September 22: Tea producers of Nepal will be able to use the trademark for their products in the international market for the first time in two years after the government introduced trademark certification for the Nepalese orthodox…
September 22: Tea producers of Nepal will be able to use the trademark for their products in the international market for the first time in two years after the government introduced trademark certification for the Nepalese orthodox…
September 22: Companies and women in Nepal would stand to benefit if greater action was taken to improve women’s participation and contribution to the hydropower sector, reveals a new study conducted by the…
September 22: Nepali migrant workers can send home money from foreign countries through digital medium from now…
September 21: The Agriculture Inputs Company Limited (Krishi Samagri Company Limited) has called tender to bring 50,000 tons of urea from…
September 21: Although the government has decided to give customs clearance to peas, pepper and betel nuts stopped at various transit points of the country due to import restrictions, it has still not decided anything about importing dates held at the customs…
September 21: Domestic flights have resumed in Nepal on Monday after almost six months of ban, which was imposed to curb the spread of…
September 21: Chinese smartphone brand OPPO announced that it will be launching its latest flagship smartphone, OPPO F17 Pro, in Nepal soon.…
September 21: Hansraj Hulaschand & Co Pvt Ltd, the sole authorized distributor of Bajaj motorcycles in Nepal, has launched “Rojerai Khusi” scheme for the upcoming Dahsain and Tihar…
September 20: The election for a new executive committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has been scheduled for late…
September 20: Nepal Rastra Bank (NRB) has directed all banks and financial institutions (BFIs) to fix their interest rates on all personal loans like home loans and auto loans before the end of Ashoj (October…
September 20: Train service takes at least a month and a half to come in regular operation.…
September 20: Industrialists of the Bara-Parsa Industrial Corridor have become hopeful of better production after the government eased the prohibitory order, allowing public transportation and opening…
September 20: The World Bank has approved a $200 million “Finance for Growth” development policy credit to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal’s COVID-19 resilience and recovery…
September 18: Online payment gateways are planning to provide interest on customers’ mobile wallet after Nepal Rastra Bank gave them the permission to do…
September 18: The government has prepared the work procedure to avail loan at 5 percent interest to the industries affected by…
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The trademark was made public by the government two years ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Advisor to the Nepal Tea Planters Association Udaya Chapagain believes that the use of trademark logo will enhance the reputation of Nepalese tea 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:"Arial Unicode MS"">Tea was introduced in Nepal some 157 years ago, when Colonel Gajraj Singh Thapa – the son-in-law of Junga Bahadur Rana – brought saplings of tea from China and started commercial farming in Nepal, informed Chapagain.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The tea producers have to file an application with the board by fulfilling all the criteria in order to use the trademark.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had introduced Nepal Orthodox Tea Certification Trademark Implementation Regulation 2074 some two and a half years ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">There are around 100 small and medium sized tea industries in Nepal and they have to produce tea by following the standard set by the board in order to acquire the trademark certification.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/20181213020242_tea%20farm.jpg" style="height:533px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12248', 'image' => '20200922031750_20190507024542_aaa.jpg', 'article_date' => '2020-09-22 15:15:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12500', 'article_category_id' => '1', 'title' => 'IFC Report urges Companies to Boost Women’s Participation in Hydropower Sector', 'sub_title' => '', 'summary' => 'September 22: Companies and women in Nepal would stand to benefit if greater action was taken to improve women’s participation and contribution to the hydropower sector, reveals a new study conducted by the IFC.', 'content' => '<p><span style="font-size:14px"><em><span style="font-family:Cambria"><span style="font-family:Arial">This photo taken from Twitter shows Wendy Werner, IFC country manager for Nepal, Bangladesh and Bhutan.</span></span></em></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Companies and women in Nepal would stand to benefit if greater action was taken to improve women’s participation and contribution to the hydropower sector, reveals a new study conducted by the IFC.</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">IFC, a member of the World Bank Group, calls for companies to adopt gender sensitive policies and practices to attract more women into working in the hydropower. </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">“Women make up more than half of Nepal’s population, yet the study reveals only 10 percent of all employees in the country’s hydropower sector are women,” said Wendy Werner, IFC country manager for Nepal, Bangladesh and Bhutan. “Companies need to seize the opportunity to embark on more gender-sensitive and family-friendly policies to help boost staff productivity and attract and retain talent which will ultimately boost their businesses.” </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 study of 20 companies is part of the Powered by Women initiative—a time-bound commitment by companies to build the business case for improved gender equality and diversity in renewable energy companies in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“We recognize the need to make conscious efforts to increase the number of women in power sector. Our organization has already taken a forward step by making women participation in the executive committee mandatory,” said Ashish Garg, vice president of the Independent Power Producers’ Association of Nepal (IPPAN). “By partnering with IFC in this important initiative we are committing to championing this cause.”</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 report recommends that companies need to develop and enforce gender-sensitive policies, including mechanisms to address cases of bullying, sexual harassment, abuse and exploitation. </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">More tailored programs to support professional development opportunities for women, such as more robust recruiting efforts directed at women’s advancement into leadership positions and targets for diversity in board representation, are also encouraged. Meanwhile, at the community level, the report urges increased support from companies to women-led businesses, including improving their access to finance, and efforts to train women in non-traditional roles within the sector. </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 study – spearheaded by IFC’s Hydro Environmental and Social Advisory team in partnership with the governments of Australia, Norway and Japan –shows very few of those employed are in leadership positions, included in corporate boards or occupy non-traditional roles in the hydropower sector. </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">“Despite the considerable scope for women to take up non-traditional roles in the hydropower sector, we found that most companies in Nepal have not yet initiated adequate efforts to realize this,” said Kate Lazarus, team leader of Asia Environment and Social Governance for IFC. “While some companies, particularly those led by women entrepreneurs, do show willingness in this regard, there are still challenges in transforming that intent into action on the ground.”</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">Gender stereotyping, remoteness of hydropower project sites and a lack of women in science, technology, engineering, and math education have been identified as key constraints for women’s participation in this sector. Concerns around initial investment costs and uncertainty over whether there will be a pay off in the short- to medium-term were also inhibiting factors, according to the study.</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">Nepal ranks 105 out of 149 countries on the Global Gender Gap Index 2018 conducted by the World Economic Forum, indicating that there is still a critical need to focus on gender equality across various spheres.</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 study was conducted between 2019 and 2020. Over two dozen executives and almost 250 employees working in 20 companies within Nepal’s hydropower industry contributed to the research. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12247', 'image' => '20200922012047_HX9N.jpg', 'article_date' => '2020-09-22 13:19:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12499', 'article_category_id' => '1', 'title' => 'Remittance Service goes Digital in Nepal', 'sub_title' => '', 'summary' => 'September 22: Nepali migrant workers can send home money from foreign countries through digital medium from now onwards.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 22: Nepali migrant workers can send home money from foreign countries through digital medium from now onwards.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has made arrangement for the migrant workers to send remittance through mobile and internet banking as well as electronic cards, digital wallets and other electronic 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:Arial">The Foreign Exchange Management Department of the Nepal Rastra Bank issued a notice on Monday (September 21) informing about the new arrangement which has effectively ended the compulsion for people to rely upon remittance agents or visit banks to receive remittance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">In order to benefit from this service, the migrant workers need to activate digital service like mobile and internet banking from their respective banks in Nepal as well as Nepali payment gateways that provide digital wallet service.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">With this new system, money transferred from abroad will be available in Nepal instantly and the details of the transaction will also be available, says NRB.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Executive Director of the central bank’s Foreign Exchange Management Department Bam Bahadur Mishra claimed that this new system will address the problem of entering wrong account number and also get rid of the hassles of showing one’s citizenship certificate to receive the amount.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the central bank introduced this system ahead of Dashain considering the fact that the remittance inflow to Nepal increases significantly during the festive season.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“This arrangement will allow migrant workers to send money using their smart phones and other digital technology. But the users must activate digital service first,” says Mishra.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The mobile and internet banking services provided by banks can be used to avail this facility. The migrant workers can also use eSewa, IME Pay, Fone Pay, Khalti among 14 payment gateways to send money from abroad, according to NRB.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, for the service to work seamlessly, the banks and remittance service providers have to collaborate with the electronic payment gateways of the respective countries.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12246', 'image' => '20200922112956_20200422112714_remit.jpg', 'article_date' => '2020-09-22 11:28:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12498', 'article_category_id' => '1', 'title' => 'Fertilizers from Bangladesh to Arrive after More than a Month', 'sub_title' => 'Agriculture Inputs Company Limited Calls Tender for Bringing the Fertilizers', 'summary' => 'September 21: The Agriculture Inputs Company Limited (Krishi Samagri Company Limited) has called tender to bring 50,000 tons of urea from Bangladesh.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 21: The Agriculture Inputs Company Limited (Krishi Samagri Company Limited) has called tender to bring 50,000 tons of urea from Bangladesh. The government had handed the responsibility of bringing the fertilizers from Bangladesh on loan to the Agriculture Inputs Company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had asked for assistance from Bangladesh to supply urea after the farmers faced acute shortage of the chemical fertilizer during the planting season this year. The KP Oli-led government had reached an understanding with Bangladesh three weeks ago to receive the fertilizer on condition that it will return the same amount of fertilizer to Bangladesh after eight months.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A cabinet meeting last Thursday handed over the responsibility of bringing the fertilizer to the Agriculture Inputs Company, following which the company called for tender bids.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Chief of the purchase division of Agriculture Inputs Company, Bishnu Pokharel, informed that they are planning to bring the fertilizer from Chittagong of Bangladesh. For this, the company has issued tender with a deadline of seven days. The state-owned company informed that it will take around 25 days to finalize the deal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is estimated that it will take at least a month for the fertilizers to reach Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Ministry of Agriculture and Livestock Development, Bangladesh has a stock of 1 million tons of urea from which it will lend 50,000 tons to Nepal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12245', 'image' => '20200921054244_20200907122502_597613093.Clipboard02.jpg', 'article_date' => '2020-09-21 17:42:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12496', 'article_category_id' => '1', 'title' => '50 Containers of Dates Stopped in Birgunj Start Rotting', 'sub_title' => '', 'summary' => 'September 21: Although the government has decided to give customs clearance to peas, pepper and betel nuts stopped at various transit points of the country due to import restrictions, it has still not decided anything about importing dates held at the customs points.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 21: Although the government has decided to give customs clearance to peas, pepper and betel nuts stopped at various transit points of the country due to import restrictions, it has still not decided anything about importing dates held at the customs points.</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">About 50 containers of dates have been stranded at the Birgunj Dry Port as the government has not decided what to do with them. It has been reported that the dates have started rotting because they have been held at the customs points for a long time. The government on April 29 had banned the import of dates, pepper, peas and betel nuts, citing increasing pressure on foreign exchange reserves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Prior to giving the green signal to import the peas, pepper and betel nuts, 1,000 containers of these goods were stopped at various entry points because they were imported without the prior approval of the Department of Food Technology and Quality Control.</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">A cabinet meeting held on August 29 had decided to allow the entry of peas and pepper for once. Earlier, the cabinet had also decided to release the betel nuts stopped at the checkpoints.</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, importer Navneet Agrawal informed that even though peas, pepper and betel nuts were approved for clearance, only dates have been stopped at the ports for more than five months. </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">Agrawal has accused the government of discrimination for allowing the import of peas, pepper and betel nuts while restricting the dates. </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 restricted the import of all of them at the same time but has removed the restriction on only peas, pepper and betel nuts,” he informed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12244', 'image' => '20200921015539_1600646914.78.jpg', 'article_date' => '2020-09-21 13:55:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12494', 'article_category_id' => '1', 'title' => 'Domestic Flights Resume from Today', 'sub_title' => '', 'summary' => 'September 21: Domestic flights have resumed in Nepal on Monday after almost six months of ban, which was imposed to curb the spread of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 21: Domestic flights have resumed in Nepal on Monday after almost six months of ban, which was imposed to curb 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:Arial">The government has allowed private companies to operate only 25 percent of flights compared to normal days.</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">Airline companies such as Buddha Air and Yeti Airlines offered pre booking service since last Friday. More than 70 percent seats of all airline companies have been booked, the airline operators informed on Sunday. </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">Shree Airlines will be opening bookings only after a few days, informed the company’s manager Anil Manandhar.</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">Buddha Air confirmed 70 percent bookings as of Sunday evening (September 20). Buddha Air’s manager Rupesh Shrestha informed New Business Age that they have received permission to operate 17 flights on Monday (September 21).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, Yeti Airlines’ spokesperson Sudarshan Bartaula said that the company will be operating 11 flights a day.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Nepal Airlines Corporation, the state-owned company of Nepal, has also unveiled its flights schedule. As per the schedule, the flag carrier of Nepal will conduct 10 flights a day to various destinations.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Civil Aviation Authority of Nepal (CAAN) informed that the airline companies have been allowed to resume flights by following health safety standards set by the government and the international protocols of the ICAO.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">People with symptoms of coronavirus will be barred from flights. The airports have been instructed to check the body temperatures of the passengers twice and to follow contactless check-in, maintain physical distance and use hand sanitizers for the passengers. The passengers have also been instructed to compulsorily wear masks and visors. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The airline companies have been permitted to carry passengers in full capacity and so the airfare has not increased. Although the government had lifted a ban on domestic flights from September 17, the airline operators had suspended flights demanding operating flights in full capacity.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government had earlier decided to allow private airliners to resume flights with 50 percent passengers. But the government later backtracked from its decision and agreed to the demand of the airline operators.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12243', 'image' => '20200921111110_1600647868.ghj.jpg', 'article_date' => '2020-09-21 11:10:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12497', 'article_category_id' => '1', 'title' => 'OPPO to Launch F17 Pro in Nepal Soon', 'sub_title' => '', 'summary' => 'September 21: Chinese smartphone brand OPPO announced that it will be launching its latest flagship smartphone, OPPO F17 Pro, in Nepal soon. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">September 21: Chinese smartphone brand OPPO announced that it will be launching its latest flagship smartphone, OPPO F17 Pro, in Nepal soon. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company has started promotional activities ahead of the launch of the latest device in the F series of smartphones via its social media platforms. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">OPPO's brand ambassador, actress Swastima Khadka, along with stars from the Nepali Film Industry such as Anoop Bikram Shahi, Alisha Rai, and photographer/filmmaker Sanjog Rai were also seen indulging in promotion of the upcoming phone through their respective social media handles. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The F series smartphones were one of the most popular from OPPO and was first launched by the company in 2016 in Nepal, reads a statement issued by the company. And now, the company is all set to add to the series by launching the OPPO F17 Pro, which it claims will help to further elevate the series with its ultra sleek fashionable design and innovative technologies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company further claims that the OPPO F17 Pro is expected to redefine the standards of lightweight and design, making it the most fashionable F series smartphone by OPPO.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company hasn’t given a specific launch timeline for the OPPO F17 Pro phone in Nepal. However, from the language that the company is using in its teaser for the phone, it appears the launch of the phone could just be around the corner.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">As, of now the specs of the F17 Pro hasn't yet been officially announced, even though the expectation is that the phone will maintain the certain design elements while improving at the same time on core specs to ensure that the phone can truly emerge as an upgrade on the F15 series. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12242', 'image' => '20200921040115_Screenshot_20200921_155728.jpg', 'article_date' => '2020-09-21 16:00:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12495', 'article_category_id' => '1', 'title' => 'Bajaj’s Announces Festive Offer', 'sub_title' => '', 'summary' => 'September 21: Hansraj Hulaschand & Co Pvt Ltd, the sole authorized distributor of Bajaj motorcycles in Nepal, has launched “Rojerai Khusi” scheme for the upcoming Dahsain and Tihar festival.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">September 21: Hansraj Hulaschand & Co Pvt Ltd, the sole authorized distributor of Bajaj motorcycles in Nepal, has launched “Rojerai Khusi” scheme for the upcoming Dahsain and Tihar festival.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">Bajaj said in a statement that the company has always come up with exciting schemes and offers for the customers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">“Even in the time of COVID-19 pandemic, Bajaj is trying to scatter happiness among the customers by providing offers as per their need. On this auspicious occasion of Dashain and Tihar festival, Bajaj provides an opportunity for customers to enjoy the benefits of three different schemes and happily celebrate the festivals ensuring their safety,” reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">Under this new scheme, customers can purchase any brand new Bajaj motorcycle by choosing one among the three available offers – either cash discount of Rs 10,000 or zero percent interest on a 50 percent down payment or financing on a 20 percent down payment. This offer is available in all showrooms across the country, the statement added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">After the announcement, Shekhar Golchha, managing director of Hansraj Hulaschand & Co Pvt Ltd, shared, “Bajaj is always driven towards providing our customers with exciting and beneficial offers as per the need of time. We are glad to be the reason for customer’s happiness and Rojerai Khusi is perfect to be part of their celebration in this festival season. We hope our customers will be delighted with this offer.” </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12241', 'image' => '20200921122714_Mnemonic 2.jpg', 'article_date' => '2020-09-21 12:26:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12493', 'article_category_id' => '1', 'title' => 'FNCCI Election to be Held in Late November ', 'sub_title' => '', 'summary' => 'September 20: The election for a new executive committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has been scheduled for late November.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 20: The election for a new executive committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has been scheduled for late November. The election has been delayed time and again due to 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:"Arial Unicode MS"">A meeting of the office bearers of FNCCI on Friday decided to hold the 45<sup>th</sup> General Assembly and election of FNCCI on November 26-27. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The date fixed for the election is yet to be approved by the executive committee of FNCCI. The umbrella body of entrepreneurs and industrialists of Nepal has called its executive committee meeting in late September to discuss about the General Assembly and the election. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The meeting will endorse the date of election, informed FNCCI Vice President Chandra Dhakal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We will initiate the process to seek permission from the government to hold the General Assembly before the executive committee meeting. The executive committee will decide on the modality of election,” Dhakal 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:"Arial Unicode MS"">“The executive committee meeting is scheduled for September 27-28,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, two factions of FNCCI were divided over the date of election. But all sides have agreed to the new date of election, informed Kishor Pradhan, district vice president of FNCCI.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It has been learnt that the FNCCI is preparing to hold its General Assembly through Zoom meeting while the election will be held in Kathmandu by following the health protocols set by the government.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12240', 'image' => '20200920053207_1600556458.Clipboard06.jpg', 'article_date' => '2020-09-20 17:31:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12492', 'article_category_id' => '1', 'title' => 'BFIs Instructed to Fix Stable Interest Rates on Personal Loans ', 'sub_title' => '', 'summary' => 'September 20: Nepal Rastra Bank (NRB) has directed all banks and financial institutions (BFIs) to fix their interest rates on all personal loans like home loans and auto loans before the end of Ashoj (October 16).', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">September 20: Nepal Rastra Bank (NRB) has directed all banks and financial institutions (BFIs) to fix their interest rates on all personal loans like home loans and auto loans before the end of Ashoj (October 16). The central bank had issued the Unified Directive 2077 more than two weeks ago , instructing all BFIs to fix a stable interest rates on personal loans, with more than one year to maturity.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">The central bank has given the deadline of October 16, after the bankers expressed the need for more time to conduct necessary studies and analyses before fixing and implementing the stable rate of interest.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Dev Kumar Dhakal, executive director of the Banking and Financial Institutions Regulation Department of NRB, said that the banks have been given some time to make necessary arrangements to fix their long-term interest rates and to manage the risks associated with it. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">“The loans taken at a rate of 8 percent have been increased to 15 percent. Many customers complained about the fact that the interest rates keep rising,” he told New Business Age, adding, “This is why the banks will have to determine a fixed interest rate along with the necessary plans for managing their risks.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Debtors had to constantly worry about the new rates as the banks usually increased their interest rates every 3 months. All the debtors complain about facing difficulties every time the interest rates increased. The policy for a fixed interest rate was introduced to put an end to this. Since this rate will have to be implemented for a long term, commercial banks, development banks and finance companies are busy studying and analyzing before determining their rates.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">The interest rates on deposits and loans have been decreasing as banks have a liquidity of around Rs 200 billion. Bankers said that they are trying to determine the appropriate long-term fixed interest rates for personal loans by studying and employing proper strategies. Banks have also been analyzing the changes in the interest rates on deposits and loans in the last 30 years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Bhuwan Kumar Dahal, chairman of Nepal Bankers’ Association, said that they were studying about how international banks have fixed their interest rates on personal loans. “All of the banks are studying each and every aspect of fixed interest rates in their own ways,” he said, “If necessary, the association will also conduct a study.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Saroj Kaji Tuladar, president of Nepal Financial Institutions Association, also said that finance companies have also been analyzing the rates of the last 30 years on loans and deposits to determine their fixed rates. He believes that this will allow them to understand how and when the rates changed in the long term, which will help them to determine their fixed interest rates. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">“It may be risky to fix the interest rates for a long term in a country with a volatile economy. That is why we had requested the central bank to determine the fixed interest rates for 1-2 years.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Banks and financial institutions will give the customers the choice to opt for the fixed interest rates on personal loans with more than one year to maturity. NRB has made a provision that will allow the customer to choose either a fixed interest rate or a floating rate that change with the changes in the base rate of the BFIs. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">According to NRB, the terms and conditions of the personal loans including home loans and auto loans will have to be updated as per the customer’s request, to maintain the fixed interest rate on the monthly/ quarterly/ periodic installments before the implementation of this directive.</span></span></span><br /> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12239', 'image' => '20200920041120_1600382287.bbbb.jpg', 'article_date' => '2020-09-20 16:10:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12491', 'article_category_id' => '1', 'title' => 'Much-Hyped Train Sent Back to India from Janakpur ', 'sub_title' => '', 'summary' => 'September 20: Train service takes at least a month and a half to come in regular operation. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 20: Train service takes at least a month and a half to come in regular operation. </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">September 20: The train that arrived in Janakpur on September 18 for trial has been returned back to India due to lack of necessary preparations for regular operation here in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Despite the government's announcement to operate the train as early as possible, the train has been sent back to India due to lack of preparation by the authorities of the Railways Department. The authorities are unable to complete the necessary preparation even after a year and a half since the project was initiated.</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">Meanwhile, Nepal Railway Company has informed that it will take them at least a month and a half to initiate regular operation of the train.</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">Although the train was tested along the 34-kilometer-long section of Janakpur-Jaynagar on Friday (September 20), the inability of the concerned authorities to have necessary manpower compelled the train to return back to India for security reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepal Railway Company has not recruited the necessary technical and administrative staff for the operation of the railway. Likewise, the process of bringing railway engineers from India has not been completed by the railway authority of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepal Railway Company Limited issued notice on September 13 to appoint 139 employees. The company has called for applications for contract services within 15 days. Government authorities estimate that they will need at least one and a half to two months to complete the recruitment process.</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">Guru Bhattarai, general manager of the company, informed that the decision about bringing the railway engineers from India will be taken in the coming week. </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 further informed that if the train is not operated for a long time, the parts may deteriorate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12238', 'image' => '20200920025413_1600555970.4.jpg', 'article_date' => '2020-09-20 14:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12490', 'article_category_id' => '1', 'title' => 'Industrialists Hopeful of Revival of Economic Activities during Festive Season', 'sub_title' => '', 'summary' => 'September 20: Industrialists of the Bara-Parsa Industrial Corridor have become hopeful of better production after the government eased the prohibitory order, allowing public transportation and opening markets.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 20: Industrialists of the Bara-Parsa Industrial Corridor have become hopeful of better production after the government eased the prohibitory order, allowing public transportation and opening markets.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the removal of restrictions, import through Birgunj customs point has also increased.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chief of the BIrgunj-based Integrated Check Post (ICP) Gopal Khatri confirmed that the import through Birgunj has increased.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The import has increased after the government lifted ban on transportation. Around 600 vehicles get customs clearance on a daily basis now,” said Khatri.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During normal days, around 700 cargo vehicles enter Nepal through this customs point, informed Khatri. However, during the lockdown period, around 15- to 450 vehicles used to enter Nepal per day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Import of goods for the festive season and new automobiles has increased,” added Khatri.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the festive season just around the corner and the government lifting restrictions, chairman of Birgunj Chamber of Commerce Gopal Kedia expects a major boost in economic activities.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The situation is better than before. But still the market can remain open for a limited period only. Customers haven’t shown up as expected. But we are hopeful that our business will pick up pace as the festive season is approaching,” says Kedia.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The district administration has allowed the market place in Birgunj to open from 11 am to 4 pm.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Industrial activities have obviously started increasing after the restrictions on transportation were lifted and the market started opening,” says Babulal Chachan, chairman of Chachan Group. “However, it will take some time for the business activities to return to normalcy as the market has been badly affected by six months of restrictions,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Production of more than 1000 industries in the corridor has been badly affected by the four-month lockdown and the subsequent prohibitory order.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12237', 'image' => '20200920113142_Clipboard41(13).jpg', 'article_date' => '2020-09-20 11:31:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12489', 'article_category_id' => '1', 'title' => 'World Bank Approves $200 Million to Strengthen Nepal’s Financial Sector ', 'sub_title' => '', 'summary' => 'September 20: The World Bank has approved a $200 million “Finance for Growth” development policy credit to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal’s COVID-19 resilience and recovery efforts.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 20: </span></span><span style="font-size:14.0pt"><span style="font-family:Times">The World Bank has approved a $200 million “Finance for Growth” development policy credit to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal’s COVID-19 resilience and recovery efforts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The World Bank said in a statement that the “Finance for Growth” operation will support enhanced supervision of risks confronting the banking and financial institutions, especially in the context of the pandemic’s impacts. The operation will also help build capital, insurance, venture capital and private equity and disaster risk financing markets through regulatory reforms. This will help open new investment opportunities for market actors and crowd-in private financing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“In this era of COVID-19, protecting people’s lives is the priority, but giving a boost to economic recovery is equally urgent,” the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka, as saying. “This project and World Bank support will pave the way for the financial sector and capital and insurance markets to strengthen resilience and more effectively contribute to Nepal’s COVID-19 recovery.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The other critical area of focus is to expand access to finance for households, women and firms through regulatory and other reforms that will attract additional inflow of international finance and mobilize digital services, credit infrastructure and literacy programs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“The project supports the government’s significant reform agenda to enable the financial sector to better respond to the new socio-economic challenges arising from the COVID-19 pandemic,” stated Peter Mousley, Project Task Team Leader of the World Bank, adding, “Initiatives to extend access to digital financial services and attract private financing to complement the government’s fiscal resources to address disasters are two innovations that will significantly benefit households and women in Nepal.” </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12236', 'image' => '20200920100437_WORLD-BANK-696x447.jpg', 'article_date' => '2020-09-20 10:03:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12488', 'article_category_id' => '1', 'title' => 'Customers of Digital Wallets to get Interest ', 'sub_title' => '', 'summary' => 'September 18: Online payment gateways are planning to provide interest on customers’ mobile wallet after Nepal Rastra Bank gave them the permission to do so.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">September 18: Online payment gateways are planning to provide interest on customers’ mobile wallet after Nepal Rastra Bank gave them the permission to do so.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The Payment and Settlement Regulations 2077 issued three months ago has a provision that allows the organizations willing to provide interest to their customers to do so by seeking permission from the central bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Mobile wallets aren’t generally used for the purpose of keeping deposits. The Payment System Department of the central bank informed that all of the payment service providers have shown their curiosity about the new provision.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">However, IME Pay has been providing interest to its customers that have the minimum balance in their accounts prior to the issuance of this regulation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">IME Pay had obtained permission for the operation of its business from the central bank three years ago under the name ‘IME Digital Solution Limited’. It had submitted an application to provide interest to its customers on the minimum balance in their wallet a year later. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Sudeep Sigdel, the compliance manager of IME Pay, said that after receiving the permission from the central bank and making the necessary technical arrangements, this facility is being provided to their customers since the last six months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, the interest rate on the minimum balance (Rs 1000) in the super-wallet was determined as the same rate provided in the general savings account of Global IME Bank. “In coordination with the bank, the interest will be provided on a quarterly basis to the customers. We have been providing interest from the beginning of the lockdown (March). This has been very profitable for our customers,” he told New Business Age.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He claims that this facility has encouraged the customers. According to him, IME Pay has a total of one million customers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Other online payment providers are also planning to implement this system after IME Pay. E-sewa has already started its internal work for it. Roshan Lamichhane, the CEO of E-sewa said that they will apply for the permission from the central bank only after completing internal preparation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> “Since the money in the wallet and the responsibility of the interest will be given to a bank, there are still some discussions to be done. It is necessary to reach to an agreement with Nabil Bank, which is the bank that we are coordinating with,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The maximum limit of money transfer and payment will be Rs 25,000 per transaction, Rs 100,000 per day and Rs 500,000 per month through an agent/ sub-agent to the wallet, bank account to the wallet, the wallet to another bank account or one wallet to another wallet. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There is no limit for transferring money from the wallet to the wallet carrier’s bank account.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There are 14 payment service providers in operation till now. They are Phone Pay, Cellcom, CG Pay, Sparrow Pay (Khalti), Pay Nep, Q Pay, Nepal Paytime, Smart Card Nepal, Mohar Digital, Prabhu Technologies, E-Net Payment, Focusone Payment Solution Pvt. Ltd. And Kurakani Pvt. Ltd.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Four more such companies are in the process of coming into operation. The central bank has already given the Letter of Intent to Nepal Digital Payment Company, Buddha Light International Pvt. Ltd., ICash Pvt. Ltd. And Chhito Paisa Pvt. Ltd. for conducting electronic transactions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There will now be 18 payment service providers in the market soon.</span></span></p> ', 'published' => true, 'created' => '2020-09-18', 'modified' => '2020-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '12235', 'image' => '20200918073634_digita.jpg', 'article_date' => '2020-09-18 19:35:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12487', 'article_category_id' => '1', 'title' => 'Work Procedure to Avail Concessional Loan Ready', 'sub_title' => '', 'summary' => 'September 18: The government has prepared the work procedure to avail loan at 5 percent interest to the industries affected by coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 18: The government has prepared the work procedure to avail loan at 5 percent interest to the industries affected by 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:"Arial Unicode MS"">Finance ministry will submit the work procedure to the next cabinet meeting for the mobilization of a relief fund of Rs 50 billion from which the concessional loan will be provided. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank had prepared the work procedure and submitted it to the finance ministry. The ministry will be presenting it to the Council of Ministers, informed officials.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Joint secretary at the finance ministry Jhak Prasad Acharya informed that they have completed all preparations to present the work procedure during the next cabinet meeting.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to NRB Spokesperson Dr Gunakar Bhatta, the work procedure has been prepared in line with the announcement made in the annual budget and the monetary policy for the current fiscal year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-18', 'modified' => '2020-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '12234', 'image' => '20200918011828_rises 2.jpg', 'article_date' => '2020-09-18 13:17:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12501', 'article_category_id' => '1', 'title' => '12 Companies get Permission to use Trademark for Nepalese Orthodox Tea', 'sub_title' => '', 'summary' => 'September 22: Tea producers of Nepal will be able to use the trademark for their products in the international market for the first time in two years after the government introduced trademark certification for the Nepalese orthodox tea.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 22: Tea producers of Nepal will be able to use the trademark for their products in the international market for the first time in two years after the government introduced trademark certification for the Nepalese orthodox tea.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Out of 42 companies that had filed application to use the trademark with the tagline ‘Nepal Tea Quality from the Himalayas’, 12 have been granted permission to use the trademark logo.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister for Agriculture and Livestock Development Ghanshyam Bhusan was scheduled to distribute certificates to the companies amid a programme in Fikal of Ilam district on Tuesday (September 22). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Regional chief of the National Tea and Coffee Development Board Indra Prasad Adhikari informed that these 12 companies will now be able to export Nepali orthodox tea with the trademark logo. The trademark was made public by the government two years ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Advisor to the Nepal Tea Planters Association Udaya Chapagain believes that the use of trademark logo will enhance the reputation of Nepalese tea 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:"Arial Unicode MS"">Tea was introduced in Nepal some 157 years ago, when Colonel Gajraj Singh Thapa – the son-in-law of Junga Bahadur Rana – brought saplings of tea from China and started commercial farming in Nepal, informed Chapagain.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The tea producers have to file an application with the board by fulfilling all the criteria in order to use the trademark.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had introduced Nepal Orthodox Tea Certification Trademark Implementation Regulation 2074 some two and a half years ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">There are around 100 small and medium sized tea industries in Nepal and they have to produce tea by following the standard set by the board in order to acquire the trademark certification.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/20181213020242_tea%20farm.jpg" style="height:533px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12248', 'image' => '20200922031750_20190507024542_aaa.jpg', 'article_date' => '2020-09-22 15:15:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12500', 'article_category_id' => '1', 'title' => 'IFC Report urges Companies to Boost Women’s Participation in Hydropower Sector', 'sub_title' => '', 'summary' => 'September 22: Companies and women in Nepal would stand to benefit if greater action was taken to improve women’s participation and contribution to the hydropower sector, reveals a new study conducted by the IFC.', 'content' => '<p><span style="font-size:14px"><em><span style="font-family:Cambria"><span style="font-family:Arial">This photo taken from Twitter shows Wendy Werner, IFC country manager for Nepal, Bangladesh and Bhutan.</span></span></em></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Companies and women in Nepal would stand to benefit if greater action was taken to improve women’s participation and contribution to the hydropower sector, reveals a new study conducted by the IFC.</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">IFC, a member of the World Bank Group, calls for companies to adopt gender sensitive policies and practices to attract more women into working in the hydropower. </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">“Women make up more than half of Nepal’s population, yet the study reveals only 10 percent of all employees in the country’s hydropower sector are women,” said Wendy Werner, IFC country manager for Nepal, Bangladesh and Bhutan. “Companies need to seize the opportunity to embark on more gender-sensitive and family-friendly policies to help boost staff productivity and attract and retain talent which will ultimately boost their businesses.” </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 study of 20 companies is part of the Powered by Women initiative—a time-bound commitment by companies to build the business case for improved gender equality and diversity in renewable energy companies in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“We recognize the need to make conscious efforts to increase the number of women in power sector. Our organization has already taken a forward step by making women participation in the executive committee mandatory,” said Ashish Garg, vice president of the Independent Power Producers’ Association of Nepal (IPPAN). “By partnering with IFC in this important initiative we are committing to championing this cause.”</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 report recommends that companies need to develop and enforce gender-sensitive policies, including mechanisms to address cases of bullying, sexual harassment, abuse and exploitation. </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">More tailored programs to support professional development opportunities for women, such as more robust recruiting efforts directed at women’s advancement into leadership positions and targets for diversity in board representation, are also encouraged. Meanwhile, at the community level, the report urges increased support from companies to women-led businesses, including improving their access to finance, and efforts to train women in non-traditional roles within the sector. </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 study – spearheaded by IFC’s Hydro Environmental and Social Advisory team in partnership with the governments of Australia, Norway and Japan –shows very few of those employed are in leadership positions, included in corporate boards or occupy non-traditional roles in the hydropower sector. </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">“Despite the considerable scope for women to take up non-traditional roles in the hydropower sector, we found that most companies in Nepal have not yet initiated adequate efforts to realize this,” said Kate Lazarus, team leader of Asia Environment and Social Governance for IFC. “While some companies, particularly those led by women entrepreneurs, do show willingness in this regard, there are still challenges in transforming that intent into action on the ground.”</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">Gender stereotyping, remoteness of hydropower project sites and a lack of women in science, technology, engineering, and math education have been identified as key constraints for women’s participation in this sector. Concerns around initial investment costs and uncertainty over whether there will be a pay off in the short- to medium-term were also inhibiting factors, according to the study.</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">Nepal ranks 105 out of 149 countries on the Global Gender Gap Index 2018 conducted by the World Economic Forum, indicating that there is still a critical need to focus on gender equality across various spheres.</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 study was conducted between 2019 and 2020. Over two dozen executives and almost 250 employees working in 20 companies within Nepal’s hydropower industry contributed to the research. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12247', 'image' => '20200922012047_HX9N.jpg', 'article_date' => '2020-09-22 13:19:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12499', 'article_category_id' => '1', 'title' => 'Remittance Service goes Digital in Nepal', 'sub_title' => '', 'summary' => 'September 22: Nepali migrant workers can send home money from foreign countries through digital medium from now onwards.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 22: Nepali migrant workers can send home money from foreign countries through digital medium from now onwards.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has made arrangement for the migrant workers to send remittance through mobile and internet banking as well as electronic cards, digital wallets and other electronic 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:Arial">The Foreign Exchange Management Department of the Nepal Rastra Bank issued a notice on Monday (September 21) informing about the new arrangement which has effectively ended the compulsion for people to rely upon remittance agents or visit banks to receive remittance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">In order to benefit from this service, the migrant workers need to activate digital service like mobile and internet banking from their respective banks in Nepal as well as Nepali payment gateways that provide digital wallet service.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">With this new system, money transferred from abroad will be available in Nepal instantly and the details of the transaction will also be available, says NRB.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Executive Director of the central bank’s Foreign Exchange Management Department Bam Bahadur Mishra claimed that this new system will address the problem of entering wrong account number and also get rid of the hassles of showing one’s citizenship certificate to receive the amount.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the central bank introduced this system ahead of Dashain considering the fact that the remittance inflow to Nepal increases significantly during the festive season.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“This arrangement will allow migrant workers to send money using their smart phones and other digital technology. But the users must activate digital service first,” says Mishra.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The mobile and internet banking services provided by banks can be used to avail this facility. The migrant workers can also use eSewa, IME Pay, Fone Pay, Khalti among 14 payment gateways to send money from abroad, according to NRB.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, for the service to work seamlessly, the banks and remittance service providers have to collaborate with the electronic payment gateways of the respective countries.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12246', 'image' => '20200922112956_20200422112714_remit.jpg', 'article_date' => '2020-09-22 11:28:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12498', 'article_category_id' => '1', 'title' => 'Fertilizers from Bangladesh to Arrive after More than a Month', 'sub_title' => 'Agriculture Inputs Company Limited Calls Tender for Bringing the Fertilizers', 'summary' => 'September 21: The Agriculture Inputs Company Limited (Krishi Samagri Company Limited) has called tender to bring 50,000 tons of urea from Bangladesh.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 21: The Agriculture Inputs Company Limited (Krishi Samagri Company Limited) has called tender to bring 50,000 tons of urea from Bangladesh. The government had handed the responsibility of bringing the fertilizers from Bangladesh on loan to the Agriculture Inputs Company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had asked for assistance from Bangladesh to supply urea after the farmers faced acute shortage of the chemical fertilizer during the planting season this year. The KP Oli-led government had reached an understanding with Bangladesh three weeks ago to receive the fertilizer on condition that it will return the same amount of fertilizer to Bangladesh after eight months.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A cabinet meeting last Thursday handed over the responsibility of bringing the fertilizer to the Agriculture Inputs Company, following which the company called for tender bids.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Chief of the purchase division of Agriculture Inputs Company, Bishnu Pokharel, informed that they are planning to bring the fertilizer from Chittagong of Bangladesh. For this, the company has issued tender with a deadline of seven days. The state-owned company informed that it will take around 25 days to finalize the deal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is estimated that it will take at least a month for the fertilizers to reach Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Ministry of Agriculture and Livestock Development, Bangladesh has a stock of 1 million tons of urea from which it will lend 50,000 tons to Nepal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12245', 'image' => '20200921054244_20200907122502_597613093.Clipboard02.jpg', 'article_date' => '2020-09-21 17:42:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12496', 'article_category_id' => '1', 'title' => '50 Containers of Dates Stopped in Birgunj Start Rotting', 'sub_title' => '', 'summary' => 'September 21: Although the government has decided to give customs clearance to peas, pepper and betel nuts stopped at various transit points of the country due to import restrictions, it has still not decided anything about importing dates held at the customs points.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 21: Although the government has decided to give customs clearance to peas, pepper and betel nuts stopped at various transit points of the country due to import restrictions, it has still not decided anything about importing dates held at the customs points.</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">About 50 containers of dates have been stranded at the Birgunj Dry Port as the government has not decided what to do with them. It has been reported that the dates have started rotting because they have been held at the customs points for a long time. The government on April 29 had banned the import of dates, pepper, peas and betel nuts, citing increasing pressure on foreign exchange reserves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Prior to giving the green signal to import the peas, pepper and betel nuts, 1,000 containers of these goods were stopped at various entry points because they were imported without the prior approval of the Department of Food Technology and Quality Control.</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">A cabinet meeting held on August 29 had decided to allow the entry of peas and pepper for once. Earlier, the cabinet had also decided to release the betel nuts stopped at the checkpoints.</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, importer Navneet Agrawal informed that even though peas, pepper and betel nuts were approved for clearance, only dates have been stopped at the ports for more than five months. </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">Agrawal has accused the government of discrimination for allowing the import of peas, pepper and betel nuts while restricting the dates. </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 restricted the import of all of them at the same time but has removed the restriction on only peas, pepper and betel nuts,” he informed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12244', 'image' => '20200921015539_1600646914.78.jpg', 'article_date' => '2020-09-21 13:55:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12494', 'article_category_id' => '1', 'title' => 'Domestic Flights Resume from Today', 'sub_title' => '', 'summary' => 'September 21: Domestic flights have resumed in Nepal on Monday after almost six months of ban, which was imposed to curb the spread of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 21: Domestic flights have resumed in Nepal on Monday after almost six months of ban, which was imposed to curb 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:Arial">The government has allowed private companies to operate only 25 percent of flights compared to normal days.</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">Airline companies such as Buddha Air and Yeti Airlines offered pre booking service since last Friday. More than 70 percent seats of all airline companies have been booked, the airline operators informed on Sunday. </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">Shree Airlines will be opening bookings only after a few days, informed the company’s manager Anil Manandhar.</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">Buddha Air confirmed 70 percent bookings as of Sunday evening (September 20). Buddha Air’s manager Rupesh Shrestha informed New Business Age that they have received permission to operate 17 flights on Monday (September 21).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, Yeti Airlines’ spokesperson Sudarshan Bartaula said that the company will be operating 11 flights a day.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Nepal Airlines Corporation, the state-owned company of Nepal, has also unveiled its flights schedule. As per the schedule, the flag carrier of Nepal will conduct 10 flights a day to various destinations.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Civil Aviation Authority of Nepal (CAAN) informed that the airline companies have been allowed to resume flights by following health safety standards set by the government and the international protocols of the ICAO.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">People with symptoms of coronavirus will be barred from flights. The airports have been instructed to check the body temperatures of the passengers twice and to follow contactless check-in, maintain physical distance and use hand sanitizers for the passengers. The passengers have also been instructed to compulsorily wear masks and visors. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The airline companies have been permitted to carry passengers in full capacity and so the airfare has not increased. Although the government had lifted a ban on domestic flights from September 17, the airline operators had suspended flights demanding operating flights in full capacity.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government had earlier decided to allow private airliners to resume flights with 50 percent passengers. But the government later backtracked from its decision and agreed to the demand of the airline operators.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12243', 'image' => '20200921111110_1600647868.ghj.jpg', 'article_date' => '2020-09-21 11:10:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12497', 'article_category_id' => '1', 'title' => 'OPPO to Launch F17 Pro in Nepal Soon', 'sub_title' => '', 'summary' => 'September 21: Chinese smartphone brand OPPO announced that it will be launching its latest flagship smartphone, OPPO F17 Pro, in Nepal soon. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">September 21: Chinese smartphone brand OPPO announced that it will be launching its latest flagship smartphone, OPPO F17 Pro, in Nepal soon. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company has started promotional activities ahead of the launch of the latest device in the F series of smartphones via its social media platforms. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">OPPO's brand ambassador, actress Swastima Khadka, along with stars from the Nepali Film Industry such as Anoop Bikram Shahi, Alisha Rai, and photographer/filmmaker Sanjog Rai were also seen indulging in promotion of the upcoming phone through their respective social media handles. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The F series smartphones were one of the most popular from OPPO and was first launched by the company in 2016 in Nepal, reads a statement issued by the company. And now, the company is all set to add to the series by launching the OPPO F17 Pro, which it claims will help to further elevate the series with its ultra sleek fashionable design and innovative technologies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company further claims that the OPPO F17 Pro is expected to redefine the standards of lightweight and design, making it the most fashionable F series smartphone by OPPO.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company hasn’t given a specific launch timeline for the OPPO F17 Pro phone in Nepal. However, from the language that the company is using in its teaser for the phone, it appears the launch of the phone could just be around the corner.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">As, of now the specs of the F17 Pro hasn't yet been officially announced, even though the expectation is that the phone will maintain the certain design elements while improving at the same time on core specs to ensure that the phone can truly emerge as an upgrade on the F15 series. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12242', 'image' => '20200921040115_Screenshot_20200921_155728.jpg', 'article_date' => '2020-09-21 16:00:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12495', 'article_category_id' => '1', 'title' => 'Bajaj’s Announces Festive Offer', 'sub_title' => '', 'summary' => 'September 21: Hansraj Hulaschand & Co Pvt Ltd, the sole authorized distributor of Bajaj motorcycles in Nepal, has launched “Rojerai Khusi” scheme for the upcoming Dahsain and Tihar festival.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">September 21: Hansraj Hulaschand & Co Pvt Ltd, the sole authorized distributor of Bajaj motorcycles in Nepal, has launched “Rojerai Khusi” scheme for the upcoming Dahsain and Tihar festival.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">Bajaj said in a statement that the company has always come up with exciting schemes and offers for the customers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">“Even in the time of COVID-19 pandemic, Bajaj is trying to scatter happiness among the customers by providing offers as per their need. On this auspicious occasion of Dashain and Tihar festival, Bajaj provides an opportunity for customers to enjoy the benefits of three different schemes and happily celebrate the festivals ensuring their safety,” reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">Under this new scheme, customers can purchase any brand new Bajaj motorcycle by choosing one among the three available offers – either cash discount of Rs 10,000 or zero percent interest on a 50 percent down payment or financing on a 20 percent down payment. This offer is available in all showrooms across the country, the statement added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">After the announcement, Shekhar Golchha, managing director of Hansraj Hulaschand & Co Pvt Ltd, shared, “Bajaj is always driven towards providing our customers with exciting and beneficial offers as per the need of time. We are glad to be the reason for customer’s happiness and Rojerai Khusi is perfect to be part of their celebration in this festival season. We hope our customers will be delighted with this offer.” </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12241', 'image' => '20200921122714_Mnemonic 2.jpg', 'article_date' => '2020-09-21 12:26:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12493', 'article_category_id' => '1', 'title' => 'FNCCI Election to be Held in Late November ', 'sub_title' => '', 'summary' => 'September 20: The election for a new executive committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has been scheduled for late November.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 20: The election for a new executive committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has been scheduled for late November. The election has been delayed time and again due to 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:"Arial Unicode MS"">A meeting of the office bearers of FNCCI on Friday decided to hold the 45<sup>th</sup> General Assembly and election of FNCCI on November 26-27. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The date fixed for the election is yet to be approved by the executive committee of FNCCI. The umbrella body of entrepreneurs and industrialists of Nepal has called its executive committee meeting in late September to discuss about the General Assembly and the election. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The meeting will endorse the date of election, informed FNCCI Vice President Chandra Dhakal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We will initiate the process to seek permission from the government to hold the General Assembly before the executive committee meeting. The executive committee will decide on the modality of election,” Dhakal 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:"Arial Unicode MS"">“The executive committee meeting is scheduled for September 27-28,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, two factions of FNCCI were divided over the date of election. But all sides have agreed to the new date of election, informed Kishor Pradhan, district vice president of FNCCI.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It has been learnt that the FNCCI is preparing to hold its General Assembly through Zoom meeting while the election will be held in Kathmandu by following the health protocols set by the government.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12240', 'image' => '20200920053207_1600556458.Clipboard06.jpg', 'article_date' => '2020-09-20 17:31:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12492', 'article_category_id' => '1', 'title' => 'BFIs Instructed to Fix Stable Interest Rates on Personal Loans ', 'sub_title' => '', 'summary' => 'September 20: Nepal Rastra Bank (NRB) has directed all banks and financial institutions (BFIs) to fix their interest rates on all personal loans like home loans and auto loans before the end of Ashoj (October 16).', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">September 20: Nepal Rastra Bank (NRB) has directed all banks and financial institutions (BFIs) to fix their interest rates on all personal loans like home loans and auto loans before the end of Ashoj (October 16). The central bank had issued the Unified Directive 2077 more than two weeks ago , instructing all BFIs to fix a stable interest rates on personal loans, with more than one year to maturity.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">The central bank has given the deadline of October 16, after the bankers expressed the need for more time to conduct necessary studies and analyses before fixing and implementing the stable rate of interest.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Dev Kumar Dhakal, executive director of the Banking and Financial Institutions Regulation Department of NRB, said that the banks have been given some time to make necessary arrangements to fix their long-term interest rates and to manage the risks associated with it. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">“The loans taken at a rate of 8 percent have been increased to 15 percent. Many customers complained about the fact that the interest rates keep rising,” he told New Business Age, adding, “This is why the banks will have to determine a fixed interest rate along with the necessary plans for managing their risks.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Debtors had to constantly worry about the new rates as the banks usually increased their interest rates every 3 months. All the debtors complain about facing difficulties every time the interest rates increased. The policy for a fixed interest rate was introduced to put an end to this. Since this rate will have to be implemented for a long term, commercial banks, development banks and finance companies are busy studying and analyzing before determining their rates.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">The interest rates on deposits and loans have been decreasing as banks have a liquidity of around Rs 200 billion. Bankers said that they are trying to determine the appropriate long-term fixed interest rates for personal loans by studying and employing proper strategies. Banks have also been analyzing the changes in the interest rates on deposits and loans in the last 30 years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Bhuwan Kumar Dahal, chairman of Nepal Bankers’ Association, said that they were studying about how international banks have fixed their interest rates on personal loans. “All of the banks are studying each and every aspect of fixed interest rates in their own ways,” he said, “If necessary, the association will also conduct a study.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Saroj Kaji Tuladar, president of Nepal Financial Institutions Association, also said that finance companies have also been analyzing the rates of the last 30 years on loans and deposits to determine their fixed rates. He believes that this will allow them to understand how and when the rates changed in the long term, which will help them to determine their fixed interest rates. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">“It may be risky to fix the interest rates for a long term in a country with a volatile economy. That is why we had requested the central bank to determine the fixed interest rates for 1-2 years.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Banks and financial institutions will give the customers the choice to opt for the fixed interest rates on personal loans with more than one year to maturity. NRB has made a provision that will allow the customer to choose either a fixed interest rate or a floating rate that change with the changes in the base rate of the BFIs. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">According to NRB, the terms and conditions of the personal loans including home loans and auto loans will have to be updated as per the customer’s request, to maintain the fixed interest rate on the monthly/ quarterly/ periodic installments before the implementation of this directive.</span></span></span><br /> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12239', 'image' => '20200920041120_1600382287.bbbb.jpg', 'article_date' => '2020-09-20 16:10:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12491', 'article_category_id' => '1', 'title' => 'Much-Hyped Train Sent Back to India from Janakpur ', 'sub_title' => '', 'summary' => 'September 20: Train service takes at least a month and a half to come in regular operation. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 20: Train service takes at least a month and a half to come in regular operation. </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">September 20: The train that arrived in Janakpur on September 18 for trial has been returned back to India due to lack of necessary preparations for regular operation here in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Despite the government's announcement to operate the train as early as possible, the train has been sent back to India due to lack of preparation by the authorities of the Railways Department. The authorities are unable to complete the necessary preparation even after a year and a half since the project was initiated.</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">Meanwhile, Nepal Railway Company has informed that it will take them at least a month and a half to initiate regular operation of the train.</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">Although the train was tested along the 34-kilometer-long section of Janakpur-Jaynagar on Friday (September 20), the inability of the concerned authorities to have necessary manpower compelled the train to return back to India for security reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepal Railway Company has not recruited the necessary technical and administrative staff for the operation of the railway. Likewise, the process of bringing railway engineers from India has not been completed by the railway authority of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepal Railway Company Limited issued notice on September 13 to appoint 139 employees. The company has called for applications for contract services within 15 days. Government authorities estimate that they will need at least one and a half to two months to complete the recruitment process.</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">Guru Bhattarai, general manager of the company, informed that the decision about bringing the railway engineers from India will be taken in the coming week. </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 further informed that if the train is not operated for a long time, the parts may deteriorate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12238', 'image' => '20200920025413_1600555970.4.jpg', 'article_date' => '2020-09-20 14:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12490', 'article_category_id' => '1', 'title' => 'Industrialists Hopeful of Revival of Economic Activities during Festive Season', 'sub_title' => '', 'summary' => 'September 20: Industrialists of the Bara-Parsa Industrial Corridor have become hopeful of better production after the government eased the prohibitory order, allowing public transportation and opening markets.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 20: Industrialists of the Bara-Parsa Industrial Corridor have become hopeful of better production after the government eased the prohibitory order, allowing public transportation and opening markets.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the removal of restrictions, import through Birgunj customs point has also increased.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chief of the BIrgunj-based Integrated Check Post (ICP) Gopal Khatri confirmed that the import through Birgunj has increased.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The import has increased after the government lifted ban on transportation. Around 600 vehicles get customs clearance on a daily basis now,” said Khatri.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During normal days, around 700 cargo vehicles enter Nepal through this customs point, informed Khatri. However, during the lockdown period, around 15- to 450 vehicles used to enter Nepal per day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Import of goods for the festive season and new automobiles has increased,” added Khatri.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the festive season just around the corner and the government lifting restrictions, chairman of Birgunj Chamber of Commerce Gopal Kedia expects a major boost in economic activities.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The situation is better than before. But still the market can remain open for a limited period only. Customers haven’t shown up as expected. But we are hopeful that our business will pick up pace as the festive season is approaching,” says Kedia.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The district administration has allowed the market place in Birgunj to open from 11 am to 4 pm.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Industrial activities have obviously started increasing after the restrictions on transportation were lifted and the market started opening,” says Babulal Chachan, chairman of Chachan Group. “However, it will take some time for the business activities to return to normalcy as the market has been badly affected by six months of restrictions,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Production of more than 1000 industries in the corridor has been badly affected by the four-month lockdown and the subsequent prohibitory order.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12237', 'image' => '20200920113142_Clipboard41(13).jpg', 'article_date' => '2020-09-20 11:31:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12489', 'article_category_id' => '1', 'title' => 'World Bank Approves $200 Million to Strengthen Nepal’s Financial Sector ', 'sub_title' => '', 'summary' => 'September 20: The World Bank has approved a $200 million “Finance for Growth” development policy credit to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal’s COVID-19 resilience and recovery efforts.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 20: </span></span><span style="font-size:14.0pt"><span style="font-family:Times">The World Bank has approved a $200 million “Finance for Growth” development policy credit to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal’s COVID-19 resilience and recovery efforts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The World Bank said in a statement that the “Finance for Growth” operation will support enhanced supervision of risks confronting the banking and financial institutions, especially in the context of the pandemic’s impacts. The operation will also help build capital, insurance, venture capital and private equity and disaster risk financing markets through regulatory reforms. This will help open new investment opportunities for market actors and crowd-in private financing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“In this era of COVID-19, protecting people’s lives is the priority, but giving a boost to economic recovery is equally urgent,” the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka, as saying. “This project and World Bank support will pave the way for the financial sector and capital and insurance markets to strengthen resilience and more effectively contribute to Nepal’s COVID-19 recovery.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The other critical area of focus is to expand access to finance for households, women and firms through regulatory and other reforms that will attract additional inflow of international finance and mobilize digital services, credit infrastructure and literacy programs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“The project supports the government’s significant reform agenda to enable the financial sector to better respond to the new socio-economic challenges arising from the COVID-19 pandemic,” stated Peter Mousley, Project Task Team Leader of the World Bank, adding, “Initiatives to extend access to digital financial services and attract private financing to complement the government’s fiscal resources to address disasters are two innovations that will significantly benefit households and women in Nepal.” </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12236', 'image' => '20200920100437_WORLD-BANK-696x447.jpg', 'article_date' => '2020-09-20 10:03:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12488', 'article_category_id' => '1', 'title' => 'Customers of Digital Wallets to get Interest ', 'sub_title' => '', 'summary' => 'September 18: Online payment gateways are planning to provide interest on customers’ mobile wallet after Nepal Rastra Bank gave them the permission to do so.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">September 18: Online payment gateways are planning to provide interest on customers’ mobile wallet after Nepal Rastra Bank gave them the permission to do so.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The Payment and Settlement Regulations 2077 issued three months ago has a provision that allows the organizations willing to provide interest to their customers to do so by seeking permission from the central bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Mobile wallets aren’t generally used for the purpose of keeping deposits. The Payment System Department of the central bank informed that all of the payment service providers have shown their curiosity about the new provision.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">However, IME Pay has been providing interest to its customers that have the minimum balance in their accounts prior to the issuance of this regulation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">IME Pay had obtained permission for the operation of its business from the central bank three years ago under the name ‘IME Digital Solution Limited’. It had submitted an application to provide interest to its customers on the minimum balance in their wallet a year later. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Sudeep Sigdel, the compliance manager of IME Pay, said that after receiving the permission from the central bank and making the necessary technical arrangements, this facility is being provided to their customers since the last six months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, the interest rate on the minimum balance (Rs 1000) in the super-wallet was determined as the same rate provided in the general savings account of Global IME Bank. “In coordination with the bank, the interest will be provided on a quarterly basis to the customers. We have been providing interest from the beginning of the lockdown (March). This has been very profitable for our customers,” he told New Business Age.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He claims that this facility has encouraged the customers. According to him, IME Pay has a total of one million customers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Other online payment providers are also planning to implement this system after IME Pay. E-sewa has already started its internal work for it. Roshan Lamichhane, the CEO of E-sewa said that they will apply for the permission from the central bank only after completing internal preparation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> “Since the money in the wallet and the responsibility of the interest will be given to a bank, there are still some discussions to be done. It is necessary to reach to an agreement with Nabil Bank, which is the bank that we are coordinating with,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The maximum limit of money transfer and payment will be Rs 25,000 per transaction, Rs 100,000 per day and Rs 500,000 per month through an agent/ sub-agent to the wallet, bank account to the wallet, the wallet to another bank account or one wallet to another wallet. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There is no limit for transferring money from the wallet to the wallet carrier’s bank account.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There are 14 payment service providers in operation till now. They are Phone Pay, Cellcom, CG Pay, Sparrow Pay (Khalti), Pay Nep, Q Pay, Nepal Paytime, Smart Card Nepal, Mohar Digital, Prabhu Technologies, E-Net Payment, Focusone Payment Solution Pvt. Ltd. And Kurakani Pvt. Ltd.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Four more such companies are in the process of coming into operation. The central bank has already given the Letter of Intent to Nepal Digital Payment Company, Buddha Light International Pvt. Ltd., ICash Pvt. Ltd. And Chhito Paisa Pvt. Ltd. for conducting electronic transactions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There will now be 18 payment service providers in the market soon.</span></span></p> ', 'published' => true, 'created' => '2020-09-18', 'modified' => '2020-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '12235', 'image' => '20200918073634_digita.jpg', 'article_date' => '2020-09-18 19:35:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12487', 'article_category_id' => '1', 'title' => 'Work Procedure to Avail Concessional Loan Ready', 'sub_title' => '', 'summary' => 'September 18: The government has prepared the work procedure to avail loan at 5 percent interest to the industries affected by coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 18: The government has prepared the work procedure to avail loan at 5 percent interest to the industries affected by 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:"Arial Unicode MS"">Finance ministry will submit the work procedure to the next cabinet meeting for the mobilization of a relief fund of Rs 50 billion from which the concessional loan will be provided. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank had prepared the work procedure and submitted it to the finance ministry. The ministry will be presenting it to the Council of Ministers, informed officials.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Joint secretary at the finance ministry Jhak Prasad Acharya informed that they have completed all preparations to present the work procedure during the next cabinet meeting.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to NRB Spokesperson Dr Gunakar Bhatta, the work procedure has been prepared in line with the announcement made in the annual budget and the monetary policy for the current fiscal year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-18', 'modified' => '2020-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '12234', 'image' => '20200918011828_rises 2.jpg', 'article_date' => '2020-09-18 13:17:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12501', 'article_category_id' => '1', 'title' => '12 Companies get Permission to use Trademark for Nepalese Orthodox Tea', 'sub_title' => '', 'summary' => 'September 22: Tea producers of Nepal will be able to use the trademark for their products in the international market for the first time in two years after the government introduced trademark certification for the Nepalese orthodox tea.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 22: Tea producers of Nepal will be able to use the trademark for their products in the international market for the first time in two years after the government introduced trademark certification for the Nepalese orthodox tea.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Out of 42 companies that had filed application to use the trademark with the tagline ‘Nepal Tea Quality from the Himalayas’, 12 have been granted permission to use the trademark logo.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister for Agriculture and Livestock Development Ghanshyam Bhusan was scheduled to distribute certificates to the companies amid a programme in Fikal of Ilam district on Tuesday (September 22). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Regional chief of the National Tea and Coffee Development Board Indra Prasad Adhikari informed that these 12 companies will now be able to export Nepali orthodox tea with the trademark logo. The trademark was made public by the government two years ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Advisor to the Nepal Tea Planters Association Udaya Chapagain believes that the use of trademark logo will enhance the reputation of Nepalese tea 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:"Arial Unicode MS"">Tea was introduced in Nepal some 157 years ago, when Colonel Gajraj Singh Thapa – the son-in-law of Junga Bahadur Rana – brought saplings of tea from China and started commercial farming in Nepal, informed Chapagain.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The tea producers have to file an application with the board by fulfilling all the criteria in order to use the trademark.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had introduced Nepal Orthodox Tea Certification Trademark Implementation Regulation 2074 some two and a half years ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">There are around 100 small and medium sized tea industries in Nepal and they have to produce tea by following the standard set by the board in order to acquire the trademark certification.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/20181213020242_tea%20farm.jpg" style="height:533px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12248', 'image' => '20200922031750_20190507024542_aaa.jpg', 'article_date' => '2020-09-22 15:15:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12500', 'article_category_id' => '1', 'title' => 'IFC Report urges Companies to Boost Women’s Participation in Hydropower Sector', 'sub_title' => '', 'summary' => 'September 22: Companies and women in Nepal would stand to benefit if greater action was taken to improve women’s participation and contribution to the hydropower sector, reveals a new study conducted by the IFC.', 'content' => '<p><span style="font-size:14px"><em><span style="font-family:Cambria"><span style="font-family:Arial">This photo taken from Twitter shows Wendy Werner, IFC country manager for Nepal, Bangladesh and Bhutan.</span></span></em></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Companies and women in Nepal would stand to benefit if greater action was taken to improve women’s participation and contribution to the hydropower sector, reveals a new study conducted by the IFC.</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">IFC, a member of the World Bank Group, calls for companies to adopt gender sensitive policies and practices to attract more women into working in the hydropower. </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">“Women make up more than half of Nepal’s population, yet the study reveals only 10 percent of all employees in the country’s hydropower sector are women,” said Wendy Werner, IFC country manager for Nepal, Bangladesh and Bhutan. “Companies need to seize the opportunity to embark on more gender-sensitive and family-friendly policies to help boost staff productivity and attract and retain talent which will ultimately boost their businesses.” </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 study of 20 companies is part of the Powered by Women initiative—a time-bound commitment by companies to build the business case for improved gender equality and diversity in renewable energy companies in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“We recognize the need to make conscious efforts to increase the number of women in power sector. Our organization has already taken a forward step by making women participation in the executive committee mandatory,” said Ashish Garg, vice president of the Independent Power Producers’ Association of Nepal (IPPAN). “By partnering with IFC in this important initiative we are committing to championing this cause.”</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 report recommends that companies need to develop and enforce gender-sensitive policies, including mechanisms to address cases of bullying, sexual harassment, abuse and exploitation. </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">More tailored programs to support professional development opportunities for women, such as more robust recruiting efforts directed at women’s advancement into leadership positions and targets for diversity in board representation, are also encouraged. Meanwhile, at the community level, the report urges increased support from companies to women-led businesses, including improving their access to finance, and efforts to train women in non-traditional roles within the sector. </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 study – spearheaded by IFC’s Hydro Environmental and Social Advisory team in partnership with the governments of Australia, Norway and Japan –shows very few of those employed are in leadership positions, included in corporate boards or occupy non-traditional roles in the hydropower sector. </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">“Despite the considerable scope for women to take up non-traditional roles in the hydropower sector, we found that most companies in Nepal have not yet initiated adequate efforts to realize this,” said Kate Lazarus, team leader of Asia Environment and Social Governance for IFC. “While some companies, particularly those led by women entrepreneurs, do show willingness in this regard, there are still challenges in transforming that intent into action on the ground.”</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">Gender stereotyping, remoteness of hydropower project sites and a lack of women in science, technology, engineering, and math education have been identified as key constraints for women’s participation in this sector. Concerns around initial investment costs and uncertainty over whether there will be a pay off in the short- to medium-term were also inhibiting factors, according to the study.</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">Nepal ranks 105 out of 149 countries on the Global Gender Gap Index 2018 conducted by the World Economic Forum, indicating that there is still a critical need to focus on gender equality across various spheres.</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 study was conducted between 2019 and 2020. Over two dozen executives and almost 250 employees working in 20 companies within Nepal’s hydropower industry contributed to the research. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12247', 'image' => '20200922012047_HX9N.jpg', 'article_date' => '2020-09-22 13:19:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12499', 'article_category_id' => '1', 'title' => 'Remittance Service goes Digital in Nepal', 'sub_title' => '', 'summary' => 'September 22: Nepali migrant workers can send home money from foreign countries through digital medium from now onwards.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 22: Nepali migrant workers can send home money from foreign countries through digital medium from now onwards.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has made arrangement for the migrant workers to send remittance through mobile and internet banking as well as electronic cards, digital wallets and other electronic 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:Arial">The Foreign Exchange Management Department of the Nepal Rastra Bank issued a notice on Monday (September 21) informing about the new arrangement which has effectively ended the compulsion for people to rely upon remittance agents or visit banks to receive remittance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">In order to benefit from this service, the migrant workers need to activate digital service like mobile and internet banking from their respective banks in Nepal as well as Nepali payment gateways that provide digital wallet service.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">With this new system, money transferred from abroad will be available in Nepal instantly and the details of the transaction will also be available, says NRB.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Executive Director of the central bank’s Foreign Exchange Management Department Bam Bahadur Mishra claimed that this new system will address the problem of entering wrong account number and also get rid of the hassles of showing one’s citizenship certificate to receive the amount.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the central bank introduced this system ahead of Dashain considering the fact that the remittance inflow to Nepal increases significantly during the festive season.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“This arrangement will allow migrant workers to send money using their smart phones and other digital technology. But the users must activate digital service first,” says Mishra.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The mobile and internet banking services provided by banks can be used to avail this facility. The migrant workers can also use eSewa, IME Pay, Fone Pay, Khalti among 14 payment gateways to send money from abroad, according to NRB.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, for the service to work seamlessly, the banks and remittance service providers have to collaborate with the electronic payment gateways of the respective countries.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12246', 'image' => '20200922112956_20200422112714_remit.jpg', 'article_date' => '2020-09-22 11:28:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12498', 'article_category_id' => '1', 'title' => 'Fertilizers from Bangladesh to Arrive after More than a Month', 'sub_title' => 'Agriculture Inputs Company Limited Calls Tender for Bringing the Fertilizers', 'summary' => 'September 21: The Agriculture Inputs Company Limited (Krishi Samagri Company Limited) has called tender to bring 50,000 tons of urea from Bangladesh.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 21: The Agriculture Inputs Company Limited (Krishi Samagri Company Limited) has called tender to bring 50,000 tons of urea from Bangladesh. The government had handed the responsibility of bringing the fertilizers from Bangladesh on loan to the Agriculture Inputs Company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had asked for assistance from Bangladesh to supply urea after the farmers faced acute shortage of the chemical fertilizer during the planting season this year. The KP Oli-led government had reached an understanding with Bangladesh three weeks ago to receive the fertilizer on condition that it will return the same amount of fertilizer to Bangladesh after eight months.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A cabinet meeting last Thursday handed over the responsibility of bringing the fertilizer to the Agriculture Inputs Company, following which the company called for tender bids.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Chief of the purchase division of Agriculture Inputs Company, Bishnu Pokharel, informed that they are planning to bring the fertilizer from Chittagong of Bangladesh. For this, the company has issued tender with a deadline of seven days. The state-owned company informed that it will take around 25 days to finalize the deal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is estimated that it will take at least a month for the fertilizers to reach Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Ministry of Agriculture and Livestock Development, Bangladesh has a stock of 1 million tons of urea from which it will lend 50,000 tons to Nepal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12245', 'image' => '20200921054244_20200907122502_597613093.Clipboard02.jpg', 'article_date' => '2020-09-21 17:42:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12496', 'article_category_id' => '1', 'title' => '50 Containers of Dates Stopped in Birgunj Start Rotting', 'sub_title' => '', 'summary' => 'September 21: Although the government has decided to give customs clearance to peas, pepper and betel nuts stopped at various transit points of the country due to import restrictions, it has still not decided anything about importing dates held at the customs points.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 21: Although the government has decided to give customs clearance to peas, pepper and betel nuts stopped at various transit points of the country due to import restrictions, it has still not decided anything about importing dates held at the customs points.</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">About 50 containers of dates have been stranded at the Birgunj Dry Port as the government has not decided what to do with them. It has been reported that the dates have started rotting because they have been held at the customs points for a long time. The government on April 29 had banned the import of dates, pepper, peas and betel nuts, citing increasing pressure on foreign exchange reserves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Prior to giving the green signal to import the peas, pepper and betel nuts, 1,000 containers of these goods were stopped at various entry points because they were imported without the prior approval of the Department of Food Technology and Quality Control.</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">A cabinet meeting held on August 29 had decided to allow the entry of peas and pepper for once. Earlier, the cabinet had also decided to release the betel nuts stopped at the checkpoints.</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, importer Navneet Agrawal informed that even though peas, pepper and betel nuts were approved for clearance, only dates have been stopped at the ports for more than five months. </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">Agrawal has accused the government of discrimination for allowing the import of peas, pepper and betel nuts while restricting the dates. </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 restricted the import of all of them at the same time but has removed the restriction on only peas, pepper and betel nuts,” he informed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12244', 'image' => '20200921015539_1600646914.78.jpg', 'article_date' => '2020-09-21 13:55:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12494', 'article_category_id' => '1', 'title' => 'Domestic Flights Resume from Today', 'sub_title' => '', 'summary' => 'September 21: Domestic flights have resumed in Nepal on Monday after almost six months of ban, which was imposed to curb the spread of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 21: Domestic flights have resumed in Nepal on Monday after almost six months of ban, which was imposed to curb 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:Arial">The government has allowed private companies to operate only 25 percent of flights compared to normal days.</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">Airline companies such as Buddha Air and Yeti Airlines offered pre booking service since last Friday. More than 70 percent seats of all airline companies have been booked, the airline operators informed on Sunday. </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">Shree Airlines will be opening bookings only after a few days, informed the company’s manager Anil Manandhar.</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">Buddha Air confirmed 70 percent bookings as of Sunday evening (September 20). Buddha Air’s manager Rupesh Shrestha informed New Business Age that they have received permission to operate 17 flights on Monday (September 21).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, Yeti Airlines’ spokesperson Sudarshan Bartaula said that the company will be operating 11 flights a day.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Nepal Airlines Corporation, the state-owned company of Nepal, has also unveiled its flights schedule. As per the schedule, the flag carrier of Nepal will conduct 10 flights a day to various destinations.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Civil Aviation Authority of Nepal (CAAN) informed that the airline companies have been allowed to resume flights by following health safety standards set by the government and the international protocols of the ICAO.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">People with symptoms of coronavirus will be barred from flights. The airports have been instructed to check the body temperatures of the passengers twice and to follow contactless check-in, maintain physical distance and use hand sanitizers for the passengers. The passengers have also been instructed to compulsorily wear masks and visors. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The airline companies have been permitted to carry passengers in full capacity and so the airfare has not increased. Although the government had lifted a ban on domestic flights from September 17, the airline operators had suspended flights demanding operating flights in full capacity.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government had earlier decided to allow private airliners to resume flights with 50 percent passengers. But the government later backtracked from its decision and agreed to the demand of the airline operators.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12243', 'image' => '20200921111110_1600647868.ghj.jpg', 'article_date' => '2020-09-21 11:10:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12497', 'article_category_id' => '1', 'title' => 'OPPO to Launch F17 Pro in Nepal Soon', 'sub_title' => '', 'summary' => 'September 21: Chinese smartphone brand OPPO announced that it will be launching its latest flagship smartphone, OPPO F17 Pro, in Nepal soon. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">September 21: Chinese smartphone brand OPPO announced that it will be launching its latest flagship smartphone, OPPO F17 Pro, in Nepal soon. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company has started promotional activities ahead of the launch of the latest device in the F series of smartphones via its social media platforms. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">OPPO's brand ambassador, actress Swastima Khadka, along with stars from the Nepali Film Industry such as Anoop Bikram Shahi, Alisha Rai, and photographer/filmmaker Sanjog Rai were also seen indulging in promotion of the upcoming phone through their respective social media handles. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The F series smartphones were one of the most popular from OPPO and was first launched by the company in 2016 in Nepal, reads a statement issued by the company. And now, the company is all set to add to the series by launching the OPPO F17 Pro, which it claims will help to further elevate the series with its ultra sleek fashionable design and innovative technologies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company further claims that the OPPO F17 Pro is expected to redefine the standards of lightweight and design, making it the most fashionable F series smartphone by OPPO.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company hasn’t given a specific launch timeline for the OPPO F17 Pro phone in Nepal. However, from the language that the company is using in its teaser for the phone, it appears the launch of the phone could just be around the corner.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">As, of now the specs of the F17 Pro hasn't yet been officially announced, even though the expectation is that the phone will maintain the certain design elements while improving at the same time on core specs to ensure that the phone can truly emerge as an upgrade on the F15 series. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12242', 'image' => '20200921040115_Screenshot_20200921_155728.jpg', 'article_date' => '2020-09-21 16:00:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12495', 'article_category_id' => '1', 'title' => 'Bajaj’s Announces Festive Offer', 'sub_title' => '', 'summary' => 'September 21: Hansraj Hulaschand & Co Pvt Ltd, the sole authorized distributor of Bajaj motorcycles in Nepal, has launched “Rojerai Khusi” scheme for the upcoming Dahsain and Tihar festival.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">September 21: Hansraj Hulaschand & Co Pvt Ltd, the sole authorized distributor of Bajaj motorcycles in Nepal, has launched “Rojerai Khusi” scheme for the upcoming Dahsain and Tihar festival.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">Bajaj said in a statement that the company has always come up with exciting schemes and offers for the customers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">“Even in the time of COVID-19 pandemic, Bajaj is trying to scatter happiness among the customers by providing offers as per their need. On this auspicious occasion of Dashain and Tihar festival, Bajaj provides an opportunity for customers to enjoy the benefits of three different schemes and happily celebrate the festivals ensuring their safety,” reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">Under this new scheme, customers can purchase any brand new Bajaj motorcycle by choosing one among the three available offers – either cash discount of Rs 10,000 or zero percent interest on a 50 percent down payment or financing on a 20 percent down payment. This offer is available in all showrooms across the country, the statement added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">After the announcement, Shekhar Golchha, managing director of Hansraj Hulaschand & Co Pvt Ltd, shared, “Bajaj is always driven towards providing our customers with exciting and beneficial offers as per the need of time. We are glad to be the reason for customer’s happiness and Rojerai Khusi is perfect to be part of their celebration in this festival season. We hope our customers will be delighted with this offer.” </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12241', 'image' => '20200921122714_Mnemonic 2.jpg', 'article_date' => '2020-09-21 12:26:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12493', 'article_category_id' => '1', 'title' => 'FNCCI Election to be Held in Late November ', 'sub_title' => '', 'summary' => 'September 20: The election for a new executive committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has been scheduled for late November.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 20: The election for a new executive committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has been scheduled for late November. The election has been delayed time and again due to 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:"Arial Unicode MS"">A meeting of the office bearers of FNCCI on Friday decided to hold the 45<sup>th</sup> General Assembly and election of FNCCI on November 26-27. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The date fixed for the election is yet to be approved by the executive committee of FNCCI. The umbrella body of entrepreneurs and industrialists of Nepal has called its executive committee meeting in late September to discuss about the General Assembly and the election. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The meeting will endorse the date of election, informed FNCCI Vice President Chandra Dhakal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We will initiate the process to seek permission from the government to hold the General Assembly before the executive committee meeting. The executive committee will decide on the modality of election,” Dhakal 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:"Arial Unicode MS"">“The executive committee meeting is scheduled for September 27-28,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, two factions of FNCCI were divided over the date of election. But all sides have agreed to the new date of election, informed Kishor Pradhan, district vice president of FNCCI.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It has been learnt that the FNCCI is preparing to hold its General Assembly through Zoom meeting while the election will be held in Kathmandu by following the health protocols set by the government.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12240', 'image' => '20200920053207_1600556458.Clipboard06.jpg', 'article_date' => '2020-09-20 17:31:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12492', 'article_category_id' => '1', 'title' => 'BFIs Instructed to Fix Stable Interest Rates on Personal Loans ', 'sub_title' => '', 'summary' => 'September 20: Nepal Rastra Bank (NRB) has directed all banks and financial institutions (BFIs) to fix their interest rates on all personal loans like home loans and auto loans before the end of Ashoj (October 16).', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">September 20: Nepal Rastra Bank (NRB) has directed all banks and financial institutions (BFIs) to fix their interest rates on all personal loans like home loans and auto loans before the end of Ashoj (October 16). The central bank had issued the Unified Directive 2077 more than two weeks ago , instructing all BFIs to fix a stable interest rates on personal loans, with more than one year to maturity.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">The central bank has given the deadline of October 16, after the bankers expressed the need for more time to conduct necessary studies and analyses before fixing and implementing the stable rate of interest.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Dev Kumar Dhakal, executive director of the Banking and Financial Institutions Regulation Department of NRB, said that the banks have been given some time to make necessary arrangements to fix their long-term interest rates and to manage the risks associated with it. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">“The loans taken at a rate of 8 percent have been increased to 15 percent. Many customers complained about the fact that the interest rates keep rising,” he told New Business Age, adding, “This is why the banks will have to determine a fixed interest rate along with the necessary plans for managing their risks.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Debtors had to constantly worry about the new rates as the banks usually increased their interest rates every 3 months. All the debtors complain about facing difficulties every time the interest rates increased. The policy for a fixed interest rate was introduced to put an end to this. Since this rate will have to be implemented for a long term, commercial banks, development banks and finance companies are busy studying and analyzing before determining their rates.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">The interest rates on deposits and loans have been decreasing as banks have a liquidity of around Rs 200 billion. Bankers said that they are trying to determine the appropriate long-term fixed interest rates for personal loans by studying and employing proper strategies. Banks have also been analyzing the changes in the interest rates on deposits and loans in the last 30 years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Bhuwan Kumar Dahal, chairman of Nepal Bankers’ Association, said that they were studying about how international banks have fixed their interest rates on personal loans. “All of the banks are studying each and every aspect of fixed interest rates in their own ways,” he said, “If necessary, the association will also conduct a study.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Saroj Kaji Tuladar, president of Nepal Financial Institutions Association, also said that finance companies have also been analyzing the rates of the last 30 years on loans and deposits to determine their fixed rates. He believes that this will allow them to understand how and when the rates changed in the long term, which will help them to determine their fixed interest rates. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">“It may be risky to fix the interest rates for a long term in a country with a volatile economy. That is why we had requested the central bank to determine the fixed interest rates for 1-2 years.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Banks and financial institutions will give the customers the choice to opt for the fixed interest rates on personal loans with more than one year to maturity. NRB has made a provision that will allow the customer to choose either a fixed interest rate or a floating rate that change with the changes in the base rate of the BFIs. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">According to NRB, the terms and conditions of the personal loans including home loans and auto loans will have to be updated as per the customer’s request, to maintain the fixed interest rate on the monthly/ quarterly/ periodic installments before the implementation of this directive.</span></span></span><br /> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12239', 'image' => '20200920041120_1600382287.bbbb.jpg', 'article_date' => '2020-09-20 16:10:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12491', 'article_category_id' => '1', 'title' => 'Much-Hyped Train Sent Back to India from Janakpur ', 'sub_title' => '', 'summary' => 'September 20: Train service takes at least a month and a half to come in regular operation. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 20: Train service takes at least a month and a half to come in regular operation. </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">September 20: The train that arrived in Janakpur on September 18 for trial has been returned back to India due to lack of necessary preparations for regular operation here in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Despite the government's announcement to operate the train as early as possible, the train has been sent back to India due to lack of preparation by the authorities of the Railways Department. The authorities are unable to complete the necessary preparation even after a year and a half since the project was initiated.</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">Meanwhile, Nepal Railway Company has informed that it will take them at least a month and a half to initiate regular operation of the train.</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">Although the train was tested along the 34-kilometer-long section of Janakpur-Jaynagar on Friday (September 20), the inability of the concerned authorities to have necessary manpower compelled the train to return back to India for security reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepal Railway Company has not recruited the necessary technical and administrative staff for the operation of the railway. Likewise, the process of bringing railway engineers from India has not been completed by the railway authority of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepal Railway Company Limited issued notice on September 13 to appoint 139 employees. The company has called for applications for contract services within 15 days. Government authorities estimate that they will need at least one and a half to two months to complete the recruitment process.</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">Guru Bhattarai, general manager of the company, informed that the decision about bringing the railway engineers from India will be taken in the coming week. </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 further informed that if the train is not operated for a long time, the parts may deteriorate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12238', 'image' => '20200920025413_1600555970.4.jpg', 'article_date' => '2020-09-20 14:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12490', 'article_category_id' => '1', 'title' => 'Industrialists Hopeful of Revival of Economic Activities during Festive Season', 'sub_title' => '', 'summary' => 'September 20: Industrialists of the Bara-Parsa Industrial Corridor have become hopeful of better production after the government eased the prohibitory order, allowing public transportation and opening markets.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 20: Industrialists of the Bara-Parsa Industrial Corridor have become hopeful of better production after the government eased the prohibitory order, allowing public transportation and opening markets.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the removal of restrictions, import through Birgunj customs point has also increased.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chief of the BIrgunj-based Integrated Check Post (ICP) Gopal Khatri confirmed that the import through Birgunj has increased.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The import has increased after the government lifted ban on transportation. Around 600 vehicles get customs clearance on a daily basis now,” said Khatri.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During normal days, around 700 cargo vehicles enter Nepal through this customs point, informed Khatri. However, during the lockdown period, around 15- to 450 vehicles used to enter Nepal per day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Import of goods for the festive season and new automobiles has increased,” added Khatri.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the festive season just around the corner and the government lifting restrictions, chairman of Birgunj Chamber of Commerce Gopal Kedia expects a major boost in economic activities.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The situation is better than before. But still the market can remain open for a limited period only. Customers haven’t shown up as expected. But we are hopeful that our business will pick up pace as the festive season is approaching,” says Kedia.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The district administration has allowed the market place in Birgunj to open from 11 am to 4 pm.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Industrial activities have obviously started increasing after the restrictions on transportation were lifted and the market started opening,” says Babulal Chachan, chairman of Chachan Group. “However, it will take some time for the business activities to return to normalcy as the market has been badly affected by six months of restrictions,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Production of more than 1000 industries in the corridor has been badly affected by the four-month lockdown and the subsequent prohibitory order.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12237', 'image' => '20200920113142_Clipboard41(13).jpg', 'article_date' => '2020-09-20 11:31:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12489', 'article_category_id' => '1', 'title' => 'World Bank Approves $200 Million to Strengthen Nepal’s Financial Sector ', 'sub_title' => '', 'summary' => 'September 20: The World Bank has approved a $200 million “Finance for Growth” development policy credit to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal’s COVID-19 resilience and recovery efforts.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 20: </span></span><span style="font-size:14.0pt"><span style="font-family:Times">The World Bank has approved a $200 million “Finance for Growth” development policy credit to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal’s COVID-19 resilience and recovery efforts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The World Bank said in a statement that the “Finance for Growth” operation will support enhanced supervision of risks confronting the banking and financial institutions, especially in the context of the pandemic’s impacts. The operation will also help build capital, insurance, venture capital and private equity and disaster risk financing markets through regulatory reforms. This will help open new investment opportunities for market actors and crowd-in private financing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“In this era of COVID-19, protecting people’s lives is the priority, but giving a boost to economic recovery is equally urgent,” the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka, as saying. “This project and World Bank support will pave the way for the financial sector and capital and insurance markets to strengthen resilience and more effectively contribute to Nepal’s COVID-19 recovery.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The other critical area of focus is to expand access to finance for households, women and firms through regulatory and other reforms that will attract additional inflow of international finance and mobilize digital services, credit infrastructure and literacy programs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“The project supports the government’s significant reform agenda to enable the financial sector to better respond to the new socio-economic challenges arising from the COVID-19 pandemic,” stated Peter Mousley, Project Task Team Leader of the World Bank, adding, “Initiatives to extend access to digital financial services and attract private financing to complement the government’s fiscal resources to address disasters are two innovations that will significantly benefit households and women in Nepal.” </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12236', 'image' => '20200920100437_WORLD-BANK-696x447.jpg', 'article_date' => '2020-09-20 10:03:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12488', 'article_category_id' => '1', 'title' => 'Customers of Digital Wallets to get Interest ', 'sub_title' => '', 'summary' => 'September 18: Online payment gateways are planning to provide interest on customers’ mobile wallet after Nepal Rastra Bank gave them the permission to do so.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">September 18: Online payment gateways are planning to provide interest on customers’ mobile wallet after Nepal Rastra Bank gave them the permission to do so.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The Payment and Settlement Regulations 2077 issued three months ago has a provision that allows the organizations willing to provide interest to their customers to do so by seeking permission from the central bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Mobile wallets aren’t generally used for the purpose of keeping deposits. The Payment System Department of the central bank informed that all of the payment service providers have shown their curiosity about the new provision.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">However, IME Pay has been providing interest to its customers that have the minimum balance in their accounts prior to the issuance of this regulation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">IME Pay had obtained permission for the operation of its business from the central bank three years ago under the name ‘IME Digital Solution Limited’. It had submitted an application to provide interest to its customers on the minimum balance in their wallet a year later. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Sudeep Sigdel, the compliance manager of IME Pay, said that after receiving the permission from the central bank and making the necessary technical arrangements, this facility is being provided to their customers since the last six months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, the interest rate on the minimum balance (Rs 1000) in the super-wallet was determined as the same rate provided in the general savings account of Global IME Bank. “In coordination with the bank, the interest will be provided on a quarterly basis to the customers. We have been providing interest from the beginning of the lockdown (March). This has been very profitable for our customers,” he told New Business Age.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He claims that this facility has encouraged the customers. According to him, IME Pay has a total of one million customers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Other online payment providers are also planning to implement this system after IME Pay. E-sewa has already started its internal work for it. Roshan Lamichhane, the CEO of E-sewa said that they will apply for the permission from the central bank only after completing internal preparation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> “Since the money in the wallet and the responsibility of the interest will be given to a bank, there are still some discussions to be done. It is necessary to reach to an agreement with Nabil Bank, which is the bank that we are coordinating with,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The maximum limit of money transfer and payment will be Rs 25,000 per transaction, Rs 100,000 per day and Rs 500,000 per month through an agent/ sub-agent to the wallet, bank account to the wallet, the wallet to another bank account or one wallet to another wallet. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There is no limit for transferring money from the wallet to the wallet carrier’s bank account.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There are 14 payment service providers in operation till now. They are Phone Pay, Cellcom, CG Pay, Sparrow Pay (Khalti), Pay Nep, Q Pay, Nepal Paytime, Smart Card Nepal, Mohar Digital, Prabhu Technologies, E-Net Payment, Focusone Payment Solution Pvt. Ltd. And Kurakani Pvt. Ltd.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Four more such companies are in the process of coming into operation. The central bank has already given the Letter of Intent to Nepal Digital Payment Company, Buddha Light International Pvt. Ltd., ICash Pvt. Ltd. And Chhito Paisa Pvt. Ltd. for conducting electronic transactions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There will now be 18 payment service providers in the market soon.</span></span></p> ', 'published' => true, 'created' => '2020-09-18', 'modified' => '2020-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '12235', 'image' => '20200918073634_digita.jpg', 'article_date' => '2020-09-18 19:35:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12487', 'article_category_id' => '1', 'title' => 'Work Procedure to Avail Concessional Loan Ready', 'sub_title' => '', 'summary' => 'September 18: The government has prepared the work procedure to avail loan at 5 percent interest to the industries affected by coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 18: The government has prepared the work procedure to avail loan at 5 percent interest to the industries affected by 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:"Arial Unicode MS"">Finance ministry will submit the work procedure to the next cabinet meeting for the mobilization of a relief fund of Rs 50 billion from which the concessional loan will be provided. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank had prepared the work procedure and submitted it to the finance ministry. The ministry will be presenting it to the Council of Ministers, informed officials.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Joint secretary at the finance ministry Jhak Prasad Acharya informed that they have completed all preparations to present the work procedure during the next cabinet meeting.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to NRB Spokesperson Dr Gunakar Bhatta, the work procedure has been prepared in line with the announcement made in the annual budget and the monetary policy for the current fiscal year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-18', 'modified' => '2020-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '12234', 'image' => '20200918011828_rises 2.jpg', 'article_date' => '2020-09-18 13:17:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The trademark was made public by the government two years ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Advisor to the Nepal Tea Planters Association Udaya Chapagain believes that the use of trademark logo will enhance the reputation of Nepalese tea 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:"Arial Unicode MS"">Tea was introduced in Nepal some 157 years ago, when Colonel Gajraj Singh Thapa – the son-in-law of Junga Bahadur Rana – brought saplings of tea from China and started commercial farming in Nepal, informed Chapagain.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The tea producers have to file an application with the board by fulfilling all the criteria in order to use the trademark.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had introduced Nepal Orthodox Tea Certification Trademark Implementation Regulation 2074 some two and a half years ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">There are around 100 small and medium sized tea industries in Nepal and they have to produce tea by following the standard set by the board in order to acquire the trademark certification.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/20181213020242_tea%20farm.jpg" style="height:533px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12248', 'image' => '20200922031750_20190507024542_aaa.jpg', 'article_date' => '2020-09-22 15:15:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12500', 'article_category_id' => '1', 'title' => 'IFC Report urges Companies to Boost Women’s Participation in Hydropower Sector', 'sub_title' => '', 'summary' => 'September 22: Companies and women in Nepal would stand to benefit if greater action was taken to improve women’s participation and contribution to the hydropower sector, reveals a new study conducted by the IFC.', 'content' => '<p><span style="font-size:14px"><em><span style="font-family:Cambria"><span style="font-family:Arial">This photo taken from Twitter shows Wendy Werner, IFC country manager for Nepal, Bangladesh and Bhutan.</span></span></em></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 22: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Companies and women in Nepal would stand to benefit if greater action was taken to improve women’s participation and contribution to the hydropower sector, reveals a new study conducted by the IFC.</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">IFC, a member of the World Bank Group, calls for companies to adopt gender sensitive policies and practices to attract more women into working in the hydropower. </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">“Women make up more than half of Nepal’s population, yet the study reveals only 10 percent of all employees in the country’s hydropower sector are women,” said Wendy Werner, IFC country manager for Nepal, Bangladesh and Bhutan. “Companies need to seize the opportunity to embark on more gender-sensitive and family-friendly policies to help boost staff productivity and attract and retain talent which will ultimately boost their businesses.” </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 study of 20 companies is part of the Powered by Women initiative—a time-bound commitment by companies to build the business case for improved gender equality and diversity in renewable energy companies in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“We recognize the need to make conscious efforts to increase the number of women in power sector. Our organization has already taken a forward step by making women participation in the executive committee mandatory,” said Ashish Garg, vice president of the Independent Power Producers’ Association of Nepal (IPPAN). “By partnering with IFC in this important initiative we are committing to championing this cause.”</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 report recommends that companies need to develop and enforce gender-sensitive policies, including mechanisms to address cases of bullying, sexual harassment, abuse and exploitation. </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">More tailored programs to support professional development opportunities for women, such as more robust recruiting efforts directed at women’s advancement into leadership positions and targets for diversity in board representation, are also encouraged. Meanwhile, at the community level, the report urges increased support from companies to women-led businesses, including improving their access to finance, and efforts to train women in non-traditional roles within the sector. </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 study – spearheaded by IFC’s Hydro Environmental and Social Advisory team in partnership with the governments of Australia, Norway and Japan –shows very few of those employed are in leadership positions, included in corporate boards or occupy non-traditional roles in the hydropower sector. </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">“Despite the considerable scope for women to take up non-traditional roles in the hydropower sector, we found that most companies in Nepal have not yet initiated adequate efforts to realize this,” said Kate Lazarus, team leader of Asia Environment and Social Governance for IFC. “While some companies, particularly those led by women entrepreneurs, do show willingness in this regard, there are still challenges in transforming that intent into action on the ground.”</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">Gender stereotyping, remoteness of hydropower project sites and a lack of women in science, technology, engineering, and math education have been identified as key constraints for women’s participation in this sector. Concerns around initial investment costs and uncertainty over whether there will be a pay off in the short- to medium-term were also inhibiting factors, according to the study.</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">Nepal ranks 105 out of 149 countries on the Global Gender Gap Index 2018 conducted by the World Economic Forum, indicating that there is still a critical need to focus on gender equality across various spheres.</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 study was conducted between 2019 and 2020. Over two dozen executives and almost 250 employees working in 20 companies within Nepal’s hydropower industry contributed to the research. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12247', 'image' => '20200922012047_HX9N.jpg', 'article_date' => '2020-09-22 13:19:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12499', 'article_category_id' => '1', 'title' => 'Remittance Service goes Digital in Nepal', 'sub_title' => '', 'summary' => 'September 22: Nepali migrant workers can send home money from foreign countries through digital medium from now onwards.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 22: Nepali migrant workers can send home money from foreign countries through digital medium from now onwards.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has made arrangement for the migrant workers to send remittance through mobile and internet banking as well as electronic cards, digital wallets and other electronic 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:Arial">The Foreign Exchange Management Department of the Nepal Rastra Bank issued a notice on Monday (September 21) informing about the new arrangement which has effectively ended the compulsion for people to rely upon remittance agents or visit banks to receive remittance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">In order to benefit from this service, the migrant workers need to activate digital service like mobile and internet banking from their respective banks in Nepal as well as Nepali payment gateways that provide digital wallet service.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">With this new system, money transferred from abroad will be available in Nepal instantly and the details of the transaction will also be available, says NRB.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Executive Director of the central bank’s Foreign Exchange Management Department Bam Bahadur Mishra claimed that this new system will address the problem of entering wrong account number and also get rid of the hassles of showing one’s citizenship certificate to receive the amount.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the central bank introduced this system ahead of Dashain considering the fact that the remittance inflow to Nepal increases significantly during the festive season.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“This arrangement will allow migrant workers to send money using their smart phones and other digital technology. But the users must activate digital service first,” says Mishra.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The mobile and internet banking services provided by banks can be used to avail this facility. The migrant workers can also use eSewa, IME Pay, Fone Pay, Khalti among 14 payment gateways to send money from abroad, according to NRB.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, for the service to work seamlessly, the banks and remittance service providers have to collaborate with the electronic payment gateways of the respective countries.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-22', 'modified' => '2020-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '12246', 'image' => '20200922112956_20200422112714_remit.jpg', 'article_date' => '2020-09-22 11:28:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12498', 'article_category_id' => '1', 'title' => 'Fertilizers from Bangladesh to Arrive after More than a Month', 'sub_title' => 'Agriculture Inputs Company Limited Calls Tender for Bringing the Fertilizers', 'summary' => 'September 21: The Agriculture Inputs Company Limited (Krishi Samagri Company Limited) has called tender to bring 50,000 tons of urea from Bangladesh.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 21: The Agriculture Inputs Company Limited (Krishi Samagri Company Limited) has called tender to bring 50,000 tons of urea from Bangladesh. The government had handed the responsibility of bringing the fertilizers from Bangladesh on loan to the Agriculture Inputs Company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had asked for assistance from Bangladesh to supply urea after the farmers faced acute shortage of the chemical fertilizer during the planting season this year. The KP Oli-led government had reached an understanding with Bangladesh three weeks ago to receive the fertilizer on condition that it will return the same amount of fertilizer to Bangladesh after eight months.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A cabinet meeting last Thursday handed over the responsibility of bringing the fertilizer to the Agriculture Inputs Company, following which the company called for tender bids.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Chief of the purchase division of Agriculture Inputs Company, Bishnu Pokharel, informed that they are planning to bring the fertilizer from Chittagong of Bangladesh. For this, the company has issued tender with a deadline of seven days. The state-owned company informed that it will take around 25 days to finalize the deal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is estimated that it will take at least a month for the fertilizers to reach Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Ministry of Agriculture and Livestock Development, Bangladesh has a stock of 1 million tons of urea from which it will lend 50,000 tons to Nepal.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12245', 'image' => '20200921054244_20200907122502_597613093.Clipboard02.jpg', 'article_date' => '2020-09-21 17:42:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12496', 'article_category_id' => '1', 'title' => '50 Containers of Dates Stopped in Birgunj Start Rotting', 'sub_title' => '', 'summary' => 'September 21: Although the government has decided to give customs clearance to peas, pepper and betel nuts stopped at various transit points of the country due to import restrictions, it has still not decided anything about importing dates held at the customs points.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 21: Although the government has decided to give customs clearance to peas, pepper and betel nuts stopped at various transit points of the country due to import restrictions, it has still not decided anything about importing dates held at the customs points.</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">About 50 containers of dates have been stranded at the Birgunj Dry Port as the government has not decided what to do with them. It has been reported that the dates have started rotting because they have been held at the customs points for a long time. The government on April 29 had banned the import of dates, pepper, peas and betel nuts, citing increasing pressure on foreign exchange reserves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Prior to giving the green signal to import the peas, pepper and betel nuts, 1,000 containers of these goods were stopped at various entry points because they were imported without the prior approval of the Department of Food Technology and Quality Control.</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">A cabinet meeting held on August 29 had decided to allow the entry of peas and pepper for once. Earlier, the cabinet had also decided to release the betel nuts stopped at the checkpoints.</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, importer Navneet Agrawal informed that even though peas, pepper and betel nuts were approved for clearance, only dates have been stopped at the ports for more than five months. </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">Agrawal has accused the government of discrimination for allowing the import of peas, pepper and betel nuts while restricting the dates. </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 restricted the import of all of them at the same time but has removed the restriction on only peas, pepper and betel nuts,” he informed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12244', 'image' => '20200921015539_1600646914.78.jpg', 'article_date' => '2020-09-21 13:55:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12494', 'article_category_id' => '1', 'title' => 'Domestic Flights Resume from Today', 'sub_title' => '', 'summary' => 'September 21: Domestic flights have resumed in Nepal on Monday after almost six months of ban, which was imposed to curb the spread of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 21: Domestic flights have resumed in Nepal on Monday after almost six months of ban, which was imposed to curb 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:Arial">The government has allowed private companies to operate only 25 percent of flights compared to normal days.</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">Airline companies such as Buddha Air and Yeti Airlines offered pre booking service since last Friday. More than 70 percent seats of all airline companies have been booked, the airline operators informed on Sunday. </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">Shree Airlines will be opening bookings only after a few days, informed the company’s manager Anil Manandhar.</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">Buddha Air confirmed 70 percent bookings as of Sunday evening (September 20). Buddha Air’s manager Rupesh Shrestha informed New Business Age that they have received permission to operate 17 flights on Monday (September 21).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, Yeti Airlines’ spokesperson Sudarshan Bartaula said that the company will be operating 11 flights a day.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Nepal Airlines Corporation, the state-owned company of Nepal, has also unveiled its flights schedule. As per the schedule, the flag carrier of Nepal will conduct 10 flights a day to various destinations.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Civil Aviation Authority of Nepal (CAAN) informed that the airline companies have been allowed to resume flights by following health safety standards set by the government and the international protocols of the ICAO.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">People with symptoms of coronavirus will be barred from flights. The airports have been instructed to check the body temperatures of the passengers twice and to follow contactless check-in, maintain physical distance and use hand sanitizers for the passengers. The passengers have also been instructed to compulsorily wear masks and visors. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The airline companies have been permitted to carry passengers in full capacity and so the airfare has not increased. Although the government had lifted a ban on domestic flights from September 17, the airline operators had suspended flights demanding operating flights in full capacity.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government had earlier decided to allow private airliners to resume flights with 50 percent passengers. But the government later backtracked from its decision and agreed to the demand of the airline operators.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12243', 'image' => '20200921111110_1600647868.ghj.jpg', 'article_date' => '2020-09-21 11:10:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12497', 'article_category_id' => '1', 'title' => 'OPPO to Launch F17 Pro in Nepal Soon', 'sub_title' => '', 'summary' => 'September 21: Chinese smartphone brand OPPO announced that it will be launching its latest flagship smartphone, OPPO F17 Pro, in Nepal soon. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">September 21: Chinese smartphone brand OPPO announced that it will be launching its latest flagship smartphone, OPPO F17 Pro, in Nepal soon. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company has started promotional activities ahead of the launch of the latest device in the F series of smartphones via its social media platforms. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">OPPO's brand ambassador, actress Swastima Khadka, along with stars from the Nepali Film Industry such as Anoop Bikram Shahi, Alisha Rai, and photographer/filmmaker Sanjog Rai were also seen indulging in promotion of the upcoming phone through their respective social media handles. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The F series smartphones were one of the most popular from OPPO and was first launched by the company in 2016 in Nepal, reads a statement issued by the company. And now, the company is all set to add to the series by launching the OPPO F17 Pro, which it claims will help to further elevate the series with its ultra sleek fashionable design and innovative technologies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company further claims that the OPPO F17 Pro is expected to redefine the standards of lightweight and design, making it the most fashionable F series smartphone by OPPO.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">The company hasn’t given a specific launch timeline for the OPPO F17 Pro phone in Nepal. However, from the language that the company is using in its teaser for the phone, it appears the launch of the phone could just be around the corner.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:"OPPO Sans Medium"">As, of now the specs of the F17 Pro hasn't yet been officially announced, even though the expectation is that the phone will maintain the certain design elements while improving at the same time on core specs to ensure that the phone can truly emerge as an upgrade on the F15 series. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12242', 'image' => '20200921040115_Screenshot_20200921_155728.jpg', 'article_date' => '2020-09-21 16:00:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12495', 'article_category_id' => '1', 'title' => 'Bajaj’s Announces Festive Offer', 'sub_title' => '', 'summary' => 'September 21: Hansraj Hulaschand & Co Pvt Ltd, the sole authorized distributor of Bajaj motorcycles in Nepal, has launched “Rojerai Khusi” scheme for the upcoming Dahsain and Tihar festival.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">September 21: Hansraj Hulaschand & Co Pvt Ltd, the sole authorized distributor of Bajaj motorcycles in Nepal, has launched “Rojerai Khusi” scheme for the upcoming Dahsain and Tihar festival.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">Bajaj said in a statement that the company has always come up with exciting schemes and offers for the customers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">“Even in the time of COVID-19 pandemic, Bajaj is trying to scatter happiness among the customers by providing offers as per their need. On this auspicious occasion of Dashain and Tihar festival, Bajaj provides an opportunity for customers to enjoy the benefits of three different schemes and happily celebrate the festivals ensuring their safety,” reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">Under this new scheme, customers can purchase any brand new Bajaj motorcycle by choosing one among the three available offers – either cash discount of Rs 10,000 or zero percent interest on a 50 percent down payment or financing on a 20 percent down payment. This offer is available in all showrooms across the country, the statement added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt">After the announcement, Shekhar Golchha, managing director of Hansraj Hulaschand & Co Pvt Ltd, shared, “Bajaj is always driven towards providing our customers with exciting and beneficial offers as per the need of time. We are glad to be the reason for customer’s happiness and Rojerai Khusi is perfect to be part of their celebration in this festival season. We hope our customers will be delighted with this offer.” </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-21', 'modified' => '2020-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '12241', 'image' => '20200921122714_Mnemonic 2.jpg', 'article_date' => '2020-09-21 12:26:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12493', 'article_category_id' => '1', 'title' => 'FNCCI Election to be Held in Late November ', 'sub_title' => '', 'summary' => 'September 20: The election for a new executive committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has been scheduled for late November.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 20: The election for a new executive committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has been scheduled for late November. The election has been delayed time and again due to 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:"Arial Unicode MS"">A meeting of the office bearers of FNCCI on Friday decided to hold the 45<sup>th</sup> General Assembly and election of FNCCI on November 26-27. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The date fixed for the election is yet to be approved by the executive committee of FNCCI. The umbrella body of entrepreneurs and industrialists of Nepal has called its executive committee meeting in late September to discuss about the General Assembly and the election. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The meeting will endorse the date of election, informed FNCCI Vice President Chandra Dhakal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We will initiate the process to seek permission from the government to hold the General Assembly before the executive committee meeting. The executive committee will decide on the modality of election,” Dhakal 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:"Arial Unicode MS"">“The executive committee meeting is scheduled for September 27-28,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, two factions of FNCCI were divided over the date of election. But all sides have agreed to the new date of election, informed Kishor Pradhan, district vice president of FNCCI.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It has been learnt that the FNCCI is preparing to hold its General Assembly through Zoom meeting while the election will be held in Kathmandu by following the health protocols set by the government.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12240', 'image' => '20200920053207_1600556458.Clipboard06.jpg', 'article_date' => '2020-09-20 17:31:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12492', 'article_category_id' => '1', 'title' => 'BFIs Instructed to Fix Stable Interest Rates on Personal Loans ', 'sub_title' => '', 'summary' => 'September 20: Nepal Rastra Bank (NRB) has directed all banks and financial institutions (BFIs) to fix their interest rates on all personal loans like home loans and auto loans before the end of Ashoj (October 16).', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">September 20: Nepal Rastra Bank (NRB) has directed all banks and financial institutions (BFIs) to fix their interest rates on all personal loans like home loans and auto loans before the end of Ashoj (October 16). The central bank had issued the Unified Directive 2077 more than two weeks ago , instructing all BFIs to fix a stable interest rates on personal loans, with more than one year to maturity.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">The central bank has given the deadline of October 16, after the bankers expressed the need for more time to conduct necessary studies and analyses before fixing and implementing the stable rate of interest.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Dev Kumar Dhakal, executive director of the Banking and Financial Institutions Regulation Department of NRB, said that the banks have been given some time to make necessary arrangements to fix their long-term interest rates and to manage the risks associated with it. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">“The loans taken at a rate of 8 percent have been increased to 15 percent. Many customers complained about the fact that the interest rates keep rising,” he told New Business Age, adding, “This is why the banks will have to determine a fixed interest rate along with the necessary plans for managing their risks.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Debtors had to constantly worry about the new rates as the banks usually increased their interest rates every 3 months. All the debtors complain about facing difficulties every time the interest rates increased. The policy for a fixed interest rate was introduced to put an end to this. Since this rate will have to be implemented for a long term, commercial banks, development banks and finance companies are busy studying and analyzing before determining their rates.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">The interest rates on deposits and loans have been decreasing as banks have a liquidity of around Rs 200 billion. Bankers said that they are trying to determine the appropriate long-term fixed interest rates for personal loans by studying and employing proper strategies. Banks have also been analyzing the changes in the interest rates on deposits and loans in the last 30 years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Bhuwan Kumar Dahal, chairman of Nepal Bankers’ Association, said that they were studying about how international banks have fixed their interest rates on personal loans. “All of the banks are studying each and every aspect of fixed interest rates in their own ways,” he said, “If necessary, the association will also conduct a study.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Saroj Kaji Tuladar, president of Nepal Financial Institutions Association, also said that finance companies have also been analyzing the rates of the last 30 years on loans and deposits to determine their fixed rates. He believes that this will allow them to understand how and when the rates changed in the long term, which will help them to determine their fixed interest rates. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">“It may be risky to fix the interest rates for a long term in a country with a volatile economy. That is why we had requested the central bank to determine the fixed interest rates for 1-2 years.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">Banks and financial institutions will give the customers the choice to opt for the fixed interest rates on personal loans with more than one year to maturity. NRB has made a provision that will allow the customer to choose either a fixed interest rate or a floating rate that change with the changes in the base rate of the BFIs. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt">According to NRB, the terms and conditions of the personal loans including home loans and auto loans will have to be updated as per the customer’s request, to maintain the fixed interest rate on the monthly/ quarterly/ periodic installments before the implementation of this directive.</span></span></span><br /> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12239', 'image' => '20200920041120_1600382287.bbbb.jpg', 'article_date' => '2020-09-20 16:10:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12491', 'article_category_id' => '1', 'title' => 'Much-Hyped Train Sent Back to India from Janakpur ', 'sub_title' => '', 'summary' => 'September 20: Train service takes at least a month and a half to come in regular operation. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 20: Train service takes at least a month and a half to come in regular operation. </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">September 20: The train that arrived in Janakpur on September 18 for trial has been returned back to India due to lack of necessary preparations for regular operation here in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Despite the government's announcement to operate the train as early as possible, the train has been sent back to India due to lack of preparation by the authorities of the Railways Department. The authorities are unable to complete the necessary preparation even after a year and a half since the project was initiated.</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">Meanwhile, Nepal Railway Company has informed that it will take them at least a month and a half to initiate regular operation of the train.</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">Although the train was tested along the 34-kilometer-long section of Janakpur-Jaynagar on Friday (September 20), the inability of the concerned authorities to have necessary manpower compelled the train to return back to India for security reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepal Railway Company has not recruited the necessary technical and administrative staff for the operation of the railway. Likewise, the process of bringing railway engineers from India has not been completed by the railway authority of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Nepal Railway Company Limited issued notice on September 13 to appoint 139 employees. The company has called for applications for contract services within 15 days. Government authorities estimate that they will need at least one and a half to two months to complete the recruitment process.</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">Guru Bhattarai, general manager of the company, informed that the decision about bringing the railway engineers from India will be taken in the coming week. </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 further informed that if the train is not operated for a long time, the parts may deteriorate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12238', 'image' => '20200920025413_1600555970.4.jpg', 'article_date' => '2020-09-20 14:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12490', 'article_category_id' => '1', 'title' => 'Industrialists Hopeful of Revival of Economic Activities during Festive Season', 'sub_title' => '', 'summary' => 'September 20: Industrialists of the Bara-Parsa Industrial Corridor have become hopeful of better production after the government eased the prohibitory order, allowing public transportation and opening markets.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 20: Industrialists of the Bara-Parsa Industrial Corridor have become hopeful of better production after the government eased the prohibitory order, allowing public transportation and opening markets.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the removal of restrictions, import through Birgunj customs point has also increased.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chief of the BIrgunj-based Integrated Check Post (ICP) Gopal Khatri confirmed that the import through Birgunj has increased.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The import has increased after the government lifted ban on transportation. Around 600 vehicles get customs clearance on a daily basis now,” said Khatri.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During normal days, around 700 cargo vehicles enter Nepal through this customs point, informed Khatri. However, during the lockdown period, around 15- to 450 vehicles used to enter Nepal per day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Import of goods for the festive season and new automobiles has increased,” added Khatri.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the festive season just around the corner and the government lifting restrictions, chairman of Birgunj Chamber of Commerce Gopal Kedia expects a major boost in economic activities.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The situation is better than before. But still the market can remain open for a limited period only. Customers haven’t shown up as expected. But we are hopeful that our business will pick up pace as the festive season is approaching,” says Kedia.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The district administration has allowed the market place in Birgunj to open from 11 am to 4 pm.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Industrial activities have obviously started increasing after the restrictions on transportation were lifted and the market started opening,” says Babulal Chachan, chairman of Chachan Group. “However, it will take some time for the business activities to return to normalcy as the market has been badly affected by six months of restrictions,” he added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Production of more than 1000 industries in the corridor has been badly affected by the four-month lockdown and the subsequent prohibitory order.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12237', 'image' => '20200920113142_Clipboard41(13).jpg', 'article_date' => '2020-09-20 11:31:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12489', 'article_category_id' => '1', 'title' => 'World Bank Approves $200 Million to Strengthen Nepal’s Financial Sector ', 'sub_title' => '', 'summary' => 'September 20: The World Bank has approved a $200 million “Finance for Growth” development policy credit to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal’s COVID-19 resilience and recovery efforts.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 20: </span></span><span style="font-size:14.0pt"><span style="font-family:Times">The World Bank has approved a $200 million “Finance for Growth” development policy credit to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal’s COVID-19 resilience and recovery efforts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The World Bank said in a statement that the “Finance for Growth” operation will support enhanced supervision of risks confronting the banking and financial institutions, especially in the context of the pandemic’s impacts. The operation will also help build capital, insurance, venture capital and private equity and disaster risk financing markets through regulatory reforms. This will help open new investment opportunities for market actors and crowd-in private financing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“In this era of COVID-19, protecting people’s lives is the priority, but giving a boost to economic recovery is equally urgent,” the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka, as saying. “This project and World Bank support will pave the way for the financial sector and capital and insurance markets to strengthen resilience and more effectively contribute to Nepal’s COVID-19 recovery.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The other critical area of focus is to expand access to finance for households, women and firms through regulatory and other reforms that will attract additional inflow of international finance and mobilize digital services, credit infrastructure and literacy programs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">“The project supports the government’s significant reform agenda to enable the financial sector to better respond to the new socio-economic challenges arising from the COVID-19 pandemic,” stated Peter Mousley, Project Task Team Leader of the World Bank, adding, “Initiatives to extend access to digital financial services and attract private financing to complement the government’s fiscal resources to address disasters are two innovations that will significantly benefit households and women in Nepal.” </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-20', 'modified' => '2020-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '12236', 'image' => '20200920100437_WORLD-BANK-696x447.jpg', 'article_date' => '2020-09-20 10:03:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12488', 'article_category_id' => '1', 'title' => 'Customers of Digital Wallets to get Interest ', 'sub_title' => '', 'summary' => 'September 18: Online payment gateways are planning to provide interest on customers’ mobile wallet after Nepal Rastra Bank gave them the permission to do so.', 'content' => '<h1><span style="font-size:20px"><span style="font-family:"Times New Roman"">September 18: Online payment gateways are planning to provide interest on customers’ mobile wallet after Nepal Rastra Bank gave them the permission to do so.</span></span></h1> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The Payment and Settlement Regulations 2077 issued three months ago has a provision that allows the organizations willing to provide interest to their customers to do so by seeking permission from the central bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Mobile wallets aren’t generally used for the purpose of keeping deposits. The Payment System Department of the central bank informed that all of the payment service providers have shown their curiosity about the new provision.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">However, IME Pay has been providing interest to its customers that have the minimum balance in their accounts prior to the issuance of this regulation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">IME Pay had obtained permission for the operation of its business from the central bank three years ago under the name ‘IME Digital Solution Limited’. It had submitted an application to provide interest to its customers on the minimum balance in their wallet a year later. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Sudeep Sigdel, the compliance manager of IME Pay, said that after receiving the permission from the central bank and making the necessary technical arrangements, this facility is being provided to their customers since the last six months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">According to him, the interest rate on the minimum balance (Rs 1000) in the super-wallet was determined as the same rate provided in the general savings account of Global IME Bank. “In coordination with the bank, the interest will be provided on a quarterly basis to the customers. We have been providing interest from the beginning of the lockdown (March). This has been very profitable for our customers,” he told New Business Age.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">He claims that this facility has encouraged the customers. According to him, IME Pay has a total of one million customers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Other online payment providers are also planning to implement this system after IME Pay. E-sewa has already started its internal work for it. Roshan Lamichhane, the CEO of E-sewa said that they will apply for the permission from the central bank only after completing internal preparation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> “Since the money in the wallet and the responsibility of the interest will be given to a bank, there are still some discussions to be done. It is necessary to reach to an agreement with Nabil Bank, which is the bank that we are coordinating with,” he said.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">The maximum limit of money transfer and payment will be Rs 25,000 per transaction, Rs 100,000 per day and Rs 500,000 per month through an agent/ sub-agent to the wallet, bank account to the wallet, the wallet to another bank account or one wallet to another wallet. </span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There is no limit for transferring money from the wallet to the wallet carrier’s bank account.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There are 14 payment service providers in operation till now. They are Phone Pay, Cellcom, CG Pay, Sparrow Pay (Khalti), Pay Nep, Q Pay, Nepal Paytime, Smart Card Nepal, Mohar Digital, Prabhu Technologies, E-Net Payment, Focusone Payment Solution Pvt. Ltd. And Kurakani Pvt. Ltd.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">Four more such companies are in the process of coming into operation. The central bank has already given the Letter of Intent to Nepal Digital Payment Company, Buddha Light International Pvt. Ltd., ICash Pvt. Ltd. And Chhito Paisa Pvt. Ltd. for conducting electronic transactions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman"">There will now be 18 payment service providers in the market soon.</span></span></p> ', 'published' => true, 'created' => '2020-09-18', 'modified' => '2020-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '12235', 'image' => '20200918073634_digita.jpg', 'article_date' => '2020-09-18 19:35:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12487', 'article_category_id' => '1', 'title' => 'Work Procedure to Avail Concessional Loan Ready', 'sub_title' => '', 'summary' => 'September 18: The government has prepared the work procedure to avail loan at 5 percent interest to the industries affected by coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 18: The government has prepared the work procedure to avail loan at 5 percent interest to the industries affected by 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:"Arial Unicode MS"">Finance ministry will submit the work procedure to the next cabinet meeting for the mobilization of a relief fund of Rs 50 billion from which the concessional loan will be provided. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank had prepared the work procedure and submitted it to the finance ministry. The ministry will be presenting it to the Council of Ministers, informed officials.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Joint secretary at the finance ministry Jhak Prasad Acharya informed that they have completed all preparations to present the work procedure during the next cabinet meeting.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to NRB Spokesperson Dr Gunakar Bhatta, the work procedure has been prepared in line with the announcement made in the annual budget and the monetary policy for the current fiscal year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-18', 'modified' => '2020-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '12234', 'image' => '20200918011828_rises 2.jpg', 'article_date' => '2020-09-18 13:17:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
