after lifting the lockdown a few months ago. However, the restrictions are yet to be removed by various local units.</span></span></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"">Khumbu Pasang Lhamu Rural Municipality of Soluhumbu district issued a notice to the Civil Aviation Authority of Nepal (CAAN) and the Lukla-based Tenjing Hillary Airport on October 23 instructing all the airline companies not to bring any passengers to the airport until another notice.</span></span></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"">In contrast, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai has been claiming that Nepal is a safe destination for international tourists following recent high-profile visits by foreign delegates for mountaineering. The conflicting move of the rural municipality comes amid the minister’s claim that the government is preparing to open other tourism activities in the country after allowing trekking and mountain expeditions. This clearly indicates lack of coordination among the three levels of government.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Secretary of Nepal Mountaineering Association, Tikaram Gurung, besides Khumbu the locals of Ghalegaun in Annapurna region have also banned the entry of tourists citing the risk of coronavirus. The said that the tourism industry that had been crawling back to normalcy has been affected due to the lack of coordination among the three tiers of government.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Gurung was of the view that instead of imposing a ban, the local authorities should have allowed tourists after PCR tests.</span></span></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 confusion because the government has announced reopening of the tourism sector but its actions indicate otherwise,” said Gurung.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12398', 'image' => '20201108023033_1604792178.Clipboard06.jpg', 'article_date' => '2020-11-08 14:30:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12650', 'article_category_id' => '1', 'title' => 'Prices of Dry Fruits and other essentials for Tihar Decline', 'sub_title' => '', 'summary' => 'November 8: The demand for dry fruits, which is excessively used during the festival of Tihar, has gone down this year. ', '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"">November 8: The demand for dry fruits, which is excessively used during the festival of Tihar, has gone down this year. The price of dry fruits has also declined with the decrease in demand for the much needed-item.</span></span></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"">Businessmen believe that the demand for dry fruits has declined because of the decline in purchasing power of the people due to the coronavirus pandemic.</span></span></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 sale of dry fruits normally goes up by 50 percent during Tihar compared to normal days but this year the sale is hovering around 30 percent, says Raj Kumar Shrestha, chairman of Retail Business Association.</span></span></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 says that hotels and restaurants as well as sweet shops that normally buy large quantities of dry fruits have not been operation in optimal condition. This is also one of the reasons for the decline in demand for dry fruits, says Shrestha.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shrestha says that businessmen are considering to sell the dry fruits at lower price this year fearing that the goods stored for long time in their godown might get damaged.</span></span></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 association informed that the price of dry fruits has decreased by Rs 200 per kilogram in the retail market compared to previous years. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of pistachio has declined by Rs 50 per kg and is currently being sold at Rs 1850.</span></span></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 cashew nuts has dropped from Rs 1750 to Rs 1550 per kilogram. The association informed that the prices of apricot, beetle nuts, small cardamom among others have also declined.</span></span></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"">Pabitra Bajracharya, a retail store owner, says that the demand for sugar and flour used to increase during Tihar in previous years. But it has not happened this year. Instead, they are finding it difficult to sell the products.</span></span></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"">Businessmen used to trade goods including spices and dry fruits worth Rs 600 million in Tihar. Most of them used to be imported from 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"">According to the Trade and Export Promotion Centre, Nepal imported dry fruits and other essentials for Tihar worth Rs 1.46 billion in the current fiscal year. The import of the same goods during last year was worth Rs 4 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12397', 'image' => '20201108122407_1604793552.Clipboard18.jpg', 'article_date' => '2020-11-08 12:23:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12649', 'article_category_id' => '1', 'title' => 'Nepali Importers Paying 17 times more to Import Goods from China', 'sub_title' => '', 'summary' => 'November 8: Nepal’s international border transit points with China, which was closed since late January, haven’t become fully operational. ', '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"">November 8: Nepal’s international border transit points with China, which was closed since late January, haven’t become fully operational. </span></span></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"">After the Covid-19 restrictions were lifted and border reopened, Chinese authorities have been delivering goods near the border area every day. China has been sending around five containers of goods in the border area, which lies in their territory. However, Nepali side has not been allowed to take their container across the border to that particular 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"">China had closed its border points with Nepal in late January following a rise in coronavirus cases in the country. Due to repeated requests from the Government of Nepal, China agreed to reopen the border in June/July but it limited the trade to five containers per day.</span></span></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"">Due to pressure from the Ministry of Industry, Commerce and Supplies, China agreed to facilitate the flow of goods in September/October but again reimposed restrictions in October/November. Most of the northern border points of Nepal are almost closed. Nepali importers say they are hardly able to bring in five containers of goods per day.</span></span></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"">Before January, Nepali importers used to take their own containers across the border and bring back goods. They had to pay around Rs 7 to 8 million for bringing goods in their own containers. However, China denied permission for Nepali containers to enter its territory due to coronavirus crisis. </span></span></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 transportation charge skyrocketed after China decided to transport goods up to the border points. Nepali importers say they have to spend at least Rs 1.2 million to import just one container of 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"">“Chinese containers supply goods just up to the border point. Nepali containers are not allowed to enter China anymore,” informed Bachhu Poudel, chairman of the Nepal Trans Himalayan Border Commerce Association (NTHBCA).</span></span></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"">“Earlier, it used to cost Rs 80,000 to transport the goods from across the border but the price has now shot up to Rs 1.2 million.</span></span></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"">According to the association, goods stuck across the border have started entering Nepal after 11 months but more than 2200 containers are still stranded in China.</span></span></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"">Some importers have returned the goods while others are still waiting for the consignment, informed 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"">“We are unaware about the condition of the goods. We don’t know whether the goods have rotten or not. On top of that, the transportation cost has increased 17 folds,” said 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"">Poudel said that although the government has assured to facilitate the flow of goods, there hasn’t been any progress.</span></span></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 of the association, Lopsang Sherpa, said that they have informed the customs office about the exorbitant price they have to pay across the border but the government is yet to address their issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He said that China has reportedly decided to end the rotation of its containers after November 14 and they are currently in a “wait and watch” situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12396', 'image' => '20201108114816_1604792852.Clipboard12.jpg', 'article_date' => '2020-11-08 11:47:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12648', 'article_category_id' => '1', 'title' => 'BFIs Report Decline in number of Blacklisted Customers ', 'sub_title' => '', 'summary' => 'November 6: The number of customers on the blacklist of Banks and Financial Institutions (BFIs), which had increased during the lockdown period, has now declined. ', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 6: The number of customers on the blacklist of Banks and Financial Institutions (BFIs), which had increased during the lockdown period, has now declined. The number of customers on the blacklist had skyrocketed when the government imposed a nationwide lockdown and prohibitory order from March 24 to mid-July.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">In the month of June/July, 9,626 borrowers were blacklisted by BFIs. But that number has dropped to 359 now. According to the Credit Information Center, inclusion of the names of customers that bounced their cheques during the lockdown in the blacklist was the reason for the increase in blacklisted customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to the Center, 10,732 people were added to the blacklist from April to the end of August. However, the number has plummeted now. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">"From that period until last Thursday (November 5), the number has dropped as most of the check bouncers have been removed from the blacklist after correcting their mistake and making the payments to the check bearer," the center said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Nepal Rastra Bank (NRB) had issued a unified directive on mid-August 2019, making an arrangement to blacklist the person, firm, company or organization issuing the check if they signed the check incorrectly and did not pay the amount within one year due to insufficient amount. Earlier, check issuers were blacklisted only if they were found to have bounced checks repeatedly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">With the removal of the names added during the lockdown from the blacklist, only 212 names in March, 84 names in April, 359 names in May, 359 names in June, 443 names in July and 313 names in August remain in the blacklist.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Bhuvan Kumar Dahal, the chairman of the Nepal Bankers' Association, says that the blacklist has not increased as the entrepreneurs or businesses that weren’t able to repay their loans during the lockdown were not converted into non-performing loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">"We have not blacklisted bad debtors because of COVID-19. The new non-performing loans have not been blacklisted and the old ones have been making their repayments," he said, adding, “More names have been sent for the blacklist for bouncing cheques.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks and financial institutions issue circulars to the credit information center to blacklist customers listing the names of customers with loans that are inactive or overdue, and customers giving bounced cheques. The center then blacklists such debtors. Banks and financial institutions are not allowed to provide loans to blacklisted borrowers. In addition, the blacklisted person is denied various facilities from the state.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12395', 'image' => '20201106055408_Nepal_Rastra_Bank2.jpg', 'article_date' => '2020-11-06 17:53:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12647', 'article_category_id' => '1', 'title' => ''Hotel Industry of Province 1 in Extreme Crisis'', 'sub_title' => '', 'summary' => 'November 6: The government has announced concessional loans as a relief to the tourism industry that has been badly affected by coronavirus. ', '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"">November 6: The government has announced concessional loans as a relief to the tourism industry that has been badly affected by coronavirus. However, hotels in Province 1 have started to close one after another due to the problems in meeting the operational costs. </span></span></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 the lockdown and prohibitory order have been lifted, the hotel industry is struggling due to lack of tourists. </span></span></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"">Hotel Asiatique of Biratnagar has converted itself into a 100-bed isolation centre after the arrival of tourists stopped.</span></span></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"">Operator of the hotel Punya Bhattarai, who is also the provincial chairman of Nepal Association of Travel Agents (NATA), informed that they were forced to convert the hotel into an isolation centre after failing to raise the operational costs.</span></span></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 says that the hotel business had started to return back on track after the lockdown was lifted. However, their business has again declined due to the rise in number of coronavirus cases across the country. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bhattarai informed that the reason behind the closure of two big hotels of Biratnagar including Genelia and Namaskar is the failure to meet the operational cost.</span></span></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 says that the tourism industry in Province 1 is under existential crisis as the old hotels have started closing down while the new ones are unable to start their business.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12394', 'image' => '20201106031330_0410441105700_Clipboard37 2.jpg', 'article_date' => '2020-11-06 15:12:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12646', 'article_category_id' => '1', 'title' => 'Coronavirus Insurance Claims to be Settled within 2 Weeks ', 'sub_title' => '', 'summary' => 'November 6: Non-life insurance companies have agreed to settle the insurance claims for coronavirus within two weeks amid complaints from the claimants that they are not receiving compensation.', '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"">November 6: Non-life insurance companies have agreed to settle the insurance claims for coronavirus within two weeks amid complaints from the claimants that they are not receiving compensation.</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 government and the Insurance Board on Tuesday had directed insurance companies to settle the claims within a week of receiving all documents. </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"">However, due to the practical difficulties, the insurance companies are preparing to settle the claims within two weeks. According to a source, there has been preliminary agreement between the Insurance Board and insurance companies in this regard. </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"">A discussion was held between Chief Executive Officers (CEO) of the Insurance Board and insurance companies on Wednesday. </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"">CEO of NLG Insurance Sunil Ballav Pant stated that they are making effort to complete the process within 10 to 12 days. </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"">“There are lots of pending applications. On top of that, the documents received should be verified,” he said, adding, “So it is practically difficult to pay the claim in time. However, the processes are being done so that the claim can be paid within two weeks.” </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"">He further said that in some cases, the PCR report is also likely to be fake and therefore the documents should be properly verified. </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"">Moreover, he said that some people are found to have taken the compensation twice. </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"">“Those who have been insured are trying to cheat regarding the coronavirus insurance. Therefore, it needs to be strictly regulated,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12393', 'image' => '20201106024806_1604619588.Clipboard11.jpg', 'article_date' => '2020-11-06 14:47:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12645', 'article_category_id' => '1', 'title' => 'Government Issues new Order for Management of Valley Transportation', 'sub_title' => '', 'summary' => 'November 6: The government has issued the Valley Public Transport Authority Infrastructure Development Committee Order 2077 for proper management of public transportation in the Kathmandu Valley.', '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"">November 6: The government has issued the Valley Public Transport Authority Infrastructure Development Committee Order 2077 for proper management of public transportation in the Kathmandu Valley.</span></span></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 government had decided to form the Valley Transport Authority two and a half years ago after uprooting the transport syndicate prevalent in the country. Back the, the government had envisaged making the public transportation sector more reliable and properly managed within five years. However, the move faced backlash and was criticized by a certain sector for the central government’s allegedly attempt to interfere in matters of the province in the new federal setup. The government has finally took a cabinet decision in this regard with the issuance of the order.</span></span></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 committee will undertake the task of endorsing the annual plans, programmes and budget of the authority in addition to checking the standard of vehicles in the valley.</span></span></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 government had established a fitness centre in Teku to check the standard of vehicles some 11 years ago. But the centre could not be operated for a long time. The equipment used for testing the vehicles broke down after which the centre had to abort its work. The centre will now be revived and required equipment will be fixed as the authority will be looking after the matter from now onward.</span></span></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"">According to Information Officer at the Department of Transport Management Dr Loknath Bhusal, the committee will prepare all the required infrastructure as well as fix the rate, route permit among others before the bill gets endorsed by the House of Representatives.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12392', 'image' => '20201106011522_20200721030826_1595264681.yatayat.jpg', 'article_date' => '2020-11-06 13:14:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12644', 'article_category_id' => '1', 'title' => 'Prime Minister tells Well Wishers to Brace for the Worst', 'sub_title' => '', 'summary' => 'November 6: Prime Minister and chairman of Nepal Communist Party (NCP) KP Sharma Oli met with executive chairman of the party Pushpa Kamal Dahal on Thursday (November 5) amid intra-party tensions and internal rift inching closer to climax.', '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"">November 6: Prime Minister and chairman of Nepal Communist Party (NCP) KP Sharma Oli met with executive chairman of the party Pushpa Kamal Dahal on Thursday (November 5) amid intra-party tensions and internal rift inching closer to climax.</span></span></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 leaders of the ruling party met after a gap of five days in an attempt to resolve their differences.</span></span></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 the chairmen duo held discussions for two and a half hours, they were unable to reach an understanding on any of the contentious issues.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Dahal had told leaders close to him that Oli, during the last meeting held on Saturday, had proposed parting ways if his faction could not agree to the terms of the prime minister.</span></span></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 internal rift within the party reached the boiling point after Dahal revealed Oli’s proposal to part ways.</span></span></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"">On Wednesday, Oli had said he attained his current position through the support of the people and not by means of any deception and therefore he would not tender his resignation at any cost. The prime minister’s statement had ripple effect within the ruling NCP.</span></span></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 Thursday’s meeting, Dahal reportedly proposed calling the party’s Secretariat Meeting to sort out the differences but Oli stood by his guns saying that the Secretariat Meeting would be useless unless the differences between the two leaders were sorted out first. </span></span></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"">Oli said maintained that some forces have started conspiracy against the government and urged his supporters to brace for any adverse situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12391', 'image' => '20201106103608_1604619379.Clipboard10.jpg', 'article_date' => '2020-11-06 10:35:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12643', 'article_category_id' => '1', 'title' => 'Decorative Lights worth Rs 180 Million Imported for Tihar', 'sub_title' => '', 'summary' => 'November 5: Decorative lights worth Rs 180 million have been imported for the festive season this year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">November 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Decorative lights worth Rs 180 million have been imported for the festive season this year. The local businessmen have imported the electric lights for decoration especially for Tihar and Chhath festivals.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The import of such sparkling lights during the last fiscal year was worth Rs 400 million. The demand for the lights has declined this year due to the coronavirus pandemic, informed Nepal Electronic Entrepreneurs Federation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chairman of the federation, Sundar Prasad Poudel, informed that the electronic goods market of Nepal has shrunk by almost 60 percent this year due to the effects of the pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The decorative lights are imported in Nepal from India and China. Almost 85 percent of them come from China while the remaining 15 percent is imported from 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:"Bangla MN"">During pervious years, the importers used to visit China and India in person to bring the lights. They used to check the standard of the lights and then place the order. However, this year, they were unable to visit the neighbouring countries and had to place the order online, says Shankar Agrawal, who has been involved in the business of importing the decorative lights.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“During the previous years, people used to fix the lights at their houses and compounds soon after Dashain. However, there isn’t any excitement among the people this year. Our business is also not very encouraging this time,” says Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The consumption of decorative lights goes up during Tihar, which is also known as the festival of lights. This year, the five-day festival of Tihar begins from November 12 next week.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12390', 'image' => '20201105052211_1604534186.Clipboard20.jpg', 'article_date' => '2020-11-05 17:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12642', 'article_category_id' => '1', 'title' => 'Indian Businessmen Visit Nepal to Purchase Black Cardamom', 'sub_title' => '', 'summary' => 'November 5: Low production of black cardamom in Assam this year has forced Indian businessmen to set up purchase centers in Nepal to fulfill their demand. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Low production of black cardamom in Assam this year has forced Indian businessmen to set up purchase centers in Nepal to fulfill their demand. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Farmers of Nepal are expecting good price for their produce than last year after the Indian businessmen established purchase centre in Birtamode of Jhapa district.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Chairman of Black Cardamom Producers Association, Raj Kumar Karki, informed that the production of black cardamom in Assam was low this year compared to last year. Due to this, Indian businessmen have set up purchase centers in Birtamode, said Karki. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The price of black cardamom has already increased with the onset of the new season. Nepali exporters can now sell their products under the trademark of ‘Everest Big Cardamom’. The government had registered the trademark on July 3, 2016 with the objective of selling the product under its own brand name. Pakistan has approved the trademark after four years. However, Nepal needs to send the product to Pakistan through land route via India, which is problematic due to the tensions between the two nuclear-armed neighbours.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal hasn’t been able to benefit from the trademark because it is costly to send black cardamom to Pakistan through air cargo, says Karki.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12389', 'image' => '20201105031905_1604533819.Clipboard04.jpg', 'article_date' => '2020-11-05 15:18:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12641', 'article_category_id' => '1', 'title' => 'Goods from Tatopani Customs Entering Nepal at Snail’s Pace', 'sub_title' => '', 'summary' => 'November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. ', '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"">November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. Nepali importers say that goods worth billions of rupees have been stranded in China for months as only small amount of goods are sent through the border. </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"">Nepali businessmen have repeatedly urged the Chinese authorities to send the goods they have already purchased, but the goods have not arrived from China. According to them, even the goods ordered for last winter were stranded in China. </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 checkpoint has opened but the goods of have not arrived," said Bachchu Poudel, president of the Nepal Trans Himalayan Border Commerce Association, adding, "More than 75 percent of the goods bought by businessmen are stuck in China." </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"">Poudel said that the association had repeatedly requested the Chinese authorities to send the goods purchased by the businessmen but they did not listed to the plea. According to him, only 3 to 4 containers of goods are entering Nepal daily. </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"">According to the new policy of health standards, not all the goods bought by the entrepreneurs have been able to enter to Nepal. According to the Tatopani Customs Office, only 19 containers of goods have been imported as of Wednesday (November 4) after the border reopened. </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"">At present, Chinese containers come to the old customs yard on the Nepal side to deliver the goods. Nepali loaders are allowed to bring the goods only after the Chinese workers return from the site.</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"">Lal Bahadur Khatri, chief of the Tatopani Customs Dry Port Office said that goods are being imported according to the new policy of health standards under which Nepali loaders have to stay in quarantine facility. They have to undergo PCR tests every fortnight to ensure that they are not infected. </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"">So far, only apples and readymade garments have been imported through the customs point, informed Khatri.</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"">At this pace, it will take almost one year for the goods bought by the Nepali importers to enter Nepal, added Khatri.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12388', 'image' => '20201105025427_1604533890.Clipboard09.jpg', 'article_date' => '2020-11-05 14:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12639', 'article_category_id' => '1', 'title' => 'Soybean Oil Replaces Palm Oil as Nepal’s Major Export Product ', 'sub_title' => '', 'summary' => 'November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the data kept by the Trade and Export Promotion Centre (TEPC), refined soybean oil has emerged as the main export product of Nepal in the first three months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The export of soybean oil accounts for 24.5 percent of the total export of Nepal. Soybean oil is exported to India in large quantity because the product enjoys customs waiver facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the last fiscal year, refined palm oil had topped the list of products exported from Nepal to India. Refined palm oil worth Rs 18.31 billion was exported to India in the fiscal year 2019/20. However, the export of palm oil to India came to a halt after the Foreign Trade Directorate of India scrapped the license of palm oil importers in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first three months of the current fiscal year, the export of soybean oil has increased by 414 percent. During the corresponding period of last fiscal year, Nepal had exported soybean oil worth Rs 1.47 billion. The export of the same product has gone up to Rs 7.6 billion in the review period of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industrialists increased production of soybean oil after India imposed a ban on it. The industrialists say that the export increases naturally once the production is increased.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Operator of Shree Ram Refinery Pradeep Muraraka says that there is high demand for soybean oil in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industries import soybean from Argentina, Brazil, Paraguay, Indonesia and Ukraine and then refine the product to produce soybean oil. The refined oil is then sold to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The local industries have imported soybean worth Rs 8.13 billion in the first three months of the current fiscal year. The import of soybean during the corresponding period of last fiscal year was worth Rs 3.18 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12387', 'image' => '20201105113227_1604533724.Clipboard15.jpg', 'article_date' => '2020-11-05 11:31:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12640', 'article_category_id' => '1', 'title' => 'Construction of Nagdhunga-Naubise Tunnel Project Gains Momentum', 'sub_title' => '', 'summary' => 'November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. A technical team of the contractor company Hamza Ando Corporation as well as necessary equipment have already arrived at the construction site. The work of digging the tunnel is expected to get completed within two weeks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Nagdhunga-Naubise Tunnel Project will start digging the tunnel from the western side at Sisnekhola. Later, the tunnel will also be dug from the eastern side or Kathmandu, informed acting project chief Naresh Man Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The timeframe for completion of the project had been delayed due to the problems in bringing machines and technical team to the field. Now, the work has been resumed to compensate for the delay.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The work could not be done as per the schedule. In order to avoid the possibility of extending the contract agreement, we have set a target to work accordingly to meet the deadline,” said Shakya, adding, “Looking at the current progress, the chances of delay are slim.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the agreement signed with the Department of Roads, the contractor must complete the project within 42 months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A 20-member technical team from Japan is arriving for drilling works while the process to bring in additional 20 technicians is underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The contractor company has already brought 300 tons of explosives to the construction site while its total requirement of explosives is 900 tons.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The foundation stone of the project was laid on October 21, 2019 but the main work of tunnel construction will begin only after a year. Currently, the project officials are building culverts and other supporting structures.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project officials claim that they will complete the work on time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project is being undertaken with the concessional loan provided by the Government of Japan. The total investment for the project is estimated to be around Rs 22 billion. JICA will invest Rs 16 billion while the Government of Nepal will contribute Rs 6 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The tunnel will be of 2.7 kilometers long and will have two flyovers. The project will also cover 3 kilometers of road. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Thankot-Naubise road section is currently 9 kilometers long. The distance will be shortened to 5.7 kilometers once the tunnel is constructed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/111%281%29%281%29.jpg" style="height:215px; width:800px" /></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12386', 'image' => '20201105124818_20200308111704_adahjj.jpg', 'article_date' => '2020-11-05 12:45:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12638', 'article_category_id' => '1', 'title' => 'Government Instructs Insurance Companies to Settle Covid-19 Insurance Claims within 7 Days', 'sub_title' => '', 'summary' => 'November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government issued such instructions in accordance to the laws related to coronavirus insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance on Tuesday (November 3) issued such directive to the Insurance Board. Following the instruction from the government, the Insurance Board on the same day issued a circular to all insurance companies telling them to settle the insurance claims of Covid-19 cases within the timeframe set by the law.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Insurance Board has clearly stated in the circular that all insurance companies must settle the claims within seven days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director of the Insurance Board Raju Raman Poudel informed that the board instructed the insurance companies to settle the claims within seven days as per the instruction of the finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We received a letter from the finance ministry in this regard on Tuesday. We then issued the circular the same day,” said Poudel, adding, “Hopefully, patients infected with coronavirus will now receive compensation on time. The pending claims will also be settled soon.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12385', 'image' => '20201104043538_1604447588.Clipboard12.jpg', 'article_date' => '2020-11-04 16:35:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12637', 'article_category_id' => '1', 'title' => 'NRB to Provide Refinancing Facility within mid-December', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown. The demand for the refinancing facility has currently reached Rs 113 billion.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The central bank had instructed Banks and Financial Institutions (BFIs) to submit applications for lump sum refinancing to old borrowers at concessional interest rates by the end of Ashoj (mid-October). The regulatory department of Nepal Rastra Bank is working on the analysis and evaluation of the applications received to provide refinancing facility in the coming month of Mangshir (mid-November to mid-December).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, the borrowers of 44 banks and financial institutions have applied for refinancing of up to Rs 72 billion as of the end of Ashoj (mid-October).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""> “Apart from this, there is a demand of Rs 41 billion from debtors. Out of the total demand of Rs 41 billion, the highest number of refinancing applications has been received from Bagmati Province,” he said, adding, “Work is being done to make the refinancing facility available by the end of Mangshir (mid-December).”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Out of the total refinancing facility of Rs 200 billion, 70 percent of refinancing facility will be given through commercial banks, development banks and finance companies in the current fiscal year. Meanwhile, 20 percent refinancing will be distributed by the central bank on the basis of its evaluation. The remaining 10 percent will be distributed through microfinance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Athough the central bank had announced opening of applications for refinancing from A, B, and C class banks in the last two months, the applications for refinancing through microfinance has not been opened. NRB Spokesperson Bhatta says that the first priority was initially given to the highly affected and moderately affected sectors like hotels, tourism, etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to him, only the current debtors affected by COVID-19 will be able to get such loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The repayment period of the borrower should be at least 1 year in order for them to be eligible for refinancing facility. In case of a borrower, who has availed a loan through more than one bank and financial institution, the application will be accepted only in a non-recurring manner.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks should include at least five customers and borrowers from each branch when selecting a loan for application. Nepal Rastra Bank has stated that it will not accept applications if they are submitted without following the proper procedures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Liquidity in the market is expected to rise highly after the one-time refinancing is given to those who meet the criteria. At present, there is liquidity of Rs 201 billion in the market. After disbursing the refinancing amount, the banks will have to reduce the interest rate on the loan given to the old borrower affected by COVID-19 to 5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The refinancing procedure provides loan amount of up to Rs 1.5 million as 'micro, home and small enterprise loans'. Refinancing given by prioritizing a sector will be considered as special refinancing. This includes exports, women entrepreneurs, enterprises and businesses run by differently abled individuals, and refinancing provided in areas affected by natural disasters. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The lump sum refinancing period will be limited to one year at most and such loan will not be renewed. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12384', 'image' => '20201104033822_1604447658.Clipboard17.jpg', 'article_date' => '2020-11-04 15:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12651', 'article_category_id' => '1', 'title' => 'Lack of Coordination Among Different Tiers of Government Takes Toll on Tourism Revival', 'sub_title' => '', 'summary' => 'November 8: Tourism activities which resumed after seven months of restrictions have been affected once again due to lack of coordination among the government bodies.', '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"">November 8: Tourism activities which resumed after seven months of restrictions have been affected once again due to lack of coordination among the government bodies.</span></span></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 tourism industry remained closed ever since March for seven months due to the impact of coronavirus. The government recently granted permission to reopen trekking and mountaineering on October 17. However, tourism activities and flights remain disrupted in some tourism destinations due to prohibitory orders issued by the local units. </span></span></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 tourism industry is returning back on track after a long time. Tourists have started arriving for trekking and mountaineering. The government had earlier banned all activities related to trekking and mountaineering during the spring season. But it later decided to revoke the ban after lifting the lockdown a few months ago. However, the restrictions are yet to be removed by various local units.</span></span></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"">Khumbu Pasang Lhamu Rural Municipality of Soluhumbu district issued a notice to the Civil Aviation Authority of Nepal (CAAN) and the Lukla-based Tenjing Hillary Airport on October 23 instructing all the airline companies not to bring any passengers to the airport until another notice.</span></span></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"">In contrast, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai has been claiming that Nepal is a safe destination for international tourists following recent high-profile visits by foreign delegates for mountaineering. The conflicting move of the rural municipality comes amid the minister’s claim that the government is preparing to open other tourism activities in the country after allowing trekking and mountain expeditions. This clearly indicates lack of coordination among the three levels of government.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Secretary of Nepal Mountaineering Association, Tikaram Gurung, besides Khumbu the locals of Ghalegaun in Annapurna region have also banned the entry of tourists citing the risk of coronavirus. The said that the tourism industry that had been crawling back to normalcy has been affected due to the lack of coordination among the three tiers of government.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Gurung was of the view that instead of imposing a ban, the local authorities should have allowed tourists after PCR tests.</span></span></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 confusion because the government has announced reopening of the tourism sector but its actions indicate otherwise,” said Gurung.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12398', 'image' => '20201108023033_1604792178.Clipboard06.jpg', 'article_date' => '2020-11-08 14:30:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12650', 'article_category_id' => '1', 'title' => 'Prices of Dry Fruits and other essentials for Tihar Decline', 'sub_title' => '', 'summary' => 'November 8: The demand for dry fruits, which is excessively used during the festival of Tihar, has gone down this year. ', '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"">November 8: The demand for dry fruits, which is excessively used during the festival of Tihar, has gone down this year. The price of dry fruits has also declined with the decrease in demand for the much needed-item.</span></span></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"">Businessmen believe that the demand for dry fruits has declined because of the decline in purchasing power of the people due to the coronavirus pandemic.</span></span></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 sale of dry fruits normally goes up by 50 percent during Tihar compared to normal days but this year the sale is hovering around 30 percent, says Raj Kumar Shrestha, chairman of Retail Business Association.</span></span></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 says that hotels and restaurants as well as sweet shops that normally buy large quantities of dry fruits have not been operation in optimal condition. This is also one of the reasons for the decline in demand for dry fruits, says Shrestha.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shrestha says that businessmen are considering to sell the dry fruits at lower price this year fearing that the goods stored for long time in their godown might get damaged.</span></span></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 association informed that the price of dry fruits has decreased by Rs 200 per kilogram in the retail market compared to previous years. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of pistachio has declined by Rs 50 per kg and is currently being sold at Rs 1850.</span></span></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 cashew nuts has dropped from Rs 1750 to Rs 1550 per kilogram. The association informed that the prices of apricot, beetle nuts, small cardamom among others have also declined.</span></span></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"">Pabitra Bajracharya, a retail store owner, says that the demand for sugar and flour used to increase during Tihar in previous years. But it has not happened this year. Instead, they are finding it difficult to sell the products.</span></span></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"">Businessmen used to trade goods including spices and dry fruits worth Rs 600 million in Tihar. Most of them used to be imported from 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"">According to the Trade and Export Promotion Centre, Nepal imported dry fruits and other essentials for Tihar worth Rs 1.46 billion in the current fiscal year. The import of the same goods during last year was worth Rs 4 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12397', 'image' => '20201108122407_1604793552.Clipboard18.jpg', 'article_date' => '2020-11-08 12:23:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12649', 'article_category_id' => '1', 'title' => 'Nepali Importers Paying 17 times more to Import Goods from China', 'sub_title' => '', 'summary' => 'November 8: Nepal’s international border transit points with China, which was closed since late January, haven’t become fully operational. ', '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"">November 8: Nepal’s international border transit points with China, which was closed since late January, haven’t become fully operational. </span></span></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"">After the Covid-19 restrictions were lifted and border reopened, Chinese authorities have been delivering goods near the border area every day. China has been sending around five containers of goods in the border area, which lies in their territory. However, Nepali side has not been allowed to take their container across the border to that particular 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"">China had closed its border points with Nepal in late January following a rise in coronavirus cases in the country. Due to repeated requests from the Government of Nepal, China agreed to reopen the border in June/July but it limited the trade to five containers per day.</span></span></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"">Due to pressure from the Ministry of Industry, Commerce and Supplies, China agreed to facilitate the flow of goods in September/October but again reimposed restrictions in October/November. Most of the northern border points of Nepal are almost closed. Nepali importers say they are hardly able to bring in five containers of goods per day.</span></span></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"">Before January, Nepali importers used to take their own containers across the border and bring back goods. They had to pay around Rs 7 to 8 million for bringing goods in their own containers. However, China denied permission for Nepali containers to enter its territory due to coronavirus crisis. </span></span></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 transportation charge skyrocketed after China decided to transport goods up to the border points. Nepali importers say they have to spend at least Rs 1.2 million to import just one container of 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"">“Chinese containers supply goods just up to the border point. Nepali containers are not allowed to enter China anymore,” informed Bachhu Poudel, chairman of the Nepal Trans Himalayan Border Commerce Association (NTHBCA).</span></span></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"">“Earlier, it used to cost Rs 80,000 to transport the goods from across the border but the price has now shot up to Rs 1.2 million.</span></span></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"">According to the association, goods stuck across the border have started entering Nepal after 11 months but more than 2200 containers are still stranded in China.</span></span></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"">Some importers have returned the goods while others are still waiting for the consignment, informed 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"">“We are unaware about the condition of the goods. We don’t know whether the goods have rotten or not. On top of that, the transportation cost has increased 17 folds,” said 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"">Poudel said that although the government has assured to facilitate the flow of goods, there hasn’t been any progress.</span></span></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 of the association, Lopsang Sherpa, said that they have informed the customs office about the exorbitant price they have to pay across the border but the government is yet to address their issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He said that China has reportedly decided to end the rotation of its containers after November 14 and they are currently in a “wait and watch” situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12396', 'image' => '20201108114816_1604792852.Clipboard12.jpg', 'article_date' => '2020-11-08 11:47:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12648', 'article_category_id' => '1', 'title' => 'BFIs Report Decline in number of Blacklisted Customers ', 'sub_title' => '', 'summary' => 'November 6: The number of customers on the blacklist of Banks and Financial Institutions (BFIs), which had increased during the lockdown period, has now declined. ', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 6: The number of customers on the blacklist of Banks and Financial Institutions (BFIs), which had increased during the lockdown period, has now declined. The number of customers on the blacklist had skyrocketed when the government imposed a nationwide lockdown and prohibitory order from March 24 to mid-July.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">In the month of June/July, 9,626 borrowers were blacklisted by BFIs. But that number has dropped to 359 now. According to the Credit Information Center, inclusion of the names of customers that bounced their cheques during the lockdown in the blacklist was the reason for the increase in blacklisted customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to the Center, 10,732 people were added to the blacklist from April to the end of August. However, the number has plummeted now. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">"From that period until last Thursday (November 5), the number has dropped as most of the check bouncers have been removed from the blacklist after correcting their mistake and making the payments to the check bearer," the center said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Nepal Rastra Bank (NRB) had issued a unified directive on mid-August 2019, making an arrangement to blacklist the person, firm, company or organization issuing the check if they signed the check incorrectly and did not pay the amount within one year due to insufficient amount. Earlier, check issuers were blacklisted only if they were found to have bounced checks repeatedly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">With the removal of the names added during the lockdown from the blacklist, only 212 names in March, 84 names in April, 359 names in May, 359 names in June, 443 names in July and 313 names in August remain in the blacklist.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Bhuvan Kumar Dahal, the chairman of the Nepal Bankers' Association, says that the blacklist has not increased as the entrepreneurs or businesses that weren’t able to repay their loans during the lockdown were not converted into non-performing loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">"We have not blacklisted bad debtors because of COVID-19. The new non-performing loans have not been blacklisted and the old ones have been making their repayments," he said, adding, “More names have been sent for the blacklist for bouncing cheques.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks and financial institutions issue circulars to the credit information center to blacklist customers listing the names of customers with loans that are inactive or overdue, and customers giving bounced cheques. The center then blacklists such debtors. Banks and financial institutions are not allowed to provide loans to blacklisted borrowers. In addition, the blacklisted person is denied various facilities from the state.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12395', 'image' => '20201106055408_Nepal_Rastra_Bank2.jpg', 'article_date' => '2020-11-06 17:53:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12647', 'article_category_id' => '1', 'title' => ''Hotel Industry of Province 1 in Extreme Crisis'', 'sub_title' => '', 'summary' => 'November 6: The government has announced concessional loans as a relief to the tourism industry that has been badly affected by coronavirus. ', '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"">November 6: The government has announced concessional loans as a relief to the tourism industry that has been badly affected by coronavirus. However, hotels in Province 1 have started to close one after another due to the problems in meeting the operational costs. </span></span></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 the lockdown and prohibitory order have been lifted, the hotel industry is struggling due to lack of tourists. </span></span></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"">Hotel Asiatique of Biratnagar has converted itself into a 100-bed isolation centre after the arrival of tourists stopped.</span></span></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"">Operator of the hotel Punya Bhattarai, who is also the provincial chairman of Nepal Association of Travel Agents (NATA), informed that they were forced to convert the hotel into an isolation centre after failing to raise the operational costs.</span></span></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 says that the hotel business had started to return back on track after the lockdown was lifted. However, their business has again declined due to the rise in number of coronavirus cases across the country. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bhattarai informed that the reason behind the closure of two big hotels of Biratnagar including Genelia and Namaskar is the failure to meet the operational cost.</span></span></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 says that the tourism industry in Province 1 is under existential crisis as the old hotels have started closing down while the new ones are unable to start their business.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12394', 'image' => '20201106031330_0410441105700_Clipboard37 2.jpg', 'article_date' => '2020-11-06 15:12:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12646', 'article_category_id' => '1', 'title' => 'Coronavirus Insurance Claims to be Settled within 2 Weeks ', 'sub_title' => '', 'summary' => 'November 6: Non-life insurance companies have agreed to settle the insurance claims for coronavirus within two weeks amid complaints from the claimants that they are not receiving compensation.', '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"">November 6: Non-life insurance companies have agreed to settle the insurance claims for coronavirus within two weeks amid complaints from the claimants that they are not receiving compensation.</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 government and the Insurance Board on Tuesday had directed insurance companies to settle the claims within a week of receiving all documents. </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"">However, due to the practical difficulties, the insurance companies are preparing to settle the claims within two weeks. According to a source, there has been preliminary agreement between the Insurance Board and insurance companies in this regard. </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"">A discussion was held between Chief Executive Officers (CEO) of the Insurance Board and insurance companies on Wednesday. </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"">CEO of NLG Insurance Sunil Ballav Pant stated that they are making effort to complete the process within 10 to 12 days. </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"">“There are lots of pending applications. On top of that, the documents received should be verified,” he said, adding, “So it is practically difficult to pay the claim in time. However, the processes are being done so that the claim can be paid within two weeks.” </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"">He further said that in some cases, the PCR report is also likely to be fake and therefore the documents should be properly verified. </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"">Moreover, he said that some people are found to have taken the compensation twice. </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"">“Those who have been insured are trying to cheat regarding the coronavirus insurance. Therefore, it needs to be strictly regulated,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12393', 'image' => '20201106024806_1604619588.Clipboard11.jpg', 'article_date' => '2020-11-06 14:47:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12645', 'article_category_id' => '1', 'title' => 'Government Issues new Order for Management of Valley Transportation', 'sub_title' => '', 'summary' => 'November 6: The government has issued the Valley Public Transport Authority Infrastructure Development Committee Order 2077 for proper management of public transportation in the Kathmandu Valley.', '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"">November 6: The government has issued the Valley Public Transport Authority Infrastructure Development Committee Order 2077 for proper management of public transportation in the Kathmandu Valley.</span></span></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 government had decided to form the Valley Transport Authority two and a half years ago after uprooting the transport syndicate prevalent in the country. Back the, the government had envisaged making the public transportation sector more reliable and properly managed within five years. However, the move faced backlash and was criticized by a certain sector for the central government’s allegedly attempt to interfere in matters of the province in the new federal setup. The government has finally took a cabinet decision in this regard with the issuance of the order.</span></span></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 committee will undertake the task of endorsing the annual plans, programmes and budget of the authority in addition to checking the standard of vehicles in the valley.</span></span></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 government had established a fitness centre in Teku to check the standard of vehicles some 11 years ago. But the centre could not be operated for a long time. The equipment used for testing the vehicles broke down after which the centre had to abort its work. The centre will now be revived and required equipment will be fixed as the authority will be looking after the matter from now onward.</span></span></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"">According to Information Officer at the Department of Transport Management Dr Loknath Bhusal, the committee will prepare all the required infrastructure as well as fix the rate, route permit among others before the bill gets endorsed by the House of Representatives.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12392', 'image' => '20201106011522_20200721030826_1595264681.yatayat.jpg', 'article_date' => '2020-11-06 13:14:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12644', 'article_category_id' => '1', 'title' => 'Prime Minister tells Well Wishers to Brace for the Worst', 'sub_title' => '', 'summary' => 'November 6: Prime Minister and chairman of Nepal Communist Party (NCP) KP Sharma Oli met with executive chairman of the party Pushpa Kamal Dahal on Thursday (November 5) amid intra-party tensions and internal rift inching closer to climax.', '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"">November 6: Prime Minister and chairman of Nepal Communist Party (NCP) KP Sharma Oli met with executive chairman of the party Pushpa Kamal Dahal on Thursday (November 5) amid intra-party tensions and internal rift inching closer to climax.</span></span></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 leaders of the ruling party met after a gap of five days in an attempt to resolve their differences.</span></span></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 the chairmen duo held discussions for two and a half hours, they were unable to reach an understanding on any of the contentious issues.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Dahal had told leaders close to him that Oli, during the last meeting held on Saturday, had proposed parting ways if his faction could not agree to the terms of the prime minister.</span></span></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 internal rift within the party reached the boiling point after Dahal revealed Oli’s proposal to part ways.</span></span></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"">On Wednesday, Oli had said he attained his current position through the support of the people and not by means of any deception and therefore he would not tender his resignation at any cost. The prime minister’s statement had ripple effect within the ruling NCP.</span></span></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 Thursday’s meeting, Dahal reportedly proposed calling the party’s Secretariat Meeting to sort out the differences but Oli stood by his guns saying that the Secretariat Meeting would be useless unless the differences between the two leaders were sorted out first. </span></span></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"">Oli said maintained that some forces have started conspiracy against the government and urged his supporters to brace for any adverse situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12391', 'image' => '20201106103608_1604619379.Clipboard10.jpg', 'article_date' => '2020-11-06 10:35:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12643', 'article_category_id' => '1', 'title' => 'Decorative Lights worth Rs 180 Million Imported for Tihar', 'sub_title' => '', 'summary' => 'November 5: Decorative lights worth Rs 180 million have been imported for the festive season this year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">November 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Decorative lights worth Rs 180 million have been imported for the festive season this year. The local businessmen have imported the electric lights for decoration especially for Tihar and Chhath festivals.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The import of such sparkling lights during the last fiscal year was worth Rs 400 million. The demand for the lights has declined this year due to the coronavirus pandemic, informed Nepal Electronic Entrepreneurs Federation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chairman of the federation, Sundar Prasad Poudel, informed that the electronic goods market of Nepal has shrunk by almost 60 percent this year due to the effects of the pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The decorative lights are imported in Nepal from India and China. Almost 85 percent of them come from China while the remaining 15 percent is imported from 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:"Bangla MN"">During pervious years, the importers used to visit China and India in person to bring the lights. They used to check the standard of the lights and then place the order. However, this year, they were unable to visit the neighbouring countries and had to place the order online, says Shankar Agrawal, who has been involved in the business of importing the decorative lights.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“During the previous years, people used to fix the lights at their houses and compounds soon after Dashain. However, there isn’t any excitement among the people this year. Our business is also not very encouraging this time,” says Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The consumption of decorative lights goes up during Tihar, which is also known as the festival of lights. This year, the five-day festival of Tihar begins from November 12 next week.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12390', 'image' => '20201105052211_1604534186.Clipboard20.jpg', 'article_date' => '2020-11-05 17:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12642', 'article_category_id' => '1', 'title' => 'Indian Businessmen Visit Nepal to Purchase Black Cardamom', 'sub_title' => '', 'summary' => 'November 5: Low production of black cardamom in Assam this year has forced Indian businessmen to set up purchase centers in Nepal to fulfill their demand. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Low production of black cardamom in Assam this year has forced Indian businessmen to set up purchase centers in Nepal to fulfill their demand. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Farmers of Nepal are expecting good price for their produce than last year after the Indian businessmen established purchase centre in Birtamode of Jhapa district.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Chairman of Black Cardamom Producers Association, Raj Kumar Karki, informed that the production of black cardamom in Assam was low this year compared to last year. Due to this, Indian businessmen have set up purchase centers in Birtamode, said Karki. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The price of black cardamom has already increased with the onset of the new season. Nepali exporters can now sell their products under the trademark of ‘Everest Big Cardamom’. The government had registered the trademark on July 3, 2016 with the objective of selling the product under its own brand name. Pakistan has approved the trademark after four years. However, Nepal needs to send the product to Pakistan through land route via India, which is problematic due to the tensions between the two nuclear-armed neighbours.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal hasn’t been able to benefit from the trademark because it is costly to send black cardamom to Pakistan through air cargo, says Karki.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12389', 'image' => '20201105031905_1604533819.Clipboard04.jpg', 'article_date' => '2020-11-05 15:18:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12641', 'article_category_id' => '1', 'title' => 'Goods from Tatopani Customs Entering Nepal at Snail’s Pace', 'sub_title' => '', 'summary' => 'November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. ', '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"">November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. Nepali importers say that goods worth billions of rupees have been stranded in China for months as only small amount of goods are sent through the border. </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"">Nepali businessmen have repeatedly urged the Chinese authorities to send the goods they have already purchased, but the goods have not arrived from China. According to them, even the goods ordered for last winter were stranded in China. </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 checkpoint has opened but the goods of have not arrived," said Bachchu Poudel, president of the Nepal Trans Himalayan Border Commerce Association, adding, "More than 75 percent of the goods bought by businessmen are stuck in China." </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"">Poudel said that the association had repeatedly requested the Chinese authorities to send the goods purchased by the businessmen but they did not listed to the plea. According to him, only 3 to 4 containers of goods are entering Nepal daily. </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"">According to the new policy of health standards, not all the goods bought by the entrepreneurs have been able to enter to Nepal. According to the Tatopani Customs Office, only 19 containers of goods have been imported as of Wednesday (November 4) after the border reopened. </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"">At present, Chinese containers come to the old customs yard on the Nepal side to deliver the goods. Nepali loaders are allowed to bring the goods only after the Chinese workers return from the site.</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"">Lal Bahadur Khatri, chief of the Tatopani Customs Dry Port Office said that goods are being imported according to the new policy of health standards under which Nepali loaders have to stay in quarantine facility. They have to undergo PCR tests every fortnight to ensure that they are not infected. </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"">So far, only apples and readymade garments have been imported through the customs point, informed Khatri.</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"">At this pace, it will take almost one year for the goods bought by the Nepali importers to enter Nepal, added Khatri.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12388', 'image' => '20201105025427_1604533890.Clipboard09.jpg', 'article_date' => '2020-11-05 14:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12639', 'article_category_id' => '1', 'title' => 'Soybean Oil Replaces Palm Oil as Nepal’s Major Export Product ', 'sub_title' => '', 'summary' => 'November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the data kept by the Trade and Export Promotion Centre (TEPC), refined soybean oil has emerged as the main export product of Nepal in the first three months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The export of soybean oil accounts for 24.5 percent of the total export of Nepal. Soybean oil is exported to India in large quantity because the product enjoys customs waiver facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the last fiscal year, refined palm oil had topped the list of products exported from Nepal to India. Refined palm oil worth Rs 18.31 billion was exported to India in the fiscal year 2019/20. However, the export of palm oil to India came to a halt after the Foreign Trade Directorate of India scrapped the license of palm oil importers in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first three months of the current fiscal year, the export of soybean oil has increased by 414 percent. During the corresponding period of last fiscal year, Nepal had exported soybean oil worth Rs 1.47 billion. The export of the same product has gone up to Rs 7.6 billion in the review period of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industrialists increased production of soybean oil after India imposed a ban on it. The industrialists say that the export increases naturally once the production is increased.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Operator of Shree Ram Refinery Pradeep Muraraka says that there is high demand for soybean oil in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industries import soybean from Argentina, Brazil, Paraguay, Indonesia and Ukraine and then refine the product to produce soybean oil. The refined oil is then sold to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The local industries have imported soybean worth Rs 8.13 billion in the first three months of the current fiscal year. The import of soybean during the corresponding period of last fiscal year was worth Rs 3.18 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12387', 'image' => '20201105113227_1604533724.Clipboard15.jpg', 'article_date' => '2020-11-05 11:31:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12640', 'article_category_id' => '1', 'title' => 'Construction of Nagdhunga-Naubise Tunnel Project Gains Momentum', 'sub_title' => '', 'summary' => 'November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. A technical team of the contractor company Hamza Ando Corporation as well as necessary equipment have already arrived at the construction site. The work of digging the tunnel is expected to get completed within two weeks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Nagdhunga-Naubise Tunnel Project will start digging the tunnel from the western side at Sisnekhola. Later, the tunnel will also be dug from the eastern side or Kathmandu, informed acting project chief Naresh Man Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The timeframe for completion of the project had been delayed due to the problems in bringing machines and technical team to the field. Now, the work has been resumed to compensate for the delay.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The work could not be done as per the schedule. In order to avoid the possibility of extending the contract agreement, we have set a target to work accordingly to meet the deadline,” said Shakya, adding, “Looking at the current progress, the chances of delay are slim.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the agreement signed with the Department of Roads, the contractor must complete the project within 42 months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A 20-member technical team from Japan is arriving for drilling works while the process to bring in additional 20 technicians is underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The contractor company has already brought 300 tons of explosives to the construction site while its total requirement of explosives is 900 tons.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The foundation stone of the project was laid on October 21, 2019 but the main work of tunnel construction will begin only after a year. Currently, the project officials are building culverts and other supporting structures.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project officials claim that they will complete the work on time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project is being undertaken with the concessional loan provided by the Government of Japan. The total investment for the project is estimated to be around Rs 22 billion. JICA will invest Rs 16 billion while the Government of Nepal will contribute Rs 6 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The tunnel will be of 2.7 kilometers long and will have two flyovers. The project will also cover 3 kilometers of road. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Thankot-Naubise road section is currently 9 kilometers long. The distance will be shortened to 5.7 kilometers once the tunnel is constructed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/111%281%29%281%29.jpg" style="height:215px; width:800px" /></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12386', 'image' => '20201105124818_20200308111704_adahjj.jpg', 'article_date' => '2020-11-05 12:45:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12638', 'article_category_id' => '1', 'title' => 'Government Instructs Insurance Companies to Settle Covid-19 Insurance Claims within 7 Days', 'sub_title' => '', 'summary' => 'November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government issued such instructions in accordance to the laws related to coronavirus insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance on Tuesday (November 3) issued such directive to the Insurance Board. Following the instruction from the government, the Insurance Board on the same day issued a circular to all insurance companies telling them to settle the insurance claims of Covid-19 cases within the timeframe set by the law.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Insurance Board has clearly stated in the circular that all insurance companies must settle the claims within seven days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director of the Insurance Board Raju Raman Poudel informed that the board instructed the insurance companies to settle the claims within seven days as per the instruction of the finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We received a letter from the finance ministry in this regard on Tuesday. We then issued the circular the same day,” said Poudel, adding, “Hopefully, patients infected with coronavirus will now receive compensation on time. The pending claims will also be settled soon.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12385', 'image' => '20201104043538_1604447588.Clipboard12.jpg', 'article_date' => '2020-11-04 16:35:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12637', 'article_category_id' => '1', 'title' => 'NRB to Provide Refinancing Facility within mid-December', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown. The demand for the refinancing facility has currently reached Rs 113 billion.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The central bank had instructed Banks and Financial Institutions (BFIs) to submit applications for lump sum refinancing to old borrowers at concessional interest rates by the end of Ashoj (mid-October). The regulatory department of Nepal Rastra Bank is working on the analysis and evaluation of the applications received to provide refinancing facility in the coming month of Mangshir (mid-November to mid-December).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, the borrowers of 44 banks and financial institutions have applied for refinancing of up to Rs 72 billion as of the end of Ashoj (mid-October).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""> “Apart from this, there is a demand of Rs 41 billion from debtors. Out of the total demand of Rs 41 billion, the highest number of refinancing applications has been received from Bagmati Province,” he said, adding, “Work is being done to make the refinancing facility available by the end of Mangshir (mid-December).”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Out of the total refinancing facility of Rs 200 billion, 70 percent of refinancing facility will be given through commercial banks, development banks and finance companies in the current fiscal year. Meanwhile, 20 percent refinancing will be distributed by the central bank on the basis of its evaluation. The remaining 10 percent will be distributed through microfinance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Athough the central bank had announced opening of applications for refinancing from A, B, and C class banks in the last two months, the applications for refinancing through microfinance has not been opened. NRB Spokesperson Bhatta says that the first priority was initially given to the highly affected and moderately affected sectors like hotels, tourism, etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to him, only the current debtors affected by COVID-19 will be able to get such loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The repayment period of the borrower should be at least 1 year in order for them to be eligible for refinancing facility. In case of a borrower, who has availed a loan through more than one bank and financial institution, the application will be accepted only in a non-recurring manner.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks should include at least five customers and borrowers from each branch when selecting a loan for application. Nepal Rastra Bank has stated that it will not accept applications if they are submitted without following the proper procedures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Liquidity in the market is expected to rise highly after the one-time refinancing is given to those who meet the criteria. At present, there is liquidity of Rs 201 billion in the market. After disbursing the refinancing amount, the banks will have to reduce the interest rate on the loan given to the old borrower affected by COVID-19 to 5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The refinancing procedure provides loan amount of up to Rs 1.5 million as 'micro, home and small enterprise loans'. Refinancing given by prioritizing a sector will be considered as special refinancing. This includes exports, women entrepreneurs, enterprises and businesses run by differently abled individuals, and refinancing provided in areas affected by natural disasters. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The lump sum refinancing period will be limited to one year at most and such loan will not be renewed. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12384', 'image' => '20201104033822_1604447658.Clipboard17.jpg', 'article_date' => '2020-11-04 15:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12651', 'article_category_id' => '1', 'title' => 'Lack of Coordination Among Different Tiers of Government Takes Toll on Tourism Revival', 'sub_title' => '', 'summary' => 'November 8: Tourism activities which resumed after seven months of restrictions have been affected once again due to lack of coordination among the government bodies.', '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"">November 8: Tourism activities which resumed after seven months of restrictions have been affected once again due to lack of coordination among the government bodies.</span></span></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 tourism industry remained closed ever since March for seven months due to the impact of coronavirus. The government recently granted permission to reopen trekking and mountaineering on October 17. However, tourism activities and flights remain disrupted in some tourism destinations due to prohibitory orders issued by the local units. </span></span></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 tourism industry is returning back on track after a long time. Tourists have started arriving for trekking and mountaineering. The government had earlier banned all activities related to trekking and mountaineering during the spring season. But it later decided to revoke the ban after lifting the lockdown a few months ago. However, the restrictions are yet to be removed by various local units.</span></span></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"">Khumbu Pasang Lhamu Rural Municipality of Soluhumbu district issued a notice to the Civil Aviation Authority of Nepal (CAAN) and the Lukla-based Tenjing Hillary Airport on October 23 instructing all the airline companies not to bring any passengers to the airport until another notice.</span></span></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"">In contrast, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai has been claiming that Nepal is a safe destination for international tourists following recent high-profile visits by foreign delegates for mountaineering. The conflicting move of the rural municipality comes amid the minister’s claim that the government is preparing to open other tourism activities in the country after allowing trekking and mountain expeditions. This clearly indicates lack of coordination among the three levels of government.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Secretary of Nepal Mountaineering Association, Tikaram Gurung, besides Khumbu the locals of Ghalegaun in Annapurna region have also banned the entry of tourists citing the risk of coronavirus. The said that the tourism industry that had been crawling back to normalcy has been affected due to the lack of coordination among the three tiers of government.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Gurung was of the view that instead of imposing a ban, the local authorities should have allowed tourists after PCR tests.</span></span></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 confusion because the government has announced reopening of the tourism sector but its actions indicate otherwise,” said Gurung.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12398', 'image' => '20201108023033_1604792178.Clipboard06.jpg', 'article_date' => '2020-11-08 14:30:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12650', 'article_category_id' => '1', 'title' => 'Prices of Dry Fruits and other essentials for Tihar Decline', 'sub_title' => '', 'summary' => 'November 8: The demand for dry fruits, which is excessively used during the festival of Tihar, has gone down this year. ', '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"">November 8: The demand for dry fruits, which is excessively used during the festival of Tihar, has gone down this year. The price of dry fruits has also declined with the decrease in demand for the much needed-item.</span></span></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"">Businessmen believe that the demand for dry fruits has declined because of the decline in purchasing power of the people due to the coronavirus pandemic.</span></span></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 sale of dry fruits normally goes up by 50 percent during Tihar compared to normal days but this year the sale is hovering around 30 percent, says Raj Kumar Shrestha, chairman of Retail Business Association.</span></span></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 says that hotels and restaurants as well as sweet shops that normally buy large quantities of dry fruits have not been operation in optimal condition. This is also one of the reasons for the decline in demand for dry fruits, says Shrestha.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shrestha says that businessmen are considering to sell the dry fruits at lower price this year fearing that the goods stored for long time in their godown might get damaged.</span></span></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 association informed that the price of dry fruits has decreased by Rs 200 per kilogram in the retail market compared to previous years. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of pistachio has declined by Rs 50 per kg and is currently being sold at Rs 1850.</span></span></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 cashew nuts has dropped from Rs 1750 to Rs 1550 per kilogram. The association informed that the prices of apricot, beetle nuts, small cardamom among others have also declined.</span></span></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"">Pabitra Bajracharya, a retail store owner, says that the demand for sugar and flour used to increase during Tihar in previous years. But it has not happened this year. Instead, they are finding it difficult to sell the products.</span></span></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"">Businessmen used to trade goods including spices and dry fruits worth Rs 600 million in Tihar. Most of them used to be imported from 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"">According to the Trade and Export Promotion Centre, Nepal imported dry fruits and other essentials for Tihar worth Rs 1.46 billion in the current fiscal year. The import of the same goods during last year was worth Rs 4 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12397', 'image' => '20201108122407_1604793552.Clipboard18.jpg', 'article_date' => '2020-11-08 12:23:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12649', 'article_category_id' => '1', 'title' => 'Nepali Importers Paying 17 times more to Import Goods from China', 'sub_title' => '', 'summary' => 'November 8: Nepal’s international border transit points with China, which was closed since late January, haven’t become fully operational. ', '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"">November 8: Nepal’s international border transit points with China, which was closed since late January, haven’t become fully operational. </span></span></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"">After the Covid-19 restrictions were lifted and border reopened, Chinese authorities have been delivering goods near the border area every day. China has been sending around five containers of goods in the border area, which lies in their territory. However, Nepali side has not been allowed to take their container across the border to that particular 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"">China had closed its border points with Nepal in late January following a rise in coronavirus cases in the country. Due to repeated requests from the Government of Nepal, China agreed to reopen the border in June/July but it limited the trade to five containers per day.</span></span></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"">Due to pressure from the Ministry of Industry, Commerce and Supplies, China agreed to facilitate the flow of goods in September/October but again reimposed restrictions in October/November. Most of the northern border points of Nepal are almost closed. Nepali importers say they are hardly able to bring in five containers of goods per day.</span></span></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"">Before January, Nepali importers used to take their own containers across the border and bring back goods. They had to pay around Rs 7 to 8 million for bringing goods in their own containers. However, China denied permission for Nepali containers to enter its territory due to coronavirus crisis. </span></span></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 transportation charge skyrocketed after China decided to transport goods up to the border points. Nepali importers say they have to spend at least Rs 1.2 million to import just one container of 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"">“Chinese containers supply goods just up to the border point. Nepali containers are not allowed to enter China anymore,” informed Bachhu Poudel, chairman of the Nepal Trans Himalayan Border Commerce Association (NTHBCA).</span></span></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"">“Earlier, it used to cost Rs 80,000 to transport the goods from across the border but the price has now shot up to Rs 1.2 million.</span></span></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"">According to the association, goods stuck across the border have started entering Nepal after 11 months but more than 2200 containers are still stranded in China.</span></span></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"">Some importers have returned the goods while others are still waiting for the consignment, informed 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"">“We are unaware about the condition of the goods. We don’t know whether the goods have rotten or not. On top of that, the transportation cost has increased 17 folds,” said 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"">Poudel said that although the government has assured to facilitate the flow of goods, there hasn’t been any progress.</span></span></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 of the association, Lopsang Sherpa, said that they have informed the customs office about the exorbitant price they have to pay across the border but the government is yet to address their issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He said that China has reportedly decided to end the rotation of its containers after November 14 and they are currently in a “wait and watch” situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12396', 'image' => '20201108114816_1604792852.Clipboard12.jpg', 'article_date' => '2020-11-08 11:47:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12648', 'article_category_id' => '1', 'title' => 'BFIs Report Decline in number of Blacklisted Customers ', 'sub_title' => '', 'summary' => 'November 6: The number of customers on the blacklist of Banks and Financial Institutions (BFIs), which had increased during the lockdown period, has now declined. ', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 6: The number of customers on the blacklist of Banks and Financial Institutions (BFIs), which had increased during the lockdown period, has now declined. The number of customers on the blacklist had skyrocketed when the government imposed a nationwide lockdown and prohibitory order from March 24 to mid-July.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">In the month of June/July, 9,626 borrowers were blacklisted by BFIs. But that number has dropped to 359 now. According to the Credit Information Center, inclusion of the names of customers that bounced their cheques during the lockdown in the blacklist was the reason for the increase in blacklisted customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to the Center, 10,732 people were added to the blacklist from April to the end of August. However, the number has plummeted now. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">"From that period until last Thursday (November 5), the number has dropped as most of the check bouncers have been removed from the blacklist after correcting their mistake and making the payments to the check bearer," the center said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Nepal Rastra Bank (NRB) had issued a unified directive on mid-August 2019, making an arrangement to blacklist the person, firm, company or organization issuing the check if they signed the check incorrectly and did not pay the amount within one year due to insufficient amount. Earlier, check issuers were blacklisted only if they were found to have bounced checks repeatedly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">With the removal of the names added during the lockdown from the blacklist, only 212 names in March, 84 names in April, 359 names in May, 359 names in June, 443 names in July and 313 names in August remain in the blacklist.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Bhuvan Kumar Dahal, the chairman of the Nepal Bankers' Association, says that the blacklist has not increased as the entrepreneurs or businesses that weren’t able to repay their loans during the lockdown were not converted into non-performing loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">"We have not blacklisted bad debtors because of COVID-19. The new non-performing loans have not been blacklisted and the old ones have been making their repayments," he said, adding, “More names have been sent for the blacklist for bouncing cheques.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks and financial institutions issue circulars to the credit information center to blacklist customers listing the names of customers with loans that are inactive or overdue, and customers giving bounced cheques. The center then blacklists such debtors. Banks and financial institutions are not allowed to provide loans to blacklisted borrowers. In addition, the blacklisted person is denied various facilities from the state.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12395', 'image' => '20201106055408_Nepal_Rastra_Bank2.jpg', 'article_date' => '2020-11-06 17:53:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12647', 'article_category_id' => '1', 'title' => ''Hotel Industry of Province 1 in Extreme Crisis'', 'sub_title' => '', 'summary' => 'November 6: The government has announced concessional loans as a relief to the tourism industry that has been badly affected by coronavirus. ', '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"">November 6: The government has announced concessional loans as a relief to the tourism industry that has been badly affected by coronavirus. However, hotels in Province 1 have started to close one after another due to the problems in meeting the operational costs. </span></span></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 the lockdown and prohibitory order have been lifted, the hotel industry is struggling due to lack of tourists. </span></span></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"">Hotel Asiatique of Biratnagar has converted itself into a 100-bed isolation centre after the arrival of tourists stopped.</span></span></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"">Operator of the hotel Punya Bhattarai, who is also the provincial chairman of Nepal Association of Travel Agents (NATA), informed that they were forced to convert the hotel into an isolation centre after failing to raise the operational costs.</span></span></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 says that the hotel business had started to return back on track after the lockdown was lifted. However, their business has again declined due to the rise in number of coronavirus cases across the country. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bhattarai informed that the reason behind the closure of two big hotels of Biratnagar including Genelia and Namaskar is the failure to meet the operational cost.</span></span></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 says that the tourism industry in Province 1 is under existential crisis as the old hotels have started closing down while the new ones are unable to start their business.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12394', 'image' => '20201106031330_0410441105700_Clipboard37 2.jpg', 'article_date' => '2020-11-06 15:12:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12646', 'article_category_id' => '1', 'title' => 'Coronavirus Insurance Claims to be Settled within 2 Weeks ', 'sub_title' => '', 'summary' => 'November 6: Non-life insurance companies have agreed to settle the insurance claims for coronavirus within two weeks amid complaints from the claimants that they are not receiving compensation.', '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"">November 6: Non-life insurance companies have agreed to settle the insurance claims for coronavirus within two weeks amid complaints from the claimants that they are not receiving compensation.</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 government and the Insurance Board on Tuesday had directed insurance companies to settle the claims within a week of receiving all documents. </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"">However, due to the practical difficulties, the insurance companies are preparing to settle the claims within two weeks. According to a source, there has been preliminary agreement between the Insurance Board and insurance companies in this regard. </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"">A discussion was held between Chief Executive Officers (CEO) of the Insurance Board and insurance companies on Wednesday. </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"">CEO of NLG Insurance Sunil Ballav Pant stated that they are making effort to complete the process within 10 to 12 days. </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"">“There are lots of pending applications. On top of that, the documents received should be verified,” he said, adding, “So it is practically difficult to pay the claim in time. However, the processes are being done so that the claim can be paid within two weeks.” </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"">He further said that in some cases, the PCR report is also likely to be fake and therefore the documents should be properly verified. </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"">Moreover, he said that some people are found to have taken the compensation twice. </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"">“Those who have been insured are trying to cheat regarding the coronavirus insurance. Therefore, it needs to be strictly regulated,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12393', 'image' => '20201106024806_1604619588.Clipboard11.jpg', 'article_date' => '2020-11-06 14:47:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12645', 'article_category_id' => '1', 'title' => 'Government Issues new Order for Management of Valley Transportation', 'sub_title' => '', 'summary' => 'November 6: The government has issued the Valley Public Transport Authority Infrastructure Development Committee Order 2077 for proper management of public transportation in the Kathmandu Valley.', '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"">November 6: The government has issued the Valley Public Transport Authority Infrastructure Development Committee Order 2077 for proper management of public transportation in the Kathmandu Valley.</span></span></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 government had decided to form the Valley Transport Authority two and a half years ago after uprooting the transport syndicate prevalent in the country. Back the, the government had envisaged making the public transportation sector more reliable and properly managed within five years. However, the move faced backlash and was criticized by a certain sector for the central government’s allegedly attempt to interfere in matters of the province in the new federal setup. The government has finally took a cabinet decision in this regard with the issuance of the order.</span></span></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 committee will undertake the task of endorsing the annual plans, programmes and budget of the authority in addition to checking the standard of vehicles in the valley.</span></span></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 government had established a fitness centre in Teku to check the standard of vehicles some 11 years ago. But the centre could not be operated for a long time. The equipment used for testing the vehicles broke down after which the centre had to abort its work. The centre will now be revived and required equipment will be fixed as the authority will be looking after the matter from now onward.</span></span></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"">According to Information Officer at the Department of Transport Management Dr Loknath Bhusal, the committee will prepare all the required infrastructure as well as fix the rate, route permit among others before the bill gets endorsed by the House of Representatives.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12392', 'image' => '20201106011522_20200721030826_1595264681.yatayat.jpg', 'article_date' => '2020-11-06 13:14:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12644', 'article_category_id' => '1', 'title' => 'Prime Minister tells Well Wishers to Brace for the Worst', 'sub_title' => '', 'summary' => 'November 6: Prime Minister and chairman of Nepal Communist Party (NCP) KP Sharma Oli met with executive chairman of the party Pushpa Kamal Dahal on Thursday (November 5) amid intra-party tensions and internal rift inching closer to climax.', '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"">November 6: Prime Minister and chairman of Nepal Communist Party (NCP) KP Sharma Oli met with executive chairman of the party Pushpa Kamal Dahal on Thursday (November 5) amid intra-party tensions and internal rift inching closer to climax.</span></span></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 leaders of the ruling party met after a gap of five days in an attempt to resolve their differences.</span></span></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 the chairmen duo held discussions for two and a half hours, they were unable to reach an understanding on any of the contentious issues.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Dahal had told leaders close to him that Oli, during the last meeting held on Saturday, had proposed parting ways if his faction could not agree to the terms of the prime minister.</span></span></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 internal rift within the party reached the boiling point after Dahal revealed Oli’s proposal to part ways.</span></span></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"">On Wednesday, Oli had said he attained his current position through the support of the people and not by means of any deception and therefore he would not tender his resignation at any cost. The prime minister’s statement had ripple effect within the ruling NCP.</span></span></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 Thursday’s meeting, Dahal reportedly proposed calling the party’s Secretariat Meeting to sort out the differences but Oli stood by his guns saying that the Secretariat Meeting would be useless unless the differences between the two leaders were sorted out first. </span></span></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"">Oli said maintained that some forces have started conspiracy against the government and urged his supporters to brace for any adverse situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12391', 'image' => '20201106103608_1604619379.Clipboard10.jpg', 'article_date' => '2020-11-06 10:35:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12643', 'article_category_id' => '1', 'title' => 'Decorative Lights worth Rs 180 Million Imported for Tihar', 'sub_title' => '', 'summary' => 'November 5: Decorative lights worth Rs 180 million have been imported for the festive season this year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">November 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Decorative lights worth Rs 180 million have been imported for the festive season this year. The local businessmen have imported the electric lights for decoration especially for Tihar and Chhath festivals.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The import of such sparkling lights during the last fiscal year was worth Rs 400 million. The demand for the lights has declined this year due to the coronavirus pandemic, informed Nepal Electronic Entrepreneurs Federation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chairman of the federation, Sundar Prasad Poudel, informed that the electronic goods market of Nepal has shrunk by almost 60 percent this year due to the effects of the pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The decorative lights are imported in Nepal from India and China. Almost 85 percent of them come from China while the remaining 15 percent is imported from 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:"Bangla MN"">During pervious years, the importers used to visit China and India in person to bring the lights. They used to check the standard of the lights and then place the order. However, this year, they were unable to visit the neighbouring countries and had to place the order online, says Shankar Agrawal, who has been involved in the business of importing the decorative lights.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“During the previous years, people used to fix the lights at their houses and compounds soon after Dashain. However, there isn’t any excitement among the people this year. Our business is also not very encouraging this time,” says Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The consumption of decorative lights goes up during Tihar, which is also known as the festival of lights. This year, the five-day festival of Tihar begins from November 12 next week.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12390', 'image' => '20201105052211_1604534186.Clipboard20.jpg', 'article_date' => '2020-11-05 17:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12642', 'article_category_id' => '1', 'title' => 'Indian Businessmen Visit Nepal to Purchase Black Cardamom', 'sub_title' => '', 'summary' => 'November 5: Low production of black cardamom in Assam this year has forced Indian businessmen to set up purchase centers in Nepal to fulfill their demand. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Low production of black cardamom in Assam this year has forced Indian businessmen to set up purchase centers in Nepal to fulfill their demand. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Farmers of Nepal are expecting good price for their produce than last year after the Indian businessmen established purchase centre in Birtamode of Jhapa district.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Chairman of Black Cardamom Producers Association, Raj Kumar Karki, informed that the production of black cardamom in Assam was low this year compared to last year. Due to this, Indian businessmen have set up purchase centers in Birtamode, said Karki. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The price of black cardamom has already increased with the onset of the new season. Nepali exporters can now sell their products under the trademark of ‘Everest Big Cardamom’. The government had registered the trademark on July 3, 2016 with the objective of selling the product under its own brand name. Pakistan has approved the trademark after four years. However, Nepal needs to send the product to Pakistan through land route via India, which is problematic due to the tensions between the two nuclear-armed neighbours.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal hasn’t been able to benefit from the trademark because it is costly to send black cardamom to Pakistan through air cargo, says Karki.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12389', 'image' => '20201105031905_1604533819.Clipboard04.jpg', 'article_date' => '2020-11-05 15:18:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12641', 'article_category_id' => '1', 'title' => 'Goods from Tatopani Customs Entering Nepal at Snail’s Pace', 'sub_title' => '', 'summary' => 'November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. ', '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"">November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. Nepali importers say that goods worth billions of rupees have been stranded in China for months as only small amount of goods are sent through the border. </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"">Nepali businessmen have repeatedly urged the Chinese authorities to send the goods they have already purchased, but the goods have not arrived from China. According to them, even the goods ordered for last winter were stranded in China. </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 checkpoint has opened but the goods of have not arrived," said Bachchu Poudel, president of the Nepal Trans Himalayan Border Commerce Association, adding, "More than 75 percent of the goods bought by businessmen are stuck in China." </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"">Poudel said that the association had repeatedly requested the Chinese authorities to send the goods purchased by the businessmen but they did not listed to the plea. According to him, only 3 to 4 containers of goods are entering Nepal daily. </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"">According to the new policy of health standards, not all the goods bought by the entrepreneurs have been able to enter to Nepal. According to the Tatopani Customs Office, only 19 containers of goods have been imported as of Wednesday (November 4) after the border reopened. </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"">At present, Chinese containers come to the old customs yard on the Nepal side to deliver the goods. Nepali loaders are allowed to bring the goods only after the Chinese workers return from the site.</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"">Lal Bahadur Khatri, chief of the Tatopani Customs Dry Port Office said that goods are being imported according to the new policy of health standards under which Nepali loaders have to stay in quarantine facility. They have to undergo PCR tests every fortnight to ensure that they are not infected. </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"">So far, only apples and readymade garments have been imported through the customs point, informed Khatri.</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"">At this pace, it will take almost one year for the goods bought by the Nepali importers to enter Nepal, added Khatri.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12388', 'image' => '20201105025427_1604533890.Clipboard09.jpg', 'article_date' => '2020-11-05 14:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12639', 'article_category_id' => '1', 'title' => 'Soybean Oil Replaces Palm Oil as Nepal’s Major Export Product ', 'sub_title' => '', 'summary' => 'November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the data kept by the Trade and Export Promotion Centre (TEPC), refined soybean oil has emerged as the main export product of Nepal in the first three months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The export of soybean oil accounts for 24.5 percent of the total export of Nepal. Soybean oil is exported to India in large quantity because the product enjoys customs waiver facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the last fiscal year, refined palm oil had topped the list of products exported from Nepal to India. Refined palm oil worth Rs 18.31 billion was exported to India in the fiscal year 2019/20. However, the export of palm oil to India came to a halt after the Foreign Trade Directorate of India scrapped the license of palm oil importers in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first three months of the current fiscal year, the export of soybean oil has increased by 414 percent. During the corresponding period of last fiscal year, Nepal had exported soybean oil worth Rs 1.47 billion. The export of the same product has gone up to Rs 7.6 billion in the review period of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industrialists increased production of soybean oil after India imposed a ban on it. The industrialists say that the export increases naturally once the production is increased.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Operator of Shree Ram Refinery Pradeep Muraraka says that there is high demand for soybean oil in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industries import soybean from Argentina, Brazil, Paraguay, Indonesia and Ukraine and then refine the product to produce soybean oil. The refined oil is then sold to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The local industries have imported soybean worth Rs 8.13 billion in the first three months of the current fiscal year. The import of soybean during the corresponding period of last fiscal year was worth Rs 3.18 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12387', 'image' => '20201105113227_1604533724.Clipboard15.jpg', 'article_date' => '2020-11-05 11:31:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12640', 'article_category_id' => '1', 'title' => 'Construction of Nagdhunga-Naubise Tunnel Project Gains Momentum', 'sub_title' => '', 'summary' => 'November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. A technical team of the contractor company Hamza Ando Corporation as well as necessary equipment have already arrived at the construction site. The work of digging the tunnel is expected to get completed within two weeks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Nagdhunga-Naubise Tunnel Project will start digging the tunnel from the western side at Sisnekhola. Later, the tunnel will also be dug from the eastern side or Kathmandu, informed acting project chief Naresh Man Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The timeframe for completion of the project had been delayed due to the problems in bringing machines and technical team to the field. Now, the work has been resumed to compensate for the delay.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The work could not be done as per the schedule. In order to avoid the possibility of extending the contract agreement, we have set a target to work accordingly to meet the deadline,” said Shakya, adding, “Looking at the current progress, the chances of delay are slim.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the agreement signed with the Department of Roads, the contractor must complete the project within 42 months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A 20-member technical team from Japan is arriving for drilling works while the process to bring in additional 20 technicians is underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The contractor company has already brought 300 tons of explosives to the construction site while its total requirement of explosives is 900 tons.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The foundation stone of the project was laid on October 21, 2019 but the main work of tunnel construction will begin only after a year. Currently, the project officials are building culverts and other supporting structures.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project officials claim that they will complete the work on time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project is being undertaken with the concessional loan provided by the Government of Japan. The total investment for the project is estimated to be around Rs 22 billion. JICA will invest Rs 16 billion while the Government of Nepal will contribute Rs 6 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The tunnel will be of 2.7 kilometers long and will have two flyovers. The project will also cover 3 kilometers of road. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Thankot-Naubise road section is currently 9 kilometers long. The distance will be shortened to 5.7 kilometers once the tunnel is constructed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/111%281%29%281%29.jpg" style="height:215px; width:800px" /></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12386', 'image' => '20201105124818_20200308111704_adahjj.jpg', 'article_date' => '2020-11-05 12:45:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12638', 'article_category_id' => '1', 'title' => 'Government Instructs Insurance Companies to Settle Covid-19 Insurance Claims within 7 Days', 'sub_title' => '', 'summary' => 'November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government issued such instructions in accordance to the laws related to coronavirus insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance on Tuesday (November 3) issued such directive to the Insurance Board. Following the instruction from the government, the Insurance Board on the same day issued a circular to all insurance companies telling them to settle the insurance claims of Covid-19 cases within the timeframe set by the law.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Insurance Board has clearly stated in the circular that all insurance companies must settle the claims within seven days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director of the Insurance Board Raju Raman Poudel informed that the board instructed the insurance companies to settle the claims within seven days as per the instruction of the finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We received a letter from the finance ministry in this regard on Tuesday. We then issued the circular the same day,” said Poudel, adding, “Hopefully, patients infected with coronavirus will now receive compensation on time. The pending claims will also be settled soon.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12385', 'image' => '20201104043538_1604447588.Clipboard12.jpg', 'article_date' => '2020-11-04 16:35:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12637', 'article_category_id' => '1', 'title' => 'NRB to Provide Refinancing Facility within mid-December', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown. The demand for the refinancing facility has currently reached Rs 113 billion.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The central bank had instructed Banks and Financial Institutions (BFIs) to submit applications for lump sum refinancing to old borrowers at concessional interest rates by the end of Ashoj (mid-October). The regulatory department of Nepal Rastra Bank is working on the analysis and evaluation of the applications received to provide refinancing facility in the coming month of Mangshir (mid-November to mid-December).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, the borrowers of 44 banks and financial institutions have applied for refinancing of up to Rs 72 billion as of the end of Ashoj (mid-October).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""> “Apart from this, there is a demand of Rs 41 billion from debtors. Out of the total demand of Rs 41 billion, the highest number of refinancing applications has been received from Bagmati Province,” he said, adding, “Work is being done to make the refinancing facility available by the end of Mangshir (mid-December).”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Out of the total refinancing facility of Rs 200 billion, 70 percent of refinancing facility will be given through commercial banks, development banks and finance companies in the current fiscal year. Meanwhile, 20 percent refinancing will be distributed by the central bank on the basis of its evaluation. The remaining 10 percent will be distributed through microfinance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Athough the central bank had announced opening of applications for refinancing from A, B, and C class banks in the last two months, the applications for refinancing through microfinance has not been opened. NRB Spokesperson Bhatta says that the first priority was initially given to the highly affected and moderately affected sectors like hotels, tourism, etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to him, only the current debtors affected by COVID-19 will be able to get such loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The repayment period of the borrower should be at least 1 year in order for them to be eligible for refinancing facility. In case of a borrower, who has availed a loan through more than one bank and financial institution, the application will be accepted only in a non-recurring manner.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks should include at least five customers and borrowers from each branch when selecting a loan for application. Nepal Rastra Bank has stated that it will not accept applications if they are submitted without following the proper procedures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Liquidity in the market is expected to rise highly after the one-time refinancing is given to those who meet the criteria. At present, there is liquidity of Rs 201 billion in the market. After disbursing the refinancing amount, the banks will have to reduce the interest rate on the loan given to the old borrower affected by COVID-19 to 5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The refinancing procedure provides loan amount of up to Rs 1.5 million as 'micro, home and small enterprise loans'. Refinancing given by prioritizing a sector will be considered as special refinancing. This includes exports, women entrepreneurs, enterprises and businesses run by differently abled individuals, and refinancing provided in areas affected by natural disasters. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The lump sum refinancing period will be limited to one year at most and such loan will not be renewed. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12384', 'image' => '20201104033822_1604447658.Clipboard17.jpg', 'article_date' => '2020-11-04 15:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The government recently granted permission to reopen trekking and mountaineering on October 17. However, tourism activities and flights remain disrupted in some tourism destinations due to prohibitory orders issued by the local units. </span></span></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 tourism industry is returning back on track after a long time. Tourists have started arriving for trekking and mountaineering. The government had earlier banned all activities related to trekking and mountaineering during the spring season. But it later decided to revoke the ban after lifting the lockdown a few months ago. However, the restrictions are yet to be removed by various local units.</span></span></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"">Khumbu Pasang Lhamu Rural Municipality of Soluhumbu district issued a notice to the Civil Aviation Authority of Nepal (CAAN) and the Lukla-based Tenjing Hillary Airport on October 23 instructing all the airline companies not to bring any passengers to the airport until another notice.</span></span></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"">In contrast, Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai has been claiming that Nepal is a safe destination for international tourists following recent high-profile visits by foreign delegates for mountaineering. The conflicting move of the rural municipality comes amid the minister’s claim that the government is preparing to open other tourism activities in the country after allowing trekking and mountain expeditions. This clearly indicates lack of coordination among the three levels of government.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Secretary of Nepal Mountaineering Association, Tikaram Gurung, besides Khumbu the locals of Ghalegaun in Annapurna region have also banned the entry of tourists citing the risk of coronavirus. The said that the tourism industry that had been crawling back to normalcy has been affected due to the lack of coordination among the three tiers of government.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Gurung was of the view that instead of imposing a ban, the local authorities should have allowed tourists after PCR tests.</span></span></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 confusion because the government has announced reopening of the tourism sector but its actions indicate otherwise,” said Gurung.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12398', 'image' => '20201108023033_1604792178.Clipboard06.jpg', 'article_date' => '2020-11-08 14:30:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12650', 'article_category_id' => '1', 'title' => 'Prices of Dry Fruits and other essentials for Tihar Decline', 'sub_title' => '', 'summary' => 'November 8: The demand for dry fruits, which is excessively used during the festival of Tihar, has gone down this year. ', '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"">November 8: The demand for dry fruits, which is excessively used during the festival of Tihar, has gone down this year. The price of dry fruits has also declined with the decrease in demand for the much needed-item.</span></span></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"">Businessmen believe that the demand for dry fruits has declined because of the decline in purchasing power of the people due to the coronavirus pandemic.</span></span></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 sale of dry fruits normally goes up by 50 percent during Tihar compared to normal days but this year the sale is hovering around 30 percent, says Raj Kumar Shrestha, chairman of Retail Business Association.</span></span></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 says that hotels and restaurants as well as sweet shops that normally buy large quantities of dry fruits have not been operation in optimal condition. This is also one of the reasons for the decline in demand for dry fruits, says Shrestha.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Shrestha says that businessmen are considering to sell the dry fruits at lower price this year fearing that the goods stored for long time in their godown might get damaged.</span></span></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 association informed that the price of dry fruits has decreased by Rs 200 per kilogram in the retail market compared to previous years. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The price of pistachio has declined by Rs 50 per kg and is currently being sold at Rs 1850.</span></span></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 cashew nuts has dropped from Rs 1750 to Rs 1550 per kilogram. The association informed that the prices of apricot, beetle nuts, small cardamom among others have also declined.</span></span></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"">Pabitra Bajracharya, a retail store owner, says that the demand for sugar and flour used to increase during Tihar in previous years. But it has not happened this year. Instead, they are finding it difficult to sell the products.</span></span></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"">Businessmen used to trade goods including spices and dry fruits worth Rs 600 million in Tihar. Most of them used to be imported from 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"">According to the Trade and Export Promotion Centre, Nepal imported dry fruits and other essentials for Tihar worth Rs 1.46 billion in the current fiscal year. The import of the same goods during last year was worth Rs 4 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12397', 'image' => '20201108122407_1604793552.Clipboard18.jpg', 'article_date' => '2020-11-08 12:23:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12649', 'article_category_id' => '1', 'title' => 'Nepali Importers Paying 17 times more to Import Goods from China', 'sub_title' => '', 'summary' => 'November 8: Nepal’s international border transit points with China, which was closed since late January, haven’t become fully operational. ', '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"">November 8: Nepal’s international border transit points with China, which was closed since late January, haven’t become fully operational. </span></span></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"">After the Covid-19 restrictions were lifted and border reopened, Chinese authorities have been delivering goods near the border area every day. China has been sending around five containers of goods in the border area, which lies in their territory. However, Nepali side has not been allowed to take their container across the border to that particular 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"">China had closed its border points with Nepal in late January following a rise in coronavirus cases in the country. Due to repeated requests from the Government of Nepal, China agreed to reopen the border in June/July but it limited the trade to five containers per day.</span></span></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"">Due to pressure from the Ministry of Industry, Commerce and Supplies, China agreed to facilitate the flow of goods in September/October but again reimposed restrictions in October/November. Most of the northern border points of Nepal are almost closed. Nepali importers say they are hardly able to bring in five containers of goods per day.</span></span></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"">Before January, Nepali importers used to take their own containers across the border and bring back goods. They had to pay around Rs 7 to 8 million for bringing goods in their own containers. However, China denied permission for Nepali containers to enter its territory due to coronavirus crisis. </span></span></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 transportation charge skyrocketed after China decided to transport goods up to the border points. Nepali importers say they have to spend at least Rs 1.2 million to import just one container of 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"">“Chinese containers supply goods just up to the border point. Nepali containers are not allowed to enter China anymore,” informed Bachhu Poudel, chairman of the Nepal Trans Himalayan Border Commerce Association (NTHBCA).</span></span></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"">“Earlier, it used to cost Rs 80,000 to transport the goods from across the border but the price has now shot up to Rs 1.2 million.</span></span></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"">According to the association, goods stuck across the border have started entering Nepal after 11 months but more than 2200 containers are still stranded in China.</span></span></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"">Some importers have returned the goods while others are still waiting for the consignment, informed 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"">“We are unaware about the condition of the goods. We don’t know whether the goods have rotten or not. On top of that, the transportation cost has increased 17 folds,” said 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"">Poudel said that although the government has assured to facilitate the flow of goods, there hasn’t been any progress.</span></span></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 of the association, Lopsang Sherpa, said that they have informed the customs office about the exorbitant price they have to pay across the border but the government is yet to address their issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He said that China has reportedly decided to end the rotation of its containers after November 14 and they are currently in a “wait and watch” situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-08', 'modified' => '2020-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '12396', 'image' => '20201108114816_1604792852.Clipboard12.jpg', 'article_date' => '2020-11-08 11:47:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12648', 'article_category_id' => '1', 'title' => 'BFIs Report Decline in number of Blacklisted Customers ', 'sub_title' => '', 'summary' => 'November 6: The number of customers on the blacklist of Banks and Financial Institutions (BFIs), which had increased during the lockdown period, has now declined. ', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 6: The number of customers on the blacklist of Banks and Financial Institutions (BFIs), which had increased during the lockdown period, has now declined. The number of customers on the blacklist had skyrocketed when the government imposed a nationwide lockdown and prohibitory order from March 24 to mid-July.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">In the month of June/July, 9,626 borrowers were blacklisted by BFIs. But that number has dropped to 359 now. According to the Credit Information Center, inclusion of the names of customers that bounced their cheques during the lockdown in the blacklist was the reason for the increase in blacklisted customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to the Center, 10,732 people were added to the blacklist from April to the end of August. However, the number has plummeted now. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">"From that period until last Thursday (November 5), the number has dropped as most of the check bouncers have been removed from the blacklist after correcting their mistake and making the payments to the check bearer," the center said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Nepal Rastra Bank (NRB) had issued a unified directive on mid-August 2019, making an arrangement to blacklist the person, firm, company or organization issuing the check if they signed the check incorrectly and did not pay the amount within one year due to insufficient amount. Earlier, check issuers were blacklisted only if they were found to have bounced checks repeatedly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">With the removal of the names added during the lockdown from the blacklist, only 212 names in March, 84 names in April, 359 names in May, 359 names in June, 443 names in July and 313 names in August remain in the blacklist.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Bhuvan Kumar Dahal, the chairman of the Nepal Bankers' Association, says that the blacklist has not increased as the entrepreneurs or businesses that weren’t able to repay their loans during the lockdown were not converted into non-performing loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">"We have not blacklisted bad debtors because of COVID-19. The new non-performing loans have not been blacklisted and the old ones have been making their repayments," he said, adding, “More names have been sent for the blacklist for bouncing cheques.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks and financial institutions issue circulars to the credit information center to blacklist customers listing the names of customers with loans that are inactive or overdue, and customers giving bounced cheques. The center then blacklists such debtors. Banks and financial institutions are not allowed to provide loans to blacklisted borrowers. In addition, the blacklisted person is denied various facilities from the state.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12395', 'image' => '20201106055408_Nepal_Rastra_Bank2.jpg', 'article_date' => '2020-11-06 17:53:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12647', 'article_category_id' => '1', 'title' => ''Hotel Industry of Province 1 in Extreme Crisis'', 'sub_title' => '', 'summary' => 'November 6: The government has announced concessional loans as a relief to the tourism industry that has been badly affected by coronavirus. ', '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"">November 6: The government has announced concessional loans as a relief to the tourism industry that has been badly affected by coronavirus. However, hotels in Province 1 have started to close one after another due to the problems in meeting the operational costs. </span></span></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 the lockdown and prohibitory order have been lifted, the hotel industry is struggling due to lack of tourists. </span></span></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"">Hotel Asiatique of Biratnagar has converted itself into a 100-bed isolation centre after the arrival of tourists stopped.</span></span></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"">Operator of the hotel Punya Bhattarai, who is also the provincial chairman of Nepal Association of Travel Agents (NATA), informed that they were forced to convert the hotel into an isolation centre after failing to raise the operational costs.</span></span></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 says that the hotel business had started to return back on track after the lockdown was lifted. However, their business has again declined due to the rise in number of coronavirus cases across the country. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Bhattarai informed that the reason behind the closure of two big hotels of Biratnagar including Genelia and Namaskar is the failure to meet the operational cost.</span></span></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 says that the tourism industry in Province 1 is under existential crisis as the old hotels have started closing down while the new ones are unable to start their business.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12394', 'image' => '20201106031330_0410441105700_Clipboard37 2.jpg', 'article_date' => '2020-11-06 15:12:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12646', 'article_category_id' => '1', 'title' => 'Coronavirus Insurance Claims to be Settled within 2 Weeks ', 'sub_title' => '', 'summary' => 'November 6: Non-life insurance companies have agreed to settle the insurance claims for coronavirus within two weeks amid complaints from the claimants that they are not receiving compensation.', '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"">November 6: Non-life insurance companies have agreed to settle the insurance claims for coronavirus within two weeks amid complaints from the claimants that they are not receiving compensation.</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 government and the Insurance Board on Tuesday had directed insurance companies to settle the claims within a week of receiving all documents. </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"">However, due to the practical difficulties, the insurance companies are preparing to settle the claims within two weeks. According to a source, there has been preliminary agreement between the Insurance Board and insurance companies in this regard. </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"">A discussion was held between Chief Executive Officers (CEO) of the Insurance Board and insurance companies on Wednesday. </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"">CEO of NLG Insurance Sunil Ballav Pant stated that they are making effort to complete the process within 10 to 12 days. </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"">“There are lots of pending applications. On top of that, the documents received should be verified,” he said, adding, “So it is practically difficult to pay the claim in time. However, the processes are being done so that the claim can be paid within two weeks.” </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"">He further said that in some cases, the PCR report is also likely to be fake and therefore the documents should be properly verified. </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"">Moreover, he said that some people are found to have taken the compensation twice. </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"">“Those who have been insured are trying to cheat regarding the coronavirus insurance. Therefore, it needs to be strictly regulated,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12393', 'image' => '20201106024806_1604619588.Clipboard11.jpg', 'article_date' => '2020-11-06 14:47:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12645', 'article_category_id' => '1', 'title' => 'Government Issues new Order for Management of Valley Transportation', 'sub_title' => '', 'summary' => 'November 6: The government has issued the Valley Public Transport Authority Infrastructure Development Committee Order 2077 for proper management of public transportation in the Kathmandu Valley.', '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"">November 6: The government has issued the Valley Public Transport Authority Infrastructure Development Committee Order 2077 for proper management of public transportation in the Kathmandu Valley.</span></span></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 government had decided to form the Valley Transport Authority two and a half years ago after uprooting the transport syndicate prevalent in the country. Back the, the government had envisaged making the public transportation sector more reliable and properly managed within five years. However, the move faced backlash and was criticized by a certain sector for the central government’s allegedly attempt to interfere in matters of the province in the new federal setup. The government has finally took a cabinet decision in this regard with the issuance of the order.</span></span></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 committee will undertake the task of endorsing the annual plans, programmes and budget of the authority in addition to checking the standard of vehicles in the valley.</span></span></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 government had established a fitness centre in Teku to check the standard of vehicles some 11 years ago. But the centre could not be operated for a long time. The equipment used for testing the vehicles broke down after which the centre had to abort its work. The centre will now be revived and required equipment will be fixed as the authority will be looking after the matter from now onward.</span></span></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"">According to Information Officer at the Department of Transport Management Dr Loknath Bhusal, the committee will prepare all the required infrastructure as well as fix the rate, route permit among others before the bill gets endorsed by the House of Representatives.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12392', 'image' => '20201106011522_20200721030826_1595264681.yatayat.jpg', 'article_date' => '2020-11-06 13:14:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12644', 'article_category_id' => '1', 'title' => 'Prime Minister tells Well Wishers to Brace for the Worst', 'sub_title' => '', 'summary' => 'November 6: Prime Minister and chairman of Nepal Communist Party (NCP) KP Sharma Oli met with executive chairman of the party Pushpa Kamal Dahal on Thursday (November 5) amid intra-party tensions and internal rift inching closer to climax.', '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"">November 6: Prime Minister and chairman of Nepal Communist Party (NCP) KP Sharma Oli met with executive chairman of the party Pushpa Kamal Dahal on Thursday (November 5) amid intra-party tensions and internal rift inching closer to climax.</span></span></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 leaders of the ruling party met after a gap of five days in an attempt to resolve their differences.</span></span></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 the chairmen duo held discussions for two and a half hours, they were unable to reach an understanding on any of the contentious issues.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Dahal had told leaders close to him that Oli, during the last meeting held on Saturday, had proposed parting ways if his faction could not agree to the terms of the prime minister.</span></span></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 internal rift within the party reached the boiling point after Dahal revealed Oli’s proposal to part ways.</span></span></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"">On Wednesday, Oli had said he attained his current position through the support of the people and not by means of any deception and therefore he would not tender his resignation at any cost. The prime minister’s statement had ripple effect within the ruling NCP.</span></span></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 Thursday’s meeting, Dahal reportedly proposed calling the party’s Secretariat Meeting to sort out the differences but Oli stood by his guns saying that the Secretariat Meeting would be useless unless the differences between the two leaders were sorted out first. </span></span></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"">Oli said maintained that some forces have started conspiracy against the government and urged his supporters to brace for any adverse situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-06', 'modified' => '2020-11-06', 'keywords' => '', 'description' => '', 'sortorder' => '12391', 'image' => '20201106103608_1604619379.Clipboard10.jpg', 'article_date' => '2020-11-06 10:35:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12643', 'article_category_id' => '1', 'title' => 'Decorative Lights worth Rs 180 Million Imported for Tihar', 'sub_title' => '', 'summary' => 'November 5: Decorative lights worth Rs 180 million have been imported for the festive season this year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">November 5: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Decorative lights worth Rs 180 million have been imported for the festive season this year. The local businessmen have imported the electric lights for decoration especially for Tihar and Chhath festivals.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The import of such sparkling lights during the last fiscal year was worth Rs 400 million. The demand for the lights has declined this year due to the coronavirus pandemic, informed Nepal Electronic Entrepreneurs Federation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chairman of the federation, Sundar Prasad Poudel, informed that the electronic goods market of Nepal has shrunk by almost 60 percent this year due to the effects of the pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The decorative lights are imported in Nepal from India and China. Almost 85 percent of them come from China while the remaining 15 percent is imported from 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:"Bangla MN"">During pervious years, the importers used to visit China and India in person to bring the lights. They used to check the standard of the lights and then place the order. However, this year, they were unable to visit the neighbouring countries and had to place the order online, says Shankar Agrawal, who has been involved in the business of importing the decorative lights.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“During the previous years, people used to fix the lights at their houses and compounds soon after Dashain. However, there isn’t any excitement among the people this year. Our business is also not very encouraging this time,” says Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The consumption of decorative lights goes up during Tihar, which is also known as the festival of lights. This year, the five-day festival of Tihar begins from November 12 next week.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12390', 'image' => '20201105052211_1604534186.Clipboard20.jpg', 'article_date' => '2020-11-05 17:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12642', 'article_category_id' => '1', 'title' => 'Indian Businessmen Visit Nepal to Purchase Black Cardamom', 'sub_title' => '', 'summary' => 'November 5: Low production of black cardamom in Assam this year has forced Indian businessmen to set up purchase centers in Nepal to fulfill their demand. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Low production of black cardamom in Assam this year has forced Indian businessmen to set up purchase centers in Nepal to fulfill their demand. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Farmers of Nepal are expecting good price for their produce than last year after the Indian businessmen established purchase centre in Birtamode of Jhapa district.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Chairman of Black Cardamom Producers Association, Raj Kumar Karki, informed that the production of black cardamom in Assam was low this year compared to last year. Due to this, Indian businessmen have set up purchase centers in Birtamode, said Karki. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The price of black cardamom has already increased with the onset of the new season. Nepali exporters can now sell their products under the trademark of ‘Everest Big Cardamom’. The government had registered the trademark on July 3, 2016 with the objective of selling the product under its own brand name. Pakistan has approved the trademark after four years. However, Nepal needs to send the product to Pakistan through land route via India, which is problematic due to the tensions between the two nuclear-armed neighbours.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal hasn’t been able to benefit from the trademark because it is costly to send black cardamom to Pakistan through air cargo, says Karki.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12389', 'image' => '20201105031905_1604533819.Clipboard04.jpg', 'article_date' => '2020-11-05 15:18:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12641', 'article_category_id' => '1', 'title' => 'Goods from Tatopani Customs Entering Nepal at Snail’s Pace', 'sub_title' => '', 'summary' => 'November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. ', '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"">November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. Nepali importers say that goods worth billions of rupees have been stranded in China for months as only small amount of goods are sent through the border. </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"">Nepali businessmen have repeatedly urged the Chinese authorities to send the goods they have already purchased, but the goods have not arrived from China. According to them, even the goods ordered for last winter were stranded in China. </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 checkpoint has opened but the goods of have not arrived," said Bachchu Poudel, president of the Nepal Trans Himalayan Border Commerce Association, adding, "More than 75 percent of the goods bought by businessmen are stuck in China." </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"">Poudel said that the association had repeatedly requested the Chinese authorities to send the goods purchased by the businessmen but they did not listed to the plea. According to him, only 3 to 4 containers of goods are entering Nepal daily. </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"">According to the new policy of health standards, not all the goods bought by the entrepreneurs have been able to enter to Nepal. According to the Tatopani Customs Office, only 19 containers of goods have been imported as of Wednesday (November 4) after the border reopened. </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"">At present, Chinese containers come to the old customs yard on the Nepal side to deliver the goods. Nepali loaders are allowed to bring the goods only after the Chinese workers return from the site.</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"">Lal Bahadur Khatri, chief of the Tatopani Customs Dry Port Office said that goods are being imported according to the new policy of health standards under which Nepali loaders have to stay in quarantine facility. They have to undergo PCR tests every fortnight to ensure that they are not infected. </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"">So far, only apples and readymade garments have been imported through the customs point, informed Khatri.</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"">At this pace, it will take almost one year for the goods bought by the Nepali importers to enter Nepal, added Khatri.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12388', 'image' => '20201105025427_1604533890.Clipboard09.jpg', 'article_date' => '2020-11-05 14:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12639', 'article_category_id' => '1', 'title' => 'Soybean Oil Replaces Palm Oil as Nepal’s Major Export Product ', 'sub_title' => '', 'summary' => 'November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the data kept by the Trade and Export Promotion Centre (TEPC), refined soybean oil has emerged as the main export product of Nepal in the first three months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The export of soybean oil accounts for 24.5 percent of the total export of Nepal. Soybean oil is exported to India in large quantity because the product enjoys customs waiver facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the last fiscal year, refined palm oil had topped the list of products exported from Nepal to India. Refined palm oil worth Rs 18.31 billion was exported to India in the fiscal year 2019/20. However, the export of palm oil to India came to a halt after the Foreign Trade Directorate of India scrapped the license of palm oil importers in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first three months of the current fiscal year, the export of soybean oil has increased by 414 percent. During the corresponding period of last fiscal year, Nepal had exported soybean oil worth Rs 1.47 billion. The export of the same product has gone up to Rs 7.6 billion in the review period of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industrialists increased production of soybean oil after India imposed a ban on it. The industrialists say that the export increases naturally once the production is increased.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Operator of Shree Ram Refinery Pradeep Muraraka says that there is high demand for soybean oil in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industries import soybean from Argentina, Brazil, Paraguay, Indonesia and Ukraine and then refine the product to produce soybean oil. The refined oil is then sold to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The local industries have imported soybean worth Rs 8.13 billion in the first three months of the current fiscal year. The import of soybean during the corresponding period of last fiscal year was worth Rs 3.18 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12387', 'image' => '20201105113227_1604533724.Clipboard15.jpg', 'article_date' => '2020-11-05 11:31:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12640', 'article_category_id' => '1', 'title' => 'Construction of Nagdhunga-Naubise Tunnel Project Gains Momentum', 'sub_title' => '', 'summary' => 'November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. A technical team of the contractor company Hamza Ando Corporation as well as necessary equipment have already arrived at the construction site. The work of digging the tunnel is expected to get completed within two weeks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Nagdhunga-Naubise Tunnel Project will start digging the tunnel from the western side at Sisnekhola. Later, the tunnel will also be dug from the eastern side or Kathmandu, informed acting project chief Naresh Man Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The timeframe for completion of the project had been delayed due to the problems in bringing machines and technical team to the field. Now, the work has been resumed to compensate for the delay.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The work could not be done as per the schedule. In order to avoid the possibility of extending the contract agreement, we have set a target to work accordingly to meet the deadline,” said Shakya, adding, “Looking at the current progress, the chances of delay are slim.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the agreement signed with the Department of Roads, the contractor must complete the project within 42 months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A 20-member technical team from Japan is arriving for drilling works while the process to bring in additional 20 technicians is underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The contractor company has already brought 300 tons of explosives to the construction site while its total requirement of explosives is 900 tons.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The foundation stone of the project was laid on October 21, 2019 but the main work of tunnel construction will begin only after a year. Currently, the project officials are building culverts and other supporting structures.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project officials claim that they will complete the work on time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project is being undertaken with the concessional loan provided by the Government of Japan. The total investment for the project is estimated to be around Rs 22 billion. JICA will invest Rs 16 billion while the Government of Nepal will contribute Rs 6 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The tunnel will be of 2.7 kilometers long and will have two flyovers. The project will also cover 3 kilometers of road. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Thankot-Naubise road section is currently 9 kilometers long. The distance will be shortened to 5.7 kilometers once the tunnel is constructed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/111%281%29%281%29.jpg" style="height:215px; width:800px" /></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12386', 'image' => '20201105124818_20200308111704_adahjj.jpg', 'article_date' => '2020-11-05 12:45:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12638', 'article_category_id' => '1', 'title' => 'Government Instructs Insurance Companies to Settle Covid-19 Insurance Claims within 7 Days', 'sub_title' => '', 'summary' => 'November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government issued such instructions in accordance to the laws related to coronavirus insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance on Tuesday (November 3) issued such directive to the Insurance Board. Following the instruction from the government, the Insurance Board on the same day issued a circular to all insurance companies telling them to settle the insurance claims of Covid-19 cases within the timeframe set by the law.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Insurance Board has clearly stated in the circular that all insurance companies must settle the claims within seven days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director of the Insurance Board Raju Raman Poudel informed that the board instructed the insurance companies to settle the claims within seven days as per the instruction of the finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We received a letter from the finance ministry in this regard on Tuesday. We then issued the circular the same day,” said Poudel, adding, “Hopefully, patients infected with coronavirus will now receive compensation on time. The pending claims will also be settled soon.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12385', 'image' => '20201104043538_1604447588.Clipboard12.jpg', 'article_date' => '2020-11-04 16:35:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12637', 'article_category_id' => '1', 'title' => 'NRB to Provide Refinancing Facility within mid-December', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown. The demand for the refinancing facility has currently reached Rs 113 billion.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The central bank had instructed Banks and Financial Institutions (BFIs) to submit applications for lump sum refinancing to old borrowers at concessional interest rates by the end of Ashoj (mid-October). The regulatory department of Nepal Rastra Bank is working on the analysis and evaluation of the applications received to provide refinancing facility in the coming month of Mangshir (mid-November to mid-December).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, the borrowers of 44 banks and financial institutions have applied for refinancing of up to Rs 72 billion as of the end of Ashoj (mid-October).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""> “Apart from this, there is a demand of Rs 41 billion from debtors. Out of the total demand of Rs 41 billion, the highest number of refinancing applications has been received from Bagmati Province,” he said, adding, “Work is being done to make the refinancing facility available by the end of Mangshir (mid-December).”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Out of the total refinancing facility of Rs 200 billion, 70 percent of refinancing facility will be given through commercial banks, development banks and finance companies in the current fiscal year. Meanwhile, 20 percent refinancing will be distributed by the central bank on the basis of its evaluation. The remaining 10 percent will be distributed through microfinance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Athough the central bank had announced opening of applications for refinancing from A, B, and C class banks in the last two months, the applications for refinancing through microfinance has not been opened. NRB Spokesperson Bhatta says that the first priority was initially given to the highly affected and moderately affected sectors like hotels, tourism, etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to him, only the current debtors affected by COVID-19 will be able to get such loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The repayment period of the borrower should be at least 1 year in order for them to be eligible for refinancing facility. In case of a borrower, who has availed a loan through more than one bank and financial institution, the application will be accepted only in a non-recurring manner.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks should include at least five customers and borrowers from each branch when selecting a loan for application. Nepal Rastra Bank has stated that it will not accept applications if they are submitted without following the proper procedures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Liquidity in the market is expected to rise highly after the one-time refinancing is given to those who meet the criteria. At present, there is liquidity of Rs 201 billion in the market. After disbursing the refinancing amount, the banks will have to reduce the interest rate on the loan given to the old borrower affected by COVID-19 to 5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The refinancing procedure provides loan amount of up to Rs 1.5 million as 'micro, home and small enterprise loans'. Refinancing given by prioritizing a sector will be considered as special refinancing. This includes exports, women entrepreneurs, enterprises and businesses run by differently abled individuals, and refinancing provided in areas affected by natural disasters. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The lump sum refinancing period will be limited to one year at most and such loan will not be renewed. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12384', 'image' => '20201104033822_1604447658.Clipboard17.jpg', 'article_date' => '2020-11-04 15:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
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
