August 20: Ministry of Agriculture and Livestock Development has denied permission to the concerned state-owned corporations to issue tender notice for the purchase of chemical fertilisers, thereby delaying the procurement…
August 20: Ministry of Agriculture and Livestock Development has denied permission to the concerned state-owned corporations to issue tender notice for the purchase of chemical fertilisers, thereby delaying the procurement…
August 19: Commonwealth Development Corporation Group (CDC) of the UK had reached an understanding with Pakistan’s Habib Bank to purchase 20 per cent of the latter’s stake in Himalayan Bank Limited (HBL).…
August 19: While the overall industries of the country have been weakened by the impact of coronavirus, the market of sanitizer has skyrocketed in Nepal.…
August 19: With the increase in number of Covid-19 cases across the country, the provincial governments and the local units have sought financial support from the federal government for the prevention of the disease and treatment of…
August 19: The government has failed to construct even the basic facilities for new industrial estates even five years after starting the…
August 19: The government has appointed former secretary Mahesh Dahal as the chairman of the newly formed Revenue Board.…
August 19: Government authorities have decided to impose a week-long prohibitory order in the capital from Wednesday midnight (August 19).…
August 18: The net profit of Nepal Electricity Authority (NEA) increased in the last fiscal year 2019/20 amid coronavirus crisis.…
August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of…
August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market.…
August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of…
August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection.…
August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of…
August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19…
August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector.…
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But the corporations have not received approval from the ministry so far.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This is expected to cause shortage of chemical fertilizers during the wheat planting season later in the year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson of Salt Trading Corporation Kumar Raj Bhandari informed New Business Age that the process of procuring chemical fertilizers has been affected due to the delay in government granting permission for the purchase.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We have sought permission from the ministry to issue tender notice time and again but the ministry has ignored our plea,” said Bhandari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Salt Trading Corporation has been authorized to purchase 30 percent of fertilizers and Krishi Samagri Company 70 percent on behalf of the government. They then sell the fertilziers to the farmers at subsidized rate.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Salt Trading has received permission to purchase 30,000 metric tons of Urea, 40,000 metric tons of DAP and 5,000 metric tons of Potassium for the first quarter of 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:"Arial Unicode MS"">Meanwhile, chief of Krishi Samagri Company Netra Bhandari also confirmed that the ministry has denied permission for issuing tender for the purchase of fertilizers for the second quarter.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">On the other hand, secretary at the Ministry of Agriculture and Livestock Development Rajendra Prasad Bhari told New Business Age that he was not aware about the delay in granting permission to the corporations for purchasing 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:"Arial Unicode MS"">However, spokesperson at the ministry Dr Hari Bahadur KC said that the guidelines for subsidized fertilizers is in the process of being approved, causing delay in granting permission for the procurement.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-20', 'modified' => '2020-08-20', 'keywords' => '', 'description' => '', 'sortorder' => '12098', 'image' => '20200820110531_7613093.Clipboard02.jpg', 'article_date' => '2020-08-20 11:05:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12349', 'article_category_id' => '1', 'title' => 'Covid-19 Pandemic Delays Sale of Habib’s Shares in HBL to CDC', 'sub_title' => 'Plans of Merger Will Not Affect the Agreement: HBL', 'summary' => 'August 19: Commonwealth Development Corporation Group (CDC) of the UK had reached an understanding with Pakistan’s Habib Bank to purchase 20 per cent of the latter’s stake in Himalayan Bank Limited (HBL). ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">August 19: Commonwealth Development Corporation Group (CDC) of the UK had reached an understanding with Pakistan’s Habib Bank to purchase 20 per cent of the latter’s stake in Himalayan Bank Limited (HBL). But it had to postpone the decision due to the Covid-19 pandemic. </span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Earlier, CDC had announced in mid-January after its annual general meeting that it will sign the share purchase agreement. However, the bank informed that the agreement has been kept on “hold” for now due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Tulsi Prasad Gautam, chairman of HBL, said that the bank has been notified by the CDC that the share purchase agreement will be put on hold for 2020 as it is not possible for their representatives to travel to Nepal due to the pandemic. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“They need to come to Nepal to fulfill the required arrangements and procedures before purchasing the shares. However, they could not come to Nepal due to the spread of the coronavirus. That’s why the agreement will be put on hold for now,” he said, adding, “The agreement has been deferred for rest of 2020. They have said that the agreement will be taken forward by analyzing the condition of the pandemic.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Ashoke SJB Rana, CEO of HBL, said that 80 percent of the Due Diligence Audit (DDA) of the shares owned by Habib had already been completed before the annual general meeting of last year and that the remaining work would be completed after the AGM. “However, that could not happen immediately. The transfer of share ownership will take time because of the current situation.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The issued capital of Himalayan Bank has become Rs 9.37 billion following the distribution of 10 percent bonus shares after the annual general meeting of FY 2075/76. According to the bank, CDC had agreed to pay Rs 280 per share for the promoter shares owned by Habib. Habib owns 20 percent of the total shares of the bank, which amounts to 10.70 million units of shares.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Habib had first proposed the other promoters of HBL to purchase the shares that they were planning to sell. Habib had made this offer about one and half years ago because legally, the remaining promoters have the first right to buy the shares sold by another promoter. However, Habib made a deal with CDC when the promoter shareholders refused to buy the shares within 45 days of the offer. CDC has 9 percent stake on Habib. The two institutions had already been discussing about trading the shares of Himalayan Bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Himalayan Bank has started preparing for a merger even though the share purchase procedure between CDC and Habib has not been completed. Chairman Gautam informed that the board of directors of the bank have already decided to form a merger committee last Sunday but a minute is yet to be prepared for it. According to him, the merger will not affect the sales of the promoter shares. He added that the new board of directors formed seven months ago created a new merger committee after dissolving the one that was formed a year ago because it had not started any work for mergers and acquisitions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He expressed that the bank is planning to merge with a commercial bank that they can fit in with. According to him, the merger committee is trying to coordinate with various banks before submitting the names of three most suitable banks to the board. The bank will go for a merger after the board discusses their options and chooses the most appropriate commercial bank. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“It is not appropriate for others to suggest whom we should merge with,” he told New Business Age, adding, “The merger may happen with any bank except government-owned bank and Standard Chartered Bank Nepal.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank has used the monetary policy to compel commercial banks, especially the ones with cross holdings to acquire or be acquired by another bank. This is why commercial banks are under pressure to enter into mergers.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12097', 'image' => '20200819035328_1597786557.d.jpg', 'article_date' => '2020-08-19 15:52:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12350', 'article_category_id' => '1', 'title' => 'COVID-19 Infection Boosts the Market of Sanitizer ', 'sub_title' => '', 'summary' => 'August 19: While the overall industries of the country have been weakened by the impact of coronavirus, the market of sanitizer has skyrocketed in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">August 19: While the overall industries of the country have been weakened by the impact of coronavirus, the market of sanitizer has skyrocketed in Nepal. Many domestic pharmaceutical companies have started production of sanitizers after its demand increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON), 30 industries are currently producing sanitizers commercially. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“Its use has increased as the coronavirus infection has been spread massively. Most of the pharmaceutical companies have started its production as the demand in the market has gone up,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although the Drug Act defines sanitizers as medicines, its production was neglected. The government had paved the way for the production of sanitizer by issuing a guideline in May 2017. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The guideline has given the responsibility of regulating the production standard and quality of sanitizers to the Department of Drug Administration. DDA decided to allow the pharmaceutical industries to make sanitizers after a nationwide lockdown imposed from March 24 to control the infection. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According Santosh KC, spokesperson of DDA, 40 industries in the country have already taken permission to produce sanitizers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Industrialists estimate that the market of sanitizer in Nepal has reached Rs 500 million since the beginning of the coronavirus infection. They expect the demand for sanitizers to increase further. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the customs department, 530,000 liters of sanitizer worth Rs 245.4 million was imported from India and China in the last Fiscal Year 2076/77. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12096', 'image' => '20200819045525_1597786264.Clipboard11.jpg', 'article_date' => '2020-08-19 16:54:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12348', 'article_category_id' => '1', 'title' => 'Provincial Governments, Local Units Seek Rs 450 Million to Fight Covid-19 Pandemic', 'sub_title' => '', 'summary' => 'August 19: With the increase in number of Covid-19 cases across the country, the provincial governments and the local units have sought financial support from the federal government for the prevention of the disease and treatment of patients.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: With the increase in number of Covid-19 cases across the country, the provincial governments and the local units have sought financial support from the federal government for the prevention of the disease and treatment of patients.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Altogether 92 local units of all seven provinces have asked for Rs 450 million from the government to set up ventilators, procure PCR machines and build isolation wards.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has formed a management committee headed by the Vice President of the National Planning Commission for mobilizing the Covid-19 Emergency Fund. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Financial Comptroller General Gopi Nath Mainali, who is also a member of the committee, told New Business Age that they have to analyze the requirements before releasing such a large amount.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We will release the fund to the local units as well as provincial governments after ascertaining the number of ventilators and PCR machines required,” said Mainali.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Financial Comptroller General’s Office, the fund has so far collected Rs 2.73 billion and has already spent Rs 1.9 billion. The committee is preparing to bankroll the amount to the local units and provincial governments from the remaining Rs 1.64 billion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> The Financial Comptroller General’s Office said that the federal government has already provided financial assistance to the hospitals of provinces and local levels to fight the pandemic before.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12095', 'image' => '20200819032227_coronavirus-4833754_1920 2.jpg', 'article_date' => '2020-08-19 15:21:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12347', 'article_category_id' => '1', 'title' => 'Government Lags Behind in Establishing New Industrial Estates', 'sub_title' => '', 'summary' => 'August 19: The government has failed to construct even the basic facilities for new industrial estates even five years after starting the project.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 19: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has failed to construct even the basic facilities for new industrial estates even five years after starting the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had announced plans to build the industrial estates in 2015. It has already initiated the work but the construction has been delayed inordinately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government since starting the expansion of industrial estates five years ago has been able to finish only preparing the Detailed Project Report (DPR), land purchase and compensation distribution, as well as the Environmental Impact Assessment (EIA) of the sites in Damak of Jhapa, Mayurdhap of Makwanpur, Shaktikhor of Chitwan, Motipur of Rupandehi, Naubasta of Banke and Daichi of Kanchanpur.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Despite the lackluster progress, government officials inform that necessary infrastructures are being built in the industrial areas.</span></span></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"> Nanda Kishore Basnet, chairman of the Industrial District Management Limited, informed that the foundation stones at all the proposed industrial areas have been laid in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, he added that it would take the government additional two years to complete the construction of basic infrastructures such as roads, electricity, water and fencing.</span></span></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">Balaju Industrial Estate was established for the first time in Nepal about 58 years ago. Since then, the government has established 10 industrial estates across the country. The last of them was set up more than 34 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:Calibri">It has taken decades for the government to set up new industrial estates. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12094', 'image' => '20200819013035_1597786507.Clipboard12.jpg', 'article_date' => '2020-08-19 13:29:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12346', 'article_category_id' => '1', 'title' => 'Government Appoints Dahal as Chairman of Revenue Board', 'sub_title' => '', 'summary' => 'August 19: The government has appointed former secretary Mahesh Dahal as the chairman of the newly formed Revenue Board. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: The government has appointed former secretary Mahesh Dahal as the chairman of the newly formed Revenue Board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance has established this board to resolve the disputes related to revenue and to provide policy-level suggestions to the ministry. The Council of Ministers on Monday (August 17) appointed Dahal as the chairman of the board upon the recommendation of the ministry.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Revenue Board was formed after a long preparation. Before the formation of the board, there wasn’t any permanent mechanism to deal with revenue-related disputes.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In lack of such mechanism, a Revenue Advisory Committee headed by the revenue secretary used to collect suggestions related to revenue every year before the announcement of annual budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the formation of the board, all such issues will be handled by the board itself. The board will regularly provide suggestions to the government and also conduct study and research on issues related to revenue. It will also deal with revenue collection and its management as well as controlling the leakage.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">After his appointment, Dahal said he would fulfill his duties to the best of his ability. He added that the will take the private sector in confidence while increasing revenue and in dealing with controversial issues.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The cabinet has also appointed Nirmal Hari Adhikari as a member of the board. Adhikari had retired from government service as a joint secretary at the finance ministry. The post of another member of the board is currently vacant.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The board consists of a chairman and two members only. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Dahal and Adhikari were the only contenders for their respective posts.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The concept of Revenue Board was envisaged by the then UML government 24 years ago. In 1996, the then finance minister Bharat Mohan Adhikari had announced the formation of the board.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Later, the proposal to form the board was backed by finance ministers Baburam Bhattarai, Ram Sharan Mahat, Krishna Bahadur Mahara as well as Bishnu Poudel but they failed to implement it.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The incumbent Finance Minister Yuba Raj Khatiwada had expedited the process of formation of the board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The present government had announced to replace the Revenue Advisory Committee by the Revenue Board.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12093', 'image' => '20200819124754_1597786663.Mahesh Dahal.jpg', 'article_date' => '2020-08-19 12:47:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12345', 'article_category_id' => '1', 'title' => 'Government Authorities Issue Week-Long Prohibitory Order in the Capital', 'sub_title' => '', 'summary' => 'August 19: Government authorities have decided to impose a week-long prohibitory order in the capital from Wednesday midnight (August 19). ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: Government authorities have decided to impose a week-long prohibitory order in the capital from Wednesday midnight (August 19). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A meeting of the chief district officers and security chiefs of Kathmandu, Lalitpur and Bhaktapur on Tuesday (August 18) decided to issue the prohibitory order to contain the rapid surge of Covid-19 infection in the valley. The prohibitory order will remain in effect till August 26. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">All services except essential and emergency will remain suspended for a 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:"Arial Unicode MS"">According to the District Administration Office, Kathmandu, only vehicles transporting food items, medicines, security personnel and ambulances will be allowed to operate during this period. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This decision was taken after the Council of Ministers authorised the chief district officers to issue prohibitory order if required to contain the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Coronavirus has been spreading fast in the capital after the government eased the lockdown 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:"Arial Unicode MS""> The valley reported 205 new cases of coronavirus on Tuesday alone. As of Tuesday evening, the total number of Covid-19 cases in the capital has reached 2339, according to the Ministry of Health and Population. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12092', 'image' => '20200819114629_1597767940.jpg', 'article_date' => '2020-08-19 11:45:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12344', 'article_category_id' => '1', 'title' => 'NEA’s Net Profit Soars Despite Lockdown', 'sub_title' => '', 'summary' => 'August 18: The net profit of Nepal Electricity Authority (NEA) increased in the last fiscal year 2019/20 amid coronavirus crisis. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">August 18: The net profit of Nepal Electricity Authority (NEA) increased in the last fiscal year 2019/20 amid coronavirus crisis. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">According to the state-owned utility, its net profit increased by 12.64 percent during the review period. The net profit of NEA in FY 2018/19 was Rs 9.84 billion , which rose to Rs 11.5 billion in FY 2019/20. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NEA claimed that its profit was the highest among the government-run corporations. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Its accrued loss which was Rs 12.37 billion also came down to Rs 4.86 billion in the last 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:"Bangla MN"">The electricity consumption had reduced during the four-month long lockdown period. NEA was also unable to collect electricity fare during the period. In such context, NEA was expecting its profit to shrink. But statistics show its profit increased instead of declining.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Speaking at a virtual conference organised on the occasion of the 35<sup>th</sup> anniversary of NEA, Energy Minister Barsha Man Pun said it was praiseworthy for an institution which was on the verge of privatization to make maximum profit.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Minister Pun added that the government has facilitated NEA to have access to the international market by granting permission for cross-border energy trade. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12091', 'image' => '20200818043659_1597700431.Clipboard08.jpg', 'article_date' => '2020-08-18 16:36:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12342', 'article_category_id' => '1', 'title' => 'Nepal Bankers’ Association urges Customers to Promote Digital Banking', 'sub_title' => '', 'summary' => 'August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Issuing a statement on Monday, the association urged the customers not to visit any branch of banks unless it is urgent. Instead, it has requested everyone to use digital banking service. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In the statement, Nepal Bankers’ Association has appealed to all its customers to prioritize electronic transaction to minimize the risk of Covid-19 transmission, which has taken the form of a pandemic.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The association stressed on the need of digital banking from home to protect onself and others from coronavirus.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The statement mentions that one can easily deposit or transfer money in bank accounts from home or avail details of transaction through the use of digital banking. In such context, it is advisable to promote the use of digital banking, the statement said.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The customers can call the banks or the respective branches if there is any problem in digital banking or for changing the password, reads the statement.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12090', 'image' => '20200818021020_960x0.jpg', 'article_date' => '2020-08-18 14:09:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12343', 'article_category_id' => '1', 'title' => 'realme Launches 4 New AIoT Devices ', 'sub_title' => '', 'summary' => 'August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. The company in a press statement informed that the new devices include the realme Band, realme Buds Air, realme Buds Air Neo, and realme watch. According to a statement issued by the company, the devices will be available at over 950 retailers and ecommerce site Daraz. </span></span></p> <p><span style="font-size:18px"><strong><span style="font-family:Cambria">realme Watch</span></strong></span></p> <p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/watch3.jpeg" style="height:480px; width:480px" /></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company said that Realme’s first-ever smartwatch features a 3.5cm color touch display with Corning Gorilla Glass protection. The Realme watch offers 380nits of brightness with 10 levels of brightness adjustment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“The display is capable of producing vivid colors and great image quality which makes for a great visual experience in a smartwatch at its price range,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Apart from its superb display, the smartwatch also comes with GOODiX PPG heart rate sensor for accurate heart rate information and blood oxygen monitor. “Users can also enjoy the smart notification feature, dozens of watch faces to suit each individual’s style, IoT SmartConnect, is IP68 water-resistant with 14 different sport modes,” the company stated. </span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Band</span></span></strong></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria"><img alt="" src="/app/webroot/userfiles/images/band1.jpeg" style="height:480px; width:480px" /></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to realme, the band is elegantly designed around its large 2.4cm screen capable of producing 65,000 colors. “With the virtual button, users can scroll through the interface, turn pages, and other basic interactive functions without the need of a smartphone for utmost convenience,” said the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The realme band also features 24-hour heart rate sensor, smart notifications, a healthy selection of watch faces, 9 different sports modes including cricket, and is IP68 water-resistant. It also features USB direct charging which includes data transmission without the need to carry around a charging/data cable.</span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air Neo</span></span></strong></p> <p><img alt="" src="/app/webroot/userfiles/images/buds4%281%29.jpeg" style="height:480px; width:480px" /></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company claimed that the buds air neo offers a truly wireless music listening experience with an excellent battery life of around 17 hours and great sound quality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“It’s 13mm large drivers and an advanced LCP multilayer composite diaphragm ensures rich bass reproduction with bright treble and no harshness,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The realme exclusive custom R1 chip brings wireless connectivity experience to a new level. According to the statement, the buds air neo also comes equipped with gaming mode, which reduces the delay by 51 percent to an amazing 119.3ms. These buds are also IPX4 rated for added protection against water.</span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air</span></span></strong></p> <p><img alt="" src="/app/webroot/userfiles/images/neo5%281%29.jpeg" style="height:480px; width:480px" /></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company said that the Realme buds air is for those who want the best TWS air buds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Apart from the super low latency, great audio quality, excellent battery life, and the realme exclusive R1 chip, the realme Buds Air offer wireless charging support, environment noise cancellation, and smart in-ear detection,” reads the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to the company, these features bring out the true potential of TWS buds in the market making them one of the best options for wireless music lovers out there. Colour options include black, white, and realme’s iconic yellow. </span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">Products Price Colour Options </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme watch Rs 7,799 Black </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme band Rs 2,999 Black </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air neo Rs 5,599 White </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air Rs 6,999 Black, White, Yellow </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p> </p> </td> </tr> </tbody> </table> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12089', 'image' => '20200818025753_gbePFLfn_400x400.jpg', 'article_date' => '2020-08-18 14:54:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12341', 'article_category_id' => '1', 'title' => 'Local Products Get Good Market after Closure of Nepal-India Border ', 'sub_title' => '', 'summary' => 'August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">This has discouraged the practice of going across the border to the Indian markets from Biratnagar and Kakadvitta in Province 1 since the last four months. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Prior to the lockdown, customers from Nepal used to spend an average of Rs 50 million per day and Rs 1.5 billion every month in the Indian markets adjoined to 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:"Times New Roman"">Amit Sharma, an operator of a grocery shop at Biratnagar-4, Kanchanbari said that it has been four months since he started selling Nepali products only. He has kept Nepali products in his shop after the Indian goods from across the border stopped coming after the border was closed due to the lockdown. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">“Nepali businessmen have not been able to export their products. Items such as biscuits, noodles, oil, lentils, and rice are mostly consumed here,” he said. While he used to sell products worth Rs 20,000 on a daily basis, he said he has been selling products worth Rs 40,000 these days after the lockdown was imposed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the president of Birat Merchant Association, Sujan Thapa, the demand of sugar, oil, lentils, vegetables, fish, meat, rice, biscuits, and flour produced in Nepal has increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Of late, Bhat Bhateni Supermarket in Biratnagar has been selling 98% of vegetables grown in Nepal. Apart from potatoes and onion, they have been selling all the vegetables from the farmers 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:"Times New Roman"">Binod Bhattarai, manager of Bhat Bhateni Supermarket, said that the produce of Nepali farmers have received a good market as well as better price after the border was closed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to him, sales of Nepali products in Bhat Bhateni have been increased by 50% during the lockdown. He further said that they have given priority to the local products of Province 1 such as Rumpum noodles, Century spices, and Goodlife biscuits. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12088', 'image' => '20200818015405_combo3.jpg', 'article_date' => '2020-08-18 13:53:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12340', 'article_category_id' => '1', 'title' => 'Demand for Drugs Declines in Nepal ', 'sub_title' => '', 'summary' => 'August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Drug manufacturers say that the demand for medicine has declined because patients have stopped visiting hospitals and private clinics due to fear of coronavirus transmission.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Pharmacists claim that the demand for medicines has come down by up to 70 percent. According to the pharmaceutical companies, the sales of over-the-counter drugs that can be bought without a doctor's prescription have dropped dramatically.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The demand of medicines particularly used for healing wounds, dermatological diseases, painkillers and antibiotics has declined mostly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON) informed that the sales of antibiotics have dropped by almost 40 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">At present, the demand for medicines other than those for chronic diseases has decreased, says Sitaram Ghimire, president of the Nepal Pharmaceutical Entrepreneurs Association. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">"However, the demand for medicines for chronic diseases remains the same. The demand for medicines for chronic diseases including asthma, cancer, tuberculosis, diabetes, hypertension and thyroid has not decreased,” informed Ghimire. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that the demand for psychiatric drugs has increased drastically due to the impact of Covid-19 and the subsequent lockdown.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12087', 'image' => '20200818124630_1597700501.Clipboard10.jpg', 'article_date' => '2020-08-18 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12339', 'article_category_id' => '1', 'title' => 'NAC Prepares Business Plan to Purchase 5 Aircraft for Domestic Flights', 'sub_title' => '', 'summary' => 'August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The NAC is preparing to submit is business plan for a strong presence in the domestic market to the tourism ministry.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Although the business plan has strategies to reinforce NAC’s dominance in the domestic market, it does not mention anything about the management of the grounded Chinese aircraft. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The business plan only mentions that the NAC intends to buy the new aircraft to make a strong presence in the domestic 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:"Bangla MN"">Executive Chairman of NAC, Sushil Ghimire, informed New Business Age that they are preparing to submit the proposal for the purchase of five aircraft in the first phase. In the business plan, NAC has demanded Rs 7 billion for the procurement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Ghimire clarified that they have come up with a new business plan after incurring heavy loss while operating the Chinese aircraft. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The state-owned airline company had drawn immense criticism for purchasing the Chinese aircraft under political influence and without conducting adequate study. A board meeting of NAC on July 30 decided to permanently ground the China-made aircraft to avoid further losses.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC incurred losses of more than Rs 2.3 billion while operating the Chinese aircraft for the last five years.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC has four Y-12 and two MA-60 aircraft manufactured in China. But the flag carrier of Nepal is providing domestic service with two twin otters after grounding the other six aircraft. Another twin otter is currently under maintenance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Private airline companies operate flights to those destinations where they can make quick money. That is quite natural,” says Ghimire, adding, “But NAC has to fulfill its social obligation by operating flights to those destinations that are not commercially viable. We have to provide service to the remote areas to strengthen our presence.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC has only 3 per cent stake in the domestic market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12086', 'image' => '20200818113536_1597700737.Clipboard07a.jpg', 'article_date' => '2020-08-18 11:34:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12338', 'article_category_id' => '1', 'title' => 'DDA Gives Permission for Import of Remdesivir for ‘Clinical Trial’', 'sub_title' => '', 'summary' => 'August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Those Indian companies include Cipla, Hetero and Mylan. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the department Santosh KC informed New Business Age that the representatives of those companies in Nepal can now import Remdesivir injection for the treatment of Covid-19 patients. The department has already prepared a work procedure for the import of the medicine.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although Remdesivir is used in emergency cases, it is not proved an effective drug against Covid-19. Therefore, the department had to prepare a work procedure for its import. It took more than two months for the companies to get the permission to supply the drug.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department informed that it had to get approval from the health ministry to implement the work procedure, so it took some time.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department had sought permission from the ministry to import Remdesivir and Favipiravir on June 24. But the ministry approved import of only Remdesivir.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Altogether nine companies had filed application to supply the medicine out of which the department selected three 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:"Arial Unicode MS"">Nepal Health Research Council had sent a letter to the department on Saturday to allow the import of Remdesivir for clinical trial on Covid-19 patients who are in critical condition. The department granted permission for the import after receiving the letter.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-17', 'modified' => '2020-08-17', 'keywords' => '', 'description' => '', 'sortorder' => '12085', 'image' => '20200817052454_1597613342.Clipboard04.jpg', 'article_date' => '2020-08-17 17:24:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12337', 'article_category_id' => '1', 'title' => 'Profit and Premium Collection of Life Insurance Companies Decline', 'sub_title' => '', 'summary' => 'August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. The growth rate and the profit of life insurance companies have decreased in the Fiscal Year 2076/77.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The profits of life insurance companies had increased by 16 per cent in the FY 2075/76 whereas the average profit of the life insurance companies was only about 5 per cent in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Eighteen out of the nineteen private life insurance companies have published their fourth quarterly report on Sunday.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">According to the published financial statements, the eighteen life insurance companies had earned a net profit of rupees 3.19 billion in the FY 2075/76. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">But the profits of four companies have decreased in the last fiscal year, according to the report. The financial statements of Met Life shows that its profit has decreased by 41.24 per cent. Similarly, the profit of Prime Life has decreased by 4.63 per cent, LIC by 25.88 per cent and Sanima Life by 4.26 per cent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Life Insurance seems to be ahead when it comes to earning profit in the last fiscal year. The company has earned a profit of rupees 530.3 million in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The growth rate of insurance premium collection has also declined. The rate of premium collection increased by 21.28 per cent in the FY 2076/77 when it had increased by 46 per cent in the FY 2075/76.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Met Life’s insurance premium has declined by 1.68 per cent while the rest of the companies have increased their premium collection. Met Life collected a total premium of Rs 4.21 billion in the previous fiscal year. However, their premium collection decreased to rupees 4.14 billion in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Life is in the frontline in terms of collection of premium too. In the year under review, the company had collected a premium of Rs 27.62 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The government had enforced a lockdown from March 24 to July 22. The businesses of the life insurance companies had increased highly in this period of time. Raju Raman Poudel, the director of the Insurance Board said that the impact of coronavirus as shown in the financial statements of the life insurance companies was less than they had anticipated. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“The businesses of life insurance was booming before the lockdown. We had predicted that the businesses would be largely affected in the three-month lockdown,” he said, “However, that didn’t happen.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Similarly, Shivanath Pandey, the chairman of Nepal Insurers’ Association, stated that the life insurance companies have not been highly impacted despite of the decline in their profits. “There have been impacts. We were not able to maintain the growth rates of the previous fiscal years because of the lockdown,” he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He expressed that the life insurance companies were not affected very badly because of their long-term investments. However, the companies believed that the upcoming days would be more challenging for the life insurance sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Insurance agents have to physically visit the customers’ residences. Poudel, the executive director of the board, expressed that this was also the reason why it was very challenging to conduct the businesses of life insurance during the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“Insurance agents have to go from residence to residence to get clients,” he said, “But it is not possible to do this because of the virus. This has affected the business.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Pandey, the chairman of the association, also agreed that the upcoming days would be challenging. “Our main source of income is the interest from banks. We have invested approximately rupees 300 billion in banks. The banks have reduced their interest rates right now,” he said, “It will be very challenging for us to earn profits in the future due to this situation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-17', 'modified' => '2020-08-17', 'keywords' => '', 'description' => '', 'sortorder' => '12084', 'image' => '20200817035538_1597613715.Clipboard06.jpg', 'article_date' => '2020-08-17 15:55:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12351', 'article_category_id' => '1', 'title' => 'Government Denies Permission for Procurement of Chemical Fertilizers', 'sub_title' => '', 'summary' => 'August 20: Ministry of Agriculture and Livestock Development has denied permission to the concerned state-owned corporations to issue tender notice for the purchase of chemical fertilisers, thereby delaying the procurement process.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 20: Ministry of Agriculture and Livestock Development has denied permission to the concerned state-owned corporations to issue tender notice for the purchase of chemical fertilisers, thereby delaying the procurement process.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The ministry denied permission to the Salt Trading Corporation and Krishi Samagri Company from issuing tender bids for the purchase of fertilizers in 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:"Arial Unicode MS"">The ministry should have given permission to these two corporations by mid-August to procure fertilizers for the second quarter of the current fiscal year. But the corporations have not received approval from the ministry so far.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This is expected to cause shortage of chemical fertilizers during the wheat planting season later in the year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson of Salt Trading Corporation Kumar Raj Bhandari informed New Business Age that the process of procuring chemical fertilizers has been affected due to the delay in government granting permission for the purchase.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We have sought permission from the ministry to issue tender notice time and again but the ministry has ignored our plea,” said Bhandari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Salt Trading Corporation has been authorized to purchase 30 percent of fertilizers and Krishi Samagri Company 70 percent on behalf of the government. They then sell the fertilziers to the farmers at subsidized rate.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Salt Trading has received permission to purchase 30,000 metric tons of Urea, 40,000 metric tons of DAP and 5,000 metric tons of Potassium for the first quarter of 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:"Arial Unicode MS"">Meanwhile, chief of Krishi Samagri Company Netra Bhandari also confirmed that the ministry has denied permission for issuing tender for the purchase of fertilizers for the second quarter.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">On the other hand, secretary at the Ministry of Agriculture and Livestock Development Rajendra Prasad Bhari told New Business Age that he was not aware about the delay in granting permission to the corporations for purchasing 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:"Arial Unicode MS"">However, spokesperson at the ministry Dr Hari Bahadur KC said that the guidelines for subsidized fertilizers is in the process of being approved, causing delay in granting permission for the procurement.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-20', 'modified' => '2020-08-20', 'keywords' => '', 'description' => '', 'sortorder' => '12098', 'image' => '20200820110531_7613093.Clipboard02.jpg', 'article_date' => '2020-08-20 11:05:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12349', 'article_category_id' => '1', 'title' => 'Covid-19 Pandemic Delays Sale of Habib’s Shares in HBL to CDC', 'sub_title' => 'Plans of Merger Will Not Affect the Agreement: HBL', 'summary' => 'August 19: Commonwealth Development Corporation Group (CDC) of the UK had reached an understanding with Pakistan’s Habib Bank to purchase 20 per cent of the latter’s stake in Himalayan Bank Limited (HBL). ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">August 19: Commonwealth Development Corporation Group (CDC) of the UK had reached an understanding with Pakistan’s Habib Bank to purchase 20 per cent of the latter’s stake in Himalayan Bank Limited (HBL). But it had to postpone the decision due to the Covid-19 pandemic. </span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Earlier, CDC had announced in mid-January after its annual general meeting that it will sign the share purchase agreement. However, the bank informed that the agreement has been kept on “hold” for now due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Tulsi Prasad Gautam, chairman of HBL, said that the bank has been notified by the CDC that the share purchase agreement will be put on hold for 2020 as it is not possible for their representatives to travel to Nepal due to the pandemic. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“They need to come to Nepal to fulfill the required arrangements and procedures before purchasing the shares. However, they could not come to Nepal due to the spread of the coronavirus. That’s why the agreement will be put on hold for now,” he said, adding, “The agreement has been deferred for rest of 2020. They have said that the agreement will be taken forward by analyzing the condition of the pandemic.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Ashoke SJB Rana, CEO of HBL, said that 80 percent of the Due Diligence Audit (DDA) of the shares owned by Habib had already been completed before the annual general meeting of last year and that the remaining work would be completed after the AGM. “However, that could not happen immediately. The transfer of share ownership will take time because of the current situation.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The issued capital of Himalayan Bank has become Rs 9.37 billion following the distribution of 10 percent bonus shares after the annual general meeting of FY 2075/76. According to the bank, CDC had agreed to pay Rs 280 per share for the promoter shares owned by Habib. Habib owns 20 percent of the total shares of the bank, which amounts to 10.70 million units of shares.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Habib had first proposed the other promoters of HBL to purchase the shares that they were planning to sell. Habib had made this offer about one and half years ago because legally, the remaining promoters have the first right to buy the shares sold by another promoter. However, Habib made a deal with CDC when the promoter shareholders refused to buy the shares within 45 days of the offer. CDC has 9 percent stake on Habib. The two institutions had already been discussing about trading the shares of Himalayan Bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Himalayan Bank has started preparing for a merger even though the share purchase procedure between CDC and Habib has not been completed. Chairman Gautam informed that the board of directors of the bank have already decided to form a merger committee last Sunday but a minute is yet to be prepared for it. According to him, the merger will not affect the sales of the promoter shares. He added that the new board of directors formed seven months ago created a new merger committee after dissolving the one that was formed a year ago because it had not started any work for mergers and acquisitions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He expressed that the bank is planning to merge with a commercial bank that they can fit in with. According to him, the merger committee is trying to coordinate with various banks before submitting the names of three most suitable banks to the board. The bank will go for a merger after the board discusses their options and chooses the most appropriate commercial bank. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“It is not appropriate for others to suggest whom we should merge with,” he told New Business Age, adding, “The merger may happen with any bank except government-owned bank and Standard Chartered Bank Nepal.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank has used the monetary policy to compel commercial banks, especially the ones with cross holdings to acquire or be acquired by another bank. This is why commercial banks are under pressure to enter into mergers.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12097', 'image' => '20200819035328_1597786557.d.jpg', 'article_date' => '2020-08-19 15:52:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12350', 'article_category_id' => '1', 'title' => 'COVID-19 Infection Boosts the Market of Sanitizer ', 'sub_title' => '', 'summary' => 'August 19: While the overall industries of the country have been weakened by the impact of coronavirus, the market of sanitizer has skyrocketed in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">August 19: While the overall industries of the country have been weakened by the impact of coronavirus, the market of sanitizer has skyrocketed in Nepal. Many domestic pharmaceutical companies have started production of sanitizers after its demand increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON), 30 industries are currently producing sanitizers commercially. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“Its use has increased as the coronavirus infection has been spread massively. Most of the pharmaceutical companies have started its production as the demand in the market has gone up,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although the Drug Act defines sanitizers as medicines, its production was neglected. The government had paved the way for the production of sanitizer by issuing a guideline in May 2017. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The guideline has given the responsibility of regulating the production standard and quality of sanitizers to the Department of Drug Administration. DDA decided to allow the pharmaceutical industries to make sanitizers after a nationwide lockdown imposed from March 24 to control the infection. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According Santosh KC, spokesperson of DDA, 40 industries in the country have already taken permission to produce sanitizers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Industrialists estimate that the market of sanitizer in Nepal has reached Rs 500 million since the beginning of the coronavirus infection. They expect the demand for sanitizers to increase further. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the customs department, 530,000 liters of sanitizer worth Rs 245.4 million was imported from India and China in the last Fiscal Year 2076/77. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12096', 'image' => '20200819045525_1597786264.Clipboard11.jpg', 'article_date' => '2020-08-19 16:54:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12348', 'article_category_id' => '1', 'title' => 'Provincial Governments, Local Units Seek Rs 450 Million to Fight Covid-19 Pandemic', 'sub_title' => '', 'summary' => 'August 19: With the increase in number of Covid-19 cases across the country, the provincial governments and the local units have sought financial support from the federal government for the prevention of the disease and treatment of patients.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: With the increase in number of Covid-19 cases across the country, the provincial governments and the local units have sought financial support from the federal government for the prevention of the disease and treatment of patients.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Altogether 92 local units of all seven provinces have asked for Rs 450 million from the government to set up ventilators, procure PCR machines and build isolation wards.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has formed a management committee headed by the Vice President of the National Planning Commission for mobilizing the Covid-19 Emergency Fund. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Financial Comptroller General Gopi Nath Mainali, who is also a member of the committee, told New Business Age that they have to analyze the requirements before releasing such a large amount.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We will release the fund to the local units as well as provincial governments after ascertaining the number of ventilators and PCR machines required,” said Mainali.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Financial Comptroller General’s Office, the fund has so far collected Rs 2.73 billion and has already spent Rs 1.9 billion. The committee is preparing to bankroll the amount to the local units and provincial governments from the remaining Rs 1.64 billion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> The Financial Comptroller General’s Office said that the federal government has already provided financial assistance to the hospitals of provinces and local levels to fight the pandemic before.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12095', 'image' => '20200819032227_coronavirus-4833754_1920 2.jpg', 'article_date' => '2020-08-19 15:21:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12347', 'article_category_id' => '1', 'title' => 'Government Lags Behind in Establishing New Industrial Estates', 'sub_title' => '', 'summary' => 'August 19: The government has failed to construct even the basic facilities for new industrial estates even five years after starting the project.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 19: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has failed to construct even the basic facilities for new industrial estates even five years after starting the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had announced plans to build the industrial estates in 2015. It has already initiated the work but the construction has been delayed inordinately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government since starting the expansion of industrial estates five years ago has been able to finish only preparing the Detailed Project Report (DPR), land purchase and compensation distribution, as well as the Environmental Impact Assessment (EIA) of the sites in Damak of Jhapa, Mayurdhap of Makwanpur, Shaktikhor of Chitwan, Motipur of Rupandehi, Naubasta of Banke and Daichi of Kanchanpur.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Despite the lackluster progress, government officials inform that necessary infrastructures are being built in the industrial areas.</span></span></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"> Nanda Kishore Basnet, chairman of the Industrial District Management Limited, informed that the foundation stones at all the proposed industrial areas have been laid in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, he added that it would take the government additional two years to complete the construction of basic infrastructures such as roads, electricity, water and fencing.</span></span></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">Balaju Industrial Estate was established for the first time in Nepal about 58 years ago. Since then, the government has established 10 industrial estates across the country. The last of them was set up more than 34 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:Calibri">It has taken decades for the government to set up new industrial estates. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12094', 'image' => '20200819013035_1597786507.Clipboard12.jpg', 'article_date' => '2020-08-19 13:29:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12346', 'article_category_id' => '1', 'title' => 'Government Appoints Dahal as Chairman of Revenue Board', 'sub_title' => '', 'summary' => 'August 19: The government has appointed former secretary Mahesh Dahal as the chairman of the newly formed Revenue Board. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: The government has appointed former secretary Mahesh Dahal as the chairman of the newly formed Revenue Board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance has established this board to resolve the disputes related to revenue and to provide policy-level suggestions to the ministry. The Council of Ministers on Monday (August 17) appointed Dahal as the chairman of the board upon the recommendation of the ministry.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Revenue Board was formed after a long preparation. Before the formation of the board, there wasn’t any permanent mechanism to deal with revenue-related disputes.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In lack of such mechanism, a Revenue Advisory Committee headed by the revenue secretary used to collect suggestions related to revenue every year before the announcement of annual budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the formation of the board, all such issues will be handled by the board itself. The board will regularly provide suggestions to the government and also conduct study and research on issues related to revenue. It will also deal with revenue collection and its management as well as controlling the leakage.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">After his appointment, Dahal said he would fulfill his duties to the best of his ability. He added that the will take the private sector in confidence while increasing revenue and in dealing with controversial issues.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The cabinet has also appointed Nirmal Hari Adhikari as a member of the board. Adhikari had retired from government service as a joint secretary at the finance ministry. The post of another member of the board is currently vacant.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The board consists of a chairman and two members only. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Dahal and Adhikari were the only contenders for their respective posts.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The concept of Revenue Board was envisaged by the then UML government 24 years ago. In 1996, the then finance minister Bharat Mohan Adhikari had announced the formation of the board.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Later, the proposal to form the board was backed by finance ministers Baburam Bhattarai, Ram Sharan Mahat, Krishna Bahadur Mahara as well as Bishnu Poudel but they failed to implement it.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The incumbent Finance Minister Yuba Raj Khatiwada had expedited the process of formation of the board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The present government had announced to replace the Revenue Advisory Committee by the Revenue Board.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12093', 'image' => '20200819124754_1597786663.Mahesh Dahal.jpg', 'article_date' => '2020-08-19 12:47:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12345', 'article_category_id' => '1', 'title' => 'Government Authorities Issue Week-Long Prohibitory Order in the Capital', 'sub_title' => '', 'summary' => 'August 19: Government authorities have decided to impose a week-long prohibitory order in the capital from Wednesday midnight (August 19). ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: Government authorities have decided to impose a week-long prohibitory order in the capital from Wednesday midnight (August 19). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A meeting of the chief district officers and security chiefs of Kathmandu, Lalitpur and Bhaktapur on Tuesday (August 18) decided to issue the prohibitory order to contain the rapid surge of Covid-19 infection in the valley. The prohibitory order will remain in effect till August 26. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">All services except essential and emergency will remain suspended for a 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:"Arial Unicode MS"">According to the District Administration Office, Kathmandu, only vehicles transporting food items, medicines, security personnel and ambulances will be allowed to operate during this period. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This decision was taken after the Council of Ministers authorised the chief district officers to issue prohibitory order if required to contain the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Coronavirus has been spreading fast in the capital after the government eased the lockdown 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:"Arial Unicode MS""> The valley reported 205 new cases of coronavirus on Tuesday alone. As of Tuesday evening, the total number of Covid-19 cases in the capital has reached 2339, according to the Ministry of Health and Population. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12092', 'image' => '20200819114629_1597767940.jpg', 'article_date' => '2020-08-19 11:45:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12344', 'article_category_id' => '1', 'title' => 'NEA’s Net Profit Soars Despite Lockdown', 'sub_title' => '', 'summary' => 'August 18: The net profit of Nepal Electricity Authority (NEA) increased in the last fiscal year 2019/20 amid coronavirus crisis. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">August 18: The net profit of Nepal Electricity Authority (NEA) increased in the last fiscal year 2019/20 amid coronavirus crisis. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">According to the state-owned utility, its net profit increased by 12.64 percent during the review period. The net profit of NEA in FY 2018/19 was Rs 9.84 billion , which rose to Rs 11.5 billion in FY 2019/20. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NEA claimed that its profit was the highest among the government-run corporations. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Its accrued loss which was Rs 12.37 billion also came down to Rs 4.86 billion in the last 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:"Bangla MN"">The electricity consumption had reduced during the four-month long lockdown period. NEA was also unable to collect electricity fare during the period. In such context, NEA was expecting its profit to shrink. But statistics show its profit increased instead of declining.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Speaking at a virtual conference organised on the occasion of the 35<sup>th</sup> anniversary of NEA, Energy Minister Barsha Man Pun said it was praiseworthy for an institution which was on the verge of privatization to make maximum profit.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Minister Pun added that the government has facilitated NEA to have access to the international market by granting permission for cross-border energy trade. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12091', 'image' => '20200818043659_1597700431.Clipboard08.jpg', 'article_date' => '2020-08-18 16:36:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12342', 'article_category_id' => '1', 'title' => 'Nepal Bankers’ Association urges Customers to Promote Digital Banking', 'sub_title' => '', 'summary' => 'August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Issuing a statement on Monday, the association urged the customers not to visit any branch of banks unless it is urgent. Instead, it has requested everyone to use digital banking service. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In the statement, Nepal Bankers’ Association has appealed to all its customers to prioritize electronic transaction to minimize the risk of Covid-19 transmission, which has taken the form of a pandemic.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The association stressed on the need of digital banking from home to protect onself and others from coronavirus.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The statement mentions that one can easily deposit or transfer money in bank accounts from home or avail details of transaction through the use of digital banking. In such context, it is advisable to promote the use of digital banking, the statement said.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The customers can call the banks or the respective branches if there is any problem in digital banking or for changing the password, reads the statement.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12090', 'image' => '20200818021020_960x0.jpg', 'article_date' => '2020-08-18 14:09:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12343', 'article_category_id' => '1', 'title' => 'realme Launches 4 New AIoT Devices ', 'sub_title' => '', 'summary' => 'August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. The company in a press statement informed that the new devices include the realme Band, realme Buds Air, realme Buds Air Neo, and realme watch. According to a statement issued by the company, the devices will be available at over 950 retailers and ecommerce site Daraz. </span></span></p> <p><span style="font-size:18px"><strong><span style="font-family:Cambria">realme Watch</span></strong></span></p> <p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/watch3.jpeg" style="height:480px; width:480px" /></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company said that Realme’s first-ever smartwatch features a 3.5cm color touch display with Corning Gorilla Glass protection. The Realme watch offers 380nits of brightness with 10 levels of brightness adjustment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“The display is capable of producing vivid colors and great image quality which makes for a great visual experience in a smartwatch at its price range,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Apart from its superb display, the smartwatch also comes with GOODiX PPG heart rate sensor for accurate heart rate information and blood oxygen monitor. “Users can also enjoy the smart notification feature, dozens of watch faces to suit each individual’s style, IoT SmartConnect, is IP68 water-resistant with 14 different sport modes,” the company stated. </span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Band</span></span></strong></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria"><img alt="" src="/app/webroot/userfiles/images/band1.jpeg" style="height:480px; width:480px" /></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to realme, the band is elegantly designed around its large 2.4cm screen capable of producing 65,000 colors. “With the virtual button, users can scroll through the interface, turn pages, and other basic interactive functions without the need of a smartphone for utmost convenience,” said the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The realme band also features 24-hour heart rate sensor, smart notifications, a healthy selection of watch faces, 9 different sports modes including cricket, and is IP68 water-resistant. It also features USB direct charging which includes data transmission without the need to carry around a charging/data cable.</span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air Neo</span></span></strong></p> <p><img alt="" src="/app/webroot/userfiles/images/buds4%281%29.jpeg" style="height:480px; width:480px" /></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company claimed that the buds air neo offers a truly wireless music listening experience with an excellent battery life of around 17 hours and great sound quality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“It’s 13mm large drivers and an advanced LCP multilayer composite diaphragm ensures rich bass reproduction with bright treble and no harshness,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The realme exclusive custom R1 chip brings wireless connectivity experience to a new level. According to the statement, the buds air neo also comes equipped with gaming mode, which reduces the delay by 51 percent to an amazing 119.3ms. These buds are also IPX4 rated for added protection against water.</span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air</span></span></strong></p> <p><img alt="" src="/app/webroot/userfiles/images/neo5%281%29.jpeg" style="height:480px; width:480px" /></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company said that the Realme buds air is for those who want the best TWS air buds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Apart from the super low latency, great audio quality, excellent battery life, and the realme exclusive R1 chip, the realme Buds Air offer wireless charging support, environment noise cancellation, and smart in-ear detection,” reads the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to the company, these features bring out the true potential of TWS buds in the market making them one of the best options for wireless music lovers out there. Colour options include black, white, and realme’s iconic yellow. </span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">Products Price Colour Options </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme watch Rs 7,799 Black </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme band Rs 2,999 Black </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air neo Rs 5,599 White </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air Rs 6,999 Black, White, Yellow </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p> </p> </td> </tr> </tbody> </table> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12089', 'image' => '20200818025753_gbePFLfn_400x400.jpg', 'article_date' => '2020-08-18 14:54:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12341', 'article_category_id' => '1', 'title' => 'Local Products Get Good Market after Closure of Nepal-India Border ', 'sub_title' => '', 'summary' => 'August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">This has discouraged the practice of going across the border to the Indian markets from Biratnagar and Kakadvitta in Province 1 since the last four months. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Prior to the lockdown, customers from Nepal used to spend an average of Rs 50 million per day and Rs 1.5 billion every month in the Indian markets adjoined to 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:"Times New Roman"">Amit Sharma, an operator of a grocery shop at Biratnagar-4, Kanchanbari said that it has been four months since he started selling Nepali products only. He has kept Nepali products in his shop after the Indian goods from across the border stopped coming after the border was closed due to the lockdown. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">“Nepali businessmen have not been able to export their products. Items such as biscuits, noodles, oil, lentils, and rice are mostly consumed here,” he said. While he used to sell products worth Rs 20,000 on a daily basis, he said he has been selling products worth Rs 40,000 these days after the lockdown was imposed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the president of Birat Merchant Association, Sujan Thapa, the demand of sugar, oil, lentils, vegetables, fish, meat, rice, biscuits, and flour produced in Nepal has increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Of late, Bhat Bhateni Supermarket in Biratnagar has been selling 98% of vegetables grown in Nepal. Apart from potatoes and onion, they have been selling all the vegetables from the farmers 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:"Times New Roman"">Binod Bhattarai, manager of Bhat Bhateni Supermarket, said that the produce of Nepali farmers have received a good market as well as better price after the border was closed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to him, sales of Nepali products in Bhat Bhateni have been increased by 50% during the lockdown. He further said that they have given priority to the local products of Province 1 such as Rumpum noodles, Century spices, and Goodlife biscuits. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12088', 'image' => '20200818015405_combo3.jpg', 'article_date' => '2020-08-18 13:53:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12340', 'article_category_id' => '1', 'title' => 'Demand for Drugs Declines in Nepal ', 'sub_title' => '', 'summary' => 'August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Drug manufacturers say that the demand for medicine has declined because patients have stopped visiting hospitals and private clinics due to fear of coronavirus transmission.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Pharmacists claim that the demand for medicines has come down by up to 70 percent. According to the pharmaceutical companies, the sales of over-the-counter drugs that can be bought without a doctor's prescription have dropped dramatically.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The demand of medicines particularly used for healing wounds, dermatological diseases, painkillers and antibiotics has declined mostly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON) informed that the sales of antibiotics have dropped by almost 40 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">At present, the demand for medicines other than those for chronic diseases has decreased, says Sitaram Ghimire, president of the Nepal Pharmaceutical Entrepreneurs Association. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">"However, the demand for medicines for chronic diseases remains the same. The demand for medicines for chronic diseases including asthma, cancer, tuberculosis, diabetes, hypertension and thyroid has not decreased,” informed Ghimire. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that the demand for psychiatric drugs has increased drastically due to the impact of Covid-19 and the subsequent lockdown.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12087', 'image' => '20200818124630_1597700501.Clipboard10.jpg', 'article_date' => '2020-08-18 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12339', 'article_category_id' => '1', 'title' => 'NAC Prepares Business Plan to Purchase 5 Aircraft for Domestic Flights', 'sub_title' => '', 'summary' => 'August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The NAC is preparing to submit is business plan for a strong presence in the domestic market to the tourism ministry.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Although the business plan has strategies to reinforce NAC’s dominance in the domestic market, it does not mention anything about the management of the grounded Chinese aircraft. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The business plan only mentions that the NAC intends to buy the new aircraft to make a strong presence in the domestic 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:"Bangla MN"">Executive Chairman of NAC, Sushil Ghimire, informed New Business Age that they are preparing to submit the proposal for the purchase of five aircraft in the first phase. In the business plan, NAC has demanded Rs 7 billion for the procurement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Ghimire clarified that they have come up with a new business plan after incurring heavy loss while operating the Chinese aircraft. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The state-owned airline company had drawn immense criticism for purchasing the Chinese aircraft under political influence and without conducting adequate study. A board meeting of NAC on July 30 decided to permanently ground the China-made aircraft to avoid further losses.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC incurred losses of more than Rs 2.3 billion while operating the Chinese aircraft for the last five years.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC has four Y-12 and two MA-60 aircraft manufactured in China. But the flag carrier of Nepal is providing domestic service with two twin otters after grounding the other six aircraft. Another twin otter is currently under maintenance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Private airline companies operate flights to those destinations where they can make quick money. That is quite natural,” says Ghimire, adding, “But NAC has to fulfill its social obligation by operating flights to those destinations that are not commercially viable. We have to provide service to the remote areas to strengthen our presence.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC has only 3 per cent stake in the domestic market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12086', 'image' => '20200818113536_1597700737.Clipboard07a.jpg', 'article_date' => '2020-08-18 11:34:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12338', 'article_category_id' => '1', 'title' => 'DDA Gives Permission for Import of Remdesivir for ‘Clinical Trial’', 'sub_title' => '', 'summary' => 'August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Those Indian companies include Cipla, Hetero and Mylan. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the department Santosh KC informed New Business Age that the representatives of those companies in Nepal can now import Remdesivir injection for the treatment of Covid-19 patients. The department has already prepared a work procedure for the import of the medicine.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although Remdesivir is used in emergency cases, it is not proved an effective drug against Covid-19. Therefore, the department had to prepare a work procedure for its import. It took more than two months for the companies to get the permission to supply the drug.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department informed that it had to get approval from the health ministry to implement the work procedure, so it took some time.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department had sought permission from the ministry to import Remdesivir and Favipiravir on June 24. But the ministry approved import of only Remdesivir.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Altogether nine companies had filed application to supply the medicine out of which the department selected three 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:"Arial Unicode MS"">Nepal Health Research Council had sent a letter to the department on Saturday to allow the import of Remdesivir for clinical trial on Covid-19 patients who are in critical condition. The department granted permission for the import after receiving the letter.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-17', 'modified' => '2020-08-17', 'keywords' => '', 'description' => '', 'sortorder' => '12085', 'image' => '20200817052454_1597613342.Clipboard04.jpg', 'article_date' => '2020-08-17 17:24:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12337', 'article_category_id' => '1', 'title' => 'Profit and Premium Collection of Life Insurance Companies Decline', 'sub_title' => '', 'summary' => 'August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. The growth rate and the profit of life insurance companies have decreased in the Fiscal Year 2076/77.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The profits of life insurance companies had increased by 16 per cent in the FY 2075/76 whereas the average profit of the life insurance companies was only about 5 per cent in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Eighteen out of the nineteen private life insurance companies have published their fourth quarterly report on Sunday.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">According to the published financial statements, the eighteen life insurance companies had earned a net profit of rupees 3.19 billion in the FY 2075/76. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">But the profits of four companies have decreased in the last fiscal year, according to the report. The financial statements of Met Life shows that its profit has decreased by 41.24 per cent. Similarly, the profit of Prime Life has decreased by 4.63 per cent, LIC by 25.88 per cent and Sanima Life by 4.26 per cent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Life Insurance seems to be ahead when it comes to earning profit in the last fiscal year. The company has earned a profit of rupees 530.3 million in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The growth rate of insurance premium collection has also declined. The rate of premium collection increased by 21.28 per cent in the FY 2076/77 when it had increased by 46 per cent in the FY 2075/76.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Met Life’s insurance premium has declined by 1.68 per cent while the rest of the companies have increased their premium collection. Met Life collected a total premium of Rs 4.21 billion in the previous fiscal year. However, their premium collection decreased to rupees 4.14 billion in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Life is in the frontline in terms of collection of premium too. In the year under review, the company had collected a premium of Rs 27.62 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The government had enforced a lockdown from March 24 to July 22. The businesses of the life insurance companies had increased highly in this period of time. Raju Raman Poudel, the director of the Insurance Board said that the impact of coronavirus as shown in the financial statements of the life insurance companies was less than they had anticipated. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“The businesses of life insurance was booming before the lockdown. We had predicted that the businesses would be largely affected in the three-month lockdown,” he said, “However, that didn’t happen.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Similarly, Shivanath Pandey, the chairman of Nepal Insurers’ Association, stated that the life insurance companies have not been highly impacted despite of the decline in their profits. “There have been impacts. We were not able to maintain the growth rates of the previous fiscal years because of the lockdown,” he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He expressed that the life insurance companies were not affected very badly because of their long-term investments. However, the companies believed that the upcoming days would be more challenging for the life insurance sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Insurance agents have to physically visit the customers’ residences. Poudel, the executive director of the board, expressed that this was also the reason why it was very challenging to conduct the businesses of life insurance during the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“Insurance agents have to go from residence to residence to get clients,” he said, “But it is not possible to do this because of the virus. This has affected the business.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Pandey, the chairman of the association, also agreed that the upcoming days would be challenging. “Our main source of income is the interest from banks. We have invested approximately rupees 300 billion in banks. The banks have reduced their interest rates right now,” he said, “It will be very challenging for us to earn profits in the future due to this situation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-17', 'modified' => '2020-08-17', 'keywords' => '', 'description' => '', 'sortorder' => '12084', 'image' => '20200817035538_1597613715.Clipboard06.jpg', 'article_date' => '2020-08-17 15:55:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12351', 'article_category_id' => '1', 'title' => 'Government Denies Permission for Procurement of Chemical Fertilizers', 'sub_title' => '', 'summary' => 'August 20: Ministry of Agriculture and Livestock Development has denied permission to the concerned state-owned corporations to issue tender notice for the purchase of chemical fertilisers, thereby delaying the procurement process.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 20: Ministry of Agriculture and Livestock Development has denied permission to the concerned state-owned corporations to issue tender notice for the purchase of chemical fertilisers, thereby delaying the procurement process.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The ministry denied permission to the Salt Trading Corporation and Krishi Samagri Company from issuing tender bids for the purchase of fertilizers in 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:"Arial Unicode MS"">The ministry should have given permission to these two corporations by mid-August to procure fertilizers for the second quarter of the current fiscal year. But the corporations have not received approval from the ministry so far.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This is expected to cause shortage of chemical fertilizers during the wheat planting season later in the year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson of Salt Trading Corporation Kumar Raj Bhandari informed New Business Age that the process of procuring chemical fertilizers has been affected due to the delay in government granting permission for the purchase.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We have sought permission from the ministry to issue tender notice time and again but the ministry has ignored our plea,” said Bhandari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Salt Trading Corporation has been authorized to purchase 30 percent of fertilizers and Krishi Samagri Company 70 percent on behalf of the government. They then sell the fertilziers to the farmers at subsidized rate.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Salt Trading has received permission to purchase 30,000 metric tons of Urea, 40,000 metric tons of DAP and 5,000 metric tons of Potassium for the first quarter of 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:"Arial Unicode MS"">Meanwhile, chief of Krishi Samagri Company Netra Bhandari also confirmed that the ministry has denied permission for issuing tender for the purchase of fertilizers for the second quarter.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">On the other hand, secretary at the Ministry of Agriculture and Livestock Development Rajendra Prasad Bhari told New Business Age that he was not aware about the delay in granting permission to the corporations for purchasing 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:"Arial Unicode MS"">However, spokesperson at the ministry Dr Hari Bahadur KC said that the guidelines for subsidized fertilizers is in the process of being approved, causing delay in granting permission for the procurement.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-20', 'modified' => '2020-08-20', 'keywords' => '', 'description' => '', 'sortorder' => '12098', 'image' => '20200820110531_7613093.Clipboard02.jpg', 'article_date' => '2020-08-20 11:05:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12349', 'article_category_id' => '1', 'title' => 'Covid-19 Pandemic Delays Sale of Habib’s Shares in HBL to CDC', 'sub_title' => 'Plans of Merger Will Not Affect the Agreement: HBL', 'summary' => 'August 19: Commonwealth Development Corporation Group (CDC) of the UK had reached an understanding with Pakistan’s Habib Bank to purchase 20 per cent of the latter’s stake in Himalayan Bank Limited (HBL). ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">August 19: Commonwealth Development Corporation Group (CDC) of the UK had reached an understanding with Pakistan’s Habib Bank to purchase 20 per cent of the latter’s stake in Himalayan Bank Limited (HBL). But it had to postpone the decision due to the Covid-19 pandemic. </span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Earlier, CDC had announced in mid-January after its annual general meeting that it will sign the share purchase agreement. However, the bank informed that the agreement has been kept on “hold” for now due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Tulsi Prasad Gautam, chairman of HBL, said that the bank has been notified by the CDC that the share purchase agreement will be put on hold for 2020 as it is not possible for their representatives to travel to Nepal due to the pandemic. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“They need to come to Nepal to fulfill the required arrangements and procedures before purchasing the shares. However, they could not come to Nepal due to the spread of the coronavirus. That’s why the agreement will be put on hold for now,” he said, adding, “The agreement has been deferred for rest of 2020. They have said that the agreement will be taken forward by analyzing the condition of the pandemic.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Ashoke SJB Rana, CEO of HBL, said that 80 percent of the Due Diligence Audit (DDA) of the shares owned by Habib had already been completed before the annual general meeting of last year and that the remaining work would be completed after the AGM. “However, that could not happen immediately. The transfer of share ownership will take time because of the current situation.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The issued capital of Himalayan Bank has become Rs 9.37 billion following the distribution of 10 percent bonus shares after the annual general meeting of FY 2075/76. According to the bank, CDC had agreed to pay Rs 280 per share for the promoter shares owned by Habib. Habib owns 20 percent of the total shares of the bank, which amounts to 10.70 million units of shares.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Habib had first proposed the other promoters of HBL to purchase the shares that they were planning to sell. Habib had made this offer about one and half years ago because legally, the remaining promoters have the first right to buy the shares sold by another promoter. However, Habib made a deal with CDC when the promoter shareholders refused to buy the shares within 45 days of the offer. CDC has 9 percent stake on Habib. The two institutions had already been discussing about trading the shares of Himalayan Bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Himalayan Bank has started preparing for a merger even though the share purchase procedure between CDC and Habib has not been completed. Chairman Gautam informed that the board of directors of the bank have already decided to form a merger committee last Sunday but a minute is yet to be prepared for it. According to him, the merger will not affect the sales of the promoter shares. He added that the new board of directors formed seven months ago created a new merger committee after dissolving the one that was formed a year ago because it had not started any work for mergers and acquisitions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He expressed that the bank is planning to merge with a commercial bank that they can fit in with. According to him, the merger committee is trying to coordinate with various banks before submitting the names of three most suitable banks to the board. The bank will go for a merger after the board discusses their options and chooses the most appropriate commercial bank. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“It is not appropriate for others to suggest whom we should merge with,” he told New Business Age, adding, “The merger may happen with any bank except government-owned bank and Standard Chartered Bank Nepal.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank has used the monetary policy to compel commercial banks, especially the ones with cross holdings to acquire or be acquired by another bank. This is why commercial banks are under pressure to enter into mergers.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12097', 'image' => '20200819035328_1597786557.d.jpg', 'article_date' => '2020-08-19 15:52:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12350', 'article_category_id' => '1', 'title' => 'COVID-19 Infection Boosts the Market of Sanitizer ', 'sub_title' => '', 'summary' => 'August 19: While the overall industries of the country have been weakened by the impact of coronavirus, the market of sanitizer has skyrocketed in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">August 19: While the overall industries of the country have been weakened by the impact of coronavirus, the market of sanitizer has skyrocketed in Nepal. Many domestic pharmaceutical companies have started production of sanitizers after its demand increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON), 30 industries are currently producing sanitizers commercially. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“Its use has increased as the coronavirus infection has been spread massively. Most of the pharmaceutical companies have started its production as the demand in the market has gone up,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although the Drug Act defines sanitizers as medicines, its production was neglected. The government had paved the way for the production of sanitizer by issuing a guideline in May 2017. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The guideline has given the responsibility of regulating the production standard and quality of sanitizers to the Department of Drug Administration. DDA decided to allow the pharmaceutical industries to make sanitizers after a nationwide lockdown imposed from March 24 to control the infection. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According Santosh KC, spokesperson of DDA, 40 industries in the country have already taken permission to produce sanitizers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Industrialists estimate that the market of sanitizer in Nepal has reached Rs 500 million since the beginning of the coronavirus infection. They expect the demand for sanitizers to increase further. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the customs department, 530,000 liters of sanitizer worth Rs 245.4 million was imported from India and China in the last Fiscal Year 2076/77. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12096', 'image' => '20200819045525_1597786264.Clipboard11.jpg', 'article_date' => '2020-08-19 16:54:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12348', 'article_category_id' => '1', 'title' => 'Provincial Governments, Local Units Seek Rs 450 Million to Fight Covid-19 Pandemic', 'sub_title' => '', 'summary' => 'August 19: With the increase in number of Covid-19 cases across the country, the provincial governments and the local units have sought financial support from the federal government for the prevention of the disease and treatment of patients.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: With the increase in number of Covid-19 cases across the country, the provincial governments and the local units have sought financial support from the federal government for the prevention of the disease and treatment of patients.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Altogether 92 local units of all seven provinces have asked for Rs 450 million from the government to set up ventilators, procure PCR machines and build isolation wards.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has formed a management committee headed by the Vice President of the National Planning Commission for mobilizing the Covid-19 Emergency Fund. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Financial Comptroller General Gopi Nath Mainali, who is also a member of the committee, told New Business Age that they have to analyze the requirements before releasing such a large amount.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We will release the fund to the local units as well as provincial governments after ascertaining the number of ventilators and PCR machines required,” said Mainali.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Financial Comptroller General’s Office, the fund has so far collected Rs 2.73 billion and has already spent Rs 1.9 billion. The committee is preparing to bankroll the amount to the local units and provincial governments from the remaining Rs 1.64 billion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> The Financial Comptroller General’s Office said that the federal government has already provided financial assistance to the hospitals of provinces and local levels to fight the pandemic before.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12095', 'image' => '20200819032227_coronavirus-4833754_1920 2.jpg', 'article_date' => '2020-08-19 15:21:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12347', 'article_category_id' => '1', 'title' => 'Government Lags Behind in Establishing New Industrial Estates', 'sub_title' => '', 'summary' => 'August 19: The government has failed to construct even the basic facilities for new industrial estates even five years after starting the project.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 19: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has failed to construct even the basic facilities for new industrial estates even five years after starting the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had announced plans to build the industrial estates in 2015. It has already initiated the work but the construction has been delayed inordinately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government since starting the expansion of industrial estates five years ago has been able to finish only preparing the Detailed Project Report (DPR), land purchase and compensation distribution, as well as the Environmental Impact Assessment (EIA) of the sites in Damak of Jhapa, Mayurdhap of Makwanpur, Shaktikhor of Chitwan, Motipur of Rupandehi, Naubasta of Banke and Daichi of Kanchanpur.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Despite the lackluster progress, government officials inform that necessary infrastructures are being built in the industrial areas.</span></span></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"> Nanda Kishore Basnet, chairman of the Industrial District Management Limited, informed that the foundation stones at all the proposed industrial areas have been laid in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, he added that it would take the government additional two years to complete the construction of basic infrastructures such as roads, electricity, water and fencing.</span></span></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">Balaju Industrial Estate was established for the first time in Nepal about 58 years ago. Since then, the government has established 10 industrial estates across the country. The last of them was set up more than 34 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:Calibri">It has taken decades for the government to set up new industrial estates. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12094', 'image' => '20200819013035_1597786507.Clipboard12.jpg', 'article_date' => '2020-08-19 13:29:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12346', 'article_category_id' => '1', 'title' => 'Government Appoints Dahal as Chairman of Revenue Board', 'sub_title' => '', 'summary' => 'August 19: The government has appointed former secretary Mahesh Dahal as the chairman of the newly formed Revenue Board. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: The government has appointed former secretary Mahesh Dahal as the chairman of the newly formed Revenue Board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance has established this board to resolve the disputes related to revenue and to provide policy-level suggestions to the ministry. The Council of Ministers on Monday (August 17) appointed Dahal as the chairman of the board upon the recommendation of the ministry.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Revenue Board was formed after a long preparation. Before the formation of the board, there wasn’t any permanent mechanism to deal with revenue-related disputes.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In lack of such mechanism, a Revenue Advisory Committee headed by the revenue secretary used to collect suggestions related to revenue every year before the announcement of annual budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the formation of the board, all such issues will be handled by the board itself. The board will regularly provide suggestions to the government and also conduct study and research on issues related to revenue. It will also deal with revenue collection and its management as well as controlling the leakage.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">After his appointment, Dahal said he would fulfill his duties to the best of his ability. He added that the will take the private sector in confidence while increasing revenue and in dealing with controversial issues.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The cabinet has also appointed Nirmal Hari Adhikari as a member of the board. Adhikari had retired from government service as a joint secretary at the finance ministry. The post of another member of the board is currently vacant.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The board consists of a chairman and two members only. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Dahal and Adhikari were the only contenders for their respective posts.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The concept of Revenue Board was envisaged by the then UML government 24 years ago. In 1996, the then finance minister Bharat Mohan Adhikari had announced the formation of the board.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Later, the proposal to form the board was backed by finance ministers Baburam Bhattarai, Ram Sharan Mahat, Krishna Bahadur Mahara as well as Bishnu Poudel but they failed to implement it.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The incumbent Finance Minister Yuba Raj Khatiwada had expedited the process of formation of the board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The present government had announced to replace the Revenue Advisory Committee by the Revenue Board.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12093', 'image' => '20200819124754_1597786663.Mahesh Dahal.jpg', 'article_date' => '2020-08-19 12:47:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12345', 'article_category_id' => '1', 'title' => 'Government Authorities Issue Week-Long Prohibitory Order in the Capital', 'sub_title' => '', 'summary' => 'August 19: Government authorities have decided to impose a week-long prohibitory order in the capital from Wednesday midnight (August 19). ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: Government authorities have decided to impose a week-long prohibitory order in the capital from Wednesday midnight (August 19). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A meeting of the chief district officers and security chiefs of Kathmandu, Lalitpur and Bhaktapur on Tuesday (August 18) decided to issue the prohibitory order to contain the rapid surge of Covid-19 infection in the valley. The prohibitory order will remain in effect till August 26. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">All services except essential and emergency will remain suspended for a 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:"Arial Unicode MS"">According to the District Administration Office, Kathmandu, only vehicles transporting food items, medicines, security personnel and ambulances will be allowed to operate during this period. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This decision was taken after the Council of Ministers authorised the chief district officers to issue prohibitory order if required to contain the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Coronavirus has been spreading fast in the capital after the government eased the lockdown 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:"Arial Unicode MS""> The valley reported 205 new cases of coronavirus on Tuesday alone. As of Tuesday evening, the total number of Covid-19 cases in the capital has reached 2339, according to the Ministry of Health and Population. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12092', 'image' => '20200819114629_1597767940.jpg', 'article_date' => '2020-08-19 11:45:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12344', 'article_category_id' => '1', 'title' => 'NEA’s Net Profit Soars Despite Lockdown', 'sub_title' => '', 'summary' => 'August 18: The net profit of Nepal Electricity Authority (NEA) increased in the last fiscal year 2019/20 amid coronavirus crisis. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">August 18: The net profit of Nepal Electricity Authority (NEA) increased in the last fiscal year 2019/20 amid coronavirus crisis. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">According to the state-owned utility, its net profit increased by 12.64 percent during the review period. The net profit of NEA in FY 2018/19 was Rs 9.84 billion , which rose to Rs 11.5 billion in FY 2019/20. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NEA claimed that its profit was the highest among the government-run corporations. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Its accrued loss which was Rs 12.37 billion also came down to Rs 4.86 billion in the last 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:"Bangla MN"">The electricity consumption had reduced during the four-month long lockdown period. NEA was also unable to collect electricity fare during the period. In such context, NEA was expecting its profit to shrink. But statistics show its profit increased instead of declining.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Speaking at a virtual conference organised on the occasion of the 35<sup>th</sup> anniversary of NEA, Energy Minister Barsha Man Pun said it was praiseworthy for an institution which was on the verge of privatization to make maximum profit.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Minister Pun added that the government has facilitated NEA to have access to the international market by granting permission for cross-border energy trade. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12091', 'image' => '20200818043659_1597700431.Clipboard08.jpg', 'article_date' => '2020-08-18 16:36:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12342', 'article_category_id' => '1', 'title' => 'Nepal Bankers’ Association urges Customers to Promote Digital Banking', 'sub_title' => '', 'summary' => 'August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Issuing a statement on Monday, the association urged the customers not to visit any branch of banks unless it is urgent. Instead, it has requested everyone to use digital banking service. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In the statement, Nepal Bankers’ Association has appealed to all its customers to prioritize electronic transaction to minimize the risk of Covid-19 transmission, which has taken the form of a pandemic.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The association stressed on the need of digital banking from home to protect onself and others from coronavirus.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The statement mentions that one can easily deposit or transfer money in bank accounts from home or avail details of transaction through the use of digital banking. In such context, it is advisable to promote the use of digital banking, the statement said.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The customers can call the banks or the respective branches if there is any problem in digital banking or for changing the password, reads the statement.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12090', 'image' => '20200818021020_960x0.jpg', 'article_date' => '2020-08-18 14:09:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12343', 'article_category_id' => '1', 'title' => 'realme Launches 4 New AIoT Devices ', 'sub_title' => '', 'summary' => 'August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. The company in a press statement informed that the new devices include the realme Band, realme Buds Air, realme Buds Air Neo, and realme watch. According to a statement issued by the company, the devices will be available at over 950 retailers and ecommerce site Daraz. </span></span></p> <p><span style="font-size:18px"><strong><span style="font-family:Cambria">realme Watch</span></strong></span></p> <p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/watch3.jpeg" style="height:480px; width:480px" /></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company said that Realme’s first-ever smartwatch features a 3.5cm color touch display with Corning Gorilla Glass protection. The Realme watch offers 380nits of brightness with 10 levels of brightness adjustment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“The display is capable of producing vivid colors and great image quality which makes for a great visual experience in a smartwatch at its price range,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Apart from its superb display, the smartwatch also comes with GOODiX PPG heart rate sensor for accurate heart rate information and blood oxygen monitor. “Users can also enjoy the smart notification feature, dozens of watch faces to suit each individual’s style, IoT SmartConnect, is IP68 water-resistant with 14 different sport modes,” the company stated. </span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Band</span></span></strong></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria"><img alt="" src="/app/webroot/userfiles/images/band1.jpeg" style="height:480px; width:480px" /></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to realme, the band is elegantly designed around its large 2.4cm screen capable of producing 65,000 colors. “With the virtual button, users can scroll through the interface, turn pages, and other basic interactive functions without the need of a smartphone for utmost convenience,” said the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The realme band also features 24-hour heart rate sensor, smart notifications, a healthy selection of watch faces, 9 different sports modes including cricket, and is IP68 water-resistant. It also features USB direct charging which includes data transmission without the need to carry around a charging/data cable.</span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air Neo</span></span></strong></p> <p><img alt="" src="/app/webroot/userfiles/images/buds4%281%29.jpeg" style="height:480px; width:480px" /></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company claimed that the buds air neo offers a truly wireless music listening experience with an excellent battery life of around 17 hours and great sound quality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“It’s 13mm large drivers and an advanced LCP multilayer composite diaphragm ensures rich bass reproduction with bright treble and no harshness,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The realme exclusive custom R1 chip brings wireless connectivity experience to a new level. According to the statement, the buds air neo also comes equipped with gaming mode, which reduces the delay by 51 percent to an amazing 119.3ms. These buds are also IPX4 rated for added protection against water.</span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air</span></span></strong></p> <p><img alt="" src="/app/webroot/userfiles/images/neo5%281%29.jpeg" style="height:480px; width:480px" /></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company said that the Realme buds air is for those who want the best TWS air buds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Apart from the super low latency, great audio quality, excellent battery life, and the realme exclusive R1 chip, the realme Buds Air offer wireless charging support, environment noise cancellation, and smart in-ear detection,” reads the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to the company, these features bring out the true potential of TWS buds in the market making them one of the best options for wireless music lovers out there. Colour options include black, white, and realme’s iconic yellow. </span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">Products Price Colour Options </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme watch Rs 7,799 Black </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme band Rs 2,999 Black </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air neo Rs 5,599 White </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air Rs 6,999 Black, White, Yellow </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p> </p> </td> </tr> </tbody> </table> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12089', 'image' => '20200818025753_gbePFLfn_400x400.jpg', 'article_date' => '2020-08-18 14:54:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12341', 'article_category_id' => '1', 'title' => 'Local Products Get Good Market after Closure of Nepal-India Border ', 'sub_title' => '', 'summary' => 'August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">This has discouraged the practice of going across the border to the Indian markets from Biratnagar and Kakadvitta in Province 1 since the last four months. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Prior to the lockdown, customers from Nepal used to spend an average of Rs 50 million per day and Rs 1.5 billion every month in the Indian markets adjoined to 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:"Times New Roman"">Amit Sharma, an operator of a grocery shop at Biratnagar-4, Kanchanbari said that it has been four months since he started selling Nepali products only. He has kept Nepali products in his shop after the Indian goods from across the border stopped coming after the border was closed due to the lockdown. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">“Nepali businessmen have not been able to export their products. Items such as biscuits, noodles, oil, lentils, and rice are mostly consumed here,” he said. While he used to sell products worth Rs 20,000 on a daily basis, he said he has been selling products worth Rs 40,000 these days after the lockdown was imposed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the president of Birat Merchant Association, Sujan Thapa, the demand of sugar, oil, lentils, vegetables, fish, meat, rice, biscuits, and flour produced in Nepal has increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Of late, Bhat Bhateni Supermarket in Biratnagar has been selling 98% of vegetables grown in Nepal. Apart from potatoes and onion, they have been selling all the vegetables from the farmers 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:"Times New Roman"">Binod Bhattarai, manager of Bhat Bhateni Supermarket, said that the produce of Nepali farmers have received a good market as well as better price after the border was closed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to him, sales of Nepali products in Bhat Bhateni have been increased by 50% during the lockdown. He further said that they have given priority to the local products of Province 1 such as Rumpum noodles, Century spices, and Goodlife biscuits. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12088', 'image' => '20200818015405_combo3.jpg', 'article_date' => '2020-08-18 13:53:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12340', 'article_category_id' => '1', 'title' => 'Demand for Drugs Declines in Nepal ', 'sub_title' => '', 'summary' => 'August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Drug manufacturers say that the demand for medicine has declined because patients have stopped visiting hospitals and private clinics due to fear of coronavirus transmission.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Pharmacists claim that the demand for medicines has come down by up to 70 percent. According to the pharmaceutical companies, the sales of over-the-counter drugs that can be bought without a doctor's prescription have dropped dramatically.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The demand of medicines particularly used for healing wounds, dermatological diseases, painkillers and antibiotics has declined mostly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON) informed that the sales of antibiotics have dropped by almost 40 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">At present, the demand for medicines other than those for chronic diseases has decreased, says Sitaram Ghimire, president of the Nepal Pharmaceutical Entrepreneurs Association. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">"However, the demand for medicines for chronic diseases remains the same. The demand for medicines for chronic diseases including asthma, cancer, tuberculosis, diabetes, hypertension and thyroid has not decreased,” informed Ghimire. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that the demand for psychiatric drugs has increased drastically due to the impact of Covid-19 and the subsequent lockdown.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12087', 'image' => '20200818124630_1597700501.Clipboard10.jpg', 'article_date' => '2020-08-18 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12339', 'article_category_id' => '1', 'title' => 'NAC Prepares Business Plan to Purchase 5 Aircraft for Domestic Flights', 'sub_title' => '', 'summary' => 'August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The NAC is preparing to submit is business plan for a strong presence in the domestic market to the tourism ministry.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Although the business plan has strategies to reinforce NAC’s dominance in the domestic market, it does not mention anything about the management of the grounded Chinese aircraft. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The business plan only mentions that the NAC intends to buy the new aircraft to make a strong presence in the domestic 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:"Bangla MN"">Executive Chairman of NAC, Sushil Ghimire, informed New Business Age that they are preparing to submit the proposal for the purchase of five aircraft in the first phase. In the business plan, NAC has demanded Rs 7 billion for the procurement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Ghimire clarified that they have come up with a new business plan after incurring heavy loss while operating the Chinese aircraft. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The state-owned airline company had drawn immense criticism for purchasing the Chinese aircraft under political influence and without conducting adequate study. A board meeting of NAC on July 30 decided to permanently ground the China-made aircraft to avoid further losses.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC incurred losses of more than Rs 2.3 billion while operating the Chinese aircraft for the last five years.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC has four Y-12 and two MA-60 aircraft manufactured in China. But the flag carrier of Nepal is providing domestic service with two twin otters after grounding the other six aircraft. Another twin otter is currently under maintenance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Private airline companies operate flights to those destinations where they can make quick money. That is quite natural,” says Ghimire, adding, “But NAC has to fulfill its social obligation by operating flights to those destinations that are not commercially viable. We have to provide service to the remote areas to strengthen our presence.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC has only 3 per cent stake in the domestic market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12086', 'image' => '20200818113536_1597700737.Clipboard07a.jpg', 'article_date' => '2020-08-18 11:34:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12338', 'article_category_id' => '1', 'title' => 'DDA Gives Permission for Import of Remdesivir for ‘Clinical Trial’', 'sub_title' => '', 'summary' => 'August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Those Indian companies include Cipla, Hetero and Mylan. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the department Santosh KC informed New Business Age that the representatives of those companies in Nepal can now import Remdesivir injection for the treatment of Covid-19 patients. The department has already prepared a work procedure for the import of the medicine.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although Remdesivir is used in emergency cases, it is not proved an effective drug against Covid-19. Therefore, the department had to prepare a work procedure for its import. It took more than two months for the companies to get the permission to supply the drug.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department informed that it had to get approval from the health ministry to implement the work procedure, so it took some time.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department had sought permission from the ministry to import Remdesivir and Favipiravir on June 24. But the ministry approved import of only Remdesivir.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Altogether nine companies had filed application to supply the medicine out of which the department selected three 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:"Arial Unicode MS"">Nepal Health Research Council had sent a letter to the department on Saturday to allow the import of Remdesivir for clinical trial on Covid-19 patients who are in critical condition. The department granted permission for the import after receiving the letter.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-17', 'modified' => '2020-08-17', 'keywords' => '', 'description' => '', 'sortorder' => '12085', 'image' => '20200817052454_1597613342.Clipboard04.jpg', 'article_date' => '2020-08-17 17:24:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12337', 'article_category_id' => '1', 'title' => 'Profit and Premium Collection of Life Insurance Companies Decline', 'sub_title' => '', 'summary' => 'August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. The growth rate and the profit of life insurance companies have decreased in the Fiscal Year 2076/77.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The profits of life insurance companies had increased by 16 per cent in the FY 2075/76 whereas the average profit of the life insurance companies was only about 5 per cent in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Eighteen out of the nineteen private life insurance companies have published their fourth quarterly report on Sunday.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">According to the published financial statements, the eighteen life insurance companies had earned a net profit of rupees 3.19 billion in the FY 2075/76. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">But the profits of four companies have decreased in the last fiscal year, according to the report. The financial statements of Met Life shows that its profit has decreased by 41.24 per cent. Similarly, the profit of Prime Life has decreased by 4.63 per cent, LIC by 25.88 per cent and Sanima Life by 4.26 per cent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Life Insurance seems to be ahead when it comes to earning profit in the last fiscal year. The company has earned a profit of rupees 530.3 million in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The growth rate of insurance premium collection has also declined. The rate of premium collection increased by 21.28 per cent in the FY 2076/77 when it had increased by 46 per cent in the FY 2075/76.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Met Life’s insurance premium has declined by 1.68 per cent while the rest of the companies have increased their premium collection. Met Life collected a total premium of Rs 4.21 billion in the previous fiscal year. However, their premium collection decreased to rupees 4.14 billion in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Life is in the frontline in terms of collection of premium too. In the year under review, the company had collected a premium of Rs 27.62 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The government had enforced a lockdown from March 24 to July 22. The businesses of the life insurance companies had increased highly in this period of time. Raju Raman Poudel, the director of the Insurance Board said that the impact of coronavirus as shown in the financial statements of the life insurance companies was less than they had anticipated. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“The businesses of life insurance was booming before the lockdown. We had predicted that the businesses would be largely affected in the three-month lockdown,” he said, “However, that didn’t happen.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Similarly, Shivanath Pandey, the chairman of Nepal Insurers’ Association, stated that the life insurance companies have not been highly impacted despite of the decline in their profits. “There have been impacts. We were not able to maintain the growth rates of the previous fiscal years because of the lockdown,” he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He expressed that the life insurance companies were not affected very badly because of their long-term investments. However, the companies believed that the upcoming days would be more challenging for the life insurance sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Insurance agents have to physically visit the customers’ residences. Poudel, the executive director of the board, expressed that this was also the reason why it was very challenging to conduct the businesses of life insurance during the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“Insurance agents have to go from residence to residence to get clients,” he said, “But it is not possible to do this because of the virus. This has affected the business.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Pandey, the chairman of the association, also agreed that the upcoming days would be challenging. “Our main source of income is the interest from banks. We have invested approximately rupees 300 billion in banks. The banks have reduced their interest rates right now,” he said, “It will be very challenging for us to earn profits in the future due to this situation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-17', 'modified' => '2020-08-17', 'keywords' => '', 'description' => '', 'sortorder' => '12084', 'image' => '20200817035538_1597613715.Clipboard06.jpg', 'article_date' => '2020-08-17 15:55:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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But the corporations have not received approval from the ministry so far.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This is expected to cause shortage of chemical fertilizers during the wheat planting season later in the year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson of Salt Trading Corporation Kumar Raj Bhandari informed New Business Age that the process of procuring chemical fertilizers has been affected due to the delay in government granting permission for the purchase.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We have sought permission from the ministry to issue tender notice time and again but the ministry has ignored our plea,” said Bhandari.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Salt Trading Corporation has been authorized to purchase 30 percent of fertilizers and Krishi Samagri Company 70 percent on behalf of the government. They then sell the fertilziers to the farmers at subsidized rate.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Salt Trading has received permission to purchase 30,000 metric tons of Urea, 40,000 metric tons of DAP and 5,000 metric tons of Potassium for the first quarter of 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:"Arial Unicode MS"">Meanwhile, chief of Krishi Samagri Company Netra Bhandari also confirmed that the ministry has denied permission for issuing tender for the purchase of fertilizers for the second quarter.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">On the other hand, secretary at the Ministry of Agriculture and Livestock Development Rajendra Prasad Bhari told New Business Age that he was not aware about the delay in granting permission to the corporations for purchasing 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:"Arial Unicode MS"">However, spokesperson at the ministry Dr Hari Bahadur KC said that the guidelines for subsidized fertilizers is in the process of being approved, causing delay in granting permission for the procurement.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-20', 'modified' => '2020-08-20', 'keywords' => '', 'description' => '', 'sortorder' => '12098', 'image' => '20200820110531_7613093.Clipboard02.jpg', 'article_date' => '2020-08-20 11:05:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12349', 'article_category_id' => '1', 'title' => 'Covid-19 Pandemic Delays Sale of Habib’s Shares in HBL to CDC', 'sub_title' => 'Plans of Merger Will Not Affect the Agreement: HBL', 'summary' => 'August 19: Commonwealth Development Corporation Group (CDC) of the UK had reached an understanding with Pakistan’s Habib Bank to purchase 20 per cent of the latter’s stake in Himalayan Bank Limited (HBL). ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">August 19: Commonwealth Development Corporation Group (CDC) of the UK had reached an understanding with Pakistan’s Habib Bank to purchase 20 per cent of the latter’s stake in Himalayan Bank Limited (HBL). But it had to postpone the decision due to the Covid-19 pandemic. </span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Earlier, CDC had announced in mid-January after its annual general meeting that it will sign the share purchase agreement. However, the bank informed that the agreement has been kept on “hold” for now due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Tulsi Prasad Gautam, chairman of HBL, said that the bank has been notified by the CDC that the share purchase agreement will be put on hold for 2020 as it is not possible for their representatives to travel to Nepal due to the pandemic. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“They need to come to Nepal to fulfill the required arrangements and procedures before purchasing the shares. However, they could not come to Nepal due to the spread of the coronavirus. That’s why the agreement will be put on hold for now,” he said, adding, “The agreement has been deferred for rest of 2020. They have said that the agreement will be taken forward by analyzing the condition of the pandemic.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Ashoke SJB Rana, CEO of HBL, said that 80 percent of the Due Diligence Audit (DDA) of the shares owned by Habib had already been completed before the annual general meeting of last year and that the remaining work would be completed after the AGM. “However, that could not happen immediately. The transfer of share ownership will take time because of the current situation.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The issued capital of Himalayan Bank has become Rs 9.37 billion following the distribution of 10 percent bonus shares after the annual general meeting of FY 2075/76. According to the bank, CDC had agreed to pay Rs 280 per share for the promoter shares owned by Habib. Habib owns 20 percent of the total shares of the bank, which amounts to 10.70 million units of shares.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Habib had first proposed the other promoters of HBL to purchase the shares that they were planning to sell. Habib had made this offer about one and half years ago because legally, the remaining promoters have the first right to buy the shares sold by another promoter. However, Habib made a deal with CDC when the promoter shareholders refused to buy the shares within 45 days of the offer. CDC has 9 percent stake on Habib. The two institutions had already been discussing about trading the shares of Himalayan Bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Himalayan Bank has started preparing for a merger even though the share purchase procedure between CDC and Habib has not been completed. Chairman Gautam informed that the board of directors of the bank have already decided to form a merger committee last Sunday but a minute is yet to be prepared for it. According to him, the merger will not affect the sales of the promoter shares. He added that the new board of directors formed seven months ago created a new merger committee after dissolving the one that was formed a year ago because it had not started any work for mergers and acquisitions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He expressed that the bank is planning to merge with a commercial bank that they can fit in with. According to him, the merger committee is trying to coordinate with various banks before submitting the names of three most suitable banks to the board. The bank will go for a merger after the board discusses their options and chooses the most appropriate commercial bank. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“It is not appropriate for others to suggest whom we should merge with,” he told New Business Age, adding, “The merger may happen with any bank except government-owned bank and Standard Chartered Bank Nepal.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank has used the monetary policy to compel commercial banks, especially the ones with cross holdings to acquire or be acquired by another bank. This is why commercial banks are under pressure to enter into mergers.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12097', 'image' => '20200819035328_1597786557.d.jpg', 'article_date' => '2020-08-19 15:52:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12350', 'article_category_id' => '1', 'title' => 'COVID-19 Infection Boosts the Market of Sanitizer ', 'sub_title' => '', 'summary' => 'August 19: While the overall industries of the country have been weakened by the impact of coronavirus, the market of sanitizer has skyrocketed in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">August 19: While the overall industries of the country have been weakened by the impact of coronavirus, the market of sanitizer has skyrocketed in Nepal. Many domestic pharmaceutical companies have started production of sanitizers after its demand increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON), 30 industries are currently producing sanitizers commercially. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“Its use has increased as the coronavirus infection has been spread massively. Most of the pharmaceutical companies have started its production as the demand in the market has gone up,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although the Drug Act defines sanitizers as medicines, its production was neglected. The government had paved the way for the production of sanitizer by issuing a guideline in May 2017. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The guideline has given the responsibility of regulating the production standard and quality of sanitizers to the Department of Drug Administration. DDA decided to allow the pharmaceutical industries to make sanitizers after a nationwide lockdown imposed from March 24 to control the infection. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According Santosh KC, spokesperson of DDA, 40 industries in the country have already taken permission to produce sanitizers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Industrialists estimate that the market of sanitizer in Nepal has reached Rs 500 million since the beginning of the coronavirus infection. They expect the demand for sanitizers to increase further. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the customs department, 530,000 liters of sanitizer worth Rs 245.4 million was imported from India and China in the last Fiscal Year 2076/77. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12096', 'image' => '20200819045525_1597786264.Clipboard11.jpg', 'article_date' => '2020-08-19 16:54:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12348', 'article_category_id' => '1', 'title' => 'Provincial Governments, Local Units Seek Rs 450 Million to Fight Covid-19 Pandemic', 'sub_title' => '', 'summary' => 'August 19: With the increase in number of Covid-19 cases across the country, the provincial governments and the local units have sought financial support from the federal government for the prevention of the disease and treatment of patients.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: With the increase in number of Covid-19 cases across the country, the provincial governments and the local units have sought financial support from the federal government for the prevention of the disease and treatment of patients.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Altogether 92 local units of all seven provinces have asked for Rs 450 million from the government to set up ventilators, procure PCR machines and build isolation wards.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has formed a management committee headed by the Vice President of the National Planning Commission for mobilizing the Covid-19 Emergency Fund. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Financial Comptroller General Gopi Nath Mainali, who is also a member of the committee, told New Business Age that they have to analyze the requirements before releasing such a large amount.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We will release the fund to the local units as well as provincial governments after ascertaining the number of ventilators and PCR machines required,” said Mainali.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Financial Comptroller General’s Office, the fund has so far collected Rs 2.73 billion and has already spent Rs 1.9 billion. The committee is preparing to bankroll the amount to the local units and provincial governments from the remaining Rs 1.64 billion.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> The Financial Comptroller General’s Office said that the federal government has already provided financial assistance to the hospitals of provinces and local levels to fight the pandemic before.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12095', 'image' => '20200819032227_coronavirus-4833754_1920 2.jpg', 'article_date' => '2020-08-19 15:21:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12347', 'article_category_id' => '1', 'title' => 'Government Lags Behind in Establishing New Industrial Estates', 'sub_title' => '', 'summary' => 'August 19: The government has failed to construct even the basic facilities for new industrial estates even five years after starting the project.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Calibri">August 19: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has failed to construct even the basic facilities for new industrial estates even five years after starting the project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government had announced plans to build the industrial estates in 2015. It has already initiated the work but the construction has been delayed inordinately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government since starting the expansion of industrial estates five years ago has been able to finish only preparing the Detailed Project Report (DPR), land purchase and compensation distribution, as well as the Environmental Impact Assessment (EIA) of the sites in Damak of Jhapa, Mayurdhap of Makwanpur, Shaktikhor of Chitwan, Motipur of Rupandehi, Naubasta of Banke and Daichi of Kanchanpur.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Despite the lackluster progress, government officials inform that necessary infrastructures are being built in the industrial areas.</span></span></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"> Nanda Kishore Basnet, chairman of the Industrial District Management Limited, informed that the foundation stones at all the proposed industrial areas have been laid in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, he added that it would take the government additional two years to complete the construction of basic infrastructures such as roads, electricity, water and fencing.</span></span></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">Balaju Industrial Estate was established for the first time in Nepal about 58 years ago. Since then, the government has established 10 industrial estates across the country. The last of them was set up more than 34 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:Calibri">It has taken decades for the government to set up new industrial estates. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12094', 'image' => '20200819013035_1597786507.Clipboard12.jpg', 'article_date' => '2020-08-19 13:29:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12346', 'article_category_id' => '1', 'title' => 'Government Appoints Dahal as Chairman of Revenue Board', 'sub_title' => '', 'summary' => 'August 19: The government has appointed former secretary Mahesh Dahal as the chairman of the newly formed Revenue Board. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: The government has appointed former secretary Mahesh Dahal as the chairman of the newly formed Revenue Board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance has established this board to resolve the disputes related to revenue and to provide policy-level suggestions to the ministry. The Council of Ministers on Monday (August 17) appointed Dahal as the chairman of the board upon the recommendation of the ministry.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Revenue Board was formed after a long preparation. Before the formation of the board, there wasn’t any permanent mechanism to deal with revenue-related disputes.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">In lack of such mechanism, a Revenue Advisory Committee headed by the revenue secretary used to collect suggestions related to revenue every year before the announcement of annual budget.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the formation of the board, all such issues will be handled by the board itself. The board will regularly provide suggestions to the government and also conduct study and research on issues related to revenue. It will also deal with revenue collection and its management as well as controlling the leakage.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">After his appointment, Dahal said he would fulfill his duties to the best of his ability. He added that the will take the private sector in confidence while increasing revenue and in dealing with controversial issues.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The cabinet has also appointed Nirmal Hari Adhikari as a member of the board. Adhikari had retired from government service as a joint secretary at the finance ministry. The post of another member of the board is currently vacant.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The board consists of a chairman and two members only. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Dahal and Adhikari were the only contenders for their respective posts.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The concept of Revenue Board was envisaged by the then UML government 24 years ago. In 1996, the then finance minister Bharat Mohan Adhikari had announced the formation of the board.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Later, the proposal to form the board was backed by finance ministers Baburam Bhattarai, Ram Sharan Mahat, Krishna Bahadur Mahara as well as Bishnu Poudel but they failed to implement it.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The incumbent Finance Minister Yuba Raj Khatiwada had expedited the process of formation of the board. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The present government had announced to replace the Revenue Advisory Committee by the Revenue Board.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12093', 'image' => '20200819124754_1597786663.Mahesh Dahal.jpg', 'article_date' => '2020-08-19 12:47:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12345', 'article_category_id' => '1', 'title' => 'Government Authorities Issue Week-Long Prohibitory Order in the Capital', 'sub_title' => '', 'summary' => 'August 19: Government authorities have decided to impose a week-long prohibitory order in the capital from Wednesday midnight (August 19). ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 19: Government authorities have decided to impose a week-long prohibitory order in the capital from Wednesday midnight (August 19). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A meeting of the chief district officers and security chiefs of Kathmandu, Lalitpur and Bhaktapur on Tuesday (August 18) decided to issue the prohibitory order to contain the rapid surge of Covid-19 infection in the valley. The prohibitory order will remain in effect till August 26. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">All services except essential and emergency will remain suspended for a 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:"Arial Unicode MS"">According to the District Administration Office, Kathmandu, only vehicles transporting food items, medicines, security personnel and ambulances will be allowed to operate during this period. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This decision was taken after the Council of Ministers authorised the chief district officers to issue prohibitory order if required to contain the spread of coronavirus.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Coronavirus has been spreading fast in the capital after the government eased the lockdown 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:"Arial Unicode MS""> The valley reported 205 new cases of coronavirus on Tuesday alone. As of Tuesday evening, the total number of Covid-19 cases in the capital has reached 2339, according to the Ministry of Health and Population. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-19', 'modified' => '2020-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '12092', 'image' => '20200819114629_1597767940.jpg', 'article_date' => '2020-08-19 11:45:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12344', 'article_category_id' => '1', 'title' => 'NEA’s Net Profit Soars Despite Lockdown', 'sub_title' => '', 'summary' => 'August 18: The net profit of Nepal Electricity Authority (NEA) increased in the last fiscal year 2019/20 amid coronavirus crisis. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">August 18: The net profit of Nepal Electricity Authority (NEA) increased in the last fiscal year 2019/20 amid coronavirus crisis. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">According to the state-owned utility, its net profit increased by 12.64 percent during the review period. The net profit of NEA in FY 2018/19 was Rs 9.84 billion , which rose to Rs 11.5 billion in FY 2019/20. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NEA claimed that its profit was the highest among the government-run corporations. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Its accrued loss which was Rs 12.37 billion also came down to Rs 4.86 billion in the last 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:"Bangla MN"">The electricity consumption had reduced during the four-month long lockdown period. NEA was also unable to collect electricity fare during the period. In such context, NEA was expecting its profit to shrink. But statistics show its profit increased instead of declining.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Speaking at a virtual conference organised on the occasion of the 35<sup>th</sup> anniversary of NEA, Energy Minister Barsha Man Pun said it was praiseworthy for an institution which was on the verge of privatization to make maximum profit.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Minister Pun added that the government has facilitated NEA to have access to the international market by granting permission for cross-border energy trade. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12091', 'image' => '20200818043659_1597700431.Clipboard08.jpg', 'article_date' => '2020-08-18 16:36:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12342', 'article_category_id' => '1', 'title' => 'Nepal Bankers’ Association urges Customers to Promote Digital Banking', 'sub_title' => '', 'summary' => 'August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">August 18: Nepal Bankers’ Association has urged all stakeholders to focus on digital banking due to the high risk of Covid-19 infection in banks and financial institutions as a result of overcrowding.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Issuing a statement on Monday, the association urged the customers not to visit any branch of banks unless it is urgent. Instead, it has requested everyone to use digital banking service. </span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">In the statement, Nepal Bankers’ Association has appealed to all its customers to prioritize electronic transaction to minimize the risk of Covid-19 transmission, which has taken the form of a pandemic.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The association stressed on the need of digital banking from home to protect onself and others from coronavirus.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The statement mentions that one can easily deposit or transfer money in bank accounts from home or avail details of transaction through the use of digital banking. In such context, it is advisable to promote the use of digital banking, the statement said.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The customers can call the banks or the respective branches if there is any problem in digital banking or for changing the password, reads the statement.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12090', 'image' => '20200818021020_960x0.jpg', 'article_date' => '2020-08-18 14:09:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12343', 'article_category_id' => '1', 'title' => 'realme Launches 4 New AIoT Devices ', 'sub_title' => '', 'summary' => 'August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">August 18: Chinese gadgets brand realme has launched new AIoT (artificial intelligence of things) products in the Nepali market. The company in a press statement informed that the new devices include the realme Band, realme Buds Air, realme Buds Air Neo, and realme watch. According to a statement issued by the company, the devices will be available at over 950 retailers and ecommerce site Daraz. </span></span></p> <p><span style="font-size:18px"><strong><span style="font-family:Cambria">realme Watch</span></strong></span></p> <p><span style="font-size:18px"><img alt="" src="/app/webroot/userfiles/images/watch3.jpeg" style="height:480px; width:480px" /></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company said that Realme’s first-ever smartwatch features a 3.5cm color touch display with Corning Gorilla Glass protection. The Realme watch offers 380nits of brightness with 10 levels of brightness adjustment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“The display is capable of producing vivid colors and great image quality which makes for a great visual experience in a smartwatch at its price range,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">Apart from its superb display, the smartwatch also comes with GOODiX PPG heart rate sensor for accurate heart rate information and blood oxygen monitor. “Users can also enjoy the smart notification feature, dozens of watch faces to suit each individual’s style, IoT SmartConnect, is IP68 water-resistant with 14 different sport modes,” the company stated. </span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Band</span></span></strong></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria"><img alt="" src="/app/webroot/userfiles/images/band1.jpeg" style="height:480px; width:480px" /></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to realme, the band is elegantly designed around its large 2.4cm screen capable of producing 65,000 colors. “With the virtual button, users can scroll through the interface, turn pages, and other basic interactive functions without the need of a smartphone for utmost convenience,” said the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The realme band also features 24-hour heart rate sensor, smart notifications, a healthy selection of watch faces, 9 different sports modes including cricket, and is IP68 water-resistant. It also features USB direct charging which includes data transmission without the need to carry around a charging/data cable.</span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air Neo</span></span></strong></p> <p><img alt="" src="/app/webroot/userfiles/images/buds4%281%29.jpeg" style="height:480px; width:480px" /></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company claimed that the buds air neo offers a truly wireless music listening experience with an excellent battery life of around 17 hours and great sound quality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“It’s 13mm large drivers and an advanced LCP multilayer composite diaphragm ensures rich bass reproduction with bright treble and no harshness,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The realme exclusive custom R1 chip brings wireless connectivity experience to a new level. According to the statement, the buds air neo also comes equipped with gaming mode, which reduces the delay by 51 percent to an amazing 119.3ms. These buds are also IPX4 rated for added protection against water.</span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:Cambria">realme Buds Air</span></span></strong></p> <p><img alt="" src="/app/webroot/userfiles/images/neo5%281%29.jpeg" style="height:480px; width:480px" /></p> <p><span style="font-size:18px"><span style="font-family:Cambria">The company said that the Realme buds air is for those who want the best TWS air buds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">“Apart from the super low latency, great audio quality, excellent battery life, and the realme exclusive R1 chip, the realme Buds Air offer wireless charging support, environment noise cancellation, and smart in-ear detection,” reads the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria">According to the company, these features bring out the true potential of TWS buds in the market making them one of the best options for wireless music lovers out there. Colour options include black, white, and realme’s iconic yellow. </span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">Products Price Colour Options </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme watch Rs 7,799 Black </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme band Rs 2,999 Black </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air neo Rs 5,599 White </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p><span style="font-size:18px"><span style="font-family:Cambria">realme buds air Rs 6,999 Black, White, Yellow </span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:426px"> <p> </p> </td> </tr> </tbody> </table> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12089', 'image' => '20200818025753_gbePFLfn_400x400.jpg', 'article_date' => '2020-08-18 14:54:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12341', 'article_category_id' => '1', 'title' => 'Local Products Get Good Market after Closure of Nepal-India Border ', 'sub_title' => '', 'summary' => 'August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">August 18: The market for local products of Nepal has increased within the country due to curb on cross-border movement to contain the spread of Coronavirus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">This has discouraged the practice of going across the border to the Indian markets from Biratnagar and Kakadvitta in Province 1 since the last four months. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Prior to the lockdown, customers from Nepal used to spend an average of Rs 50 million per day and Rs 1.5 billion every month in the Indian markets adjoined to 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:"Times New Roman"">Amit Sharma, an operator of a grocery shop at Biratnagar-4, Kanchanbari said that it has been four months since he started selling Nepali products only. He has kept Nepali products in his shop after the Indian goods from across the border stopped coming after the border was closed due to the lockdown. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">“Nepali businessmen have not been able to export their products. Items such as biscuits, noodles, oil, lentils, and rice are mostly consumed here,” he said. While he used to sell products worth Rs 20,000 on a daily basis, he said he has been selling products worth Rs 40,000 these days after the lockdown was imposed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the president of Birat Merchant Association, Sujan Thapa, the demand of sugar, oil, lentils, vegetables, fish, meat, rice, biscuits, and flour produced in Nepal has increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Of late, Bhat Bhateni Supermarket in Biratnagar has been selling 98% of vegetables grown in Nepal. Apart from potatoes and onion, they have been selling all the vegetables from the farmers 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:"Times New Roman"">Binod Bhattarai, manager of Bhat Bhateni Supermarket, said that the produce of Nepali farmers have received a good market as well as better price after the border was closed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to him, sales of Nepali products in Bhat Bhateni have been increased by 50% during the lockdown. He further said that they have given priority to the local products of Province 1 such as Rumpum noodles, Century spices, and Goodlife biscuits. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12088', 'image' => '20200818015405_combo3.jpg', 'article_date' => '2020-08-18 13:53:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12340', 'article_category_id' => '1', 'title' => 'Demand for Drugs Declines in Nepal ', 'sub_title' => '', 'summary' => 'August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">August 18: The overall demand for medicines has been declining in Nepal with the surge of Covid-19 infection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Drug manufacturers say that the demand for medicine has declined because patients have stopped visiting hospitals and private clinics due to fear of coronavirus transmission.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Pharmacists claim that the demand for medicines has come down by up to 70 percent. According to the pharmaceutical companies, the sales of over-the-counter drugs that can be bought without a doctor's prescription have dropped dramatically.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The demand of medicines particularly used for healing wounds, dermatological diseases, painkillers and antibiotics has declined mostly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Deepak Dahal, former president of the Association of Pharmaceutical Producers of Nepal (APPON) informed that the sales of antibiotics have dropped by almost 40 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">At present, the demand for medicines other than those for chronic diseases has decreased, says Sitaram Ghimire, president of the Nepal Pharmaceutical Entrepreneurs Association. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">"However, the demand for medicines for chronic diseases remains the same. The demand for medicines for chronic diseases including asthma, cancer, tuberculosis, diabetes, hypertension and thyroid has not decreased,” informed Ghimire. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that the demand for psychiatric drugs has increased drastically due to the impact of Covid-19 and the subsequent lockdown.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12087', 'image' => '20200818124630_1597700501.Clipboard10.jpg', 'article_date' => '2020-08-18 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12339', 'article_category_id' => '1', 'title' => 'NAC Prepares Business Plan to Purchase 5 Aircraft for Domestic Flights', 'sub_title' => '', 'summary' => 'August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">August 18: Nepal Airlines Corporation (NAC) has initiated the process to purchase five new aircraft for domestic flights after recently grounding its airplanes brought from China by spending billions of rupees.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The NAC is preparing to submit is business plan for a strong presence in the domestic market to the tourism ministry.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Although the business plan has strategies to reinforce NAC’s dominance in the domestic market, it does not mention anything about the management of the grounded Chinese aircraft. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The business plan only mentions that the NAC intends to buy the new aircraft to make a strong presence in the domestic 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:"Bangla MN"">Executive Chairman of NAC, Sushil Ghimire, informed New Business Age that they are preparing to submit the proposal for the purchase of five aircraft in the first phase. In the business plan, NAC has demanded Rs 7 billion for the procurement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Ghimire clarified that they have come up with a new business plan after incurring heavy loss while operating the Chinese aircraft. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The state-owned airline company had drawn immense criticism for purchasing the Chinese aircraft under political influence and without conducting adequate study. A board meeting of NAC on July 30 decided to permanently ground the China-made aircraft to avoid further losses.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC incurred losses of more than Rs 2.3 billion while operating the Chinese aircraft for the last five years.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC has four Y-12 and two MA-60 aircraft manufactured in China. But the flag carrier of Nepal is providing domestic service with two twin otters after grounding the other six aircraft. Another twin otter is currently under maintenance.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Private airline companies operate flights to those destinations where they can make quick money. That is quite natural,” says Ghimire, adding, “But NAC has to fulfill its social obligation by operating flights to those destinations that are not commercially viable. We have to provide service to the remote areas to strengthen our presence.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NAC has only 3 per cent stake in the domestic market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-08-18', 'modified' => '2020-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '12086', 'image' => '20200818113536_1597700737.Clipboard07a.jpg', 'article_date' => '2020-08-18 11:34:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12338', 'article_category_id' => '1', 'title' => 'DDA Gives Permission for Import of Remdesivir for ‘Clinical Trial’', 'sub_title' => '', 'summary' => 'August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">August 17: The Department of Drug Administration has given permission to three Indian companies to supply Remdesivir, a drug used for emergency treatment of Covid-19 patients.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Those Indian companies include Cipla, Hetero and Mylan. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Spokesperson at the department Santosh KC informed New Business Age that the representatives of those companies in Nepal can now import Remdesivir injection for the treatment of Covid-19 patients. The department has already prepared a work procedure for the import of the medicine.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although Remdesivir is used in emergency cases, it is not proved an effective drug against Covid-19. Therefore, the department had to prepare a work procedure for its import. It took more than two months for the companies to get the permission to supply the drug.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department informed that it had to get approval from the health ministry to implement the work procedure, so it took some time.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The department had sought permission from the ministry to import Remdesivir and Favipiravir on June 24. But the ministry approved import of only Remdesivir.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Altogether nine companies had filed application to supply the medicine out of which the department selected three 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:"Arial Unicode MS"">Nepal Health Research Council had sent a letter to the department on Saturday to allow the import of Remdesivir for clinical trial on Covid-19 patients who are in critical condition. The department granted permission for the import after receiving the letter.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-08-17', 'modified' => '2020-08-17', 'keywords' => '', 'description' => '', 'sortorder' => '12085', 'image' => '20200817052454_1597613342.Clipboard04.jpg', 'article_date' => '2020-08-17 17:24:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12337', 'article_category_id' => '1', 'title' => 'Profit and Premium Collection of Life Insurance Companies Decline', 'sub_title' => '', 'summary' => 'August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">August 17: The impact of the four-month long lockdown enforced by the government to control the coronavirus pandemic has also been seen on the insurance sector. The growth rate and the profit of life insurance companies have decreased in the Fiscal Year 2076/77.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The profits of life insurance companies had increased by 16 per cent in the FY 2075/76 whereas the average profit of the life insurance companies was only about 5 per cent in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Eighteen out of the nineteen private life insurance companies have published their fourth quarterly report on Sunday.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">According to the published financial statements, the eighteen life insurance companies had earned a net profit of rupees 3.19 billion in the FY 2075/76. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">But the profits of four companies have decreased in the last fiscal year, according to the report. The financial statements of Met Life shows that its profit has decreased by 41.24 per cent. Similarly, the profit of Prime Life has decreased by 4.63 per cent, LIC by 25.88 per cent and Sanima Life by 4.26 per cent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Life Insurance seems to be ahead when it comes to earning profit in the last fiscal year. The company has earned a profit of rupees 530.3 million in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The growth rate of insurance premium collection has also declined. The rate of premium collection increased by 21.28 per cent in the FY 2076/77 when it had increased by 46 per cent in the FY 2075/76.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Met Life’s insurance premium has declined by 1.68 per cent while the rest of the companies have increased their premium collection. Met Life collected a total premium of Rs 4.21 billion in the previous fiscal year. However, their premium collection decreased to rupees 4.14 billion in the last fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Life is in the frontline in terms of collection of premium too. In the year under review, the company had collected a premium of Rs 27.62 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The government had enforced a lockdown from March 24 to July 22. The businesses of the life insurance companies had increased highly in this period of time. Raju Raman Poudel, the director of the Insurance Board said that the impact of coronavirus as shown in the financial statements of the life insurance companies was less than they had anticipated. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“The businesses of life insurance was booming before the lockdown. We had predicted that the businesses would be largely affected in the three-month lockdown,” he said, “However, that didn’t happen.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Similarly, Shivanath Pandey, the chairman of Nepal Insurers’ Association, stated that the life insurance companies have not been highly impacted despite of the decline in their profits. “There have been impacts. We were not able to maintain the growth rates of the previous fiscal years because of the lockdown,” he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He expressed that the life insurance companies were not affected very badly because of their long-term investments. However, the companies believed that the upcoming days would be more challenging for the life insurance sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Insurance agents have to physically visit the customers’ residences. Poudel, the executive director of the board, expressed that this was also the reason why it was very challenging to conduct the businesses of life insurance during the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“Insurance agents have to go from residence to residence to get clients,” he said, “But it is not possible to do this because of the virus. This has affected the business.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Pandey, the chairman of the association, also agreed that the upcoming days would be challenging. “Our main source of income is the interest from banks. We have invested approximately rupees 300 billion in banks. The banks have reduced their interest rates right now,” he said, “It will be very challenging for us to earn profits in the future due to this situation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-08-17', 'modified' => '2020-08-17', 'keywords' => '', 'description' => '', 'sortorder' => '12084', 'image' => '20200817035538_1597613715.Clipboard06.jpg', 'article_date' => '2020-08-17 15:55:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
