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			'id' => '12517',
			'article_category_id' => '1',
			'title' => 'Government Initiates Study for Construction of Flyovers in Valley',
			'sub_title' => '',
			'summary' => 'September 25: Even though there has been talks regarding construction of flyovers in the Kathmandu Valley since the last five years, the construction is still uncertain. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">September 25: Even though there has been talks regarding construction of flyovers in the Kathmandu Valley since the last five years, the construction is still uncertain. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Department of Roads suggests that there is no urgency to construct the flyovers immediately as Nepal has no prior experience in construction while the investment is extremely high.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The department says that even if the study of flyovers is carried out, the construction won&rsquo;t be completed immediately. A department source informed New Business Age that even though the construction of a flyover is on the pipeline, rumors about initiating the contract in the current fiscal year is unlikely.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The department has initiated a study in areas with high traffic congestion for the possibility of constructing flyovers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The bridge division under the department had started a preliminary study four to five years ago to see if a flyover could be built in Baneshwar area. The plan to build the flyover has been included in the budget of the current Fiscal Year 2077/78. However, it has not been decided yet at which crossroads of the valley the flyover will be constructed.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Since, the flyover will be constructed for the first time in Nepal, essential and convenient locations with relatively low risk have been selected for construction site, informed Shiva Prasad Nepal, Deputy Director General of the Department. An agreement worth Rs 5.2 million has been signed with stakeholders to study three potential locations. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">In the current fiscal year, the department has started a study to build flyovers at three intersections inside the valley, Gwarko, Satdobato and Ekantakuna utilizing Nepali consulting company and Nepali investment.</span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Market Monitoring Brings Down Soaring  Price of Onion ',
			'sub_title' => '',
			'summary' => 'September 24: The price of onion has started declining after the government stepped up market monitoring. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">September 24: The price of onion has started declining after the government stepped up market monitoring. The price had skyrocketed after a recent ban on export of onion by India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The supply of onion at Kalimati Fruits and Vegetables Market</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">has come to a halt after India banned export of onion on September 14. The price started increasing in the Nepali market from the very next 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:&quot;Bangla MN&quot;">The Commerce, Supply and Consumer Protection Department and the Kathmandu Metropolitan City started market monitoring after the businessmen started fixing the price of onion arbitrarily. Following the market inspection, the price has been gradually decreasing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The wholesale price of onion, which was Rs 60 per kilogram on September 14 as per the price list prepared by the Kalimati Fruits and Vegetables Market, increased by 99 percent to Rs 119 the next day after India imposed the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The retail stores were found selling onion for as high as Rs 160 per kg. The price of onion at Kalimati market has now dropped to Rs 102 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The concerned government departments stepped up monitoring after there was artificial shortage and black-marketing of onion. The government took action against traders who were found hoarding onion. After initiating action, the price started declining.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Director General of the Department of Commerce Netra Prasad Subedi says Nepal is dependent on India for onions and the price will remain high until India eases the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">He added that the stock of onion kept by businessmen has not finished yet and therefore the market monitoring will check the price hike to some extent.</span></span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '12262',
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			'id' => '12514',
			'article_category_id' => '1',
			'title' => 'Revenue from E-commerce to Enter Nepal through Formal Channels',
			'sub_title' => '',
			'summary' => 'September 24: Billions of rupees have been entering Nepal through unofficial channels for E-commerce. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">September 24: Billions of rupees have been entering Nepal through unofficial channels for E-commerce. There hasn&rsquo;t been any definitive data on it. The number of people generating revenue through online portals like YouTube, Facebook, Google, etc. have also been increasing. Due to the hassles in sending money to Nepal from abroad, Nepali citizens living in foreign countries have been saving money with PayPal and then spending it abroad.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">But now, Nepal Rastra Bank has made arrangements to transfer foreign currency to Nepal through online financial services. Bankers believe that this provision will make it easier for foreign currencies to enter Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has stated that the revenue from the sales of information technology expertise, posting of contents on social media and from the retail-level international business and commercial transactions can be brought to Nepal through the banking system. The payment service provider or the bank and financial institution can make the arrangements to transfer the money in domestic currency to the customer&rsquo;s wallet or any other payment gateways after the local bank receives the amount in their account. BFIs will be liable to charge the fees or other charges as fixed by the Foreign Exchange Management Department of Nepal Rastra Bank for earning the foreign currency. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Anyone can earn foreign currency in compliance with the Act on Prevention of Investment in Money Laundering and Terrorist Activities along with other related prevailing acts, laws and directives.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The Payments System Department of the central bank claims that the money received from foreign countries can be legally transferred directly to Nepalese banks through the use of various online payment services. Bhuwan Kadel, the executive director of the Payments System Department said that bringing such transactions under the banking system will help in the conversion of foreign currencies into Nepalese rupees. &ldquo;It also legalizes online ordering and payments,&rdquo; he told New Business Age, adding, &ldquo;In conclusion, the revenue can enter Nepal through the use of online payment services like Visa Card, PayPal, etc. Similarly, payment services like Esewa, Khalti, IME Pay can also be used to transfer the money earned through E-commerce in the account or wallet of the concerned person.&rdquo; He said that the central bank has created an environment which will even allow the money withheld abroad to enter the financial system of Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank maintained that it is illegal to send and receive payments abroad through informal channels. Payments for advertisements on social media is done in dollars. There isn&rsquo;t any facility for dollar exchange or payment through Nepalese medium for such work. So, Nepalese businesses, firms and organizations have been using foreign mediums too make payments for advertisements on social media. Therefore, there are no data for the amount that exits Nepal through foreign payment mediums.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Balkrishna Joshi of Thamel Remit claims that thousands of softwares are being sold through freelancing from Nepal. &ldquo;Most people work for at least 50 to 200 dollars but it is expensive to transfer it to Nepal. For the minimum amount sent by a foreign company, the service fee is more than 45 dollars. This way most of them keep their money in Payoneer Internet Wallet,&rdquo; he said, &ldquo;They make the necessary payments to different apps through it. The money therefore, is usually spent outside Nepal before entering. There are people who earn 3-4 thousand dollars monthly through their IT services given from Nepal. In this way, billions of rupees have entered Nepal illegally every year.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Joshi said that the foreign currencies earned through E-commerce can enter through Nepalese system if the government encourages a formal channel for the transfer of money. He believes that this will also help in increasing the revenue collection of the nation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bhuwan Dahal, the chairman of Nepal Bankers&rsquo; Association, said that this arrangement made by the central bank is a welcome step. </span></span></p>
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			'id' => '12513',
			'article_category_id' => '1',
			'title' => 'EDI Expected to Speed up Customs Clearance of Nepal Bound Goods',
			'sub_title' => '',
			'summary' => 'September 24: India’s Kolkota Port has made it mandatory for Nepal-bound goods from third countries to use Electronic Data Interchange (EDI) system. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: India&rsquo;s Kolkota Port has made it mandatory for Nepal-bound goods from third countries to use Electronic Data Interchange (EDI) system. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system will be implemented for goods that have to go through the Customs Transit Declaration (CTD) at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The EDI system has been introduced to remove the hassles of paper works at the port. Although this system was launched about a year ago, it was not mandatory until now.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The port officials claimed that they made this system mandatory to make the process of CTD fast and efficient. India has already made this system mandatory for goods it imports itself.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers need to submit documents for processing through online means.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers need to submit all the details of the goods including the bill, packing list, origin of product certificate, among others. With the full implementation of this system, it is believed that the importers will no longer need to present hard copy of documents to the port anymore, says Amrit Bhakta Shrestha of Customs House Agent. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, one of the importers Kamal Mantri says this new system has made the process even more longer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Earlier, it used to take one day for customs clearance but now it takes three days,&rdquo; he says, adding, &ldquo;This has caused stockpiling of 1000 containers at the port.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other agents says although this new technology is supposed to save time, it is taking longer than expected because the staff members of the customs office are not proficient to handle this new system at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">Ishwar Raj Poudel, Nepal&rsquo;s Consul General at its Kolkata-based consulate, informed that they are coordinating with the concerned officials of India for making the EDI system fast and effective.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">He further said that they are facing some glitches because this system is in its initial phase. Poudel added that they are hopeful of resolving the problems soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">&ldquo;We are facilitating in making this system more effective. Agents can complete the documentation process from their own offices and therefore this system is beneficial for the importers,&rdquo; Poudel told New Business Age. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12512',
			'article_category_id' => '1',
			'title' => 'Government Warns of Blacklisting Two Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'September 24: The government has warned two big construction companies of blacklisting them for negligence in road expansion and other infrastructure development projects.',
			'content' => '<p><em>This file photo shows construction taking place along the Chabahil-Jorpati road. Photo NBA</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: The government has warned two big construction companies of blacklisting them for negligence in road expansion and other infrastructure development projects.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has sought clarification from United Builders and Engineers Pvt Ltd and Diwa/Sailung JV on why they should not be blacklisted for not completing major projects related to road construction in Kathmandu Valley in time. They have been given seven days for submitting written clarification. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Kathmandu Valley Road Expansion Project issued a public notice on Wednesday mentioning the names of these two companies. In the notice, the KVREP has said that the two companies failed to complete their tasks in time and have shown no interest to complete the work during the extended deadline on the pretext of coronavirus crisis. KVREP has warned that it would scrap the contract and&nbsp; blacklist the two companies if their clarifications are not satisfactory.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">United Builders and Engineers was awarded the contract to construct the 3.6 kilometer section of Chabahil-Jorpati-Sankhu road six years ago. The time period for completion of the project expired six months ago. The deadline was extended for six months but the company is not in a position to complete the work, says Guru Adhikari, chief of the KVREP. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Diwa/Sailung JV is also under scrutiny for not completing the 3.2 kilometer section of Dholahiti-Sunakothi-Chapagaun road in the last five years. The company has completed only 300 meters of the road, informed Adhikari.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12511',
			'article_category_id' => '266',
			'title' => 'Hyatt Regency Kathmandu Reopens Rox Restaurant ',
			'sub_title' => '',
			'summary' => 'September 24: Hyatt Regency Kathmandu has announced the reopening of its Rox Restaurant in the first phase of resuming service post Covid-19 crisis.',
			'content' => '<p><em>Rox Restaurant. Photo Courtesy: Hyatt Regency Kathmandu</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">September 24: Hyatt Regency Kathmandu has announced the reopening of its Rox Restaurant in the first phase of resuming service post Covid-19 crisis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The hotel said in a statement that its restaurant will open adhering to international standard guidelines on safety and hygiene.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">General Manager of the hotel Rajesh Ramdas informed that they will ensure safety and hygiene of the guests as they begin phase-wise reopening of all services. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;The situation of the business is uncertain with the current effects of COVID-19, however we as a hotel are confident to operate in phase wise options moving ahead with the norms and guidelines established by concerned authorities. We will be mindful to ensure that safety and hygiene for our guests and associates will be of paramount importance in our endeavor to extend the hospitality that we are known for.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the statement, Rox Restaurant will be open from 4:00 PM to 10:00 PM daily, and will be offering a multi-cuisine, &aacute; la carte menu starting from September 25. </span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/DSC_1644.jpg" style="height:480px; width:564px" /></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;A classic blend of slate and wood, the d&eacute;cor at Rox Restaurant at Hyatt Regency Kathmandu spells individuality &mdash; a totally different experience from other dining options in the country. The restaurant is set with both indoor and alfresco seating options that will allow our guests to dine in a cosy and tranquil environment while maintaining safe physical distance and allowing for contactless payment,&rdquo; the statement further said.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to Hyatt Regency, the Rox Restaurant menu showcases the best seasonal and sustainable </span></span><span style="font-size:16.0pt"><span style="font-family:Times">ingredients in </span></span><span style="font-size:15.0pt"><span style="font-family:Times">dishes prepared by Chef de Cuisine, Bhanu Bhakta Aryal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Featured dishes include sushi maki rolls, New Zealand lamb chops, Beetroot tartar and turmeric chips, served with crispy buckwheat to name a few with focus on Hyatt&rsquo;s new concept of &ldquo;Food as Medicine&rdquo;. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The dessert menu introduces savory and sweet items such as hot chocolate pot, mango delight, and Regency truffle. To complement the menu, Rox Restaurant features a selection of beverages and premium wines, the statement added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times"><img alt="" src="/app/webroot/userfiles/images/KATHM_P115_RoxTerrace3.jpg" style="height:600px; width:419px" /></span></span></span></span></p>

<p>&nbsp;</p>
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			'image' => '20200924125405_KATHM_P112_Rox_Interior.jpg',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12510',
			'article_category_id' => '236',
			'title' => 'Renault Rolls out new Version of KWID',
			'sub_title' => '',
			'summary' => 'September 24: French automobile brand Renault has announced the launch of a new version of KWID at an attractive price starting of Rs 2.49 million in Nepal. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">September 24: French automobile brand </span><span style="font-family:Arial">Renault has announced the launch of a new version of KWID at an attractive price starting of Rs 2.49 million in Nepal. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">After the tremendous success of KWID in Nepal, the all-new Kwid is a breakthrough product in terms of design, innovation and modernity, while offering even more value and best-in-class cost of ownership, says the company in a press statement. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;Built on the pillars of attractiveness and innovation, KWID has been a game-changing product for Renault in Nepal. </span><span style="font-family:Arial">The all-new KWID is bolder, more stylish and comes loaded with many first-in-class features. The all-new KWID is available in 1.0L SCe (Smart Control efficiency) powertrains with manual and automated transmission options,&rdquo; the statement added. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Renault said it has paid careful attention to ensure that the &lsquo;attractive&rsquo; pillar of the car, which has been a key USP, is taken several notches higher with many design enhancements to the interior and exterior of the car. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;Staying true to its focus on innovation, Renault has ensured the right mix of modern and convenient features in the all-new KWID. Another aspect on which the </span><span style="font-family:Arial">all-new KWID delivers superiorly is on the ownership cost, enabled by class-leading warranty and affiliated services, which further enhance the &lsquo;affordable&rsquo; pillar of the all-new KWID,&rdquo; the statement added.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">The all-new KWID range is available across Renault dealerships starting from September 20.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Nikunj Agrawal, Managing Director of Advanced Automobile Pvt Ltd, </span><span style="font-family:Arial">said, &ldquo;Renault KWID has already established a strong and loyal customer base in Nepal and the all-new KWID will play an important role in our expansion plans and will set new benchmarks in terms of </span><span style="font-family:Arial">design, innovation and modernity</span><span style="font-family:Arial">. We are very excited to launch the all-new KWID in Nepal. Given the current environment, we are launching the car using digital platforms and we also take this opportunity request everybody to stay safe and healthy.&rdquo; </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12257',
			'image' => '20200924123547_New Kwid 2.jpg',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12509',
			'article_category_id' => '1',
			'title' => 'Rasuwagadhi Border Opens after 3 Weeks',
			'sub_title' => '',
			'summary' => 'September 24: Rasuwagadhi border has reopened from Wednesday (September 23) after a gap of almost three weeks. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Rasuwagadhi border has reopened from Wednesday (September 23) after a gap of almost three weeks. China has started sending goods across the border since Wednesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the Rasuwagadhi Customs Office, Punya Bikram Khadka, informed that China will be sending five goods-laden containers across the border per day starting from Thursday (September 24).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">On Wednesday, only one container with health equipment had entered Nepal through the border 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:&quot;Arial Unicode MS&quot;">This vital border point was closed on January 29 after coronavirus started spreading in China. It was opened four months later but was closed again after the workers involved in unloading goods at the customs point were found infected with coronavirus in late August. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal had been repeatedly requesting the Chinese side to release the goods that had been stuck since weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The customs officials have mobilized eight dozers to clear the obstruction caused by landslides along the road within Nepal&rsquo;s territory. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A Chinese delegation had paid an inspection visit to the Rasuwagadhi Customs Office on Wednesday prior to releasing the container carrying health equipment. After observing the customs office, the Chinese side agreed to unload goods in&nbsp; two shifts, informed Khadka.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The Chinese officials had visited this place to find a place across the friendship bridge where they could unload the goods,&rdquo; added Khadka. &ldquo;We are hopeful they will release more goods.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the last fiscal year, goods worth Rs 27 billion had entered Nepal through this customs point. The customs office had collected revenue worth Rs 7 billion during that period. This year, goods worth Rs 1 billion has entered through the customs point due to various obstructions.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12508',
			'article_category_id' => '1',
			'title' => 'Demand for Medicines takes a Nosedive',
			'sub_title' => 'People Avoid Visiting Hospitals and only Chronic Patients Seek Medicines',
			'summary' => 'September 23: Pharmaceutical companies have reduced their production to a large extent due to the fall in demand for medicines in the market. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 23: Pharmaceutical companies have reduced their production to a large extent due to the fall in demand for medicines in the market. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The drug manufacturers say that they were forced to cut their production as the demand for drugs other than those required for chronic illness and paracetamol have become almost nil after the government imposed lockdown to contain the spread of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to the slump in demand, the drug manufacturers have slashed their production by almost 70 percent, informed Narayan Bahadur Chhetri, president of the </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Association of Pharmaceutical Producers of Nepal (APPON).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The drug manufacturers are producing very less amount of drugs because there is no demand for drugs in the market,&rdquo; says Chhetri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Initially, the drug manufacturers lowered their production after India and China restricted supply of raw materials for the durgs and also increased their prices. But now, although the supply chain is not disrupted, there is no demand for drugs at all, says Chhetri. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Chhetri says people have started avoiding hospitals unless it is absolutely necessary due to the fear of contracting coronavirus. He considers this as the main reason for the lack of demand for medicines.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Deurali Janata Pharmaceuticals, which is the largest drug manufacturer of Nepal, stopped production for almost a month due to lack of demand for drugs in the market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Operator of the company Hari Bhakta Sharma informed that they had to halt production for some time because there wasn&rsquo;t any demand for drugs but have now resumed production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;We have been producing drugs in accordance to the market demand,&rdquo; he told New Business Age. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Chairman of Nepal Medical Association Sitaram Ghimire informed that the number of people visiting hospitals has reduced drastically in the recent days. According to Ghimire, the demand for medicines used to treat trauma, skin diseased and pain killers have dropped sharply. The demand for medicines used for the treatment of cancer, tuberculosis, diabetes and other chronic illnesses is normal, informed Ghimire. He added that the demand for psychiatric drugs has however skyrocketed in the recent days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Many people have lost their jobs. There is massive fear of pandemic, and that is why people are stressed,&rdquo; said Ghimire,, adding, &ldquo;This has resulted depression among the masses.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12507',
			'article_category_id' => '1',
			'title' => 'Recruitment of Railway Staff to be Delayed',
			'sub_title' => '',
			'summary' => 'September 23: The recruitment of railway staff for the newly established Janakpur-Jayanagar Railway is likely to be delayed due to COVID-19. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 23: The recruitment of railway staff for the newly established Janakpur-Jayanagar Railway is likely to be delayed due to COVID-19.&nbsp; It has been informed that Department of Railways will not appoint railway staff for the 34-kilometer Janakpur-Jayanagar railway immediately. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Since the operation of the train along Janakpur-Jayanagar is uncertain due to the coronavirus pandemic, authorities believe that the cost of hiring staff in such a situation may accelerate the expenditure of the railway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the Nepal Railway Company will continue the process of recruiting technical and administrative staff for the operation of the train. Guru Bhattarai, general manager of the company, informed that the government-owned company was not prepared to hire staff due to the uncertainty in the operation of the train amid COVID-19 crisis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The process of appointing the railway staff has been started. Notice has been issued for the appointment of 129 employees on contract basis. The process of hiring staff including train drivers and controllers from India has also been initiated, but there won&rsquo;t be any appointment for the time being,&rdquo; Bhattarai informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He added that the recruitment and training of the railway staff will be started soon after the containment of the virus. The government had appointed Bhattarai as the general manager of the Nepal Railway Company, which has its head office in Janakpur, only two months ago.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12506',
			'article_category_id' => '1',
			'title' => 'Survey Reveals Extent of Fallout from the Pandemic on MSMEs in Nepal ',
			'sub_title' => '',
			'summary' => 'September 23: The COVID-19 pandemic has spurred more Nepali businesses to start using internet, social media or digital platforms to seize business opportunities, in the wake of declining traditional sales.',
			'content' => '<p><em>Photo Courtesy: IFC South Asia/Facebook</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 23:</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> The COVID-19 pandemic has spurred more Nepali businesses to start using internet, social media or digital platforms to seize business opportunities, in the wake of declining traditional sales. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The finding is revealed in the COVID-19 Nepal Business Pulse Survey carried out between May 25<sup> </sup>and June 10 by the IFC and World Bank, in partnership with the government of Japan. It shows a fifth of businesses surveyed have started to use or have been using the Internet, social media, specialized apps, or digital platforms for business purposes.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The survey also reveals over half of Nepal&rsquo;s micro, small and medium enterprises (MSMEs) face the risk of permanently closing their operations within a month under the current conditions of COVID-19 impacts. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Based on a sample of more than 540 representatives from MSMEs across all provinces the survey also revealed over eighty percent of businesses have suffered from a slump in sales and have taken measures such as granting leave without pay or reduced the hours or wages of their employees. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;These findings highlight the severe burden micro, small and medium sized businesses are facing in Nepal due to the impacts of COVID-19,&rdquo; said Rolf Behrndt, IFC South Asia Manager for Advisory Services. &ldquo;We know these businesses play a vital role in Nepal&rsquo;s economy but clearly with a drop-in demand and sales, employers have had to opt for a range of measures to cope with less revenue, prompting questions about their future viability.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Forty-five percent of the firms had granted leave of absence to employees, and 27 percent had reduced working hours. Across all sectors, sizes and locations of firms, 12 percent of female employees have been put on reduced pay. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;The COVID-19 pandemic has dealt a major blow to Nepal&rsquo;s economy, with enterprises of all sizes bearing the brunt with little to no revenue. Eighty-three percent of the firms reported a decline in sales compared to the same time last year,&rdquo; said Wendy Werner, IFC Country Manager for Nepal, Bangladesh and Bhutan. &ldquo;Micro, small and medium sized businesses play a key role in helping Nepal&rsquo;s economy grow. I believe these findings would be useful in preparing a well-informed response to help the businesses get back on their feet.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">MSMEs contribute 22 per cent to the country&rsquo;s Gross Domestic Product (GDP) employing about 1.75 million people. Ten Central Bureau of Statistics projects that the fallout from the&nbsp; pandemic will mean significant contractions in the expected growth rate for the sector in the fiscal year 2020 compared to the past years.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&nbsp;&ldquo;These survey results shine a stark light on the importance of ensuring that this sector not only survives the COVID-19 pandemic but also transforms in ways that improves its resilience and capacity to contribute to economic recovery.&nbsp; To this end, the World Bank &ndash; working closely with the government and the private sector &ndash; has prepared new projects to support micro, small and medium enterprises, including in the agriculture, tourism and financial sectors,&rdquo; said Faris Hadad-Zervos, the World Bank Country Director for Maldives, Nepal and Sri Lanka. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Globally, IFC has put in place a package of measures&mdash;worth a total of $8 billion&mdash;to help sustain economies and protect jobs around the globe. In Nepal, IFC has just invested $25 million in NMB Bank to support small and medium-sized enterprises (SMEs) and green projects, and there are more under discussion with other clients.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12505',
			'article_category_id' => '1',
			'title' => 'Price of Gold Declines',
			'sub_title' => '',
			'summary' => 'September 23: The price of gold declined in the domestic market on Wednesday (September 23). ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 23: The price of gold declined in the domestic market on Wednesday (September 23). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of gold dropped by Rs 1200 per tola (11 grams approx.) on Wednesday as compared to the previous day. Gold is being traded for Rs 94,300 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold had declined by Rs 1700 on Tuesday as well. The price was stable on Sunday but increased by Rs 200 per 11 grams on Monday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the price of silver also declined by Rs 40 per 11 grams. Silver is being traded for Rs 1190 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The decline in prices of gold and silver in the Nepali market is a result of the decline in prices in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, the price of gold had crossed the mark of Rs 100,000 per 11 grams some weeks ago due to uncertainty caused by coronavirus and the trade war between USA and China. But the price started declining gradually after Russia announced vaccine for coronavirus. It is believed that international investors started investing&nbsp; in gold amid global uncertainty, triggering a price hike.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12504',
			'article_category_id' => '218',
			'title' => 'NMB Bank launches Corporate Credit Card ',
			'sub_title' => '',
			'summary' => 'September 22: NMB Bank has claimed to be the ‘first bank in Nepal’ to issue Corporate Credit Card. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: NMB Bank has claimed to be the &lsquo;first bank in Nepal&rsquo; to issue Corporate Credit Card. The bank said in a statement that it has launched NMB Bank VISA Corporate Credit Card, which shall be issued upon request to business organizations/corporate houses. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The card is to be primarily used to manage business related expenses of staff ranging from business promotion, training, client engagement, marketing and other related expenses of a business entity. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Multiple cards can be issued to individuals of the same organization with varying credit limits, reads the statement. The credit limit per organization shall be determined on the requirement of the organization.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;NMB Bank VISA Corporate Credit Card is a fresh offering in the market and we are certain that it will enable our customers in corporate and business organizations in managing their business related expenses better. Enhancing customer experience through creation of value proposition in our products is at the core of our objective and we will continue to explore avenues to enhance our brand experience,&rdquo; reads the statement issued by the bank.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12503',
			'article_category_id' => '218',
			'title' => 'Online Application for Sanima Credit Card now Available',
			'sub_title' => '',
			'summary' => 'September 22: Sanima Bank has launched online credit card facility to its “valued” customers considering the safety issues.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: Sanima Bank has launched online credit card facility to its &ldquo;valued&rdquo; customers considering the safety issues.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Customers can easily fill up the form by clicking &quot;Apply Credit Card Online&quot; icon on official website of Sanima Bank (www.sanimabank.com) without any hassle, reads a statement issued by the bank. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The bank informed that customers shall be informed about approval status of credit card through email or phone call. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Customers can apply for the credit card from anywhere and anytime, the statement further says. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">This facility has been officially launched on September 22.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Customers will get credit limit for a certain period of time and will also get discounts from various partner merchants. Beside that, credit card holders will have option to convert purchased bill into Equated Monthly Installments (EMI),&rdquo; the statement further reads. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Sanima Bank said it has been launching latest digital products for its customers in order to enhance digital experience in financial services. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Sanima Bank has been providing banking service through 82 branches, 15 extension counters and 81 ATM terminals.</span></span></span></span></p>
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			'title' => 'Over 7,000 Nepali Migrant Workers off to Foreign Employment amid Global Pandemic ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>A general view of the Tribhuvan International&nbsp; Airport in this file photo. </em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 22: With the government opening the door for foreign employment, the number of Nepali migrant workers going for foreign employment has increased drastically. A total of 7,290 Nepali workers have left the country for foreign employment as of September 18.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepali workers have started going to labour destinations for employment with new work permits and renewal of work permits.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had stopped accepting applications for work permits for foreign employment on March 11 after a surge in coronavirus infection. Since the last two months, the government has gradually started to issue work permits for foreign employment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had resumed renewal of work permits for Nepali migrant workers from June 28 while it resumed issuing new permits from September 2 onwards. Since then, more than 7,000 Nepali workers have gone to labor destinations for foreign employment, states a report prepared by the Department of Foreign Employment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Manpower companies that have sent Nepali workers aboard during the period informed that 117 individuals have traveled abroad with new work permits.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Earlier, more than 328,000 workers had returned to Nepal on leave and were stranded after the government postponed renewal and issuance of work permits. Likewise, 115,000 workers were not able to go for foreign employment despite receiving their visas. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12517',
			'article_category_id' => '1',
			'title' => 'Government Initiates Study for Construction of Flyovers in Valley',
			'sub_title' => '',
			'summary' => 'September 25: Even though there has been talks regarding construction of flyovers in the Kathmandu Valley since the last five years, the construction is still uncertain. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">September 25: Even though there has been talks regarding construction of flyovers in the Kathmandu Valley since the last five years, the construction is still uncertain. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Department of Roads suggests that there is no urgency to construct the flyovers immediately as Nepal has no prior experience in construction while the investment is extremely high.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The department says that even if the study of flyovers is carried out, the construction won&rsquo;t be completed immediately. A department source informed New Business Age that even though the construction of a flyover is on the pipeline, rumors about initiating the contract in the current fiscal year is unlikely.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The department has initiated a study in areas with high traffic congestion for the possibility of constructing flyovers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The bridge division under the department had started a preliminary study four to five years ago to see if a flyover could be built in Baneshwar area. The plan to build the flyover has been included in the budget of the current Fiscal Year 2077/78. However, it has not been decided yet at which crossroads of the valley the flyover will be constructed.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Since, the flyover will be constructed for the first time in Nepal, essential and convenient locations with relatively low risk have been selected for construction site, informed Shiva Prasad Nepal, Deputy Director General of the Department. An agreement worth Rs 5.2 million has been signed with stakeholders to study three potential locations. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">In the current fiscal year, the department has started a study to build flyovers at three intersections inside the valley, Gwarko, Satdobato and Ekantakuna utilizing Nepali consulting company and Nepali investment.</span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Market Monitoring Brings Down Soaring  Price of Onion ',
			'sub_title' => '',
			'summary' => 'September 24: The price of onion has started declining after the government stepped up market monitoring. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">September 24: The price of onion has started declining after the government stepped up market monitoring. The price had skyrocketed after a recent ban on export of onion by India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The supply of onion at Kalimati Fruits and Vegetables Market</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">has come to a halt after India banned export of onion on September 14. The price started increasing in the Nepali market from the very next 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:&quot;Bangla MN&quot;">The Commerce, Supply and Consumer Protection Department and the Kathmandu Metropolitan City started market monitoring after the businessmen started fixing the price of onion arbitrarily. Following the market inspection, the price has been gradually decreasing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The wholesale price of onion, which was Rs 60 per kilogram on September 14 as per the price list prepared by the Kalimati Fruits and Vegetables Market, increased by 99 percent to Rs 119 the next day after India imposed the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The retail stores were found selling onion for as high as Rs 160 per kg. The price of onion at Kalimati market has now dropped to Rs 102 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The concerned government departments stepped up monitoring after there was artificial shortage and black-marketing of onion. The government took action against traders who were found hoarding onion. After initiating action, the price started declining.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Director General of the Department of Commerce Netra Prasad Subedi says Nepal is dependent on India for onions and the price will remain high until India eases the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">He added that the stock of onion kept by businessmen has not finished yet and therefore the market monitoring will check the price hike to some extent.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12514',
			'article_category_id' => '1',
			'title' => 'Revenue from E-commerce to Enter Nepal through Formal Channels',
			'sub_title' => '',
			'summary' => 'September 24: Billions of rupees have been entering Nepal through unofficial channels for E-commerce. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">September 24: Billions of rupees have been entering Nepal through unofficial channels for E-commerce. There hasn&rsquo;t been any definitive data on it. The number of people generating revenue through online portals like YouTube, Facebook, Google, etc. have also been increasing. Due to the hassles in sending money to Nepal from abroad, Nepali citizens living in foreign countries have been saving money with PayPal and then spending it abroad.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">But now, Nepal Rastra Bank has made arrangements to transfer foreign currency to Nepal through online financial services. Bankers believe that this provision will make it easier for foreign currencies to enter Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has stated that the revenue from the sales of information technology expertise, posting of contents on social media and from the retail-level international business and commercial transactions can be brought to Nepal through the banking system. The payment service provider or the bank and financial institution can make the arrangements to transfer the money in domestic currency to the customer&rsquo;s wallet or any other payment gateways after the local bank receives the amount in their account. BFIs will be liable to charge the fees or other charges as fixed by the Foreign Exchange Management Department of Nepal Rastra Bank for earning the foreign currency. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Anyone can earn foreign currency in compliance with the Act on Prevention of Investment in Money Laundering and Terrorist Activities along with other related prevailing acts, laws and directives.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The Payments System Department of the central bank claims that the money received from foreign countries can be legally transferred directly to Nepalese banks through the use of various online payment services. Bhuwan Kadel, the executive director of the Payments System Department said that bringing such transactions under the banking system will help in the conversion of foreign currencies into Nepalese rupees. &ldquo;It also legalizes online ordering and payments,&rdquo; he told New Business Age, adding, &ldquo;In conclusion, the revenue can enter Nepal through the use of online payment services like Visa Card, PayPal, etc. Similarly, payment services like Esewa, Khalti, IME Pay can also be used to transfer the money earned through E-commerce in the account or wallet of the concerned person.&rdquo; He said that the central bank has created an environment which will even allow the money withheld abroad to enter the financial system of Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank maintained that it is illegal to send and receive payments abroad through informal channels. Payments for advertisements on social media is done in dollars. There isn&rsquo;t any facility for dollar exchange or payment through Nepalese medium for such work. So, Nepalese businesses, firms and organizations have been using foreign mediums too make payments for advertisements on social media. Therefore, there are no data for the amount that exits Nepal through foreign payment mediums.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Balkrishna Joshi of Thamel Remit claims that thousands of softwares are being sold through freelancing from Nepal. &ldquo;Most people work for at least 50 to 200 dollars but it is expensive to transfer it to Nepal. For the minimum amount sent by a foreign company, the service fee is more than 45 dollars. This way most of them keep their money in Payoneer Internet Wallet,&rdquo; he said, &ldquo;They make the necessary payments to different apps through it. The money therefore, is usually spent outside Nepal before entering. There are people who earn 3-4 thousand dollars monthly through their IT services given from Nepal. In this way, billions of rupees have entered Nepal illegally every year.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Joshi said that the foreign currencies earned through E-commerce can enter through Nepalese system if the government encourages a formal channel for the transfer of money. He believes that this will also help in increasing the revenue collection of the nation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bhuwan Dahal, the chairman of Nepal Bankers&rsquo; Association, said that this arrangement made by the central bank is a welcome step. </span></span></p>
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			'id' => '12513',
			'article_category_id' => '1',
			'title' => 'EDI Expected to Speed up Customs Clearance of Nepal Bound Goods',
			'sub_title' => '',
			'summary' => 'September 24: India’s Kolkota Port has made it mandatory for Nepal-bound goods from third countries to use Electronic Data Interchange (EDI) system. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: India&rsquo;s Kolkota Port has made it mandatory for Nepal-bound goods from third countries to use Electronic Data Interchange (EDI) system. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system will be implemented for goods that have to go through the Customs Transit Declaration (CTD) at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The EDI system has been introduced to remove the hassles of paper works at the port. Although this system was launched about a year ago, it was not mandatory until now.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The port officials claimed that they made this system mandatory to make the process of CTD fast and efficient. India has already made this system mandatory for goods it imports itself.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers need to submit documents for processing through online means.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers need to submit all the details of the goods including the bill, packing list, origin of product certificate, among others. With the full implementation of this system, it is believed that the importers will no longer need to present hard copy of documents to the port anymore, says Amrit Bhakta Shrestha of Customs House Agent. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, one of the importers Kamal Mantri says this new system has made the process even more longer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Earlier, it used to take one day for customs clearance but now it takes three days,&rdquo; he says, adding, &ldquo;This has caused stockpiling of 1000 containers at the port.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other agents says although this new technology is supposed to save time, it is taking longer than expected because the staff members of the customs office are not proficient to handle this new system at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">Ishwar Raj Poudel, Nepal&rsquo;s Consul General at its Kolkata-based consulate, informed that they are coordinating with the concerned officials of India for making the EDI system fast and effective.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">He further said that they are facing some glitches because this system is in its initial phase. Poudel added that they are hopeful of resolving the problems soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">&ldquo;We are facilitating in making this system more effective. Agents can complete the documentation process from their own offices and therefore this system is beneficial for the importers,&rdquo; Poudel told New Business Age. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '12260',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12512',
			'article_category_id' => '1',
			'title' => 'Government Warns of Blacklisting Two Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'September 24: The government has warned two big construction companies of blacklisting them for negligence in road expansion and other infrastructure development projects.',
			'content' => '<p><em>This file photo shows construction taking place along the Chabahil-Jorpati road. Photo NBA</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: The government has warned two big construction companies of blacklisting them for negligence in road expansion and other infrastructure development projects.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has sought clarification from United Builders and Engineers Pvt Ltd and Diwa/Sailung JV on why they should not be blacklisted for not completing major projects related to road construction in Kathmandu Valley in time. They have been given seven days for submitting written clarification. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Kathmandu Valley Road Expansion Project issued a public notice on Wednesday mentioning the names of these two companies. In the notice, the KVREP has said that the two companies failed to complete their tasks in time and have shown no interest to complete the work during the extended deadline on the pretext of coronavirus crisis. KVREP has warned that it would scrap the contract and&nbsp; blacklist the two companies if their clarifications are not satisfactory.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">United Builders and Engineers was awarded the contract to construct the 3.6 kilometer section of Chabahil-Jorpati-Sankhu road six years ago. The time period for completion of the project expired six months ago. The deadline was extended for six months but the company is not in a position to complete the work, says Guru Adhikari, chief of the KVREP. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Diwa/Sailung JV is also under scrutiny for not completing the 3.2 kilometer section of Dholahiti-Sunakothi-Chapagaun road in the last five years. The company has completed only 300 meters of the road, informed Adhikari.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12511',
			'article_category_id' => '266',
			'title' => 'Hyatt Regency Kathmandu Reopens Rox Restaurant ',
			'sub_title' => '',
			'summary' => 'September 24: Hyatt Regency Kathmandu has announced the reopening of its Rox Restaurant in the first phase of resuming service post Covid-19 crisis.',
			'content' => '<p><em>Rox Restaurant. Photo Courtesy: Hyatt Regency Kathmandu</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">September 24: Hyatt Regency Kathmandu has announced the reopening of its Rox Restaurant in the first phase of resuming service post Covid-19 crisis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The hotel said in a statement that its restaurant will open adhering to international standard guidelines on safety and hygiene.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">General Manager of the hotel Rajesh Ramdas informed that they will ensure safety and hygiene of the guests as they begin phase-wise reopening of all services. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;The situation of the business is uncertain with the current effects of COVID-19, however we as a hotel are confident to operate in phase wise options moving ahead with the norms and guidelines established by concerned authorities. We will be mindful to ensure that safety and hygiene for our guests and associates will be of paramount importance in our endeavor to extend the hospitality that we are known for.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the statement, Rox Restaurant will be open from 4:00 PM to 10:00 PM daily, and will be offering a multi-cuisine, &aacute; la carte menu starting from September 25. </span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/DSC_1644.jpg" style="height:480px; width:564px" /></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;A classic blend of slate and wood, the d&eacute;cor at Rox Restaurant at Hyatt Regency Kathmandu spells individuality &mdash; a totally different experience from other dining options in the country. The restaurant is set with both indoor and alfresco seating options that will allow our guests to dine in a cosy and tranquil environment while maintaining safe physical distance and allowing for contactless payment,&rdquo; the statement further said.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to Hyatt Regency, the Rox Restaurant menu showcases the best seasonal and sustainable </span></span><span style="font-size:16.0pt"><span style="font-family:Times">ingredients in </span></span><span style="font-size:15.0pt"><span style="font-family:Times">dishes prepared by Chef de Cuisine, Bhanu Bhakta Aryal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Featured dishes include sushi maki rolls, New Zealand lamb chops, Beetroot tartar and turmeric chips, served with crispy buckwheat to name a few with focus on Hyatt&rsquo;s new concept of &ldquo;Food as Medicine&rdquo;. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The dessert menu introduces savory and sweet items such as hot chocolate pot, mango delight, and Regency truffle. To complement the menu, Rox Restaurant features a selection of beverages and premium wines, the statement added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times"><img alt="" src="/app/webroot/userfiles/images/KATHM_P115_RoxTerrace3.jpg" style="height:600px; width:419px" /></span></span></span></span></p>

<p>&nbsp;</p>
',
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			'image' => '20200924125405_KATHM_P112_Rox_Interior.jpg',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12510',
			'article_category_id' => '236',
			'title' => 'Renault Rolls out new Version of KWID',
			'sub_title' => '',
			'summary' => 'September 24: French automobile brand Renault has announced the launch of a new version of KWID at an attractive price starting of Rs 2.49 million in Nepal. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">September 24: French automobile brand </span><span style="font-family:Arial">Renault has announced the launch of a new version of KWID at an attractive price starting of Rs 2.49 million in Nepal. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">After the tremendous success of KWID in Nepal, the all-new Kwid is a breakthrough product in terms of design, innovation and modernity, while offering even more value and best-in-class cost of ownership, says the company in a press statement. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;Built on the pillars of attractiveness and innovation, KWID has been a game-changing product for Renault in Nepal. </span><span style="font-family:Arial">The all-new KWID is bolder, more stylish and comes loaded with many first-in-class features. The all-new KWID is available in 1.0L SCe (Smart Control efficiency) powertrains with manual and automated transmission options,&rdquo; the statement added. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Renault said it has paid careful attention to ensure that the &lsquo;attractive&rsquo; pillar of the car, which has been a key USP, is taken several notches higher with many design enhancements to the interior and exterior of the car. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;Staying true to its focus on innovation, Renault has ensured the right mix of modern and convenient features in the all-new KWID. Another aspect on which the </span><span style="font-family:Arial">all-new KWID delivers superiorly is on the ownership cost, enabled by class-leading warranty and affiliated services, which further enhance the &lsquo;affordable&rsquo; pillar of the all-new KWID,&rdquo; the statement added.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">The all-new KWID range is available across Renault dealerships starting from September 20.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Nikunj Agrawal, Managing Director of Advanced Automobile Pvt Ltd, </span><span style="font-family:Arial">said, &ldquo;Renault KWID has already established a strong and loyal customer base in Nepal and the all-new KWID will play an important role in our expansion plans and will set new benchmarks in terms of </span><span style="font-family:Arial">design, innovation and modernity</span><span style="font-family:Arial">. We are very excited to launch the all-new KWID in Nepal. Given the current environment, we are launching the car using digital platforms and we also take this opportunity request everybody to stay safe and healthy.&rdquo; </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '12257',
			'image' => '20200924123547_New Kwid 2.jpg',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12509',
			'article_category_id' => '1',
			'title' => 'Rasuwagadhi Border Opens after 3 Weeks',
			'sub_title' => '',
			'summary' => 'September 24: Rasuwagadhi border has reopened from Wednesday (September 23) after a gap of almost three weeks. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Rasuwagadhi border has reopened from Wednesday (September 23) after a gap of almost three weeks. China has started sending goods across the border since Wednesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the Rasuwagadhi Customs Office, Punya Bikram Khadka, informed that China will be sending five goods-laden containers across the border per day starting from Thursday (September 24).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">On Wednesday, only one container with health equipment had entered Nepal through the border 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:&quot;Arial Unicode MS&quot;">This vital border point was closed on January 29 after coronavirus started spreading in China. It was opened four months later but was closed again after the workers involved in unloading goods at the customs point were found infected with coronavirus in late August. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal had been repeatedly requesting the Chinese side to release the goods that had been stuck since weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The customs officials have mobilized eight dozers to clear the obstruction caused by landslides along the road within Nepal&rsquo;s territory. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A Chinese delegation had paid an inspection visit to the Rasuwagadhi Customs Office on Wednesday prior to releasing the container carrying health equipment. After observing the customs office, the Chinese side agreed to unload goods in&nbsp; two shifts, informed Khadka.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The Chinese officials had visited this place to find a place across the friendship bridge where they could unload the goods,&rdquo; added Khadka. &ldquo;We are hopeful they will release more goods.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the last fiscal year, goods worth Rs 27 billion had entered Nepal through this customs point. The customs office had collected revenue worth Rs 7 billion during that period. This year, goods worth Rs 1 billion has entered through the customs point due to various obstructions.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12508',
			'article_category_id' => '1',
			'title' => 'Demand for Medicines takes a Nosedive',
			'sub_title' => 'People Avoid Visiting Hospitals and only Chronic Patients Seek Medicines',
			'summary' => 'September 23: Pharmaceutical companies have reduced their production to a large extent due to the fall in demand for medicines in the market. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 23: Pharmaceutical companies have reduced their production to a large extent due to the fall in demand for medicines in the market. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The drug manufacturers say that they were forced to cut their production as the demand for drugs other than those required for chronic illness and paracetamol have become almost nil after the government imposed lockdown to contain the spread of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to the slump in demand, the drug manufacturers have slashed their production by almost 70 percent, informed Narayan Bahadur Chhetri, president of the </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Association of Pharmaceutical Producers of Nepal (APPON).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The drug manufacturers are producing very less amount of drugs because there is no demand for drugs in the market,&rdquo; says Chhetri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Initially, the drug manufacturers lowered their production after India and China restricted supply of raw materials for the durgs and also increased their prices. But now, although the supply chain is not disrupted, there is no demand for drugs at all, says Chhetri. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Chhetri says people have started avoiding hospitals unless it is absolutely necessary due to the fear of contracting coronavirus. He considers this as the main reason for the lack of demand for medicines.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Deurali Janata Pharmaceuticals, which is the largest drug manufacturer of Nepal, stopped production for almost a month due to lack of demand for drugs in the market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Operator of the company Hari Bhakta Sharma informed that they had to halt production for some time because there wasn&rsquo;t any demand for drugs but have now resumed production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;We have been producing drugs in accordance to the market demand,&rdquo; he told New Business Age. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Chairman of Nepal Medical Association Sitaram Ghimire informed that the number of people visiting hospitals has reduced drastically in the recent days. According to Ghimire, the demand for medicines used to treat trauma, skin diseased and pain killers have dropped sharply. The demand for medicines used for the treatment of cancer, tuberculosis, diabetes and other chronic illnesses is normal, informed Ghimire. He added that the demand for psychiatric drugs has however skyrocketed in the recent days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Many people have lost their jobs. There is massive fear of pandemic, and that is why people are stressed,&rdquo; said Ghimire,, adding, &ldquo;This has resulted depression among the masses.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12507',
			'article_category_id' => '1',
			'title' => 'Recruitment of Railway Staff to be Delayed',
			'sub_title' => '',
			'summary' => 'September 23: The recruitment of railway staff for the newly established Janakpur-Jayanagar Railway is likely to be delayed due to COVID-19. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 23: The recruitment of railway staff for the newly established Janakpur-Jayanagar Railway is likely to be delayed due to COVID-19.&nbsp; It has been informed that Department of Railways will not appoint railway staff for the 34-kilometer Janakpur-Jayanagar railway immediately. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Since the operation of the train along Janakpur-Jayanagar is uncertain due to the coronavirus pandemic, authorities believe that the cost of hiring staff in such a situation may accelerate the expenditure of the railway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the Nepal Railway Company will continue the process of recruiting technical and administrative staff for the operation of the train. Guru Bhattarai, general manager of the company, informed that the government-owned company was not prepared to hire staff due to the uncertainty in the operation of the train amid COVID-19 crisis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The process of appointing the railway staff has been started. Notice has been issued for the appointment of 129 employees on contract basis. The process of hiring staff including train drivers and controllers from India has also been initiated, but there won&rsquo;t be any appointment for the time being,&rdquo; Bhattarai informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He added that the recruitment and training of the railway staff will be started soon after the containment of the virus. The government had appointed Bhattarai as the general manager of the Nepal Railway Company, which has its head office in Janakpur, only two months ago.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12506',
			'article_category_id' => '1',
			'title' => 'Survey Reveals Extent of Fallout from the Pandemic on MSMEs in Nepal ',
			'sub_title' => '',
			'summary' => 'September 23: The COVID-19 pandemic has spurred more Nepali businesses to start using internet, social media or digital platforms to seize business opportunities, in the wake of declining traditional sales.',
			'content' => '<p><em>Photo Courtesy: IFC South Asia/Facebook</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 23:</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> The COVID-19 pandemic has spurred more Nepali businesses to start using internet, social media or digital platforms to seize business opportunities, in the wake of declining traditional sales. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The finding is revealed in the COVID-19 Nepal Business Pulse Survey carried out between May 25<sup> </sup>and June 10 by the IFC and World Bank, in partnership with the government of Japan. It shows a fifth of businesses surveyed have started to use or have been using the Internet, social media, specialized apps, or digital platforms for business purposes.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The survey also reveals over half of Nepal&rsquo;s micro, small and medium enterprises (MSMEs) face the risk of permanently closing their operations within a month under the current conditions of COVID-19 impacts. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Based on a sample of more than 540 representatives from MSMEs across all provinces the survey also revealed over eighty percent of businesses have suffered from a slump in sales and have taken measures such as granting leave without pay or reduced the hours or wages of their employees. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;These findings highlight the severe burden micro, small and medium sized businesses are facing in Nepal due to the impacts of COVID-19,&rdquo; said Rolf Behrndt, IFC South Asia Manager for Advisory Services. &ldquo;We know these businesses play a vital role in Nepal&rsquo;s economy but clearly with a drop-in demand and sales, employers have had to opt for a range of measures to cope with less revenue, prompting questions about their future viability.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Forty-five percent of the firms had granted leave of absence to employees, and 27 percent had reduced working hours. Across all sectors, sizes and locations of firms, 12 percent of female employees have been put on reduced pay. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;The COVID-19 pandemic has dealt a major blow to Nepal&rsquo;s economy, with enterprises of all sizes bearing the brunt with little to no revenue. Eighty-three percent of the firms reported a decline in sales compared to the same time last year,&rdquo; said Wendy Werner, IFC Country Manager for Nepal, Bangladesh and Bhutan. &ldquo;Micro, small and medium sized businesses play a key role in helping Nepal&rsquo;s economy grow. I believe these findings would be useful in preparing a well-informed response to help the businesses get back on their feet.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">MSMEs contribute 22 per cent to the country&rsquo;s Gross Domestic Product (GDP) employing about 1.75 million people. Ten Central Bureau of Statistics projects that the fallout from the&nbsp; pandemic will mean significant contractions in the expected growth rate for the sector in the fiscal year 2020 compared to the past years.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&nbsp;&ldquo;These survey results shine a stark light on the importance of ensuring that this sector not only survives the COVID-19 pandemic but also transforms in ways that improves its resilience and capacity to contribute to economic recovery.&nbsp; To this end, the World Bank &ndash; working closely with the government and the private sector &ndash; has prepared new projects to support micro, small and medium enterprises, including in the agriculture, tourism and financial sectors,&rdquo; said Faris Hadad-Zervos, the World Bank Country Director for Maldives, Nepal and Sri Lanka. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Globally, IFC has put in place a package of measures&mdash;worth a total of $8 billion&mdash;to help sustain economies and protect jobs around the globe. In Nepal, IFC has just invested $25 million in NMB Bank to support small and medium-sized enterprises (SMEs) and green projects, and there are more under discussion with other clients.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12505',
			'article_category_id' => '1',
			'title' => 'Price of Gold Declines',
			'sub_title' => '',
			'summary' => 'September 23: The price of gold declined in the domestic market on Wednesday (September 23). ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 23: The price of gold declined in the domestic market on Wednesday (September 23). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of gold dropped by Rs 1200 per tola (11 grams approx.) on Wednesday as compared to the previous day. Gold is being traded for Rs 94,300 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold had declined by Rs 1700 on Tuesday as well. The price was stable on Sunday but increased by Rs 200 per 11 grams on Monday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the price of silver also declined by Rs 40 per 11 grams. Silver is being traded for Rs 1190 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The decline in prices of gold and silver in the Nepali market is a result of the decline in prices in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, the price of gold had crossed the mark of Rs 100,000 per 11 grams some weeks ago due to uncertainty caused by coronavirus and the trade war between USA and China. But the price started declining gradually after Russia announced vaccine for coronavirus. It is believed that international investors started investing&nbsp; in gold amid global uncertainty, triggering a price hike.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12504',
			'article_category_id' => '218',
			'title' => 'NMB Bank launches Corporate Credit Card ',
			'sub_title' => '',
			'summary' => 'September 22: NMB Bank has claimed to be the ‘first bank in Nepal’ to issue Corporate Credit Card. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: NMB Bank has claimed to be the &lsquo;first bank in Nepal&rsquo; to issue Corporate Credit Card. The bank said in a statement that it has launched NMB Bank VISA Corporate Credit Card, which shall be issued upon request to business organizations/corporate houses. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The card is to be primarily used to manage business related expenses of staff ranging from business promotion, training, client engagement, marketing and other related expenses of a business entity. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Multiple cards can be issued to individuals of the same organization with varying credit limits, reads the statement. The credit limit per organization shall be determined on the requirement of the organization.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;NMB Bank VISA Corporate Credit Card is a fresh offering in the market and we are certain that it will enable our customers in corporate and business organizations in managing their business related expenses better. Enhancing customer experience through creation of value proposition in our products is at the core of our objective and we will continue to explore avenues to enhance our brand experience,&rdquo; reads the statement issued by the bank.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12503',
			'article_category_id' => '218',
			'title' => 'Online Application for Sanima Credit Card now Available',
			'sub_title' => '',
			'summary' => 'September 22: Sanima Bank has launched online credit card facility to its “valued” customers considering the safety issues.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: Sanima Bank has launched online credit card facility to its &ldquo;valued&rdquo; customers considering the safety issues.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Customers can easily fill up the form by clicking &quot;Apply Credit Card Online&quot; icon on official website of Sanima Bank (www.sanimabank.com) without any hassle, reads a statement issued by the bank. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The bank informed that customers shall be informed about approval status of credit card through email or phone call. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Customers can apply for the credit card from anywhere and anytime, the statement further says. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">This facility has been officially launched on September 22.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Customers will get credit limit for a certain period of time and will also get discounts from various partner merchants. Beside that, credit card holders will have option to convert purchased bill into Equated Monthly Installments (EMI),&rdquo; the statement further reads. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Sanima Bank said it has been launching latest digital products for its customers in order to enhance digital experience in financial services. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Sanima Bank has been providing banking service through 82 branches, 15 extension counters and 81 ATM terminals.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12502',
			'article_category_id' => '1',
			'title' => 'Over 7,000 Nepali Migrant Workers off to Foreign Employment amid Global Pandemic ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>A general view of the Tribhuvan International&nbsp; Airport in this file photo. </em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 22: With the government opening the door for foreign employment, the number of Nepali migrant workers going for foreign employment has increased drastically. A total of 7,290 Nepali workers have left the country for foreign employment as of September 18.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepali workers have started going to labour destinations for employment with new work permits and renewal of work permits.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had stopped accepting applications for work permits for foreign employment on March 11 after a surge in coronavirus infection. Since the last two months, the government has gradually started to issue work permits for foreign employment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had resumed renewal of work permits for Nepali migrant workers from June 28 while it resumed issuing new permits from September 2 onwards. Since then, more than 7,000 Nepali workers have gone to labor destinations for foreign employment, states a report prepared by the Department of Foreign Employment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Manpower companies that have sent Nepali workers aboard during the period informed that 117 individuals have traveled abroad with new work permits.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Earlier, more than 328,000 workers had returned to Nepal on leave and were stranded after the government postponed renewal and issuance of work permits. Likewise, 115,000 workers were not able to go for foreign employment despite receiving their visas. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12517',
			'article_category_id' => '1',
			'title' => 'Government Initiates Study for Construction of Flyovers in Valley',
			'sub_title' => '',
			'summary' => 'September 25: Even though there has been talks regarding construction of flyovers in the Kathmandu Valley since the last five years, the construction is still uncertain. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">September 25: Even though there has been talks regarding construction of flyovers in the Kathmandu Valley since the last five years, the construction is still uncertain. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Department of Roads suggests that there is no urgency to construct the flyovers immediately as Nepal has no prior experience in construction while the investment is extremely high.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The department says that even if the study of flyovers is carried out, the construction won&rsquo;t be completed immediately. A department source informed New Business Age that even though the construction of a flyover is on the pipeline, rumors about initiating the contract in the current fiscal year is unlikely.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The department has initiated a study in areas with high traffic congestion for the possibility of constructing flyovers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The bridge division under the department had started a preliminary study four to five years ago to see if a flyover could be built in Baneshwar area. The plan to build the flyover has been included in the budget of the current Fiscal Year 2077/78. However, it has not been decided yet at which crossroads of the valley the flyover will be constructed.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Since, the flyover will be constructed for the first time in Nepal, essential and convenient locations with relatively low risk have been selected for construction site, informed Shiva Prasad Nepal, Deputy Director General of the Department. An agreement worth Rs 5.2 million has been signed with stakeholders to study three potential locations. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">In the current fiscal year, the department has started a study to build flyovers at three intersections inside the valley, Gwarko, Satdobato and Ekantakuna utilizing Nepali consulting company and Nepali investment.</span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Market Monitoring Brings Down Soaring  Price of Onion ',
			'sub_title' => '',
			'summary' => 'September 24: The price of onion has started declining after the government stepped up market monitoring. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">September 24: The price of onion has started declining after the government stepped up market monitoring. The price had skyrocketed after a recent ban on export of onion by India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The supply of onion at Kalimati Fruits and Vegetables Market</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">has come to a halt after India banned export of onion on September 14. The price started increasing in the Nepali market from the very next 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:&quot;Bangla MN&quot;">The Commerce, Supply and Consumer Protection Department and the Kathmandu Metropolitan City started market monitoring after the businessmen started fixing the price of onion arbitrarily. Following the market inspection, the price has been gradually decreasing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The wholesale price of onion, which was Rs 60 per kilogram on September 14 as per the price list prepared by the Kalimati Fruits and Vegetables Market, increased by 99 percent to Rs 119 the next day after India imposed the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The retail stores were found selling onion for as high as Rs 160 per kg. The price of onion at Kalimati market has now dropped to Rs 102 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The concerned government departments stepped up monitoring after there was artificial shortage and black-marketing of onion. The government took action against traders who were found hoarding onion. After initiating action, the price started declining.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Director General of the Department of Commerce Netra Prasad Subedi says Nepal is dependent on India for onions and the price will remain high until India eases the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">He added that the stock of onion kept by businessmen has not finished yet and therefore the market monitoring will check the price hike to some extent.</span></span></span></span></p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '12514',
			'article_category_id' => '1',
			'title' => 'Revenue from E-commerce to Enter Nepal through Formal Channels',
			'sub_title' => '',
			'summary' => 'September 24: Billions of rupees have been entering Nepal through unofficial channels for E-commerce. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">September 24: Billions of rupees have been entering Nepal through unofficial channels for E-commerce. There hasn&rsquo;t been any definitive data on it. The number of people generating revenue through online portals like YouTube, Facebook, Google, etc. have also been increasing. Due to the hassles in sending money to Nepal from abroad, Nepali citizens living in foreign countries have been saving money with PayPal and then spending it abroad.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">But now, Nepal Rastra Bank has made arrangements to transfer foreign currency to Nepal through online financial services. Bankers believe that this provision will make it easier for foreign currencies to enter Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has stated that the revenue from the sales of information technology expertise, posting of contents on social media and from the retail-level international business and commercial transactions can be brought to Nepal through the banking system. The payment service provider or the bank and financial institution can make the arrangements to transfer the money in domestic currency to the customer&rsquo;s wallet or any other payment gateways after the local bank receives the amount in their account. BFIs will be liable to charge the fees or other charges as fixed by the Foreign Exchange Management Department of Nepal Rastra Bank for earning the foreign currency. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Anyone can earn foreign currency in compliance with the Act on Prevention of Investment in Money Laundering and Terrorist Activities along with other related prevailing acts, laws and directives.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The Payments System Department of the central bank claims that the money received from foreign countries can be legally transferred directly to Nepalese banks through the use of various online payment services. Bhuwan Kadel, the executive director of the Payments System Department said that bringing such transactions under the banking system will help in the conversion of foreign currencies into Nepalese rupees. &ldquo;It also legalizes online ordering and payments,&rdquo; he told New Business Age, adding, &ldquo;In conclusion, the revenue can enter Nepal through the use of online payment services like Visa Card, PayPal, etc. Similarly, payment services like Esewa, Khalti, IME Pay can also be used to transfer the money earned through E-commerce in the account or wallet of the concerned person.&rdquo; He said that the central bank has created an environment which will even allow the money withheld abroad to enter the financial system of Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank maintained that it is illegal to send and receive payments abroad through informal channels. Payments for advertisements on social media is done in dollars. There isn&rsquo;t any facility for dollar exchange or payment through Nepalese medium for such work. So, Nepalese businesses, firms and organizations have been using foreign mediums too make payments for advertisements on social media. Therefore, there are no data for the amount that exits Nepal through foreign payment mediums.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Balkrishna Joshi of Thamel Remit claims that thousands of softwares are being sold through freelancing from Nepal. &ldquo;Most people work for at least 50 to 200 dollars but it is expensive to transfer it to Nepal. For the minimum amount sent by a foreign company, the service fee is more than 45 dollars. This way most of them keep their money in Payoneer Internet Wallet,&rdquo; he said, &ldquo;They make the necessary payments to different apps through it. The money therefore, is usually spent outside Nepal before entering. There are people who earn 3-4 thousand dollars monthly through their IT services given from Nepal. In this way, billions of rupees have entered Nepal illegally every year.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Joshi said that the foreign currencies earned through E-commerce can enter through Nepalese system if the government encourages a formal channel for the transfer of money. He believes that this will also help in increasing the revenue collection of the nation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bhuwan Dahal, the chairman of Nepal Bankers&rsquo; Association, said that this arrangement made by the central bank is a welcome step. </span></span></p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12513',
			'article_category_id' => '1',
			'title' => 'EDI Expected to Speed up Customs Clearance of Nepal Bound Goods',
			'sub_title' => '',
			'summary' => 'September 24: India’s Kolkota Port has made it mandatory for Nepal-bound goods from third countries to use Electronic Data Interchange (EDI) system. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: India&rsquo;s Kolkota Port has made it mandatory for Nepal-bound goods from third countries to use Electronic Data Interchange (EDI) system. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system will be implemented for goods that have to go through the Customs Transit Declaration (CTD) at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The EDI system has been introduced to remove the hassles of paper works at the port. Although this system was launched about a year ago, it was not mandatory until now.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The port officials claimed that they made this system mandatory to make the process of CTD fast and efficient. India has already made this system mandatory for goods it imports itself.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers need to submit documents for processing through online means.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers need to submit all the details of the goods including the bill, packing list, origin of product certificate, among others. With the full implementation of this system, it is believed that the importers will no longer need to present hard copy of documents to the port anymore, says Amrit Bhakta Shrestha of Customs House Agent. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, one of the importers Kamal Mantri says this new system has made the process even more longer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Earlier, it used to take one day for customs clearance but now it takes three days,&rdquo; he says, adding, &ldquo;This has caused stockpiling of 1000 containers at the port.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other agents says although this new technology is supposed to save time, it is taking longer than expected because the staff members of the customs office are not proficient to handle this new system at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">Ishwar Raj Poudel, Nepal&rsquo;s Consul General at its Kolkata-based consulate, informed that they are coordinating with the concerned officials of India for making the EDI system fast and effective.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">He further said that they are facing some glitches because this system is in its initial phase. Poudel added that they are hopeful of resolving the problems soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">&ldquo;We are facilitating in making this system more effective. Agents can complete the documentation process from their own offices and therefore this system is beneficial for the importers,&rdquo; Poudel told New Business Age. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12512',
			'article_category_id' => '1',
			'title' => 'Government Warns of Blacklisting Two Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'September 24: The government has warned two big construction companies of blacklisting them for negligence in road expansion and other infrastructure development projects.',
			'content' => '<p><em>This file photo shows construction taking place along the Chabahil-Jorpati road. Photo NBA</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: The government has warned two big construction companies of blacklisting them for negligence in road expansion and other infrastructure development projects.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has sought clarification from United Builders and Engineers Pvt Ltd and Diwa/Sailung JV on why they should not be blacklisted for not completing major projects related to road construction in Kathmandu Valley in time. They have been given seven days for submitting written clarification. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Kathmandu Valley Road Expansion Project issued a public notice on Wednesday mentioning the names of these two companies. In the notice, the KVREP has said that the two companies failed to complete their tasks in time and have shown no interest to complete the work during the extended deadline on the pretext of coronavirus crisis. KVREP has warned that it would scrap the contract and&nbsp; blacklist the two companies if their clarifications are not satisfactory.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">United Builders and Engineers was awarded the contract to construct the 3.6 kilometer section of Chabahil-Jorpati-Sankhu road six years ago. The time period for completion of the project expired six months ago. The deadline was extended for six months but the company is not in a position to complete the work, says Guru Adhikari, chief of the KVREP. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Diwa/Sailung JV is also under scrutiny for not completing the 3.2 kilometer section of Dholahiti-Sunakothi-Chapagaun road in the last five years. The company has completed only 300 meters of the road, informed Adhikari.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12511',
			'article_category_id' => '266',
			'title' => 'Hyatt Regency Kathmandu Reopens Rox Restaurant ',
			'sub_title' => '',
			'summary' => 'September 24: Hyatt Regency Kathmandu has announced the reopening of its Rox Restaurant in the first phase of resuming service post Covid-19 crisis.',
			'content' => '<p><em>Rox Restaurant. Photo Courtesy: Hyatt Regency Kathmandu</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">September 24: Hyatt Regency Kathmandu has announced the reopening of its Rox Restaurant in the first phase of resuming service post Covid-19 crisis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The hotel said in a statement that its restaurant will open adhering to international standard guidelines on safety and hygiene.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">General Manager of the hotel Rajesh Ramdas informed that they will ensure safety and hygiene of the guests as they begin phase-wise reopening of all services. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;The situation of the business is uncertain with the current effects of COVID-19, however we as a hotel are confident to operate in phase wise options moving ahead with the norms and guidelines established by concerned authorities. We will be mindful to ensure that safety and hygiene for our guests and associates will be of paramount importance in our endeavor to extend the hospitality that we are known for.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the statement, Rox Restaurant will be open from 4:00 PM to 10:00 PM daily, and will be offering a multi-cuisine, &aacute; la carte menu starting from September 25. </span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/DSC_1644.jpg" style="height:480px; width:564px" /></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;A classic blend of slate and wood, the d&eacute;cor at Rox Restaurant at Hyatt Regency Kathmandu spells individuality &mdash; a totally different experience from other dining options in the country. The restaurant is set with both indoor and alfresco seating options that will allow our guests to dine in a cosy and tranquil environment while maintaining safe physical distance and allowing for contactless payment,&rdquo; the statement further said.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to Hyatt Regency, the Rox Restaurant menu showcases the best seasonal and sustainable </span></span><span style="font-size:16.0pt"><span style="font-family:Times">ingredients in </span></span><span style="font-size:15.0pt"><span style="font-family:Times">dishes prepared by Chef de Cuisine, Bhanu Bhakta Aryal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Featured dishes include sushi maki rolls, New Zealand lamb chops, Beetroot tartar and turmeric chips, served with crispy buckwheat to name a few with focus on Hyatt&rsquo;s new concept of &ldquo;Food as Medicine&rdquo;. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The dessert menu introduces savory and sweet items such as hot chocolate pot, mango delight, and Regency truffle. To complement the menu, Rox Restaurant features a selection of beverages and premium wines, the statement added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times"><img alt="" src="/app/webroot/userfiles/images/KATHM_P115_RoxTerrace3.jpg" style="height:600px; width:419px" /></span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12510',
			'article_category_id' => '236',
			'title' => 'Renault Rolls out new Version of KWID',
			'sub_title' => '',
			'summary' => 'September 24: French automobile brand Renault has announced the launch of a new version of KWID at an attractive price starting of Rs 2.49 million in Nepal. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">September 24: French automobile brand </span><span style="font-family:Arial">Renault has announced the launch of a new version of KWID at an attractive price starting of Rs 2.49 million in Nepal. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">After the tremendous success of KWID in Nepal, the all-new Kwid is a breakthrough product in terms of design, innovation and modernity, while offering even more value and best-in-class cost of ownership, says the company in a press statement. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;Built on the pillars of attractiveness and innovation, KWID has been a game-changing product for Renault in Nepal. </span><span style="font-family:Arial">The all-new KWID is bolder, more stylish and comes loaded with many first-in-class features. The all-new KWID is available in 1.0L SCe (Smart Control efficiency) powertrains with manual and automated transmission options,&rdquo; the statement added. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Renault said it has paid careful attention to ensure that the &lsquo;attractive&rsquo; pillar of the car, which has been a key USP, is taken several notches higher with many design enhancements to the interior and exterior of the car. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;Staying true to its focus on innovation, Renault has ensured the right mix of modern and convenient features in the all-new KWID. Another aspect on which the </span><span style="font-family:Arial">all-new KWID delivers superiorly is on the ownership cost, enabled by class-leading warranty and affiliated services, which further enhance the &lsquo;affordable&rsquo; pillar of the all-new KWID,&rdquo; the statement added.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">The all-new KWID range is available across Renault dealerships starting from September 20.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Nikunj Agrawal, Managing Director of Advanced Automobile Pvt Ltd, </span><span style="font-family:Arial">said, &ldquo;Renault KWID has already established a strong and loyal customer base in Nepal and the all-new KWID will play an important role in our expansion plans and will set new benchmarks in terms of </span><span style="font-family:Arial">design, innovation and modernity</span><span style="font-family:Arial">. We are very excited to launch the all-new KWID in Nepal. Given the current environment, we are launching the car using digital platforms and we also take this opportunity request everybody to stay safe and healthy.&rdquo; </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12509',
			'article_category_id' => '1',
			'title' => 'Rasuwagadhi Border Opens after 3 Weeks',
			'sub_title' => '',
			'summary' => 'September 24: Rasuwagadhi border has reopened from Wednesday (September 23) after a gap of almost three weeks. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Rasuwagadhi border has reopened from Wednesday (September 23) after a gap of almost three weeks. China has started sending goods across the border since Wednesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the Rasuwagadhi Customs Office, Punya Bikram Khadka, informed that China will be sending five goods-laden containers across the border per day starting from Thursday (September 24).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">On Wednesday, only one container with health equipment had entered Nepal through the border 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:&quot;Arial Unicode MS&quot;">This vital border point was closed on January 29 after coronavirus started spreading in China. It was opened four months later but was closed again after the workers involved in unloading goods at the customs point were found infected with coronavirus in late August. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal had been repeatedly requesting the Chinese side to release the goods that had been stuck since weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The customs officials have mobilized eight dozers to clear the obstruction caused by landslides along the road within Nepal&rsquo;s territory. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A Chinese delegation had paid an inspection visit to the Rasuwagadhi Customs Office on Wednesday prior to releasing the container carrying health equipment. After observing the customs office, the Chinese side agreed to unload goods in&nbsp; two shifts, informed Khadka.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The Chinese officials had visited this place to find a place across the friendship bridge where they could unload the goods,&rdquo; added Khadka. &ldquo;We are hopeful they will release more goods.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the last fiscal year, goods worth Rs 27 billion had entered Nepal through this customs point. The customs office had collected revenue worth Rs 7 billion during that period. This year, goods worth Rs 1 billion has entered through the customs point due to various obstructions.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12508',
			'article_category_id' => '1',
			'title' => 'Demand for Medicines takes a Nosedive',
			'sub_title' => 'People Avoid Visiting Hospitals and only Chronic Patients Seek Medicines',
			'summary' => 'September 23: Pharmaceutical companies have reduced their production to a large extent due to the fall in demand for medicines in the market. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 23: Pharmaceutical companies have reduced their production to a large extent due to the fall in demand for medicines in the market. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The drug manufacturers say that they were forced to cut their production as the demand for drugs other than those required for chronic illness and paracetamol have become almost nil after the government imposed lockdown to contain the spread of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to the slump in demand, the drug manufacturers have slashed their production by almost 70 percent, informed Narayan Bahadur Chhetri, president of the </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Association of Pharmaceutical Producers of Nepal (APPON).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The drug manufacturers are producing very less amount of drugs because there is no demand for drugs in the market,&rdquo; says Chhetri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Initially, the drug manufacturers lowered their production after India and China restricted supply of raw materials for the durgs and also increased their prices. But now, although the supply chain is not disrupted, there is no demand for drugs at all, says Chhetri. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Chhetri says people have started avoiding hospitals unless it is absolutely necessary due to the fear of contracting coronavirus. He considers this as the main reason for the lack of demand for medicines.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Deurali Janata Pharmaceuticals, which is the largest drug manufacturer of Nepal, stopped production for almost a month due to lack of demand for drugs in the market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Operator of the company Hari Bhakta Sharma informed that they had to halt production for some time because there wasn&rsquo;t any demand for drugs but have now resumed production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;We have been producing drugs in accordance to the market demand,&rdquo; he told New Business Age. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Chairman of Nepal Medical Association Sitaram Ghimire informed that the number of people visiting hospitals has reduced drastically in the recent days. According to Ghimire, the demand for medicines used to treat trauma, skin diseased and pain killers have dropped sharply. The demand for medicines used for the treatment of cancer, tuberculosis, diabetes and other chronic illnesses is normal, informed Ghimire. He added that the demand for psychiatric drugs has however skyrocketed in the recent days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Many people have lost their jobs. There is massive fear of pandemic, and that is why people are stressed,&rdquo; said Ghimire,, adding, &ldquo;This has resulted depression among the masses.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12507',
			'article_category_id' => '1',
			'title' => 'Recruitment of Railway Staff to be Delayed',
			'sub_title' => '',
			'summary' => 'September 23: The recruitment of railway staff for the newly established Janakpur-Jayanagar Railway is likely to be delayed due to COVID-19. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 23: The recruitment of railway staff for the newly established Janakpur-Jayanagar Railway is likely to be delayed due to COVID-19.&nbsp; It has been informed that Department of Railways will not appoint railway staff for the 34-kilometer Janakpur-Jayanagar railway immediately. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Since the operation of the train along Janakpur-Jayanagar is uncertain due to the coronavirus pandemic, authorities believe that the cost of hiring staff in such a situation may accelerate the expenditure of the railway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the Nepal Railway Company will continue the process of recruiting technical and administrative staff for the operation of the train. Guru Bhattarai, general manager of the company, informed that the government-owned company was not prepared to hire staff due to the uncertainty in the operation of the train amid COVID-19 crisis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The process of appointing the railway staff has been started. Notice has been issued for the appointment of 129 employees on contract basis. The process of hiring staff including train drivers and controllers from India has also been initiated, but there won&rsquo;t be any appointment for the time being,&rdquo; Bhattarai informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He added that the recruitment and training of the railway staff will be started soon after the containment of the virus. The government had appointed Bhattarai as the general manager of the Nepal Railway Company, which has its head office in Janakpur, only two months ago.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12506',
			'article_category_id' => '1',
			'title' => 'Survey Reveals Extent of Fallout from the Pandemic on MSMEs in Nepal ',
			'sub_title' => '',
			'summary' => 'September 23: The COVID-19 pandemic has spurred more Nepali businesses to start using internet, social media or digital platforms to seize business opportunities, in the wake of declining traditional sales.',
			'content' => '<p><em>Photo Courtesy: IFC South Asia/Facebook</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 23:</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> The COVID-19 pandemic has spurred more Nepali businesses to start using internet, social media or digital platforms to seize business opportunities, in the wake of declining traditional sales. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The finding is revealed in the COVID-19 Nepal Business Pulse Survey carried out between May 25<sup> </sup>and June 10 by the IFC and World Bank, in partnership with the government of Japan. It shows a fifth of businesses surveyed have started to use or have been using the Internet, social media, specialized apps, or digital platforms for business purposes.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The survey also reveals over half of Nepal&rsquo;s micro, small and medium enterprises (MSMEs) face the risk of permanently closing their operations within a month under the current conditions of COVID-19 impacts. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Based on a sample of more than 540 representatives from MSMEs across all provinces the survey also revealed over eighty percent of businesses have suffered from a slump in sales and have taken measures such as granting leave without pay or reduced the hours or wages of their employees. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;These findings highlight the severe burden micro, small and medium sized businesses are facing in Nepal due to the impacts of COVID-19,&rdquo; said Rolf Behrndt, IFC South Asia Manager for Advisory Services. &ldquo;We know these businesses play a vital role in Nepal&rsquo;s economy but clearly with a drop-in demand and sales, employers have had to opt for a range of measures to cope with less revenue, prompting questions about their future viability.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Forty-five percent of the firms had granted leave of absence to employees, and 27 percent had reduced working hours. Across all sectors, sizes and locations of firms, 12 percent of female employees have been put on reduced pay. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;The COVID-19 pandemic has dealt a major blow to Nepal&rsquo;s economy, with enterprises of all sizes bearing the brunt with little to no revenue. Eighty-three percent of the firms reported a decline in sales compared to the same time last year,&rdquo; said Wendy Werner, IFC Country Manager for Nepal, Bangladesh and Bhutan. &ldquo;Micro, small and medium sized businesses play a key role in helping Nepal&rsquo;s economy grow. I believe these findings would be useful in preparing a well-informed response to help the businesses get back on their feet.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">MSMEs contribute 22 per cent to the country&rsquo;s Gross Domestic Product (GDP) employing about 1.75 million people. Ten Central Bureau of Statistics projects that the fallout from the&nbsp; pandemic will mean significant contractions in the expected growth rate for the sector in the fiscal year 2020 compared to the past years.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&nbsp;&ldquo;These survey results shine a stark light on the importance of ensuring that this sector not only survives the COVID-19 pandemic but also transforms in ways that improves its resilience and capacity to contribute to economic recovery.&nbsp; To this end, the World Bank &ndash; working closely with the government and the private sector &ndash; has prepared new projects to support micro, small and medium enterprises, including in the agriculture, tourism and financial sectors,&rdquo; said Faris Hadad-Zervos, the World Bank Country Director for Maldives, Nepal and Sri Lanka. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Globally, IFC has put in place a package of measures&mdash;worth a total of $8 billion&mdash;to help sustain economies and protect jobs around the globe. In Nepal, IFC has just invested $25 million in NMB Bank to support small and medium-sized enterprises (SMEs) and green projects, and there are more under discussion with other clients.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12505',
			'article_category_id' => '1',
			'title' => 'Price of Gold Declines',
			'sub_title' => '',
			'summary' => 'September 23: The price of gold declined in the domestic market on Wednesday (September 23). ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 23: The price of gold declined in the domestic market on Wednesday (September 23). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of gold dropped by Rs 1200 per tola (11 grams approx.) on Wednesday as compared to the previous day. Gold is being traded for Rs 94,300 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold had declined by Rs 1700 on Tuesday as well. The price was stable on Sunday but increased by Rs 200 per 11 grams on Monday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the price of silver also declined by Rs 40 per 11 grams. Silver is being traded for Rs 1190 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The decline in prices of gold and silver in the Nepali market is a result of the decline in prices in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, the price of gold had crossed the mark of Rs 100,000 per 11 grams some weeks ago due to uncertainty caused by coronavirus and the trade war between USA and China. But the price started declining gradually after Russia announced vaccine for coronavirus. It is believed that international investors started investing&nbsp; in gold amid global uncertainty, triggering a price hike.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12504',
			'article_category_id' => '218',
			'title' => 'NMB Bank launches Corporate Credit Card ',
			'sub_title' => '',
			'summary' => 'September 22: NMB Bank has claimed to be the ‘first bank in Nepal’ to issue Corporate Credit Card. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: NMB Bank has claimed to be the &lsquo;first bank in Nepal&rsquo; to issue Corporate Credit Card. The bank said in a statement that it has launched NMB Bank VISA Corporate Credit Card, which shall be issued upon request to business organizations/corporate houses. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The card is to be primarily used to manage business related expenses of staff ranging from business promotion, training, client engagement, marketing and other related expenses of a business entity. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Multiple cards can be issued to individuals of the same organization with varying credit limits, reads the statement. The credit limit per organization shall be determined on the requirement of the organization.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;NMB Bank VISA Corporate Credit Card is a fresh offering in the market and we are certain that it will enable our customers in corporate and business organizations in managing their business related expenses better. Enhancing customer experience through creation of value proposition in our products is at the core of our objective and we will continue to explore avenues to enhance our brand experience,&rdquo; reads the statement issued by the bank.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2020-09-22',
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			'sortorder' => '12251',
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	(int) 13 => array(
		'Article' => array(
			'id' => '12503',
			'article_category_id' => '218',
			'title' => 'Online Application for Sanima Credit Card now Available',
			'sub_title' => '',
			'summary' => 'September 22: Sanima Bank has launched online credit card facility to its “valued” customers considering the safety issues.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: Sanima Bank has launched online credit card facility to its &ldquo;valued&rdquo; customers considering the safety issues.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Customers can easily fill up the form by clicking &quot;Apply Credit Card Online&quot; icon on official website of Sanima Bank (www.sanimabank.com) without any hassle, reads a statement issued by the bank. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The bank informed that customers shall be informed about approval status of credit card through email or phone call. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Customers can apply for the credit card from anywhere and anytime, the statement further says. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">This facility has been officially launched on September 22.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Customers will get credit limit for a certain period of time and will also get discounts from various partner merchants. Beside that, credit card holders will have option to convert purchased bill into Equated Monthly Installments (EMI),&rdquo; the statement further reads. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Sanima Bank said it has been launching latest digital products for its customers in order to enhance digital experience in financial services. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Sanima Bank has been providing banking service through 82 branches, 15 extension counters and 81 ATM terminals.</span></span></span></span></p>
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	(int) 14 => array(
		'Article' => array(
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			'article_category_id' => '1',
			'title' => 'Over 7,000 Nepali Migrant Workers off to Foreign Employment amid Global Pandemic ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>A general view of the Tribhuvan International&nbsp; Airport in this file photo. </em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 22: With the government opening the door for foreign employment, the number of Nepali migrant workers going for foreign employment has increased drastically. A total of 7,290 Nepali workers have left the country for foreign employment as of September 18.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepali workers have started going to labour destinations for employment with new work permits and renewal of work permits.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had stopped accepting applications for work permits for foreign employment on March 11 after a surge in coronavirus infection. Since the last two months, the government has gradually started to issue work permits for foreign employment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had resumed renewal of work permits for Nepali migrant workers from June 28 while it resumed issuing new permits from September 2 onwards. Since then, more than 7,000 Nepali workers have gone to labor destinations for foreign employment, states a report prepared by the Department of Foreign Employment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Manpower companies that have sent Nepali workers aboard during the period informed that 117 individuals have traveled abroad with new work permits.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Earlier, more than 328,000 workers had returned to Nepal on leave and were stranded after the government postponed renewal and issuance of work permits. Likewise, 115,000 workers were not able to go for foreign employment despite receiving their visas. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12517',
			'article_category_id' => '1',
			'title' => 'Government Initiates Study for Construction of Flyovers in Valley',
			'sub_title' => '',
			'summary' => 'September 25: Even though there has been talks regarding construction of flyovers in the Kathmandu Valley since the last five years, the construction is still uncertain. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">September 25: Even though there has been talks regarding construction of flyovers in the Kathmandu Valley since the last five years, the construction is still uncertain. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The Department of Roads suggests that there is no urgency to construct the flyovers immediately as Nepal has no prior experience in construction while the investment is extremely high.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The department says that even if the study of flyovers is carried out, the construction won&rsquo;t be completed immediately. A department source informed New Business Age that even though the construction of a flyover is on the pipeline, rumors about initiating the contract in the current fiscal year is unlikely.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The department has initiated a study in areas with high traffic congestion for the possibility of constructing flyovers.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">The bridge division under the department had started a preliminary study four to five years ago to see if a flyover could be built in Baneshwar area. The plan to build the flyover has been included in the budget of the current Fiscal Year 2077/78. However, it has not been decided yet at which crossroads of the valley the flyover will be constructed.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">Since, the flyover will be constructed for the first time in Nepal, essential and convenient locations with relatively low risk have been selected for construction site, informed Shiva Prasad Nepal, Deputy Director General of the Department. An agreement worth Rs 5.2 million has been signed with stakeholders to study three potential locations. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:Calibri">In the current fiscal year, the department has started a study to build flyovers at three intersections inside the valley, Gwarko, Satdobato and Ekantakuna utilizing Nepali consulting company and Nepali investment.</span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Market Monitoring Brings Down Soaring  Price of Onion ',
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			'summary' => 'September 24: The price of onion has started declining after the government stepped up market monitoring. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">September 24: The price of onion has started declining after the government stepped up market monitoring. The price had skyrocketed after a recent ban on export of onion by India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The supply of onion at Kalimati Fruits and Vegetables Market</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">has come to a halt after India banned export of onion on September 14. The price started increasing in the Nepali market from the very next 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:&quot;Bangla MN&quot;">The Commerce, Supply and Consumer Protection Department and the Kathmandu Metropolitan City started market monitoring after the businessmen started fixing the price of onion arbitrarily. Following the market inspection, the price has been gradually decreasing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The wholesale price of onion, which was Rs 60 per kilogram on September 14 as per the price list prepared by the Kalimati Fruits and Vegetables Market, increased by 99 percent to Rs 119 the next day after India imposed the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The retail stores were found selling onion for as high as Rs 160 per kg. The price of onion at Kalimati market has now dropped to Rs 102 per kg.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The concerned government departments stepped up monitoring after there was artificial shortage and black-marketing of onion. The government took action against traders who were found hoarding onion. After initiating action, the price started declining.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Director General of the Department of Commerce Netra Prasad Subedi says Nepal is dependent on India for onions and the price will remain high until India eases the ban.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">He added that the stock of onion kept by businessmen has not finished yet and therefore the market monitoring will check the price hike to some extent.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12514',
			'article_category_id' => '1',
			'title' => 'Revenue from E-commerce to Enter Nepal through Formal Channels',
			'sub_title' => '',
			'summary' => 'September 24: Billions of rupees have been entering Nepal through unofficial channels for E-commerce. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">September 24: Billions of rupees have been entering Nepal through unofficial channels for E-commerce. There hasn&rsquo;t been any definitive data on it. The number of people generating revenue through online portals like YouTube, Facebook, Google, etc. have also been increasing. Due to the hassles in sending money to Nepal from abroad, Nepali citizens living in foreign countries have been saving money with PayPal and then spending it abroad.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">But now, Nepal Rastra Bank has made arrangements to transfer foreign currency to Nepal through online financial services. Bankers believe that this provision will make it easier for foreign currencies to enter Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank has stated that the revenue from the sales of information technology expertise, posting of contents on social media and from the retail-level international business and commercial transactions can be brought to Nepal through the banking system. The payment service provider or the bank and financial institution can make the arrangements to transfer the money in domestic currency to the customer&rsquo;s wallet or any other payment gateways after the local bank receives the amount in their account. BFIs will be liable to charge the fees or other charges as fixed by the Foreign Exchange Management Department of Nepal Rastra Bank for earning the foreign currency. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Anyone can earn foreign currency in compliance with the Act on Prevention of Investment in Money Laundering and Terrorist Activities along with other related prevailing acts, laws and directives.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The Payments System Department of the central bank claims that the money received from foreign countries can be legally transferred directly to Nepalese banks through the use of various online payment services. Bhuwan Kadel, the executive director of the Payments System Department said that bringing such transactions under the banking system will help in the conversion of foreign currencies into Nepalese rupees. &ldquo;It also legalizes online ordering and payments,&rdquo; he told New Business Age, adding, &ldquo;In conclusion, the revenue can enter Nepal through the use of online payment services like Visa Card, PayPal, etc. Similarly, payment services like Esewa, Khalti, IME Pay can also be used to transfer the money earned through E-commerce in the account or wallet of the concerned person.&rdquo; He said that the central bank has created an environment which will even allow the money withheld abroad to enter the financial system of Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Nepal Rastra Bank maintained that it is illegal to send and receive payments abroad through informal channels. Payments for advertisements on social media is done in dollars. There isn&rsquo;t any facility for dollar exchange or payment through Nepalese medium for such work. So, Nepalese businesses, firms and organizations have been using foreign mediums too make payments for advertisements on social media. Therefore, there are no data for the amount that exits Nepal through foreign payment mediums.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Balkrishna Joshi of Thamel Remit claims that thousands of softwares are being sold through freelancing from Nepal. &ldquo;Most people work for at least 50 to 200 dollars but it is expensive to transfer it to Nepal. For the minimum amount sent by a foreign company, the service fee is more than 45 dollars. This way most of them keep their money in Payoneer Internet Wallet,&rdquo; he said, &ldquo;They make the necessary payments to different apps through it. The money therefore, is usually spent outside Nepal before entering. There are people who earn 3-4 thousand dollars monthly through their IT services given from Nepal. In this way, billions of rupees have entered Nepal illegally every year.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Joshi said that the foreign currencies earned through E-commerce can enter through Nepalese system if the government encourages a formal channel for the transfer of money. He believes that this will also help in increasing the revenue collection of the nation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bhuwan Dahal, the chairman of Nepal Bankers&rsquo; Association, said that this arrangement made by the central bank is a welcome step. </span></span></p>
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			'id' => '12513',
			'article_category_id' => '1',
			'title' => 'EDI Expected to Speed up Customs Clearance of Nepal Bound Goods',
			'sub_title' => '',
			'summary' => 'September 24: India’s Kolkota Port has made it mandatory for Nepal-bound goods from third countries to use Electronic Data Interchange (EDI) system. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: India&rsquo;s Kolkota Port has made it mandatory for Nepal-bound goods from third countries to use Electronic Data Interchange (EDI) system. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system will be implemented for goods that have to go through the Customs Transit Declaration (CTD) at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The EDI system has been introduced to remove the hassles of paper works at the port. Although this system was launched about a year ago, it was not mandatory until now.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The port officials claimed that they made this system mandatory to make the process of CTD fast and efficient. India has already made this system mandatory for goods it imports itself.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers need to submit documents for processing through online means.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The importers need to submit all the details of the goods including the bill, packing list, origin of product certificate, among others. With the full implementation of this system, it is believed that the importers will no longer need to present hard copy of documents to the port anymore, says Amrit Bhakta Shrestha of Customs House Agent. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, one of the importers Kamal Mantri says this new system has made the process even more longer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Earlier, it used to take one day for customs clearance but now it takes three days,&rdquo; he says, adding, &ldquo;This has caused stockpiling of 1000 containers at the port.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other agents says although this new technology is supposed to save time, it is taking longer than expected because the staff members of the customs office are not proficient to handle this new system at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">Ishwar Raj Poudel, Nepal&rsquo;s Consul General at its Kolkata-based consulate, informed that they are coordinating with the concerned officials of India for making the EDI system fast and effective.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">He further said that they are facing some glitches because this system is in its initial phase. Poudel added that they are hopeful of resolving the problems soon.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:15.0pt"><span style="font-family:Arial">&ldquo;We are facilitating in making this system more effective. Agents can complete the documentation process from their own offices and therefore this system is beneficial for the importers,&rdquo; Poudel told New Business Age. </span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Government Warns of Blacklisting Two Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'September 24: The government has warned two big construction companies of blacklisting them for negligence in road expansion and other infrastructure development projects.',
			'content' => '<p><em>This file photo shows construction taking place along the Chabahil-Jorpati road. Photo NBA</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: The government has warned two big construction companies of blacklisting them for negligence in road expansion and other infrastructure development projects.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has sought clarification from United Builders and Engineers Pvt Ltd and Diwa/Sailung JV on why they should not be blacklisted for not completing major projects related to road construction in Kathmandu Valley in time. They have been given seven days for submitting written clarification. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Kathmandu Valley Road Expansion Project issued a public notice on Wednesday mentioning the names of these two companies. In the notice, the KVREP has said that the two companies failed to complete their tasks in time and have shown no interest to complete the work during the extended deadline on the pretext of coronavirus crisis. KVREP has warned that it would scrap the contract and&nbsp; blacklist the two companies if their clarifications are not satisfactory.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">United Builders and Engineers was awarded the contract to construct the 3.6 kilometer section of Chabahil-Jorpati-Sankhu road six years ago. The time period for completion of the project expired six months ago. The deadline was extended for six months but the company is not in a position to complete the work, says Guru Adhikari, chief of the KVREP. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Diwa/Sailung JV is also under scrutiny for not completing the 3.2 kilometer section of Dholahiti-Sunakothi-Chapagaun road in the last five years. The company has completed only 300 meters of the road, informed Adhikari.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12511',
			'article_category_id' => '266',
			'title' => 'Hyatt Regency Kathmandu Reopens Rox Restaurant ',
			'sub_title' => '',
			'summary' => 'September 24: Hyatt Regency Kathmandu has announced the reopening of its Rox Restaurant in the first phase of resuming service post Covid-19 crisis.',
			'content' => '<p><em>Rox Restaurant. Photo Courtesy: Hyatt Regency Kathmandu</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">September 24: Hyatt Regency Kathmandu has announced the reopening of its Rox Restaurant in the first phase of resuming service post Covid-19 crisis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The hotel said in a statement that its restaurant will open adhering to international standard guidelines on safety and hygiene.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">General Manager of the hotel Rajesh Ramdas informed that they will ensure safety and hygiene of the guests as they begin phase-wise reopening of all services. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;The situation of the business is uncertain with the current effects of COVID-19, however we as a hotel are confident to operate in phase wise options moving ahead with the norms and guidelines established by concerned authorities. We will be mindful to ensure that safety and hygiene for our guests and associates will be of paramount importance in our endeavor to extend the hospitality that we are known for.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the statement, Rox Restaurant will be open from 4:00 PM to 10:00 PM daily, and will be offering a multi-cuisine, &aacute; la carte menu starting from September 25. </span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/DSC_1644.jpg" style="height:480px; width:564px" /></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">&ldquo;A classic blend of slate and wood, the d&eacute;cor at Rox Restaurant at Hyatt Regency Kathmandu spells individuality &mdash; a totally different experience from other dining options in the country. The restaurant is set with both indoor and alfresco seating options that will allow our guests to dine in a cosy and tranquil environment while maintaining safe physical distance and allowing for contactless payment,&rdquo; the statement further said.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to Hyatt Regency, the Rox Restaurant menu showcases the best seasonal and sustainable </span></span><span style="font-size:16.0pt"><span style="font-family:Times">ingredients in </span></span><span style="font-size:15.0pt"><span style="font-family:Times">dishes prepared by Chef de Cuisine, Bhanu Bhakta Aryal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Featured dishes include sushi maki rolls, New Zealand lamb chops, Beetroot tartar and turmeric chips, served with crispy buckwheat to name a few with focus on Hyatt&rsquo;s new concept of &ldquo;Food as Medicine&rdquo;. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The dessert menu introduces savory and sweet items such as hot chocolate pot, mango delight, and Regency truffle. To complement the menu, Rox Restaurant features a selection of beverages and premium wines, the statement added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times"><img alt="" src="/app/webroot/userfiles/images/KATHM_P115_RoxTerrace3.jpg" style="height:600px; width:419px" /></span></span></span></span></p>

<p>&nbsp;</p>
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			'image' => '20200924125405_KATHM_P112_Rox_Interior.jpg',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12510',
			'article_category_id' => '236',
			'title' => 'Renault Rolls out new Version of KWID',
			'sub_title' => '',
			'summary' => 'September 24: French automobile brand Renault has announced the launch of a new version of KWID at an attractive price starting of Rs 2.49 million in Nepal. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">September 24: French automobile brand </span><span style="font-family:Arial">Renault has announced the launch of a new version of KWID at an attractive price starting of Rs 2.49 million in Nepal. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">After the tremendous success of KWID in Nepal, the all-new Kwid is a breakthrough product in terms of design, innovation and modernity, while offering even more value and best-in-class cost of ownership, says the company in a press statement. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;Built on the pillars of attractiveness and innovation, KWID has been a game-changing product for Renault in Nepal. </span><span style="font-family:Arial">The all-new KWID is bolder, more stylish and comes loaded with many first-in-class features. The all-new KWID is available in 1.0L SCe (Smart Control efficiency) powertrains with manual and automated transmission options,&rdquo; the statement added. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Renault said it has paid careful attention to ensure that the &lsquo;attractive&rsquo; pillar of the car, which has been a key USP, is taken several notches higher with many design enhancements to the interior and exterior of the car. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">&ldquo;Staying true to its focus on innovation, Renault has ensured the right mix of modern and convenient features in the all-new KWID. Another aspect on which the </span><span style="font-family:Arial">all-new KWID delivers superiorly is on the ownership cost, enabled by class-leading warranty and affiliated services, which further enhance the &lsquo;affordable&rsquo; pillar of the all-new KWID,&rdquo; the statement added.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">The all-new KWID range is available across Renault dealerships starting from September 20.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:Arial">Nikunj Agrawal, Managing Director of Advanced Automobile Pvt Ltd, </span><span style="font-family:Arial">said, &ldquo;Renault KWID has already established a strong and loyal customer base in Nepal and the all-new KWID will play an important role in our expansion plans and will set new benchmarks in terms of </span><span style="font-family:Arial">design, innovation and modernity</span><span style="font-family:Arial">. We are very excited to launch the all-new KWID in Nepal. Given the current environment, we are launching the car using digital platforms and we also take this opportunity request everybody to stay safe and healthy.&rdquo; </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '12257',
			'image' => '20200924123547_New Kwid 2.jpg',
			'article_date' => '2020-09-24 12:34:16',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12509',
			'article_category_id' => '1',
			'title' => 'Rasuwagadhi Border Opens after 3 Weeks',
			'sub_title' => '',
			'summary' => 'September 24: Rasuwagadhi border has reopened from Wednesday (September 23) after a gap of almost three weeks. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 24: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Rasuwagadhi border has reopened from Wednesday (September 23) after a gap of almost three weeks. China has started sending goods across the border since Wednesday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the Rasuwagadhi Customs Office, Punya Bikram Khadka, informed that China will be sending five goods-laden containers across the border per day starting from Thursday (September 24).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">On Wednesday, only one container with health equipment had entered Nepal through the border 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:&quot;Arial Unicode MS&quot;">This vital border point was closed on January 29 after coronavirus started spreading in China. It was opened four months later but was closed again after the workers involved in unloading goods at the customs point were found infected with coronavirus in late August. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal had been repeatedly requesting the Chinese side to release the goods that had been stuck since weeks.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The customs officials have mobilized eight dozers to clear the obstruction caused by landslides along the road within Nepal&rsquo;s territory. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A Chinese delegation had paid an inspection visit to the Rasuwagadhi Customs Office on Wednesday prior to releasing the container carrying health equipment. After observing the customs office, the Chinese side agreed to unload goods in&nbsp; two shifts, informed Khadka.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The Chinese officials had visited this place to find a place across the friendship bridge where they could unload the goods,&rdquo; added Khadka. &ldquo;We are hopeful they will release more goods.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the last fiscal year, goods worth Rs 27 billion had entered Nepal through this customs point. The customs office had collected revenue worth Rs 7 billion during that period. This year, goods worth Rs 1 billion has entered through the customs point due to various obstructions.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12508',
			'article_category_id' => '1',
			'title' => 'Demand for Medicines takes a Nosedive',
			'sub_title' => 'People Avoid Visiting Hospitals and only Chronic Patients Seek Medicines',
			'summary' => 'September 23: Pharmaceutical companies have reduced their production to a large extent due to the fall in demand for medicines in the market. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 23: Pharmaceutical companies have reduced their production to a large extent due to the fall in demand for medicines in the market. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The drug manufacturers say that they were forced to cut their production as the demand for drugs other than those required for chronic illness and paracetamol have become almost nil after the government imposed lockdown to contain the spread of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Due to the slump in demand, the drug manufacturers have slashed their production by almost 70 percent, informed Narayan Bahadur Chhetri, president of the </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Association of Pharmaceutical Producers of Nepal (APPON).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The drug manufacturers are producing very less amount of drugs because there is no demand for drugs in the market,&rdquo; says Chhetri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Initially, the drug manufacturers lowered their production after India and China restricted supply of raw materials for the durgs and also increased their prices. But now, although the supply chain is not disrupted, there is no demand for drugs at all, says Chhetri. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Chhetri says people have started avoiding hospitals unless it is absolutely necessary due to the fear of contracting coronavirus. He considers this as the main reason for the lack of demand for medicines.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Deurali Janata Pharmaceuticals, which is the largest drug manufacturer of Nepal, stopped production for almost a month due to lack of demand for drugs in the market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Operator of the company Hari Bhakta Sharma informed that they had to halt production for some time because there wasn&rsquo;t any demand for drugs but have now resumed production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;We have been producing drugs in accordance to the market demand,&rdquo; he told New Business Age. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Chairman of Nepal Medical Association Sitaram Ghimire informed that the number of people visiting hospitals has reduced drastically in the recent days. According to Ghimire, the demand for medicines used to treat trauma, skin diseased and pain killers have dropped sharply. The demand for medicines used for the treatment of cancer, tuberculosis, diabetes and other chronic illnesses is normal, informed Ghimire. He added that the demand for psychiatric drugs has however skyrocketed in the recent days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Many people have lost their jobs. There is massive fear of pandemic, and that is why people are stressed,&rdquo; said Ghimire,, adding, &ldquo;This has resulted depression among the masses.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12507',
			'article_category_id' => '1',
			'title' => 'Recruitment of Railway Staff to be Delayed',
			'sub_title' => '',
			'summary' => 'September 23: The recruitment of railway staff for the newly established Janakpur-Jayanagar Railway is likely to be delayed due to COVID-19. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 23: The recruitment of railway staff for the newly established Janakpur-Jayanagar Railway is likely to be delayed due to COVID-19.&nbsp; It has been informed that Department of Railways will not appoint railway staff for the 34-kilometer Janakpur-Jayanagar railway immediately. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Since the operation of the train along Janakpur-Jayanagar is uncertain due to the coronavirus pandemic, authorities believe that the cost of hiring staff in such a situation may accelerate the expenditure of the railway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the Nepal Railway Company will continue the process of recruiting technical and administrative staff for the operation of the train. Guru Bhattarai, general manager of the company, informed that the government-owned company was not prepared to hire staff due to the uncertainty in the operation of the train amid COVID-19 crisis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The process of appointing the railway staff has been started. Notice has been issued for the appointment of 129 employees on contract basis. The process of hiring staff including train drivers and controllers from India has also been initiated, but there won&rsquo;t be any appointment for the time being,&rdquo; Bhattarai informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">He added that the recruitment and training of the railway staff will be started soon after the containment of the virus. The government had appointed Bhattarai as the general manager of the Nepal Railway Company, which has its head office in Janakpur, only two months ago.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12506',
			'article_category_id' => '1',
			'title' => 'Survey Reveals Extent of Fallout from the Pandemic on MSMEs in Nepal ',
			'sub_title' => '',
			'summary' => 'September 23: The COVID-19 pandemic has spurred more Nepali businesses to start using internet, social media or digital platforms to seize business opportunities, in the wake of declining traditional sales.',
			'content' => '<p><em>Photo Courtesy: IFC South Asia/Facebook</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 23:</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> The COVID-19 pandemic has spurred more Nepali businesses to start using internet, social media or digital platforms to seize business opportunities, in the wake of declining traditional sales. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The finding is revealed in the COVID-19 Nepal Business Pulse Survey carried out between May 25<sup> </sup>and June 10 by the IFC and World Bank, in partnership with the government of Japan. It shows a fifth of businesses surveyed have started to use or have been using the Internet, social media, specialized apps, or digital platforms for business purposes.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The survey also reveals over half of Nepal&rsquo;s micro, small and medium enterprises (MSMEs) face the risk of permanently closing their operations within a month under the current conditions of COVID-19 impacts. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Based on a sample of more than 540 representatives from MSMEs across all provinces the survey also revealed over eighty percent of businesses have suffered from a slump in sales and have taken measures such as granting leave without pay or reduced the hours or wages of their employees. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;These findings highlight the severe burden micro, small and medium sized businesses are facing in Nepal due to the impacts of COVID-19,&rdquo; said Rolf Behrndt, IFC South Asia Manager for Advisory Services. &ldquo;We know these businesses play a vital role in Nepal&rsquo;s economy but clearly with a drop-in demand and sales, employers have had to opt for a range of measures to cope with less revenue, prompting questions about their future viability.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Forty-five percent of the firms had granted leave of absence to employees, and 27 percent had reduced working hours. Across all sectors, sizes and locations of firms, 12 percent of female employees have been put on reduced pay. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;The COVID-19 pandemic has dealt a major blow to Nepal&rsquo;s economy, with enterprises of all sizes bearing the brunt with little to no revenue. Eighty-three percent of the firms reported a decline in sales compared to the same time last year,&rdquo; said Wendy Werner, IFC Country Manager for Nepal, Bangladesh and Bhutan. &ldquo;Micro, small and medium sized businesses play a key role in helping Nepal&rsquo;s economy grow. I believe these findings would be useful in preparing a well-informed response to help the businesses get back on their feet.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">MSMEs contribute 22 per cent to the country&rsquo;s Gross Domestic Product (GDP) employing about 1.75 million people. Ten Central Bureau of Statistics projects that the fallout from the&nbsp; pandemic will mean significant contractions in the expected growth rate for the sector in the fiscal year 2020 compared to the past years.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&nbsp;&ldquo;These survey results shine a stark light on the importance of ensuring that this sector not only survives the COVID-19 pandemic but also transforms in ways that improves its resilience and capacity to contribute to economic recovery.&nbsp; To this end, the World Bank &ndash; working closely with the government and the private sector &ndash; has prepared new projects to support micro, small and medium enterprises, including in the agriculture, tourism and financial sectors,&rdquo; said Faris Hadad-Zervos, the World Bank Country Director for Maldives, Nepal and Sri Lanka. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Globally, IFC has put in place a package of measures&mdash;worth a total of $8 billion&mdash;to help sustain economies and protect jobs around the globe. In Nepal, IFC has just invested $25 million in NMB Bank to support small and medium-sized enterprises (SMEs) and green projects, and there are more under discussion with other clients.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '12253',
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			'article_date' => '2020-09-23 12:54:31',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '12505',
			'article_category_id' => '1',
			'title' => 'Price of Gold Declines',
			'sub_title' => '',
			'summary' => 'September 23: The price of gold declined in the domestic market on Wednesday (September 23). ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 23: The price of gold declined in the domestic market on Wednesday (September 23). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of gold dropped by Rs 1200 per tola (11 grams approx.) on Wednesday as compared to the previous day. Gold is being traded for Rs 94,300 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold had declined by Rs 1700 on Tuesday as well. The price was stable on Sunday but increased by Rs 200 per 11 grams on Monday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, the price of silver also declined by Rs 40 per 11 grams. Silver is being traded for Rs 1190 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The decline in prices of gold and silver in the Nepali market is a result of the decline in prices in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, the price of gold had crossed the mark of Rs 100,000 per 11 grams some weeks ago due to uncertainty caused by coronavirus and the trade war between USA and China. But the price started declining gradually after Russia announced vaccine for coronavirus. It is believed that international investors started investing&nbsp; in gold amid global uncertainty, triggering a price hike.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'sortorder' => '12252',
			'image' => '20200923113522_gold.jpg',
			'article_date' => '2020-09-23 11:34:48',
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	(int) 12 => array(
		'Article' => array(
			'id' => '12504',
			'article_category_id' => '218',
			'title' => 'NMB Bank launches Corporate Credit Card ',
			'sub_title' => '',
			'summary' => 'September 22: NMB Bank has claimed to be the ‘first bank in Nepal’ to issue Corporate Credit Card. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: NMB Bank has claimed to be the &lsquo;first bank in Nepal&rsquo; to issue Corporate Credit Card. The bank said in a statement that it has launched NMB Bank VISA Corporate Credit Card, which shall be issued upon request to business organizations/corporate houses. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The card is to be primarily used to manage business related expenses of staff ranging from business promotion, training, client engagement, marketing and other related expenses of a business entity. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Multiple cards can be issued to individuals of the same organization with varying credit limits, reads the statement. The credit limit per organization shall be determined on the requirement of the organization.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;NMB Bank VISA Corporate Credit Card is a fresh offering in the market and we are certain that it will enable our customers in corporate and business organizations in managing their business related expenses better. Enhancing customer experience through creation of value proposition in our products is at the core of our objective and we will continue to explore avenues to enhance our brand experience,&rdquo; reads the statement issued by the bank.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'created' => '2020-09-22',
			'modified' => '2020-09-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12251',
			'image' => '20200922043054_afadsf.jpg',
			'article_date' => '2020-09-22 16:30:13',
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	(int) 13 => array(
		'Article' => array(
			'id' => '12503',
			'article_category_id' => '218',
			'title' => 'Online Application for Sanima Credit Card now Available',
			'sub_title' => '',
			'summary' => 'September 22: Sanima Bank has launched online credit card facility to its “valued” customers considering the safety issues.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: Sanima Bank has launched online credit card facility to its &ldquo;valued&rdquo; customers considering the safety issues.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Customers can easily fill up the form by clicking &quot;Apply Credit Card Online&quot; icon on official website of Sanima Bank (www.sanimabank.com) without any hassle, reads a statement issued by the bank. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The bank informed that customers shall be informed about approval status of credit card through email or phone call. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Customers can apply for the credit card from anywhere and anytime, the statement further says. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">This facility has been officially launched on September 22.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Customers will get credit limit for a certain period of time and will also get discounts from various partner merchants. Beside that, credit card holders will have option to convert purchased bill into Equated Monthly Installments (EMI),&rdquo; the statement further reads. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Sanima Bank said it has been launching latest digital products for its customers in order to enhance digital experience in financial services. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Sanima Bank has been providing banking service through 82 branches, 15 extension counters and 81 ATM terminals.</span></span></span></span></p>
',
			'published' => true,
			'created' => '2020-09-22',
			'modified' => '2020-09-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12250',
			'image' => '20200922041938_IMG-20200916-WA0015.jpg',
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	(int) 14 => array(
		'Article' => array(
			'id' => '12502',
			'article_category_id' => '1',
			'title' => 'Over 7,000 Nepali Migrant Workers off to Foreign Employment amid Global Pandemic ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>A general view of the Tribhuvan International&nbsp; Airport in this file photo. </em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 22: With the government opening the door for foreign employment, the number of Nepali migrant workers going for foreign employment has increased drastically. A total of 7,290 Nepali workers have left the country for foreign employment as of September 18.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepali workers have started going to labour destinations for employment with new work permits and renewal of work permits.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had stopped accepting applications for work permits for foreign employment on March 11 after a surge in coronavirus infection. Since the last two months, the government has gradually started to issue work permits for foreign employment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had resumed renewal of work permits for Nepali migrant workers from June 28 while it resumed issuing new permits from September 2 onwards. Since then, more than 7,000 Nepali workers have gone to labor destinations for foreign employment, states a report prepared by the Department of Foreign Employment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Manpower companies that have sent Nepali workers aboard during the period informed that 117 individuals have traveled abroad with new work permits.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Earlier, more than 328,000 workers had returned to Nepal on leave and were stranded after the government postponed renewal and issuance of work permits. Likewise, 115,000 workers were not able to go for foreign employment despite receiving their visas. </span></span></span></span></p>

<p>&nbsp;</p>
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			'image' => '20200922040433_20200310105652_aaa.jpg',
			'article_date' => '2020-09-22 16:03:42',
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