Insurance on Deposits and Loans Increasing

Aug 30, 2020 0 2 minutes 31 seconds to read

August 30: Insurance on deposits and loans has increased in the Deposit and Credit Guarantee Fund.…

Weak Vigilance Against Covid-19 in Bara-Parsa Industrial Corridor

Aug 30, 2020 0 1 minutes 47 seconds to read

August 30: The local authorities in Bara and Parsa have instructed industries in the industrial corridor to mandatorily arrange quarantine facilities for their workers in order to run the industry.…

Government Preparing to Ban Import of Aircraft Manufactured More than 12 Years Ago

Aug 30, 2020 0 2 minutes 45 seconds to read

August 30: The government is preparing to enforce a ban on purchase of aircraft older than 12 years by any commercial airliner.…

'Almost 40 Percent of Commercial Shops in Kathmandu Vacated'

Aug 28, 2020 0 2 minutes 28 seconds to read

ugust 28: Rental spaces in prime commercial areas of Kathmandu are going vacant due to the crisis caused by coronavirus.…

Industrialist Binod Chaudhary Tests Positive for Covid-19

Aug 28, 2020 0 1 minutes 12 seconds to read

August 28: Nepal’s business tycoon Binod Chaudhary has tested positive for…

Price of Gold Drops by Rs 700 per 11 Grams

Aug 28, 2020 0 1 minutes 30 seconds to read

August 28: The price of gold has dropped by Rs 700 per 11 grams on…

Revenue Collection Suffers Setback Again

Aug 28, 2020 0 2 minutes 23 seconds to read

August 28: Revenue collection has suffered a setback again due to the prohibitory order issued by local governments in various districts across the…

Police Crack Down on Online Delivery Service

Aug 28, 2020 0 3 minutes 48 seconds to read

August 28: Police on Thursday took action against e-commerce companies that have been providing online delivery service for violating the prohibitory…

Prohibitory Order More Hazardous to Industries than Lockdown

Aug 28, 2020 0 3 minutes 48 seconds to read

August 28: Entrepreneurs and industrialists say that the recent prohibitory order issued on August 19 has affected their businesses much more than the four-month lockdown imposed by the government on March…

Industrial Corridors Hit Hard by Prohibitory Order

Aug 28, 2020 0 1 minutes 52 seconds to read

August 28: The production of the nation’s major industrial corridors has shrunk due to the prohibitory order imposed by the government to control the spread of coronavirus…

Eight Years on, Metro Rail Remains a Pipedream for Kathmanduites

Aug 27, 2020 0 1 minutes 49 seconds to read

August 27: It has been eight years since the government completed feasibility study of metro rail at five different places of the capital,…

CAAN Preparing to Resume International Flights Soon

Aug 27, 2020 0 1 minutes 58 seconds to read

August 27: The Civil Aviation Authority of Nepal (CAAN) is making preparations to resume regular flights from September.…

Automobile Business Slumps during Peak Season

Aug 27, 2020 0 2 minutes 26 seconds to read

August 27: The automobile business, which is more vibrant between August to November, has collapsed this…

Loan Accounts of Finance Companies and Development Banks Declining

Aug 27, 2020 0 3 minutes 31 seconds to read

August 27: Bankers believe that the reason for the decrease in the loan account of ‘B’ and ‘C’ class finance companies is the mergers and acquisitions of finance companies and development banks by commercial…

Chemical Fertilizers Finally Arrive in Birgunj

Aug 27, 2020 0 2 minutes 54 seconds to read

August 27: Chemical fertilizers that were stranded in Indian ports since the last five months have finally arrived at Birgunj Dry Port.…

< previous595596597598599600601602603next >

No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'id' => '12396',
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			'title' => 'Insurance on Deposits and Loans Increasing',
			'sub_title' => '',
			'summary' => 'August 30: Insurance on deposits and loans has increased in the Deposit and Credit Guarantee Fund. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 30: Insurance on deposits and loans has increased in the Deposit and Credit Guarantee Fund. The fund shows that insurance on the deposits of 638,000 depositors has been done within the fiorst month of the current fiscal year (mid-July to mid-August).</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bishnu Babu Mishra, the chief executive officer (CEO) of the fund, informed that the number of insurances on deposits have increased in the review period.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">He stated that the reason behind this is the distribution of the branches of banks all over the country.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The savings, current, call and term deposits of 26.64 million persons in all banks and finance companies have been insured in between mid-July to mid-August. The fund had insured deposits worth Rs 689.49 billion in 26 million accounts of the 72 banks and finance companies till mid-July.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Similarly, deposits worth Rs 603.39 billion in 2.2 million accounts were insured during the corresponding period of last fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-08-30%20at%203.07.29%20PM.png" style="height:311px; width:800px" /></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deposits totaling to Rs 713.2 billion of 26.66 million depositors have been protected because of the insurance done by the banks and finance companies. Furthermore, loans totaling to Rs 80 billion taken by 899,000 debtors have also been insured.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The fund has been providing protection to savings or term account holders that have deposits up to 300,000, since October/November 2018.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Protection was given for up to 200,000 in deposits before this. According to the provision of Nepal Rastra Bank, a protection of maximum 300,000 can be given on the savings and term accounts of a depositor. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The fund has also been providing protection of maximum Rs 20 million for loans on SME and agricultural loans and protection of maximum Rs 1.5 million for deprived sector lending to banks and finance companies.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deposit and Credit Guarantee Fund has insured additional 1.1 million accounts of banks and finance companies within the first month of the new fiscal year. CEO Mishra informed that the banks have insured Rs 80 billion debtors by mid-August. </span></span></p>

<p>&nbsp;</p>
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			'title' => 'Weak Vigilance Against Covid-19 in Bara-Parsa Industrial Corridor',
			'sub_title' => 'Government directs industries to arrange quarantine facility for workers inside the industry',
			'summary' => 'August 30: The local authorities in Bara and Parsa have instructed industries in the industrial corridor to mandatorily arrange quarantine facilities for their workers in order to run the industry. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">August 30: The local authorities in Bara and Parsa have instructed industries in the industrial corridor to mandatorily arrange quarantine facilities for their workers in order to run the industry. </span></span></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">Chief District Officer of Parsa, Asman Tamang, informed that the District Security Committee and the District Disaster Management Center have decided to allow industries to operate by mandatorily arranging quarantine facility for workers.</span></span></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">According to government standards, industry operators should run the industry by managing quarantine for workers to prevent the spread of coronavirus infection. However, Chief District Officer Tamang informed that the industries have not been strictly following the guidelines due to which they have stepped up monitoring. </span></span></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">&nbsp;&ldquo;We are also coordination with the administration of the neighboring district of Bara for full implementation of security vigilance against Covid-19. Industries will be strictly told to follow the rules,&rdquo; he informed NBA.</span></span></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 local authority in Parsa has mandated the industrial establishments to make arrangements for quarantine facility for the workers within the premises of the respective industry due to the surge of the virus amont the workers. </span></span></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">&ldquo;In case the industries are unable to manage quarantine facility within the industry, the workers should be kept away from the contact of the community even if the quarantine facility is outside the industry,&rdquo; the authorities said in a circular.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Government Preparing to Ban Import of Aircraft Manufactured More than 12 Years Ago',
			'sub_title' => '',
			'summary' => 'August 30: The government is preparing to enforce a ban on purchase of aircraft older than 12 years by any commercial airliner. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 30: The government is preparing to enforce a ban on purchase of aircraft older than 12 years by any commercial airliner. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A draft of the new aviation policy prepared by the Ministry of Culture, Tourism and Civil Aviation states that any aircraft older than 12 years or those with 50 percent economic life or the ones that have completed 35,000 pressurization cycles would not be allowed to operate 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:&quot;Arial Unicode MS&quot;">Prior to this, the aviation policy of Nepal allowed commercial airliners to purchase aircraft that were manufactured 15 years ago.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private airline companies of Nepal have welcomed most of the provisions of the new aviation policy but have expressed their reservation regarding the provision to ban the import of aircraft older than 12 years. They are preparing to submit a letter of dissent to the ministry soon.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Managing Director of Buddha Air, Birendra Bahadur Basnet, says that the new provision is unnecessary. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We do not agree with the provision that bars us from purchasing aircraft manufactured more than&nbsp; 12 years ago because the age of an aircraft depends on its nature and maintenance. Therefore, this provision is not necessary,&rdquo; says Basnet.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In the new policy, the ministry has proposed exemption of income tax for give years for the investors who invest more than Rs 2 billion in the aviation sector 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:&quot;Arial Unicode MS&quot;">Likewise, the government has also proposed waiving 100 percent customs duty on the purchase of aircraft manufactured less than five years ago. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Also, the government plans to provide concession in income tax for three years if the airline companies operate new aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Culture, Tourism and Civil Aviation is seeking feedback from stakeholders regarding the new policy. The government has drafted this new policy after 14 years.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12393',
			'article_category_id' => '1',
			'title' => ''Almost 40 Percent of Commercial Shops in Kathmandu Vacated' ',
			'sub_title' => '',
			'summary' => 'ugust 28: Rental spaces in prime commercial areas of Kathmandu are going vacant due to the crisis caused by coronavirus. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 28: Rental spaces in prime commercial areas of Kathmandu are going vacant due to the crisis caused by coronavirus. Shops in&nbsp; down town Kathmandu are closing due to the impact of the four-month long lockdown and the ongoing restriction on public movement imposed by the government to contain the spread of the that has infected more than 35,000 persons in the country.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to an informal estimate, almost forty percent of the shops in the capital have already been vacated by the owners because of the decline in business due to Covid-19.</span></span></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">New Road, Asan, Indrachowk, Thamel, Koteshwor, Baneshwor, Chabahil, which are considered as the main business hubs of Kathmandu are witnessing an unprecedented crisis. Shops in the inner parts of the city have also been vacated. </span></span></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">According to entrepreneurs, the increase in the number of coronaviruses cases in the valley has led to a spike in the number of shops and rental areas being vacated as an economic activities have come to a halt.</span></span></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">Thamel, in particular, has the majority of rental space for commercial use in Kathmandu and is witnessing the highest number shops being vacated.</span></span></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">Bhavishwar Sharma, vice-chairman of the Thamel Tourism Development Board, informed that around 700 entrepreneurs have vacated their shops and flats in Thamel so far.</span></span></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 informed New Business Age that the upper floors of the houses used for tourism business and office purpose have also been vacated.</span></span></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">Sharma estimates that there are around 10,000 rooms rented by tourism entrepreneurs in the area around Thamel. Those are basically used as hotels, restaurants, travel agencies, money exchanges, and handicraft shops. </span></span></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 informed that tourism entrepreneurs in Thamel pay between Rs 15,000 to Rs 4.5 million per month as rental charge depending on the location and size of the commercial space.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12391',
			'article_category_id' => '1',
			'title' => 'Industrialist Binod Chaudhary Tests Positive for Covid-19',
			'sub_title' => '',
			'summary' => 'August 28: Nepal’s business tycoon Binod Chaudhary has tested positive for Covid-19.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Nepal&rsquo;s business tycoon Binod Chaudhary has tested positive for Covid-19.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The billionaire industrialist took to social media on Friday (August 28) to make the announcement.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed his well wishers and friends through a tweet that the result of his PCR test came positive &ldquo;this morning&rdquo;. He further said that he has no symptoms so far and also urged everyone who came in contact with him to take &ldquo;all possible precautions&rdquo;.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;He further said that he has isolated himself as per the doctor&rsquo;s advise.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Chaudhary is the founder of Chaudhary Group of Industries and is renowned for his popular product &ndash; Wai Wai.</span></span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/binod%20chaudyary.jpg" style="height:201px; width:800px" /></span></p>
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			'image' => '20200828032441_1598602951.binod_chaudhary_cg_group.jpg',
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		'Article' => array(
			'id' => '12392',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops by Rs 700 per 11 Grams',
			'sub_title' => '',
			'summary' => 'August 28: The price of gold has dropped by Rs 700 per 11 grams on Friday.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: The price of gold has dropped by Rs 700 per 11 grams on Friday. The price of gold is fluctuating in the domestic market of Nepal due to the fluctuation in price in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, fine gold is being traded for Rs 96,900 per tola (11 grams ) on Friday. The price of gold was Rs 97,600 on Thursday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, silver is being traded for Rs 1340 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The uncertainty caused by coronavirus had resulted in skyrocketing of gold price in the international market until a few weeks ago. Nepal was not an exception as investors started making heavy investment in gold. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold had crossed the 100,000 mark in Nepal just a few weeks 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:&quot;Arial Unicode MS&quot;">However, the price has been declining ever since Russia announced a vaccine for coronavirus some time ago.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Revenue Collection Suffers Setback Again ',
			'sub_title' => '',
			'summary' => 'August 28: Revenue collection has suffered a setback again due to the prohibitory order issued by local governments in various districts across the country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Revenue collection has suffered a setback again due to the prohibitory order issued by local governments in various districts across the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had just started making some progress in revenue collection after the four-month long lockdown was lifted a month ago when the new restrictions played the spoilsport.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Revenue officials said they were close to meeting the target of revenue collection after the lockdown was lifted on July 21. But the imposition of prohibitory order in the capital and other districts where major industries are located once again prevented the Inland Revenue Department from meeting its target.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Before the prohibitory orders were imposed, the revenue collection was around Rs 2 billion per day. But it took a nosedive after the restrictions were announced by the local governments. Revenue offices under the IRD are struggling to collect Rs 1 billion per day at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Director General of IRD Binod Bahadur Kunwar, revenue collection has been hampered because people are not able to come out of their homes while the revenue offices are also not able to operate 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:&quot;Arial Unicode MS&quot;">&ldquo;We are not even able to collect revenue worth Rs 300 million per day,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Even the customs department has failed to collect revenue as the northern border remains closed while there is limited entry of goods from the Nepal-India border. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The prohibitory order has affected industrial works and therefore the import of raw materials has also declined. This is one of the major reasons for the decline in revenue collection,&rdquo; said a high-ranking revenue official requesting anonymity.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12387',
			'article_category_id' => '1',
			'title' => 'Police Crack Down on Online Delivery Service',
			'sub_title' => '65 Arrested for Delivering Non-Essential Goods  ',
			'summary' => 'August 28: Police on Thursday took action against e-commerce companies that have been providing online delivery service for violating the prohibitory order.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Police on Thursday took action against e-commerce companies that have been providing online delivery service for violating the prohibitory order.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police also took the operators and staffers of such companies in custody in a crackdown that began on August 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:&quot;Arial Unicode MS&quot;">The operators of the e-commerce companies were later released in the evening under the condition that they would suspend their service while the prohibitory order is in force.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The operators of the companies were arrested from their offices while the staffers were taken under control while they were delivering essential goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Different teams of police on Thursday (August 27) arrested 65 staffers of the e-commerce companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police took action against the staffers of Foodmandu, Foodmario, Bhojdeal, UG Cakes, Pathao among other e-commerce companies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The e-commerce companies complained that the police arrested their operators and staffers despite the government&rsquo;s announcement to allow essential services like delivery of medicines, food, gas, petroleum products, vegetables and fruits among others. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Issuing a joint statement on Thursday, stakeholders of the e-commerce companies said that the police action was against the circular issued by the chief district officers of the three districts of Kathmandu Valley while announcing the prohibitory order.</span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/34108613_597288377313327_4261298553445416960_n.jpg" style="height:480px; width:482px" /></p>

<p><em>Nikita Acharya, operator of UG Cakes in this picture taken from Facebook.</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Operator of UG Cakes, Nikita Acharya, informed New Business Age that she and her staffers were arrested from their office at around 5 pm on Thursday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, operator of Foodmandu Manohar Adhikari said that seven of their staffers were arrested while they were delivering food. He said that the police then called them to the station and warned them not to operate their business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sailesh Lohani, the proprietor of Socheko, said that the police told them not to provide service after 9 am.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the police said that they took action against the e-commerce companies because they were not providing essential services.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government has ordered additional measures during prohibitory order from Wednesday onwards. The local authorities have banned all other services except essential ones. We took action against the online companies because they were not providing essential services,&rdquo; said police officer Somendra Singh Thakur. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We took action against those delivering pizza, mo:mo, cakes. These do not fall under essential services,&rdquo; said Thakur.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12388',
			'article_category_id' => '1',
			'title' => 'Prohibitory Order More Hazardous to Industries than Lockdown',
			'sub_title' => '',
			'summary' => 'August 28: Entrepreneurs and industrialists say that the recent prohibitory order issued on August 19 has affected their businesses much more than the four-month lockdown imposed by the government on March 24.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Entrepreneurs and industrialists say that the recent prohibitory order issued on August 19 has affected their businesses much more than the four-month lockdown imposed by the government on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They claim that 75 percent of their businesses have come to a halt due to lack of consumption and production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The lockdown imposed by the government on March 24 was lifted almost after four months on July 21. During the lockdown period, the government had decided on May 8 to allow 44 different industries to resume operation. Those industries had slowly started returning back to business. They had increased their production capacity after the government eased the restriction. But now, they are facing the same problem once again.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior Vice President of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) Shekhar Golchha says that the industries that were slowly returning to normalcy have again suffered another setback. He agreed that prohibitory order was necessary due to the high risk of infection but said closing industries is not a solution to the problem.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Operating businesses and industries has risk of spreading infection while closing them threatens the economy. Therefore, it is essential to reopen businesses and industries by adopting safety measures and high alertness,&rdquo; says Golchha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Golchha says although some industries are manufacturing essential goods, they are facing problems in transporting the products to the market. Lack of market means they are forced to stop production. In such a scenario, Golchha fears that many industries will become bankrupt if the current situation persists any longer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Senior Vice President of Nepal Chamber of Commerce, Rajendra Malla, says that 40 percent industries were operating in June/July but now almost all of them are closed. He said that economic activities have almost come to a complete halt.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He was of the view that it is essential to stop the spread of coronavirus but at the same time the government must also facilitate in reopening industries and businesses.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other industrialists say that lack of raw materials due to transportation problem has forced them to downsize their production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bishnu Neupane, chairman of Saurav Group, which manufactures cement and iron, says they are operating at 15 percent capacity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Industrialists complain that although the federal government has pledged not to halt the transportation service for essential goods,&nbsp; including raw materials for industries, the provincial and local governments have been obstructing vehicular movement upon confirmation of coronavirus cases in their respective areas.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Neupane says that the government has not banned production in industries but complained that the authorities do not facilitate them in sales and supply of their products.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12389',
			'article_category_id' => '1',
			'title' => 'Industrial Corridors Hit Hard by Prohibitory Order ',
			'sub_title' => '',
			'summary' => 'August 28: The production of the nation’s major industrial corridors has shrunk due to the prohibitory order imposed by the government to control the spread of coronavirus infection.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 28: The production of the nation&rsquo;s major industrial corridors has shrunk due to the prohibitory order imposed by the government to control the spread of coronavirus infection. The industrial activities, that were returning to normalcy after the government last month lifted the four-month long lockdown, has slowed down recently. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Prohibitory orders have now been imposed in more than 50 districts due to the increase in the number of coronavirus cases. Entrepreneurs say that production has declined as both the center of production and the major markets have been affected. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Subodh Kumar Gupta, senior vice president of Birgunj Chamber of Commerce, informed that the production of most of the industries in Bara-Parsa industrial corridor has dropped below 25 percent of their capacity. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similar is the condition of Sunsari-Morang industrial corridor. Entrepreneurs say that they have had to cut off 40 percent production capacity after the prohibitory order was imposed following an increase in number of infection in major commercial cities such as Biratnagar, Itahari, Dharan, Damak, and Birtamode of Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They further say that the workers in the industries of Sunsari-Morang industrial corridor have stopped coming to work after the infection started appearing among the workers. On one hand, there is fear of infection, and on the other hand the production of the industries has been affected as the workers have stopped coming to the work. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12386',
			'article_category_id' => '1',
			'title' => 'Eight Years on, Metro Rail Remains a Pipedream for Kathmanduites',
			'sub_title' => '',
			'summary' => 'August 27: It has been eight years since the government completed feasibility study of metro rail at five different places of the capital, Kathmandu.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 27: It has been eight years since the government completed feasibility study of metro rail at five different places of the capital, Kathmandu. However, investment for the project is yet to be finalized.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People&rsquo;s representatives of Kathmandu Metropolitan City as well as the government have been making announcements publicly about setting up the metro &nbsp;rail in five different routes in the capital but the preparation for seeking investment for the project has been limited only to discussions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In 2012, the feasibility study had outlined the possibility of operating metro rail across different areas covering a total distance of 87.18 kilometers. Those routes include Chobhar-Satdobato-Ratna Park-Narayan Gopal Chowk-Buddhanilkantha (22 kilometers), Kirtipur-Kalimati-New Baneshwar-Airport (11.15 kilometers), Koteshwar-Chabahil-Swayambhu (28.53 kilometers), Swayambhu-Dillibazar-Bouddha (11.70 kilometers), and Dhobighat-Singha Durbar-Gongabu (13.80 kilometers).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Railways has so far selected a consultant company for preparing the Detailed Project Report (DPR) of Narayan Gopal Chowk-Satdobato section of Chobhar-Satdobato-Ratna Park-Narayan Gopal Chowk-Buddhanilkantha route.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The consultant company was supposed to submit its report within eight months but it has been delayed due to the Covid-19 crisis, informed Director General of the department Balaram 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:&quot;Arial Unicode MS&quot;">He further said that the concerned authorities have not held any discussions regarding the establishment of metro rail along the other routes.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12385',
			'article_category_id' => '1',
			'title' => 'CAAN Preparing to Resume International Flights Soon',
			'sub_title' => '',
			'summary' => 'August 27: The Civil Aviation Authority of Nepal (CAAN) is making preparations to resume regular flights from September. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 27: The Civil Aviation Authority of Nepal (CAAN) is making preparations to resume regular flights from September. </span></span></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 Ministry of Culture, Tourism, and Civil Aviation as well as CAAN have published the schedule for international flights beginning from September 2. CAAN is making necessary preparations for flight operation safe as per the WHO and ICAO safety protocols.</span></span></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 ministry on August 26 directed CAAN to resume international flights, including regular and chartered flights. However, public health protocols listed by UN agencies and development partners has to be followed while operating the flights.</span></span></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">CAAN spokesperson Raj Kumar Chhetri informed that the aviation regulatory body has started necessary preparations in coordination with all stakeholders for resuming regular flights. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The flights are taking place. However, the government has decided to operate daily flights from September 2,&rdquo; he informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">CAAN will adopt various safety standards including time gap between each flight as well as limited number of passengers to avoid the spread of Covid-19. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&ldquo;Airline operators have been preparing their flight plans following the guidelines of the International Civil Aviation Organization (ICAO), World Health Organization (WHO) and CAAN. Airlines also have their own protocols,&rdquo; Chhetri added.</span></span></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">Currently, only chartered flights are allowed to operate mainly for the repatriation of stranded citizens and to bring medical supplies.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12384',
			'article_category_id' => '1',
			'title' => 'Automobile Business Slumps during Peak Season',
			'sub_title' => '',
			'summary' => 'August 27: The automobile business, which is more vibrant between August to November, has collapsed this year.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 27: The automobile business, which is more vibrant between August to November, has collapsed this year. In the previous years, the automobile operators had a turnover of more than Rs 10 billion during this time period. However, due to the coronavirus pandemic and prohibitory order, this sector is struggling to sustain the business this year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">In August, the automobile sector used to be active in the previous years. The automobile dealers used to be busy preparing for NADA Auto Show, Dashain scheme and other programmes. Every year in August, before the arrival of Dashain, the Automobile Association of Nepal (NADA) used to organized the NADA Auto Show. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to NADA chairman Krishna Prasad Dulal, the auto show used to run the automobile business till Dashain. However, due to the pandemic, the auto show will not be held this year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The officials of NADA say that the automobile companies have no plans to come up with any discounts and schemes for Dashain due to the increasing infection and prohibitory order. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the companies, although the sales of four-wheelers were null during the lockdown, the sales of two &ndash;wheelers and four-wheelers were increasing. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The companies had expected some relief from the NADA Auto Show, but the prohibitory order has played the spoilsport. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Dulal says that the automobile entrepreneurs, who used to have transaction of around Rs 5 billion till Dashain in the previous years, have been seriously affected this year. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;NADA will not happen, but we can&rsquo;t say what will happen during Dashain without analyzing the upcoming situation,&rdquo; he said, adding, &ldquo;If the government does not lift the restriction on automobile sales, the businessmen will have to abandon their business.&rdquo; </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12383',
			'article_category_id' => '1',
			'title' => 'Loan Accounts of Finance Companies and Development Banks Declining',
			'sub_title' => '',
			'summary' => 'August 27: Bankers believe that the reason for the decrease in the loan account of ‘B’ and ‘C’ class finance companies is the mergers and acquisitions of finance companies and development banks by commercial banks.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 27: Bankers believe that the reason for the decrease in the loan account of &lsquo;B&rsquo; and &lsquo;C&rsquo; class finance companies is the mergers and acquisitions of finance companies and development banks by commercial banks. There had been a merger between Gandaki Bikas Bank and Mega Bank some time ago. In addition to that, Kumari Bank and Deva Bikas Bank have also merged and started integrated transaction.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Commercial banks, which were not able to flow any new credit in the last 3 months (Chaitra, Baishak and Jestha) have given more than 45 thousand loans in Ashad (mid-June to mid-July). The total number of loans given by the 27 commercial banks was 1.15 million at the end of Jestha (mid-June) whereas it became 1.19 million by the end of Ashad (mid-July). However, the number of loans given has decreased for development banks and finance companies in the same period of time.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-08-27%20at%202.09.34%20PM.png" style="height:347px; width:1023px" /></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the data from Nepal Rastra Bank, the total loan account of the 20 development banks has decreased by 26,755 in the month of Ashad.&nbsp; The account that totaled 329,000 in Jestha (mid-May to mid-June) has become 320,000 in Ashad (mid-June to mid-July). However, Pradhyumna Pokharel, the senior vice-president of Nepal Development Bankers&rsquo; Association, says that the loans of development banks haven&rsquo;t been transferred by much to commercial banks. According to him, the mergers and acquisitions between development banks and commercial banks is the reason for the decrease in the number of loan account.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The loan account of the &lsquo;C&rsquo; class finance companies has also declined. The loan account of the total 22 finance companies has decreased by 160 in the month of Ashad (mid-June to mid-July). The loan account totaled to 45,489 in the month of Jestha (mid-May to mid-June). Saroj Kaji Tuladhar, the president of Nepal Financial Institutions Association, claimed that some of the debtors have moved to commercial banks because of the low-interest rate loan schemes introduced by the commercial banks due to the high liquidity in banks.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Tuladhar, who is also the CEO of Goodwill Finance, said that the interest rates on loans range from 10 percent to 15 percent in finance companies. However, commercial banks are competing for debtors by stating their interest rates as low as 7 percent. He added that some debtors have made a prepayment of their loans because of the lack of business due to the extended lockdown. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Some debtors have searched for cheaper interest rates and swapped their loans. Some of them have paid off their loan using the money they have. There have been no new applications for loan. Therefore, the loan accounts of finance companies have decreased,&rdquo; he said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The interest rates on loans had decreased by about 2 percent after the banks implemented a single digit base rate from Ashad (mid-June to mid-July). They have also brought schemes that provide a discount on the interest of loans as a relief for those affected by coronavirus. Bankers claim that despite the decline in the interest rates due to the high liquidity, the credit flow has improved a bit. Commercial banks had distributed a loan of &nbsp;Rs 86 billion between mid-June to mid-July last year. The credit flow of the commercial banks was negative during Baisakh and Jestha (between mid-April to mid-June) because of the absence of the flow of new credit.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12382',
			'article_category_id' => '1',
			'title' => 'Chemical Fertilizers Finally Arrive in Birgunj',
			'sub_title' => '',
			'summary' => 'August 27: Chemical fertilizers that were stranded in Indian ports since the last five months have finally arrived at Birgunj Dry Port. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 27: Chemical fertilizers that were stranded in Indian ports since the last five months have finally arrived at Birgunj Dry Port. Government authorities confirmed that 2,600 metric tons of urea have arrived at Birgunj from Kolkata Port. The fertilizers were sent from Kolkata last week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Salt Trading Corporation has been storing 32,000 metric tons of fertilizers at Kolkata Port. It includes 21,500 tons of fertilizers of last fiscal year and 10,500 metric tons for the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the regional office of Salt Trading Corporation, Birgunj, Amoj Lamichhane informed New Business Age that the urea will be provided to the farmers after customs clearance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The fertilizers are in the process of entering in Nepal. All the fertilizers at Kolkata will reach Nepal within a few days,&rdquo; said Lamichhane. The Birgunj office of Salt Trading Corporation supplies fertilizers to 19 districts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Besides the consignment of 2600 metric tons of urea which arrived at Birgunj through railways, an additional 3900 metric tons of urea have been sent to Nepal through road, according to Laxman Khadka, chief of the Kolkata-based Nepal Transshipment and Warehouse Management 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:&quot;Arial Unicode MS&quot;">Some of the fertilizers sent through road have entered Nepal through Biratnagar customs point.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers are facing shortage of chemical fertilizers due to the delay in supplying the fertilizers during plantation season by the Salt Trading Corporation and Krishi Samagri Company &ndash; the two state-owned companies assigned to oversee the supply of fertilizers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The fertilizers were stuck at a port in Gujrat for four months before finally arriving at Kolkata port about two weeks 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:&quot;Arial Unicode MS&quot;">Salt Trading Corporation had purchased the chemical fertilizers from Dubai-based Multi Commodities before the lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The total demand for urea this season is 30,000 metric tons.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers require urea after plantation of paddy. &nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12396',
			'article_category_id' => '1',
			'title' => 'Insurance on Deposits and Loans Increasing',
			'sub_title' => '',
			'summary' => 'August 30: Insurance on deposits and loans has increased in the Deposit and Credit Guarantee Fund. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 30: Insurance on deposits and loans has increased in the Deposit and Credit Guarantee Fund. The fund shows that insurance on the deposits of 638,000 depositors has been done within the fiorst month of the current fiscal year (mid-July to mid-August).</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bishnu Babu Mishra, the chief executive officer (CEO) of the fund, informed that the number of insurances on deposits have increased in the review period.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">He stated that the reason behind this is the distribution of the branches of banks all over the country.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The savings, current, call and term deposits of 26.64 million persons in all banks and finance companies have been insured in between mid-July to mid-August. The fund had insured deposits worth Rs 689.49 billion in 26 million accounts of the 72 banks and finance companies till mid-July.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Similarly, deposits worth Rs 603.39 billion in 2.2 million accounts were insured during the corresponding period of last fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-08-30%20at%203.07.29%20PM.png" style="height:311px; width:800px" /></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deposits totaling to Rs 713.2 billion of 26.66 million depositors have been protected because of the insurance done by the banks and finance companies. Furthermore, loans totaling to Rs 80 billion taken by 899,000 debtors have also been insured.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The fund has been providing protection to savings or term account holders that have deposits up to 300,000, since October/November 2018.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Protection was given for up to 200,000 in deposits before this. According to the provision of Nepal Rastra Bank, a protection of maximum 300,000 can be given on the savings and term accounts of a depositor. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The fund has also been providing protection of maximum Rs 20 million for loans on SME and agricultural loans and protection of maximum Rs 1.5 million for deprived sector lending to banks and finance companies.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deposit and Credit Guarantee Fund has insured additional 1.1 million accounts of banks and finance companies within the first month of the new fiscal year. CEO Mishra informed that the banks have insured Rs 80 billion debtors by mid-August. </span></span></p>

<p>&nbsp;</p>
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			'id' => '12395',
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			'title' => 'Weak Vigilance Against Covid-19 in Bara-Parsa Industrial Corridor',
			'sub_title' => 'Government directs industries to arrange quarantine facility for workers inside the industry',
			'summary' => 'August 30: The local authorities in Bara and Parsa have instructed industries in the industrial corridor to mandatorily arrange quarantine facilities for their workers in order to run the industry. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">August 30: The local authorities in Bara and Parsa have instructed industries in the industrial corridor to mandatorily arrange quarantine facilities for their workers in order to run the industry. </span></span></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">Chief District Officer of Parsa, Asman Tamang, informed that the District Security Committee and the District Disaster Management Center have decided to allow industries to operate by mandatorily arranging quarantine facility for workers.</span></span></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">According to government standards, industry operators should run the industry by managing quarantine for workers to prevent the spread of coronavirus infection. However, Chief District Officer Tamang informed that the industries have not been strictly following the guidelines due to which they have stepped up monitoring. </span></span></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">&nbsp;&ldquo;We are also coordination with the administration of the neighboring district of Bara for full implementation of security vigilance against Covid-19. Industries will be strictly told to follow the rules,&rdquo; he informed NBA.</span></span></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 local authority in Parsa has mandated the industrial establishments to make arrangements for quarantine facility for the workers within the premises of the respective industry due to the surge of the virus amont the workers. </span></span></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">&ldquo;In case the industries are unable to manage quarantine facility within the industry, the workers should be kept away from the contact of the community even if the quarantine facility is outside the industry,&rdquo; the authorities said in a circular.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12394',
			'article_category_id' => '1',
			'title' => 'Government Preparing to Ban Import of Aircraft Manufactured More than 12 Years Ago',
			'sub_title' => '',
			'summary' => 'August 30: The government is preparing to enforce a ban on purchase of aircraft older than 12 years by any commercial airliner. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 30: The government is preparing to enforce a ban on purchase of aircraft older than 12 years by any commercial airliner. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A draft of the new aviation policy prepared by the Ministry of Culture, Tourism and Civil Aviation states that any aircraft older than 12 years or those with 50 percent economic life or the ones that have completed 35,000 pressurization cycles would not be allowed to operate 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:&quot;Arial Unicode MS&quot;">Prior to this, the aviation policy of Nepal allowed commercial airliners to purchase aircraft that were manufactured 15 years ago.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private airline companies of Nepal have welcomed most of the provisions of the new aviation policy but have expressed their reservation regarding the provision to ban the import of aircraft older than 12 years. They are preparing to submit a letter of dissent to the ministry soon.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Managing Director of Buddha Air, Birendra Bahadur Basnet, says that the new provision is unnecessary. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We do not agree with the provision that bars us from purchasing aircraft manufactured more than&nbsp; 12 years ago because the age of an aircraft depends on its nature and maintenance. Therefore, this provision is not necessary,&rdquo; says Basnet.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In the new policy, the ministry has proposed exemption of income tax for give years for the investors who invest more than Rs 2 billion in the aviation sector 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:&quot;Arial Unicode MS&quot;">Likewise, the government has also proposed waiving 100 percent customs duty on the purchase of aircraft manufactured less than five years ago. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Also, the government plans to provide concession in income tax for three years if the airline companies operate new aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Culture, Tourism and Civil Aviation is seeking feedback from stakeholders regarding the new policy. The government has drafted this new policy after 14 years.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12393',
			'article_category_id' => '1',
			'title' => ''Almost 40 Percent of Commercial Shops in Kathmandu Vacated' ',
			'sub_title' => '',
			'summary' => 'ugust 28: Rental spaces in prime commercial areas of Kathmandu are going vacant due to the crisis caused by coronavirus. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 28: Rental spaces in prime commercial areas of Kathmandu are going vacant due to the crisis caused by coronavirus. Shops in&nbsp; down town Kathmandu are closing due to the impact of the four-month long lockdown and the ongoing restriction on public movement imposed by the government to contain the spread of the that has infected more than 35,000 persons in the country.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to an informal estimate, almost forty percent of the shops in the capital have already been vacated by the owners because of the decline in business due to Covid-19.</span></span></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">New Road, Asan, Indrachowk, Thamel, Koteshwor, Baneshwor, Chabahil, which are considered as the main business hubs of Kathmandu are witnessing an unprecedented crisis. Shops in the inner parts of the city have also been vacated. </span></span></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">According to entrepreneurs, the increase in the number of coronaviruses cases in the valley has led to a spike in the number of shops and rental areas being vacated as an economic activities have come to a halt.</span></span></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">Thamel, in particular, has the majority of rental space for commercial use in Kathmandu and is witnessing the highest number shops being vacated.</span></span></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">Bhavishwar Sharma, vice-chairman of the Thamel Tourism Development Board, informed that around 700 entrepreneurs have vacated their shops and flats in Thamel so far.</span></span></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 informed New Business Age that the upper floors of the houses used for tourism business and office purpose have also been vacated.</span></span></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">Sharma estimates that there are around 10,000 rooms rented by tourism entrepreneurs in the area around Thamel. Those are basically used as hotels, restaurants, travel agencies, money exchanges, and handicraft shops. </span></span></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 informed that tourism entrepreneurs in Thamel pay between Rs 15,000 to Rs 4.5 million per month as rental charge depending on the location and size of the commercial space.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12391',
			'article_category_id' => '1',
			'title' => 'Industrialist Binod Chaudhary Tests Positive for Covid-19',
			'sub_title' => '',
			'summary' => 'August 28: Nepal’s business tycoon Binod Chaudhary has tested positive for Covid-19.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Nepal&rsquo;s business tycoon Binod Chaudhary has tested positive for Covid-19.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The billionaire industrialist took to social media on Friday (August 28) to make the announcement.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed his well wishers and friends through a tweet that the result of his PCR test came positive &ldquo;this morning&rdquo;. He further said that he has no symptoms so far and also urged everyone who came in contact with him to take &ldquo;all possible precautions&rdquo;.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;He further said that he has isolated himself as per the doctor&rsquo;s advise.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Chaudhary is the founder of Chaudhary Group of Industries and is renowned for his popular product &ndash; Wai Wai.</span></span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/binod%20chaudyary.jpg" style="height:201px; width:800px" /></span></p>
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			'sortorder' => '12139',
			'image' => '20200828032441_1598602951.binod_chaudhary_cg_group.jpg',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12392',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops by Rs 700 per 11 Grams',
			'sub_title' => '',
			'summary' => 'August 28: The price of gold has dropped by Rs 700 per 11 grams on Friday.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: The price of gold has dropped by Rs 700 per 11 grams on Friday. The price of gold is fluctuating in the domestic market of Nepal due to the fluctuation in price in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, fine gold is being traded for Rs 96,900 per tola (11 grams ) on Friday. The price of gold was Rs 97,600 on Thursday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, silver is being traded for Rs 1340 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The uncertainty caused by coronavirus had resulted in skyrocketing of gold price in the international market until a few weeks ago. Nepal was not an exception as investors started making heavy investment in gold. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold had crossed the 100,000 mark in Nepal just a few weeks 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:&quot;Arial Unicode MS&quot;">However, the price has been declining ever since Russia announced a vaccine for coronavirus some time ago.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12390',
			'article_category_id' => '1',
			'title' => 'Revenue Collection Suffers Setback Again ',
			'sub_title' => '',
			'summary' => 'August 28: Revenue collection has suffered a setback again due to the prohibitory order issued by local governments in various districts across the country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Revenue collection has suffered a setback again due to the prohibitory order issued by local governments in various districts across the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had just started making some progress in revenue collection after the four-month long lockdown was lifted a month ago when the new restrictions played the spoilsport.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Revenue officials said they were close to meeting the target of revenue collection after the lockdown was lifted on July 21. But the imposition of prohibitory order in the capital and other districts where major industries are located once again prevented the Inland Revenue Department from meeting its target.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Before the prohibitory orders were imposed, the revenue collection was around Rs 2 billion per day. But it took a nosedive after the restrictions were announced by the local governments. Revenue offices under the IRD are struggling to collect Rs 1 billion per day at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Director General of IRD Binod Bahadur Kunwar, revenue collection has been hampered because people are not able to come out of their homes while the revenue offices are also not able to operate 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:&quot;Arial Unicode MS&quot;">&ldquo;We are not even able to collect revenue worth Rs 300 million per day,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Even the customs department has failed to collect revenue as the northern border remains closed while there is limited entry of goods from the Nepal-India border. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The prohibitory order has affected industrial works and therefore the import of raw materials has also declined. This is one of the major reasons for the decline in revenue collection,&rdquo; said a high-ranking revenue official requesting anonymity.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12387',
			'article_category_id' => '1',
			'title' => 'Police Crack Down on Online Delivery Service',
			'sub_title' => '65 Arrested for Delivering Non-Essential Goods  ',
			'summary' => 'August 28: Police on Thursday took action against e-commerce companies that have been providing online delivery service for violating the prohibitory order.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Police on Thursday took action against e-commerce companies that have been providing online delivery service for violating the prohibitory order.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police also took the operators and staffers of such companies in custody in a crackdown that began on August 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:&quot;Arial Unicode MS&quot;">The operators of the e-commerce companies were later released in the evening under the condition that they would suspend their service while the prohibitory order is in force.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The operators of the companies were arrested from their offices while the staffers were taken under control while they were delivering essential goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Different teams of police on Thursday (August 27) arrested 65 staffers of the e-commerce companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police took action against the staffers of Foodmandu, Foodmario, Bhojdeal, UG Cakes, Pathao among other e-commerce companies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The e-commerce companies complained that the police arrested their operators and staffers despite the government&rsquo;s announcement to allow essential services like delivery of medicines, food, gas, petroleum products, vegetables and fruits among others. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Issuing a joint statement on Thursday, stakeholders of the e-commerce companies said that the police action was against the circular issued by the chief district officers of the three districts of Kathmandu Valley while announcing the prohibitory order.</span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/34108613_597288377313327_4261298553445416960_n.jpg" style="height:480px; width:482px" /></p>

<p><em>Nikita Acharya, operator of UG Cakes in this picture taken from Facebook.</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Operator of UG Cakes, Nikita Acharya, informed New Business Age that she and her staffers were arrested from their office at around 5 pm on Thursday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, operator of Foodmandu Manohar Adhikari said that seven of their staffers were arrested while they were delivering food. He said that the police then called them to the station and warned them not to operate their business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sailesh Lohani, the proprietor of Socheko, said that the police told them not to provide service after 9 am.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the police said that they took action against the e-commerce companies because they were not providing essential services.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government has ordered additional measures during prohibitory order from Wednesday onwards. The local authorities have banned all other services except essential ones. We took action against the online companies because they were not providing essential services,&rdquo; said police officer Somendra Singh Thakur. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We took action against those delivering pizza, mo:mo, cakes. These do not fall under essential services,&rdquo; said Thakur.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12388',
			'article_category_id' => '1',
			'title' => 'Prohibitory Order More Hazardous to Industries than Lockdown',
			'sub_title' => '',
			'summary' => 'August 28: Entrepreneurs and industrialists say that the recent prohibitory order issued on August 19 has affected their businesses much more than the four-month lockdown imposed by the government on March 24.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Entrepreneurs and industrialists say that the recent prohibitory order issued on August 19 has affected their businesses much more than the four-month lockdown imposed by the government on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They claim that 75 percent of their businesses have come to a halt due to lack of consumption and production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The lockdown imposed by the government on March 24 was lifted almost after four months on July 21. During the lockdown period, the government had decided on May 8 to allow 44 different industries to resume operation. Those industries had slowly started returning back to business. They had increased their production capacity after the government eased the restriction. But now, they are facing the same problem once again.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior Vice President of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) Shekhar Golchha says that the industries that were slowly returning to normalcy have again suffered another setback. He agreed that prohibitory order was necessary due to the high risk of infection but said closing industries is not a solution to the problem.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Operating businesses and industries has risk of spreading infection while closing them threatens the economy. Therefore, it is essential to reopen businesses and industries by adopting safety measures and high alertness,&rdquo; says Golchha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Golchha says although some industries are manufacturing essential goods, they are facing problems in transporting the products to the market. Lack of market means they are forced to stop production. In such a scenario, Golchha fears that many industries will become bankrupt if the current situation persists any longer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Senior Vice President of Nepal Chamber of Commerce, Rajendra Malla, says that 40 percent industries were operating in June/July but now almost all of them are closed. He said that economic activities have almost come to a complete halt.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He was of the view that it is essential to stop the spread of coronavirus but at the same time the government must also facilitate in reopening industries and businesses.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other industrialists say that lack of raw materials due to transportation problem has forced them to downsize their production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bishnu Neupane, chairman of Saurav Group, which manufactures cement and iron, says they are operating at 15 percent capacity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Industrialists complain that although the federal government has pledged not to halt the transportation service for essential goods,&nbsp; including raw materials for industries, the provincial and local governments have been obstructing vehicular movement upon confirmation of coronavirus cases in their respective areas.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Neupane says that the government has not banned production in industries but complained that the authorities do not facilitate them in sales and supply of their products.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12389',
			'article_category_id' => '1',
			'title' => 'Industrial Corridors Hit Hard by Prohibitory Order ',
			'sub_title' => '',
			'summary' => 'August 28: The production of the nation’s major industrial corridors has shrunk due to the prohibitory order imposed by the government to control the spread of coronavirus infection.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 28: The production of the nation&rsquo;s major industrial corridors has shrunk due to the prohibitory order imposed by the government to control the spread of coronavirus infection. The industrial activities, that were returning to normalcy after the government last month lifted the four-month long lockdown, has slowed down recently. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Prohibitory orders have now been imposed in more than 50 districts due to the increase in the number of coronavirus cases. Entrepreneurs say that production has declined as both the center of production and the major markets have been affected. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Subodh Kumar Gupta, senior vice president of Birgunj Chamber of Commerce, informed that the production of most of the industries in Bara-Parsa industrial corridor has dropped below 25 percent of their capacity. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similar is the condition of Sunsari-Morang industrial corridor. Entrepreneurs say that they have had to cut off 40 percent production capacity after the prohibitory order was imposed following an increase in number of infection in major commercial cities such as Biratnagar, Itahari, Dharan, Damak, and Birtamode of Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They further say that the workers in the industries of Sunsari-Morang industrial corridor have stopped coming to work after the infection started appearing among the workers. On one hand, there is fear of infection, and on the other hand the production of the industries has been affected as the workers have stopped coming to the work. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12386',
			'article_category_id' => '1',
			'title' => 'Eight Years on, Metro Rail Remains a Pipedream for Kathmanduites',
			'sub_title' => '',
			'summary' => 'August 27: It has been eight years since the government completed feasibility study of metro rail at five different places of the capital, Kathmandu.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 27: It has been eight years since the government completed feasibility study of metro rail at five different places of the capital, Kathmandu. However, investment for the project is yet to be finalized.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People&rsquo;s representatives of Kathmandu Metropolitan City as well as the government have been making announcements publicly about setting up the metro &nbsp;rail in five different routes in the capital but the preparation for seeking investment for the project has been limited only to discussions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In 2012, the feasibility study had outlined the possibility of operating metro rail across different areas covering a total distance of 87.18 kilometers. Those routes include Chobhar-Satdobato-Ratna Park-Narayan Gopal Chowk-Buddhanilkantha (22 kilometers), Kirtipur-Kalimati-New Baneshwar-Airport (11.15 kilometers), Koteshwar-Chabahil-Swayambhu (28.53 kilometers), Swayambhu-Dillibazar-Bouddha (11.70 kilometers), and Dhobighat-Singha Durbar-Gongabu (13.80 kilometers).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Railways has so far selected a consultant company for preparing the Detailed Project Report (DPR) of Narayan Gopal Chowk-Satdobato section of Chobhar-Satdobato-Ratna Park-Narayan Gopal Chowk-Buddhanilkantha route.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The consultant company was supposed to submit its report within eight months but it has been delayed due to the Covid-19 crisis, informed Director General of the department Balaram 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:&quot;Arial Unicode MS&quot;">He further said that the concerned authorities have not held any discussions regarding the establishment of metro rail along the other routes.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 11 => array(
		'Article' => array(
			'id' => '12385',
			'article_category_id' => '1',
			'title' => 'CAAN Preparing to Resume International Flights Soon',
			'sub_title' => '',
			'summary' => 'August 27: The Civil Aviation Authority of Nepal (CAAN) is making preparations to resume regular flights from September. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 27: The Civil Aviation Authority of Nepal (CAAN) is making preparations to resume regular flights from September. </span></span></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 Ministry of Culture, Tourism, and Civil Aviation as well as CAAN have published the schedule for international flights beginning from September 2. CAAN is making necessary preparations for flight operation safe as per the WHO and ICAO safety protocols.</span></span></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 ministry on August 26 directed CAAN to resume international flights, including regular and chartered flights. However, public health protocols listed by UN agencies and development partners has to be followed while operating the flights.</span></span></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">CAAN spokesperson Raj Kumar Chhetri informed that the aviation regulatory body has started necessary preparations in coordination with all stakeholders for resuming regular flights. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The flights are taking place. However, the government has decided to operate daily flights from September 2,&rdquo; he informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">CAAN will adopt various safety standards including time gap between each flight as well as limited number of passengers to avoid the spread of Covid-19. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&ldquo;Airline operators have been preparing their flight plans following the guidelines of the International Civil Aviation Organization (ICAO), World Health Organization (WHO) and CAAN. Airlines also have their own protocols,&rdquo; Chhetri added.</span></span></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">Currently, only chartered flights are allowed to operate mainly for the repatriation of stranded citizens and to bring medical supplies.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12384',
			'article_category_id' => '1',
			'title' => 'Automobile Business Slumps during Peak Season',
			'sub_title' => '',
			'summary' => 'August 27: The automobile business, which is more vibrant between August to November, has collapsed this year.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 27: The automobile business, which is more vibrant between August to November, has collapsed this year. In the previous years, the automobile operators had a turnover of more than Rs 10 billion during this time period. However, due to the coronavirus pandemic and prohibitory order, this sector is struggling to sustain the business this year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">In August, the automobile sector used to be active in the previous years. The automobile dealers used to be busy preparing for NADA Auto Show, Dashain scheme and other programmes. Every year in August, before the arrival of Dashain, the Automobile Association of Nepal (NADA) used to organized the NADA Auto Show. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to NADA chairman Krishna Prasad Dulal, the auto show used to run the automobile business till Dashain. However, due to the pandemic, the auto show will not be held this year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The officials of NADA say that the automobile companies have no plans to come up with any discounts and schemes for Dashain due to the increasing infection and prohibitory order. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the companies, although the sales of four-wheelers were null during the lockdown, the sales of two &ndash;wheelers and four-wheelers were increasing. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The companies had expected some relief from the NADA Auto Show, but the prohibitory order has played the spoilsport. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Dulal says that the automobile entrepreneurs, who used to have transaction of around Rs 5 billion till Dashain in the previous years, have been seriously affected this year. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;NADA will not happen, but we can&rsquo;t say what will happen during Dashain without analyzing the upcoming situation,&rdquo; he said, adding, &ldquo;If the government does not lift the restriction on automobile sales, the businessmen will have to abandon their business.&rdquo; </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 13 => array(
		'Article' => array(
			'id' => '12383',
			'article_category_id' => '1',
			'title' => 'Loan Accounts of Finance Companies and Development Banks Declining',
			'sub_title' => '',
			'summary' => 'August 27: Bankers believe that the reason for the decrease in the loan account of ‘B’ and ‘C’ class finance companies is the mergers and acquisitions of finance companies and development banks by commercial banks.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 27: Bankers believe that the reason for the decrease in the loan account of &lsquo;B&rsquo; and &lsquo;C&rsquo; class finance companies is the mergers and acquisitions of finance companies and development banks by commercial banks. There had been a merger between Gandaki Bikas Bank and Mega Bank some time ago. In addition to that, Kumari Bank and Deva Bikas Bank have also merged and started integrated transaction.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Commercial banks, which were not able to flow any new credit in the last 3 months (Chaitra, Baishak and Jestha) have given more than 45 thousand loans in Ashad (mid-June to mid-July). The total number of loans given by the 27 commercial banks was 1.15 million at the end of Jestha (mid-June) whereas it became 1.19 million by the end of Ashad (mid-July). However, the number of loans given has decreased for development banks and finance companies in the same period of time.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-08-27%20at%202.09.34%20PM.png" style="height:347px; width:1023px" /></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the data from Nepal Rastra Bank, the total loan account of the 20 development banks has decreased by 26,755 in the month of Ashad.&nbsp; The account that totaled 329,000 in Jestha (mid-May to mid-June) has become 320,000 in Ashad (mid-June to mid-July). However, Pradhyumna Pokharel, the senior vice-president of Nepal Development Bankers&rsquo; Association, says that the loans of development banks haven&rsquo;t been transferred by much to commercial banks. According to him, the mergers and acquisitions between development banks and commercial banks is the reason for the decrease in the number of loan account.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The loan account of the &lsquo;C&rsquo; class finance companies has also declined. The loan account of the total 22 finance companies has decreased by 160 in the month of Ashad (mid-June to mid-July). The loan account totaled to 45,489 in the month of Jestha (mid-May to mid-June). Saroj Kaji Tuladhar, the president of Nepal Financial Institutions Association, claimed that some of the debtors have moved to commercial banks because of the low-interest rate loan schemes introduced by the commercial banks due to the high liquidity in banks.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Tuladhar, who is also the CEO of Goodwill Finance, said that the interest rates on loans range from 10 percent to 15 percent in finance companies. However, commercial banks are competing for debtors by stating their interest rates as low as 7 percent. He added that some debtors have made a prepayment of their loans because of the lack of business due to the extended lockdown. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Some debtors have searched for cheaper interest rates and swapped their loans. Some of them have paid off their loan using the money they have. There have been no new applications for loan. Therefore, the loan accounts of finance companies have decreased,&rdquo; he said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The interest rates on loans had decreased by about 2 percent after the banks implemented a single digit base rate from Ashad (mid-June to mid-July). They have also brought schemes that provide a discount on the interest of loans as a relief for those affected by coronavirus. Bankers claim that despite the decline in the interest rates due to the high liquidity, the credit flow has improved a bit. Commercial banks had distributed a loan of &nbsp;Rs 86 billion between mid-June to mid-July last year. The credit flow of the commercial banks was negative during Baisakh and Jestha (between mid-April to mid-June) because of the absence of the flow of new credit.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12382',
			'article_category_id' => '1',
			'title' => 'Chemical Fertilizers Finally Arrive in Birgunj',
			'sub_title' => '',
			'summary' => 'August 27: Chemical fertilizers that were stranded in Indian ports since the last five months have finally arrived at Birgunj Dry Port. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 27: Chemical fertilizers that were stranded in Indian ports since the last five months have finally arrived at Birgunj Dry Port. Government authorities confirmed that 2,600 metric tons of urea have arrived at Birgunj from Kolkata Port. The fertilizers were sent from Kolkata last week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Salt Trading Corporation has been storing 32,000 metric tons of fertilizers at Kolkata Port. It includes 21,500 tons of fertilizers of last fiscal year and 10,500 metric tons for the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the regional office of Salt Trading Corporation, Birgunj, Amoj Lamichhane informed New Business Age that the urea will be provided to the farmers after customs clearance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The fertilizers are in the process of entering in Nepal. All the fertilizers at Kolkata will reach Nepal within a few days,&rdquo; said Lamichhane. The Birgunj office of Salt Trading Corporation supplies fertilizers to 19 districts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Besides the consignment of 2600 metric tons of urea which arrived at Birgunj through railways, an additional 3900 metric tons of urea have been sent to Nepal through road, according to Laxman Khadka, chief of the Kolkata-based Nepal Transshipment and Warehouse Management 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:&quot;Arial Unicode MS&quot;">Some of the fertilizers sent through road have entered Nepal through Biratnagar customs point.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers are facing shortage of chemical fertilizers due to the delay in supplying the fertilizers during plantation season by the Salt Trading Corporation and Krishi Samagri Company &ndash; the two state-owned companies assigned to oversee the supply of fertilizers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The fertilizers were stuck at a port in Gujrat for four months before finally arriving at Kolkata port about two weeks 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:&quot;Arial Unicode MS&quot;">Salt Trading Corporation had purchased the chemical fertilizers from Dubai-based Multi Commodities before the lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The total demand for urea this season is 30,000 metric tons.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers require urea after plantation of paddy. &nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12396',
			'article_category_id' => '1',
			'title' => 'Insurance on Deposits and Loans Increasing',
			'sub_title' => '',
			'summary' => 'August 30: Insurance on deposits and loans has increased in the Deposit and Credit Guarantee Fund. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 30: Insurance on deposits and loans has increased in the Deposit and Credit Guarantee Fund. The fund shows that insurance on the deposits of 638,000 depositors has been done within the fiorst month of the current fiscal year (mid-July to mid-August).</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bishnu Babu Mishra, the chief executive officer (CEO) of the fund, informed that the number of insurances on deposits have increased in the review period.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">He stated that the reason behind this is the distribution of the branches of banks all over the country.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The savings, current, call and term deposits of 26.64 million persons in all banks and finance companies have been insured in between mid-July to mid-August. The fund had insured deposits worth Rs 689.49 billion in 26 million accounts of the 72 banks and finance companies till mid-July.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Similarly, deposits worth Rs 603.39 billion in 2.2 million accounts were insured during the corresponding period of last fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-08-30%20at%203.07.29%20PM.png" style="height:311px; width:800px" /></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deposits totaling to Rs 713.2 billion of 26.66 million depositors have been protected because of the insurance done by the banks and finance companies. Furthermore, loans totaling to Rs 80 billion taken by 899,000 debtors have also been insured.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The fund has been providing protection to savings or term account holders that have deposits up to 300,000, since October/November 2018.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Protection was given for up to 200,000 in deposits before this. According to the provision of Nepal Rastra Bank, a protection of maximum 300,000 can be given on the savings and term accounts of a depositor. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The fund has also been providing protection of maximum Rs 20 million for loans on SME and agricultural loans and protection of maximum Rs 1.5 million for deprived sector lending to banks and finance companies.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deposit and Credit Guarantee Fund has insured additional 1.1 million accounts of banks and finance companies within the first month of the new fiscal year. CEO Mishra informed that the banks have insured Rs 80 billion debtors by mid-August. </span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-30',
			'modified' => '2020-08-30',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12143',
			'image' => '20200830030955_bank-getty.jpg',
			'article_date' => '2020-08-30 15:08:50',
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		'Article' => array(
			'id' => '12395',
			'article_category_id' => '1',
			'title' => 'Weak Vigilance Against Covid-19 in Bara-Parsa Industrial Corridor',
			'sub_title' => 'Government directs industries to arrange quarantine facility for workers inside the industry',
			'summary' => 'August 30: The local authorities in Bara and Parsa have instructed industries in the industrial corridor to mandatorily arrange quarantine facilities for their workers in order to run the industry. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">August 30: The local authorities in Bara and Parsa have instructed industries in the industrial corridor to mandatorily arrange quarantine facilities for their workers in order to run the industry. </span></span></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">Chief District Officer of Parsa, Asman Tamang, informed that the District Security Committee and the District Disaster Management Center have decided to allow industries to operate by mandatorily arranging quarantine facility for workers.</span></span></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">According to government standards, industry operators should run the industry by managing quarantine for workers to prevent the spread of coronavirus infection. However, Chief District Officer Tamang informed that the industries have not been strictly following the guidelines due to which they have stepped up monitoring. </span></span></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">&nbsp;&ldquo;We are also coordination with the administration of the neighboring district of Bara for full implementation of security vigilance against Covid-19. Industries will be strictly told to follow the rules,&rdquo; he informed NBA.</span></span></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 local authority in Parsa has mandated the industrial establishments to make arrangements for quarantine facility for the workers within the premises of the respective industry due to the surge of the virus amont the workers. </span></span></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">&ldquo;In case the industries are unable to manage quarantine facility within the industry, the workers should be kept away from the contact of the community even if the quarantine facility is outside the industry,&rdquo; the authorities said in a circular.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-08-30',
			'modified' => '2020-09-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12142',
			'image' => '20200830020949_1598735616.2.jpg',
			'article_date' => '2020-08-30 14:09:10',
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		'Article' => array(
			'id' => '12394',
			'article_category_id' => '1',
			'title' => 'Government Preparing to Ban Import of Aircraft Manufactured More than 12 Years Ago',
			'sub_title' => '',
			'summary' => 'August 30: The government is preparing to enforce a ban on purchase of aircraft older than 12 years by any commercial airliner. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 30: The government is preparing to enforce a ban on purchase of aircraft older than 12 years by any commercial airliner. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A draft of the new aviation policy prepared by the Ministry of Culture, Tourism and Civil Aviation states that any aircraft older than 12 years or those with 50 percent economic life or the ones that have completed 35,000 pressurization cycles would not be allowed to operate 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:&quot;Arial Unicode MS&quot;">Prior to this, the aviation policy of Nepal allowed commercial airliners to purchase aircraft that were manufactured 15 years ago.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private airline companies of Nepal have welcomed most of the provisions of the new aviation policy but have expressed their reservation regarding the provision to ban the import of aircraft older than 12 years. They are preparing to submit a letter of dissent to the ministry soon.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Managing Director of Buddha Air, Birendra Bahadur Basnet, says that the new provision is unnecessary. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We do not agree with the provision that bars us from purchasing aircraft manufactured more than&nbsp; 12 years ago because the age of an aircraft depends on its nature and maintenance. Therefore, this provision is not necessary,&rdquo; says Basnet.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In the new policy, the ministry has proposed exemption of income tax for give years for the investors who invest more than Rs 2 billion in the aviation sector 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:&quot;Arial Unicode MS&quot;">Likewise, the government has also proposed waiving 100 percent customs duty on the purchase of aircraft manufactured less than five years ago. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Also, the government plans to provide concession in income tax for three years if the airline companies operate new aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Culture, Tourism and Civil Aviation is seeking feedback from stakeholders regarding the new policy. The government has drafted this new policy after 14 years.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'description' => '',
			'sortorder' => '12141',
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		'Article' => array(
			'id' => '12393',
			'article_category_id' => '1',
			'title' => ''Almost 40 Percent of Commercial Shops in Kathmandu Vacated' ',
			'sub_title' => '',
			'summary' => 'ugust 28: Rental spaces in prime commercial areas of Kathmandu are going vacant due to the crisis caused by coronavirus. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 28: Rental spaces in prime commercial areas of Kathmandu are going vacant due to the crisis caused by coronavirus. Shops in&nbsp; down town Kathmandu are closing due to the impact of the four-month long lockdown and the ongoing restriction on public movement imposed by the government to contain the spread of the that has infected more than 35,000 persons in the country.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to an informal estimate, almost forty percent of the shops in the capital have already been vacated by the owners because of the decline in business due to Covid-19.</span></span></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">New Road, Asan, Indrachowk, Thamel, Koteshwor, Baneshwor, Chabahil, which are considered as the main business hubs of Kathmandu are witnessing an unprecedented crisis. Shops in the inner parts of the city have also been vacated. </span></span></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">According to entrepreneurs, the increase in the number of coronaviruses cases in the valley has led to a spike in the number of shops and rental areas being vacated as an economic activities have come to a halt.</span></span></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">Thamel, in particular, has the majority of rental space for commercial use in Kathmandu and is witnessing the highest number shops being vacated.</span></span></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">Bhavishwar Sharma, vice-chairman of the Thamel Tourism Development Board, informed that around 700 entrepreneurs have vacated their shops and flats in Thamel so far.</span></span></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 informed New Business Age that the upper floors of the houses used for tourism business and office purpose have also been vacated.</span></span></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">Sharma estimates that there are around 10,000 rooms rented by tourism entrepreneurs in the area around Thamel. Those are basically used as hotels, restaurants, travel agencies, money exchanges, and handicraft shops. </span></span></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 informed that tourism entrepreneurs in Thamel pay between Rs 15,000 to Rs 4.5 million per month as rental charge depending on the location and size of the commercial space.</span></span></span></span></p>

<p>&nbsp;</p>
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12140',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12391',
			'article_category_id' => '1',
			'title' => 'Industrialist Binod Chaudhary Tests Positive for Covid-19',
			'sub_title' => '',
			'summary' => 'August 28: Nepal’s business tycoon Binod Chaudhary has tested positive for Covid-19.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Nepal&rsquo;s business tycoon Binod Chaudhary has tested positive for Covid-19.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The billionaire industrialist took to social media on Friday (August 28) to make the announcement.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed his well wishers and friends through a tweet that the result of his PCR test came positive &ldquo;this morning&rdquo;. He further said that he has no symptoms so far and also urged everyone who came in contact with him to take &ldquo;all possible precautions&rdquo;.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;He further said that he has isolated himself as per the doctor&rsquo;s advise.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Chaudhary is the founder of Chaudhary Group of Industries and is renowned for his popular product &ndash; Wai Wai.</span></span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/binod%20chaudyary.jpg" style="height:201px; width:800px" /></span></p>
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12139',
			'image' => '20200828032441_1598602951.binod_chaudhary_cg_group.jpg',
			'article_date' => '2020-08-28 15:23:31',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12392',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops by Rs 700 per 11 Grams',
			'sub_title' => '',
			'summary' => 'August 28: The price of gold has dropped by Rs 700 per 11 grams on Friday.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: The price of gold has dropped by Rs 700 per 11 grams on Friday. The price of gold is fluctuating in the domestic market of Nepal due to the fluctuation in price in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, fine gold is being traded for Rs 96,900 per tola (11 grams ) on Friday. The price of gold was Rs 97,600 on Thursday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, silver is being traded for Rs 1340 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The uncertainty caused by coronavirus had resulted in skyrocketing of gold price in the international market until a few weeks ago. Nepal was not an exception as investors started making heavy investment in gold. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold had crossed the 100,000 mark in Nepal just a few weeks 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:&quot;Arial Unicode MS&quot;">However, the price has been declining ever since Russia announced a vaccine for coronavirus some time ago.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12390',
			'article_category_id' => '1',
			'title' => 'Revenue Collection Suffers Setback Again ',
			'sub_title' => '',
			'summary' => 'August 28: Revenue collection has suffered a setback again due to the prohibitory order issued by local governments in various districts across the country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Revenue collection has suffered a setback again due to the prohibitory order issued by local governments in various districts across the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had just started making some progress in revenue collection after the four-month long lockdown was lifted a month ago when the new restrictions played the spoilsport.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Revenue officials said they were close to meeting the target of revenue collection after the lockdown was lifted on July 21. But the imposition of prohibitory order in the capital and other districts where major industries are located once again prevented the Inland Revenue Department from meeting its target.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Before the prohibitory orders were imposed, the revenue collection was around Rs 2 billion per day. But it took a nosedive after the restrictions were announced by the local governments. Revenue offices under the IRD are struggling to collect Rs 1 billion per day at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Director General of IRD Binod Bahadur Kunwar, revenue collection has been hampered because people are not able to come out of their homes while the revenue offices are also not able to operate 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:&quot;Arial Unicode MS&quot;">&ldquo;We are not even able to collect revenue worth Rs 300 million per day,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Even the customs department has failed to collect revenue as the northern border remains closed while there is limited entry of goods from the Nepal-India border. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The prohibitory order has affected industrial works and therefore the import of raw materials has also declined. This is one of the major reasons for the decline in revenue collection,&rdquo; said a high-ranking revenue official requesting anonymity.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12387',
			'article_category_id' => '1',
			'title' => 'Police Crack Down on Online Delivery Service',
			'sub_title' => '65 Arrested for Delivering Non-Essential Goods  ',
			'summary' => 'August 28: Police on Thursday took action against e-commerce companies that have been providing online delivery service for violating the prohibitory order.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Police on Thursday took action against e-commerce companies that have been providing online delivery service for violating the prohibitory order.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police also took the operators and staffers of such companies in custody in a crackdown that began on August 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:&quot;Arial Unicode MS&quot;">The operators of the e-commerce companies were later released in the evening under the condition that they would suspend their service while the prohibitory order is in force.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The operators of the companies were arrested from their offices while the staffers were taken under control while they were delivering essential goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Different teams of police on Thursday (August 27) arrested 65 staffers of the e-commerce companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police took action against the staffers of Foodmandu, Foodmario, Bhojdeal, UG Cakes, Pathao among other e-commerce companies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The e-commerce companies complained that the police arrested their operators and staffers despite the government&rsquo;s announcement to allow essential services like delivery of medicines, food, gas, petroleum products, vegetables and fruits among others. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Issuing a joint statement on Thursday, stakeholders of the e-commerce companies said that the police action was against the circular issued by the chief district officers of the three districts of Kathmandu Valley while announcing the prohibitory order.</span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/34108613_597288377313327_4261298553445416960_n.jpg" style="height:480px; width:482px" /></p>

<p><em>Nikita Acharya, operator of UG Cakes in this picture taken from Facebook.</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Operator of UG Cakes, Nikita Acharya, informed New Business Age that she and her staffers were arrested from their office at around 5 pm on Thursday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, operator of Foodmandu Manohar Adhikari said that seven of their staffers were arrested while they were delivering food. He said that the police then called them to the station and warned them not to operate their business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sailesh Lohani, the proprietor of Socheko, said that the police told them not to provide service after 9 am.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the police said that they took action against the e-commerce companies because they were not providing essential services.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government has ordered additional measures during prohibitory order from Wednesday onwards. The local authorities have banned all other services except essential ones. We took action against the online companies because they were not providing essential services,&rdquo; said police officer Somendra Singh Thakur. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We took action against those delivering pizza, mo:mo, cakes. These do not fall under essential services,&rdquo; said Thakur.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12388',
			'article_category_id' => '1',
			'title' => 'Prohibitory Order More Hazardous to Industries than Lockdown',
			'sub_title' => '',
			'summary' => 'August 28: Entrepreneurs and industrialists say that the recent prohibitory order issued on August 19 has affected their businesses much more than the four-month lockdown imposed by the government on March 24.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Entrepreneurs and industrialists say that the recent prohibitory order issued on August 19 has affected their businesses much more than the four-month lockdown imposed by the government on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They claim that 75 percent of their businesses have come to a halt due to lack of consumption and production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The lockdown imposed by the government on March 24 was lifted almost after four months on July 21. During the lockdown period, the government had decided on May 8 to allow 44 different industries to resume operation. Those industries had slowly started returning back to business. They had increased their production capacity after the government eased the restriction. But now, they are facing the same problem once again.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior Vice President of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) Shekhar Golchha says that the industries that were slowly returning to normalcy have again suffered another setback. He agreed that prohibitory order was necessary due to the high risk of infection but said closing industries is not a solution to the problem.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Operating businesses and industries has risk of spreading infection while closing them threatens the economy. Therefore, it is essential to reopen businesses and industries by adopting safety measures and high alertness,&rdquo; says Golchha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Golchha says although some industries are manufacturing essential goods, they are facing problems in transporting the products to the market. Lack of market means they are forced to stop production. In such a scenario, Golchha fears that many industries will become bankrupt if the current situation persists any longer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Senior Vice President of Nepal Chamber of Commerce, Rajendra Malla, says that 40 percent industries were operating in June/July but now almost all of them are closed. He said that economic activities have almost come to a complete halt.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He was of the view that it is essential to stop the spread of coronavirus but at the same time the government must also facilitate in reopening industries and businesses.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other industrialists say that lack of raw materials due to transportation problem has forced them to downsize their production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bishnu Neupane, chairman of Saurav Group, which manufactures cement and iron, says they are operating at 15 percent capacity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Industrialists complain that although the federal government has pledged not to halt the transportation service for essential goods,&nbsp; including raw materials for industries, the provincial and local governments have been obstructing vehicular movement upon confirmation of coronavirus cases in their respective areas.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Neupane says that the government has not banned production in industries but complained that the authorities do not facilitate them in sales and supply of their products.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12389',
			'article_category_id' => '1',
			'title' => 'Industrial Corridors Hit Hard by Prohibitory Order ',
			'sub_title' => '',
			'summary' => 'August 28: The production of the nation’s major industrial corridors has shrunk due to the prohibitory order imposed by the government to control the spread of coronavirus infection.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 28: The production of the nation&rsquo;s major industrial corridors has shrunk due to the prohibitory order imposed by the government to control the spread of coronavirus infection. The industrial activities, that were returning to normalcy after the government last month lifted the four-month long lockdown, has slowed down recently. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Prohibitory orders have now been imposed in more than 50 districts due to the increase in the number of coronavirus cases. Entrepreneurs say that production has declined as both the center of production and the major markets have been affected. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Subodh Kumar Gupta, senior vice president of Birgunj Chamber of Commerce, informed that the production of most of the industries in Bara-Parsa industrial corridor has dropped below 25 percent of their capacity. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similar is the condition of Sunsari-Morang industrial corridor. Entrepreneurs say that they have had to cut off 40 percent production capacity after the prohibitory order was imposed following an increase in number of infection in major commercial cities such as Biratnagar, Itahari, Dharan, Damak, and Birtamode of Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They further say that the workers in the industries of Sunsari-Morang industrial corridor have stopped coming to work after the infection started appearing among the workers. On one hand, there is fear of infection, and on the other hand the production of the industries has been affected as the workers have stopped coming to the work. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12386',
			'article_category_id' => '1',
			'title' => 'Eight Years on, Metro Rail Remains a Pipedream for Kathmanduites',
			'sub_title' => '',
			'summary' => 'August 27: It has been eight years since the government completed feasibility study of metro rail at five different places of the capital, Kathmandu.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 27: It has been eight years since the government completed feasibility study of metro rail at five different places of the capital, Kathmandu. However, investment for the project is yet to be finalized.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People&rsquo;s representatives of Kathmandu Metropolitan City as well as the government have been making announcements publicly about setting up the metro &nbsp;rail in five different routes in the capital but the preparation for seeking investment for the project has been limited only to discussions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In 2012, the feasibility study had outlined the possibility of operating metro rail across different areas covering a total distance of 87.18 kilometers. Those routes include Chobhar-Satdobato-Ratna Park-Narayan Gopal Chowk-Buddhanilkantha (22 kilometers), Kirtipur-Kalimati-New Baneshwar-Airport (11.15 kilometers), Koteshwar-Chabahil-Swayambhu (28.53 kilometers), Swayambhu-Dillibazar-Bouddha (11.70 kilometers), and Dhobighat-Singha Durbar-Gongabu (13.80 kilometers).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Railways has so far selected a consultant company for preparing the Detailed Project Report (DPR) of Narayan Gopal Chowk-Satdobato section of Chobhar-Satdobato-Ratna Park-Narayan Gopal Chowk-Buddhanilkantha route.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The consultant company was supposed to submit its report within eight months but it has been delayed due to the Covid-19 crisis, informed Director General of the department Balaram 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:&quot;Arial Unicode MS&quot;">He further said that the concerned authorities have not held any discussions regarding the establishment of metro rail along the other routes.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 11 => array(
		'Article' => array(
			'id' => '12385',
			'article_category_id' => '1',
			'title' => 'CAAN Preparing to Resume International Flights Soon',
			'sub_title' => '',
			'summary' => 'August 27: The Civil Aviation Authority of Nepal (CAAN) is making preparations to resume regular flights from September. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 27: The Civil Aviation Authority of Nepal (CAAN) is making preparations to resume regular flights from September. </span></span></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 Ministry of Culture, Tourism, and Civil Aviation as well as CAAN have published the schedule for international flights beginning from September 2. CAAN is making necessary preparations for flight operation safe as per the WHO and ICAO safety protocols.</span></span></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 ministry on August 26 directed CAAN to resume international flights, including regular and chartered flights. However, public health protocols listed by UN agencies and development partners has to be followed while operating the flights.</span></span></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">CAAN spokesperson Raj Kumar Chhetri informed that the aviation regulatory body has started necessary preparations in coordination with all stakeholders for resuming regular flights. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The flights are taking place. However, the government has decided to operate daily flights from September 2,&rdquo; he informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">CAAN will adopt various safety standards including time gap between each flight as well as limited number of passengers to avoid the spread of Covid-19. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&ldquo;Airline operators have been preparing their flight plans following the guidelines of the International Civil Aviation Organization (ICAO), World Health Organization (WHO) and CAAN. Airlines also have their own protocols,&rdquo; Chhetri added.</span></span></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">Currently, only chartered flights are allowed to operate mainly for the repatriation of stranded citizens and to bring medical supplies.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 12 => array(
		'Article' => array(
			'id' => '12384',
			'article_category_id' => '1',
			'title' => 'Automobile Business Slumps during Peak Season',
			'sub_title' => '',
			'summary' => 'August 27: The automobile business, which is more vibrant between August to November, has collapsed this year.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 27: The automobile business, which is more vibrant between August to November, has collapsed this year. In the previous years, the automobile operators had a turnover of more than Rs 10 billion during this time period. However, due to the coronavirus pandemic and prohibitory order, this sector is struggling to sustain the business this year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">In August, the automobile sector used to be active in the previous years. The automobile dealers used to be busy preparing for NADA Auto Show, Dashain scheme and other programmes. Every year in August, before the arrival of Dashain, the Automobile Association of Nepal (NADA) used to organized the NADA Auto Show. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to NADA chairman Krishna Prasad Dulal, the auto show used to run the automobile business till Dashain. However, due to the pandemic, the auto show will not be held this year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The officials of NADA say that the automobile companies have no plans to come up with any discounts and schemes for Dashain due to the increasing infection and prohibitory order. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the companies, although the sales of four-wheelers were null during the lockdown, the sales of two &ndash;wheelers and four-wheelers were increasing. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The companies had expected some relief from the NADA Auto Show, but the prohibitory order has played the spoilsport. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Dulal says that the automobile entrepreneurs, who used to have transaction of around Rs 5 billion till Dashain in the previous years, have been seriously affected this year. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;NADA will not happen, but we can&rsquo;t say what will happen during Dashain without analyzing the upcoming situation,&rdquo; he said, adding, &ldquo;If the government does not lift the restriction on automobile sales, the businessmen will have to abandon their business.&rdquo; </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 13 => array(
		'Article' => array(
			'id' => '12383',
			'article_category_id' => '1',
			'title' => 'Loan Accounts of Finance Companies and Development Banks Declining',
			'sub_title' => '',
			'summary' => 'August 27: Bankers believe that the reason for the decrease in the loan account of ‘B’ and ‘C’ class finance companies is the mergers and acquisitions of finance companies and development banks by commercial banks.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 27: Bankers believe that the reason for the decrease in the loan account of &lsquo;B&rsquo; and &lsquo;C&rsquo; class finance companies is the mergers and acquisitions of finance companies and development banks by commercial banks. There had been a merger between Gandaki Bikas Bank and Mega Bank some time ago. In addition to that, Kumari Bank and Deva Bikas Bank have also merged and started integrated transaction.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Commercial banks, which were not able to flow any new credit in the last 3 months (Chaitra, Baishak and Jestha) have given more than 45 thousand loans in Ashad (mid-June to mid-July). The total number of loans given by the 27 commercial banks was 1.15 million at the end of Jestha (mid-June) whereas it became 1.19 million by the end of Ashad (mid-July). However, the number of loans given has decreased for development banks and finance companies in the same period of time.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-08-27%20at%202.09.34%20PM.png" style="height:347px; width:1023px" /></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the data from Nepal Rastra Bank, the total loan account of the 20 development banks has decreased by 26,755 in the month of Ashad.&nbsp; The account that totaled 329,000 in Jestha (mid-May to mid-June) has become 320,000 in Ashad (mid-June to mid-July). However, Pradhyumna Pokharel, the senior vice-president of Nepal Development Bankers&rsquo; Association, says that the loans of development banks haven&rsquo;t been transferred by much to commercial banks. According to him, the mergers and acquisitions between development banks and commercial banks is the reason for the decrease in the number of loan account.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The loan account of the &lsquo;C&rsquo; class finance companies has also declined. The loan account of the total 22 finance companies has decreased by 160 in the month of Ashad (mid-June to mid-July). The loan account totaled to 45,489 in the month of Jestha (mid-May to mid-June). Saroj Kaji Tuladhar, the president of Nepal Financial Institutions Association, claimed that some of the debtors have moved to commercial banks because of the low-interest rate loan schemes introduced by the commercial banks due to the high liquidity in banks.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Tuladhar, who is also the CEO of Goodwill Finance, said that the interest rates on loans range from 10 percent to 15 percent in finance companies. However, commercial banks are competing for debtors by stating their interest rates as low as 7 percent. He added that some debtors have made a prepayment of their loans because of the lack of business due to the extended lockdown. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Some debtors have searched for cheaper interest rates and swapped their loans. Some of them have paid off their loan using the money they have. There have been no new applications for loan. Therefore, the loan accounts of finance companies have decreased,&rdquo; he said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The interest rates on loans had decreased by about 2 percent after the banks implemented a single digit base rate from Ashad (mid-June to mid-July). They have also brought schemes that provide a discount on the interest of loans as a relief for those affected by coronavirus. Bankers claim that despite the decline in the interest rates due to the high liquidity, the credit flow has improved a bit. Commercial banks had distributed a loan of &nbsp;Rs 86 billion between mid-June to mid-July last year. The credit flow of the commercial banks was negative during Baisakh and Jestha (between mid-April to mid-June) because of the absence of the flow of new credit.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Chemical Fertilizers Finally Arrive in Birgunj',
			'sub_title' => '',
			'summary' => 'August 27: Chemical fertilizers that were stranded in Indian ports since the last five months have finally arrived at Birgunj Dry Port. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 27: Chemical fertilizers that were stranded in Indian ports since the last five months have finally arrived at Birgunj Dry Port. Government authorities confirmed that 2,600 metric tons of urea have arrived at Birgunj from Kolkata Port. The fertilizers were sent from Kolkata last week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Salt Trading Corporation has been storing 32,000 metric tons of fertilizers at Kolkata Port. It includes 21,500 tons of fertilizers of last fiscal year and 10,500 metric tons for the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the regional office of Salt Trading Corporation, Birgunj, Amoj Lamichhane informed New Business Age that the urea will be provided to the farmers after customs clearance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The fertilizers are in the process of entering in Nepal. All the fertilizers at Kolkata will reach Nepal within a few days,&rdquo; said Lamichhane. The Birgunj office of Salt Trading Corporation supplies fertilizers to 19 districts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Besides the consignment of 2600 metric tons of urea which arrived at Birgunj through railways, an additional 3900 metric tons of urea have been sent to Nepal through road, according to Laxman Khadka, chief of the Kolkata-based Nepal Transshipment and Warehouse Management 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:&quot;Arial Unicode MS&quot;">Some of the fertilizers sent through road have entered Nepal through Biratnagar customs point.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers are facing shortage of chemical fertilizers due to the delay in supplying the fertilizers during plantation season by the Salt Trading Corporation and Krishi Samagri Company &ndash; the two state-owned companies assigned to oversee the supply of fertilizers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The fertilizers were stuck at a port in Gujrat for four months before finally arriving at Kolkata port about two weeks 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:&quot;Arial Unicode MS&quot;">Salt Trading Corporation had purchased the chemical fertilizers from Dubai-based Multi Commodities before the lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The total demand for urea this season is 30,000 metric tons.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers require urea after plantation of paddy. &nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12396',
			'article_category_id' => '1',
			'title' => 'Insurance on Deposits and Loans Increasing',
			'sub_title' => '',
			'summary' => 'August 30: Insurance on deposits and loans has increased in the Deposit and Credit Guarantee Fund. ',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 30: Insurance on deposits and loans has increased in the Deposit and Credit Guarantee Fund. The fund shows that insurance on the deposits of 638,000 depositors has been done within the fiorst month of the current fiscal year (mid-July to mid-August).</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Bishnu Babu Mishra, the chief executive officer (CEO) of the fund, informed that the number of insurances on deposits have increased in the review period.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">He stated that the reason behind this is the distribution of the branches of banks all over the country.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The savings, current, call and term deposits of 26.64 million persons in all banks and finance companies have been insured in between mid-July to mid-August. The fund had insured deposits worth Rs 689.49 billion in 26 million accounts of the 72 banks and finance companies till mid-July.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Similarly, deposits worth Rs 603.39 billion in 2.2 million accounts were insured during the corresponding period of last fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-08-30%20at%203.07.29%20PM.png" style="height:311px; width:800px" /></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deposits totaling to Rs 713.2 billion of 26.66 million depositors have been protected because of the insurance done by the banks and finance companies. Furthermore, loans totaling to Rs 80 billion taken by 899,000 debtors have also been insured.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The fund has been providing protection to savings or term account holders that have deposits up to 300,000, since October/November 2018.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Protection was given for up to 200,000 in deposits before this. According to the provision of Nepal Rastra Bank, a protection of maximum 300,000 can be given on the savings and term accounts of a depositor. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The fund has also been providing protection of maximum Rs 20 million for loans on SME and agricultural loans and protection of maximum Rs 1.5 million for deprived sector lending to banks and finance companies.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Deposit and Credit Guarantee Fund has insured additional 1.1 million accounts of banks and finance companies within the first month of the new fiscal year. CEO Mishra informed that the banks have insured Rs 80 billion debtors by mid-August. </span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '12143',
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			'id' => '12395',
			'article_category_id' => '1',
			'title' => 'Weak Vigilance Against Covid-19 in Bara-Parsa Industrial Corridor',
			'sub_title' => 'Government directs industries to arrange quarantine facility for workers inside the industry',
			'summary' => 'August 30: The local authorities in Bara and Parsa have instructed industries in the industrial corridor to mandatorily arrange quarantine facilities for their workers in order to run the industry. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">August 30: The local authorities in Bara and Parsa have instructed industries in the industrial corridor to mandatorily arrange quarantine facilities for their workers in order to run the industry. </span></span></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">Chief District Officer of Parsa, Asman Tamang, informed that the District Security Committee and the District Disaster Management Center have decided to allow industries to operate by mandatorily arranging quarantine facility for workers.</span></span></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">According to government standards, industry operators should run the industry by managing quarantine for workers to prevent the spread of coronavirus infection. However, Chief District Officer Tamang informed that the industries have not been strictly following the guidelines due to which they have stepped up monitoring. </span></span></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">&nbsp;&ldquo;We are also coordination with the administration of the neighboring district of Bara for full implementation of security vigilance against Covid-19. Industries will be strictly told to follow the rules,&rdquo; he informed NBA.</span></span></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 local authority in Parsa has mandated the industrial establishments to make arrangements for quarantine facility for the workers within the premises of the respective industry due to the surge of the virus amont the workers. </span></span></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">&ldquo;In case the industries are unable to manage quarantine facility within the industry, the workers should be kept away from the contact of the community even if the quarantine facility is outside the industry,&rdquo; the authorities said in a circular.</span></span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '12142',
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		'Article' => array(
			'id' => '12394',
			'article_category_id' => '1',
			'title' => 'Government Preparing to Ban Import of Aircraft Manufactured More than 12 Years Ago',
			'sub_title' => '',
			'summary' => 'August 30: The government is preparing to enforce a ban on purchase of aircraft older than 12 years by any commercial airliner. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 30: The government is preparing to enforce a ban on purchase of aircraft older than 12 years by any commercial airliner. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A draft of the new aviation policy prepared by the Ministry of Culture, Tourism and Civil Aviation states that any aircraft older than 12 years or those with 50 percent economic life or the ones that have completed 35,000 pressurization cycles would not be allowed to operate 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:&quot;Arial Unicode MS&quot;">Prior to this, the aviation policy of Nepal allowed commercial airliners to purchase aircraft that were manufactured 15 years ago.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private airline companies of Nepal have welcomed most of the provisions of the new aviation policy but have expressed their reservation regarding the provision to ban the import of aircraft older than 12 years. They are preparing to submit a letter of dissent to the ministry soon.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Managing Director of Buddha Air, Birendra Bahadur Basnet, says that the new provision is unnecessary. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We do not agree with the provision that bars us from purchasing aircraft manufactured more than&nbsp; 12 years ago because the age of an aircraft depends on its nature and maintenance. Therefore, this provision is not necessary,&rdquo; says Basnet.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In the new policy, the ministry has proposed exemption of income tax for give years for the investors who invest more than Rs 2 billion in the aviation sector 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:&quot;Arial Unicode MS&quot;">Likewise, the government has also proposed waiving 100 percent customs duty on the purchase of aircraft manufactured less than five years ago. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Also, the government plans to provide concession in income tax for three years if the airline companies operate new aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Culture, Tourism and Civil Aviation is seeking feedback from stakeholders regarding the new policy. The government has drafted this new policy after 14 years.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12393',
			'article_category_id' => '1',
			'title' => ''Almost 40 Percent of Commercial Shops in Kathmandu Vacated' ',
			'sub_title' => '',
			'summary' => 'ugust 28: Rental spaces in prime commercial areas of Kathmandu are going vacant due to the crisis caused by coronavirus. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 28: Rental spaces in prime commercial areas of Kathmandu are going vacant due to the crisis caused by coronavirus. Shops in&nbsp; down town Kathmandu are closing due to the impact of the four-month long lockdown and the ongoing restriction on public movement imposed by the government to contain the spread of the that has infected more than 35,000 persons in the country.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to an informal estimate, almost forty percent of the shops in the capital have already been vacated by the owners because of the decline in business due to Covid-19.</span></span></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">New Road, Asan, Indrachowk, Thamel, Koteshwor, Baneshwor, Chabahil, which are considered as the main business hubs of Kathmandu are witnessing an unprecedented crisis. Shops in the inner parts of the city have also been vacated. </span></span></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">According to entrepreneurs, the increase in the number of coronaviruses cases in the valley has led to a spike in the number of shops and rental areas being vacated as an economic activities have come to a halt.</span></span></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">Thamel, in particular, has the majority of rental space for commercial use in Kathmandu and is witnessing the highest number shops being vacated.</span></span></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">Bhavishwar Sharma, vice-chairman of the Thamel Tourism Development Board, informed that around 700 entrepreneurs have vacated their shops and flats in Thamel so far.</span></span></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 informed New Business Age that the upper floors of the houses used for tourism business and office purpose have also been vacated.</span></span></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">Sharma estimates that there are around 10,000 rooms rented by tourism entrepreneurs in the area around Thamel. Those are basically used as hotels, restaurants, travel agencies, money exchanges, and handicraft shops. </span></span></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 informed that tourism entrepreneurs in Thamel pay between Rs 15,000 to Rs 4.5 million per month as rental charge depending on the location and size of the commercial space.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12391',
			'article_category_id' => '1',
			'title' => 'Industrialist Binod Chaudhary Tests Positive for Covid-19',
			'sub_title' => '',
			'summary' => 'August 28: Nepal’s business tycoon Binod Chaudhary has tested positive for Covid-19.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Nepal&rsquo;s business tycoon Binod Chaudhary has tested positive for Covid-19.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">The billionaire industrialist took to social media on Friday (August 28) to make the announcement.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed his well wishers and friends through a tweet that the result of his PCR test came positive &ldquo;this morning&rdquo;. He further said that he has no symptoms so far and also urged everyone who came in contact with him to take &ldquo;all possible precautions&rdquo;.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;He further said that he has isolated himself as per the doctor&rsquo;s advise.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:&quot;Arial Unicode MS&quot;">Chaudhary is the founder of Chaudhary Group of Industries and is renowned for his popular product &ndash; Wai Wai.</span></span></span></p>

<p><span style="font-size:20px"><img alt="" src="/app/webroot/userfiles/images/binod%20chaudyary.jpg" style="height:201px; width:800px" /></span></p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12392',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops by Rs 700 per 11 Grams',
			'sub_title' => '',
			'summary' => 'August 28: The price of gold has dropped by Rs 700 per 11 grams on Friday.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: The price of gold has dropped by Rs 700 per 11 grams on Friday. The price of gold is fluctuating in the domestic market of Nepal due to the fluctuation in price in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, fine gold is being traded for Rs 96,900 per tola (11 grams ) on Friday. The price of gold was Rs 97,600 on Thursday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, silver is being traded for Rs 1340 per 11 grams.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The uncertainty caused by coronavirus had resulted in skyrocketing of gold price in the international market until a few weeks ago. Nepal was not an exception as investors started making heavy investment in gold. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold had crossed the 100,000 mark in Nepal just a few weeks 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:&quot;Arial Unicode MS&quot;">However, the price has been declining ever since Russia announced a vaccine for coronavirus some time ago.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'id' => '12390',
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			'title' => 'Revenue Collection Suffers Setback Again ',
			'sub_title' => '',
			'summary' => 'August 28: Revenue collection has suffered a setback again due to the prohibitory order issued by local governments in various districts across the country.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Revenue collection has suffered a setback again due to the prohibitory order issued by local governments in various districts across the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had just started making some progress in revenue collection after the four-month long lockdown was lifted a month ago when the new restrictions played the spoilsport.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Revenue officials said they were close to meeting the target of revenue collection after the lockdown was lifted on July 21. But the imposition of prohibitory order in the capital and other districts where major industries are located once again prevented the Inland Revenue Department from meeting its target.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Before the prohibitory orders were imposed, the revenue collection was around Rs 2 billion per day. But it took a nosedive after the restrictions were announced by the local governments. Revenue offices under the IRD are struggling to collect Rs 1 billion per day at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Director General of IRD Binod Bahadur Kunwar, revenue collection has been hampered because people are not able to come out of their homes while the revenue offices are also not able to operate 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:&quot;Arial Unicode MS&quot;">&ldquo;We are not even able to collect revenue worth Rs 300 million per day,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Even the customs department has failed to collect revenue as the northern border remains closed while there is limited entry of goods from the Nepal-India border. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The prohibitory order has affected industrial works and therefore the import of raw materials has also declined. This is one of the major reasons for the decline in revenue collection,&rdquo; said a high-ranking revenue official requesting anonymity.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12387',
			'article_category_id' => '1',
			'title' => 'Police Crack Down on Online Delivery Service',
			'sub_title' => '65 Arrested for Delivering Non-Essential Goods  ',
			'summary' => 'August 28: Police on Thursday took action against e-commerce companies that have been providing online delivery service for violating the prohibitory order.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Police on Thursday took action against e-commerce companies that have been providing online delivery service for violating the prohibitory order.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police also took the operators and staffers of such companies in custody in a crackdown that began on August 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:&quot;Arial Unicode MS&quot;">The operators of the e-commerce companies were later released in the evening under the condition that they would suspend their service while the prohibitory order is in force.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The operators of the companies were arrested from their offices while the staffers were taken under control while they were delivering essential goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Different teams of police on Thursday (August 27) arrested 65 staffers of the e-commerce companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Police took action against the staffers of Foodmandu, Foodmario, Bhojdeal, UG Cakes, Pathao among other e-commerce companies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The e-commerce companies complained that the police arrested their operators and staffers despite the government&rsquo;s announcement to allow essential services like delivery of medicines, food, gas, petroleum products, vegetables and fruits among others. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Issuing a joint statement on Thursday, stakeholders of the e-commerce companies said that the police action was against the circular issued by the chief district officers of the three districts of Kathmandu Valley while announcing the prohibitory order.</span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/34108613_597288377313327_4261298553445416960_n.jpg" style="height:480px; width:482px" /></p>

<p><em>Nikita Acharya, operator of UG Cakes in this picture taken from Facebook.</em></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Operator of UG Cakes, Nikita Acharya, informed New Business Age that she and her staffers were arrested from their office at around 5 pm on Thursday.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, operator of Foodmandu Manohar Adhikari said that seven of their staffers were arrested while they were delivering food. He said that the police then called them to the station and warned them not to operate their business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sailesh Lohani, the proprietor of Socheko, said that the police told them not to provide service after 9 am.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the police said that they took action against the e-commerce companies because they were not providing essential services.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government has ordered additional measures during prohibitory order from Wednesday onwards. The local authorities have banned all other services except essential ones. We took action against the online companies because they were not providing essential services,&rdquo; said police officer Somendra Singh Thakur. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We took action against those delivering pizza, mo:mo, cakes. These do not fall under essential services,&rdquo; said Thakur.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12388',
			'article_category_id' => '1',
			'title' => 'Prohibitory Order More Hazardous to Industries than Lockdown',
			'sub_title' => '',
			'summary' => 'August 28: Entrepreneurs and industrialists say that the recent prohibitory order issued on August 19 has affected their businesses much more than the four-month lockdown imposed by the government on March 24.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 28: Entrepreneurs and industrialists say that the recent prohibitory order issued on August 19 has affected their businesses much more than the four-month lockdown imposed by the government on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They claim that 75 percent of their businesses have come to a halt due to lack of consumption and production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The lockdown imposed by the government on March 24 was lifted almost after four months on July 21. During the lockdown period, the government had decided on May 8 to allow 44 different industries to resume operation. Those industries had slowly started returning back to business. They had increased their production capacity after the government eased the restriction. But now, they are facing the same problem once again.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Senior Vice President of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) Shekhar Golchha says that the industries that were slowly returning to normalcy have again suffered another setback. He agreed that prohibitory order was necessary due to the high risk of infection but said closing industries is not a solution to the problem.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Operating businesses and industries has risk of spreading infection while closing them threatens the economy. Therefore, it is essential to reopen businesses and industries by adopting safety measures and high alertness,&rdquo; says Golchha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Golchha says although some industries are manufacturing essential goods, they are facing problems in transporting the products to the market. Lack of market means they are forced to stop production. In such a scenario, Golchha fears that many industries will become bankrupt if the current situation persists any longer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, Senior Vice President of Nepal Chamber of Commerce, Rajendra Malla, says that 40 percent industries were operating in June/July but now almost all of them are closed. He said that economic activities have almost come to a complete halt.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He was of the view that it is essential to stop the spread of coronavirus but at the same time the government must also facilitate in reopening industries and businesses.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Other industrialists say that lack of raw materials due to transportation problem has forced them to downsize their production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bishnu Neupane, chairman of Saurav Group, which manufactures cement and iron, says they are operating at 15 percent capacity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Industrialists complain that although the federal government has pledged not to halt the transportation service for essential goods,&nbsp; including raw materials for industries, the provincial and local governments have been obstructing vehicular movement upon confirmation of coronavirus cases in their respective areas.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Neupane says that the government has not banned production in industries but complained that the authorities do not facilitate them in sales and supply of their products.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12389',
			'article_category_id' => '1',
			'title' => 'Industrial Corridors Hit Hard by Prohibitory Order ',
			'sub_title' => '',
			'summary' => 'August 28: The production of the nation’s major industrial corridors has shrunk due to the prohibitory order imposed by the government to control the spread of coronavirus infection.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 28: The production of the nation&rsquo;s major industrial corridors has shrunk due to the prohibitory order imposed by the government to control the spread of coronavirus infection. The industrial activities, that were returning to normalcy after the government last month lifted the four-month long lockdown, has slowed down recently. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Prohibitory orders have now been imposed in more than 50 districts due to the increase in the number of coronavirus cases. Entrepreneurs say that production has declined as both the center of production and the major markets have been affected. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Subodh Kumar Gupta, senior vice president of Birgunj Chamber of Commerce, informed that the production of most of the industries in Bara-Parsa industrial corridor has dropped below 25 percent of their capacity. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similar is the condition of Sunsari-Morang industrial corridor. Entrepreneurs say that they have had to cut off 40 percent production capacity after the prohibitory order was imposed following an increase in number of infection in major commercial cities such as Biratnagar, Itahari, Dharan, Damak, and Birtamode of Province 1. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">They further say that the workers in the industries of Sunsari-Morang industrial corridor have stopped coming to work after the infection started appearing among the workers. On one hand, there is fear of infection, and on the other hand the production of the industries has been affected as the workers have stopped coming to the work. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12386',
			'article_category_id' => '1',
			'title' => 'Eight Years on, Metro Rail Remains a Pipedream for Kathmanduites',
			'sub_title' => '',
			'summary' => 'August 27: It has been eight years since the government completed feasibility study of metro rail at five different places of the capital, Kathmandu.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 27: It has been eight years since the government completed feasibility study of metro rail at five different places of the capital, Kathmandu. However, investment for the project is yet to be finalized.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People&rsquo;s representatives of Kathmandu Metropolitan City as well as the government have been making announcements publicly about setting up the metro &nbsp;rail in five different routes in the capital but the preparation for seeking investment for the project has been limited only to discussions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In 2012, the feasibility study had outlined the possibility of operating metro rail across different areas covering a total distance of 87.18 kilometers. Those routes include Chobhar-Satdobato-Ratna Park-Narayan Gopal Chowk-Buddhanilkantha (22 kilometers), Kirtipur-Kalimati-New Baneshwar-Airport (11.15 kilometers), Koteshwar-Chabahil-Swayambhu (28.53 kilometers), Swayambhu-Dillibazar-Bouddha (11.70 kilometers), and Dhobighat-Singha Durbar-Gongabu (13.80 kilometers).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Railways has so far selected a consultant company for preparing the Detailed Project Report (DPR) of Narayan Gopal Chowk-Satdobato section of Chobhar-Satdobato-Ratna Park-Narayan Gopal Chowk-Buddhanilkantha route.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The consultant company was supposed to submit its report within eight months but it has been delayed due to the Covid-19 crisis, informed Director General of the department Balaram 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:&quot;Arial Unicode MS&quot;">He further said that the concerned authorities have not held any discussions regarding the establishment of metro rail along the other routes.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12385',
			'article_category_id' => '1',
			'title' => 'CAAN Preparing to Resume International Flights Soon',
			'sub_title' => '',
			'summary' => 'August 27: The Civil Aviation Authority of Nepal (CAAN) is making preparations to resume regular flights from September. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 27: The Civil Aviation Authority of Nepal (CAAN) is making preparations to resume regular flights from September. </span></span></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 Ministry of Culture, Tourism, and Civil Aviation as well as CAAN have published the schedule for international flights beginning from September 2. CAAN is making necessary preparations for flight operation safe as per the WHO and ICAO safety protocols.</span></span></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 ministry on August 26 directed CAAN to resume international flights, including regular and chartered flights. However, public health protocols listed by UN agencies and development partners has to be followed while operating the flights.</span></span></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">CAAN spokesperson Raj Kumar Chhetri informed that the aviation regulatory body has started necessary preparations in coordination with all stakeholders for resuming regular flights. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&quot;The flights are taking place. However, the government has decided to operate daily flights from September 2,&rdquo; he informed.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">CAAN will adopt various safety standards including time gap between each flight as well as limited number of passengers to avoid the spread of Covid-19. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">&ldquo;Airline operators have been preparing their flight plans following the guidelines of the International Civil Aviation Organization (ICAO), World Health Organization (WHO) and CAAN. Airlines also have their own protocols,&rdquo; Chhetri added.</span></span></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">Currently, only chartered flights are allowed to operate mainly for the repatriation of stranded citizens and to bring medical supplies.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12384',
			'article_category_id' => '1',
			'title' => 'Automobile Business Slumps during Peak Season',
			'sub_title' => '',
			'summary' => 'August 27: The automobile business, which is more vibrant between August to November, has collapsed this year.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">August 27: The automobile business, which is more vibrant between August to November, has collapsed this year. In the previous years, the automobile operators had a turnover of more than Rs 10 billion during this time period. However, due to the coronavirus pandemic and prohibitory order, this sector is struggling to sustain the business this year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">In August, the automobile sector used to be active in the previous years. The automobile dealers used to be busy preparing for NADA Auto Show, Dashain scheme and other programmes. Every year in August, before the arrival of Dashain, the Automobile Association of Nepal (NADA) used to organized the NADA Auto Show. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to NADA chairman Krishna Prasad Dulal, the auto show used to run the automobile business till Dashain. However, due to the pandemic, the auto show will not be held this year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The officials of NADA say that the automobile companies have no plans to come up with any discounts and schemes for Dashain due to the increasing infection and prohibitory order. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the companies, although the sales of four-wheelers were null during the lockdown, the sales of two &ndash;wheelers and four-wheelers were increasing. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The companies had expected some relief from the NADA Auto Show, but the prohibitory order has played the spoilsport. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Dulal says that the automobile entrepreneurs, who used to have transaction of around Rs 5 billion till Dashain in the previous years, have been seriously affected this year. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">&ldquo;NADA will not happen, but we can&rsquo;t say what will happen during Dashain without analyzing the upcoming situation,&rdquo; he said, adding, &ldquo;If the government does not lift the restriction on automobile sales, the businessmen will have to abandon their business.&rdquo; </span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12383',
			'article_category_id' => '1',
			'title' => 'Loan Accounts of Finance Companies and Development Banks Declining',
			'sub_title' => '',
			'summary' => 'August 27: Bankers believe that the reason for the decrease in the loan account of ‘B’ and ‘C’ class finance companies is the mergers and acquisitions of finance companies and development banks by commercial banks.',
			'content' => '<h1><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">August 27: Bankers believe that the reason for the decrease in the loan account of &lsquo;B&rsquo; and &lsquo;C&rsquo; class finance companies is the mergers and acquisitions of finance companies and development banks by commercial banks. There had been a merger between Gandaki Bikas Bank and Mega Bank some time ago. In addition to that, Kumari Bank and Deva Bikas Bank have also merged and started integrated transaction.</span></span></h1>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Commercial banks, which were not able to flow any new credit in the last 3 months (Chaitra, Baishak and Jestha) have given more than 45 thousand loans in Ashad (mid-June to mid-July). The total number of loans given by the 27 commercial banks was 1.15 million at the end of Jestha (mid-June) whereas it became 1.19 million by the end of Ashad (mid-July). However, the number of loans given has decreased for development banks and finance companies in the same period of time.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;"><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-08-27%20at%202.09.34%20PM.png" style="height:347px; width:1023px" /></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">According to the data from Nepal Rastra Bank, the total loan account of the 20 development banks has decreased by 26,755 in the month of Ashad.&nbsp; The account that totaled 329,000 in Jestha (mid-May to mid-June) has become 320,000 in Ashad (mid-June to mid-July). However, Pradhyumna Pokharel, the senior vice-president of Nepal Development Bankers&rsquo; Association, says that the loans of development banks haven&rsquo;t been transferred by much to commercial banks. According to him, the mergers and acquisitions between development banks and commercial banks is the reason for the decrease in the number of loan account.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The loan account of the &lsquo;C&rsquo; class finance companies has also declined. The loan account of the total 22 finance companies has decreased by 160 in the month of Ashad (mid-June to mid-July). The loan account totaled to 45,489 in the month of Jestha (mid-May to mid-June). Saroj Kaji Tuladhar, the president of Nepal Financial Institutions Association, claimed that some of the debtors have moved to commercial banks because of the low-interest rate loan schemes introduced by the commercial banks due to the high liquidity in banks.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">Tuladhar, who is also the CEO of Goodwill Finance, said that the interest rates on loans range from 10 percent to 15 percent in finance companies. However, commercial banks are competing for debtors by stating their interest rates as low as 7 percent. He added that some debtors have made a prepayment of their loans because of the lack of business due to the extended lockdown. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Some debtors have searched for cheaper interest rates and swapped their loans. Some of them have paid off their loan using the money they have. There have been no new applications for loan. Therefore, the loan accounts of finance companies have decreased,&rdquo; he said. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Times New Roman&quot;">The interest rates on loans had decreased by about 2 percent after the banks implemented a single digit base rate from Ashad (mid-June to mid-July). They have also brought schemes that provide a discount on the interest of loans as a relief for those affected by coronavirus. Bankers claim that despite the decline in the interest rates due to the high liquidity, the credit flow has improved a bit. Commercial banks had distributed a loan of &nbsp;Rs 86 billion between mid-June to mid-July last year. The credit flow of the commercial banks was negative during Baisakh and Jestha (between mid-April to mid-June) because of the absence of the flow of new credit.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12382',
			'article_category_id' => '1',
			'title' => 'Chemical Fertilizers Finally Arrive in Birgunj',
			'sub_title' => '',
			'summary' => 'August 27: Chemical fertilizers that were stranded in Indian ports since the last five months have finally arrived at Birgunj Dry Port. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">August 27: Chemical fertilizers that were stranded in Indian ports since the last five months have finally arrived at Birgunj Dry Port. Government authorities confirmed that 2,600 metric tons of urea have arrived at Birgunj from Kolkata Port. The fertilizers were sent from Kolkata last week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Salt Trading Corporation has been storing 32,000 metric tons of fertilizers at Kolkata Port. It includes 21,500 tons of fertilizers of last fiscal year and 10,500 metric tons for the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chief of the regional office of Salt Trading Corporation, Birgunj, Amoj Lamichhane informed New Business Age that the urea will be provided to the farmers after customs clearance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The fertilizers are in the process of entering in Nepal. All the fertilizers at Kolkata will reach Nepal within a few days,&rdquo; said Lamichhane. The Birgunj office of Salt Trading Corporation supplies fertilizers to 19 districts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Besides the consignment of 2600 metric tons of urea which arrived at Birgunj through railways, an additional 3900 metric tons of urea have been sent to Nepal through road, according to Laxman Khadka, chief of the Kolkata-based Nepal Transshipment and Warehouse Management 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:&quot;Arial Unicode MS&quot;">Some of the fertilizers sent through road have entered Nepal through Biratnagar customs point.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers are facing shortage of chemical fertilizers due to the delay in supplying the fertilizers during plantation season by the Salt Trading Corporation and Krishi Samagri Company &ndash; the two state-owned companies assigned to oversee the supply of fertilizers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The fertilizers were stuck at a port in Gujrat for four months before finally arriving at Kolkata port about two weeks 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:&quot;Arial Unicode MS&quot;">Salt Trading Corporation had purchased the chemical fertilizers from Dubai-based Multi Commodities before the lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The total demand for urea this season is 30,000 metric tons.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Farmers require urea after plantation of paddy. &nbsp;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00